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Parent Only Condensed Financial Information

12 Months Ended

Dec. 31, 2025

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,
		2025			2024
	(In Thousands)
Assets
Cash and due from banks	$	863		$	3,289
Investment in subsidiaries		347,934			364,781
Restricted common stock		124			124
Other assets		315			402
Total assets		349,236			368,596
Liabilities and Stockholders' Equity
Liabilities
Subordinated debentures	$	43,210		$	42,961
Other liabilities		1,742			1,710
Total liabilities		44,952			44,671
Stockholders' Equity		304,284			323,925
Total Liabilities and Stockholders' Equity	$	349,236		$	368,596

STATEMENTS OF OPERATIONS
	Years Ended December 31,
		2025			2024			2023
	(In Thousands)
Dividends from Bank	$	11,421		$	19,387		$	20,580
Interest and dividends from investments		1			2			2
Total Income		11,422			19,389			20,582
Interest expense, borrowed money		4,268			3,894			2,725
Other		381			442			422
Total Expense		4,649			4,336			3,147
Income before Income Tax Benefit and Equity in Undistributed Earnings of Subsidiaries		6,773			15,053			17,435
Income tax benefit		(1,346)			(1,273)			(924)
Income before Equity in Undistributed Earnings of Subsidiaries		8,119			16,326			18,359
Equity in undistributed (losses) earnings of subsidiaries		(20,646)			2,297			11,124
Net (Loss) Income	$	(12,527)		$	18,623		$	29,483

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Note 20 - Parent Only Condensed Financial Information

STATEMENTS OF CASH FLOWS
	Years Ended December 31,
		2025			2024			2023
	(In Thousands)
Cash Flows from Operating Activities
Net (Loss) Income	$	(12,527)		$	18,623		$	29,483
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization		249			83			116
Equity in undistributed losses (earnings) of subsidiaries		20,646			(2,297)			(11,124)
Decrease (increase) in other assets		87			770			(1,062)
(Decrease) increase in other liabilities		32			1,028			(303)
Net Cash Provided By Operating Activities		8,487			18,207			17,110
Cash Flows from Investing Activities
Additional investment in subsidiary		-			(9,690)			(8,227)
Net Cash Used In Investing Activities	$	-		$	(9,690)		$	(8,227)
Cash Flows from Financing Activities
Proceeds from issuance of preferred stock		520			9,690			15,270
Redemption of preferred stock		-			(10,010)			(11,230)
Proceeds from issuance of common stock		1,120			824			1,773
Proceeds from issuance of subordinated debt		-			38,754			-
Redemption of subordinated debt		-			(33,500)			-
Cash dividends paid		(12,553)			(12,276)			(11,142)
Purchase of treasury stock		-			-			(3,816)
Net Cash Used in Financing Activities		(10,913)			(6,518)			(9,145)
Net (Decrease) Increase in Cash and Cash Equivalents		(2,426)			1,999			(263)
Cash and Cash Equivalents - Beginning	$	3,289		$	1,290		$	1,553
Cash and Cash Equivalents - Ending	$	863		$	3,289		$	1,290

‎

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- References

No definition available.

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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 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 3: 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 4: 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

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