v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES:    
Net income $ 28,089 $ 19,040
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses, loans 3,083 907
(Release) Provision for credit losses, securities (2,036) 646
Net accretion of purchase premiums and discounts on securities (36) (130)
Depreciation and amortization 979 764
PPP deferred fees and costs (2) (9)
Deferred income tax benefit (719) (618)
Net realized security gains (3,497) (62)
Stock compensation expense 1,029 926
Gain on sale of mortgage loans, net (603) (586)
Gain on sale of SBA loans held for sale, net (302) (543)
BOLI income (334) (254)
Net change in other assets and liabilities (33,117) (12,768)
Net cash (used in) provided by operating activities (7,466) 7,313
INVESTING ACTIVITIES    
Purchases of equity securities (501) (2,247)
Purchases of AFS securities (10,500) (10,500)
(Purchase) redemption of FHLB stock, at cost, net (7,223) 3,478
Maturities and principal payments on HTM securities 4,893 100
Maturities and principal payments on AFS securities 10,643 2,371
Proceeds from sales on AFS securities 998  
Proceeds from sales of equity securities 6,490 221
Net decrease in SBA PPP loans 1,449 593
Net (increase) decrease in loans (123,633) 4,135
Purchases of premises and equipment (466) (215)
Net cash used in investing activities (117,850) (2,064)
FINANCING ACTIVITIES    
Net increase in deposits 87,053 86,691
Proceeds from (repayments of) short-term borrowings, net 135,400 (96,000)
Proceeds from long-term borrowings, net 21,203 14,360
(Shares withheld for taxes), net of proceeds from stock option exercises (400) 769
Dividends on common stock (2,707) (2,509)
Purchase of treasury stock, including excise tax accrual (1,938) (5,918)
Net cash provided by (used in) financing activities 238,611 (2,607)
Increase in cash and cash equivalents 113,295 2,642
Cash and cash equivalents, beginning of year 180,438 194,776
Cash and cash equivalents, end of period 293,733 197,418
SUPPLEMENTAL DISCLOSURES    
Interest paid 27,830 28,926
Income taxes paid 8,071 6,617
Noncash activities:    
Capitalization of servicing rights $ 106 $ 152