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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 6,613 $ 5,333
Adjustments reconciling net income to net cash provided by operating activities:    
Provision for credit losses 1,500 1,000
Depreciation, amortization, and accretion 1,778 2,002
Equity method investment loss (90) (35)
Stock-based compensation expense 192 398
Net change in servicing asset 38 (240)
Loss on sales of securities, available-for-sale 0 555
Gain on sales of SBA loans (1,035) (2,046)
Gain on sales of other real estate owned 0 (131)
Originations of loans held for sale (51,987) (61,649)
Proceeds from sales of loans held for sale 67,964 60,551
Change in bank-owned life insurance (412) (540)
Deferred tax expense 62 377
Change in other assets (5,780) (122)
Change in other liabilities (898) (424)
Net cash provided by operating activities 17,945 5,029
Investing Activities    
Purchases of investment securities, available-for-sale (22,372) (2,275)
Proceeds from maturities, calls, and paydowns of investment securities, available-for-sale 12,798 16,834
Proceeds from sales of investment securities, available-for-sale 0 8,555
Proceeds from maturities, calls and paydowns of securities, held-to-maturity 8,744 2,509
Change in loans, net (79,229) 23,343
Purchase of premises and equipment (346) (101)
Proceeds from insurance-Branch fire 803 0
Proceeds from sales of other real estate owned 0 467
Proceeds from bank-owned life insurance 0 700
Redemption (purchase) of Federal Home Loan Bank Stock (38) 869
Net cash provided by (used in) investing activities (79,640) 50,901
Financing Activities    
Change in noninterest-bearing customer deposits (12,465) (22,579)
Change in interest-bearing customer deposits 67,053 537
Dividends paid for common stock (2,015) (1,975)
Repayments on Federal Home Loan Bank Advances (50,000) (70,000)
Proceeds from Federal Home Loan Bank Advances 50,000 50,000
Redemption of subordinated debt 0 (500)
Repurchase and retirement of shares (630) 0
Tax withholding related to vesting of restricted stock (77) (66)
Net cash provided by (used in) financing activities 51,866 (44,583)
Net increase (decrease) in cash and cash equivalents (9,829) 11,347
Cash and cash equivalents at beginning of period 231,034 83,322
Cash and cash equivalents at end of period 221,205 94,669
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest 14,020 14,604
Cash paid during the period for income taxes 7 2
Noncash Investing and Financing Activities    
Transfers to other real estate $ 320 $ 450