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 (loss) $ 17,756 $ (3,660)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
(Reversal of) provision for credit losses on loans (320) 75
Noncash contribution expense to employee stock ownership plan 373 846
Noncash director compensation expense 215 255
Stock-based compensation expense 661 363
Amortization of core deposit intangible 396 447
Amortization of investment security premiums, net of accretion of discounts (185) 559
Accretion of discounts on acquired loans, net 21 (82)
Amortization of discount on subordinated notes 98 0
Net change in deferred loan origination costs/fees 220 (64)
Write-down of other real estate owned 0 0
Change in FMV of hedged loans and related interest rate swaps (1) 0
Loss on sale of investment securities 0 18,736
Depreciation and amortization 533 642
Loss on disposal of premises and equipment 0 1
Earnings on bank-owned life insurance policies (929) (905)
Earnings on bank-owned life insurance death benefits (538) (306)
Net changes in:    
Net changes in interest receivable and other assets (1,940) (1,396)
Net changes in interest payable and other liabilities (3,101) (2,535)
Total adjustments (4,497) 16,636
Net cash provided by operating activities 13,259 12,976
Cash Flows from Investing Activities:    
Purchase of available-for-sale securities (65,196) (252,714)
Proceeds from sale of available-for-sale securities 0 167,017
Proceeds from paydowns/maturities of held-to-maturity securities 0 56,140
Proceeds from paydowns/maturities of available-for-sale securities 137,883 83,939
Proceeds from sale of loan 9,067 1,295
Decrease in loans receivable, net 12,274 7,767
Proceeds from bank-owned life insurance policies 1,449 1,805
Purchase of premises and equipment (490) (1,281)
Net cash provided by investing activities 94,987 63,968
Cash Flows from Financing Activities:    
Net (decrease) increase in deposits (45,642) 25,033
Repayment of finance lease obligations (84) (77)
Proceeds from stock options exercised 30 0
Restricted stock surrendered for tax withholdings upon vesting (156) (104)
Cash dividends paid on common stock (8,076) (8,079)
Stock repurchased 0 (2,175)
Proceeds from stock issued under employee and director stock purchase plans 18 17
Net cash (used for) provided by financing activities (53,910) 14,615
Net increase in cash, cash equivalents and restricted cash 54,336 91,559
Cash, cash equivalents and restricted cash at beginning of period 225,303 137,304
Cash, cash equivalents and restricted cash at end of period 279,639 228,863
Supplemental disclosure of cash flow information:    
Interest paid on deposits and borrowings 24,861 22,053
Income taxes paid, net of refunds (318) 2,930
Supplemental disclosure of noncash investing and financing activities:    
Change in net unrealized gains or losses on available-for-sale securities (12,480) 2,803
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity $ 0 $ 705