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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
OPERATING ACTIVITIES        
Net income $ 5,320,000 $ 2,340,000 $ 16,307,000 $ 10,671,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Provision for (Recovery of) credit losses 392,000 2,234,000 (19,000) 2,185,000
Loss on premises and equipment held for sale 18,000 0 711,000 0
Gain on exchange of real estate (0) (0) (1,229,000) (0)
Loss (gain) on equity securities (17,000) (14,000) 24,000 65,000
Software amortization expense 94,000 74,000 279,000 117,000
Amortization of premium and discount on investment securities, net     416,000 421,000
Amortization of core deposit intangibles 250,000 257,000 749,000 773,000
Depreciation, Amortization and Accretion, Net     (483,000) (47,000)
Stock-based compensation, net     2,120,000 482,000
Origination of loans held for sale     (7,066,000) (5,638,000)
Proceeds from sale of loans held for sale     7,078,000 5,524,000
Loss (gain) on sale of loans held for sale [1] (158,000) (56,000) (221,000) (135,000)
Earnings on bank-owned life insurance [1] (228,000) (246,000) (951,000) (700,000)
Deferred income tax     631,000 (45,000)
Decrease (increase) in accrued interest receivable     (278,000) 265,000
Increase (decrease) in accrued interest payable     709,000 3,950,000
Other, net     (1,103,000) (3,078,000)
Net cash provided by (used in) operating activities     17,674,000 14,809,000
INVESTING ACTIVITIES        
Proceeds from repayments and maturities     11,048,000 1,871,000
Purchases     0 (1,898,000)
Purchases     (300,000) (5,000)
Decrease (increase) in loans, net     (79,497,000) (26,460,000)
Purchase of loans     (6,103,000) 0
Proceeds from bank-owned life insurance     892,000 0
Purchase of premises and equipment     (2,336,000) (368,000)
Purchase of restricted stock     (4,937,000) (723,000)
Redemption of restricted stock     6,513,000 2,691,000
Net cash provided by (used in) investing activities     (74,720,000) (24,892,000)
FINANCING ACTIVITIES        
Net increase (decrease) in deposits     176,609,000 86,167,000
Net increase (decrease) in Federal Home Loan Bank advances     (66,400,000) (57,000,000)
Repayment of other borrowings     (158,000) (151,000)
Repurchase of common shares     0 (1,055,000)
Cash dividends     (5,092,000) (4,841,000)
Net cash provided by (used in) financing activities     104,959,000 23,120,000
Increase (decrease) in cash and cash equivalents     47,913,000 13,037,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     55,792,000 60,836,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 103,705,000 $ 73,873,000 103,705,000 73,873,000
SUPPLEMENTAL INFORMATION        
Interest on deposits and borrowings     28,508,000 26,749,000
Income taxes     3,300,000 2,130,000
Noncash investing transactions:        
Exchange of real estate, net     1,229,000 0
Transfer from premises and equipment, net to premises and equipment held for sale     $ 1,016,000 $ 0
[1] Not within scope of ASC 606