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CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets | Condensed Balance Sheets
|  | December 31,
(Dollars in thousands) |  | 2021 |  | 2020
Assets |  |  |  |
Cash |  | $ | 27,463 |  |  | $ | 15,566 |
Investment in subsidiaries |  | 322,002 |  |  | 265,679 |
Other assets |  | 13,715 |  |  | 6,077 |
Total assets |  | $ | 363,180 |  |  | $ | 287,322 |
Liabilities and stockholders’ equity |  |  |  |
Other liabilities |  | $ | 15,822 |  |  | $ | 4,432 |
Subordinated debt |  | 73,030 |  |  | 43,407 |
Total liabilities |  | 88,852 |  |  | 47,839 |
Total stockholders’ equity |  | 274,328 |  |  | 239,483 |
Total liabilities and stockholders’ equity |  | $ | 363,180 |  |  | $ | 287,322 |
Condensed Statements of Income | Condensed Statements of Income
|  | Year ended December 31,
(Dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Income, dividends from the Bank |  | $ | 19,165 |  |  | $ | 6,688 |  |  | $ | 6,280 |
Operating expenses |  | 22,458 |  |  | 16,804 |  |  | 14,296 |
Loss from continuing operations, before income taxes |  | (3,293) |  |  | (10,116) |  |  | (8,016) |
Income tax benefit - continuing operations |  | (2,090) |  |  | (2,082) |  |  | (1,880) |
Net loss from continuing operations |  | (1,203) |  |  | (8,034) |  |  | (6,136) |
Income from discontinued operations, before income taxes |  | — |  |  | — |  |  | 575 |
Income tax expense - discontinued operations |  | — |  |  | — |  |  | 148 |
Net income from discontinued operations |  | — |  |  | — |  |  | 427 |
Equity in undistributed income earnings of subsidiaries |  | 40,324 |  |  | 45,445 |  |  | 32,700 |
Net income |  | $ | 39,121 |  |  | $ | 37,411 |  |  | $ | 26,991 |
Preferred dividends |  | $ | 35 |  |  | $ | 461 |  |  | $ | 479 |
Net income available to common shareholders |  | $ | 39,086 |  |  | $ | 36,950 |  |  | $ | 26,512 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
(Dollars in thousands) |  | 2021 |  | 2020 |  | 2019
OPERATING ACTIVITIES |  |  |  |  |  |
Net income |  | $ | 39,121 |  |  | $ | 37,411 |  |  | $ | 26,991 |
Equity in undistributed earnings of subsidiaries |  | (40,324) |  |  | (45,445) |  |  | (32,700) |
Stock-based compensation |  | 3,208 |  |  | 2,278 |  |  | 1,759 |
Other assets |  | (6,849) |  |  | (2,101) |  |  | (4,104) |
Other liabilities |  | 11,390 |  |  | 1,767 |  |  | 344 |
Net cash from operating activities |  | 6,546 |  |  | (6,090) |  |  | (7,710) |
INVESTING ACTIVITIES |  |  |  |  |  |
Investment in subsidiaries |  | (15,871) |  |  | (3,713) |  |  | 16,791 |
Net cash from investing activities |  | (15,871) |  |  | (3,713) |  |  | 16,791 |
FINANCING ACTIVITIES |  |  |  |  |  |
Proceeds from stock issuance |  | — |  |  | 240 |  |  | 1,033 |
Subordinated debt issuance (redemption), net of issuance costs |  | 29,448 |  |  | 40,000 |  |  | (12,400) |
Common stock repurchased |  | — |  |  | (15,657) |  |  | — |
Preferred stock redemption |  | (7,334) |  |  | — |  |  | (500) |
Common stock options exercised |  | 4,930 |  |  | 4,464 |  |  | 2,164 |
Withholding cash issued in lieu of restricted stock |  | (249) |  |  | — |  |  | — |
Issuance of subsidiary membership units |  | 500 |  |  | — |  |  | — |
Cash dividends paid on common stock |  | (6,038) |  |  | (4,275) |  |  | (2,290) |
Cash dividends paid on preferred stock |  | (35) |  |  | (461) |  |  | (479) |
Net cash from financing activities |  | 21,222 |  |  | 24,311 |  |  | (12,472) |
Net change in cash |  | 11,897 |  |  | 14,508 |  |  | (3,391) |
Cash at beginning of period |  | 15,566 |  |  | 1,058 |  |  | 4,449 |
Cash at end of period |  | $ | 27,463 |  |  | $ | 15,566 |  |  | $ | 1,058 |
Noncash common stock converted from subordinated debt |  | $ | — |  |  | $ | — |  |  | $ | 1,000 |

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