v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 3,964 $ 4,905
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,957 4,340
Depreciation and amortization 974 1,097
Amortization of right-of-use assets 1,053 544
Net gain on sale of securities available-for-sale   (4)
Stock-based compensation 886 782
Net gain on sale of loans (4,650) (5,092)
Net amortization of premiums, discounts and loan fees and costs 913 637
Amortization of intangible assets 28 32
Amortization of debt issuance costs 27 27
Loan servicing rights valuation adjustments 518 281
Payments on operating leases (1,066) (548)
Origination of loans held for sale (45,816) (4,692)
Proceeds from loans held for sale 42,597 3,005
Decrease (increase) in accrued interest receivable 184 (563)
Decrease (increase) in other assets 1,628 (3,043)
Decrease in accrued interest payable (59) (83)
Decrease in other liabilities (2,086) (1,132)
Net cash provided by operating activities 2,052 493
Cash flows from investing activities:    
Purchases of securities available-for-sale (98,156) (398,256)
Repayments (purchases) of restricted securities, net 16 (954)
Proceeds from sales of securities available-for-sale 0 868
Principal repayments of securities held to maturity 163 137
Maturities, prepayments and calls of securities available-for-sale 79,926 360,023
Proceeds from loans held for sale previously classified as portfolio loans 60,344 63,167
Net increase in loans (36,652) (115,734)
Purchases of premises and equipment (318) (1,752)
Net cash provided by (used in) investing activities 5,323 (92,501)
Cash flows from financing activities:    
Net (decrease) increase in deposits (2,999) 37,476
Repayments of term FHLB advances   (5,000)
Proceeds from Federal Reserve Bank borrowings   20,000
Repayments of Federal Reserve Bank borrowings   (20,000)
Proceeds of other short-term borrowings, net   25,000
Payments related to tax withholding for equity awards (731) (153)
Cash dividends paid (1,499) (1,477)
Proceeds from exercise of stock options, net (468) 70
Net cash (used in) provided by financing activities (5,697) 55,916
Increase (decrease) in cash and cash equivalents 1,678 (36,092)
Cash and cash equivalents, beginning of period 162,857 177,207
Cash and cash equivalents, end of period 164,535 141,115
Supplemental cash flow information:    
Interest paid 35,521 39,753
Income taxes paid 1,161 2,604
Supplemental non-cash disclosure:    
Transfers from portfolio loans to loans held-for-sale 50,664 59,099
Preferred stock issued in exchange for common stock   $ 2,078
Lease liabilities arising from obtaining right-of-use assets $ 3,606