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 $ 11,007 $ 9,296
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 1,008 966
Amortization of internally developed software 1,855 1,255
Amortization of intangible assets 1,386 1,343
Net gains on sale of securities (108) 0
Net amortization (accretion) on securities 292 140
Amortization of subordinated debt issuance costs 53 53
Provision (recoveries) for credit losses (125) 363
Deferred income tax expense 1,035 535
Bank-owned life insurance income (1,190) (692)
Stock-based compensation expense 1,978 1,677
Change in assets and liabilities    
Prepaid expenses and other assets 6,864 13,191
Accrued expenses and other liabilities (3,276) (2,343)
Accrued interest payable (1,376) 276
Net cash provided by operating activities 19,403 26,060
Cash flows from investing activities    
Proceeds from maturities, prepayments, and calls of AFS securities 29,813 29,311
Proceeds from sales of AFS securities 86,190 0
Purchases of AFS securities (129,228) (195,877)
Proceeds from maturities, prepayments, and calls of HTM securities 0 14,342
Loan originations and principal payments on loans, net (94,379) (103,078)
Change in FHLB stock 993 2,155
Purchase of bank-owned life insurance (9,031) (17,207)
Net purchases of premises and equipment (234) (2,814)
Net cash paid in acquisition of BM Technologies, Inc. 0 (96,721)
Net cash used in investing activities (115,876) (369,889)
Cash flows from financing activities    
Net increase in deposits 35,042 427,692
Net change in Federal Reserve advances 0 (100,000)
Net change in FHLB advances (25,000) 0
Repurchase of common stock (40) 0
Offering expense related to 2024 issuance of common stock 0 (8)
Net proceeds from issuance of common stock 71,176 0
Net cash provided by financing activities 81,178 327,684
Net increase (decrease) in cash and cash equivalents (15,295) (16,145)
Cash and cash equivalents, beginning of year 134,116 168,055
Cash and cash equivalents, end of year 118,821 151,910
Supplemental disclosures of cash flow information    
Interest on deposits and other borrowings 42,848 43,176
Income taxes 903 1,783
Supplemental disclosures of noncash transactions    
Change in fair value of investment securities AFS, net of tax 158 1,263
Accrued liability in connection with issuance of common stock related to IPO 1,550 0
Goodwill recognized in connection with acquisition of BM Technologies, Inc., net of measurement period increase of $3,720 0 44,474
Identified intangible assets recognized in connection with acquisition of BM Technologies, Inc. 0 26,667
Deferred tax assets recognized in connection with acquisition of BM Technologies, Inc., net of measurement period decrease of $3,720 0 20,970
Additional Assets recognized in connection with acquisition of BM Technologies, Inc. 0 14,878
Additional Liabilities recognized in connection with acquisition of BM Technologies, Inc. 0 (10,268)
Amortization of net gains and losses on investment securities transferred to HTM $ 0 $ 5