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Parent Company Financial Statements | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Parent Company Financial Statements | Parent Company Financial Statements PARENT COMPANY BALANCE SHEETS
(dollars in thousands, except share amounts) |  | December 31,
| 2024 |  | 2023
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 6,653 |  |  | $ | 5,516 |
Investment in subsidiary bank |  | 312,669 |  |  | 297,856 |
Other assets |  | 621 |  |  | 524 |
Total Assets |  | $ | 319,943 |  |  | $ | 303,896 |
LIABILITIES |  |  |  |
Accrued expenses and other liabilities |  | $ | 204 |  |  | $ | 45 |
Total Liabilities |  | 204 |  |  | 45 |
STOCKHOLDERS’ EQUITY |  |  |  |
Preferred stock, no par value: Authorized - 1,000,000 shares; None Issued and Outstanding |  | — |  |  | — |
Common stock, no par value: Authorized - 30,000,000 shares; Issued and Outstanding - 6,777,238 and 7,091,637 shares, respectively |  | 38,655 |  |  | 55,136 |
Additional paid-in capital |  | 2,777 |  |  | 2,407 |
Retained earnings |  | 338,554 |  |  | 306,802 |
Accumulated other comprehensive income (loss) |  | (60,247) |  |  | (60,494) |
Total Stockholders’ Equity |  | 319,739 |  |  | 303,851 |
Total Liabilities and Stockholders’ Equity |  | $ | 319,943 |  |  | $ | 303,896 |
PARENT COMPANY STATEMENTS OF INCOME
(in thousands) |  | Years Ended December 31,
| 2024 |  | 2023 |  | 2022
INTEREST AND DIVIDEND INCOME |  |  |  |  |  |
Dividend income from subsidiaries |  | $ | 20,500 |  |  | $ | 2,500 |  |  | $ | — |
Total Interest and Dividend Income |  | 20,500 |  |  | 2,500 |  |  | — |
NONINTEREST INCOME |  |  |  |  |  |
Other income |  | 1 |  |  | 2 |  |  | 1 |
Total Noninterest Income |  | 1 |  |  | 2 |  |  | 1 |
OPERATING EXPENSES |  |  |  |  |  |
Technology expenses |  | 181 |  |  | 105 |  |  | 52 |
Legal and professional expenses |  | 869 |  |  | 764 |  |  | 837 |
Advertising |  | — |  |  | — |  |  | 2 |
Other operating expenses |  | 2 |  |  | 89 |  |  | 32 |
Total Operating Expenses |  | 1,052 |  |  | 958 |  |  | 923 |
Income (Loss) Before Income Tax Expense (Benefit) |  | 19,449 |  |  | 1,544 |  |  | (922) |
Income tax expense (benefit) |  | (220) |  |  | (201) |  |  | (194) |
Income (Loss) Before Equity in Undistributed Earnings of Subsidiaries |  | 19,669 |  |  | 1,745 |  |  | (728) |
Equity in undistributed earnings of subsidiaries |  | 14,566 |  |  | 33,134 |  |  | 37,644 |
Net Income |  | $ | 34,235 |  |  | $ | 34,879 |  |  | $ | 36,916 |
PARENT COMPANY STATEMENTS OF CASH FLOWS
(in thousands) |  | Years Ended December 31,
| 2024 |  | 2023 |  | 2022
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |
Net income |  | $ | 34,235 |  |  | $ | 34,879 |  |  | $ | 36,916 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |
Undistributed earnings of subsidiaries |  | (14,566) |  |  | (33,134) |  |  | (37,644) |
Other operating activities, net |  | 350 |  |  | 424 |  |  | 322 |
Net cash provided by (used in) operating activities |  | 20,019 |  |  | 2,169 |  |  | (406) |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |
Capital contribution in partnerships |  | (90) |  |  | (160) |  |  | (175) |
Net cash provided by (used in) investing activities |  | (90) |  |  | (160) |  |  | (175) |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |
Repurchase of common stock |  | (16,309) |  |  | (4,999) |  |  | (218) |
Cash dividends |  | (2,483) |  |  | (2,289) |  |  | (2,011) |
Net cash provided by (used in) financing activities |  | (18,792) |  |  | (7,288) |  |  | (2,229) |
Net change in cash and cash equivalents |  | 1,137 |  |  | (5,279) |  |  | (2,810) |
Cash and cash equivalents - beginning of year |  | 5,516 |  |  | 10,795 |  |  | 13,605 |
Cash and cash equivalents - end of year |  | $ | 6,653 |  |  | $ | 5,516 |  |  | $ | 10,795 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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