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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 29,495 $ 32,348
Short-term investments 128,207 107,162
Cash and cash equivalents 157,702 139,510
Securities available-for-sale, at fair value 341,392 297,006
Securities held-to-maturity, at amortized cost 6,741 8,503
Loans held for sale 13,498 4,589
Loans and leases receivable, net of allowance for credit losses of $35,785 and $31,275, respectively 3,077,343 2,818,986
Premises and equipment, net 5,227 6,190
Repossessed assets 51 247
Right-of-use assets, net 5,702 6,559
Bank-owned life insurance 57,210 55,536
Federal Home Loan Bank stock, at cost 11,616 12,042
Goodwill and other intangible assets 11,912 12,023
Derivatives 65,762 55,597
Accrued interest receivable and other assets 99,059 91,058
Total assets 3,853,215 3,507,846
Liabilities and Stockholders’ Equity    
Deposits 3,107,140 2,796,779
Federal Home Loan Bank advances and other borrowings 320,049 330,916
Lease liabilities 7,926 8,954
Derivatives 57,068 51,949
Accrued interest payable and other liabilities 32,443 29,660
Total liabilities 3,524,626 3,218,258
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, 2024 and 2023, respectively 11,992 11,992
Common stock, $0.01 par value, 25,000,000 shares authorized, 9,433,637 and 9,418,463 shares issued, 8,293,928 and 8,314,778 shares outstanding at December 31, 2024 and 2023, respectively 95 95
Additional paid-in capital 93,545 90,616
Retained earnings 265,778 230,728
Accumulated other comprehensive loss (11,425) (13,717)
Treasury stock, 1,139,709 and 1,103,685 shares at December 31, 2024 and 2023, respectively, at cost (31,396) (30,126)
Total stockholders' equity 328,589 289,588
Total liabilities and stockholders’ equity $ 3,853,215 $ 3,507,846