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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
ASSETS    
Cash and due from banks $ 29,683 $ 23,476
Federal funds sold 269,646 271,906
Cash and cash equivalents 299,329 295,382
Interest bearing deposits in banks 7,718 1,739
Investment securities available-for-sale 115,590 119,889
Federal Home Loan Bank ("FHLB") stock, at par 7,737 7,174
Federal Reserve Bank ("FRB") stock, at par 7,605 6,731
Loans held for sale 8,664 2,226
Loans, net of allowance for loan losses of $17,500 and $7,400 at December 31, 2020 and 2019, respectively 1,625,812 1,450,229
Premises and equipment, net 15,139 10,529
Other real estate owned ("OREO") 429 574
Core deposit intangible 8,302 9,185
Cash surrender value of bank owned life insurance ("BOLI") policies, net 20,910 20,244
Right-of-use assets ("ROU") 12,049 15,291
Goodwill 38,838 35,466
Interest receivable and other assets 27,544 19,518
Net deferred loan fees (3,847) (451)
Total assets 2,195,666 1,994,177
LIABILITIES AND SHAREHOLDERS' EQUITY    
Noninterest and interest bearing deposits 1,838,397 1,701,183
Other borrowings 5,000  
Junior subordinated deferrable interest debentures, net 8,322 8,242
Subordinated debt, net 63,372  
Salary continuation plan 4,009 3,658
Lease liabilities 12,328 15,599
Interest payable and other liabilities 11,647 11,275
Total liabilities 1,943,075 1,739,957
Commitments and contingencies (Note 16)
Shareholders' equity    
Common stock, no par value; 100,000,000 shares authorized; 11,295,397 and 12,444,632 shares issued and outstanding at December 31, 2020 and 2019, respectively 167,242 184,043
Additional paid in capital 287 287
Accumulated other comprehensive income, net of tax 2,697 1,251
Retained earnings 82,365 68,639
Total shareholders' equity 252,591 254,220
Total liabilities and shareholders' equity $ 2,195,666 $ 1,994,177