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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 3,595 $ 17,426
Interest-bearing deposits 517,610 239,126
Total cash and cash equivalents 521,205 256,552
Total available-for-sale securities 450,827 390,384
Held-to-maturity, debt securities, after allowance for credit loss 231,928 189,168
Loans held-for-sale (includes $9,110 at fair value in 2022) 31,669 21,511
Loans 3,735,068 3,499,401
Allowance for credit losses - loans (36,452) (31,737)
Net loans 3,698,616 3,467,664
Accrued interest receivable 23,761 21,069
Federal Home Loan Bank of Indianapolis stock 28,350 28,350
Cash surrender value of bank-owned life insurance 40,619 39,859
Premises and equipment, net 74,197 72,711
Goodwill 4,687 4,687
Servicing asset, at fair value 9,579 6,255
Other real estate owned 106 0
Accrued income and other assets 53,479 44,894
Total assets 5,169,023 4,543,104
Liabilities and Shareholders’ Equity    
Noninterest-bearing deposits 125,265 175,315
Interest-bearing deposits 3,958,280 3,265,930
Total deposits 4,083,545 3,441,245
Advances from Federal Home Loan Bank 614,933 614,928
Subordinated debt, net of unamortized debt issuance costs of $2,239 and $2,468 in 2023 and 2022, respectively 104,761 104,532
Accrued interest payable 2,968 2,913
Accrued expenses and other liabilities 15,072 14,512
Total liabilities 4,821,279 4,178,130
Commitments and Contingencies
Shareholders’ Equity    
Preferred stock, no par value; 4,913,779 shares authorized; issued and outstanding - none 0 0
Retained earnings 203,856 205,675
Accumulated other comprehensive loss (41,197) (33,636)
Total shareholders’ equity 347,744 364,974
Total liabilities and shareholders’ equity 5,169,023 4,543,104
Voting Common Stock    
Shareholders’ Equity    
Common stock 185,085 192,935
Nonvoting Common Stock    
Shareholders’ Equity    
Common stock $ 0 $ 0