XML 70 R54.htm IDEA: XBRL DOCUMENT
v3.23.1

Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheets |
|  | December 31, |
Condensed Balance Sheets |  | 2022 |  |  | 2021 |
Assets: |  |  |  |  |  |
Cash |  | $ | 21,812 |  |  | $ | 45,800 |
Equity securities |  |  | 2,190 |  |  |  | 1,072 |
Investment in bank subsidiary |  |  | 414,263 |  |  |  | 408,255 |
Investment in nonbank subsidiaries |  |  | 3,236 |  |  |  | 4,396 |
Other assets |  |  | 3,332 |  |  |  | 2,016 |
Total assets |  | $ | 444,833 |  |  | $ | 461,539 |
Liabilities: |  |  |  |  |  |
Deferred income taxes and other liabilities |  | $ | 6,199 |  |  | $ | 2,592 |
Subordinated debentures |  |  | 103,799 |  |  |  | 103,735 |
Total liabilities |  |  | 109,998 |  |  |  | 106,327 |
Shareholders’ Equity: |  |  |  |  |  |
Common stock |  |  | 310,182 |  |  |  | 277,741 |
Accumulated earnings |  |  | 156,492 |  |  |  | 125,558 |
Treasury stock |  |  | (73,794 | ) |  |  | (56,907 | )
Accumulated other comprehensive income (loss) |  |  | (58,045 | ) |  |  | 8,820 |
Total shareholders’ equity |  |  | 334,835 |  |  |  | 355,212 |
Total liabilities and shareholders’ equity |  | $ | 444,833 |  |  | $ | 461,539 |
Schedule of Condensed Statements of Operations |
|  | For the years ended December 31, |
Condensed Statements of Operations |  | 2022 |  |  | 2021 |  |  | 2020 |
Dividends from bank subsidiaries |  | $ | 26,300 |  |  | $ | 19,900 |  |  | $ | 15,300 |
Dividends from non-bank subsidiaries |  |  | 1,150 |  |  |  | 1,000 |  |  |  | 440 |
Interest expense |  |  | (3,781 | ) |  |  | (956 | ) |  |  | (945 | )
Pension expense |  |  | 340 |  |  |  | (47 | ) |  |  | (25 | )
Other expense, net |  |  | (2,384 | ) |  |  | (1,004 | ) |  |  | (1,241 | )
Income before equity in undistributed net earnings of subsidiaries |  |  | 21,625 |  |  |  | 18,893 |  |  |  | 13,529 |
Income tax benefit |  |  | 1,140 |  |  |  | 425 |  |  |  | 475 |
Equity in undistributed net earnings of subsidiaries |  |  | 16,662 |  |  |  | 21,228 |  |  |  | 18,188 |
Net income |  | $ | 39,427 |  |  | $ | 40,546 |  |  | $ | 32,192 |
Comprehensive income (loss) |  | $ | (27,438 | ) |  | $ | 34,747 |  |  | $ | 39,937 |
Schedule of Condensed Statements of Cash Flows |
|  | For the years ended December 31, |
Condensed Statements of Cash Flows |  | 2022 |  |  | 2021 |  |  | 2020 |
Operating activities: |  |  |  |  |  |  |  |  |
Net income |  | $ | 39,427 |  |  | $ | 40,546 |  |  | $ | 32,192 |
Adjustment to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |
Change in other assets and other liabilities |  |  | 4,587 |  |  |  | 2,495 |  |  |  | 1,925 |
Equity in undistributed net earnings of subsidiaries |  |  | (16,662 | ) |  |  | (21,228 | ) |  |  | (18,188 | )
Net cash from operating activities |  |  | 27,352 |  |  |  | 21,813 |  |  |  | 15,929 |
Investing activities: |  |  |  |  |  |  |  |  |
Disposal of minority interest |  |  | — |  |  |  | 11,500 |  |  |  | — |
Acquisition and additional capitalization of subsidiary, net of cash acquired |  |  | (25,960 | ) |  |  | (50,000 | ) |  |  | — |
Net cash used for investing activities |  |  | (25,960 | ) |  |  | (38,500 | ) |  |  | — |
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from subordinated debenture, net of issuance costs |  |  | — |  |  |  | 73,386 |  |  |  | — |
Purchase of treasury stock |  |  | (16,887 | ) |  |  | (22,309 | ) |  |  | (13,454 | )
Cash dividends paid |  |  | (8,493 | ) |  |  | (8,036 | ) |  |  | (7,118 | )
Net cash provided by (used for) financing activities |  |  | (25,380 | ) |  |  | 43,041 |  |  |  | (20,572 | )
Net change in cash and cash equivalents |  |  | (23,988 | ) |  |  | 26,354 |  |  |  | (4,643 | )
Cash and cash equivalents at beginning of year |  |  | 45,800 |  |  |  | 19,446 |  |  |  | 24,089 |
Cash and cash equivalents at end of year |  | $ | 21,812 |  |  | $ | 45,800 |  |  | $ | 19,446 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration