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 (loss) $ 13,165 $ (7,715)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Depreciation and amortization of premises and equipment 1,341 1,276
Credit loss expense - loans 1,604 18,828
Credit loss expense (benefit) - off-balance sheet credit exposures 376 (141)
Deferred income tax benefit (2,149)  
Net loss on sale of securities available for sale   619
Gain on sale of loans (59) (79)
(Gain) loss on premises and equipment (3) 356
Net amortization of securities (522) (100)
Proceeds from sale of loans 2,284 1,916
Loans originated for sale (1,825) (987)
Amortization of right of use assets 232 233
Amortization of subordinated debt issuance costs 62 59
Increase in cash surrender value of bank-owned life insurance (649) (568)
Decrease (increase) in income tax receivable 2,498 (5,728)
Net change in accrued interest receivable (163) (25)
ESOP expense 730  
Other, net 1,544 (12,512)
Net cash provided (used) by operating activities 18,466 (4,568)
Securities available for sale    
Maturities, principal payments, calls and sales 26,327 38,529
Purchases (74,191) (32,103)
Securities held to maturity    
Maturities, principal payments, calls and sales 3,500  
Purchases (3,000)  
Equity securities    
Redemption of Federal Home Loan Bank stock 4,977 7,452
Purchases of Federal Home Loan Bank stock (1,227) (4,806)
Net change in loans 38,391 (67,172)
Purchases of bank owned life insurance (10,000)  
Proceeds from sale of premises and equipment 18 156
Purchases of premises and equipment (1,558) (2,620)
Net cash used by investing activities (16,763) (60,564)
Cash flows from financing activities:    
Net change in deposits 25,325 376,274
Net change in short-term Federal Home Loan Bank advances (50,000) (15,000)
Repayment of long-term Federal Home Loan Bank advances (50,000) (50,000)
Cash dividends declared and paid on common stock (2,008)  
Net cash (used) provided by financing activities (76,683) 311,274
Net change in cash and cash equivalents (74,980) 246,142
Cash and due from banks at beginning of year 145,454 62,444
Cash and due from banks at end of year 70,474 308,586
Supplementary cash flow information:    
Interest paid on deposits and borrowed funds 19,335 23,489
Income taxes paid, net of refunds $ 4,031 $ 2,061