0001437749-26-015758
SEC filingNet income surged 140.7% to $3.1 million, driven by higher interest income on loans and securities.
Net cash provided by operating activities was $2.8 million for the three months ended March 31, 2026, compared to net cash used of $631,000 in the prior year period. Capital expenditures were $4,000, down from $18,000 in Q1 2025. Free cash flow, defined as operating cash flow less capital expenditures, was $2.8 million.
Credit losses are charged against the allowance when management's assessments confirm that the company will not collect the full amortized cost basis of a loan. Management's judgment is required for the selection and application of factors derived from historical loss experience and assumptions surrounding expected future losses and economic forecasts.
Based on deposit retention experience and current pricing strategy, management anticipates that a significant portion of maturing time deposits will be retained. The company continues to monitor its liquidity position and adjust the balance between sources and uses of funds as deemed appropriate.