v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Net income $ 7,936 $ 7,728 $ 15,766 $ 15,749  
Adjustments to reconcile net income to net cash from operating activities          
Provision for credit losses 2,641 2,021 5,170 3,613  
Depreciation, amortization and accretion     4,718 6,256  
Compensation expense related to stock options and restricted stock awards     1,270 1,038  
Earnings on cash surrender value of BOLI     (522) (505)  
Gain on sale of loans held for sale     (4,965) (3,672)  
Change in fair value on portfolio loans measured under the fair value option     56 (266)  
Origination of loans held for sale     (276,998) (225,320)  
Proceeds from sale of loans held for sale     313,645 221,880  
Gain on purchase of tax credits     0 (660)  
Purchase of tax credits     0 (7,587)  
(Recovery) impairment of MSRs (4) 38 (59) 29  
Changes in operating assets and liabilities          
Accrued interest receivable     351 (389)  
Other assets     1,636 5,458  
Other liabilities     642 (302)  
Net cash from operating activities     60,710 15,322  
CASH FLOWS USED BY INVESTING ACTIVITIES          
Maturities, prepayments, and calls     35,614 26,174  
Purchases     (17,663) (46,540)  
Purchases     (4,366) (23,235)  
Maturities, prepayments, and calls     3,000 0  
Maturities of certificates of deposit at other financial institutions     0 1,479  
Portfolio loan originations and principal collections, net     (29,983) (98,600)  
Purchase of portfolio loans     (383) (3,956)  
Purchase of premises and equipment     (847) (1,642)  
Proceeds from bank owned life insurance death benefits     0 771  
Change in FHLB stock, net     (6,449) 4,042  
Capital contributions to affordable housing tax credit investments     (600) 0  
Net cash used by investing activities     (21,677) (141,507)  
CASH FLOWS (USED BY) FROM FINANCING ACTIVITIES          
Net (decrease) increase in deposits     (224,773) 213,937  
Proceeds from borrowings     1,820,850 614,000  
Repayments of borrowings     (1,625,655) (687,501)  
Dividends paid on common stock     (4,328) (4,353)  
Disbursements from stock options exercised, net     (143) 0  
Issuance of common stock - employee stock purchase plan     764 650  
Common stock repurchased     (4,257) (8,988)  
Net cash (used by) from financing activities     (37,542) 127,745  
NET INCREASE IN CASH AND CASH EQUIVALENTS     1,491 1,560  
CASH AND CASH EQUIVALENTS, beginning of period     28,219 31,635 $ 31,635
CASH AND CASH EQUIVALENTS, end of period $ 29,710 $ 33,195 29,710 33,195 $ 28,219
Cash paid during the period for:          
Interest on deposits and borrowings     32,645 31,234  
Income taxes     3,725 51  
SUPPLEMENTARY DISCLOSURES OF NONCASH OPERATING, INVESTING AND FINANCING ACTIVITIES          
Change in fair value on available-for-sale investment securities     (427) 1,959  
Change in fair value on fair value and cash flow hedges     3,260 (5,343)  
Retention of gross MSRs from loan sales     1,815 1,255  
ROU assets in exchange for lease liabilities     $ 1,493 $ 0