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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
[1]
Assets    
Cash and due from banks $ 49,367 $ 58,404
Federal funds sold 582,285 395,756
Interest-bearing deposits in banks 3,355 2,401
Total cash and cash equivalents 635,007 456,561
Debt securities available for sale 77,440 83,358
Loans held for investment, net of unearned income (includes covered loans of $9,680, December 31, 2020) (2) [2] 2,152,103 2,186,632
Allowance for credit losses (3) [3] (29,877) (26,182)
Loans held for investment, net 2,122,226 2,160,450
Premises and equipment, net 52,842 57,700
Other real estate owned 1,240 2,083
Interest receivable 8,146 9,052
Goodwill 129,565 129,565
Other intangible assets 5,987 7,069
Other assets 107,258 105,298
Total assets 3,139,711 3,011,136
Liabilities    
Noninterest-bearing 820,147 772,795
Interest-bearing 1,853,699 1,773,452
Total deposits 2,673,846 2,546,247
Securities sold under agreements to repurchase 1,106 964
Interest, taxes, and other liabilities 37,395 37,195
Total liabilities 2,712,347 2,584,406
Stockholders' equity    
Preferred stock, undesignated par value; 1,000,000 shares authorized; Series A Noncumulative Convertible Preferred Stock, $0.01 par value; 25,000 shares authorized; none outstanding 0 0
Common stock, $1 par value; 50,000,000 shares authorized; 24,134,311 shares issued and 17,071,052 outstanding at September 30, 2021; 24,319,076 shares issued and 17,722,507 outstanding at December 31, 2020 17,071 17,723
Additional paid-in capital 154,086 173,345
Retained earnings 258,860 237,585
Accumulated other comprehensive loss (2,653) (1,923)
Total stockholders' equity 427,364 426,730
Total liabilities and stockholders' equity $ 3,139,711 $ 3,011,136
[1] Derived from audited financial statements
[2] Effective September 28, 2021, the Company terminated its remaining loss share agreement with the FDIC. The termination eliminates the FDIC guarantee on particular loan losses.
[3] Effective January 1, 2021, the Company adopted the current expected credit loss methodology ("CECL"), prior to January 1, 2021, the Company utilized the incurred credit loss methodology.