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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities:      
Net Income $ 56,248 $ 49,437 $ 37,397
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 1,297 1,516 3,699
Depreciation 4,855 4,866 4,900
Amortization of intangibles 3,046 1,784 1,780
Net amortization of security discounts/premiums 330 397 472
Noncash operating lease expense 2,844 2,184 1,945
Amortization of finance lease right-of-use asset 180 179 180
Earnings on cash surrender value of life insurance (1,979) (1,141) (1,112)
Mortgage loans originated for sale (103,623) (113,741) (82,714)
Proceeds from sales of mortgage loans originated for sale 109,851 113,008 82,687
Gain on sale of mortgage loans (2,832) (2,476) (1,353)
SBA loans originated for sale (3,426) (4,603) (11,211)
Proceeds from sales of SBA loans originated for sale 3,645 4,951 10,640
Gain on sale of SBA loans (220) (347) (571)
Gain on sale of property, plant, and equipment (51) (10) 0
Loss/(gain) on sale of foreclosed assets, net 646 80 (144)
Discount on subordinated debt (461) (613) (587)
Stock compensation expense 1,999 1,047 1,103
Change in deferred income taxes 13,891 1,516 (1,551)
Increase in accrued interest receivable (523) (1,026) (6,244)
(Increase)/decrease in other assets (4,114) (4,988) 9,736
(Decrease)/increase in accrued interest payable (2,571) (773) 10,043
Increase/(decrease) in operating lease liability 3,339 (2,123) (2,540)
(Decrease)/increase in other liabilities (2,336) 2,264 (4,214)
Net Cash Provided By Operating Activities 80,035 51,388 52,341
Investing Activities:      
Proceeds from the sale of available-for-sale securities 0 0 1,751
Proceeds from the maturity or call of available-for-sale securities 60,253 33,756 16,611
Purchases of available-for-sale securities (201,796) (72,712) 0
Proceeds from the maturity or call of held-to-maturity securities 34,943 16,356 10,490
Stock dividends received on FHLB and other bank stock 443 1,288 864
(Purchases)/reduction of restricted investment in bank stock (558) 8,019 (9,317)
Net cash received/(paid) from acquisitions 218,112 (2,676) 1,068
Net increase in loans (25,515) (190,658) (424,939)
Purchases of bank premises and equipment (8,234) (6,916) (2,770)
Proceeds from the sale of premises and equipment 352 163 0
Proceeds from the sale of foreclosed assets 1,891 359 1,256
Proceeds from bank-owned life insurance 1,077 6,683 774
Earnings on bank-owned life insurance 0 (2,566) (125)
Net change in investments in tax credits and other partnerships 2,201 162 (4,588)
Net Cash Provided by (Used in) Investing Activities 83,169 (208,742) (408,925)
Financing Activities:      
Net (decrease)/increase in deposits (95,024) 343,715 286,498
Common stock dividends paid (18,160) (13,822) (12,981)
Proceeds from Employee and Director Stock Purchase Plan stock issuance 619 561 482
Proceeds from public offering of common stock 0 75,956 0
Treasury stock purchased (2,250) (323) (4,876)
Net change in finance lease liability (146) (134) (93)
Proceeds from short-term borrowings 243,583 1,305,482 1,731,919
Repayment of short-term borrowings (224,750) (1,545,014) (1,593,034)
Long-term debt repayment (318) (35,266) (30,449)
Proceeds from long-term debt 0 0 25,000
Subordinated debt redemption (45,280) 0 (10,000)
Exercise of stock options 6,876 0 0
Net Cash (Used in)/Provided by Financing Activities (134,850) 131,155 392,466
Net increase/(decrease) in cash and cash equivalents 28,354 (26,199) 35,882
Cash and cash equivalents, beginning of period 70,564 96,763 60,881
Cash and cash equivalents, end of period 98,918 70,564 96,763
Supplemental Disclosures of Cash Flow Information:      
Cash paid for interest 127,217 130,685 77,413
Cash paid for income taxes 5,752 853 7,965
Supplemental Noncash Disclosures:      
Recognition of operating lease right-of-use assets 3,974 930 2,100
Recognition of operating lease liabilities 3,974 930 2,100
Loans transferred to foreclosed assets held-for-sale 10,299 164 1,362
Fair value of assets acquired in business combination, excluding cash [1] 687,522 1,547 362,070
Goodwill recorded [1] 7,313 1,129 12,800
Fair value of liabilities assumed in business combination [1] 630,181 0 345,043
Fair value of shares issued in business combination [2] $ 103,213 $ 0 $ 18,095
[1] Includes the impact of the William Penn Acquisition on April 30, 2025, the Charis Insurance Group acquisition on May 12, 2025, the Commonwealth Benefits Group acquisition on July 31, 2024, and the Brunswick acquisition on May 19, 2023. See "Note 2 - Business Combinations" to the Consolidated Financial Statement for additional information.
[2] This disclosure includes the impact of the William Penn Acquisition on April 30, 2025 and the Brunswick acquisition on May 19, 2023.