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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and due from banks $ 43,689 $ 41,928
Interest bearing deposits with banks 874,472 126,391
Cash and cash equivalents 918,161 168,319
Investment securities available for sale, at fair value 440,655 539,042
Investment securities held to maturity, at amortized cost (fair value of $712,369 and $653,109, respectively) 688,939 644,842
Restricted stock, at cost 3,789 2,746
Mortgage loans held for sale, at fair value 41,683 10,345
Other loans held for sale 866 3,004
Loans receivable (net of allowance for loan losses of $11,851 and $9,266, respectively) 2,617,547 1,738,929
Premises and equipment, net 124,034 116,956
Other real estate owned, net 1,113 1,730
Accrued interest receivable 15,021 9,934
Operating leases – right-of-use asset 68,423 64,805
Goodwill 0 5,011
Other assets 38,525 35,627
Total Assets 4,958,756 3,341,290
Deposits    
Demand - non-interest bearing 1,049,169 661,431
Demand - interest bearing 1,618,342 1,352,360
Money market and savings 1,034,799 761,793
Time deposits 203,296 223,579
Total Deposits 3,905,606 2,999,163
Short-term borrowings 646,267 0
Accrued interest payable 1,277 1,630
Other liabilities 18,429 11,208
Operating lease liability obligation 72,969 68,856
Subordinated debt 11,270 11,265
Total Liabilities 4,655,818 3,092,122
Shareholders’ Equity    
Preferred stock, par value $0.01 per share; liquidation preference $25.00 per share; 10,000,000 shares authorized; share issued 2,000,000 as of September 30, 2020 and no shares as of December 31,2019; shares outstanding 2,000,000 as of September 30, 2020 and no shares as of December 31, 2019 20 0
Common stock, par value $0.01 per share: 100,000,000 shares authorized; shares issued 59,384,623 as of September 30, 2020 and 59,371,623 as of December 31, 2019; shares outstanding 58,855,778 as of September 30, 2020 and 58,842,778 as of December 31, 2019 594 594
Additional paid in capital 321,915 272,039
Accumulated deficit (11,263) (12,216)
Treasury stock at cost (503,408 shares as of September 30, 2020 and December 31, 2019) (3,725) (3,725)
Stock held by deferred compensation plan (25,437 shares as of September 30, 2020 and December 31, 2019) (183) (183)
Accumulated other comprehensive loss (4,420) (7,341)
Total Shareholders’ Equity 302,938 249,168
Total Liabilities and Shareholders’ Equity $ 4,958,756 $ 3,341,290