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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 28,029 $ 30,017
Interest-earning deposits in other banks 92,369 23,711
Total cash and cash equivalents 120,398 53,728
Available-for-sale debt securities, at fair value, net of allowance for credit losses of $0, with an amortized cost of $536,334 at December 31, 2024 and $669,646 at December 31, 2023, respectively 477,113 597,196
Held-to-maturity debt securities, at amortized cost less allowance for credit losses of $1,156 at December 31, 2024 and $1,051 at December 31, 2023, respectively 301,359 302,442
Equity securities, at fair value 6,586 6,649
Loans, less allowance for credit losses of $25,803 at December 31, 2024 and $14,653 at December 31, 2023, respectively 2,308,418 1,276,144
Bank premises and equipment, net 24,469 14,042
Bank owned life insurance 53,319 41,572
Federal Home Loan Bank stock 10,978 7,136
Goodwill 96,828 53,777
Core deposit intangibles 9,268 0
Accrued interest receivable and other assets 113,035 80,740
Total assets 3,521,771 2,433,426
Deposits:    
Non-interest bearing 980,824 951,541
Interest bearing 1,929,953 1,090,071
Total deposits 2,910,777 2,041,612
Borrowings 133,442 80,000
Senior debt and subordinated debentures, net 69,889 69,744
Accrued interest payable and other liabilities 44,978 35,006
Total liabilities 3,159,086 2,226,362
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred stock, no par value; 10,000,000 shares authorized, none issued and outstanding 0 0
Retained earnings 209,984 210,548
Accumulated other comprehensive loss, net of tax (55,115) (66,034)
Total shareholders’ equity 362,685 207,064
Total liabilities and shareholders’ equity 3,521,771 2,433,426
Non-voting common stock    
Shareholders’ equity:    
Common stock 0 0
Common stock    
Shareholders’ equity:    
Common stock $ 207,816 $ 62,550