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Parent Company Statements
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Parent Company Statements Parent Company Statements
CONDENSED BALANCE SHEETS
December 31,
(In thousands)20232022
ASSETS
Cash and cash equivalents$10,064 $1,849 
Investment in subsidiaries575,971 567,581 
Other assets4,252 845 
Total assets$590,287 $570,275 
LIABILITIES AND SHAREHOLDERS' EQUITY
Subordinated debt and trust preferred securities$46,354 $56,941 
Other liabilities1,583 1,235 
Shareholders' equity542,350 512,099 
Total liabilities and shareholders' equity$590,287 $570,275 
CONDENSED STATEMENTS OF INCOME
Years Ended December 31,
(In thousands)202320222021
Income
Dividends from subsidiaries$— $— $3,897 
Other income147 1,130 35 
Total Income147 1,130 3,932 
Expenses10,865 7,333 15,391 
(Loss) income before income tax and equity in undistributed earnings of subsidiaries(10,718)(6,203)(11,459)
Income Tax Benefit2,932 702 3,140 
Equity in undistributed earnings of subsidiaries45,183 60,307 37,638 
Net Income$37,397 $54,806 $29,319 
CONDENSED STATEMENTS OF CASH FLOWS
Years Ended December 31,
(In thousands)202320222021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income$37,397 $54,806 $29,319 
Equity in undistributed earnings of subsidiaries(45,183)(60,307)(37,638)
Stock based compensation1,103 1,142 696 
Amortization of debt issuance costs7 26 26 
Net change in other assets (3,407)759 (1,735)
Net change in other liabilities(246)(6,285)13,356 
Net cash (used in) provided by operating activities(10,329)(9,859)4,024 
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash paid for acquisition(25,574)— (792)
Investment in subsidiary71,493 (1,787)(27,353)
Net cash provided by (used in) investing activities45,919 (1,787)(28,145)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid(12,981)(12,735)(8,872)
Employee and Director Stock Purchase Plans stock issuance482 364 307 
Proceeds from issuance of common stock— — 70,545 
Treasury stock purchased(4,876)(2,957)(128)
Riverview restricted stock (1)
— 776 — 
Subordinated debt and trust preferred securities redemption(10,000)(16,778)(6,870)
Other, net— — (283)
Net cash (used in) provided by financing activities(27,375)(31,330)54,699 
Net increase (decrease) in cash and cash equivalents8,215 (42,976)30,578 
Cash and cash equivalents, beginning of year1,849 44,825 14,247 
Cash and cash equivalents, end of year$10,064 $1,849 $44,825 
(1) Additionally, 2,500 shares of restricted stock were paid out in cash resulting in $776 thousand of cash consideration relating to stock awards.