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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 137,105 $ 96,401
Time deposits in other financial institutions 2,316 350
Cash and cash equivalents 139,421 96,751
Equity securities, at fair value (Note 2) 9,328 7,782
Securities available for sale, at fair value (Note 2) 480,650 479,117
Securities held to maturity, at amortized cost net of credit losses (Note 2) 394,434 394,534
Federal Home Loan Bank stock 18,562 9,383
Federal Reserve Bank stock 12,357 5,307
Loans held for sale 3,941 7,288
Loans to other financial institutions (Note 3) 2,393 39,878
Core loans (Note 3) 2,922,562 1,505,762
Total loans held for investment (Note 3) 2,924,955 1,545,640
Allowance for credit losses (Note 3) (34,567) (16,552)
Loans, net 2,890,388 1,529,088
Premises and equipment, net 44,284 27,099
Other real estate owned, net 2,365 473
Cash value of life insurance policies 73,765 44,896
Goodwill 126,730 59,946
Intangible assets 35,153 1,096
Other assets 74,013 60,483
Total assets 4,305,391 2,723,243
Liabilities    
Deposits - noninterest - bearing 912,033 524,945
Deposits - interest-bearing 2,672,401 1,652,647
Brokered deposits 67,295 36,511
Total deposits 3,651,729 2,214,103
Borrowings 137,330 175,000
Subordinated debentures 48,186 35,752
Other liabilities 41,078 37,973
Total liabilities 3,878,323 2,462,828
Shareholders' Equity    
Preferred stock; shares authorized: 100,000; shares outstanding: none 0 0
Common stock and paid-in capital, no par value; shares authorized: 30,000,000; shares outstanding: 14,975,034 at March 31, 2025 and 8,965,483 at December 31, 2024 398,075 206,780
Retained earnings 73,316 91,414
Accumulated other comprehensive loss, net (44,323) (37,779)
Total shareholders’ equity 427,068 260,415
Total liabilities and shareholders’ equity $ 4,305,391 $ 2,723,243