XML 12 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash $ 14,303 $ 18,778
Interest-bearing deposits 285,522 260,441
Cash and cash equivalents 299,825 279,219
Certificates of deposit in other banks 25,806 28,538
Debt securities available for sale, at fair value (amortized cost of $151,356 and $154,199 at March 31, 2025 and December 31, 2024, respectively) 150,577 152,011
FHLB and FRB stock 13,602 13,630
SBIC investments 17,746 15,117
Loans held for sale, at fair value 2,175 4,144
Loans held for sale, at the lower of cost or fair value 151,164 202,018
Loans, net of deferred loan fees and costs 3,648,609 3,648,299
Allowance for credit losses - loans (44,742) (45,285)
Loans, net 3,603,867 3,603,014
Premises and equipment, at the lower of cost or fair value 8,240 616
Premises and equipment, net 62,347 69,872
Accrued interest receivable 18,269 18,336
Deferred income taxes, net 9,288 10,735
BOLI 91,715 90,868
Goodwill 34,111 34,111
Core deposit intangibles, net 6,080 6,595
Other assets 63,248 66,606
Total assets 4,558,060 4,595,430
Liabilities    
Deposits 3,736,360 3,779,203
Junior subordinated debt 10,145 10,120
Borrowings 177,000 188,000
Other liabilities 69,106 66,349
Total liabilities 3,992,611 4,043,672
Stockholders' equity    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding 0 0
Common stock, $0.01 par value, 60,000,000 shares authorized, 17,552,626 shares issued and outstanding at March 31, 2025; 17,527,709 at December 31, 2024 176 175
Additional paid in capital 176,682 176,693
Retained earnings 393,026 380,541
Unearned ESOP shares (3,835) (3,966)
Accumulated other comprehensive loss (600) (1,685)
Total stockholders' equity 565,449 551,758
Total liabilities and stockholders' equity $ 4,558,060 $ 4,595,430