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Condensed Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Summary of Condensed Balance Sheets | Condensed Balance Sheets For the Years Ended December 31, 2023 and 2022
(dollars in thousands) |  | 2023 |  | 2022
Assets |  |  |  |
Cash in bank |  | $ | 6,584 |  |  | $ | 6,443 |
Investment in subsidiary |  | 406,929 |  |  | 369,911 |
Other assets |  | 8,207 |  |  | 7,649 |
Total assets |  | $ | 421,720 |  |  | $ | 384,003 |
Liabilities |  |  |  |
Subordinated debt, net of issuance cost |  | $ | 54,241 |  |  | $ | 54,013 |
Other liabilities |  | 35 |  |  | 36 |
Total liabilities |  | $ | 54,276 |  |  | $ | 54,049 |
Shareholders’ equity |  | 367,444 |  |  | 329,954 |
Total liabilities and shareholders’ equity |  | $ | 421,720 |  |  | $ | 384,003 |
Summary of Condensed Statements of Operations | Condensed Statements of Income For the Years Ended December 31, 2023, 2022 and 2021
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Operating income |  |  |  |  |  |
Dividend from subsidiary |  | $ | 15,000 |  |  | $ | 74,576 |  |  | $ | 15,000 |
Total operating income |  | 15,000 |  |  | 74,576 |  |  | 15,000 |
Operating expenses |  |  |  |  |  |
Other expenses |  | 340 |  |  | 289 |  |  | 183 |
Total operating expenses |  | 340 |  |  | 289 |  |  | 183 |
Interest expense |  |  |  |  |  |
Subordinated debt expense |  | 3,390 |  |  | 1,710 |  |  | — |
Total interest expense |  | 3,390 |  |  | 1,710 |  |  | — |
Income before income tax benefit and equity in undistributed earnings of subsidiary |  | 11,270 |  |  | 72,577 |  |  | 14,817 |
Income tax benefit |  | 783 |  |  | 420 |  |  | 38 |
Income before equity in undistributed earnings of subsidiary |  | 12,053 |  |  | 72,997 |  |  | 14,855 |
Undistributed earnings of subsidiary |  | 28,187 |  |  | (38,925) |  |  | 33,766 |
Net income |  | $ | 40,240 |  |  | $ | 34,072 |  |  | $ | 48,621 |
Summary of Condensed Statements of Cash Flows | Condensed Statements of Cash Flows For the Years Ended December 31, 2023, 2022 and 2021
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Cash flows from operating activities |  |  |  |  |  |
Net income |  | $ | 40,240 |  |  | $ | 34,072 |  |  | $ | 48,621 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Non-cash compensation |  | 1,468 |  |  | 1,629 |  |  | 1,585 |
Amortization of subordinated debt issuance cost |  | 228 |  |  | 120 |  |  | — |
Increase in accrued interest receivable and other assets |  | (558) |  |  | (1,225) |  |  | (1,058) |
Undistributed earnings in subsidiary |  | (28,187) |  |  | 38,925 |  |  | (33,766) |
Decrease in accrued expenses and other liabilities |  | — |  |  | (9) |  |  | (3) |
Net cash provided by operating activities |  | 13,191 |  |  | 73,512 |  |  | 15,379 |
Cash flows from investing activities |  |  |  |  |  |
Net cash paid in acquisitions |  | — |  |  | (64,593) |  |  | — |
Investment in subsidiaries |  | — |  |  | (40,000) |  |  | — |
Net cash used in investing activities |  | — |  |  | (104,593) |  |  | — |
Cash flows from financing activities |  |  |  |  |  |
Proceeds from exercise of stock options |  | 102 |  |  | 375 |  |  | 80 |
Proceeds from issuance of subordinated debt, net of issuance cost |  | — |  |  | 53,892 |  |  | — |
Payment of dividends on common stock |  | (8,222) |  |  | (7,777) |  |  | (7,867) |
Issuance of stock under incentive plan |  | 329 |  |  | 324 |  |  | 303 |
Purchase of Company’s common stock |  | (5,259) |  |  | (11,333) |  |  | (8,900) |
Net cash (used in) provided by financing activities |  | (13,050) |  |  | 35,481 |  |  | (16,384) |
Net change in cash and cash equivalents |  | 141 |  |  | 4,400 |  |  | (1,005) |
Cash and cash equivalents at beginning of year |  | 6,443 |  |  | 2,043 |  |  | 3,048 |
Cash and cash equivalents at end of year |  | $ | 6,584 |  |  | $ | 6,443 |  |  | $ | 2,043 |

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