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Parent Only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2022
Parent Only Condensed Financial Information [Abstract] |
Parent Only Condensed Financial Information | Note 20 - Parent Only Condensed Financial Information
STATEMENTS OF FINANCIAL CONDITION |  |  |  |  |
| Years Ended December 31,
|  | 2022 |  |  | 2021
|  | (In Thousands)
Assets |  |  |  |  |
Cash and due from banks | $ | 1,553 |  | $ | 3,812
Investment in subsidiaries |  | 327,960 |  |  | 307,165
Restricted common stock |  | 124 |  |  | 124
Other assets |  | 110 |  |  | 1,331
Total assets |  | 329,747 |  |  | 312,432
Liabilities and Stockholders' Equity |  |  |  |  |
Liabilities |  |  |  |  |
Subordinated debentures | $ | 37,508 |  | $ | 37,275
Other Liabilities |  | 985 |  |  | 1,133
Total liabilities |  | 38,493 |  |  | 38,408
Stockholder's Equity |  | 291,254 |  |  | 274,024
Total Liabilities and Stockholders' Equity | $ | 329,747 |  | $ | 312,432
STATEMENTS OF OPERATIONS |  |  |  |  |
|  | Years Ended December 31,
|  | 2022 |  |  | 2021
|  | (In Thousands)
Dividends from Bank | $ | 22,338 |  | $ | 15,885
Interest and dividends from investments |  | - |  |  | -
Total Income |  | 22,338 |  |  | 15,885
Interest expense, borrowed money |  | 2,299 |  |  | 2,230
Other |  | 366 |  |  | 353
Total Expense |  | 2,665 |  |  | 2,583
Income before Income Tax Expense and Equity in Undistributed Earnings of Subsidiaries |  | 19,673 |  |  | 13,302
Income tax benefit |  | (843) |  |  | (777)
Income before Equity in Undistributed Earnings of Subsidiaries |  | 20,516 |  |  | 14,079
Equity in undistributed earnings of subsidiaries |  | 25,063 |  |  | 20,161
Net Income | $ | 45,579 |  | $ | 34,240
STATEMENTS OF CASH FLOWS |  |  |  |  |
|  | Years Ended December 31,
|  | 2022 |  |  | 2021
|  | (In Thousands)
Cash Flows from Operating Activities |  |  |  |  |
Net Income | $ | 45,579 |  | $ | 34,240
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Amortization |  | 233 |  |  | 233
Equity in undistributed earnings of subsidiaries |  | (25,063) |  |  | (20,161)
Decrease (increase) in other assets |  | 1,223 |  |  | (781)
(Decrease) increase in other liabilities |  | (149) |  |  | 10
Net Cash Provided By Operating Activities |  | 21,823 |  |  | 13,541
Cash Flows from Investing Activities |  |  |  |  |
Additional investment in subsidiary |  | (2,220) |  |  | (289)
Net Cash Used In Investing Activities | $ | (2,220) |  | $ | (289)
Cash Flows from Financing Activities |  |  |  |  |
Proceeds from issuance of preferred stock |  | 6,810 |  |  | 3,200
Redemption of preferred stock |  | (14,730) |  |  | -
Proceeds from issuance of common stock |  | 639 |  |  | 765
Cash dividends paid |  | (11,175) |  |  | (10,935)
Purchase of treasury stock |  | (3,406) |  |  | (4,207)
Net Cash Provided by (Used in) Financing Activities |  | (21,862) |  |  | (11,177)
Net Increase (Decrease) in Cash and Cash Equivalents |  | (2,259) |  |  | 2,075
Cash and Cash Equivalents - Beginning | $ | 3,812 |  | $ | 1,737
Cash and Cash Equivalents - Ending | $ | 1,553 |  | $ | 3,812
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -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
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