v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net (loss) income $ (3,289) $ 11,484
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 2,556 2,551
Credit loss expense - loans 21,748 2,103
Credit loss reversal - off-balance sheet credit exposures (305) (324)
Deferred income tax benefit (2,761) (543)
Net loss on sale of securities available for sale 837 4,234
Net recognized gains on equity securities   (2,597)
Gain on sale of loans (285) (599)
Net write down on premises and equipment no longer in use 567  
Gain on sale of other real estate owned   (43)
Net amortization of securities (398) (7)
Proceeds from sale of loans 11,818 17,889
Loans originated for sale (11,083) (18,140)
Amortization of right of use assets 445 452
Amortization of subordinated debt issuance costs 136 137
Increase in cash surrender value of bank-owned life insurance (1,134) (927)
Increase in income tax receivable (1,819)  
Net change in accrued interest receivable 360 (276)
ESOP expense 1,076  
Issuance of common shares donated to the Avidia Bank Charitable Foundation [1] 9,000  
Other, net 902 7,828
Net cash provided by operating activities 28,371 23,222
Securities available for sale    
Maturities, principal payments, calls and sales 61,622 92,483
Purchases (53,664) (110,408)
Securities held to maturity    
Maturities, principal payments, and calls 3,747  
Purchases   (1,000)
Equity securities    
Sales   18,470
Purchases   (3,098)
Redemption of Federal Home Loan Bank stock 8,328 12,123
Purchases of Federal Home Loan Bank stock (5,400) (10,029)
Loan originations, net of principal payments (121,958) (67,123)
Purchases of bank owned life insurance   (21)
Proceeds from sale of premises and equipment 33  
Purchases of premises and equipment (4,286) (2,773)
Proceeds from sale of other real estate owned   282
Net cash used by investing activities (111,578) (71,094)
Cash flows from financing activities:    
Net change in deposits 61,451 115,973
Net proceeds from stock offering and issuance of common shares 185,827 0
Purchase of common shares by the ESOP (16,061) 0
Proceeds from issuance of long-term Federal Home Loan Bank advances 0 65,000
Net change in short-term Federal Home Loan Bank advances (65,000) (36,000)
Repayment of long-term Federal Home Loan Bank advances 0 (105,000)
Net cash provided by financing activities 166,217 39,973
Net change in cash and cash equivalents 83,010 (7,899)
Cash and due from banks at beginning of year 62,444 70,343
Cash and due from banks at end of year 145,454 62,444
Supplementary cash flow information:    
Interest paid on deposits and borrowed funds 44,234 50,554
Income taxes paid, net of refunds 2,631 3,841
Noncash transactions    
Lease liabilities arising from obtaining right-of-use assets $ 0 $ 278
[1] Represents a non-cash common stock donation of 900 thousand shares at a fair value of $9.0 million to the Avidia Bank Charitable Foundation. The donation is included in charitable contribution expense as a non-interest expense in the consolidated statements of operations for the year ended December 31, 2025.