v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net Income (Loss) $ 27,780 $ 22,593
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes, net (553) 735
Provision for credit losses 5,027 5,360
Depreciation, amortization and accretion, net 1,897 1,821
Share-based compensation 1,559 1,577
Net loss on sale of tax credit investments 545 60
Amortization of tax credit investments 3,782 3,057
Bank-owned life insurance policy income (1,514) (1,051)
Origination of loans for sale (76,589) (88,044)
Sale of loans originated for sale 96,030 90,487
Gain on sale of loans originated for sale (592) (1,360)
Net gain on repossessed assets 0 (4)
Return on investment in limited partnerships 295 834
Excess tax benefit from share-based compensation 366 229
Net payments on operating lease liabilities (805) (784)
Net (decrease) increase in accrued interest receivable and other assets (11,019) 14,494
Net decrease (increase) in accrued interest payable and other liabilities 636 (22,858)
Net cash provided by operating activities 46,845 27,146
Investing activities    
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities 39,875 26,885
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities 533 1,022
Purchases of available-for-sale securities (31,249) (60,690)
Proceeds from sale of repossessed assets 0 24
Net increase in loans and leases (215,575) (142,215)
Investments in limited partnerships (1,548) (1,472)
Returns of investments in limited partnerships 8 712
Investment in tax credit investments (9,292) (12,673)
Distributions from tax credit investments 140 26
Proceeds from sale of tax credit investments 69 2,483
Investment in Federal Home Loan Bank stock (17,123) (19,910)
Proceeds from the sale of Federal Home Loan Bank stock 12,890 21,499
Purchases of leasehold improvements and equipment, net (299) (410)
Proceeds from sale of leasehold improvements and equipment 42 0
Purchases of bank owned life insurance policies (25) (24,500)
Net cash used in investing activities (221,554) (209,219)
Financing activities    
Net increase in deposits 211,750 198,082
Repayment of Federal Home Loan Bank advances (576,328) (966,377)
Proceeds from Federal Home Loan Bank advances 671,011 922,412
Net increase in long-term borrowed funds 60 47
Cash dividends paid (5,850) (4,856)
Preferred stock dividends paid (438) (438)
Proceeds from issuance of common stock under ESPP 66 72
Purchase of treasury stock (1,689) (1,363)
Net cash provided by financing activities 298,582 147,579
Net increase (decrease) in cash and cash equivalents 123,873 (34,494)
Cash and cash equivalents at the beginning of the period 39,485 157,702
Cash and cash equivalents at the end of the period 163,358 123,208
Cash paid during the period for:    
Interest paid on deposits and borrowings 53,676 53,908
Net income taxes paid $ 3,551 $ 381