XML 21 R9.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 37,453 $ 25,810 $ 30,705
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment 2,213 2,252 2,184
Net amortization of premiums on securities 146 159 209
Net accretion of discounts on loans (2,791) (2,782) (2,197)
Net accretion of deferred loan fees (1,368) (1,214) (1,097)
Amortization of servicing assets 2,080 1,764 1,883
Provision (reversal) for credit losses 4,028 3,401 (132)
Bank-owned life insurance income (1,030) (949) (753)
Deferred tax expense (benefit) (3,847) (7,979) 4,103
Share-based compensation 973 504 488
Gain on sale of loans (4,617) (3,752) (3,570)
Originations of loans held-for-sale (92,198) (73,975) (69,040)
Proceeds from sales of and principal collected on loans held-for-sale 90,935 77,878 87,422
Change in accrued interest receivable and other assets 2,180 (3,717) (934)
Change in accrued interest payable and other liabilities (7,568) 21,585 14,072
Net cash provided by operating activities 26,589 38,985 63,343
Cash flows from investing activities:      
Purchase of securities available-for-sale (31,655) (23,484) (17,271)
Proceeds from maturities, calls, and paydowns of securities available-for-sale 24,198 19,758 17,865
Proceeds from sales of and principal collected on loans held-for-sale previously classified as held-for-investment 0 676 5,074
Net increase in loans held-for-investment (189,551) (305,325) (261,352)
Purchase of loans held-for-investment 0 0 (15,741)
Purchase of Federal Home Loan Bank and other restricted stock (936) (1,326) (2,533)
Proceeds from sale of other real estate owned 0 3,039 0
Purchases of premises and equipment (2,193) (4,075) (1,315)
Investment in private equity 0 1,000 0
Net cash used in investing activities (200,137) (311,737) (275,273)
Cash flows from financing activities:      
Net increase in deposits 179,621 264,179 305,629
Net change in short-term Federal Home Loan Bank advances and other borrowings 19,000 15,000 (20,000)
Proceeds from long-term Federal Home Loan Bank advances 0 50,000 39,000
Repayment of long-term Federal Home Loan Bank advances 0 (89,000) 0
Stock options exercised 2,278 353 1,350
Restricted stock surrendered due to employee tax liability (81) (3) (2)
Stock repurchase excise tax (8) (62) 0
Repurchase of common stock (7,101) (222) (8,828)
Cash dividends paid on preferred stock (346) (772) 0
Cash dividends paid on common stock (11,465) (10,271) (9,908)
Net cash provided by financing activities 181,898 229,202 307,241
Net increase (decrease) in cash and cash equivalents 8,350 (43,550) 95,311
Cash and cash equivalents at beginning of year 198,792 242,342 147,031
Cash and cash equivalents at end of year 207,142 198,792 242,342
Supplemental disclosures of cash flow information:      
Interest paid 92,837 85,845 47,780
Income taxes paid 23,055 6,366 4,284
Supplemental disclosures of non-cash investment activities:      
Loans transferred to loans held-for-sale 0 676 0
Loans transferred to other real estate owned 0 94 593
Right-of-use assets obtained in exchange for lease obligations $ 2,958 $ 973 $ 15,317