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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks $ 33,394 $ 21,534
Interest-earning deposits with correspondent banks 82,804 88,368
Short-term investments 4,041 3,987
Mortgage loans held for sale, measured at fair value 21,953 21,708
Mortgage loans held for sale, at lower of cost or market 0 281,706
Premises and equipment held for sale, at lower of cost or market 0 4,788
Available for sale debt securities, fair value 917,545 916,305
Federal Home Loan Bank stock, at cost 38,899 49,817
Loans:    
Total loans [1] 5,096,210 5,137,838
Less: allowance for credit losses on loans 41,056 41,960
Net loans 5,055,154 5,095,878
Premises and equipment, net 26,068 26,873
Operating lease right-of-use assets 36,048 26,943
Investment in bank-owned life insurance 107,546 106,777
Goodwill 63,909 63,909
Identifiable intangible assets, net 2,682 2,885
Other assets 195,972 219,169
Total assets 6,586,015 6,930,647
Liabilities:    
Noninterest-bearing deposits 625,590 661,776
Interest-bearing deposits 4,414,991 4,454,024
Total deposits 5,040,581 5,115,800
Federal Home Loan Bank advances 850,000 1,125,000
Junior subordinated debentures 22,681 22,681
Operating lease liabilities 38,716 [2] 29,578
Other liabilities 112,357 137,860
Total liabilities 6,064,335 6,430,919
Commitments and contingencies (Note 17)
Shareholders' Equity:    
Common stock 1,223 1,223
Paid-in capital 197,570 196,947
Retained earnings 435,233 434,014
Accumulated other comprehensive income (loss) (99,179) (119,171)
Treasury stock, at cost (13,167) (13,285)
Total shareholders' equity 521,680 499,728
Total liabilities and shareholders’ equity $ 6,586,015 $ 6,930,647
[1] Includes net unamortized loan origination costs of $11.3 million and $10.9 million, respectively, at March 31, 2025 and December 31, 2024 and net unamortized premiums on loans purchased from and serviced by other financial institutions of $233 thousand and $242 thousand, respectively, at March 31, 2025 and December 31, 2024.
[2] Includes short-term operating lease liabilities of $2.9 million.