XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Balance Sheets - (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 212,175 $ 291,598
Federal funds sold 10,947 53,084
Cash and cash equivalents 223,122 344,682
Investment securities    
Marketable equity securities, at fair value 1,973 2,168
Available for sale investment securities, at fair value 95,095 90,198
Held to maturity investment securities, at amortized cost (fair values of $14,641 and $18,445 at September 30, 2022 and December 31, 2021, respectively) 16,027 16,043
Total investment securities 113,095 108,409
Loans receivable (net of allowance for loan losses of $18,167 at September 30, 2022 and $16,902 at December 31, 2021) 2,263,432 1,875,167
Accrued interest receivable 9,552 7,512
Federal Home Loan Bank stock, at cost 5,039 2,814
Premises and equipment, net 27,510 25,588
Bank-owned life insurance 49,970 49,174
Goodwill 2,589 2,589
Deferred income taxes, net 5,952 7,621
Other assets 22,734 32,708
Total assets 2,722,995 2,456,264
Deposits    
Noninterest bearing deposits 380,365 398,956
Interest bearing deposits 1,906,337 1,725,042
Total deposits 2,286,702 2,123,998
Advances from the Federal Home Loan Bank 90,000 50,000
Subordinated debentures (face value of $70,000 and $35,000 at September 30, 2022 and December 31, 2021, respectively, less unamortized debt issuance costs of $1,103 and $559 at September 30, 2022 and December 31, 2021, respectively) 68,897 34,441
Accrued expenses and other liabilities 45,896 45,838
Total liabilities 2,491,495 2,254,277
Commitments and contingencies
Shareholders' equity    
Common stock, no par value; 10,000,000 shares authorized, 7,711,843 and 7,803,166 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 114,548 118,148
Retained earnings 117,152 92,400
Accumulated other comprehensive loss (200) (8,561)
Total shareholders' equity 231,500 201,987
Total liabilities and shareholders' equity $ 2,722,995 $ 2,456,264