v3.26.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income $ 4,100 $ 2,453
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization, and accretion, net 959 1,090
Amortization of right-of-use assets 128 129
Deferred income tax expense (benefit) 159 (212)
Gain on retirement of subordinated debt 0 (60)
Loss on sale of other real estate owned 685 0
Loss on disposal of premises and equipment 2 0
Provision for credit losses, net (131) 0
Stock-based compensation expense 599 579
Income from bank owned life insurance (319) (302)
Subordinated debt amortization expense 99 99
Change in:    
Accrued interest receivable and other receivables 1,065 1,704
Other assets 535 2,481
Other liabilities (1,278) (6,510)
Net cash provided by operating activities 6,603 1,451
Cash Flows from Investing Activities    
Payments, available-for-sale securities 412 682
Maturities, sales, called, refunded 250 0
Purchases, available-for-sale securities 0 (502)
Maturities, called, refunded 0 405
Purchases of equity securities 0 (3,531)
Purchases of restricted investment in bank stock 0 (132)
Redemption of restricted investment in bank stock 7 0
Net increase in loan portfolio (10,222) (1,233)
Proceeds from sale of other real estate owned 1,012 0
Purchase of premises and equipment, including property held for sale (101) (55)
Net cash used in investing activities (8,642) (4,366)
Cash Flows from Financing Activities    
Net (decrease) increase in non-interest bearing demand deposits (19,581) 21,012
Net increase (decrease) in interest-bearing demand, savings, NOW, money market and time deposits 35,122 (20,481)
Net decrease in subordinated debt 0 (940)
Cash dividends paid on preferred stock (539) (539)
Cash dividends paid on common stock (758) (759)
Repurchase of common stock for tax withholding on stock-based compensation (766) 0
Repurchases of common stock (6,080) (446)
Net cash provided by (used in) financing activities 7,398 (2,153)
Increase (Decrease) in Cash and Cash Equivalents 5,359 (5,068)
Cash and Cash Equivalents, beginning of period 162,756 207,708
Cash and Cash Equivalents, end of period 168,115 202,640
Supplementary Disclosure of Cash Flow Information    
Cash paid during the period for interest 13,251 16,203
Cash paid during the period for income taxes 0 0
Supplemental Noncash Disclosures    
Net unrealized (loss) gain on securities available-for-sale (210) 440
Transfers from loans to other real estate owned $ 1,094 $ 0