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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 121,876 $ 67,176
Interest-bearing deposits with banks 75,756 78,139
Total cash and cash equivalents 197,632 145,315
Securities available-for-sale, at fair value (amortized cost: $1,326,894 - 2023; $1,418,337 - 2022; allowance for credit losses: $0) 1,141,971 1,257,101
Securities held to maturity, net of allowance for credit losses of $0 (fair value: $582,592 - 2023; $642,097 - 2022) 658,524 691,484
Other securities 35,872 33,944
Total securities 1,836,367 1,982,529
Loans held for sale 5,960 4,443
Loans held for investment 5,089,800 3,774,157
Allowance for credit losses (53,565) (38,917)
Net loans held for investment 5,036,235 3,735,240
Interest receivable 30,542 27,723
Premises and equipment 175,716 143,518
Operating lease right-of-use assets 6,442 7,620
Finance lease right-of-use assets 1,582 1,930
Cash surrender value of bank-owned life insurance 133,540 95,571
Goodwill 272,672 180,254
Other real estate owned 4,920 4,832
Other assets 182,677 132,742
Total assets 7,884,285 6,461,717
Deposits:    
Noninterest-bearing 1,967,661 1,630,203
Interest-bearing 4,512,364 3,864,201
Total deposits 6,480,025 5,494,404
Interest payable 13,800 3,324
Borrowed funds 302,000 130,100
Subordinated debentures 128,300 145,027
Operating lease liabilities 6,602 7,810
Finance lease liabilities 1,784 1,918
Allowance for credit losses on off-balance sheet credit exposures 2,075 1,325
Other liabilities 52,478 31,146
Total liabilities 6,987,064 5,815,054
Shareholders’ equity:    
Common stock, par value $1 per share, 80,000,000 shares authorized shares authorized; 32,343,411 shares issued at September 30, 2023, and par value $1 per share, 40,000,000 shares authorized; 25,275,369 shares issued at December 31, 2022 32,343 25,275
Additional paid-in capital 774,598 558,833
Retained earnings 296,559 252,623
Accumulated other comprehensive (loss) income (165,168) (148,957)
Treasury stock, at cost, 1,249,607 shares at September 30, 2023 and at December 31, 2022 (41,111) (41,111)
Total shareholders’ equity 897,221 646,663
Total liabilities and shareholders’ equity $ 7,884,285 $ 6,461,717