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Parent Company Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Parent Company Financial Information |
Schedule of Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
(dollars in thousands) |  | 2023 |  | 2022
ASSETS | ​ | ​ | ​ | ​ | ​ | ​
Cash and Cash Equivalents | ​ | $ | 27,733 | ​ | $ | 37,414
Investment in Subsidiaries | ​ |  | 488,355 | ​ |  | 447,931
Premises and Equipment, Net | ​ |  | 3,760 | ​ |  | 844
Other Assets | ​ |  | 2,772 | ​ |  | 3,180
Total Assets | ​ | $ | 522,620 | ​ | $ | 489,369
LIABILITIES AND EQUITY | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES | ​ | ​ | ​ | ​ | ​ | ​
Notes Payable | ​ | $ | 13,750 | ​ | $ | 13,750
Subordinated Debentures, Net of Issuance Costs | ​ |  | 79,288 | ​ |  | 78,905
Accrued Interest Payable | ​ |  | 1,765 | ​ |  | 452
Other Liabilities | ​ |  | 2,302 | ​ |  | 2,198
Total Liabilities | ​ |  | 97,105 | ​ |  | 95,305
SHAREHOLDERS’ EQUITY | ​ | ​ | ​ | ​ | ​ | ​
Preferred Stock—$0.01 par value | ​ | ​ | ​ | ​ | ​ | ​
Preferred Stock—Authorized 10,000,000 | ​ | ​ | 66,514 | ​ | ​ | 66,514
Common Stock—$0.01 par value | ​ | ​ | ​ | ​ | ​ | ​
Voting Common Stock—Authorized 75,000,000 | ​ |  | 277 | ​ |  | 278
Additional Paid‑In Capital | ​ |  | 96,320 | ​ |  | 96,529
Retained Earnings | ​ |  | 280,650 | ​ |  | 248,685
Accumulated Other Comprehensive Income (Loss) | ​ |  | (18,246) | ​ |  | (17,942)
Total Shareholders’ Equity | ​ |  | 425,515 | ​ |  | 394,064
Total Liabilities and Shareholders' Equity | ​ | $ | 522,620 | ​ | $ | 489,369
Schedule of Condensed Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31, | ​ | December 31,
(dollars in thousands) |  | 2023 |  | 2022 | ​ | 2021
INCOME | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividend Income | ​ | $ | — | ​ | $ | 1,585 | ​ | $ | 1,350
Interest Income | ​ |  | 3 | ​ |  | — | ​ |  | —
Other Income | ​ |  | 118 | ​ |  | 129 | ​ |  | 117
Total Income | ​ |  | 121 | ​ |  | 1,714 | ​ |  | 1,467
EXPENSE | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest Expense | ​ |  | 5,126 | ​ |  | 4,890 | ​ |  | 4,691
Other Expenses | ​ |  | 1,757 | ​ |  | 1,570 | ​ |  | 1,972
Total Interest Expense | ​ |  | 6,883 | ​ |  | 6,460 | ​ |  | 6,663
LOSS BEFORE INCOME TAX BENEFIT AND EQUITY IN UNDISTRIBUTED EARNINGS | ​ |  | (6,762) | ​ |  | (4,746) | ​ |  | (5,196)
Income Tax Benefit | ​ |  | 1,894 | ​ |  | 1,792 | ​ |  | 1,847
LOSS BEFORE EQUITY IN UNDISTRIBUTED EARNINGS | ​ |  | (4,868) | ​ |  | (2,954) | ​ |  | (3,349)
Equity in Undistributed Earnings | ​ |  | 44,828 | ​ |  | 56,346 | ​ |  | 49,036
NET INCOME | ​ | $ | 39,960 | ​ | $ | 53,392 | ​ | $ | 45,687
Schedule of Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31, | ​ | December 31,
(dollars in thousands) |  | 2023 |  | 2022 | ​ | 2021
CASH FLOWS FROM OPERATING ACTIVITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Income | ​ | $ | 39,960 | ​ | $ | 53,392 | ​ | $ | 45,687
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in Undistributed Earnings of Subsidiaries | ​ |  | (44,828) | ​ |  | (56,346) | ​ |  | (49,036)
Changes in Other Assets and Liabilities | ​ |  | (738) | ​ |  | (193) | ​ |  | 634
Net Cash Used by Operating Activities | ​ |  | (5,606) | ​ |  | (3,147) | ​ |  | (2,715)
CASH FLOWS FROM INVESTING ACTIVITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment in Subsidiaries | ​ |  | — | ​ |  | (25,000) | ​ |  | (25,000)
Proceeds from Bridgewater Risk Management, Inc. Liquidation | ​ | ​ | 4,143 | ​ | ​ | — | ​ | ​ | —
Net Cash Provided (Used) by Investing Activities | ​ |  | 4,143 | ​ |  | (25,000) | ​ |  | (25,000)
CASH FLOWS FROM FINANCING ACTIVITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Principal Payments on Notes Payable | ​ |  | — | ​ |  | — | ​ |  | (11,000)
Proceeds from Notes Payable | ​ | ​ | — | ​ | ​ | 13,750 | ​ | ​ | —
Proceeds from Issuance of Subordinated Debt | ​ |  | — | ​ |  | — | ​ |  | 29,309
Redemption of Subordinated Debt | ​ | ​ | — | ​ | ​ | (13,750) | ​ | ​ | (11,250)
Stock Options Exercised | ​ | ​ | 963 | ​ | ​ | 577 | ​ | ​ | 724
Stock Repurchases and Repurchases for Tax Withholding on Equity Awards | ​ | ​ | (5,127) | ​ | ​ | (11,513) | ​ | ​ | (2,740)
Issuance of Preferred Stock | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 66,514
Preferred Stock Dividends Paid | ​ | ​ | (4,054) | ​ | ​ | (4,054) | ​ | ​ | (1,171)
Net Cash Provided (Used) by Financing Activities | ​ |  | (8,218) | ​ |  | (14,990) | ​ |  | 70,386
NET CHANGE IN CASH AND CASH EQUIVALENTS | ​ |  | (9,681) | ​ |  | (43,137) | ​ |  | 42,671
Cash and Cash Equivalents Beginning | ​ |  | 37,414 | ​ |  | 80,551 | ​ |  | 37,880
Cash and Cash Equivalents Ending | ​ | $ | 27,733 | ​ | $ | 37,414 | ​ | $ | 80,551

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