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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 63,771 $ 54,789
Interest-bearing deposits with Federal Reserve 375,009 164,385
Interest-bearing deposits with other financial institutions 4,255 2,872
Total cash and cash equivalents 443,035 222,046
Debt securities available-for-sale, at fair value (amortized cost of $520,223 as of December 31, 2024 and $395,803 as of December 31, 2023) 468,546 341,955
Debt securities held-to-maturity, at amortized cost (fair value $282,970 as of December 31, 2024 and $360,570, as of December 31, 2023) 306,081 388,968
Equity securities 10,456 9,301
Loans held for sale 762 675
Loans receivable 4,608,956 4,468,476
Less: allowance for credit losses (47,357) (45,832)
Net loans receivable 4,561,599 4,422,644
FHLB and other restricted stock holdings and investments 40,702 30,011
Premises and equipment, net 76,011 73,700
Operating & finance lease right-of-use assets 52,715 35,699
Bank owned life insurance 117,579 114,468
Mortgage servicing rights 1,251 1,554
Goodwill and other intangible assets 43,874 43,874
Core deposit intangible, net 206 280
Accrued interest receivable and other assets 69,193 67,782
Total Assets 6,192,010 5,752,957
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 819,680 728,881
Interest-bearing demand deposits 706,796 803,093
Savings 3,122,028 2,960,282
Certificates of deposit 722,860 506,494
Total deposits 5,371,364 4,998,750
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 84,570 84,267
Operating lease liabilities 40,315 37,650
Accrued interest payable and other liabilities 64,446 40,423
Total liabilities 5,581,315 5,181,710
Commitments and contingent liabilities
Preferred stock, Series A non-cumulative perpetual, No par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at December 31, 2024 and 2023 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,235,503 shares at December 31, 2024 and 2023 0 0
Additional paid in capital 219,876 220,495
Retained earnings 381,296 345,935
Treasury stock, at cost (247,511 shares at December 31, 2024 and 339,064 shares at December 31, 2023) (4,689) (6,890)
Accumulated other comprehensive loss (43,573) (46,078)
Total shareholders’ equity 610,695 571,247
Total Liabilities and Shareholders’ Equity $ 6,192,010 $ 5,752,957
Preferred stock, shares issued (in shares) 60,375 60,375
Common stock, shares issued (in shares) 21,235,503 21,235,503
Syndicated loans    
ASSETS    
Loans receivable $ 79,882 $ 108,710
Loans    
ASSETS    
Loans receivable $ 4,529,074 $ 4,359,766