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 $ 14,459 $ 10,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (credit) for credit losses 500 (567)
Depreciation, amortization, accretion 1,716 1,271
Deferred taxes (363) 473
Stock based compensation 302 188
Origination of mortgage servicing rights (295) (306)
Gain on sale of loans held for sale (40,452) (37,907)
Loans originated for sale (1,120,188) (976,701)
Proceeds on sales of loans originated for sale 1,154,009 988,691
Decrease in accrued interest receivable 180 243
Increase in cash surrender value of life insurance (1,684) (1,495)
(Increase) decrease in derivative assets (1,188) 3,486
Increase in accrued interest on deposits and borrowings 549 773
Increase in accrued taxes 827 1,239
Decrease (increase) in derivative liabilities 827 (2,970)
(Increase) decrease in other assets (2,751) 90
Increase in other liabilities 2,408 1,024
Net cash provided by (used in) operating activities 8,856 (11,705)
Investing activities:    
Net (increase) decrease in loans receivable (8,301) 16,375
Debt securities (5,673) (4,856)
Mortgage related securities (14,241) (18,423)
Bank Owned Life Insurance (180) (180)
FHLB stock (1,795) (2,105)
Premises and equipment (1,127) (324)
Principal repayments on mortgage-related securities 13,875 12,307
Maturities of debt securities 585 5,595
Sales of FHLB Stock 2,373 2,051
Net cash (used in) provided by investing activities (14,484) 10,440
Financing activities:    
Net (decrease) increase in deposits (16,291) 24,810
Net change in short-term borrowings (23,230) (40,793)
Repayment of long-term debt (80,000) (40,000)
Proceeds from long-term debt 102,972 100,000
Net change in advance payments by borrowers for taxes 1,840 1,284
Cash dividends on common stock (5,520) (5,472)
Purchase of common stock returned to authorized but unissued (8,076) (9,667)
Proceeds from stock option exercises 1,027 2,265
Net cash (used in) provided by financing activities (27,278) 32,427
(Decrease) increase in cash and cash equivalents (32,906) 31,162
Cash and cash equivalents at beginning of period 71,107 39,761
Cash and cash equivalents at end of period 38,201 70,923
Supplemental information:    
Income tax payments 2,989 1,075
Interest payments 26,579 30,929
Dividends declared but not paid in other liabilities $ 3,144 $ 2,903