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Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2022
Parent Company Only Financial Statements |
Schedule of Parent Company Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
(dollars in thousands) |  | 2022 |  | 2021
Assets |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 84,017 | ​ | $ | 81,753
Land, premises and equipment, net | ​ |  | — | ​ |  | 87
Investment in subsidiaries | ​ |  | 338,595 | ​ |  | 342,538
Deferred income taxes, net | ​ |  | 904 | ​ |  | 1,000
Other assets | ​ |  | 487 | ​ |  | 655
Total assets | ​ | $ | 424,003 | ​ | $ | 426,033
Liabilities and Stockholders’ Equity | ​ |  |  | ​ |  |
Long‑term debt | ​ | $ | 58,843 | ​ | $ | 58,933
Accrued expenses and other liabilities | ​ |  | 8,288 | ​ |  | 7,697
Total liabilities | ​ |  | 67,131 | ​ |  | 66,630
Stockholders’ equity | ​ |  | 356,872 | ​ |  | 359,403
Total stockholders’ equity | ​ |  | 356,872 | ​ |  | 359,403
Total liabilities and stockholders’ equity | ​ | $ | 424,003 | ​ | $ | 426,033
​
Schedule of Parent Company Condensed Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
(dollars in thousands) |  | 2022 |  | 2021 |  | 2020
Income |  | ​ |  |  | ​ |  |  | ​ |
Dividends from subsidiaries | ​ | $ | 18,500 | ​ | $ | 16,000 | ​ | $ | 16,000
Other income | ​ |  | 16 | ​ |  | 4 | ​ |  | 10
Total operating income | ​ |  | 18,516 | ​ |  | 16,004 | ​ |  | 16,010
Expenses | ​ |  | 6,583 | ​ |  | 5,293 | ​ |  | 6,057
Income before equity in undistributed income | ​ |  | 11,933 | ​ |  | 10,711 | ​ |  | 9,953
Equity in undistributed income of subsidiaries | ​ |  | 26,424 | ​ |  | 40,642 | ​ |  | 33,208
Income before income taxes | ​ |  | 38,357 | ​ |  | 51,353 | ​ |  | 43,161
Income tax benefit | ​ |  | 1,648 | ​ |  | 1,328 | ​ |  | 1,514
Net income | ​ | $ | 40,005 | ​ | $ | 52,681 | ​ | $ | 44,675
​
Schedule of Parent Company Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
(dollars in thousands) |  | 2022 |  | 2021 |  | 2020
Operating activities |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 40,005 | ​ | $ | 52,681 | ​ | $ | 44,675
Adjustments to reconcile net income to net cash provided by operating activities | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed income of subsidiaries | ​ |  | (26,424) | ​ |  | (40,642) | ​ |  | (33,208)
Depreciation and amortization | ​ |  | 87 | ​ |  | 115 | ​ |  | 116
Stock‑based compensation cost | ​ |  | 1,904 | ​ |  | 3,095 | ​ |  | 1,927
Other, net | ​ |  | 419 | ​ |  | 1,266 | ​ |  | 413
Net cash provided by operating activities | ​ |  | 15,991 | ​ |  | 16,515 | ​ |  | 13,923
Investing activities | ​ |  |  | ​ |  |  | ​ |  |
Investment in bank subsidiary | ​ |  | — | ​ |  | — | ​ |  | —
Net cash (paid) for business combinations | ​ |  | (189) | ​ |  | — | ​ |  | —
Net cash provided by investing activities | ​ |  | (189) | ​ |  | — | ​ |  | —
Financing activities | ​ |  |  | ​ |  |  | ​ |  |
Cash dividends paid on common stock | ​ |  | (12,800) | ​ |  | (10,751) | ​ |  | (10,387)
Repurchase of common stock | ​ |  | (738) | ​ |  | (712) | ​ |  | (482)
Net cash provided by financing activities | ​ |  | (13,538) | ​ |  | (11,463) | ​ |  | (10,869)
Change in cash and cash equivalents | ​ |  | 2,264 | ​ |  | 5,052 | ​ |  | 3,054
Cash and cash equivalents at beginning of period | ​ |  | 81,753 | ​ |  | 76,701 | ​ |  | 73,647
Cash and cash equivalents at end of period | ​ | $ | 84,017 | ​ | $ | 81,753 | ​ | $ | 76,701

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