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 (Loss) $ 4,981 $ 3,740 $ 5,270 $ (6,974) $ 8,721 $ (1,704)  
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:              
Depreciation         419 389  
Amortization of other assets         428 543  
Origination of loans held for sale         (53,579) (42,521)  
Proceeds from sale of loans held for sale         54,046 43,418  
Net (gain) on sales of loans         (1,658) (1,528)  
Provision for credit losses 3,503   668   5,464 1,901  
(Gain) on the sale of portfolio loans         0 (5)  
Loss on the sale and disposal of premises and equipment 4   0   4 16  
Gain on sale of other assets 0   0   39 133  
Loss on the sale of securities 0   0   0 12,425  
(Gain) on the sale of other assets (3,486) [1]   0 [1]   (3,486) [2] 0 [2]  
(Gain) on the sale of other assets 0   0   39 133  
Amortization of subordinated debt issuance costs         34 33  
Stock-based compensation expense         800 613  
(Accretion) of premiums and discounts on debt securities and loans, net         (515) (273)  
Bank owned life insurance income         (573) (551)  
Changes in assets and liabilities:              
(Increase) in other assets         (17,419) (539)  
(Decrease) increase in other liabilities         (952) (3,984)  
Net cash (used in) provided by operating activities         (8,227) 8,366  
Cash Flows from Investing Activities              
Proceeds from maturities, calls, and principal payments of securities available for sale         16,289 6,899  
Proceeds from the sale of securities available for sale 0   0   0 86,822  
Purchases of securities available for sale         (9,824) (91,155)  
Proceeds from the sale of restricted investments         1,931 3,815  
Purchases of restricted investments         (20) (44)  
Purchases of bank premises and equipment         (491) (799)  
Proceeds from the sale of bank premises and equipment         0 40  
Proceeds from the sale of repossessed assets         96 381  
Proceeds from sale of other assets         5,061 0  
Proceeds from the sale of portfolio loans         0 18,772  
Net (increase) decrease in loans         (28,964) 8,290  
Funding of capital commitments related to other investments         0 (492)  
Net cash (used in) provided by investing activities         (15,922) 32,529  
Cash Flows from Financing Activities              
Net increase in noninterest bearing demand deposits, savings, and interest bearing demand deposits         23,084 217,456  
Net (decrease) in time deposits         (28,509) (26,088)  
Net increase in federal funds purchased         11 172  
Repayments of short-term Federal Home Loan Bank advances         0 (25,000)  
Repayments of long-term Federal Home Loan Bank advances         (40,000) (55,000)  
Net proceeds from issuance of common stock in public offering         0 53,501  
Repurchase and retirement of common stock         (284) (315)  
Cash dividends paid         (3,355) (2,778)  
Net cash (used in) provided by financing activities         (49,053) 161,948  
(Decrease) increase in cash and cash equivalents         (73,202) 202,843  
Cash and Cash Equivalents              
Beginning   $ 217,194   $ 193,159 217,194 193,159 $ 193,159
Ending $ 143,992   $ 396,002   143,992 396,002 $ 217,194
Supplemental Disclosures of Cash Flow Information              
Interest         15,549 20,125  
Income taxes         419 1,200  
Supplemental Schedule of Noncash Investing and Financing Activities:              
Unrealized (loss) gain on securities available for sale         (1,032) 14,358  
Repossessed assets acquired in settlement of loans         302 186  
Lease liabilities arising from right-of-use assets         $ 204 $ 773  
[1] As reported in the Unaudited Consolidated Statements of Operations.
[2] As reported in the Unaudited Consolidated Statements of Operations.