v3.25.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 25,135 $ 16,953
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense (benefit) 0 0
Net amortization and accretion 2,312 2,422
Stock-based compensation 1,986 1,850
Increase in cash value of bank-owned life insurance (885) (839)
Depreciation 3,372 2,564
Provision for deferred income taxes 875 1,904
Change in assets and liabilities:    
Increase in accrued interest receivable (541) (261)
Decrease in other assets 1,055 334
Increase in accrued expenses and other liabilities 1,377 4,129
Net cash provided by operating activities 34,686 29,056
Cash Flows from Investing Activities:    
Proceeds from principal paydowns, maturities and calls of securities available for sale 30,319 37,736
Purchases of Federal Home Loan Bank stock (264) (57,683)
Proceeds from redemption of Federal Home Loan Bank stock 203 63,445
Net increase in loans (3,945) (93,609)
Purchases of premises and equipment (2,905) (23,568)
Net cash used in investing activities 23,408 (73,679)
Cash Flows from Financing Activities:    
Net increase (decrease) in deposits (51,079) 304,774
Net decrease in federal funds purchased and other short-term borrowings 0 (150,270)
Principal payments on long-term debt (3,750) (3,750)
Common stock dividends paid (12,679) (12,598)
Restricted stock units withheld for payroll taxes (1,132) (1,087)
Net cash provided by (used in) financing activities (68,640) 137,069
Net increase (decrease) in cash and cash equivalents (10,546) 92,446
Cash and Cash Equivalents    
Beginning 243,478 65,357
Ending 232,932 157,803
Supplemental Disclosures of Cash Flow Information:    
Cash payments for interest 77,326 84,704
Cash payments for income taxes $ 2,670 $ 930