v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows From Operating Activities    
Net income (loss) $ 836 $ (434)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 368 378
Deferred income tax expense (51) 1,417
Recovery of credit losses - loans (600) 0
Accretion of fair value adjustments on acquired loans, time deposits, and subordinated notes (178) (426)
Proceeds from sale of mortgage loans held for sale 0 22,849
Mortgage loans held for sale, originated 0 (22,350)
Gain on sale of mortgage loans 0 (508)
Fair value adjustments of other equity investments (66) 73
Loss on disposal of premises and equipment, other assets, and other real estate owned 1 200
Investment amortization expense, net 6 49
Intangible amortization 202 244
Increase in accrued interest receivable (347) (163)
Decrease in other assets 16,055 7,770
Decrease in other liabilities (1,191) (12,687)
Cash provided by (used in) operating activities 15,035 (3,588)
Cash Flows From Investing Activities    
Purchases of securities available for sale (11,087) (12,388)
Proceeds from calls, sales, paydowns, and maturities of securities available for sale 12,049 4,196
Net decrease (increase) in federal funds sold 400 (887)
Capital calls on other investments (200) (892)
Net decrease in loans held for investment 32,323 52,556
Proceeds from surrender of bank owned life insurance policies 0 212
Net change in restricted equity and other investments 601 457
Purchase of premises and equipment (457) (25)
Other investment activities 224 25
Cash provided by investing activities 33,853 43,254
Cash Flows From Financing Activities:    
Net (decrease) increase in demand, savings, and other interest-bearing deposits (18,469) 36,773
Net increase (decrease) in non-brokered time deposits 31,910 (23,285)
Net decrease in brokered time deposits (31,530) (63,418)
Common stock dividends paid on vested performance-based restricted stock awards ("PSAs") (140) 0
Warrants exercised 0 6,905
Cash used in financing activities (18,229) (43,025)
Net increase (decrease) in cash and due from banks 30,659 (3,359)
Cash and due from banks at beginning of period 115,949 175,992
Cash and due from banks at end of period 146,608 172,633
Supplemental Schedule of Cash Flow Information    
Interest 13,489 18,265
Income taxes 0 1,000
Non-cash investing and financing activities:    
Unrealized (loss) gains on securities available for sale (232) 5,223
Restricted stock award grants and related compensation expense 272 275
Restricted stock award forfeitures and cancellations $ (37) $ (51)