v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 11,318 $ 7,472
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense 733 875
Depreciation and amortization 273 217
Gain on sale of other real estate owned (5)
Deferred income tax expense (benefit) 37 (191)
Net (accretion) amortization of fees, premiums and discounts (168) (65)
Stock-based compensation expense 430 296
(Increase) decrease in accrued interest receivable (1,241) 210
Amortization of right-of-use lease assets 212 127
Net decrease in operating lease liabilities (198) (113)
(Increase) decrease in other assets 1,056 (1,033)
Increase in other liabilities 5,707 1,497
Net cash provided by operating activities 18,154 9,292
Cash flows from investing activities:    
Principal repayments of debt securities available for sale 557 556
Principal repayments of debt securities held-to-maturity 7 22
Purchase of debt securities available for sale (2,342)
Net (increase) decrease in loans (257,643) 19,663
Proceeds from sale of other real estate owned 556
Purchases of premises and equipment (915) (581)
Redemption of FHLB stock 1,062 2,271
Net cash (used in) provided by investing activities (258,718) 21,931
Cash flows from financing activities:    
Net increase in deposits 282,295 106,670
Net decrease in FHLB Advances (25,000) (50,000)
Increase in other borrowings 14,000
Proceeds from sale of common stock, net 948 231
Net cash provided by financing activities 272,243 56,901
Net increase in cash and cash equivalents 31,679 88,124
Cash and cash equivalents at beginning of the period 114,559 93,630
Cash and cash equivalents at end of the period 146,238 181,754
Cash paid during the period for:    
Interest 10,696 9,305
Income taxes 1,725 2,424
Supplemental noncash transactions:    
Net change in unrealized gain (loss) on debt securities available for sale, net of income taxes (214) 166
Amortization of unrealized loss on debt securities transferred to held-to-maturity $ 1 $ (1)