v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income $ 21,645 $ 15,821
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense (benefit) 0 0
Net amortization and accretion 1,477 1,542
Stock-based compensation 1,359 1,286
Increase in cash value of bank-owned life insurance (621) (577)
Depreciation 2,332 2,231
Provision for deferred income taxes 159 994
Change in assets and liabilities:    
Decrease in accrued interest receivable 722 196
Decrease in other assets 1,082 2,435
Decrease in accrued expenses and other liabilities (904) (652)
Net cash provided by operating activities 27,251 23,276
Cash Flows from Investing Activities:    
Proceeds from principal paydowns, maturities and calls of securities available for sale 20,416 19,954
Purchases of Federal Home Loan Bank stock (213) (234)
Proceeds from redemption of Federal Home Loan Bank stock 212 52
Net decrease in loans 51,581 38,610
Purchases of premises and equipment (790) (2,256)
Net cash used in investing activities 71,206 56,126
Cash Flows from Financing Activities:    
Net increase (decrease) in deposits (123,570) 34,397
Principal payments on long-term debt (2,500) (2,500)
Common stock dividends paid (8,496) (8,444)
Restricted stock units withheld for payroll taxes (1,278) (1,132)
Net cash provided by (used in) financing activities (135,844) 22,321
Net increase (decrease) in cash and cash equivalents (37,387) 101,723
Cash and Cash Equivalents    
Beginning 471,086 243,478
Ending 433,699 345,201
Supplemental Disclosures of Cash Flow Information:    
Cash payments for interest 45,917 52,524
Cash payments for income taxes $ 5,240 $ 650