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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Cash and cash equivalents:    
Cash and due from banks $ 111,680 $ 94,679
Interest-bearing deposits in other banks 315,042 59,343
Total cash and cash equivalents 426,722 154,022
Available-for-sale investment securities, at fair value (amortized cost of $1,184,288 at December 31, 2023 and $1,300,719 at December 31, 2022) [1] 1,048,322 1,131,399
Held-to-maturity investment securities, at amortized cost (fair value of $612,022 at December 31, 2023 and $478,509 at December 31, 2022) [1] 683,657 560,212
Other investment securities 63,421 51,609
Total investment securities [1] 1,795,400 1,743,220
Loans and leases, net of deferred fees and costs [2] 6,159,196 4,707,150
Allowance for credit losses (62,011) (53,162)
Net loans and leases 6,097,185 4,653,988
Loans held for sale 1,866 2,140
Bank premises and equipment, net of accumulated depreciation 103,856 82,934
Bank owned life insurance 140,554 105,292
Goodwill 362,169 292,397
Other intangible assets 50,003 33,932
Other assets 179,627 139,379
Total assets 9,157,382 7,207,304
Deposits:    
Non-interest-bearing 1,567,649 1,589,402
Interest-bearing 5,584,648 4,127,539
Total deposits 7,152,297 5,716,941
Short-term borrowings 601,121 500,138
Long-term borrowings 216,241 101,093
Accrued expenses and other liabilities 134,189 103,804
Total liabilities 8,103,848 6,421,976
Stockholders’ Equity    
Preferred shares, no par value, 50,000 shares authorized and no shares issued at December 31, 2023 and December 31, 2022 0 0
Common shares, no par value, 50,000,000 shares authorized, 36,736,041 shares issued at December 31, 2023 and 29,857,920 shares issued at December 31, 2022, including shares held in treasury 865,227 686,450
Retained earnings 327,237 265,936
Accumulated other comprehensive loss, net of deferred income taxes (101,590) (127,136)
Treasury stock, at cost, 1,511,348 common shares at December 31, 2023 and 1,643,461 common shares at December 31, 2022 (37,340) (39,922)
Total stockholders’ equity 1,053,534 785,328
Total liabilities and stockholders’ equity $ 9,157,382 $ 7,207,304
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $238, respectively, at December 31, 2023 and $0 and $241, respectively, at December 31, 2022.
[2] Also referred to throughout this Form 10-K as “total loans” and “loans held for investment.”