Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

Parent Company Only Financial Information [Abstract]

Schedule of Condensed Balance Sheet

Condensed Balance Sheets	December 31,
(Dollars in thousands)	2023		2022
Assets:
Cash and due from other banks	$	50	$	50
Interest-bearing deposits in subsidiary bank	17,099		14,961
Due from subsidiary bank	771		1,353
Other investment securities	237		234
Investments in subsidiaries:
Bank	1,072,238		774,294
Non-bank	17,606		11,944
Other assets	12,084		2,877
Total assets	$	1,120,085	$	805,713
Liabilities:
Accrued expenses and other liabilities	$	3,342	$	3,336
Dividends payable	938		781
Mandatorily redeemable capital securities of subsidiary trusts and junior subordinated debentures	62,271		16,268
Total liabilities	66,551		20,385
Total stockholders’ equity	1,053,534		785,328
Total liabilities and stockholders’ equity	$	1,120,085	$	805,713

Schedule of Condensed Income Statement

Condensed Statements of Income	Year Ended December 31,
(Dollars in thousands)	2023		2022		2021
Income:
Dividends from subsidiary bank	$	48,000	$	52,000	$	29,000
Dividends from non-bank subsidiary	200		1,860		1,750
Interest and other income	11		39		73
Total income	48,211		53,899		30,823
Expense:
Trust preferred securities expense	1,147		744		367
Intercompany management fees	1,873		1,379		1,303
Other expense	11,011		6,539		5,675
Total expense	14,031		8,662		7,345
Income before federal income taxes and equity in undistributed earnings of subsidiaries	34,180		45,237		23,478
Applicable income tax expense	(3,296)		(1,979)		(1,295)
Equity in undistributed earnings of subsidiaries	75,887		54,076		22,782
Net income	$	113,363	$	101,292	$	47,555

Schedule of Condensed Cash Flow Statement

Statements of Cash Flows	Year Ended December 31,
(Dollars in thousands)	2023		2022		2021
Operating activities
Net income	$	113,363	$	101,292	$	47,555
Adjustments to reconcile net income to cash provided by operations:
Depreciation, amortization and accretion, net	—		138		6,224
Equity in undistributed earnings of subsidiaries	(75,887)		(54,076)		(22,782)
Gain on investment securities	—		—		—
Other, net	(6,757)		5,008		3,930
Net cash provided by operating activities	30,719		52,362		34,927
Investing activities
Net proceeds from sales and maturities of investment securities	—		—		10
Investment in subsidiaries	(39,414)		(13,084)		(16,282)
Decrease in receivable from subsidiary	40,086		12,279		16,344
Business combinations, net of cash received	27,763		(1,239)		(710)
Other, net	(1,636)		(262)		(1,998)
Net cash used in investing activities	26,799		(2,306)		(2,636)
Financing activities
Purchase of treasury stock	(4,799)		(9,152)		(1,306)
Proceeds from issuance of common shares	1,264		1,226		906
Cash dividends paid	(51,845)		(42,371)		(31,002)
Net cash used in financing activities	(55,380)		(50,297)		(31,402)
Net increase (decrease) in cash and cash equivalents	2,138		(241)		889
Cash and cash equivalents at the beginning of year	15,011		15,252		14,363
Cash and cash equivalents at the end of year	$	17,149	$	15,011	$	15,252
Supplemental cash flow information:
Interest paid	$	676	$	663	$	331