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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 6,145 $ 9,249
Interest-bearing demand deposits 450,632 457,161
Total cash and cash equivalents 456,777 466,410
Securities available-for-sale - at fair value (amortized cost of $802,422 and $626,854 in 2025 and 2024, respectively) 778,687 587,355
Securities held-to-maturity - at amortized cost, net of allowance for credit losses of $0.1 million and $0.2 million in 2025 and 2024, respectively (fair value of $238,815 and $228,851 in 2025 and 2024, respectively) 250,609 249,796
Loans held-for-sale 108,608 54,695
Loans 3,746,728 4,170,646
Allowance for credit losses - loans (55,686) (44,769)
Net loans 3,691,042 4,125,877
Accrued interest receivable 27,909 28,180
Federal Home Loan Bank of Indianapolis stock 28,350 28,350
Cash surrender value of bank-owned life insurance 42,559 41,394
Premises and equipment, net 67,934 71,453
Goodwill 4,687 4,687
Servicing asset, at fair value 22,793 16,389
Other real estate owned 2,631 272
Accrued income and other assets 89,061 63,001
Total assets 5,571,647 5,737,859
Liabilities    
Noninterest-bearing deposits 146,879 136,451
Interest-bearing deposits 4,692,934 4,796,755
Total deposits 4,839,813 4,933,206
Advances from Federal Home Loan Bank 249,500 295,000
Subordinated debt, net of unamortized discount and debt issuance costs of $1,535 and $1,850 in 2025 and 2024, respectively 105,465 105,150
Accrued interest payable 1,744 2,495
Accrued expenses and other liabilities 15,358 17,945
Total liabilities 5,211,880 5,353,796
Commitments and contingencies
Shareholders’ equity    
Preferred stock, no par value; 4,913,779 shares authorized; issued and outstanding - none 0 0
Retained earnings 193,320 230,622
Accumulated other comprehensive loss, net of tax (20,130) (32,653)
Total shareholders’ equity 359,767 384,063
Total liabilities and shareholders’ equity 5,571,647 5,737,859
Voting Common Stock    
Shareholders’ equity    
Common stock 186,577 186,094
Nonvoting Common Stock    
Shareholders’ equity    
Common stock $ 0 $ 0