v3.26.1
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Net Income $ 22,888 $ 4,481
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 665 483
Net accretion of acquisition accounting adjustments (575) 0
Net accretion of discounts and premiums on securities (870) (290)
Bargain purchase gain (18,303) 0
Deferred income tax expense (benefit) 118 (123)
Provision for credit losses 5,192 680
Decrease (increase) in accrued interest receivable 26 (201)
(Decrease) increase in accrued interest payable (321) 362
Increase in cash surrender value of bank owned life insurance (419) (257)
Net marketable equity security (gains) losses (151) 55
Origination of loans held for sale (8,084) (4,354)
Proceeds from loans sold 8,346 4,456
Gain on sale of loans (262) (102)
(Gain) loss on disposition of premises and equipment (43) 4
Realized loss on sale of securities 8 0
(Gain) loss on sale of foreclosed real estate (34) 0
Change in other assets and liabilities, net 5,070 415
Net Cash Provided by Operating Activities 13,251 5,609
Cash Flows From Investing Activities:    
Purchases (10,957) (14,159)
Proceeds from paydowns, maturities and calls 28,045 16,006
Proceeds from sales 48,641 0
Net increase in loans (52,355) (48,465)
Decrease of interest-bearing time deposits 4,446 7,916
Increase (decrease) in restricted investments in bank stock 2,531 (1,215)
Proceeds from sale of premises and equipment 122 0
Proceeds from sale of foreclosed real estate 111 50
Purchases of premises and equipment (182) (193)
Cash acquired in the acquisition of NUBC, net of cash paid 43,357 0
Net Cash Provided By (Used in) Investing Activities 63,759 (40,060)
Cash Flows From Financing Activities:    
Increase in deposits 23,854 16,792
Proceeds from Federal Home Loan Bank advances 0 28,550
Repayment of Federal Home Loan Bank advances (57,550) (1,200)
Repayment of Federal Reserve Bank Borrowings 0 (9,500)
Decrease in Federal Funds purchased 0 (435)
Increase (decrease) in repurchase agreements 446 (88)
Dividends paid on common stock (3,929) (2,695)
Net Cash (Used In) Provided by Financing Activities (37,179) 31,424
Net increase (decrease) in cash and cash equivalents 39,831 (3,027)
Cash and Cash Equivalents, Beginning of Year 9,179 12,206
Cash and Cash Equivalents, End of Year 49,010 9,179
Supplementary Cash Flows Information    
Interest paid 14,451 9,475
Income taxes paid 1,373 945
Supplementary Disclosure of Noncash Transactions    
Other real estate acquired in settlement of loans 77 0
Increase in maximum cash obligation related to ESOP shares 2,723 113
ROU assets acquired in exchange for lease liabilities $ 1,058 $ 0