v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 6,794 $ 5,395
Adjustments to reconcile net income to net cash (used by) provided by operating activities:    
Provision for credit losses 3,600 3,000
Accretion of certain acquisition-related discounts, net (54) (108)
Share-based compensation 514 461
Depreciation and amortization 940 988
(Accretion of discounts) and amortization of premiums on securities, net (162) 20
Deferred income taxes (4)  
Reversal of provision for indemnifications (35) (25)
Income from bank-owned life insurance (81) (106)
Pension expense 154 183
Proceeds from sales of loans held for sale 164,123 108,010
Origination of loans held for sale (180,601) (112,972)
Gains on sales of loans held for sale (2,545) (1,847)
Other gains, net (42) 141
Change in other assets and liabilities:    
Accrued interest receivable (26) (6)
Other assets 626 1,727
Accrued interest payable 897 (472)
Other liabilities (1,670) (1,178)
Net cash (used by) provided by operating activities (7,572) 3,211
Investing activities:    
Proceeds from sales, maturities and calls of securities available for sale and payments on mortgage-backed securities 14,590 17,176
Purchases of securities available for sale (28,782) (24,248)
Purchases of time deposits, net (991) (5)
Repayments on loans held for investment by non-bank affiliates 44,182 40,593
Purchases of loans held for investment by non-bank affiliates (43,953) (39,209)
Net increase in community banking loans held for investment (21,941) (27,487)
Purchases of corporate premises and equipment (322) (267)
Other investing activities, net 1,634 (92)
Net cash used in investing activities (35,583) (33,539)
Financing activities:    
Net increase (decrease) in demand, savings and money market deposits 26,796 36,556
Net increase in time deposits 26,937 9,238
Net decrease in repurchase agreements and borrowings (10,000) (3,085)
Repurchases of common stock (614) (426)
Cash dividends paid (1,560) (1,488)
Other financing activities, net (109) (95)
Net cash provided by financing activities 41,450 40,700
Net (decrease) increase in cash and cash equivalents (1,705) 10,372
Cash and cash equivalents at beginning of period 79,132 65,586
Cash and cash equivalents at end of period 77,427 75,958
Supplemental cash flow disclosures:    
Interest paid 10,531 11,441
Income taxes paid   13
Supplemental disclosure of noncash investing and financing activities:    
Liabilities assumed to acquire right of use assets at lease commencement 134 $ 190
Transfers from loans held for sale to loans held for investment $ 2,104