v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net Income $ 29,617,000 $ 28,619,000 $ 29,776,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 6,850,000 1,196,000 2,775,000
Provision for Other Real Estate Owned (OREO) losses 0 50,000 0
Change in deferred loan origination costs/fees, net (590,000) (250,000) (318,000)
Stock-based compensation expense 343,000 502,000 322,000
Depreciation of premises and equipment and amortization of intangibles 2,835,000 1,496,000 1,667,000
Amortization of investment security premiums 718,000 831,000 1,268,000
Accretion of discounts on investments (1,928,000) (1,195,000) (761,000)
Net loss on sale of investment securities 5,811,000 19,817,000 0
Accretion of premium on time deposits (655,000) 0 0
Amortization of discount on subordinated debentures 142,000 0 0
Accretion of discount on loans (1,100,000) 0 0
Gain on sale of loans held for sale 0 (37,000) (234,000)
Loans originated for sale 0 (1,230,000) (1,736,000)
Proceeds from loan sales 0 757,000 5,739,000
Net gain on sale of OREO 0 (5,000) (39,000)
Net loss on sale of other vehicles owned 47,000 131,000 28,000
Earnings on bank owned life insurance policies (741,000) (409,000) (417,000)
Gain on sale of buildings (5,540,000) (19,854,000) 0
Deferred Income Tax Expense (Benefit) 2,269,000 (54,000) (702,000)
Purchase of green-energy transferable tax credit (9,300,000) 0 0
(Increase) decrease in accrued interest receivable and other assets (5,285,000) 1,690,000 335,000
(Decrease) increase in accrued interest payable and other liabilities (1,906,000) (1,546,000) 635,000
Net cash provided by operating activities 21,587,000 30,509,000 38,338,000
Cash flows from investing activities:      
Proceeds from matured and called available-for-sale investment securities 1,310,000 8,950,000 4,565,000
Proceeds from sale of available-for-sale securities 130,635,000 116,285,000 0
Purchases of available-for-sale investment securities (122,866,000) (120,812,000) (73,111,000)
Proceeds from principal repayments from available-for-sale government-guaranteed mortgage-backed securities 56,077,000 37,959,000 31,656,000
Net increase in loans (33,574,000) (58,264,000) (49,764,000)
Cash acquired in acquisition, net of consideration paid 35,777,000 0 0
Proceeds from sale of vehicles 305,000 763,000 484,000
Proceeds from sale of other real estate 22,000 362,000 122,000
Purchases of Federal Home Loan Bank stock 0 0 (2,540,000)
Purchase of Federal Reserve Bank stock (1,407,000) (9,000) (8,000)
Proceeds from bank owned life insurance 0 0 322,000
Proceeds from sale of buildings 5,350,000 25,690,000 0
Purchases of premises and equipment (1,311,000) (678,000) (2,278,000)
Net cash provided by (used in) investing activities 70,318,000 10,246,000 (90,552,000)
Cash flows from financing activities:      
Net (decrease) increase in demand, interest-bearing and savings deposits (122,680,000) 34,909,000 (166,620,000)
Net (decrease) increase in time deposits (19,044,000) 2,537,000 42,466,000
Net increase (decrease) in securities sold under agreements to repurchase 75,782,000 (981,000) 4,430,000
Cash dividends paid on common stock (7,720,000) (6,365,000) (5,862,000)
Repayments on other borrowings (20,750,000) (185,000,000) 0
Redemption of Trust Preferred Securities 0 0 (10,310,000)
Increase in other borrowings 0 110,000,000 90,000,000
Proceeds from exercise of stock options 1,105,000 508,000 339,000
Net cash used in provided by financing activities (93,307,000) (44,392,000) (45,557,000)
Decrease in cash and cash equivalents (1,402,000) (3,637,000) (97,771,000)
Cash and cash equivalents at beginning of year 82,018,000 85,655,000 183,426,000
Cash and cash equivalents at end of year 80,616,000 82,018,000 85,655,000
Supplemental disclosure of cash flow information:      
Interest expense 14,293,000 8,574,000 3,628,000
Income taxes 8,595,000 9,655,000 12,261,000
Supplemental noncash disclosures:      
Real estate and vehicles acquired through foreclosure/repossession 404,000 867,000 1,072,000
Lease liabilities arising from obtaining right-of-use assets 4,986,000 22,588,000 382,000
Common stock retired in connection with the exercise of stock options 86,000 78,000 154,000
Assets acquired in acquisition plus goodwill recognized 678,061,000 0 0
Liabilities assumed in acquisition 616,745,000 0 0
Common stock issued in acquisition $ 45,177,000 $ 0 $ 0