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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents due from banks $ 75,214 $ 54,789
Interest-bearing deposits with Federal Reserve 281,972 164,385
Interest-bearing deposits with other financial institutions 3,723 2,872
Total cash and cash equivalents 360,909 222,046
Debt securities available-for-sale, at fair value (amortized cost of $422,222 and $395,803, respectively) 378,965 341,955
Debt securities held-to-maturity, at amortized cost (fair value of $308,925 and $360,570, respectively) 328,152 388,968
Equity securities 10,389 9,301
Loans held for sale 768 675
Loans receivable 4,591,908 4,468,476
Less: allowance for credit losses (46,644) (45,832)
Net loans receivable 4,545,264 4,422,644
FHLB and other restricted stock holdings and investments 40,937 30,011
Premises and equipment, net 82,090 73,700
Operating lease right-of-use assets 37,419 35,699
Bank owned life insurance 116,795 114,468
Mortgage servicing rights 1,413 1,554
Goodwill and other intangibles 43,874 43,874
Core deposit intangible, net 223 280
Accrued interest receivable and other assets 67,646 67,782
Total Assets 6,014,844 5,752,957
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 841,292 728,881
Interest-bearing demand deposits 681,056 803,093
Savings 3,040,769 2,960,282
Certificates of deposit 653,832 506,494
Total deposits 5,216,949 4,998,750
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 84,495 84,267
Operating lease liabilities 39,683 37,650
Accrued interest payable and other liabilities 46,734 40,423
Total liabilities 5,408,481 5,181,710
Commitments and contingent liabilities
Preferred stock, Series A non-cumulative perpetual, $0 par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at September 30, 2024 and December 31, 2023 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,235,503 at September 30, 2024 and 21,235,503 at December 31, 2023 0 0
Additional paid in capital 219,304 220,495
Retained earnings 371,086 345,935
Treasury stock, at cost (240,773 shares at September 30, 2024 and 339,064 shares December 31, 2023) (4,516) (6,890)
Accumulated other comprehensive loss (37,296) (46,078)
Total shareholders’ equity 606,363 571,247
Total Liabilities and Shareholders’ Equity 6,014,844 5,752,957
Syndicated loans    
ASSETS    
Loans receivable 69,470 108,710
Loans    
ASSETS    
Loans receivable $ 4,522,438 $ 4,359,766