v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 6,229 $ 5,378
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (reversal of) credit losses (156) 268
Depreciation and amortization of premises and equipment 454 444
Stock-based compensation expense 253 301
Amortization of premiums and accretion of discounts on securities, net 3 7
Accretion of net deferred loan fees and costs (1,345) (1,246)
Increase in cash surrender value of bank-owned life insurance (507) (470)
Deferred income (benefit) tax (335) 713
Amortization of core deposit intangible 196 229
Decrease in accrued interest receivable and other assets 1,285 751
Decrease in accrued interest payable and other liabilities (870) (5,124)
NET CASH PROVIDED BY OPERATING ACTIVITIES 5,207 1,251
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of available-for-sale securities 0 (2,564)
Maturities, calls and principal repayments of securities available-for-sale 16,828 12,320
Maturities, calls and principal repayments of securities held-to-maturity 2 2
Decrease in loans, net of repayments (29,091) (67,202)
Purchase of loans 27,720 30,784
Purchases of premises and equipment (274) (200)
Purchases of restricted bank stock 0 (63)
NET CASH PROVIDED BY (USED IN) INVESTMENT ACTIVITIES 15,185 (26,923)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net (decrease) in deposits (33,534) (21,959)
Cash dividends (2,490) (2,092)
Share redemption for tax withholding on restricted stock vesting (246) (231)
Purchase of treasury stock (55) (163)
Proceeds from exercise of stock options 41 443
NET CASH USED IN BY FINANCING ACTIVITIES (36,284) (24,002)
NET DECREASE IN CASH AND CASH EQUIVALENTS (15,892) (49,674)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 135,686 117,348
CASH AND CASH EQUIVALENTS, END OF PERIOD 119,794 67,674
SUPPLEMENTARY CASH FLOWS INFORMATION:    
Interest paid 12,661 17,429
Income taxes paid 488 1,094
Increase in ROU leases $ 860 $ 0