XML 12 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 $ 80,441 $ 60,471
Federal funds and interest-bearing balances 358,800 327,691
Total cash and cash equivalents 439,241 388,162
Debt securities available-for-sale, at fair value (amortized cost of $137,855 and $151,429 at March 31, 2025 and December 31, 2024) 131,593 142,001
Debt securities held-to-maturity, at amortized cost (fair value of $47,329 and $47,823 at March 31, 2025 and December 31, 2024) 53,194 53,280
Loans held for sale, at lower of cost or fair value 4,625 17,180
Loans held for investment 3,068,774 3,139,165
Allowance for credit losses on loans (45,839) (50,540)
Loans held for investment, net 3,022,935 3,088,625
Restricted stock, at cost 30,845 30,829
Premises and equipment, net 13,154 13,595
Right-of-use asset 13,384 14,350
Other real estate owned, net 4,083 4,083
Goodwill 111,780 111,787
Intangible assets, net 21,323 22,271
Bank owned life insurance 66,867 66,636
Deferred taxes, net 36,473 43,127
Accrued interest receivable and other assets 33,593 35,728
Total assets 3,983,090 4,031,654
LIABILITIES    
Noninterest-bearing demand 1,292,689 1,257,007
Interest-bearing NOW accounts 674,460 673,589
Money market and savings accounts 1,192,960 1,182,927
Time deposits 182,394 285,237
Total deposits 3,342,503 3,398,760
Borrowings 70,308 69,725
Operating lease liability 17,142 18,310
Accrued interest payable and other liabilities 21,753 33,023
Total liabilities 3,451,706 3,519,818
Commitments and contingencies
SHAREHOLDERS’ EQUITY    
Preferred stock - 50,000,000 shares authorized, no par value; no shares issued and outstanding at March 31, 2025 and December 31, 2024 0 0
Common stock - 50,000,000 shares authorized, no par value; issued and outstanding 32,402,140 and 32,265,935 at March 31, 2025 and December 31, 2024 442,934 442,469
Retained earnings 92,861 76,008
Accumulated other comprehensive loss - net of taxes (4,411) (6,641)
Total shareholders’ equity 531,384 511,836
Total liabilities and shareholders’ equity $ 3,983,090 $ 4,031,654