Condensed Parent Company Only Financial Statements (Tables)
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12 Months Ended |
Dec. 31, 2021 |
| Condensed Financial Information Disclosure [Abstract] |
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| Schedule of Condensed Balance Sheet |
Balance Sheets | | | | | | | | | | | | | | | | | | December 31, | | (Dollars in thousands, except per share data) | | 2021 | | 2020 | | Assets | | | | | | Cash | | $ | 1,981 | | | $ | 3,302 | | | Investment in subsidiaries | | 404,975 | | | 406,032 | | | Other assets | | 365 | | | 430 | | | Total assets | | $ | 407,321 | | | $ | 409,764 | | | Liabilities and Shareholders' Equity | | | | | | Liabilities | | | | | | Subordinated debt | | $ | 58,979 | | | $ | 73,744 | | | Accrued interest payable | | 1,444 | | | 1,591 | | | Other liabilities | | 3 | | | 3 | | | Total liabilities | | 60,426 | | | 75,338 | | | Shareholders' equity: | | | | | Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued | | — | | | — | | Common stock $0.01 par value per share; 40,000,000 shares authorized; 12,038,382 and 11,937,795 shares issued, respectively | | 120 | | | 119 | | | Additional paid-in capital | | 100,352 | | | 97,137 | | | Retained earnings | | 241,761 | | | 214,977 | | | Accumulated other comprehensive income | | 4,662 | | | 22,193 | | | Total shareholders' equity | | 346,895 | | | 334,426 | | | Total liabilities and shareholders' equity | | $ | 407,321 | | | $ | 409,764 | |
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| Schedule of Condensed Income Statement |
Statements of Income | | | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | (Dollars in thousands) | | 2021 | | 2020 | | 2019 | | Equity in undistributed net income of subsidiaries | | $ | 22,985 | | | $ | 30,309 | | | $ | 29,329 | | | Dividends distributed by subsidiaries | | 22,350 | | | 3,100 | | | 5,700 | | |
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| Total income | | 45,335 | | | 33,409 | | | 35,029 | | | Interest expense | | 3,495 | | | 2,502 | | | 925 | | | Other operating expenses | | 891 | | | 215 | | | 226 | | | Total operating expenses | | 4,386 | | | 2,717 | | | 1,151 | | | Income before income taxes | | 40,949 | | | 30,692 | | | 33,878 | | | Benefit from income taxes | | (1,222) | | | (764) | | | (322) | | | Net income | | $ | 42,171 | | | $ | 31,456 | | | $ | 34,200 | |
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| Schedule of Condensed Cash Flow Statement |
Statements of Cash Flows | | | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | (Dollars in thousands) | | 2021 | | 2020 | | 2019 | | Cash flows from operating activities: | | | | | | | | Net income | | $ | 42,171 | | | $ | 31,456 | | | $ | 34,200 | | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | Equity in undistributed net income of subsidiaries | | (22,985) | | | (30,309) | | | (29,329) | | | Payment from subsidiary bank for stock compensation expense | | 2,094 | | | 1,872 | | | 1,869 | | | Changes in: | | | | | | | | Net decrease (increase) in other assets | | 66 | | | (229) | | | (3) | | | Net (decrease) increase in other liabilities | | (25) | | | 385 | | | 12 | | | Net cash provided by operating activities | | 21,321 | | | 3,175 | | | 6,749 | | | Cash flows from investing activities: | | | | | | | | Investment in subsidiary | | — | | | (53,000) | | | — | | | Net cash provided by investing activities | | — | | | (53,000) | | | — | | | Cash flows from financing activities: | | | | | | | Repayment of subordinated debt(2) | | (14,887) | | | — | | | — | | | Proceeds from the issuance of subordinated debt | | — | | | 60,000 | | | — | | | Cash dividends paid, net of dividend reinvestment plan | | (7,627) | | | (7,105) | | | (6,371) | | | Proceeds from issuance of common stock | | 59 | | | 91 | | | 69 | | | Net settlement for employee tax withholding on restricted stock and options | | (346) | | | (233) | | | (402) | | | Net proceeds from exercise of stock options | | 159 | | | 21 | | | 185 | | |
| Net cash (used in) provided by financing activities | | (22,642) | | | 52,774 | | | (6,519) | | | Net (decrease) increase in cash and cash equivalents | | (1,321) | | | 2,949 | | | 230 | | | Cash at beginning of year | | 3,302 | | | 353 | | | 123 | | | Cash at end of year | | $ | 1,981 | | | $ | 3,302 | | | $ | 353 | |
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