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Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Statements PARENT COMPANY FINANCIAL STATEMENTS
Following are the condensed statements of condition, income and cash flows for the Company's parent company:

STATEMENTS OF CONDITION
December 31,
(In thousands)20242023
ASSETS  
Cash$38,559 $35,219 
Investment in subsidiary 539,279 508,674 
Other assets15,162 14,142 
Total assets$593,000 $558,035 
LIABILITIES AND SHAREHOLDERS’ EQUITY  
Junior subordinated debentures$44,331 $44,331 
Due to subsidiary238 — 
Other liabilities17,201 18,640 
Shareholders’ equity531,230 495,064 
Total liabilities and shareholders’ equity$593,000 $558,035 

STATEMENTS OF INCOME
For the Year Ended
December 31,
(In thousands)202420232022
Operating Income  
Dividend income from subsidiary$30,100 $22,500 $31,700 
Other income — — 19 
Total operating income30,100 22,500 31,719 
Operating Expenses  
Interest on borrowings2,131 2,150 2,140 
Fees to Bank204 180 180 
Other operating expenses876 915 794 
Total operating expenses3,211 3,245 3,114 
Income before equity in undistributed income of subsidiaries and income taxes
26,889 19,255 28,605 
Equity in undistributed income of subsidiaries25,386 23,389 32,129 
Income before income taxes
52,275 42,644 60,734 
Income tax benefit 729 739 705 
Net Income$53,004 $43,383 $61,439 
STATEMENTS OF CASH FLOWS
For the Year Ended
December 31,
(In thousands)202420232022
Operating Activities  
Net income$53,004 $43,383 $61,439 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiaries(25,387)(23,389)(32,129)
(Increase) decrease in other assets
(1,166)(4,884)9,219 
Increase (decrease) in due to subsidiaries
238 31 (187)
Increase (decrease) in other liabilities
385 4,005 (1,051)
Net cash provided by operating activities27,074 19,146 37,291 
Financing Activities  
Net proceeds from issuance of common stock 2,678 2,533 2,198 
Common stock repurchases(1,608)(2,000)(10,240)
Equity issuance costs
(246)
Cash dividends paid on common stock
(24,558)(24,536)(23,512)
Net cash used in financing activities(23,734)(24,003)(31,554)
Net increase (decrease) in cash, cash equivalents and restricted cash
3,340 (4,857)5,737 
Cash, cash equivalents and restricted cash at beginning of year35,219 40,076 34,339 
Cash, cash equivalents and restricted cash at end of year$38,559 $35,219 $40,076