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 $ 4,832 $ 5,014
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and accretion of premiums and discounts on investments, net (138) (88)
Provision for credit losses 60 252
Loans originated for sale   (3,973)
Proceeds from sale of loans   3,145
Net gain on sale of loans   (107)
Amortization of intangible assets 14 37
Depreciation and amortization 662 622
Net gain from disposal of premises and equipment (22)  
Deferred income tax expense 513 946
Increase in cash surrender value of insurance (401) (382)
Net decrease (increase) in accrued interest receivable 290 (67)
Expense of earned ESOP shares 165 115
Share-based compensation expense 75 19
Net decrease in other assets 7,151 734
Net (decrease) increase in accrued expenses and other liabilities (4,091) 474
Net cash provided by operating activities 9,110 6,741
Cash Flows from Investing Activities    
Proceeds from maturities and principal repayments of securities 12,660 24,608
Purchases of securities (22,427) (2,626)
Net purchases of FHLB Stock 804 1,937
Net decrease in loans 34,847 11,659
Purchases of bank premises and equipment (842) (298)
Proceeds from disposal of premises and equipment 574  
Net cash provided by investing activities 25,616 35,280
Cash Flows from Financing Activities    
Net increase in demand deposits, NOW, money market and savings accounts 21,959 32,173
Net increase in time deposits 7,661 17,852
Net increase in mortgagors' escrow accounts 3,807 3,324
Net increase (decrease) in short-term debt 1,709 (45,000)
Proceeds from borrowings   1,830
Repayment of borrowings (21,709)  
Share redemption for tax withholding   (62)
Stock repurchases (1,813)  
Proceeds from exercise of stock options 225  
Proceeds from issuance of common stock 156,012  
Net cash provided by financing activities 167,851 10,117
Net increase in cash and cash equivalents 202,577 52,138
Cash and Cash Equivalents    
Beginning balance 101,986 37,484
Ending balance 304,563 89,622
Supplemental Disclosures of Cash Flow Information    
Interest 11,149 11,057
Income taxes $ 661 $ 431