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Note 22 - Parent Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Condensed Balance Sheet [Table Text Block]

*(dollars in thousands)*		*2023*				*2022*
ASSETS
Cash and cash equivalents		$	47,125			$	43,718
Investment in Bank			589,998				621,580
Investment in RAM			3,244				3,049
Other assets			6,333				6,161
Total assets		$	646,700			$	674,508

LIABILITIES AND SHAREHOLDERS' EQUITY
Long term debt			119,147				173,585
Subordinated debentures			14,938				14,720
Other liabilities			1,355				1,640
Total liabilities			135,440				189,945
Shareholders' equity:
Common stock			271,925				276,912
Additional paid-in capital			3,623				3,361
Retained earnings			255,152				225,883
Non-controlling interest			72				72
Accumulated other comprehensive loss			(19,512	)			(21,665	)
Total shareholders' equity			511,260				484,563
Total liabilities and shareholders' equity		$	646,700			$	674,508

Condensed Income Statement [Table Text Block]

*(dollars in thousands)*		*2023*				*2022*				*2021*
Dividend from subsidiaries		$	85,000			$	—			$	25,000
Interest (reversal)/income			(41	)			52				—
Interest expense			9,951				9,645				8,999
Noninterest expense			1,897				2,056				1,452
Income/(loss) before equity in undistributed income of subsidiaries			73,111				(11,649	)			14,549
(Distributed income in excess of earnings)/undistributed income of:
Bank			(34,477	)			72,340				39,109
RAM			195				57				59
Income before income taxes			38,829				60,748				53,717
Income tax benefit			3,636				3,579				3,189
Net income			42,465				64,327				56,906
Other comprehensive income/(loss)			2,153				(20,009	)			(2,785	)
Total comprehensive income		$	44,618			$	44,318			$	54,121

Condensed Cash Flow Statement [Table Text Block]

*(dollars in thousands)*		*2023*				*2022*				*2021*
Cash flows from operating activities:
Net income		$	42,465			$	64,327			$	56,906
Net amortization of other			780				796				724
Provision for deferred income taxes			(72	)			(57	)			(337	)
Distributed income in excess of earnings/(undistributed income) of subsidiaries			34,282				(72,397	)			(39,168	)
Change in other assets and liabilities			113				216				1,645
Net cash provided by/(used in) operating activities			77,568				(7,115	)			19,770
Cash flows from investment activities:
Purchase of other equity securities, net			(490	)			(1,663	)			(380	)
Net cash used in investing activities			(490	)			(1,663	)			(380	)
Cash flows from financing activities:
Issuance of subordinated debentures, net of issuance costs			—				—				118,111
Redemptions of subordinated debentures			(55,000	)			—				(50,000	)
Dividends paid			(12,163	)			(10,736	)			(9,947	)
Common stock repurchased, net of repurchased costs			(6,803	)			(19,822	)			(10,540	)
Stock options exercised			295				5,476				3,475
Net cash (used in)/provided by financing activities			(73,671	)			(25,082	)			51,099

Increase/(decrease) in cash and cash equivalents			3,407				(33,860	)			70,489
Cash and cash equivalents beginning of year			43,718				77,578				7,089
Cash and cash equivalents end of year		$	47,125			$	43,718			$	77,578