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 $ 13,099 $ 8,900
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred loan costs, fees and purchased premiums and discounts 1,395 1,385
Net amortization of premiums and discounts on securities (887) (915)
Net amortization of mortgage servicing rights 54 51
Amortization of intangible assets 567 521
Depreciation and amortization of office properties and equipment 2,268 2,082
Amortization of operating lease right-of-use assets 1,055 993
Provision for credit losses 956 2,933
Change in fair value of equity securities 1,164 (308)
Gain on sale of loans, net (20) (515)
Gain on disposal of office properties and equipment, net 0 (18)
(Increase) in accrued interest receivable (315) (1,519)
(Increase) decrease in other assets (6,441) 1,351
(Decrease) in accrued expenses and other liabilities (9,549) (16,539)
Income on bank-owned life insurance (2,173) (1,859)
Employee stock ownership plan expense 960 869
Stock based compensation 1,034 1,130
(Increase) in deferred compensation obligations under Rabbi Trust (26) (124)
Net cash provided by (used in) operating activities 3,141 (1,582)
Cash flows from investing activities:    
Proceeds from paydowns/maturities/calls of debt securities available for sale 57,106 29,836
Proceeds from paydowns/maturities/calls of debt securities held to maturity 18,695 12,113
Purchases of debt securities available for sale (138,217) (64,827)
Purchases of debt securities held to maturity 0 (19,857)
Proceeds from sales of loans held-for-sale 2,270 12,633
Purchases of loans receivable 0 (20,000)
Net decrease (increase) in loans receivable 23,368 (104,791)
Proceeds from redemptions of Federal Home Loan Bank stock 4,463 6,129
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock (22,724) (7,370)
Proceeds from sales of office properties and equipment 0 18
Additions to office properties and equipment (1,866) (2,902)
Net cash (used in) investing activities (56,905) (159,018)
Cash flows from financing activities:    
Net (decrease) increase in deposits (72,065) 98,786
Proceeds from long-term borrowings 40,000 20,000
Payments on long-term borrowings (15,000) (60,000)
Net increase in short-term borrowings 34,990 66,988
Increase in advance payments by borrowers for taxes and insurance 2,117 1,822
Exercise of stock options (34) 0
Repurchase of shares for taxes (103) (130)
Net cash (used in) provided by financing activities (10,095) 127,466
Net (decrease) in cash and cash equivalents (63,859) (33,134)
Cash and cash equivalents at beginning of year 340,806 289,223
Cash and cash equivalents at end of period 276,947 256,089
Cash paid during the period for:    
Interest on deposits and borrowings 58,497 62,260
Income tax payments, net of refunds 36 65
Non-cash investing and financing activities:    
Transfer of loans receivable to other real estate owned 5,923 0
Transfer of loans receivable to loans held-for-sale 2,250 12,169
Excise tax (benefit) on net stock repurchases $ (5) $ (4)