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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income $ 34,868 $ 31,952
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and software amortization 1,253 1,168
Net loss on securities available for sale 0 12
Net gain on sale of other equity securities (108) (567)
Net amortization of securities 360 592
Amortization of core deposit intangible 856 327
Provision for credit losses 4,957 6,090
Deferred income taxes (524) (2,939)
Net loss on sale of foreclosed assets 0 20
Stock-based compensation 1,010 870
Net decrease in loans held for sale 46 597
Income from bank owned life insurance (945) (698)
Increase in interest receivable (429) (1,748)
Increase in interest payable 356 935
Net other operating activities (2,192) 2,743
Net cash provided by operating activities 39,508 39,354
INVESTING ACTIVITIES    
Cash acquired in transaction 74,262 0
Purchase of securities available for sale (58,082) (49,675)
Proceeds from sale of securities available for sale 106,005 10,532
Proceeds from sale of other equity securities 0 800
Proceeds from maturities, calls, and paydowns of securities available for sale 41,106 18,698
Net redemption (purchase) of restricted equity securities 1,977 (2,550)
Purchase of annuities (909) 0
Purchase of bank owned life insurance (2,700) 0
Net increase in loans (215,187) (296,739)
Proceeds from sale of foreclosed assets 33 403
Purchase of premises, equipment and software (1,361) (249)
Net cash used in investing activities (54,856) (318,780)
FINANCING ACTIVITIES    
Net increase in deposits 84,361 297,446
Proceeds from issuance of common stock 446 1,563
Proceeds from restricted stock units 0 363
Repurchase of common stock 0 (979)
Net repayments of FHLB advances (48,000)  
Net proceeds from FHLB advances   39,000
Net repayment of other borrowings (9,015)  
Net proceeds of other borrowings   27,013
Net proceeds of subordinated notes 455 365
Common stock dividends paid (3,316) (3,193)
Net cash provided by financing activities 24,931 361,578
Net increase in cash and cash equivalents 9,583 82,152
Cash and cash equivalents at beginning of year 250,651 168,499
Cash and cash equivalents at end of year 260,234 250,651
Cash paid during the year for:    
Interest 77,718 51,213
Income taxes 12,418 12,956
NONCASH TRANSACTIONS    
Transfers of loans to foreclosed assets 0 43
Internally financed sales of foreclosed assets $ 0 $ 2,517