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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 96,744,000 $ 122,021,000
Interest earning deposits 307,257,000 391,719,000
Federal funds sold 65,372,000 46,770,000
Total cash and cash equivalents 469,373,000 560,510,000
Securities AFS, at estimated fair value (amortized cost of $1,454,043 and $1,332,467, respectively) 1,405,221,000 1,296,294,000
Securities HTM (estimated fair value of $1,152,186 and $1,166,162, respectively) 1,306,898,000 1,307,053,000
FHLB stock, at cost 27,958,000 11,936,000
Equity investments 9,554,000 9,691,000
Loans held for sale 756,000 10,894,000
Loans:    
Loans 4,577,368,000 4,524,510,000
Less: Allowance for loan losses (43,557,000) (42,674,000)
Net loans 4,533,811,000 4,481,836,000
Premises and equipment, net 139,491,000 138,950,000
Operating lease ROU assets 14,876,000 14,837,000
Goodwill 201,116,000 201,116,000
Other intangible assets, net 2,588,000 2,925,000
Interest receivable 39,716,000 50,489,000
Deferred tax asset, net 29,876,000 30,426,000
Unsettled trades to sell securities 6,406,000 0
BOLI 136,604,000 136,330,000
Other assets 29,619,000 31,627,000
Total assets 8,353,863,000 8,284,914,000
Deposits:    
Noninterest bearing 1,358,827,000 1,390,407,000
Interest bearing 5,186,933,000 5,159,274,000
Total deposits 6,545,760,000 6,549,681,000
Other borrowings 457,685,000 509,820,000
FHLB borrowings 312,466,000 212,648,000
Subordinated notes, net of unamortized debt issuance costs [1] 93,913,000 93,877,000
Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,271,000 60,270,000
Unsettled trades to purchase securities 7,160,000 0
Operating lease liabilities 16,744,000 16,704,000
Other liabilities 71,942,000 68,626,000
Total liabilities 7,565,941,000 7,511,626,000
Off-balance-sheet arrangements, commitments and contingencies (Note 12)
Shareholders’ equity:    
Common stock:  ($1.25 par value, 80,000,000 shares authorized, 38,050,389 shares issued at March 31, 2024 and 38,039,706 shares issued at December 31, 2023) 47,563,000 47,550,000
Paid-in capital 789,964,000 788,840,000
Retained earnings 292,879,000 282,355,000
Treasury stock: (shares at cost, 7,766,701 at March 31, 2024 and 7,790,276 at December 31, 2023) (231,625,000) (231,995,000)
AOCI (110,859,000) (113,462,000)
Total shareholders’ equity 787,922,000 773,288,000
Total liabilities and shareholders’ equity $ 8,353,863,000 $ 8,284,914,000
[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.