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Condensed Parent Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet |
CONDENSED BALANCE SHEETS |  |  |  |
December 31, 2019 and 2018 |  |  |  |
(Dollars in thousands) |  |  |  |
|  | 2019 |  | 2018
ASSETS: |  |  |  |
Cash |  | $ | 13,155 |  |  | $ | 13,684 |
Investment in subsidiaries |  | 337,503 |  |  | 308,422 |
Other assets |  | 1,996 |  |  | 99 |
Total assets |  | $ | 352,654 |  |  | $ | 322,205 |
LIABILITIES AND STOCKHOLDERS’ EQUITY: |  |  |  |
Other liabilities |  | $ | 646 |  |  | $ | 17 |
Other borrowings |  | 39,261 |  |  | 39,177 |
Total liabilities |  | 39,907 |  |  | 39,194 |
Stockholders’ equity |  | 312,747 |  |  | 283,011 |
Total liabilities and stockholders’ equity |  | $ | 352,654 |  |  | $ | 322,205 |
Condensed Income Statement |
CONDENSED STATEMENTS OF INCOME |  |  |  |
Years ended December 31, 2019 and 2018 |  |  |  |
(Dollars in thousands) |  |  |  |
|  | 2019 |  | 2018
INCOME: |  |  |  |
Interest income |  | $ | — |  |  | $ | 21 |
Merger termination fee |  | 6,400 |  |  | — |
Total income |  | 6,400 |  |  | 21 |
EXPENSES: |  |  |  |
Interest expense |  | 2,341 |  |  | 1,005 |
Other operating expenses |  | 2,755 |  |  | 2,822 |
Total expense |  | 5,096 |  |  | 3,827 |
Income (loss) before equity in undistributed earnings of subsidiaries and income tax benefit |  | 1,304 |  |  | (3,806) |
Income tax expense |  | (389) |  |  |  | (833) |
Income before equity in undistributed net income of subsidiaries |  | 915 |  |  | (4,639) |
Equity in undistributed earnings of subsidiaries |  | 25,633 |  |  | 22,741 |
Net income |  | $ | 26,548 |  |  | $ | 18,102 |
Condensed Cash Flow Statement |
STATEMENTS OF CASH FLOWS |  |  |  |
For the years ended December 31, 2019 and 2018 |  |  |  |
(Dollars in thousands) |  |  |  |
|  | 2019 |  | 2018
Cash flows from operating activities: |  |  |  |
Net income |  | $ | 26,548 |  |  | $ | 18,102 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |  |
Equity in undistributed income of subsidiary |  | (25,633) |  |  | (22,741) |
Other assets |  | (1,894) |  |  | 568 |
Other liabilities |  | 712 |  |  |  | 1,063 |
Net cash used in operating activities |  | (267) |  |  | (3,008) |
Cash flows from investing activities: |  |  |  |
Net cash paid for business combinations |  | — |  |  |  | (5,930) |
Equity contribution to subsidiary |  | — |  |  |  | (12,000) |
Net cash used in investing activities |  | — |  |  |  | (17,930) |
Cash flows from financing activities: |  |  |  |
Repayment of note payable |  | — |  |  | (10,000) |
Issuance of subordination debt |  | — |  |  | 39,158 |
Proceeds from issuance of common stock |  | 438 |  |  | 1,528 |
Cash dividends paid |  | (700) |  |  | — |
Net cash (used) provided by financing activities |  | (262) |  |  | 30,686 |
Net change in cash and cash equivalents |  | (529) |  |  | 9,748 |
Cash and cash equivalents, beginning of year |  | 13,684 |  |  | 3,936 |
Cash and cash equivalents, end of period |  | $ | 13,155 |  |  | $ | 13,684 |

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