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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 49,722,000 $ 41,592,000
Other investments and interest-bearing deposits in other financial institutions 906,588,000 366,537,000
Total cash and cash equivalents 956,310,000 408,129,000
Securities available-for-sale, at fair value 237,612,000 442,636,000
Securities held-to-maturity, at amortized cost, net of allowance for credit losses of $12 (fair value of $531,533 and $564,127, respectively) 604,193,000 650,565,000
Loans held-for-sale - SBA, at lower of cost or fair value, including deferred costs 1,649,000 2,205,000
Loans, net of deferred fees 3,410,236,000 3,350,378,000
Allowance for credit losses on loans (47,819,000) (47,958,000)
Loans, net 3,362,417,000 3,302,420,000
Federal Home Loan Bank ("FHLB"), Federal Reserve Bank ("FRB") stock and other investments, at cost 32,553,000 32,540,000
Company-owned life insurance 80,682,000 79,489,000
Premises and equipment, net 10,398,000 9,857,000
Goodwill 167,631,000 167,631,000
Other intangible assets 6,966,000 8,627,000
Accrued interest receivable and other assets 91,185,000 89,996,000
Total assets 5,551,596,000 5,194,095,000
Deposits:    
Demand, noninterest-bearing 1,272,139,000 1,292,486,000
Demand, interest-bearing 913,910,000 914,066,000
Savings and money market 1,309,676,000 1,087,518,000
Time deposits - under $250 39,060,000 38,055,000
Time deposits - $250 and over 196,945,000 192,228,000
Insured Cash Sweep ("ICS")/Certificates of Deposit Account Registry Service ("CDARS") - interest-bearing demand, money market and time deposits 997,803,000 854,105,000
Total deposits 4,729,533,000 4,378,458,000
Subordinated debt, net of issuance costs 39,615,000 39,502,000
Accrued interest payable and other liabilities 97,096,000 103,234,000
Total liabilities 4,866,244,000 4,521,194,000
Shareholders' equity:    
Preferred stock, no par value; 10,000,000 shares authorized; none issued and outstanding at September 30, 2024 and December 31, 2023
Common stock, no par value; 100,000,000 shares authorized; 61,297,344 and 61,146,835 shares issued and outstanding, respectively 509,134,000 506,539,000
Retained earnings 185,110,000 179,092,000
Accumulated other comprehensive loss (8,892,000) (12,730,000)
Total shareholders' equity 685,352,000 672,901,000
Total liabilities and shareholders' equity $ 5,551,596,000 $ 5,194,095,000