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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 238,573 $ 77,274 [1]
Federal funds sold 2,584 1,426 [1]
Securities available for sale, at fair value 313,930 354,341 [1]
Restricted equity investments 16,006 21,257 [1]
Other equity investments 22,061 23,776 [1]
Other investments 28,453 24,672 [1]
Loans held for sale 69,640 69,534 [1]
Paycheck Protection Program loans, net of deferred fees and costs 6,414 11,967 [1]
Loans held for investment, net of deferred fees and costs 2,439,956 2,399,092 [1]
Less: allowance for credit losses (49,631) (30,740) [1]
Loans held for investment, net 2,390,325 2,368,352 [1]
Accrued interest receivable 16,387 11,569 [1]
Other real estate owned 0 195 [1]
Premises and equipment, net 22,506 23,152 [1]
Right-of-use assets 9,100 6,903 [1]
Bank owned life insurance 48,136 47,245 [1]
Goodwill 0 26,826 [1]
Other intangible assets 5,520 6,583 [1]
Mortgage servicing rights, net 29,139 28,991 [1]
Deferred tax asset, net 13,237 12,227 [1]
Other assets 30,702 14,175 [1]
Total assets 3,262,713 3,130,465 [1]
Deposits:    
Noninterest-bearing demand 572,969 640,101 [1]
Interest-bearing demand and money market deposits 1,350,601 1,318,799 [1]
Savings 124,321 151,646 [1]
Time deposits 728,260 391,961 [1]
Total deposits 2,776,151 2,502,507 [1]
FHLB borrowings 150,000 311,700 [1]
FRB borrowings 65,000 51 [1]
Subordinated notes, net 39,871 39,920 [1]
Lease liabilities 10,015 7,860 [1]
Other liabilities 38,839 19,634 [1]
Total liabilities 3,079,876 2,881,672 [1]
Commitments and contingencies (Note 12)
Stockholders’ Equity:    
Common stock, no par value; 50,000,000 shares authorized at September 30, 2023 and December 31, 2022; 19,192,471 and 18,950,329 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 197,445 195,960 [1]
Additional paid-in capital 252 252 [1]
Retained earnings 38,916 97,682 [1]
Accumulated other comprehensive loss, net of tax (53,776) (45,101) [1]
Total stockholders’ equity 182,837 248,793 [1]
Total liabilities and stockholders’ equity $ 3,262,713 $ 3,130,465 [1]
[1] Derived from audited December 31, 2022 Consolidated Financial Statements.