v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net Income (Loss) $ 13,662 $ 11,015
Adjustments to reconcile net income to net cash (used) provided by operating activities:    
Provision for credit losses 1,040 1,381
Depreciation expense and software amortization 841 722
Increase in cash value of bank-owned life insurance (922) (889)
Stock-based compensation expense 636 479
Amortization of operating lease right-of-use assets 429 416
Amortization of debt issuance costs 0 28
Write-down on other real estate owned 0 99
Write-down on repossessed assets 0 104
Net gain on sale of other real estate owned 0 (64)
Gain on sale of government guaranteed loans, including originations of servicing rights (644) (265)
Gain on sale of other loans (230) 0
Income from mortgage operations (797) (547)
Discount accretion and premium amortization on securities available-for-sale (274) (369)
Amortization of intangible assets 210 291
Deferred income tax expense 1,016 153
Originations of loans held for sale (3,327,341) (3,010,117)
Proceeds from loans held for sale 3,302,671 2,980,351
Increase in other assets (439) (1,507)
(Decrease) increase in other liabilities (671) 1,873
Net cash used by operating activities (10,813) (16,846)
Investing activities    
Purchase of securities available-for-sale (48,492) (20,925)
Proceeds from paydowns, calls, and maturities on securities available-for-sale 29,401 29,523
Net (purchase) sale of non-marketable equity securities (2,294) 642
Loan originations and principal collections, net (114,153) (123,343)
Net purchase of premises, furniture and equipment (1,330) (1,092)
Proceeds from sales of other real estate owned 0 829
Net cash used by investing activities (136,868) (114,366)
Financing activities    
Dividends paid on common stock (1,207) 0
Net increase in deposits 59,987 133,499
Net proceeds (repayment) of Federal Home Loan Bank of Atlanta borrowings 45,000 (15,000)
Proceeds from issuance of common stock under incentive plan 223 42
Repurchase of common stock (1,235) 0
Net repayment of commercial line of credit 0 (12,000)
Net cash provided by financing activities 102,136 106,541
Net decrease in cash and cash equivalents (45,545) (24,671)
Cash and cash equivalents, beginning of year 79,767 67,961
Cash and cash equivalents, end of period 34,222 43,290
Cash paid during the period for:    
Interest 26,488 25,022
Income taxes 550 1,368
Noncash investing and financing activities:    
Unrealized (loss) gain on securities available-for-sale, net (868) 2,927
Unrealized loss on derivatives, net (388) (330)
Transfers from loans held for investment to loans held for sale 25,814 4,496
Right-of-use assets obtained in exchange for new operating lease liabilities 2,075 535
Lease liabilities arising from obtaining right-of-use assets 2,902 535
Employee Stock Option    
Financing activities    
Taxes paid in net settlement of tax obligation upon settlement of restricted stock units (35) 0
Restricted Stock Units    
Financing activities    
Taxes paid in net settlement of tax obligation upon settlement of restricted stock units $ (597) $ 0