v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES              
Net income $ 15,214 $ 13,703 $ 11,648 $ (272) $ 28,917 $ 11,376  
Adjustments to reconcile net income to net cash provided by operating activities:              
Gain from mortgage loans held for sale         (2,689) (2,430)  
Earnings on investment in bank-owned life insurance (756)   (627)   (1,493) (1,207)  
Net gains on sales or calls of investment securities 0   (22)   (49) (22)  
Net losses (gains) on equity securities 4   (3)   11 (17)  
Gain on sales of assets held for sale         (177) 0  
Restricted stock compensation expense         1,198 888  
Depreciation and amortization         3,254 3,218  
Net accretion of purchase accounting adjustments         (3,636) (3,727)  
Provision for credit losses and reversal of unfunded commitments         358 4,906  
Net amortization of investment securities premiums         207 707  
Amortization of issuance costs on long-term borrowings         24 0  
Decrease (increase) in interest receivable         30 (72)  
Decrease in interest payable         (190) (911)  
Mortgage loans originated for sale         (111,540) (81,439)  
Proceeds from sales of loans originated for sale         108,871 80,352  
Increase in other assets         (1,698) (6,777)  
Deferred income tax         141 5,577  
(Decrease) increase in other liabilities         (665) 3,827  
Net Cash Provided by Operating Activities         20,874 14,249  
CASH FLOWS FROM INVESTING ACTIVITIES              
Proceeds from calls/maturities of investment securities held to maturity         693 335  
Proceeds from calls/maturities of investment securities available for sale         23,180 25,976  
Proceeds from sales of investment securities available for sale         22,193 98,272  
Purchase of investment securities available for sale         (48,320) (76,934)  
Net (purchases) redemption of restricted investment in bank stocks         (53) 643  
Net increase in loans         (64,627) (6,843)  
Gain on life insurance proceeds 0   (31)   (174) (285)  
Net cash and cash equivalents received from acquisition         0 36,206  
Capital expenditures         (850) (474)  
Proceeds from sales of assets held for sale         452 0  
Net Cash (Used in) Provided by Investing Activities         (67,506) 76,896  
CASH FLOWS FROM FINANCING ACTIVITIES              
Net increase in noninterest-bearing deposits         46,856 6,426  
Net increase (decrease) in interest-bearing deposits         38,595 (15,899)  
Net increase in short-term borrowings         43,519 27,215  
Proceeds from long-term borrowings         14,462 0  
Repayments on long-term borrowings         (55,000) (40,188)  
Dividends paid         (13,245) (6,923)  
Common stock repurchased         (12,747) (5,964)  
Common stock issued, net of restricted stock forfeitures and withheld for taxes         379 35  
Net Cash Provided by (Used in) Financing Activities         62,819 (35,298)  
Net Increase in Cash and Cash Equivalents         16,187 55,847  
CASH AND CASH EQUIVALENTS — BEGINNING   $ 65,648   $ 47,262 65,648 47,262 $ 47,262
CASH AND CASH EQUIVALENTS — ENDING $ 81,835   $ 103,109   81,835 103,109 $ 65,648
Supplemental disclosures of cash flow information              
Cash paid for interest         19,590 19,262  
Cash paid for Federal income taxes         7,000 1,100  
Cash paid for State income taxes         330 111  
Supplemental disclosures of certain noncash activities:              
Recognition of operating lease right of use assets         279 729  
Recognition of operating lease liabilities         279 729  
Premises and equipment, net transferred to assets held for sale         2,346 0  
Transfer of Portfolio Loans and Leases to Held-for-sale Including Other Foreclosed Transactions         569 0  
Net assets acquired         0 877,557  
Liabilities assumed         0 793,908  
Common shares issued         $ 0 $ 83,649