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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Cash and due from banks $ 173,533 $ 110,491
Restricted cash 2,459 10,660
Federal funds sold 838 4,451
Securities available for sale, at fair value 312,035 321,081
Restricted equity investments 19,275 18,621
Other equity investments 4,834 12,905
Other investments 19,405 29,467
Loans held for sale 30,976 46,337
Loans held for investment, net of deferred fees and costs 2,111,797 2,430,947
Less: allowance for credit losses (23,023) (35,893)
Loans held for investment, net 2,088,774 2,395,054
Accrued interest receivable 12,537 14,967
Premises and equipment, net 21,394 22,348
Right-of-use asset 7,962 8,738
Bank owned life insurance 1,083 48,453
Other intangible assets 3,859 5,382
Mortgage servicing rights 386 27,114
Deferred tax asset, net 27,312 21,556
Other assets 10,598 19,929
Total assets 2,737,260 3,117,554
Deposits:    
Noninterest-bearing demand 452,690 506,248
Interest-bearing demand and money market 598,875 1,049,536
Savings 100,857 117,923
Time 1,027,020 892,325
Total deposits 2,179,442 2,566,032
FHLB borrowings 150,000 210,000
FRB borrowings 0 65,000
Subordinated notes, net 39,789 39,855
Lease liability 8,613 9,619
Other liabilities 31,628 41,059
Total liabilities 2,409,472 2,931,565
Commitments and contingencies (Note 20)
Stockholders’ Equity:    
Common stock, no par value; 150,000,000 and 50,000,000 shares authorized at December 31, 2024 and December 31, 2023, respectively; 84,972,610 and 19,198,379 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively 322,791 197,636
Additional paid-in capital 29,687 252
Retained earnings 17,772 33,157
Accumulated other comprehensive loss, net of tax (42,462) (45,056)
Total stockholders’ equity 327,788 185,989
Total liabilities and stockholders’ equity $ 2,737,260 $ 3,117,554