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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income     $ 19,734 $ 19,593  
Adjustments to reconcile net income to net cash provided by operating activities:          
(Gain) loss on sales of securities     (124) 2,883  
Realized gain on securities transaction       (66)  
Loss (gain) on disposal of fixed assets $ 19   22 (3,799)  
Stock based compensation expense     1,041 1,008  
Provision for credit losses on loans 1,210 $ 921 3,171 1,018  
Provision for credit losses on unfunded commitments (10) (20) 100 10  
Depreciation and amortization     1,050 1,057  
Net (accretion) amortization on securities premiums and discounts     (153) 614  
Net accretion of premiums/discounts for loans acquired     (149) (158)  
Increase in cash surrender value of life insurance policies     (1,051) (1,738)  
Amortization of core deposit intangible     324 438  
Increase in interest receivable and other assets     (2,689) (11,614)  
Decrease in other liabilities     (17,587) (2,301)  
Deferred income tax benefit     (338) (289)  
Decrease in value of restricted bank equity securities       293  
Excise tax on stock repurchases     (111)    
Amortization of debt issuance costs     45 44  
Net amortization of variable interest entities     1,480 608  
Net cash provided by operating activities     4,765 7,601  
Cash flows from investing activities:          
Maturities and calls of securities available for sale     11,000 35,713  
Proceeds from sales of securities available for sale       233,187  
Purchases of securities available for sale     (247,255) (29,126)  
Principal pay downs on securities available for sale     234,381 73,852  
Loan (originations) and payments, net     (109,347) (149,884)  
Purchases of premises and equipment     (836) (787)  
Proceeds from sale of premises and equipment       4,518  
Proceeds from sales of foreclosed assets       2,732  
Purchase of bank-owned life insurance     (127) (175)  
Purchase of split dollar life insurance policies     (15,000)    
Proceeds from BOLI death benefit     1,645 54  
Net cash (used in) provided by investing activities     (125,539) 170,084  
Cash flows from financing activities:          
Increase in deposits     82,801 181,187  
Increase (decrease) in Fed funds purchased     40,000 (130,000)  
Increase (decrease) in short-term Federal Home Loan Bank advances     34,400 (150,500)  
Increase in customer repurchase agreements     17,649 40,882  
Cash dividends paid     (6,963) (6,748)  
Repurchase of common stock, net     (18,276) (7,118)  
Stock options exercised     511    
Net cash provided by (used in) financing activities     150,122 (72,297)  
Increase in cash and cash equivalents     29,348 105,388  
Cash and cash equivalents, Beginning of period     100,664 78,602 $ 78,602
Cash and cash equivalents, End of period $ 130,012 $ 183,990 130,012 183,990 $ 100,664
Supplemental disclosure of cash flow information:          
Interest paid     $ 26,210 $ 23,140