0001035092-26-000030
SEC filingNet income rose to $17.1M, driven by higher net interest income and lower provision for credit losses, while free cash flow reached $30.5M.
Net cash provided by operating activities totaled $31.6 million, up from $19.8 million in the prior year quarter, driven by higher net income and favorable changes in working capital. Capital expenditures were $1.1 million, resulting in free cash flow of $30.5 million. The company maintains a strong liquidity position, with management believing that current cash, access to funding sources, and maturing investments are sufficient to meet liquidity needs.
Management anticipates that ongoing expense management and technology investments will lead to continued improvements in operating leverage over time. The company considers the impact of asset growth, loan concentrations, income accretion, dividends, and stress testing in its capital planning.