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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Cash and cash equivalents:    
Cash and due from banks $ 21,262 $ 18,430
Interest bearing balances with banks 274,561 9,572
Total cash and cash equivalents 295,823 28,002
Certificates of deposit with other banks 12,301 12,549
Investment securities available-for-sale, at fair value 297,964 235,821
Equity securities 24,164 18,514
Loans held for sale 2,271 109,788
Loans: 1,428,593 1,374,541
Less: Allowance for loan losses (25,913) (11,775)
Net Loans 1,402,680 1,362,766
Premises and equipment, net 26,176 21,974
Bank owned life insurance 36,037 35,374
Equity method investment 39,340 0
Accrued interest receivable and other assets 75,353 53,142
Assets of branches held for sale 0 46,554
Goodwill 2,350 19,630
TOTAL ASSETS 2,214,459 1,944,114
Deposits:    
Noninterest bearing 642,835 278,547
Interest bearing 1,256,122 986,495
Total deposits 1,898,957 1,265,042
Deposits of branches held for sale 0 188,270
Accrued interest payable and other liabilities 41,417 41,685
Repurchase agreements 10,045 10,172
FHLB and other borrowings 25,800 222,885
Subordinated debt 4,124 4,124
Total liabilities 1,980,343 1,732,178
STOCKHOLDERS’ EQUITY    
Preferred stock, par value $1,000; 20,000 authorized; 733 issued in 2020 and 2019, respectively 7,334 7,334
Common stock, par value $1; 20,000,000 shares authorized; 12,068,627 shares issued and 11,889,001 shares outstanding in 2020 and 11,995,366 shares issued and 11,944,289 shares outstanding in 2019 12,069 11,995
Additional paid-in capital 124,474 122,516
Retained earnings 94,496 72,496
Accumulated other comprehensive loss (1,252) (1,321)
Treasury stock; 179,626 shares in 2020 and 51,077 shares in 2019, at cost (3,005) (1,084)
Total stockholders’ equity 234,116 211,936
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,214,459 $ 1,944,114