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 $ 11,893 $ 10,662
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Provision for credit losses 1,942 762
Deferred income tax expense (benefit) 1,287 (209)
Amortization of servicing assets 1,513 1,996
Amortization of low income housing partnerships 1,062 1,035
Accretion of net discounts on loans (724) (1,275)
Depreciation and amortization of premises and equipment 741 699
Amortization of net premiums on securities 4 52
Gains on sale of loans (3,460) (4,028)
Stock-based compensation 313 636
Earnings on company owned life insurance (347) (333)
Net change in fair value of equity investment with readily determinable fair value (64) 50
Origination of loans held-for-sale (73,911) (63,660)
Proceeds from sales of loans held-for-sale 60,685 61,700
Net change in:    
Accrued interest receivable and other assets (2,402) 6,433
Accrued interest payable and other liabilities 129 (1,908)
Net cash (used in) provided by operating activities (1,339) 12,612
Cash flows from investing activities    
Net change in loans receivable (114,456) (103,315)
Proceeds from matured, called, or paid-down AFS debt securities 14,118 12,048
Purchase of available-for-sale debt securities 0 (19,082)
Purchase of Federal Home Loan Bank stock (540) (87)
Purchase of premises and equipment, net (2,144) (167)
Investments in low-income housing partnerships (2,607) (2,556)
Net cash used in investing activities (105,629) (113,159)
Cash flows from financing activities    
Net change in deposits 227,443 133,263
Cash received from stock option exercises 0 160
Proceeds from FHLB advances 50,000 40,000
Repayment of FHLB advances (95,000) (30,000)
Repurchase of common stock (713) (2,691)
Cash dividend paid on common stock (3,560) (3,588)
Payments related to tax-withholding for vested restricted stock awards (757) (137)
Net cash provided by financing activities 177,413 137,007
Net change in cash and cash equivalents 70,445 36,460
Cash and cash equivalents at beginning of period 134,943 91,216
Cash and cash equivalents at end of period 205,388 127,676
Cash paid during the period for:    
Income taxes 3,496 5,495
Interest 35,733 32,221
Supplemental noncash disclosure:    
Initial recognition of right-of-use assets 3,536 871
New commitments to low income housing partnership investment 5,000 0
Transfer of loan to OREO $ 0 $ 1,077