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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net income (loss) $ 8,510 $ 4,876
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for credit losses on loans 0 75
Noncash contribution expense to employee stock ownership plan 373 417
Noncash director compensation expense 215 255
Stock-based compensation expense 274 168
Amortization of core deposit intangible 200 227
Amortization of investment security premiums, net of accretion of discounts (38) 277
Accretion of discounts on acquired loans, net 5 45
Accretion of discount on subordinated notes 48 0
Net change in deferred loan origination costs/fees 77 (9)
Depreciation and amortization 263 322
Earnings on bank-owned life insurance policies (487) (476)
Earnings on bank-owned life insurance death benefits (479) (68)
Net changes in interest receivable and other assets (5,117) 2,050
Net changes in interest payable and other liabilities (2,759) (3,223)
Total adjustments (7,425) 60
Net cash provided by operating activities 1,085 4,936
Cash Flows from Investing Activities:    
Purchase of available-for-sale securities (65,196) (33,561)
Proceeds from paydowns/maturities of held-to-maturity securities 0 44,681
Proceeds from paydowns/maturities of available-for-sale securities 59,213 18,316
Proceeds from sales of non-accrual loans 9,067 1,295
(Increase) decrease in loans receivable, net (2,233) 8,958
Proceeds from bank-owned life insurance policies 1,177 504
Purchase of premises and equipment (164) (314)
Net cash provided by investing activities 1,864 39,879
Cash Flows from Financing Activities:    
Net increase in deposits 12,584 81,956
Repayment of finance lease obligations (41) (38)
Proceeds from stock options exercised 30 0
Restricted stock surrendered for tax withholdings upon vesting (156) (96)
Cash dividends paid on common stock (4,028) (4,025)
Stock repurchased (6) 0
Proceeds from stock issued under employee and director stock purchase plans 9 8
Net cash provided by financing activities 8,392 77,805
Net increase in cash, cash equivalents and restricted cash 11,341 122,620
Cash, cash equivalents and restricted cash at beginning of period 225,303 137,304
Cash, cash equivalents and restricted cash at end of period 236,644 259,924
Supplemental disclosure of cash flow information:    
Interest paid on deposits and borrowings 12,290 10,806
Income taxes paid, net of refunds (421) 0
Supplemental disclosure of noncash investing and financing activities:    
Change in net unrealized gains or losses on available-for-sale securities (7,642) 3,289
Amortization of net unrealized loss on available-for-sale securities transferred to held-to-maturity $ 0 $ 340