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Parent Only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2024
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,
|  | 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 |  |  |  |  |  |  |  |
| 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
‎ Note 20 - Parent Only Condensed Financial Information
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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- 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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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