v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 15,269 $ 11,666 $ 15,068
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for (reversal of) credit losses 335 (665) 872
Depreciation and amortization of premises and equipment 2,109 2,230 2,219
Net amortization (accretion) of purchase accounting adjustments 7 (39) 95
Amortization of core deposit intangible 375 375 375
Net amortization of premiums and discounts on securities and mortgage loans 1,001 1,187 1,267
Net amortization of deferred costs on mortgage loans 394 490 497
Net amortization of premiums on subordinated debt 39 39 39
Share-based compensation expense 1,084 1,469 1,417
ESOP expense 705 572 562
Gain on mortgage banking activities (11) (235)
Net change in unrealized (gain) loss on marketable equity securities (35) (13) 1
Loss on disposal of premises and equipment 6 3
Gain on bank-owned life insurance death benefit (778)
Deferred income tax (benefit) provision (1,002) 178 191
Income from bank-owned life insurance (1,963) (1,911) (1,820)
Net change in:      
Accrued interest receivable (315) 60 (388)
Other assets 345 133 (968)
Other liabilities (124) (3,372) (3,879)
Net cash provided by operating activities 18,213 12,170 14,773
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of securities held-to-maturity (1,100) (7,701)
Proceeds from calls, maturities, and principal collections of securities held-to-maturity 15,879 19,022 14,090
Purchases of securities available-for-sale (31,600) (32,771)
Proceeds from calls, maturities, and principal collections of securities available-for-sale 16,259 14,804 12,047
Purchase of marketable equity securities (201) (174) (196)
Proceeds from redemption and sales of marketable equity securities 6,237
Net loan originations and principal payments (113,337) (63,475) (37,023)
Redemption (purchase) of Federal Home Loan Bank of Boston stock 459 (2,111) (355)
Proceeds from sale of portfolio residential real estate loans 20,333
Purchases of premises and equipment (1,073) (1,196) (2,902)
Proceeds from disposal of premises and equipment 74 18
Proceeds from payout on bank-owned life insurance 2,079
Net cash used in investing activities (113,614) (46,594) (13,706)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase (decrease) in deposits 98,261 118,903 (85,699)
Increase (decrease) in short-term borrowings 7,880 (10,710) (25,250)
Repayment of long-term debt (25,000) (120,646) (532)
Proceeds from long-term debt 98,000 120,000
Cash dividends paid (5,712) (5,914) (6,066)
Repurchase of common stock (6,097) (7,599) (5,022)
Net cash provided by (used in) financing activities 69,332 72,034 (2,569)
NET CHANGE IN CASH AND CASH EQUIVALENTS: (26,069) 37,610 (1,502)
Beginning of year 66,450 28,840 30,342
End of year 40,381 66,450 28,840
Supplemental cash flow information:      
Available-for-sale securities purchases pending settlement (8,459) 8,459
Net change in cash due to broker for common stock repurchased $ 79 $ 163