v3.26.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 13,069 $ 11,484
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for (release of) credit losses on loans and unfunded commitments 311 (391)
Depreciation expense 1,257 1,140
Net amortization of investment securities, premiums, and discounts 125 208
Provision for valuation allowance for premises and equipment held for sale 278 0
Investment securities (gains) losses, net (285) 3
Gain on sales and dispositions of premises and equipment (1,390) (48)
Gain on sales and dispositions of other real estate (302) (28)
Provision for valuation allowance for other real estate owned 0 184
Share-based compensation expense 274 177
Increase in cash surrender value - life insurance (596) (765)
Decrease (increase) in accrued interest receivable and other assets 732 (384)
Decrease in operating lease liabilities (240) (138)
Increase in accrued interest payable and other liabilities 5,068 49
Origination of mortgage loans held for sale (18,066) (2,661)
Proceeds from the sale of mortgage loans held for sale 18,060 2,903
Gain on sale of mortgage loans, net (146) (242)
Net cash provided by operating activities 18,149 11,491
Cash flows from investing activities:    
Net decrease in loans 72,217 3,229
Purchase of available-for-sale debt securities (36,470) (13,332)
Proceeds from maturities, calls, and paydowns of available-for-sale debt securities 11,870 11,378
Purchases of FHLB stock (48,852) (9,657)
Proceeds from sales of FHLB stock 52,139 7,147
Purchases of premises and equipment (2,508) (924)
Proceeds from sales of premises and equipment 1,895 49
Proceeds from sales of other real estate and repossessed assets 65 1,418
Net cash provided by (used in) investing activities 50,356 (692)
Cash flows from financing activities:    
Net increase (decrease) in demand deposits (7,179) 34,892
Net decrease in interest bearing transaction accounts (51,277) (58,123)
Net increase (decrease) in time deposits (7,504) 8,035
Repayment of FHLB advances and other borrowings (1,154,764) (170,100)
Proceeds from FHLB advances and other borrowings 1,082,040 228,675
Decrease in finance lease liabilities (75) 0
Proceeds from financing obligation 1,908 0
Repayment of financing obligation (3) 0
Purchase of treasury stock (396) (2,222)
Cash dividends paid - common stock (2,832) (2,656)
Net cash provided by (used in) financing activities (140,082) 38,501
Net (decrease) increase in cash and cash equivalents (71,577) 49,300
Cash and cash equivalents, beginning of period 104,312 50,994
Cash and cash equivalents, end of period 32,735 100,294
Cash paid during the period for:    
Interest 14,471 16,041
Income taxes 3,206 597
Non-cash investing and financing activities:    
Other real estate and repossessed assets acquired in settlement of loans 2,609 0
Loans held for investment originated through other real estate and repossessed assets sold 2,099 0
Loans And Leases Receivable Originated Through Sale Of Premises and Equipment 1,875 0
Right of use assets obtained in exchange for new operating lease liabilities 1,122 1,351
Dividends declared not paid - common stock $ 1,448 $ 1,389