v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net earnings $ 10,458 $ 9,105
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Provision for credit losses 1,070 1,000
Amortization of investment security discounts, net (388) (85)
Accretion of purchase accounting adjustments (346) (380)
Amortization of mortgage servicing rights and other intangibles 453 477
Depreciation 656 638
Increase in cash surrender value of bank owned life insurance [1] (658) (550)
Stock-based compensation 213 215
Deferred income taxes (452) (934)
Net losses on sales of investment securities 2
Net gains on sales of premises and equipment and foreclosed assets (32)
Net gains on sales of loans [1] (2,126) (1,302)
Proceeds from sales of loans 76,511 44,395
Origination of loans held for sale (73,319) (44,641)
Changes in assets and liabilities:    
Accrued interest and other assets (6,305) 1,171
Accrued expenses, taxes, and other liabilities 4,497 (654)
Net cash provided by operating activities 10,232 8,457
Cash flows from investing activities:    
Net decrease (increase) in loans 7,976 (64,864)
Net change in interest-bearing deposits at banks (2,717) 647
Maturities and prepayments of investment securities 33,366 36,293
Purchases of investment securities (28,120) (12,584)
Proceeds from sales of available-for-sale investment securities 3,394
Redemption of bank stocks 13,612 7,580
Purchase of bank stocks (15,935) (11,908)
Proceeds from bank owned life insurance 262 1,093
Proceeds from sales of premises and equipment and foreclosed assets 332
Purchases of premises and equipment, net (238) (134)
Net cash provided by (used in) investing activities 8,538 (40,483)
Cash flows from financing activities:    
Net decrease in deposits (83,866) (54,865)
Federal Home Loan Bank advance borrowings 495,675 521,784
Federal Home Loan Bank advance repayments (422,162) (419,054)
Repayments on other borrowings (665) (666)
Change in repurchase agreements 98 (7,983)
Payment of dividends (2,555) (2,427)
Net cash (used in) provided by financing activities (13,475) 36,789
Net increase in cash and cash equivalents 5,295 4,763
Cash and cash equivalents at beginning of period 20,982 20,275
Cash and cash equivalents at end of period 26,277 25,038
Supplemental disclosure of cash flow information:    
Cash payments for income taxes 2,175 1,710
Cash paid for interest 10,864 12,828
Cash paid for operating leases $ 124 $ 105
[1] Not within the scope of ASC 606.