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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 73,319 $ 75,998
Interest-earning deposits with other banks 95,815 252,846
Cash and cash equivalents 169,134 328,844
Investment securities held-to-maturity (fair value $114,427 and $115,007 at March 31, 2025 and December 31, 2024, respectively) 130,889 134,111
Investment securities available-for-sale (amortized cost $402,633 and $402,651, net of allowance for credit losses of $746 and $839 at March 31, 2025 and December 31, 2024, respectively) 364,503 357,361
Investments in equity securities 1,667 2,506
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost 35,732 38,980
Loans held for sale 13,150 16,653
Loans and leases held for investment 6,833,037 6,826,583
Less: Allowance for credit losses, loans and leases (87,790) (87,091)
Net loans and leases held for investment 6,745,247 6,739,492
Premises and equipment, net 47,175 46,671
Operating lease right-of-use assets 27,182 28,531
Goodwill 175,510 175,510
Other intangibles, net of accumulated amortization 8,061 8,309
Bank owned life insurance 139,482 139,351
Accrued interest receivable and other assets 117,435 112,098
Total assets 7,975,167 8,128,417
LIABILITIES    
Noninterest-bearing deposits 1,433,995 1,414,635
Interest-bearing deposits 5,224,503 5,344,624
Total 6,658,498 6,759,259
Short-term borrowings 4,031 11,181
Long-term debt 175,000 225,000
Subordinated notes 149,386 149,261
Operating lease liabilities 30,062 31,485
Accrued interest payable and other liabilities 54,718 64,930
Total liabilities 7,071,695 7,241,116
SHAREHOLDERS’ EQUITY    
Common stock, $5 par value: 48,000,000 shares authorized at March 31, 2025 and December 31, 2024; 31,556,799 shares issued at March 31, 2025 and December 31, 2024; 28,962,648 and 29,045,877 shares outstanding at March 31, 2025 and December 31, 2024, respectively 157,784 157,784
Additional paid-in capital 300,634 302,829
Retained earnings 541,776 525,780
Accumulated other comprehensive loss, net of tax benefit (37,922) (43,992)
Treasury stock, at cost; 2,594,151 and 2,510,922 shares at March 31, 2025 and December 31, 2024, respectively (58,800) (55,100)
Total shareholders’ equity 903,472 887,301
Total liabilities and shareholders’ equity $ 7,975,167 $ 8,128,417