v3.26.1
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 $ 19,205 $ 13,955 $ 11,843
Adjustments to reconcile net income to net cash provided in operating activities      
Depreciation 1,713 1,706 1,760
Net premium amortization AFS (2,902) (3,136) (2,507)
Net premium amortization HTM (698) (626) (575)
Provision for credit losses 770 809 1,129
Write-downs of other real estate owned 125 79 44
Gain on sale of other real estate owned (127) [1] [1] (151)
Originations of HFS loans (115,479) (79,376) (50,253)
Sales of HFS loans 117,659 76,497 49,004
Gain on sale of HFS loans (3,255) (2,350) (1,405)
Amortization of intangibles 158 158 158
Loss on sale of securities 1,249
Loss on fair value of equity investments (2) (20) (19)
Accretion on acquired loans (81)
Loss on sale of other assets 5
Stock-based compensation 1,164 753 794
Decrease (increase) in other assets 1,483 1,302 (1,628)
(Decrease) increase in other liabilities (1,125) 1,868 3,658
Net cash provided by operating activities 18,689 11,624 13,020
Cash flows from investing activities:      
Proceeds from sale of securities available-for-sale 38,662
Purchase of investment securities available-for-sale (42,539) (17,733) (6,025)
(Purchase) sale of other investment securities (303) 1,766 (2,589)
Maturity/call of investment securities available-for-sale 38,259 27,628 21,891
Maturity/call of investment securities held-to-maturity 14,999 8,391 12,074
Increase in loans (90,528) (86,588) (153,029)
Proceeds from sale of other real estate owned 377 419
Purchase of property and equipment (1,110) (1,097) (1,071)
Net disposal of property and equipment 30
Net cash used by investing activities (80,815) (67,633) (89,668)
Cash flows from financing activities:      
Increase in deposit accounts 73,643 164,900 125,619
Decrease in federal funds borrowed (22,000)
Advances from the Federal Home Loan Bank 289,000
Repayment of advances from the Federal Home Loan Bank (90,000) (249,000)
Increase (decrease) in securities sold under agreements to repurchase 4,079 40,247 (5,880)
Proceeds from dividend reinvestment plan 386 410 438
Dividends paid on common stock (4,750) (4,415) (4,235)
Net cash provided by financing activities 73,358 111,142 133,942
Net increase in cash and cash equivalents 11,232 55,133 57,294
Cash and cash equivalents at beginning of year 149,828 94,695 37,401
Cash and cash equivalents at end of year 161,060 149,828 94,695
Supplemental disclosure:      
Cash paid during the period for: interest 33,783 33,235 20,750
Income Taxes 5,504 3,761 3,574
Non-cash investing and financing activities:      
Unrealized gain on securities available-for-sale, net of tax 7,300 1,370 2,871
Adoption of ASU 2016-13 (CECL transition) 337
Transfer of loans to other real estate owned 44
Recognition of operating lease right of use asset 835
Recognition of operating lease liability 835
Termination of operating lease right of use asset 476
Termination of operating lease liability $ 510
[1] Not within the scope of ASC 606