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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Assets    
Cash and due from banks $ 43,061 $ 43,179
Federal funds sold and interest bearing due from banks 289,920 274,766
Total cash and cash equivalents 332,981 317,945
Mortgage loans held for sale 6,579 22,547
Available for sale debt securities (amortized cost of $675,478 in 2021 and $574,722 in 2020, respectively) 672,167 586,978
Federal Home Loan Bank stock, at cost 10,228 11,284
Loans [1],[2] 3,635,156 3,531,596
Allowance for credit losses 50,714 51,920
Net loans 3,584,442 3,479,676
Premises and equipment, net 57,073 58,015
Bank owned life insurance 33,411 33,250
Accrued interest receivable 12,998 13,094
Goodwill 12,513 12,513
Core deposit intangible 1,885 1,962
Other assets 69,798 71,365
Total assets 4,794,075 4,608,629
Liabilities    
Non-interest bearing 1,370,183 1,187,057
Interest bearing 2,829,779 2,801,577
Total deposits 4,199,962 3,988,634
Securities sold under agreements to repurchase 51,681 47,979
Federal funds purchased 8,642 11,464
Federal Home Loan Bank advances 24,180 31,639
Accrued interest payable 249 391
Other liabilities 66,129 87,821
Total liabilities 4,350,843 4,167,928
Commitments and contingent liabilities (Footnote 10) 0 0
Stockholders’ equity    
Preferred stock, no par value. Authorized 1,000,000 shares; no shares issued or outstanding 0 0
Common stock, no par value. Authorized 40,000,000 shares; issued and outstanding 22,781,000 and 22,692,000 shares in 2021 and 2020, respectively 36,796 36,500
Additional paid-in capital 46,879 41,886
Retained earnings 362,607 353,574
Accumulated other comprehensive income (loss) (3,050) 8,741
Total stockholders’ equity 443,232 440,701
Total liabilities and stockholders’ equity $ 4,794,075 $ 4,608,629
[1] Pursuant to the CARES Act, loan deferrals granted to borrowers experiencing business interruptions related to the pandemic were not classified as TDRs and not included in past due and/or non-performing loan statistics. As of March 31, 2021 and December 31, 2020, outstanding loan deferrals of $14 million and $37 million are reflected as current, respectively.
[2] Total loans are presented inclusive of premiums, discounts and net loan origination fees and costs.