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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 $ 108,721 $ 111,680
Interest-bearing deposits in other banks 108,943 315,042
Total cash and cash equivalents 217,664 426,722
Available-for-sale investment securities, at fair value (amortized cost of $1,229,382 at December 31, 2024 and $1,184,288 at December 31, 2023) [1] 1,083,555 1,048,322
Held-to-maturity investment securities, at amortized cost (fair value of $692,499 at December 31, 2024 and $612,022 at December 31, 2023) [1] 774,800 683,657
Other investment securities 60,132 63,421
Total investment securities [1] 1,918,487 1,795,400
Loans and leases, net of deferred fees and costs [2] 6,358,003 6,159,196
Allowance for credit losses (63,348) (62,011)
Net loans and leases 6,294,655 6,097,185
Loans held for sale 2,348 1,866
Bank premises and equipment, net of accumulated depreciation 103,669 103,856
Bank owned life insurance 143,710 140,554
Goodwill 363,199 362,169
Other intangible assets 39,223 50,003
Other assets 171,292 179,627
Total assets 9,254,247 9,157,382
Deposits:    
Non-interest-bearing 1,507,661 1,567,649
Interest-bearing 6,082,544 5,535,272
Total deposits 7,590,205 7,102,921
Short-term borrowings 193,474 650,497
Long-term borrowings 238,073 216,241
Accrued expenses and other liabilities 120,905 134,189
Total liabilities 8,142,657 8,103,848
Stockholders’ Equity    
Preferred shares, no par value, 50,000 shares authorized and no shares issued at December 31, 2024 and December 31, 2023 0 0
Common shares, no par value, 50,000,000 shares authorized, 36,782,601 shares issued at December 31, 2024 and 36,736,041 shares issued at December 31, 2023, including shares held in treasury 866,844 865,227
Retained earnings 388,109 327,237
Accumulated other comprehensive loss, net of deferred income taxes (110,385) (101,590)
Treasury stock, at cost, 1,311,175 common shares at December 31, 2024 and 1,511,348 common shares at December 31, 2023 (32,978) (37,340)
Total stockholders’ equity 1,111,590 1,053,534
Total liabilities and stockholders’ equity $ 9,254,247 $ 9,157,382
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, at December 31, 2024 and $0 and $238, respectively, at December 31, 2023.
[2] Also referred to throughout this Form 10-K as “total loans” and “loans held for investment.”