v3.25.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 14,591,000 $ 10,807,000
Adjustments reconciling net income to net cash provided by operating activities:    
Provision for credit losses 1,950,000 1,650,000
Depreciation, amortization, and accretion 3,556,000 4,230,000
Equity method investment loss (195,000) (117,000)
Stock-based compensation expense 370,000 798,000
Net change in servicing asset 289,000 (743,000)
Loss on sales of securities, available-for-sale 0 980,000
Gain on sales of SBA loans (2,585,000) (4,393,000)
Loss (gain) on sales of other real estate owned and repossessions 136,000 (174,000)
Writedown of bank building 0 197,000
Gain on sales of premises & equipment 0 (10,000)
Originations of loans held for sale (130,990,000) (140,472,000)
Proceeds from sales of loans held for sale 151,198,000 132,691,000
Change in bank-owned life insurance (841,000) (948,000)
Deferred tax expense 470,000 400,000
Change in other assets (5,846,000) 1,442,000
Change in other liabilities 1,685,000 (189,000)
Net cash provided by operating activities 33,788,000 6,149,000
Investing Activities    
Purchases of investment securities, available-for-sale (28,210,000) (23,217,000)
Proceeds from maturities, calls, and paydowns of investment securities, available-for-sale 27,129,000 34,221,000
Proceeds from sales of investment securities, available-for-sale 0 17,750,000
Proceeds from maturities, calls and paydowns of securities, held-to-maturity 21,532,000 7,150,000
Change in loans, net (153,101,000) 16,105,000
Purchase of premises and equipment (431,000) (231,000)
Proceeds from sales of premises and equipment 0 10,000
Proceeds from insurance-Branch fire 803,000 0
Proceeds from sales of other real estate owned and repossessions 540,000 870,000
Proceeds from bank-owned life insurance 0 700,000
Purchase of Federal Home Loan Bank Stock (38,000) (1,506,000)
Cash paid - Insurance acquisition (3,500,000) 0
Net cash provided by (used in) investing activities (135,276,000) 51,852,000
Financing Activities    
Change in noninterest-bearing customer deposits (27,498,000) (61,369,000)
Change in interest-bearing customer deposits 15,785,000 (23,196,000)
Dividends paid for common stock (4,022,000) (3,951,000)
Repayments on Federal Home Loan Bank advances (100,000,000) (140,000,000)
Proceeds from Federal Home Loan Bank advances 100,000,000 170,000,000
Repayments on other borrowings 0 (20,000,000)
Proceeds from other borrowings 0 20,000,000
Redemption of subordinated debt 0 (500,000)
Repurchase and retirement of shares (1,589,000) (239,000)
Tax withholding related to vesting of restricted stock (77,000) (66,000)
Net cash used in financing activities (17,401,000) (59,321,000)
Net decrease in cash and cash equivalents (118,889,000) (1,320,000)
Cash and cash equivalents at beginning of period 231,034,000 83,322,000
Cash and cash equivalents at end of period 112,145,000 82,002,000
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 28,654,000 30,019,000
Cash paid during the period for income taxes 2,020,000 2,911,000
Noncash Investing and Financing Activities    
Transfers to other real estate $ 810,000 $ 830,000