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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 32,348 $ 25,811
Short-term investments 107,162 76,871
Cash and cash equivalents 139,510 102,682
Securities available-for-sale, at fair value 297,006 212,024
Securities held-to-maturity, at amortized cost 8,503 12,635
Loans held for sale 4,589 2,632
Loans and leases receivable, net of allowance for credit losses of $31,275 and $24,230, respectively 2,818,986 2,418,836
Premises and equipment, net 6,190 4,340
Repossessed assets 247 95
Right-of-use assets, net 6,559 7,690
Bank-owned life insurance 55,536 54,018
Federal Home Loan Bank stock, at cost 12,042 17,812
Goodwill and other intangible assets 12,023 12,159
Derivative Asset 55,597 68,581
Accrued interest receivable and other assets 91,058 63,107
Total assets 3,507,846 2,976,611
Liabilities and Stockholders’ Equity    
Deposits 2,796,779 2,168,206
Federal Home Loan Bank advances and other borrowings 330,916 456,808
Lease liabilities 8,954 10,175
Derivatives 51,949 61,419
Accrued interest payable and other liabilities 29,660 19,363
Total liabilities 3,218,258 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 December 31, 2023 and 2022, respectively 11,992 11,992
Common stock, $0.01 par value, 25,000,000 shares authorized, 9,418,463 and 9,371,078 shares issued, 8,314,778 and 8,362,085 shares outstanding at December 31, 2023 and 2022, respectively 95 94
Additional paid-in capital 90,616 87,512
Retained earnings 230,728 203,507
Accumulated other comprehensive loss (13,717) (15,310)
Treasury stock, 1,103,685 and 1,008,993 shares at December 31, 2023 and 2022, respectively, at cost (30,126) (27,155)
Total stockholders’ equity 289,588 260,640
Total liabilities and stockholders’ equity $ 3,507,846 $ 2,976,611