v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net income $ 29,017 $ 25,102
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities:    
Depreciation and amortization of premises and equipment 1,680 1,780
Depreciation of debt issuance costs 70 0
Amortization of investment security premium, net of discount accretion (251) 55
Unrealized (gain) loss on marketable equity securities 92 (28)
Deferred tax expense 1,729 0
Stock-based compensation 704 559
Deferred loan fees and amortization, net of costs (252) 671
Provision for credit losses 2,587 567
Additions to home mortgage servicing rights carried at fair value (2,056) (2,740)
Change in fair value of home mortgage servicing rights carried at fair value 1,055 1,673
Change in fair value of commercial servicing rights carried at fair value 161 193
Change in fair value of loans held for sale (487) (60)
Gain on sale of loans (8,405) (6,671)
Proceeds from the sale of loans held for sale 410,668 336,860
Origination of loans held for sale (362,522) (358,179)
Net changes in assets and liabilities:    
Increase in accrued interest receivable (1,968) (1,072)
Decrease in other assets 4,530 12,297
(Decrease) increase in other liabilities (9,054) 1,117
Net Cash Provided by Operating Activities 67,298 12,124
Investment in securities:    
Purchases of investment securities available for sale (127,337) (24,691)
Purchases of marketable equity securities (3,016) 0
Purchases of FHLB stock (777) (21,588)
Purchases of investment securities held to maturity (15,000) 0
Proceeds from calls/maturities of securities available for sale 135,455 80,433
Proceeds from calls/maturities of securities held to maturity 10,000 0
Proceeds from redemption of FHLB stock 354 18,576
Increase in purchased receivables, net (21,771) (35,081)
Increase in loans, net (114,326) (112,738)
Sallyport Commercial Finance, LLC acquisition, net of cash received 0 144
Purchases of premises and equipment (3,474) (524)
Net Cash (Used) by Investing Activities (139,892) (95,469)
Financing Activities:    
Increase in deposits 105,759 128,981
(Decrease) increase in borrowings (224) 39,981
Proceeds from the issuance of common stock 483 (1)
Cash dividends paid (7,117) (7,069)
Net Cash Provided by Financing Activities 98,901 161,892
Net Change in Cash and Cash Equivalents 26,307 78,547
Cash and Cash Equivalents at Beginning of Period 145,906 62,736
Cash and Cash Equivalents at End of Period 172,213 141,283
Supplemental Information:    
Income taxes paid 4,947 5,020
Interest paid 20,185 21,590
Transfer of loans to other real estate owned 1,224 0
Non-cash lease liability arising from obtaining right of use assets 6,325 0
Cash dividends declared but not paid $ 81 $ 89