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Condensed Financial Statements of Parent Company
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Statements of Parent Company
Note 21 – Condensed Financial Statements of Parent Company

Information relative to the parent company’s condensed balance sheets at December 31, 2024 and 2023 and the related condensed statements of income and cash flows for the years ended December 31, 2024, 2023 and 2022 are presented below:

Condensed Balance Sheets
 December 31,
(Dollars in thousands)20242023
Assets  
Cash$12,528 $8,590 
Investment in subsidiaries320,417 319,504 
Debt and equity securities1,400 2,400 
Equity method investments54,770 54,199 
Other assets18,982 14,835 
     Total assets$408,097 $399,528 
Liabilities and stockholders’ equity  
Other liabilities$28,631 $29,818 
Subordinated debt73,787 73,540 
Senior term loan— 6,786 
     Total liabilities102,418 110,144 
     Total stockholders’ equity305,679 289,384 
     Total liabilities and stockholders’ equity$408,097 $399,528 

Condensed Statements of Income
 Year ended December 31,
(Dollars in thousands)202420232022
Income, dividends from the Bank$48,579 $23,014 $50,985 
Operating expenses 31,058 27,002 27,774 
Income (loss), before income taxes17,521 (3,988)23,211 
Income taxes(4,272)(4,050)(3,450)
Net income 21,793 62 26,661 
Equity in undistributed income earnings (losses) of subsidiaries(1,702)31,170 (11,614)
Net income$20,091 $31,232 $15,047 
Condensed Statements of Cash Flows
(Dollars in thousands)202420232022
OPERATING ACTIVITIES   
     Net income$20,091 $31,232 $15,047 
     Equity in undistributed earnings (losses) of subsidiaries1,702 (31,170)11,614 
     Stock-based compensation3,330 3,392 3,217 
     Depreciation and amortization305 305 269 
     Changes in other assets(5,118)(11,638)(45,406)
     Changes in other liabilities(251)(2,887)16,358 
     Net cash from operating activities20,059 (10,766)1,099 
INVESTING ACTIVITIES   
     Investment in subsidiaries(1,550)150 (240)
     Net cash from investing activities(1,550)150 (240)
FINANCING ACTIVITIES   
     Issuance of senior term loan— — 9,877 
     Common stock options exercised1,489 637 2,069 
     Withholding cash issued in lieu of restricted stock(443)(847)(670)
     Principal payments on senior term loan(6,845)(3,030)(125)
     Stock purchase from noncontrolling interest— — (33)
     Cash dividends paid on common stock(8,772)(8,639)(8,355)
     Net cash from financing activities(14,571)(11,879)2,763 
Net change in cash and cash equivalents3,938 (22,495)3,622 
Cash and cash equivalents, beginning of period8,590 31,085 27,463 
Cash and cash equivalents, end of period$12,528 $8,590 $31,085