v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 1,136 $ 10,956
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,982 3,846
Increase in cash surrender value of bank-owned life insurance (567) (540)
Provision for credit losses 25,541 6,479
Share-based compensation expense 243 901
Loans originated for sale (261,753) (200,500)
Proceeds from sale of loans 197,554 214,291
Gain on loans sold (10,320) (14,828)
Gain on sale of other real estate owned (19) (31)
(Loss) gain on derivatives (146) 1,803
Gain on bank-owned life insurance 0 (149)
Loan servicing asset revaluation 2,334 1,263
Net change in accrued income and other assets (7,898) (3,370)
Net change in accrued expenses and other liabilities (6,434) (1,305)
Net cash (used in) provided by operating activities (57,347) 18,816
Investing Activities    
Net loan activity, excluding purchases (199,820) (57,851)
Proceeds from sale of other real estate owned 291 406
Maturities and calls of securities available-for-sale 65,376 33,701
Purchase of securities available-for-sale (115,680) (50,947)
Maturities and calls of securities held-to-maturity 12,109 11,418
Purchase of securities held-to-maturity (33,629) (53,977)
Purchase of premises and equipment (834) (1,496)
Proceeds from bank-owned life insurance 0 737
Loans purchased (17,795) (64,944)
Other investing activities (6,516) (10,438)
Net cash used in investing activities (296,498) (193,391)
Financing Activities    
Net increase in deposits 365,583 206,949
Cash dividends paid (1,054) (1,049)
Repurchase of common stock 0 (283)
Proceeds from advances from Federal Home Loan Bank 104,500 320,000
Repayment of advances from Federal Home Loan Bank (135,000) (360,000)
Other, net (233) (154)
Net cash provided by financing activities 333,796 165,463
Net Decrease in Cash and Cash Equivalents (20,049) (9,112)
Cash and Cash Equivalents, Beginning of Period 466,410 405,898
Cash and Cash Equivalents, End of Period 446,361 396,786
Supplemental Disclosures    
Cash paid during the period for interest 105,510 97,494
Cash paid during the period for taxes 238 378
Loans transferred to other real estate owned 1,730 0
Cash dividends declared, paid in subsequent period $ 523 $ 520