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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Cash and cash equivalents:    
Cash and due from banks $ 48,483 $ 39,927
Interest-earning deposits 206,280 23,867
Total cash and cash equivalents 254,763 63,794
Investments:    
Debt securities at fair value 507,674 504,788
Equity securities at fair value 654 467
Total investment securities at fair value 508,328 505,255
Federal Home Loan Bank (FHLB) stock 2,014 4,484
Loans held for sale 1,477 601
Loans, less allowance for loan losses of $42,324 at June 30, 2020 and $33,614 at December 31, 2019 3,133,818 2,531,845
Premises and equipment, net 46,562 45,419
Lease right-of-use asset 18,737 19,048
Accrued interest receivable 16,055 12,295
Deferred income taxes, net 8,110 8,732
Bank-owned life insurance 31,079 30,776
Prepaid income taxes 616 572
Prepaid expenses and other assets 10,014 6,572
Goodwill 5,656 5,656
Total assets 4,037,229 3,235,049
Liabilities    
Customer deposits 3,573,111 2,786,730
Brokered deposits [1] 74,997 0
Total Deposits 3,648,108 2,786,730
Borrowed funds 4,165 96,173
Subordinated debt 14,879 14,872
Lease liability 17,829 18,104
Accrued expenses and other liabilities 34,911 21,683
Accrued interest payable 661 846
Total liabilities 3,720,553 2,938,408
Commitments and Contingencies
Stockholders' Equity    
Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued 0 0
Common stock, $0.01 par value per share; 40,000,000 shares authorized; 11,911,488 shares issued and outstanding at June 30, 2020 and 11,825,331 shares issued and outstanding at December 31, 2019 119 118
Additional paid-in capital 95,656 94,170
Retained earnings 198,965 191,843
Accumulated other comprehensive income 21,936 10,510
Total stockholders' equity 316,676 296,641
Total liabilities and stockholders' equity $ 4,037,229 $ 3,235,049
[1]
(1)
Brokered CDs which are $250,000 and under.