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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 44,008 $ 63,172
Interest-bearing deposits with other banks 415,843 309,241
Cash and cash equivalents 459,851 372,413
Investment securities:    
Available for sale, at fair value (amortized cost of $159,593 and $120,832 at December 31, 2024 and 2023, respectively) 149,212 110,521
Held to maturity, net of allowance for credit losses of $203 and $94 (fair value of $424,734 and $457,830) at December 31, 2024 and 2023, respectively 481,077 513,188
Equity securities, at fair value 5,814 5,703
Restricted securities, at cost 20,253 17,900
Loans held for sale, at fair value 19,606 8,782
Loans held for investment (fair value of $9,466 and $9,944 at December 31, 2024 and 2023, respectively) 4,771,988 4,641,010
Less: allowance for credit losses (57,910) (57,351)
Loans, net 4,714,078 4,583,659
Premises and equipment, net 81,806 82,386
Goodwill 63,266 63,266
Other intangible assets, net 38,311 48,090
Mortgage servicing rights, at fair value 5,874 5,926
Right-of-use assets 11,385 12,487
Cash surrender value on life insurance 104,421 101,704
Accrued interest receivable 19,570 19,217
Deferred income taxes 31,857 40,707
Other assets 24,382 24,969
TOTAL ASSETS 6,230,763 6,010,918
Deposits:    
Noninterest-bearing 1,562,815 1,258,037
Interest-bearing checking 978,076 1,165,546
Money market and savings 1,805,884 1,777,927
Time deposits 1,181,561 1,184,610
Total deposits 5,528,336 5,386,120
FHLB advances 50,000 0
Guaranteed preferred beneficial interest in junior subordinated debentures (“TRUPS”) 29,847 29,530
Subordinated debt 43,870 43,139
Total borrowings 123,717 72,669
Lease liabilities 11,844 12,857
Other liabilities 25,800 28,137
TOTAL LIABILITIES 5,689,697 5,499,783
COMMITMENTS AND CONTINGENCIES (Note 19)
STOCKHOLDERS’ EQUITY    
Common stock, par value $0.01 per share; shares authorized 50,000,000; shares issued and outstanding 33,332,177 and 33,161,532 at December 31, 2024 and 2023, respectively 333 332
Additional paid in capital 358,112 356,007
Retained earnings 190,166 162,290
Accumulated other comprehensive loss (7,545) (7,494)
TOTAL STOCKHOLDERS’ EQUITY 541,066 511,135
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 6,230,763 $ 6,010,918