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Parent Only Condensed Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Parent Only Condensed Financial Information [Abstract] |
Statements of Financial Condition |
STATEMENTS OF FINANCIAL CONDITION |  |  |  |  |
| Years Ended December 31,
|  | 2024 |  |  | 2023
| (In Thousands)
Assets |  |  |  |  |
Cash and due from banks | $ | 3,289 |  | $ | 1,290
Investment in subsidiaries |  | 364,781 |  |  | 349,775
Restricted common stock |  | 124 |  |  | 124
Other assets |  | 402 |  |  | 1,172
Total assets |  | 368,596 |  |  | 352,361
Liabilities and Stockholders' Equity |  |  |  |  |
Liabilities |  |  |  |  |
Subordinated debentures | $ | 42,961 |  | $ | 37,624
Other liabilities |  | 1,710 |  |  | 682
Total liabilities |  | 44,671 |  |  | 38,306
Stockholders' Equity |  | 323,925 |  |  | 314,055
Total Liabilities and Stockholders' Equity | $ | 368,596 |  | $ | 352,361
Statements of Operations |
STATEMENTS OF OPERATIONS |  |  |  |  |  |  |  |
| Years Ended December 31,
|  | 2024 |  |  | 2023 |  |  | 2022
| (In Thousands)
Dividends from Bank | $ | 19,387 |  | $ | 20,580 |  | $ | 22,338
Interest and dividends from investments |  | 2 |  |  | 2 |  |  | -
Total Income |  | 19,389 |  |  | 20,582 |  |  | 22,338
Interest expense, borrowed money |  | 3,894 |  |  | 2,725 |  |  | 2,299
Other |  | 442 |  |  | 422 |  |  | 366
Total Expense |  | 4,336 |  |  | 3,147 |  |  | 2,665
Income before Income Tax Benefit and Equity in Undistributed Earnings of Subsidiaries |  | 15,053 |  |  | 17,435 |  |  | 19,673
Income tax benefit |  | (1,273) |  |  | (924) |  |  | (843)
Income before Equity in Undistributed Earnings of Subsidiaries |  | 16,326 |  |  | 18,359 |  |  | 20,516
Equity in undistributed earnings of subsidiaries |  | 2,297 |  |  | 11,124 |  |  | 25,063
Net Income | $ | 18,623 |  | $ | 29,483 |  | $ | 45,579
Statements of Cash Flows |
STATEMENTS OF CASH FLOWS |  |  |  |  |  |  |  |
| Years Ended December 31,
|  | 2024 |  |  | 2023 |  |  | 2022
| (In Thousands)
Cash Flows from Operating Activities |  |  |  |  |  |  |  |
Net Income | $ | 18,623 |  | $ | 29,483 |  | $ | 45,579
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Amortization |  | 83 |  |  | 116 |  |  | 233
Equity in undistributed earnings of subsidiaries |  | (2,297) |  |  | (11,124) |  |  | (25,063)
Decrease (increase) in other assets |  | 770 |  |  | (1,062) |  |  | 1,223
(Decrease) increase in other liabilities |  | 1,028 |  |  | (303) |  |  | (149)
Net Cash Provided By Operating Activities |  | 18,207 |  |  | 17,110 |  |  | 21,823
Cash Flows from Investing Activities |  |  |  |  |  |  |  |
Additional investment in subsidiary |  | (9,690) |  |  | (8,227) |  |  | (2,220)
Net Cash Used In Investing Activities | $ | (9,690) |  | $ | (8,227) |  | $ | (2,220)
Cash Flows from Financing Activities |  |  |  |  |  |  |  |
Proceeds from issuance of preferred stock |  | 9,690 |  |  | 15,270 |  |  | 6,810
Redemption of preferred stock |  | (10,010) |  |  | (11,230) |  |  | (14,730)
Proceeds from issuance of common stock |  | 824 |  |  | 1,773 |  |  | 639
Proceeds from issuance of subordinated debt |  | 38,754 |  |  | - |  |  | -
Redemption of subordinated debt |  | (33,500) |  |  | - |  |  | -
Cash dividends paid |  | (12,276) |  |  | (11,142) |  |  | (11,175)
Purchase of treasury stock |  | - |  |  | (3,816) |  |  | (3,406)
Net Cash Provided by (Used in) Financing Activities |  | (6,518) |  |  | (9,145) |  |  | (21,862)
Net Increase (Decrease) in Cash and Cash Equivalents |  | 1,999 |  |  | (263) |  |  | (2,259)
Cash and Cash Equivalents - Beginning | $ | 1,290 |  | $ | 1,553 |  | $ | 3,812
Cash and Cash Equivalents - Ending | $ | 3,289 |  | $ | 1,290 |  | $ | 1,553

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