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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 51,026 $ 32,586
Interest-bearing deposits with banks 197,848 32,575
Cash and cash equivalents 248,874 65,161
Restricted investments in bank stocks 20,232 11,992
Securities available-for-sale (amortized cost of $864,920 and $549,089 at December 31, 2024 and 2023, respectively) 829,711 513,519
Loans held for sale, at fair value 6,614 5,816
Loans 3,931,214 2,298,313
Less: Allowance for credit losses (48,689) (28,702)
Net loans 3,882,525 2,269,611
Premises and equipment, net 50,217 29,393
Cash surrender value of life insurance 143,854 73,204
Goodwill 68,106 18,724
Other intangible assets, net 47,765 2,414
Accrued interest receivable 21,058 13,630
Deferred tax assets, net 42,647 22,017
Other assets 79,986 38,759
Total assets 5,441,589 3,064,240
Deposits:    
Noninterest-bearing 894,176 430,959
Interest-bearing 3,728,920 2,127,855
Total deposits 4,623,096 2,558,814
Securities sold under agreements to repurchase and federal funds purchased 25,863 9,785
FHLB advances and other borrowings 115,364 137,500
Subordinated notes and trust preferred debt 68,680 32,093
Other liabilities 91,904 60,992
Total liabilities 4,924,907 2,799,184
Shareholders’ Equity    
Preferred stock, $1.25 par value per share; 500,000 shares authorized; no shares issued or outstanding 0 0
Common stock, no par value—$0.05205 stated value per share 50,000,000 shares authorized; 19,722,640 shares issued and 19,389,967 outstanding at December 31, 2024; 11,204,599 shares issued and 10,612,390 outstanding at December 31, 2023 1,027 583
Additional paid—in capital 423,274 189,027
Retained earnings 126,540 117,667
Accumulated other comprehensive loss (26,316) (28,476)
Treasury stock— 332,673 and 592,209 shares, at cost, at December 31, 2024 and 2023, respectively (7,843) (13,745)
Total shareholders’ equity 516,682 265,056
Total liabilities and shareholders’ equity $ 5,441,589 $ 3,064,240