v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:          
Net income     $ 2,363,000 $ 17,073,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses $ 843,000 $ 2,973,000 5,414,000 3,818,000  
Deferred (benefit) tax expense     (2,501,000) 1,495,000  
(Accretion) amortization on acquired loans     (40,000) 180,000  
Gain on sale of loans (113,000)   (325,000) (251,000)  
Loss on sale of AFS securities 6,832,000   6,832,000    
Proceeds from sale of loans originated for sale     4,012,000 4,496,000  
Loans originated for sale     (3,659,000) (3,372,000)  
Amortization on junior subordinated debentures     270,000 61,000  
Increase in cash surrender value of life insurance policies     (595,000) (571,000)  
Amortization of premiums on investment securities, net     63,000 95,000  
Loss (gain) on equity securities 589,000 (771,000) 436,000 (523,000)  
Depreciation and amortization     1,348,000 2,460,000  
Core deposit intangible amortization 113,000 242,000 341,000 748,000 $ 948,000
Stock based compensation expense     1,627,000 475,000  
Increase (decrease) in deferred loan origination fees, net     41,000 (505,000)  
Net change in interest receivable and other assets     (1,343,000) 1,011,000  
Increase in salary continuation plan, net     120,000 254,000  
Net change in interest payable and other liabilities     10,557,000 (3,951,000)  
Net cash provided by operating activities     24,961,000 22,993,000  
Cash flows from investing activities:          
Proceeds from maturities of interest bearing deposits in banks       249,000  
Purchase of investment securities AFS     (133,741,000) (11,569,000)  
Proceeds from maturities, repayments and calls of investment securities AFS     30,801,000 24,692,000  
Proceeds from sales of investment securities AFS 106,800,000   106,776,000    
Proceeds from calls and sales of equity securities     9,454,000    
Purchase of FHLB stock     (522,000) (211,000)  
Purchase of FRB stock     (45,000) (12,000)  
Proceeds from sale of loans held for investment     9,947,000    
Purchase of loans     (118,394,000) (24,633,000)  
Decrease (increase) in loans, net     18,273,000 (64,479,000)  
Purchase of equipment and leasehold improvements, net     (1,198,000) (2,008,000)  
Net cash used in investing activities     (78,649,000) (77,971,000)  
Cash flows from financing activities:          
Increase (decrease) in noninterest and interest bearing deposits in banks, net     124,126,000 (16,767,000)  
(Decrease) increase in time deposits, net     (45,579,000) 10,810,000  
Repayment of subordinated debt     (3,093,000) (64,685,000)  
Increase in other borrowings     25,000,000    
Repayment of other borrowings     (25,000,000)    
Repurchase of common stock       (6,096,000)  
Dividends paid on common stock     (9,805,000) (3,870,000)  
Net cash provided by (used in) financing activities     65,649,000 (80,608,000)  
Increase (decrease) in cash and cash equivalents     11,961,000 (135,586,000)  
Cash and cash equivalents at beginning of period     206,514,000 364,032,000 364,032,000
Cash and cash equivalents at end of period $ 218,475,000 $ 228,446,000 218,475,000 228,446,000 $ 206,514,000
Cash paid during the period:          
Interest expense     26,492,000 32,287,000  
Income taxes paid, net     6,269,000 6,473,000  
Non-cash investing and financing activities:          
Change in unrealized gain on AFS securities, net of tax     2,099,000 5,044,000  
Transfer of loans to held-for-sale     1,117,000 697,000  
Recognition of ROU assets in exchange for lease obligations     3,660,000 2,701,000  
Cash dividends declared on common stock not yet paid     $ (3,277,000) $ (2,724,000)