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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 49,318 $ 72,815
Interest-earning deposits with other banks 152,288 176,984
Cash and cash equivalents 201,606 249,799
Investment securities held-to-maturity (fair value $124,022 and $128,277 at March 31, 2024 and December 31, 2023, respectively) 143,474 145,777
Investment securities available-for-sale (amortized cost $397,982 and $395,727, net of allowance for credit losses of $817 and $731 at March 31, 2024 and December 31, 2023, respectively) 350,819 351,553
Investments in equity securities 3,355 3,293
Federal Home Loan Bank, Federal Reserve Bank and other stock, at cost 37,394 40,499
Loans held for sale 13,188 11,637
Loans and leases receivable, net of deferred income 6,579,086 6,567,214
Less: Allowance for credit losses, loans and leases (85,632) (85,387)
Net loans and leases held for investment 6,493,454 6,481,827
Premises and equipment, net 48,739 51,441
Operating lease right-of-use assets 30,702 31,795
Goodwill 175,510 175,510
Other intangibles, net of accumulated amortization 7,473 10,950
Bank owned life insurance 137,896 131,344
Accrued interest receivable and other assets 102,958 95,203
Total assets 7,746,568 7,780,628
LIABILITIES    
Noninterest-bearing deposits 1,401,806 1,468,320
Interest-bearing deposits 5,003,552 4,907,461
Total 6,405,358 6,375,781
Short-term borrowings 4,816 6,306
Long-term debt 250,000 310,000
Subordinated notes 148,886 148,761
Operating lease liabilities 33,744 34,851
Accrued interest payable and other liabilities 60,095 65,721
Total liabilities 6,902,899 6,941,420
SHAREHOLDERS’ EQUITY    
Common stock, $5 par value: 48,000,000 shares authorized at March 31, 2024 and December 31, 2023; 31,556,799 shares issued at March 31, 2024 and December 31, 2023; 29,337,919 and 29,511,721 shares outstanding at March 31, 2024 and December 31, 2023, respectively 157,784 157,784
Additional paid-in capital 298,914 301,066
Retained earnings 488,790 474,691
Accumulated other comprehensive loss, net of tax benefit (54,740) (50,646)
Treasury stock, at cost; 2,218,880 and 2,045,078 shares at March 31, 2024 and December 31, 2023, respectively (47,079) (43,687)
Total shareholders’ equity 843,669 839,208
Total liabilities and shareholders’ equity $ 7,746,568 $ 7,780,628