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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities:      
Net income $ 7,666 $ 25,536 $ 26,645
Adjustments to reconcile net income to net cash provided by operating activities:      
Net (increase) decrease in deferred loan costs (200) 786 (422)
Depreciation 2,206 891 755
Accretion of discounts on investment securities (1,813) (1,890) (1,520)
Amortization of premiums on investment securities 4,198 8,860 9,517
Amortization of debt issuance costs 145 145 145
Accretion of premiums and discounts on acquired loans, net (9,694) (325) (521)
Amortization of fair value marks on liabilities assumed 5,385 0 0
Stock-based compensation 879 858 776
Provision for credit losses 11,113 309 995
Net realized losses on sales and calls of AFS securities 4,199 907 1,730
Net gain on sale and disposal of equipment (7) (402) (15)
Net change in equity investments 63 (91) 858
Appreciation in cash surrender value of bank owned life insurance (1,325) (1,035) (985)
Net decrease (increase) in accrued interest receivable and other assets 1,101 (8,798) (7,361)
Net (decrease) increase in accrued interest payable and other liabilities (847) 1,666 (7,148)
(Benefit) provision for deferred income taxes (867) 110 224
Net cash provided by operating activities 22,202 27,527 23,673
Cash Flows From Investing Activities:      
Net cash and cash equivalents acquired in acquisition 58,521 0 0
Purchases of available-for-sale investment securities 0 0 (301,699)
Proceeds from sales or calls of AFS securities 64,230 26,361 252,331
Proceeds from sales or calls of HTM securities 20 35 0
Proceeds from maturity and principal repayment of AFS securities 59,947 38,229 67,795
Proceeds from principal repayments of HTM securities 1,650 2,377 1,421
Net increase in loans (113,078) (34,972) (216,002)
Purchases of premises and equipment (5,039) (9,806) (362)
Purchases of bank owned life insurance (1,450) 0 0
FHLB stock purchased (350) (967) (574)
Proceeds from sale of premises and equipment 22 3,262 15
Net cash provided by (used in) investing activities 64,473 24,519 (197,075)
Cash Flows From Financing Activities:      
Net increase (decrease) in demand, interest-bearing and savings deposits 37,000 (152,178) (1,041)
Net (decrease) increase in time deposits (14,450) 94,142 (22,107)
Proceeds from short-term borrowings from Federal Home Loan Bank 972,000 3,411,500 2,452,826
Repayments of short-term borrowings to Federal Home Loan Bank (962,000) (3,422,500) (2,406,826)
Proceeds of issuance of senior debt 0 0 30,000
Proceeds of borrowings from other financial institutions 0 116,500 0
Repayments of borrowings from other financial institutions (45,000) (71,500) 0
Purchase and retirement of common stock (38) (1) (6,814)
Proceeds from stock issued under employee stock purchase plan 248 206 216
Proceeds from exercise of stock options 465 0 489
Cash dividend payments on common stock (8,230) (5,657) (5,638)
Net cash (used in) provided by financing activities (20,005) (29,488) 41,105
Increase (decrease) in cash and cash equivalents 66,670 22,558 (132,297)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 53,728 31,170 163,467
CASH AND CASH EQUIVALENTS AT END OF YEAR 120,398 53,728 31,170
Cash paid during the year for:      
Interest 48,773 20,005 2,831
Income taxes 2,572 7,700 8,314
Operating cash flows from operating leases 3,120 2,484 2,221
Non-cash investing and financing activities:      
Unrealized gain (loss) on securities available for sale 13,227 19,193 (127,797)
Transfer of securities from AFS to HTM 0 0 332,007
Transfer of unrealized losses on securities from AFS to HTM 0 0 (25,328)
Acquisition:      
Assets acquired 1,040,939 0 0
Liabilities assumed $ (940,276) $ 0 $ 0