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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 105,601 $ 106,143
Interest earning deposits 106,094 9,276
Federal funds sold 114,128 83,833
Total cash and cash equivalents 325,823 199,252
Securities AFS, at estimated fair value (amortized cost of $1,472,520 and $1,387,874, respectively) 1,335,560 1,299,014
Securities HTM (estimated fair value of $1,052,430 and $1,149,156, respectively) 1,307,886 1,326,729
FHLB stock, at cost 12,778 9,190
Equity investments 9,454 11,181
Loans held for sale 1,382 667
Loans:    
Loans 4,420,633 4,147,691
Less: Allowance for loan losses (41,760) (36,515)
Net loans 4,378,873 4,111,176
Premises and equipment, net 139,473 141,256
Operating lease ROU assets 14,948 15,314
Goodwill 201,116 201,116
Other intangible assets, net 3,295 4,622
Interest receivable 39,646 49,350
Deferred tax asset, net 41,221 34,695
BOLI 135,737 133,911
Other assets 25,276 21,163
Total assets 7,972,468 7,558,636
Deposits:    
Noninterest bearing 1,431,285 1,671,562
Interest bearing 4,918,286 4,526,457
Total deposits 6,349,571 6,198,019
Other borrowings 395,209 221,153
FHLB borrowings 212,829 153,358
Subordinated notes, net of unamortized debt issuance costs [1] 93,838 98,674
Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,269 60,265
Unsettled trades to purchase securities 24,917 0
Operating lease liabilities 16,797 17,070
Other liabilities 90,443 64,100
Total liabilities 7,243,873 6,812,639
Off-balance-sheet arrangements, commitments and contingencies (Note 12)
Shareholders’ equity:    
Common stock:  ($1.25 par value, 80,000,000 shares authorized, 38,029,245 shares issued at September 30, 2023 and 38,000,822 shares issued at December 31, 2022) 47,537 47,501
Paid-in capital 788,190 784,545
Retained earnings 276,312 239,610
Treasury stock: (shares at cost, 7,691,151 at September 30, 2023 and 6,454,192 at December 31, 2022) (228,467) (188,203)
AOCI (154,977) (137,456)
Total shareholders’ equity 728,595 745,997
Total liabilities and shareholders’ equity $ 7,972,468 $ 7,558,636
[1] This debt consists of subordinated notes with a remaining maturity greater than one year that qualify under the risk-based capital guidelines as Tier 2 capital, subject to certain limitations.