v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 12,006 $ 10,336
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 290 251
Amortization of premiums on securities 39 59
Gain on sales of loans held for sale (375) (93)
Stock-based compensation expense 659 652
Gain on sale of premises and equipment (17) 0
Cash receipts from the sale of loans originated for sale 20,251 5,220
Cash disbursements for loans originated for sale (21,663) (7,195)
Deferred income tax expense 497 79
Changes in    
Interest receivable and other assets 2,911 303
Interest payable and other liabilities 2,051 1,386
Net cash provided by operating activities 16,649 10,998
Investing Activities    
Net cash paid for acquisition 0 (2,750)
Maturities of interest-bearing time deposits in other banks 6,722 1,984
Purchases of interest-bearing time deposits in other banks 0 (8,212)
Maturities, prepayments and calls of available-for-sale debt securities 1,644 1,145
Purchases of available-for-sale debt securities 0 (40)
Net change in loans 12,647 (26,603)
Purchases of premises and equipment (2,490) (2,803)
Proceeds from sale of premises and equipment 22 0
Proceeds from sale of nonmarketable equity securities 7 5
Net cash provided by (used in) investing activities 18,552 (37,274)
Financing Activities    
Net change in deposits (29,452) 35,819
Cash dividends paid (2,555) (2,254)
Shares purchased and retired for restricted stock units (1,175) (1,015)
Net settlement of stock options 47 100
Net cash (used in) provided by financing activities (33,135) 32,650
Net Increase in Cash and Due from Banks 2,066 6,374
Cash and Due from Banks, Beginning of Period 244,635 234,196
Cash and Due from Banks, End of Period 246,701 240,570
Supplemental Disclosure of Cash Flows Information    
Interest paid 9,555 9,749
Income taxes paid 0 0
Dividends declared and not paid $ 2,570 $ 2,268