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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2019
PARENT COMPANY FINANCIAL INFORMATION [Abstract] |
Condensed Balance Sheet, Parent Only |
(Dollars in thousands) |  | 2019 |  | 2018
Assets |  |  |  |  |  |
Cash |  | $ | 7,522 |  | $ | 26,583
Investment securities available for sale, at fair value |  |  | — |  |  | 918
Investment in subsidiaries |  |  | 183,183 |  |  | 157,855
Premises and equipment, net |  |  | — |  |  | 3,772
Other assets |  |  | 2,483 |  |  | 1,593
Total assets |  | $ | 193,188 |  | $ | 190,721
Liabilities |  |  |  |  |  |
Accrued interest payable |  | $ | — |  | $ | 1
Other liabilities |  |  | 386 |  |  | 6,494
Short-term borrowings |  |  | — |  |  | 1,041
Total liabilities |  |  | 386 |  |  | 7,536
Stockholders’ equity |  |  |  |  |  |
Common stock |  |  | 125 |  |  | 127
Additional paid in capital |  |  | 61,045 |  |  | 65,434
Retained earnings |  |  | 131,425 |  |  | 120,574
Accumulated other comprehensive income (loss) |  |  | 207 |  |  | (2,950)
Total stockholders’ equity |  |  | 192,802 |  |  | 183,185
Total liabilities and stockholders’ equity |  | $ | 193,188 |  | $ | 190,721
Condensed Statement of Operations, Parent Only |
(Dollars in thousands) |  | 2019 |  | 2018
Income |  |  |  |  |  |
Dividends from subsidiaries |  | $ | — |  | $ | 4,000
Management and other fees from subsidiaries |  |  | 498 |  |  | 2,535
Gain on sale of subsidiary |  |  | — |  |  | 12,736
Other operating income |  |  | 66 |  |  | 30
Total income |  |  | 564 |  |  | 19,301
Expenses |  |  |  |  |  |
Interest expense |  |  | 22 |  |  | 54
Salaries and employee benefits |  |  | 111 |  |  | 1,626
Occupancy and equipment expense |  |  | — |  |  | 106
Other operating expenses |  |  | 932 |  |  | 1,274
Total expenses |  |  | 1,065 |  |  | 3,060
(Loss) income before income tax (benefit) expense and equity in |  |  |  |  |  |
undistributed net income of subsidiaries |  |  | (501) |  |  | 16,241
Income tax (benefit) expense |  |  | (131) |  |  | 4,298
(Loss) income before equity in undistributed net income of subsidiaries |  |  | (370) |  |  | 11,943
Equity in undistributed net income of subsidiaries |  |  | 16,568 |  |  | 13,054
Net income |  | $ | 16,198 |  | $ | 24,997
Condensed Cash Flow, Parent Only |
(Dollars in thousands) |  | 2019 |  | 2018
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 16,198 |  | $ | 24,997
Adjustments to reconcile net income to cash |  |  |  |  |  |
provided by operating activities: |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (16,568) |  |  | (13,054)
Depreciation and amortization |  |  | — |  |  | 469
Stock-based compensation expense |  |  | 149 |  |  | 447
Gain on sale of subsidiary |  |  | — |  |  | (12,736)
Net (increase) decrease in other assets |  |  | (1,093) |  |  | 1,001
Net (decrease) increase in other liabilities |  |  | (6,109) |  |  | 3,267
Net cash (used in) provided by operating activities |  |  | (7,423) |  |  | 4,391
Cash flows from investing activities: |  |  |  |  |  |
Proceeds from maturities and principal payments of |  |  |  |  |  |
investment securities available for sale |  |  | — |  |  | 187
Purchases of premises and equipment |  |  | — |  |  | (590)
Purchase of bank owned life insurance |  |  | (139) |  |  | —
Transfer to subsidiary |  |  | (571) |  |  | —
Cash of subsidiary retained upon disposal |  |  | — |  |  | 726
Proceeds from sale of subsidiary |  |  | — |  |  | 25,159
Net cash (used in) provided by investing activities |  |  | (710) |  |  | 25,482
Cash flows from financing activities: |  |  |  |  |  |
(Decrease) increase in short-term borrowings |  |  | (1,041) |  |  | 375
Common stock dividends paid |  |  | (5,347) |  |  | (4,079)
Retirement of common stock |  |  | (4,452) |  |  | —
Repurchase of shares for tax withholding on exercised options |  |  |  |  |  |
and vested restricted stock |  |  | (88) |  |  | (269)
Net cash used in financing activities |  |  | (10,928) |  |  | (3,973)
Net (decrease) increase in cash and cash equivalents |  |  | (19,061) |  |  | 25,900
Cash and cash equivalents at beginning of year |  |  | 26,583 |  |  | 683
Cash and cash equivalents at end of year |  | $ | 7,522 |  | $ | 26,583
Supplemental cash flow information: |  |  |  |  |  |
Transfer of building, available for sale securities and other assets to banking subsidiary |  | $ | 5,032 |  | $ | —

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