v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 23,734 $ 20,548
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 1,413 1,344
Amortization 457 385
Share-based compensation earned 256 215
Share-based board compensation earned 27 35
Net (accretion) amortization on securities AFS 528 543
Net (accretion) amortization on securities HTM (602) (642)
(Gain) Loss on sale and call of securities 22 0
(Gain) Loss on equity securities 31 (53)
(Gain) Loss on other real estate and foreclosed assets 41 40
(Gain) Loss on disposal of premises and equipment (30) (12)
Provision for credit losses 1,500 900
Deferred income tax (benefit) expense (770) (824)
Net (increase) decrease in loans HFS 636 (2,164)
Net (increase) decrease in accrued interest receivable 814 21
Net (increase) decrease in BOLI (457) (437)
Net increase (decrease) in accrued interest payable 221 (1,341)
Net increase (decrease) in accrued income taxes payable (288) (511)
Other operating activities, net 1,665 (337)
Net cash provided by (used in) operating activities 29,198 17,710
Activity in securities AFS:    
Sales 2,019 0
Maturities, principal repayments, and calls 61,999 53,245
Purchases (36,595) (68,470)
Activity in securities HTM:    
Maturities, principal repayments, and calls 4,865 5,133
Capital contribution in partnerships (399) (50)
Return of capital in partnerships 450 476
Net (increase) decrease in loans HFI (15,658) (64,463)
Proceeds from sales of foreclosed assets 9 270
Proceeds from sales of premises and equipment 865 12
Insurance proceeds from premises and equipment 30 0
Purchases of premises and equipment (3,144) (525)
Net cash provided by (used in) investing activities 14,441 (74,372)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase (decrease) in deposits (58,345) 5,499
Repurchase of common stock, excluding excise tax 0 (5,756)
Cash dividends (3,290) (1,614)
Net cash provided by (used in) financing activities (61,635) (1,871)
Net change in cash and cash equivalents (17,996) (58,533)
Cash and cash equivalents - beginning of period 213,392 268,975
Cash and cash equivalents - end of period 195,396 210,442
Cash paid during the period for:    
Interest 20,876 23,450
Federal income taxes 6,925 6,350
State income taxes 15 12
SUPPLEMENTAL INFORMATION FOR NON-CASH INVESTING AND FINANCING ACTIVITIES    
Assets acquired in settlement of loans $ 219 $ 487