XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 46,886 $ 44,008
Interest-bearing deposits with other banks 342,120 415,843
Cash and cash equivalents 389,006 459,851
Investment securities:    
Available for sale, at fair value (amortized cost of $187,862 and $159,593 at March 31, 2025 and December 31, 2024, respectively) 179,148 149,212
Held to maturity, net of allowance for credit losses of $178 and $203 (fair value of $421,428 and $424,734 at March 31, 2025 and December 31, 2024, respectively) 469,572 481,077
Equity securities, at fair value 5,945 5,814
Restricted securities, at cost 20,411 20,253
Loans held for sale, at fair value 15,717 19,606
Loans held for investment 4,777,489 4,771,988
Less: allowance for credit losses (58,042) (57,910)
Loans, net 4,719,447 4,714,078
Premises and equipment, net 81,692 81,806
Goodwill 63,266 63,266
Other intangible assets, net 36,033 38,311
Mortgage servicing rights, at fair value 5,535 5,874
Right-of-use assets 11,709 11,385
Cash surrender value on life insurance 105,040 104,421
Accrued interest receivable 20,555 19,570
Deferred income taxes 31,428 31,857
Other assets 22,059 24,382
TOTAL ASSETS 6,176,563 6,230,763
Deposits:    
Noninterest-bearing 1,565,017 1,562,815
Interest-bearing checking 852,480 978,076
Money market and savings 1,800,529 1,805,884
Time deposits 1,242,319 1,181,561
Total deposits 5,460,345 5,528,336
FHLB advances 50,000 50,000
Guaranteed preferred beneficial interest in junior subordinated debentures (“TRUPS”), net 29,926 29,847
Subordinated debt, net 44,053 43,870
Total borrowings 123,979 123,717
Lease liabilities 12,183 11,844
Other liabilities 27,586 25,800
TOTAL LIABILITIES 5,624,093 5,689,697
COMMITMENTS AND CONTINGENCIES (Note 13)
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value per share; shares authorized 50,000,000; shares issued and outstanding 33,374,265 and 33,332,177 at March 31, 2025 and December 31, 2024, respectively 333 333
Additional paid in capital 358,572 358,112
Retained earnings 199,898 190,166
Accumulated other comprehensive loss (6,333) (7,545)
TOTAL STOCKHOLDERS’ EQUITY 552,470 541,066
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 6,176,563 $ 6,230,763