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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Cash and due from banks $ 47,895 $ 51,259
Interest-bearing deposits at other financial institutions 237,003 320,805
Total cash and cash equivalents 284,898 372,064
Securities 234,014 231,262
Equity investments 16,807 16,710
Loans held for sale 882 1,463
Loans, net of allowance for credit losses of $31,194 and $25,280 at March 31, 2020 and December 31, 2019, respectively 2,640,393 2,613,805
Premises and equipment, net of accumulated depreciation of $33,665 and $32,923 at March 31, 2020 and December 31, 2019, respectively 50,243 50,875
Goodwill 80,950 80,950
Other intangible assets, net of accumulated amortization of $16,020 and $15,809 at March 31, 2020 and December 31, 2019, respectively 4,700 4,938
Bank-owned life insurance 72,297 71,881
Operating lease right-to-use asset 12,577 12,926
Deferred tax asset, net 7,026 7,432
Other assets 20,863 14,238
Total assets 3,425,650 3,478,544
Liabilities    
Noninterest-bearing deposits 1,195,541 1,184,861
Interest-bearing deposits 1,596,692 1,667,527
Total deposits 2,792,233 2,852,388
Federal Home Loan Bank advances 50,000 50,000
Repurchase agreements 1,415 485
Operating lease liabilities 15,356 15,704
Other liabilities 29,772 24,246
Total liabilities 2,888,776 2,942,823
Commitments and contingencies (Note 16)
Shareholders’ equity    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued
Common stock, $0.01 par value, 90,000,000 shares authorized, 25,601,835 and 25,837,048 shares issued at March 31, 2020 and December 31, 2019, respectively, 24,746,013 and 24,979,702 shares outstanding at March 31, 2020 and December 31, 2019, respectively 256 258
Additional paid-in capital 341,713 346,559
Retained earnings 203,080 201,080
Treasury stock, at cost, 855,822 and 857,346 shares held at March 31, 2020 and December 31, 2019, respectively (14,536) (14,562)
Accumulated other comprehensive gain, net of tax of $1,058 and $634 at March 31, 2020 and December 31, 2019, respectively 6,361 2,386
Total shareholders’ equity 536,874 535,721
Total liabilities and shareholders’ equity $ 3,425,650 $ 3,478,544