XML 13 R2.htm IDEA: XBRL DOCUMENT v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 54,512 $ 44,008
Interest-bearing deposits with other banks 130,472 415,843
Cash and cash equivalents 184,984 459,851
Investment securities:    
Available for sale, at fair value (amortized cost of $195,389 and $159,593 at June 30, 2025 and December 31, 2024, respectively) 187,679 149,212
Held to maturity, net of allowance for credit losses of $199 and $203 (fair value of $414,699 and $424,734 at June 30, 2025 and December 31, 2024, respectively) 459,246 481,077
Equity securities, at fair value 6,010 5,814
Restricted securities, at cost 20,412 20,253
Loans held for sale, at fair value 34,319 19,606
Loans held for investment 4,827,628 4,771,988
Less: allowance for credit losses (58,483) (57,910)
Loans, net 4,769,145 4,714,078
Premises and equipment, net 81,426 81,806
Goodwill 63,266 63,266
Other intangible assets, net 33,761 38,311
Mortgage servicing rights 5,396 5,874
Right-of-use assets 11,052 11,385
Cash surrender value on life insurance 105,860 104,421
Accrued interest receivable 19,821 19,570
Deferred income taxes 30,972 31,857
Other assets 24,525 24,382
TOTAL ASSETS 6,037,874 6,230,763
Deposits:    
Noninterest-bearing 1,575,120 1,562,815
Interest-bearing checking 763,309 978,076
Money market and savings 1,691,438 1,805,884
Time deposits 1,273,285 1,181,561
Brokered deposits 10,806 0
Total deposits 5,313,958 5,528,336
FHLB advances 50,000 50,000
Guaranteed preferred beneficial interest in junior subordinated debentures (“TRUPS”), net 30,005 29,847
Subordinated debt, net 44,236 43,870
Total borrowings 124,241 123,717
Lease liabilities 11,541 11,844
Other liabilities 22,940 25,800
TOTAL LIABILITIES 5,472,680 5,689,697
COMMITMENTS AND CONTINGENCIES (Note 13)
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value per share; shares authorized 50,000,000; shares issued and outstanding 33,374,265 and 33,332,177 at June 30, 2025 and December 31, 2024, respectively 334 333
Additional paid in capital 359,063 358,112
Retained earnings 211,400 190,166
Accumulated other comprehensive loss (5,603) (7,545)
TOTAL STOCKHOLDERS’ EQUITY 565,194 541,066
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 6,037,874 $ 6,230,763