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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
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     $ 12,066,000 $ 11,477,000  
Adjustments to reconcile net income to net cash provided by operating activities:          
Provision for credit losses $ 203,000 $ 171,000 845,000 423,000  
Deferred tax expense     801,000 2,021,000  
Amortization (accretion) on acquired loans     7,000 (186,000)  
Gain on sale of loans (54,000) (287,000) (252,000) (287,000)  
Proceeds from sale of loans originated for sale     4,496,000 4,749,000  
Loans originated for sale     (3,372,000) (3,562,000)  
Accretion on junior subordinated debentures     41,000 40,000  
Gain on repayment of subordinated debt, net       (34,000)  
Increase in cash surrender value of life insurance policies     (377,000) (358,000)  
Amortization/accretion of premiums/discounts on investment securities, net     57,000 64,000  
Loss (gain) on equity securities (7,000) 321,000 248,000 (252,000)  
Depreciation and amortization     966,000 1,009,000  
Core deposit intangible amortization 242,000 305,000 506,000 611,000  
Stock based compensation expense     302,000 324,000  
(Decrease) increase in deferred loan origination fees, net     (476,000) 66,000  
Net change in interest receivable and other assets     2,945,000 (1,120,000)  
Increase in salary continuation plan, net     123,000 181,000  
Net change in interest payable and other liabilities     (3,278,000) (2,415,000)  
Net cash provided by operating activities     15,648,000 12,751,000  
Cash flows from investing activities:          
Proceeds from maturities of interest bearing deposits in banks     249,000 498,000  
Purchase of investment securities AFS     (3,580,000) (26,570,000)  
Proceeds from maturities, repayments and calls of investment securities AFS     16,201,000 7,430,000  
Purchase of FHLB stock     (211,000)    
Purchase of FRB stock     (8,000) (9,000)  
Purchase of loans     (20,644,000) (27,614,000)  
(Increase) decrease in loans, net     (24,940,000) 87,068,000  
Purchase of equipment and leasehold improvements, net     (892,000) (1,388,000)  
Net cash (used in) provided by investing activities     (33,825,000) 39,415,000  
Cash flows from financing activities:          
Decrease in noninterest and interest bearing deposits in banks, net     (47,807,000) (8,601,000)  
Increase in time deposits, net     432,000 50,861,000  
Repayment of subordinated debt, net       (315,000)  
Repurchase of common stock     (5,187,000) (8,129,000)  
Dividends paid on common stock     (1,669,000) (2,313,000)  
Net cash (used in) provided by financing activities     (54,231,000) 31,503,000  
(Decrease) increase in cash and cash equivalents     (72,408,000) 83,669,000  
Cash and cash equivalents at beginning of period     364,032,000 307,539,000 $ 307,539,000
Cash and cash equivalents at end of period $ 291,624,000 $ 391,208,000 291,624,000 391,208,000 $ 364,032,000
Cash paid during the year for:          
Interest expense     20,024,000 20,024,000  
Cash paid during the year for:          
Income taxes paid, net     4,953,000 3,893,000  
Non-cash investing and financing activities:          
Change in unrealized gain on AFS securities, net of tax     2,884,000 990,000  
Transfer of loans to held-for-sale     276,000 1,684,000  
Recognition of ROU assets in exchange for lease obligations     1,469,000 575,000  
Cash dividends declared on common stock not yet paid     $ (2,197,000) $ (1,109,000)