v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 11,284 $ 8,704
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for credit losses (436) 202
Depreciation 409 397
Accretion on loans (488) (582)
Amortization of intangibles 71 71
Amortization of subordinated notes issuance costs 24 18
Stock-based compensation 1,241 990
Net amortization of investment premiums 207 235
Earnings on bank owned life insurance (192) (259)
Net change in:    
Accrued interest receivable (611) (4,322)
Other assets (846) 335
Other liabilities (434) (952)
Net cash from operating activities 10,229 4,837
Cash flows from/(used) investing activities    
Purchases of investment securities available-for-sale (1,301) (436)
Proceeds from paydowns of investment securities available-for-sale 8,308 8,793
Proceeds from maturities and calls of investment securities available-for-sale 936 1,069
Purchase of restricted investment in bank stocks   (12,263)
Proceeds from redemptions of restricted investment in bank stocks   16,454
Net increase in loans (1,246) (37,827)
Purchases of premises and equipment (563) (494)
Net cash from/(used) by investing activities 6,134 (24,704)
Cash flows from financing activities    
Net increase in deposits 39,350 128,339
Net change in FHLB advances, short term   (93,000)
Cash dividends paid (2,407) (1,475)
Purchases of treasury stock   (158)
Net cash from financing activities 36,943 33,706
Net change in cash and cash equivalents 53,306 13,839
Beginning cash and cash equivalents 204,232 150,334
Ending cash and cash equivalents 257,538 164,173
Supplemental cash flow information:    
Interest paid 7,408 $ 8,508
Income taxes paid $ 110