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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
ASSETS    
Cash and due from banks $ 41,928 $ 35,685
Interest bearing deposits with banks 126,391 36,788
Cash and cash equivalents 168,319 72,473
Investment securities available for sale, at fair value 539,042 321,014
Investment securities held to maturity, at amortized cost (fair value of $653,109 and $747,323, respectively) 644,842 761,563
Restricted stock, at cost 2,746 5,754
Mortgage loans held for sale, at fair value 10,345 20,887
Other loans held for sale 3,004 5,404
Loans receivable (net of allowance for credit losses of $9,266 and $8,615, respectively) 1,738,929 1,427,983
Premises and equipment, net 116,956 87,661
Other real estate owned, net 1,730 6,223
Accrued interest receivable 9,934 9,025
Operating lease right-of-use asset 64,805
Goodwill 5,011 5,011
Other assets 35,627 30,299
Total Assets 3,341,290 2,753,297
Deposits    
Demand - non-interest bearing 661,431 519,056
Demand - interest bearing 1,352,360 1,042,561
Money market and savings 761,793 676,993
Time deposits 223,579 154,257
Total Deposits 2,999,163 2,392,867
Short-term borrowings 91,422
Accrued interest payable 1,630 558
Other liabilities 11,208 12,002
Operating lease liability 68,856
Subordinated debt 11,265 11,259
Total Liabilities 3,092,122 2,508,108
Shareholders’ Equity    
Preferred stock, par value $0.01 per share: 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, par value $0.01 per share: 100,000,000 shares authorized; shares issued 59,371,623 as of December 31, 2019 and 59,318,073 as of December 31, 2018; shares outstanding 58,842,778 as of December 31, 2019 and 58,789,228 as of December 31, 2018 594 593
Additional paid in capital 272,039 269,147
Accumulated deficit (12,216) (8,716)
Treasury stock at cost (503,408 shares as of December 31, 2019 and December 31, 2018) (3,725) (3,725)
Stock held by deferred compensation plan (25,437 shares as of December 31, 2019 and December 31, 2018) (183) (183)
Accumulated other comprehensive loss (7,341) (11,927)
Total Shareholders’ Equity 249,168 245,189
Total Liabilities and Shareholders’ Equity $ 3,341,290 $ 2,753,297