v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 16,584 $ 10,191
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization of premises and equipment 300 238
Discount accretion on investment securities, net (1,642) (2,107)
Recapture of impairment loss on securities previously recognized in earnings (2) (1)
Fair value adjustment (gain) loss on equity security 6 (9)
Recapture of loan credit losses (382) (321)
Recapture of securities credit losses (37) (58)
Gain on sale of mortgage loans (3) (27)
Origination of loans held for sale (190) (1,726)
Proceeds from sale of loans 193 2,068
Deferred income tax expense 1 0
Changes in assets and liabilities:    
Net increase in accrued interest receivable and other assets (1,752) (1,110)
Net decrease in accrued interest payable, accrued expenses and other liabilities (462) (679)
Net cash provided by operating activities 12,614 6,459
Securities available for sale:    
Purchases of securities (356,531) (354,124)
Proceeds from calls, maturities, and paydowns 122,030 248,586
Securities held to maturity:    
Proceeds from calls, maturities and paydowns 32,206 11,165
Purchase of restricted securities, net (376) (497)
Reinvestment of dividends on equity security (8) (8)
Net decrease in loans 474 25,474
Purchases of premises and equipment (3,462) (2,509)
Net cash used in investing activities (205,667) (71,913)
Cash flows from financing activities    
Net increase in noninterest-bearing, savings, interest-bearing checking and money market deposits 429,943 33,704
Net decrease in time deposits (1,754) (1,725)
Net cash provided by financing activities 428,189 31,979
Net increase (decrease) in cash and cash equivalents 235,136 (33,475)
Cash and cash equivalents, beginning of period 586,630 410,739
Cash and cash equivalents, end of period 821,766 377,264
Supplemental disclosures of cash flow information    
Cash payments for interest 1,231 1,828
Cash payments for taxes 3,728 2,500
Supplemental disclosures of noncash investing activities    
Fair value adjustment for available for sale securities $ (3,143) $ 2,614