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 $ 6,777 $ 9,225
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for credit losses 5,137 1,813
Depreciation 132 116
Amortization and writeoff of loan servicing assets 3,037 2,640
Amortization of operating lease right of use assets 440 436
Amortization of subordinated debt issuance costs 50 38
Credit card fraud loss 4,265 0
Investment securities amortization and accretion, net (797) (368)
Stock compensation expense 1,272 1,148
Gain on sale of loans (9,334) (5,130)
Gross originations of loans held for sale (204,205) (171,804)
Proceeds from sale of loans held for sale 203,627 160,941
Income from bank owned life insurance (610) (210)
Net change in deferred income taxes (200) 32
(Decrease) increase in other assets 9,501 (3,635)
Net change in operating lease liability (375) (372)
Increase (decrease) in accrued interest payable and other liabilities (1,300) 307
Net cash used in operating activities 17,417 (4,823)
Cash flows from investing activities:    
Purchases of premises and equipment (385) (51)
Purchase of securities available for sale (51,929) (21,903)
Maturities and repayments of investment securities available for sale 6,248 5,152
Maturities and repayments of investment securities held to maturity 0 1,031
Purchase of FHLB stock (284) (861)
Net change in loans (95,312) (57,394)
Net cash used in investing activities (141,662) (74,026)
Cash flows from financing activities:    
Net increase in deposits 63,036 97,384
Net change in short-term borrowings (371) 0
Subordinated debt advances 10,509 0
Subordinated debt redemption (6,394) 0
Proceeds from repayment of stock option loans 0 548
Net proceeds from issuance of common stock 930 24
Net cash provided by financing activities 67,710 97,956
Net (decrease) increase in cash and cash equivalents (56,535) 19,107
Cash and cash equivalents beginning of period 197,864 124,122
Cash and cash equivalents end of period 141,329 143,229
Supplemental disclosures of cash flow information:    
Cash payments for interest 18,999 15,796
Cash payments for income tax 256 1,543
Supplemental schedule of noncash investing and financing activities    
Right of use asset and lease liabilities 0 1,654
Loans transferred to other real estate owned 1,262 3,400
Loans held for sale transferred to held for investment 10,256 0
Credit card fraud losses $ 4,265 $ 0

Source

10-Q XBRL Zip