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Condensed Parent Company Only Financial Statements (Tables)
 12 Months Ended
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)20232022
Assets
Cash in bank$6,584 $6,443 
Investment in subsidiary406,929 369,911 
Other assets8,207 7,649 
Total assets$421,720 $384,003 
Liabilities
Subordinated debt, net of issuance cost$54,241 $54,013 
Other liabilities35 36 
Total liabilities$54,276 $54,049 
Shareholders’ equity367,444 329,954 
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)202320222021
Operating income
Dividend from subsidiary$15,000 $74,576 $15,000 
Total operating income15,000 74,576 15,000 
Operating expenses
Other expenses340 289 183 
Total operating expenses340 289 183 
Interest expense
Subordinated debt expense3,390 1,710 — 
Total interest expense3,390 1,710 — 
Income before income tax benefit and equity in undistributed earnings of subsidiary11,270 72,577 14,817 
Income tax benefit783 420 38 
Income before equity in undistributed earnings of subsidiary12,053 72,997 14,855 
Undistributed earnings of subsidiary28,187 (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)202320222021
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 compensation1,468 1,629 1,585 
Amortization of subordinated debt issuance cost228 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 activities13,191 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 options102 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 plan329 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 equivalents141 4,400 (1,005)
Cash and cash equivalents at beginning of year6,443 2,043 3,048 
Cash and cash equivalents at end of year$6,584 $6,443 $2,043