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Condensed Parent Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheet | CONDENSED BALANCE SHEETS December 31, 2024 and 2023 (Dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
ASSETS: |  | ​ |  |  | ​ |
Cash | ​ | $ | 3,064 | ​ | $ | 1,522
Investment in subsidiary | ​ |  | 522,891 | ​ |  | 501,650
Other assets | ​ |  | 9,482 | ​ |  | 7,890
​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets | ​ | $ | 535,437 | ​ | $ | 511,062
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND SHAREHOLDERS’ EQUITY: | ​ |  |  | ​ |  |
Other liabilities | ​ | $ | 405 | ​ | $ | 1,077
Borrowings | ​ | ​ | 4,000 | ​ | ​ | 8,000
Subordinated debt | ​ |  | 39,684 | ​ |  | 42,099
​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities | ​ |  | 44,089 | ​ |  | 51,176
​ | ​ | ​ | ​ | ​ | ​ | ​
Shareholders’ equity | ​ |  | 491,348 | ​ |  | 459,886
​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities and shareholders’ equity | ​ | $ | 535,437 | ​ | $ | 511,062
Condensed Income Statement | CONDENSED STATEMENTS OF INCOME Years ended December 31, 2024, 2023 and 2022 (Dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 | ​ | 2022
INCOME: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends from SmartBank | ​ | $ | 22,500 | ​ | $ | 10,000 | ​ | $ | —
Interest income | ​ | ​ | 9 | ​ | ​ | — | ​ | ​ | —
Other income | ​ |  | — | ​ |  | — | ​ |  | —
Total income | ​ |  | 22,509 | ​ |  | 10,000 | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
EXPENSES: | ​ |  |  | ​ |  |  | ​ |  |
Interest expense | ​ |  | 3,924 | ​ |  | 3,597 | ​ |  | 2,962
Other operating expenses | ​ |  | 1,029 | ​ |  | 937 | ​ |  | 1,017
Total expense | ​ |  | 4,953 | ​ |  | 4,534 | ​ |  | 3,979
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) before equity in undistributed earnings of subsidiaries and income tax benefit | ​ |  | 17,556 | ​ |  | 5,466 | ​ |  | (3,979)
Income tax benefit | ​ |  | 1,207 | ​ |  | 1,059 | ​ |  | 728
Income (loss) before equity in undistributed net income of subsidiaries | ​ |  | 18,763 | ​ |  | 6,525 | ​ |  | (3,251)
Equity in undistributed earnings of subsidiaries | ​ |  | 17,378 | ​ |  | 22,068 | ​ |  | 46,273
Net income | ​ | $ | 36,141 | ​ | $ | 28,593 | ​ | $ | 43,022
Comprehensive income (loss) | ​ | $ | 38,377 | ​ | $ | 38,010 | ​ | $ | 6,255
Condensed Cash Flow Statement | STATEMENTS OF CASH FLOWS For the years ended December 31, 2024, 2023 and 2022 (Dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 | ​ | 2022
Cash flows from operating activities: |  | ​ |  |  | ​ |  | ​ | ​ |
Net income | ​ | $ | 36,141 | ​ | $ | 28,593 | ​ | $ | 43,022
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed income of subsidiary | ​ |  | (17,378) | ​ |  | (22,068) | ​ |  | (46,273)
Other assets | ​ |  | (1,591) | ​ |  | (1,726) | ​ |  | (544)
Other liabilities | ​ |  | (586) | ​ |  | 340 | ​ |  | (1,915)
Net cash provided by (used in) operating activities | ​ |  | 16,586 | ​ |  | 5,139 | ​ |  | (5,710)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Net cash provided by (used in) investing activities | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Issuance of common stock | ​ |  | 68 | ​ |  | 165 | ​ |  | 397
Restricted shares withheld for taxes | ​ | ​ | (223) | ​ | ​ | (57) | ​ | ​ | (206)
Proceeds from other borrowings | ​ | ​ | 2,000 | ​ | ​ | — | ​ | ​ | 5,000
Repayment borrowings | ​ | ​ | (8,500) | ​ | ​ | (4,500) | ​ | ​ | —
Cash dividends paid | ​ |  | (5,422) | ​ |  | (5,427) | ​ |  | (4,724)
Repurchase of common stock | ​ | ​ | (2,967) | ​ | ​ | — | ​ | ​ | —
Net cash (used in) provided by financing activities | ​ |  | (15,044) | ​ |  | (9,819) | ​ |  | 467
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net change in cash and cash equivalents | ​ |  | 1,542 | ​ |  | (4,680) | ​ |  | (5,243)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents, beginning of year | ​ |  | 1,522 | ​ |  | 6,202 | ​ |  | 11,445
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents, end of period | ​ | $ | 3,064 | ​ | $ | 1,522 | ​ | $ | 6,202
​

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