v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 21,440,000 $ 11,623,000
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization of premises and equipment 929,000 941,000
Net accretion of securities, loans, deposits, and other (1,263,000) (1,667,000)
Amortization of investment in affordable housing tax credits 1,173,000 952,000
Amortization of intangible assets 797,000 951,000
Amortization of right-of-use asset 2,596,000 2,545,000
Change in operating lease liabilities (2,602,000) (2,462,000)
(Reversal of) provision for credit losses (200,000) 9,133,000
Stock-based compensation, net 974,000 1,180,000
Deferred tax expense (benefit) 1,866,000 (329,000)
Gain on sale of loans (1,288,000) (439,000)
Gain on OREO (669,000) 0
Gain on sale of fixed assets 0 (42,000)
Increase in cash surrender value of life insurance (869,000) (814,000)
Loans originated for sale, net (3,248,000) (1,938,000)
Proceeds from loans sold 18,260,000 8,574,000
Other items 3,823,000 1,222,000
Net cash provided by operating activities 41,719,000 29,430,000
Investing activities    
Purchases (109,336,000) (110,410,000)
Maturities, repayments and calls 108,340,000 124,717,000
Securities held to maturity:    
Maturities, repayments and calls 0 1,000,000
Purchase of other equity securities, net (8,079,000) (228,000)
Net increase of investment in qualified affordable housing projects (2,212,000) (1,538,000)
Net increase in loans (68,245,000) (217,800,000)
Proceeds from sales of loans originally classified as HFI 42,198,000 24,528,000
Proceeds from sales of OREO 5,569,000 7,526,000
Other investing activities, net (98,000) (236,000)
Net cash used in investing activities (31,863,000) (172,441,000)
Financing activities    
Net increase in demand deposits and savings accounts 299,917,000 9,518,000
Net (decrease) increase in time deposits (259,715,000) 94,871,000
Proceeds from FHLB advances 120,000,000 150,000,000
Repayments of FHLB Advances (90,000,000) (170,000,000)
Cash dividends paid (5,520,000) (5,719,000)
Restricted stock units vesting (405,000) (224,000)
Common stock repurchased, net of repurchase costs (4,470,000) (1,499,000)
Exercise of stock options 1,035,000 171,000
Net cash provided by financing activities 60,842,000 77,118,000
Net increase (decrease) in cash and cash equivalents 70,698,000 (65,893,000)
Cash and cash equivalents at beginning of period 212,317,000 257,745,000
Cash and cash equivalents at end of period 283,015,000 191,852,000
Supplemental disclosure of cash flow information    
Interest paid 54,139,000 53,654,000
(Refunds received) taxes paid (4,887,000) 2,869,000
Non-cash investing and financing activities:    
Transfer from loans to other real estate owned 19,391,000 11,696,000
Loans transferred to held for sale, net 53,855,000 19,475,000
Additions to servicing assets 360,000 104,000
Recognition of operating lease right-of-use assets (1,638,000) (51,000)
Recognition of operating lease liabilities $ 1,638,000 $ 51,000