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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 58,884 $ 42,440
Interest-bearing deposits with Federal Reserve 43,401 684,306
Interest-bearing deposits with other financial institutions 4,000 5,452
Total cash and cash equivalents 106,285 732,198
Debt securities available-for-sale, at fair value (amortized cost of $432,992 as of December 31, 2022 and $698,085 as of December 31, 2021) 371,409 697,191
Debt securities held-to-maturity, at amortized cost (fair value $367,388 as of December 31, 2022 and $—, as of December 31, 2021) 404,765 0
Equity securities 9,615 10,366
Loans held for sale 231 849
Loans receivable 4,275,178 3,634,792
Less: allowance for credit losses (43,436) (37,588)
Net loans receivable 4,231,742 3,597,204
FHLB and other restricted stock holdings and investments 30,715 23,276
Premises and equipment, net 68,535 61,659
Operating lease right-of-use assets 32,307 19,928
Bank owned life insurance 111,523 99,719
Mortgage servicing rights 1,804 1,664
Goodwill 43,749 43,749
Core deposit intangible 364 460
Accrued interest receivable and other assets 62,135 40,676
Total Assets 5,475,179 5,328,939
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 898,437 792,086
Interest-bearing demand deposits 1,007,202 1,079,336
Savings 2,270,337 2,457,745
Certificates of deposit 446,461 386,452
Total deposits 4,622,437 4,715,619
Short-term borrowings 132,396 0
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 83,964 83,661
Operating lease liabilities 33,726 21,159
Accrued interest payable and other liabilities 51,274 45,033
Total liabilities 4,944,417 4,886,092
Commitments and contingent liabilities
Preferred stock, Series A non-cumulative perpetual, No par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at December 31, 2022 and 60,375 at December 31, 2021 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,121,346 shares at December 31, 2022 and 16,978,057 at December 31, 2021 0 0
Additional paid in capital 221,553 127,351
Retained earnings 306,911 260,582
Treasury stock, at cost (114,157 shares at December 31, 2022 and 122,995 shares at December 31, 2021) (2,967) (2,477)
Accumulated other comprehensive loss (52,520) (394)
Total shareholders’ equity 530,762 442,847
Total Liabilities and Shareholders’ Equity 5,475,179 5,328,939
PPP loans, net of deferred processing fees    
ASSETS    
Loans receivable 159 45,203
Syndicated loans    
ASSETS    
Loans receivable 156,649 125,761
Loans    
ASSETS    
Loans receivable $ 4,118,370 $ 3,463,828