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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents    
Cash and due from banks $ 6,064 $ 4,820
Interest-earning deposits at Federal Reserve Bank 564,059 1,033,270
Total cash and cash equivalents 570,123 1,038,090
Investment securities, available-for-sale, at fair value, net of $10.0 million allowance for credit loss at December 31, 2023 1,502,860 747,534
Commercial loans, at fair value 223,115 332,766
Loans, net of deferred loan fees and costs 6,113,628 5,361,139
Allowance for credit losses (31,944) (27,378)
Loans, net 6,081,684 5,333,761
Stock in Federal Reserve, Federal Home Loan and Atlantic Central Bankers Banks 15,642 15,591
Premises and equipment, net 27,566 27,474
Accrued interest receivable 41,713 37,534
Intangible assets, net 1,254 1,651
Other real estate owned 62,025 16,949
Deferred tax asset, net 18,874 21,219
Other assets 182,687 133,126
Total assets 8,727,543 7,705,695
Deposits    
Demand and interest checking 7,434,212 6,630,251
Savings and money market 311,834 50,659
Total deposits 7,746,046 6,680,910
Securities sold under agreements to repurchase 0 42
Senior debt 96,214 95,859
Subordinated debentures 13,401 13,401
Other long-term borrowings 14,081 38,561
Other liabilities 68,018 69,641
Total liabilities 7,937,760 6,898,414
SHAREHOLDERS' EQUITY    
Common stock - authorized, 75,000,000 shares of $1.00 par value; 47,713,481 and 47,310,750 shares issued and outstanding, respectively, at December 31, 2024 and 53,202,630 shares issued and outstanding at December 31, 2023 47,713 53,203
Treasury stock at cost, 402,731 shares at December 31, 2024 and 0 shares at December 31, 2023, respectively (22,681)  
Additional paid-in capital 3,233 212,431
Retained earnings 779,155 561,615
Accumulated other comprehensive loss (17,637) (19,968)
Total shareholders' equity 789,783 807,281
Total liabilities and shareholders' equity $ 8,727,543 $ 7,705,695