Parent Company Statements

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Parent Company Statements

(22) Parent Company Statements

CONDENSED BALANCE SHEETS
(Dollars in thousands)	December 31,
	2021		2020
ASSETS
Cash and cash equivalents	$	44,825	$	14,247
Investment in subsidiaries		524,861		286,545
Other assets		1,604		268
Total assets	$	571,290	$	301,060
LIABILITIES AND SHAREHOLDERS' EQUITY
Subordinated debt	$	64,990	$	44,580
Other liabilities		16,224		792
Shareholders' equity		490,076		255,688
Total liabilities and shareholders' equity	$	571,290	$	301,060

CONDENSED STATEMENTS OF INCOME AND    COMPREHENSIVE INCOME
(Dollars in thousands)	For Years Ended December 31,
	2021			2020			2019
Income
Dividends from subsidiaries	$	3,897		$	7,537		$	7,189
Other income		35			13			—
Total Income		3,932			7,550			7,189
Expense
Other expenses		(15,391	)		(3,715	)		(2,495	)
Total Expense		(15,391	)		(3,715	)		(2,495	)
(Loss) income before income tax and equity in undistributed earnings of subsidiaries		(11,459	)		3,835			4,694
Equity in undistributed earnings of subsidiaries		37,638			21,616			12,486
Income before income tax		26,179			25,451			17,180
Income tax benefit		3,140			758			521
Net income		29,319			26,209			17,701
Comprehensive income	$	29,534		$	25,809		$	20,422

CONDENSED STATEMENTS OF CASH FLOWS
(Dollars in thousands)	For Years Ended December 31,
	2021			2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	29,319		$	26,209		$	17,701
Equity in undistributed earnings of subsidiaries		(37,638	)		(21,616	)		(12,486	)
Other, net		5,473			582			139
Net cash (used in) provided by operating activities		(2,846	)		5,175			5,354
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash paid for acquisition		(792	)		—			—
Investment in subsidiary		(27,353	)		(10,500	)		—
Purchases of premises and equipment		—			—			(81	)
Net cash used in investing activities		(28,145	)		(10,500	)		(81	)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid		(8,872	)		(6,504	)		(6,688	)
Employee Stock Purchase Plan stock issuance		172			147			134
Director Stock Purchase Plan stock issuance		135			148			135
Proceeds from issuance of common stock		70,545			—			—
Treasury stock purchased		(128	)		(1,795	)		—
Subordinated debt issuance		—			27,150			—
Other, net		(283	)		—			—
Net cash provided by (used in) financing activities		61,569			19,146			(6,419	)
Net increase (decrease) in cash and cash equivalents		30,578			13,821			(1,146	)
Cash and cash equivalents, beginning of year		14,247			426			1,572
Cash and cash equivalents, end of year	$	44,825		$	14,247		$	426