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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 124,607 $ 110,491 [1]
Restricted cash 5,924 10,660 [1]
Federal funds sold 5,219 4,451 [1]
Securities available for sale, at fair value 307,427 321,081 [1]
Restricted equity investments 18,236 18,621 [1]
Other equity investments 4,354 12,905 [1]
Other investments 21,099 29,467 [1]
Loans held for sale 54,377 46,337 [1]
Loans held for investment, net of deferred fees and costs 2,259,279 2,430,947 [1]
Less: allowance for credit losses (28,036) (35,893) [1]
Loans held for investment, net 2,231,243 2,395,054 [1]
Accrued interest receivable 14,172 14,967 [1]
Premises and equipment, net 21,746 22,348 [1]
Right-of-use asset 8,208 8,738 [1]
Bank owned life insurance 42,446 48,453 [1]
Other intangible assets 4,548 5,382 [1]
Mortgage servicing rights, net 29,862 27,114 [1]
Deferred tax asset, net 21,051 21,556 [1]
Other assets 18,553 19,929 [1]
Total assets 2,933,072 3,117,554 [1]
Deposits:    
Noninterest-bearing demand 470,128 506,248 [1]
Interest-bearing demand and money market 769,870 1,049,536 [1]
Savings 106,619 117,923 [1]
Time 979,222 892,325 [1]
Total deposits 2,325,839 2,566,032 [1]
FHLB borrowings 202,900 210,000 [1]
FRB borrowings 0 65,000 [1]
Subordinated notes, net 39,822 39,855 [1]
Lease liabilities 8,947 9,619 [1]
Other liabilities 29,950 41,059 [1]
Total liabilities 2,607,458 2,931,565 [1]
Commitments and contingencies (Note 8)
Stockholders’ Equity:    
Common stock, no par value; 150,000,000 and 50,000,000 shares authorized at June 30, 2024 and December 31, 2023, respectively; 73,503,647 and 19,198,379 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 300,976 197,636 [1]
Series C preferred stock, $50 per share par value; 250,000 shares authorized at June 30, 2024 and December 31, 2023, respectively; 2,732 and 0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 137 0 [1]
Additional paid-in capital 50,155 252 [1]
Retained earnings 18,829 33,157 [1]
Accumulated other comprehensive loss, net of tax (44,483) (45,056) [1]
Total stockholders’ equity 325,614 185,989 [1]
Total liabilities and stockholders’ equity $ 2,933,072 $ 3,117,554 [1]
[1] Derived from audited December 31, 2023 Consolidated Financial Statements.