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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 26,437 $ 30,017
Interest-earning deposits in other banks 83,232 23,711
Total cash and cash equivalents 109,669 53,728
Available-for-sale debt securities, at fair value, net of allowance for credit losses of $0, with an amortized cost of $598,174 at June 30, 2024 and $669,646 at December 31, 2023, respectively 531,972 597,196
Held-to-maturity debt securities, at amortized cost less allowance for credit losses of $1,076 at June 30, 2024 and $1,051 at December 31, 2023, respectively 301,898 302,442
Equity securities, at fair value 6,551 6,649
Loans, less allowance for credit losses of $24,940 at June 30, 2024 and $14,653 at December 31, 2023, respectively 2,231,631 1,276,144
Bank premises and equipment, net 21,752 14,042
Bank-owned life insurance 51,166 41,572
Federal Home Loan Bank stock 10,978 7,136
Goodwill created from transaction 96,379 53,777
Accrued interest receivable and other assets 122,675 80,740
Total assets 3,484,671 2,433,426
Deposits:    
Non-interest bearing 1,075,882 951,541
Interest bearing 1,793,418 1,090,071
Total deposits 2,869,300 2,041,612
Borrowings 150,638 80,000
Senior debt and subordinated debentures, less debt issuance costs of $375 at June 30, 2024 and $411 at December 31, 2023 69,817 69,744
Accrued interest payable and other liabilities 44,674 35,006
Total liabilities 3,134,429 2,226,362
Commitments and contingencies (Note 8)
Shareholders’ equity:    
Preferred stock, no par value; 10,000,000 shares authorized, none issued and outstanding 0 0
Common stock, no par value; 80,000,000 shares authorized; issued and outstanding: 18,939,531 at June 30, 2024 and 11,818,039 at December 31, 2023 206,821 62,550
Retained earnings 204,250 210,548
Accumulated other comprehensive loss, net of tax (60,829) (66,034)
Total shareholders’ equity 350,242 207,064
Total liabilities and shareholders’ equity $ 3,484,671 $ 2,433,426