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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 117,464 $ 110,491 [1]
Restricted cash 10,734 10,660 [1]
Federal funds sold 6,849 4,451 [1]
Securities available for sale, at fair value 314,394 321,081 [1]
Restricted equity investments 22,071 18,621 [1]
Other equity investments 12,863 12,905 [1]
Other investments 26,586 29,467 [1]
Loans held for sale 34,902 46,337 [1]
Loans held for investment, net of deferred fees and costs 2,394,089 2,430,947 [1]
Less allowance for loan losses (35,025) (35,893) [1]
Loans held for investment, net 2,359,064 2,395,054 [1]
Accrued interest receivable 14,696 14,967 [1]
Premises and equipment, net 21,968 22,348 [1]
Right-of-use asset 8,067 8,738 [1]
Bank owned life insurance 48,790 48,453 [1]
Other intangible assets 5,009 5,382 [1]
Mortgage servicing rights, net 27,843 27,114 [1]
Deferred tax asset, net 21,928 21,556 [1]
Other assets 22,959 19,929 [1]
Total assets 3,076,187 3,117,554 [1]
Deposits:    
Noninterest-bearing demand 496,375 506,248 [1]
Interest-bearing demand and money market 898,870 1,049,536 [1]
Savings 114,281 117,923 [1]
Time 956,250 892,325 [1]
Total deposits 2,465,776 2,566,032 [1]
FHLB borrowings 280,000 210,000 [1]
FRB borrowings 65,000 65,000 [1]
Subordinated notes, net 39,838 39,855 [1]
Lease liabilities 8,870 9,619 [1]
Other liabilities 35,797 41,059 [1]
Total liabilities 2,895,281 2,931,565 [1]
Commitments and contingencies (Note 8)
Stockholders’ Equity:    
Common stock, no par value; 50,000,000 shares authorized at March 31, 2024 and December 31, 2023; 19,584,040 and 19,198,379 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 198,004 197,636 [1]
Additional paid-in capital 252 252 [1]
Retained earnings 30,264 33,157 [1]
Accumulated other comprehensive loss, net of tax (47,614) (45,056) [1]
Total stockholders’ equity 180,906 185,989 [1]
Total liabilities and stockholders’ equity $ 3,076,187 $ 3,117,554 [1]
[1] Derived from audited December 31, 2023 Consolidated Financial Statements.