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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 431,373 $ 83,548
Interest-earning deposits in other financial institutions 600 600
Securities:    
Available for sale 318,961 256,830
Held to maturity (fair value of $5,097 and $5,563 at December 31, 2023 and December 31, 2022) 5,209 5,729
Mortgage loans held for sale 1,911 0
Loans held for investment 3,031,319 3,336,970
Unaccreted discount on acquired loans (970) (1,238)
Deferred loan costs, net 1,512 717
Total loans, net of deferred loan costs and unaccreted discounts on acquired loans [1] 3,031,861 3,336,449
Allowance for loan losses (41,903) (41,076)
Total loans held for investment, net 2,989,958 3,295,373
Premises and equipment, net 25,684 27,009
Federal Home Loan Bank (FHLB) stock 15,000 15,000
Net deferred tax assets 15,765 16,977
Cash surrender value of bank owned life insurance (BOLI) 58,719 57,310
Goodwill 71,498 71,498
Servicing assets 8,110 9,521
Core deposit intangibles 2,795 3,718
Right-of-use assets - operating leases 29,803 25,447
Accrued interest and other assets 50,639 50,498
Total assets 4,026,025 3,919,058
Deposits:    
Noninterest-bearing demand 539,621 798,741
Savings, NOW and money market accounts 632,729 615,339
Time deposits $250,000 and under 1,190,821 837,369
Time deposits over $250,000 811,589 726,234
Total deposits 3,174,760 2,977,683
Reserve for unfunded commitments 640 1,157
FHLB advances 150,000 220,000
Long-term debt, net of issuance costs 119,147 173,585
Subordinated debentures (net of unamortized valuation reserve of $2,589 and $2,807 at December 31, 2023 and December 31, 2022) 14,938 14,720
Lease liabilities - operating leases 31,191 26,523
Accrued interest and other liabilities 24,089 20,827
Total liabilities 3,514,765 3,434,495
Commitments and contingencies - Note 13
Shareholders' equity:    
Preferred Stock - 100,000,000 shares authorized, no par value; none outstanding 0 0
Common Stock - 100,000,000 shares authorized, no par value; 18,609,179 shares issued and outstanding at December 31, 2023 and 18,965,776 shares issues and outstanding at December 31, 2022 271,925 276,912
Additional paid-in capital 3,623 3,361
Retained earnings 255,152 225,883
Non-controlling interest 72 72
Accumulated other comprehensive loss, net (19,512) (21,665)
Total shareholders’ equity 511,260 484,563
Total liabilities and shareholders’ equity $ 4,026,025 $ 3,919,058
[1] net of discounts and deferred fees and costs