Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2024

NOTE 20 - PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of CBI follows:


	December 31,
Condensed Balance Sheets	2024			2023
Assets:
Cash	$	8,879		$	8,331
Equity securities		2,421			2,169
Investment in bank subsidiary		460,070			450,791
Investment in nonbank subsidiaries		4,041			3,917
Other assets		18,841			12,354
Total assets	$	494,252		$	477,562
Liabilities:
Other liabilities	$	1,661		$	1,618
Subordinated debentures		104,089			103,943
Total liabilities		105,750			105,561
Shareholders’ Equity:
Common stock		312,037			311,166
Accumulated earnings		205,408			183,787
Treasury stock		(75,586	)		(75,422	)
Accumulated other comprehensive loss		(53,357	)		(47,530	)
Total shareholders’ equity		388,502			372,001
Total liabilities and shareholders’ equity	$	494,252		$	477,562


	For the years ended December 31,
Condensed Statements of Operations	2024			2023			2022
Dividends from bank subsidiaries	$	20,300		$	28,100		$	26,300
Dividends from non-bank subsidiaries		1,350			1,390			1,150
Interest expense		(4,931	)		(4,849	)		(3,781	)
Pension benefit		407			150			340
Other expense, net		(2,223	)		(1,518	)		(2,384	)
Income before equity in undistributed net earnings of subsidiaries		14,903			23,273			21,625
Income tax benefit		1,418			1,309			1,140
Equity in undistributed net earnings of subsidiaries		15,362			18,382			16,662
Net income	$	31,683		$	42,964		$	39,427
Comprehensive income (loss)	$	25,856		$	53,489		$	(27,438	)


	For the years ended December 31,
Condensed Statements of Cash Flows	2024			2023			2022
Operating activities:
Net income	$	31,683.00		$	42,964.00		$	39,427.00
Adjustment to reconcile net income to net cash from operating activities:
Change in other assets and other liabilities		(5,546	)		(12,836	)		4,587
Equity in undistributed net earnings of subsidiaries		(15,362	)		(18,382	)		(16,662	)
Net cash provided by operating activities		10,775			11,746			27,352
Investing activities:
Acquisition and additional capitalization of subsidiary, net of cash acquired		—			(14,000	)		(25,960	)
Net cash used in investing activities		—			(14,000	)		(25,960	)
Financing activities:
Purchase of treasury stock		(164	)		(1,628	)		(16,887	)
Cash dividends paid		(10,063	)		(9,599	)		(8,493	)
Net cash used in financing activities		(10,227	)		(11,227	)		(25,380	)
Net change in cash and cash equivalents		548			(13,481	)		(23,988	)
Cash and cash equivalents at beginning of year		8,331			21,812			45,800
Cash and cash equivalents at end of year	$	8,879		$	8,331		$	21,812