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Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
Parent Company Only Financial Statements |
Schedule of Parent Company Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
(dollars in thousands) |  | 2023 |  | 2022
Assets |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 70,853 | ​ | $ | 84,017
Investment in subsidiaries | ​ |  | 354,303 | ​ |  | 338,595
Deferred income taxes, net | ​ |  | 757 | ​ |  | 904
Other assets | ​ |  | 9,968 | ​ |  | 487
Total assets | ​ | $ | 435,881 | ​ | $ | 424,003
Liabilities and Stockholders’ Equity | ​ |  |  | ​ |  |
Long‑term debt | ​ | $ | 58,956 | ​ | $ | 58,843
Accrued expenses and other liabilities | ​ |  | 7,798 | ​ |  | 8,288
Total liabilities | ​ |  | 66,754 | ​ |  | 67,131
Stockholders’ equity | ​ |  | 369,127 | ​ |  | 356,872
Total stockholders’ equity | ​ |  | 369,127 | ​ |  | 356,872
Total liabilities and stockholders’ equity | ​ | $ | 435,881 | ​ | $ | 424,003
Schedule of Parent Company Condensed Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Income |  | ​ |  |  | ​ |  |  | ​ |
Dividends from subsidiaries | ​ | $ | 21,000 | ​ | $ | 18,500 | ​ | $ | 16,000
Other income | ​ |  | 24 | ​ |  | 16 | ​ |  | 4
Total operating income | ​ |  | 21,024 | ​ |  | 18,516 | ​ |  | 16,004
Expenses | ​ |  | 6,043 | ​ |  | 6,583 | ​ |  | 5,293
Income before equity in undistributed income | ​ |  | 14,981 | ​ |  | 11,933 | ​ |  | 10,711
Equity in undistributed income of subsidiaries | ​ |  | (4,826) | ​ |  | 26,424 | ​ |  | 40,642
Income before income taxes | ​ |  | 10,155 | ​ |  | 38,357 | ​ |  | 51,353
Income tax benefit | ​ |  | 1,541 | ​ |  | 1,648 | ​ |  | 1,328
Net income | ​ | $ | 11,696 | ​ | $ | 40,005 | ​ | $ | 52,681
Schedule of Parent Company Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Operating activities |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 11,696 | ​ | $ | 40,005 | ​ | $ | 52,681
Adjustments to reconcile net income to net cash provided by operating activities | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed income of subsidiaries | ​ |  | 4,826 | ​ |  | (26,424) | ​ |  | (40,642)
Depreciation and amortization | ​ |  | — | ​ |  | 87 | ​ |  | 115
Stock‑based compensation cost | ​ |  | 1,628 | ​ |  | 1,904 | ​ |  | 3,095
Other, net | ​ |  | (9,854) | ​ |  | 419 | ​ |  | 1,266
Net cash provided by operating activities | ​ |  | 8,296 | ​ |  | 15,991 | ​ |  | 16,515
Investing activities | ​ |  |  | ​ |  |  | ​ |  |
Net cash (paid) for business combinations | ​ |  | — | ​ |  | (189) | ​ |  | —
Net cash provided by investing activities | ​ |  | — | ​ |  | (189) | ​ |  | —
Financing activities | ​ |  |  | ​ |  |  | ​ |  |
Cash dividends paid on common stock | ​ |  | (14,822) | ​ |  | (12,800) | ​ |  | (10,751)
Repurchase of common stock | ​ |  | (6,638) | ​ |  | (738) | ​ |  | (712)
Net cash provided by financing activities | ​ |  | (21,460) | ​ |  | (13,538) | ​ |  | (11,463)
Change in cash and cash equivalents | ​ |  | (13,164) | ​ |  | 2,264 | ​ |  | 5,052
Cash and cash equivalents at beginning of period | ​ |  | 84,017 | ​ |  | 81,753 | ​ |  | 76,701
Cash and cash equivalents at end of period | ​ | $ | 70,853 | ​ | $ | 84,017 | ​ | $ | 81,753
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