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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets:    
Cash and due from banks $ 63,194 $ 58,680
Interest bearing deposits 414,891 206,003
Cash and cash equivalents 478,085 264,683
Certificates of deposit in other banks 245 245
Debt securities available-for-sale at fair value (amortized cost of $725,392 and $593,945, respectively) 740,479 599,844
Debt securities held-to-maturity at amortized cost (fair value of $0 and $517, respectively) 0 517
Equity securities at fair value 2,094 1,953
Loans held for sale 28,987 1,167
Loans 3,538,770 3,248,664
Allowance for credit losses (46,634) [1] (35,096)
Net loans 3,492,136 3,213,568
Premises and equipment, net 42,810 44,046
Right-of-use asset 13,867 14,550
Federal Home Loan Bank stock 10,408 10,474
Federal Reserve Bank stock 4,887 4,887
Goodwill 65,490 65,490
Bank owned life insurance 69,945 69,269
Mortgage servicing rights 2,518 3,263
Other real estate owned 17,675 19,480
Accrued interest receivable 14,858 14,836
Other assets 38,357 37,731
Total assets 5,022,841 4,366,003
Deposits:    
Noninterest bearing 1,109,873 865,760
Interest bearing 2,862,436 2,539,812
Total deposits 3,972,309 3,405,572
Repurchase agreements 296,007 226,917
Federal funds purchased 1,000 7,906
Advances from Federal Home Loan Bank 405 415
Long-term debt 57,841 57,841
Deferred taxes 4,678 5,110
Operating lease liability 13,101 13,729
Finance lease liability 1,449 1,456
Accrued interest payable 4,508 2,839
Other liabilities 39,696 29,332
Total liabilities 4,390,994 3,751,117
Shareholders' equity:    
Preferred stock, 300,000 shares authorized and unissued 0 0
Common stock, $5 par value, shares authorized 25,000,000; shares outstanding 2020 - 17,794,598; 2019 - 17,793,165 88,973 88,966
Capital surplus 224,688 224,907
Retained earnings 307,134 296,760
Accumulated other comprehensive income, net of tax 11,052 4,253
Total shareholders' equity 631,847 614,886
Total liabilities and shareholders' equity $ 5,022,841 $ 4,366,003
[1] *Effective January 1, 2020, the allowance for loan and lease losses became the allowance for credit losses with the implementation of ASU 2016-13, commonly referred to as CECL.See notes to condensed consolidated financial statements.