v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows from Operating Activities:    
Net income $ 33,273 $ 25,135
Adjustments to reconcile net income to net cash provided by operating activities:    
Credit loss expense (benefit) 0 0
Net amortization and accretion 2,236 2,312
Stock-based compensation 2,115 1,986
Increase in cash value of bank-owned life insurance (937) (885)
Depreciation 3,475 3,372
Provision for deferred income taxes (44) 875
Change in assets and liabilities:    
Increase in accrued interest receivable (81) (541)
Decrease in other assets 907 1,055
Increase in accrued expenses and other liabilities 2,013 1,377
Net cash provided by operating activities 42,957 34,686
Cash Flows from Investing Activities:    
Proceeds from principal paydowns, maturities and calls of securities available for sale 29,803 30,319
Purchases of securities available for sale (3,951) 0
Purchases of Federal Home Loan Bank stock (212) (264)
Proceeds from redemption of Federal Home Loan Bank stock 2,953 203
Net (increase) decrease in loans 6,490 (3,945)
Purchases of premises and equipment (926) (2,905)
Net cash used in investing activities 34,157 23,408
Cash Flows from Financing Activities:    
Net decrease in deposits (197,824) (51,079)
Principal payments on Federal Home Loan Bank Bank advances (60,000) 0
Principal payments on long-term debt (3,750) (3,750)
Common stock dividends paid (12,927) (12,679)
Restricted stock units withheld for payroll taxes (1,278) (1,132)
Net cash provided by (used in) financing activities (275,779) (68,640)
Net decrease in cash and cash equivalents (198,665) (10,546)
Cash and Cash Equivalents    
Beginning 471,086 243,478
Ending 272,421 232,932
Supplemental Disclosures of Cash Flow Information:    
Cash payments for interest 67,189 77,326
Cash payments for income taxes $ 8,630 $ 2,670