v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income     $ 1,218,000 $ 12,066,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses $ 5,241,000 $ 203,000 4,571,000 845,000  
Deferred tax expense     (3,382,000) 801,000  
(Accretion) amortization on acquired loans     (158,000) 7,000  
Gain on sale of loans (89,000) (54,000) (212,000) (252,000)  
Proceeds from sale of loans originated for sale     2,810,000 4,496,000  
Loans originated for sale     (2,579,000) (3,372,000)  
Amortization on junior subordinated debentures     255,000 41,000  
Increase in cash surrender value of life insurance policies     (393,000) (377,000)  
Amortization of premiums on investment securities, net     50,000 57,000  
(Gain) loss on equity securities (95,000) (7,000) (153,000) 248,000  
Depreciation and amortization     995,000 966,000  
Core deposit intangible amortization 113,000 242,000 227,000 506,000 $ 948,000
Stock based compensation expense     1,354,000 302,000  
Increase (decrease) in deferred loan origination fees, net     119,000 (476,000)  
Net change in interest receivable and other assets     (3,679,000) 2,945,000  
Increase (decrease) in salary continuation plan, net     113,000 123,000  
Net change in interest payable and other liabilities     10,967,000 (3,278,000)  
Net cash provided by operating activities     12,123,000 15,648,000  
Cash flows from investing activities:          
Proceeds from maturities of interest bearing deposits in banks       249,000  
Purchase of investment securities AFS     (24,414,000) (3,580,000)  
Proceeds from maturities, repayments and calls of investment securities AFS     23,333,000 16,201,000  
Purchase of FHLB stock     (522,000) (211,000)  
Purchase of FRB stock     (11,000) (8,000)  
Proceeds from sale of loans held for investment     8,658,000    
Purchase of loans     (66,548,000) (20,644,000)  
Decrease (increase) in loans, net     47,503,000 (24,940,000)  
Purchase of equipment and leasehold improvements, net     (907,000) (892,000)  
Net cash provided by (used in) investing activities     (12,908,000) (33,825,000)  
Cash flows from financing activities:          
Increase (decrease) in noninterest and interest bearing deposits in banks, net     62,527,000 (47,807,000)  
Increase (decrease) in time deposits, net     (106,249,000) 432,000  
Repayment of junior subordinated debentures     (3,093,000)    
Increase in other borrowings, net     25,000,000    
Repurchase of common stock       (5,187,000)  
Dividends paid on common stock     (6,532,000) (1,669,000)  
Net cash provided by (used in) financing activities     (28,347,000) (54,231,000)  
Increase (decrease) in cash and cash equivalents     (29,132,000) (72,408,000)  
Cash and cash equivalents at beginning of period     206,514,000 364,032,000 364,032,000
Cash and cash equivalents at end of period $ 177,382,000 $ 291,624,000 177,382,000 291,624,000 $ 206,514,000
Cash paid during the year for:          
Interest expense     17,565,000 20,024,000  
Income taxes paid, net     5,999,000 4,953,000  
Non-cash investing and financing activities:          
Change in unrealized gain on AFS securities, net of tax     811,000 2,884,000  
Transfer of loans to held-for-sale       276,000  
Recognition of ROU assets in exchange for lease obligations     3,660,000 1,469,000  
Cash dividends declared on common stock not yet paid     $ (3,273,000) $ (2,198,000)