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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 51,178 $ 42,440
Interest-bearing deposits with Federal Reserve 153,156 684,306
Interest-bearing deposits with other financial institutions 5,462 5,452
Total cash and cash equivalents 209,796 732,198
Debt securities available-for-sale, at fair value (amortized cost of $443,516 and $698,085, respectively) 378,236 697,191
Debt securities held-to-maturity, at amortized cost (fair value $369,102 and $0, respectively) 408,209 0
Equity securities 9,235 10,366
Loans held for sale 624 849
Loans receivable 4,024,665 3,634,792
Less: allowance for credit losses (41,269) (37,588)
Net loans receivable 3,983,396 3,597,204
FHLB and other restricted stock holdings and investments 23,923 23,276
Premises and equipment, net 65,961 61,659
Operating lease right-of-use assets 28,004 19,928
Bank owned life insurance 101,974 99,719
Mortgage servicing rights 1,860 1,664
Goodwill 43,749 43,749
Core deposit intangible, net 386 460
Accrued interest receivable and other assets 61,993 40,676
Total Assets 5,317,346 5,328,939
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 867,662 792,086
Interest-bearing demand deposits 1,055,367 1,079,336
Savings 2,376,694 2,457,745
Certificates of deposit 324,088 386,452
Total deposits 4,623,811 4,715,619
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 83,888 83,661
Operating lease liabilities 29,366 21,159
Accrued interest payable and other liabilities 43,533 45,033
Total liabilities 4,801,218 4,886,092
Commitments and contingent liabilities
Preferred stock, Series A non-cumulative perpetual, $0 par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at September 30, 2022 and December 31, 2021 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,235,503 at September 30, 2022 and 16,978,057 at December 31, 2021 0 0
Additional paid in capital 221,326 127,351
Retained earnings 295,803 260,582
Treasury stock, at cost (114,919 shares at September 30, 2022 and 122,995 shares December 31, 2021) (2,975) (2,477)
Accumulated other comprehensive loss (55,811) (394)
Total shareholders’ equity 516,128 442,847
Total Liabilities and Shareholders’ Equity 5,317,346 5,328,939
PPP loans, net of deferred processing fees    
ASSETS    
Loans receivable 462 45,203
Syndicated loans    
ASSETS    
Loans receivable 152,783 125,761
Loans    
ASSETS    
Loans receivable $ 3,871,420 $ 3,463,828