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Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Statements PARENT COMPANY FINANCIAL STATEMENTS
Following are the condensed statements of condition, income and cash flows for the Company's parent company:

STATEMENTS OF CONDITION
December 31,
(In thousands)20222021
ASSETS    
Cash$40,076 $34,339 
Investment in subsidiary 460,753 558,045 
Receivable from subsidiary47 — 
Other assets9,410 19,259 
Total assets$510,286 $611,643 
LIABILITIES AND SHAREHOLDERS’ EQUITY  
Junior subordinated debentures$44,331 $44,331 
Due to subsidiary16 156 
Other liabilities14,660 25,862 
Shareholders’ equity451,279 541,294 
Total liabilities and shareholders’ equity$510,286 $611,643 

STATEMENTS OF INCOME
For the Year Ended
December 31,
(In thousands)202220212020
Operating Income      
Dividend income from subsidiary$31,700 $41,700 $39,400 
Other income 19 7 103 
Total operating income31,719 41,707 39,503 
Operating Expenses  
Interest on borrowings2,140 2,524 3,512 
Fees to Bank180 160 160 
Other operating expenses794 628 578 
Total operating expenses3,114 3,312 4,250 
Income before equity in undistributed income of subsidiaries and income taxes
28,605 38,395 35,253 
Equity in undistributed income of subsidiaries32,129 29,869 23,299 
Income before income taxes60,734 68,264 58,552 
Income tax benefit 705 750 934 
Net Income$61,439 $69,014 $59,486 
STATEMENTS OF CASH FLOWS
For the Year Ended
December 31,
(In thousands)202220212020
Operating Activities      
Net income$61,439 $69,014 $59,486 
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiaries(32,129)(29,869)(23,299)
Decrease (increase) in other assets9,219 4,244 (5,228)
(Decrease) increase in due to subsidiaries(187)202 71 
(Decrease) increase in other liabilities(1,051)(558)(83)
Net cash provided by operating activities37,291 43,033 30,947 
Investing Activities  
Proceeds from other investments— — 1,712 
Net cash provided by investing activities— — 1,712 
Financing Activities  
Net proceeds from issuance of common stock 2,198 2,118 1,670 
Common stock repurchases(10,240)(10,090)(9,689)
Repayment of subordinated debt— (15,000)— 
Cash dividends paid on common stock
(23,512)(21,081)(19,842)
Net cash used in financing activities(31,554)(44,053)(27,861)
Net increase (decrease) in cash, cash equivalents and restricted cash5,737 (1,020)4,798 
Cash, cash equivalents and restricted cash at beginning of year34,339 35,359 30,561 
Cash, cash equivalents and restricted cash at end of year$40,076 $34,339 $35,359