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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 15,231 $ 14,072
Interest bearing deposits with banks 86,226 104,812
Cash and cash equivalents 101,457 118,884
Investment securities available for sale, at fair value 1,116,109 1,075,366
Investment securities held to maturity, at amortized cost (fair value of $1,531,411 and $1,647,360, respectively) 1,649,856 1,660,292
Equity securities 7,888 9,173
Restricted stock, at cost 3,135 3,510
Mortgage loans held for sale, at fair value 4,653 8,538
Other loans held for sale 4,488 5,224
Loans receivable (net of allowance for credit losses of $22,514 and $18,964, respectively) 2,534,653 2,488,401
Premises and equipment, net 129,607 127,440
Other real estate owned, net 360 360
Accrued interest receivable 16,014 15,073
Operating lease right-of-use asset 76,454 75,627
Other assets 56,008 38,768
Total Assets 5,700,682 5,626,656
Deposits    
Demand - non-interest bearing 1,404,454 1,404,360
Demand - interest bearing 2,352,205 2,283,779
Money market and savings 1,363,484 1,305,096
Time deposits 190,093 197,945
Total Deposits 5,310,236 5,191,180
Accrued interest payable 563 550
Other liabilities 18,767 17,636
Operating lease liability 82,824 81,770
Subordinated debt 11,279 11,278
Total Liabilities 5,423,669 5,302,414
Commitments and contingencies (see note 3) 0 0
Shareholders’ Equity    
Preferred stock, par value $0.01 per share; liquidation preference $25.00 per share; 10,000,000 shares authorized; shares issued 1,471,000 as of March 31, 2022 and December 31, 2021; shares outstanding 1,471,000 as of March 31, 2022 and 2,000,000 as of December 31, 2021 15 20
Common stock, par value $0.01 per share: 100,000,000 shares authorized; shares issued 64,268,411 as of March 31, 2022 and 59,471,998 as of December 31, 2021; shares outstanding 63,739,566 as of March 31, 2022 and 58,943,153 as of December 31, 2021 643 595
Additional paid in capital 325,479 324,618
Retained earnings 16,620 13,591
Treasury stock at cost (503,408 shares as of March 31, 2022 and December 31, 2021) (3,725) (3,725)
Stock held by deferred compensation plan (25,437 shares as of March 31, 2022 and December 31, 2021) (183) (183)
Accumulated other comprehensive loss (61,836) (10,674)
Total Shareholders’ Equity 277,013 324,242
Total Liabilities and Shareholders’ Equity $ 5,700,682 $ 5,626,656