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Condensed Parent Only Financial Information | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Parent Only Financial Information | Note 20 — Condensed Parent Only Financial Information The following represents the condensed financial information of the Corporation only: Condensed Balance Sheets
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | (In Thousands) |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5,384 |  |  | $ | 2,027 |
Investments in subsidiaries, at equity |  |  | 379,604 |  |  |  | 339,854 |
Premises and equipment, net |  |  | 67 |  |  |  | 51 |
Other assets |  |  | 2,908 |  |  |  | 697 |
Total assets |  | $ | 387,963 |  |  | $ | 342,629 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |
Subordinated notes and other borrowings |  | $ | 54,689 |  |  | $ | 49,396 |
Accrued interest payable and other liabilities |  |  | 4,685 |  |  |  | 3,645 |
Total liabilities |  |  | 59,374 |  |  |  | 53,041 |
Stockholders’ equity |  |  | 328,589 |  |  |  | 289,588 |
Total liabilities and stockholders’ equity |  | $ | 387,963 |  |  | $ | 342,629 |
Condensed Statements of Income
|  | For the Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In Thousands) |
Net interest expense |  | $ | 3,283 |  |  | $ | 1,989 |  |  | $ | 2,295 |
Non-interest income |  |  |  |  |  |  |  |  |
Dividends from subsidiaries |  |  | 11,500 |  |  |  | 12,100 |  |  |  | 2,000 |
Consulting and rental income from consolidated subsidiaries |  |  | 5,812 |  |  |  | 5,644 |  |  |  | 5,794 |
Other non-interest income |  |  | 10 |  |  |  | 43 |  |  |  | 69 |
Total non-interest income |  |  | 17,322 |  |  |  | 17,787 |  |  |  | 7,863 |
Non-interest expense |  |  | 8,375 |  |  |  | 8,234 |  |  |  | 7,633 |
Gain (loss) before income tax benefit and equity in undistributed net income of consolidated subsidiaries |  |  | 5,664 |  |  |  | 7,564 |  |  |  | (2,065 | )
Income tax benefit |  |  | 1,940 |  |  |  | 337 |  |  |  | 1,387 |
Gain (loss) before equity in undistributed net income of consolidated subsidiaries |  |  | 7,604 |  |  |  | 7,901 |  |  |  | (678 | )
Equity in undistributed net income of consolidated subsidiaries |  |  | 36,641 |  |  |  | 29,126 |  |  |  | 41,536 |
Net income |  | $ | 44,245 |  |  | $ | 37,027 |  |  | $ | 40,858 |
Condensed Statements of Cash Flows
|  | For the Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In Thousands) |
Operating activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 44,245 |  |  | $ | 37,027 |  |  | $ | 40,858 |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of consolidated subsidiaries |  |  | (36,641 | ) |  |  | (29,126 | ) |  |  | (41,536 | )
Share-based compensation |  |  | 2,785 |  |  |  | 2,977 |  |  |  | 2,584 |
Excess tax benefit from share-based compensation |  |  | (219 | ) |  |  | (91 | ) |  |  | (91 | )
Net (decrease) increase in other liabilities |  |  | (146 | ) |  |  | (1,854 | ) |  |  | 2,592 |
Other, net |  |  | (1,639 | ) |  |  | 1,207 |  |  |  | (530 | )
Net cash provided by operating activities |  |  | 8,385 |  |  |  | 10,140 |  |  |  | 3,877 |
Investing activities |  |  |  |  |  |  |  |  |
Proceeds from redemption of Trust II stock |  |  | — |  |  |  | — |  |  |  | 315 |
Capital contributions to subsidiaries |  |  | — |  |  |  | (15,000 | ) |  |  | — |
Net cash (used in) provided by investing activities |  |  | — |  |  |  | (15,000 | ) |  |  | 315 |
Financing activities |  |  |  |  |  |  |  |  |
Net increase (decreases) in long-term borrowed funds |  |  | 293 |  |  |  | 54 |  |  |  | (357 | )
Proceeds from issuance of subordinated notes payable |  |  | 20,000 |  |  |  | 15,000 |  |  |  | 20,000 |
Repayment of subordinated notes payable |  |  | (15,000 | ) |  |  | — |  |  |  | (9,090 | )
Repayment of junior subordinated debentures |  |  | — |  |  |  | — |  |  |  | (10,076 | )
Proceeds from issuance of preferred stock |  |  | — |  |  |  | — |  |  |  | 11,992 |
Proceeds from purchased funds and other short-term debt |  |  | — |  |  |  | — |  |  |  | (500 | )
Purchase of treasury stock |  |  | (1,270 | ) |  |  | (2,971 | ) |  |  | (6,126 | )
Preferred stock dividends paid |  |  | (875 | ) |  |  | (875 | ) |  |  | (683 | )
Cash dividends paid |  |  | (8,320 | ) |  |  | (7,578 | ) |  |  | (6,688 | )
Net proceeds from purchases of ESPP shares |  |  | 144 |  |  |  | 128 |  |  |  | 134 |
Net cash (used in) provided by financing activities |  |  | (5,028 | ) |  |  | 3,758 |  |  |  | (1,394 | )
Net increase (decrease) in cash and due from banks |  |  | 3,357 |  |  |  | (1,102 | ) |  |  | 2,798 |
Cash and cash equivalents at the beginning of the period |  |  | 2,027 |  |  |  | 3,129 |  |  |  | 331 |
Cash and cash equivalents at the end of the period |  | $ | 5,384 |  |  | $ | 2,027 |  |  | $ | 3,129 |

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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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