XML 11 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 23,303 $ 25,811
Short-term investments 109,612 76,871
Cash and cash equivalents 132,915 102,682
Securities available-for-sale, at fair value 272,163 212,024
Securities held-to-maturity, at amortized cost 8,689 12,635
Loans held for sale 4,168 2,632
Loans and leases receivable, net of allowance for credit losses of $29,331 and $24,230, respectively 2,734,683 2,418,836
Premises and equipment, net 6,157 4,340
Repossessed assets 61 95
Right-of-use assets, net 6,800 7,690
Bank-owned life insurance 55,123 54,018
Federal Home Loan Bank stock, at cost 13,528 17,812
Goodwill and other intangible assets 12,110 12,159
Derivatives 93,702 68,581
Accrued interest receivable and other assets 78,751 63,107
Total assets 3,418,850 2,976,611
Liabilities and Stockholders’ Equity    
Deposits 2,657,007 2,168,206
Federal Home Loan Bank advances and other borrowings 363,891 456,808
Lease liabilities 9,236 10,175
Derivatives 78,696 61,419
Accrued interest payable and other liabilities 29,262 19,363
Total liabilities 3,138,092 2,715,971
Stockholders’ equity:    
Preferred stock, $0.01 par value, 2,500,000 shares authorized, 12,500 shares of 7% non-cumulative perpetual preferred stock, Series A, outstanding at September 30, 2023 and December 31, 2022, respectively 11,992 11,992
Common stock, $0.01 par value, 25,000,000 shares authorized, 9,418,413 and 9,371,078 shares issued, 8,315,186 and 8,362,085 shares outstanding at September 30, 2023 and December 31, 2022, respectively 95 94
Additional paid-in capital 89,947 87,512
Retained earnings 223,068 203,507
Accumulated other comprehensive loss (14,234) (15,310)
Treasury stock, 1,103,227 and 1,008,993 shares at September 30, 2023 and December 31, 2022, respectively, at cost (30,110) (27,155)
Total stockholders’ equity 280,758 260,640
Total liabilities and stockholders’ equity $ 3,418,850 $ 2,976,611