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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities:    
Net Income $ 8,706 $ 13,742
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,594 301
Depreciation 1,493 1,133
Amortization of intangibles 1,300 428
Net amortization of security discounts/premiums 229 70
Noncash operating lease expense 795 619
Amortization of finance lease right-of-use asset 45 45
Earnings on cash surrender value of life insurance (705) (274)
Mortgage loans originated for sale (21,039) (20,566)
Proceeds from sales of mortgage loans originated for sale 8,467 21,370
Gain on sale of mortgage loans (314) (591)
SBA loans originated for sale (2,783) (728)
Proceeds from sales of SBA loans originated for sale 2,948 785
Gain on sale of SBA loans (163) (57)
Loss/(gain) on sale or write-down of foreclosed assets 491 (28)
Discount on subordinated debt 0 (154)
Accretion of loan fair value marks 2,441 989
Restricted stock compensation expense 533 218
Stock option expense 132 0
Deferred income tax expense 1,309 206
Increase/(decrease) in accrued interest receivable 740 (417)
Increase in other assets 867 822
Increase/(decrease) in accrued interest payable 1,125 (584)
Increase/(decrease) in operating lease liability 1,700 (649)
Increase/(decrease) in other liabilities 4,544 (4,162)
Net Cash Provided By Operating Activities 14,455 12,518
Investing Activities:    
Proceeds from the maturity or call of available-for-sale securities 28,265 6,609
Purchases of available-for-sale securities (98,899) 0
Proceeds from the maturity or call of held-to-maturity securities 6,342 7,265
Redemption of restricted investment in bank stock 13,023 7,693
Purchases of restricted investment in bank stock (15,528) (6,892)
Net cash received from acquisitions 162,808 0
Net increase in loans (65,628) (50,465)
Purchases of bank premises and equipment (1,425) (2,720)
Proceeds from the sale of premises and equipment 0 65
Proceeds from the sale of foreclosed assets 168 72
Proceeds from bank-owned life insurance 2,022 527
Earnings on bank-owned life insurance 0 (83)
Net change in investments in tax credits and other partnerships 2,770 647
Net Cash Provided by (Used in) Investing Activities 33,918 (37,282)
Financing Activities:    
Net increase in deposits 9,393 42,275
Common stock dividends paid (6,237) (3,870)
Proceeds from Employee and Director Stock Purchase Plan stock issuance 194 163
Net change in finance lease liability (37) (36)
Proceeds from short-term borrowings 453,300 25,000
Repayment of short-term borrowings (442,633) (2,000)
Long-term debt repayment (20,081) (78)
Net Cash (Used in)/Provided by Financing Activities (6,101) 61,454
Net increase in cash and cash equivalents 42,272 36,690
Cash and cash equivalents, beginning of period 98,918 70,564
Cash and cash equivalents, end of period 141,190 107,254
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 27,424 29,819
Cash paid for income taxes 0 185
Supplemental Noncash Disclosures:    
Recognition of operating lease right-of-use assets 81 2,322
Recognition of operating lease liabilities 81 2,322
Loans transferred to foreclosed assets held-for-sale 1,273 1,402
Common Stock issued to Cumberland Advisors and 1st Colonial Shareholders 2,238 0
Fair value of assets acquired in business combinations, excluding cash [1] 756,794 0
Goodwill recorded [1] 20,391 0
Liabilities assumed in business combination [1] 753,509 0
Fair value of common stock issued [1] $ 71,853 $ 0
[1] Includes the impact of the 1st Colonial acquisition on February 27, 2026 and the Cumberland Advisors acquisition on January 1, 2026. See "Note 2 - Business Combinations" to the Consolidated Financial Statements for more information.