Condensed Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

Balance Sheets

	December 31,
(Dollars in thousands, except per share data)	2024		2023
Assets
Cash	$	2,357	$	2,089
Investment in subsidiaries	419,658		387,978
Total assets	$	422,015	$	390,067
Liabilities and Shareholders' Equity
Liabilities
Subordinated debt	$	59,815	$	59,498
Accrued interest payable	1,444		1,444
Other liabilities	8		8
Total liabilities	61,267		60,950
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; 12,447,308 and 12,272,674 shares issued, respectively	124		123
Additional paid-in capital	111,295		107,377
Retained earnings	328,243		301,380
Accumulated other comprehensive loss	(78,914)		(79,763)
Total shareholders' equity	360,748		329,117
Total liabilities and shareholders' equity	$	422,015	$	390,067

Schedule of Condensed Income Statement

Statements of Income

	For the years ended December 31,
(Dollars in thousands)	2024		2023		2022
Equity in undistributed net income of subsidiaries	$	30,801	$	30,315	$	36,701
Dividends distributed by subsidiaries	10,600		10,200		8,900
Total income	41,401		40,515		45,601
Interest expense	3,467		3,467		3,352
Other operating expenses	268		347		270
Total operating expenses	3,735		3,814		3,622
Income before income taxes	37,666		36,701		41,979
Benefit from income taxes	(1,067)		(1,357)		(737)
Net income	$	38,733	$	38,058	$	42,716

Schedule of Condensed Cash Flow Statement

Statements of Cash Flows

	For the years ended December 31,
(Dollars in thousands)	2024		2023		2022
Cash flows from operating activities:
Net income	$	38,733	$	38,058	$	42,716
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries	(30,801)		(30,315)		(36,701)
Payment from subsidiary bank for stock compensation expense	2,335		2,305		2,315
Changes in:
Net (increase) decrease in other assets	(30)		(253)		205
Net increase in other liabilities	317		322		202
Net cash provided by operating activities	10,554		10,117		8,737
Cash flows from investing activities:
Investment in subsidiary	—		—		—
Net cash used in investing activities	—		—		—
Cash flows from financing activities:
Cash dividends paid, net of dividend reinvestment plan	(10,277)		(9,734)		(8,521)
Proceeds from issuance of common stock	37		44		47
Net settlement for employee tax withholding on restricted stock and options	(409)		(447)		(433)
Net proceeds from exercise of stock options	363		180		118
Net cash used in financing activities	(10,286)		(9,957)		(8,789)
Net increase (decrease) in cash and cash equivalents	268		160		(52)
Cash at beginning of year	2,089		1,929		1,981
Cash at end of year	$	2,357	$	2,089	$	1,929