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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 114,283 $ 122,021
Interest earning deposits 272,469 391,719
Federal funds sold 65,244 46,770
Total cash and cash equivalents 451,996 560,510
Securities AFS, at estimated fair value (amortized cost of $1,454,266 and $1,332,467, respectively) 1,405,944 1,296,294
Securities HTM (estimated fair value of $1,140,447 and $1,166,162, respectively) 1,305,975 1,307,053
FHLB stock, at cost 32,991 11,936
Equity investments 9,531 9,691
Loans held for sale 1,352 10,894
Loans:    
Loans 4,589,365 4,524,510
Less: Allowance for loan losses (42,407) (42,674)
Net loans 4,546,958 4,481,836
Premises and equipment, net 138,489 138,950
Operating lease ROU assets 14,336 14,837
Goodwill 201,116 201,116
Other intangible assets, net 2,281 2,925
Interest receivable 50,393 50,489
Deferred tax asset, net 29,744 30,426
BOLI 136,903 136,330
Other assets 29,693 31,627
Total assets 8,357,702 8,284,914
Deposits:    
Noninterest bearing 1,366,924 1,390,407
Interest bearing 5,129,008 5,159,274
Total deposits 6,495,932 6,549,681
Other borrowings 201,418 509,820
FHLB borrowings 562,282 212,648
Subordinated notes, net of unamortized debt issuance costs [1] 91,970 93,877
Trust preferred subordinated debentures, net of unamortized debt issuance costs 60,272 60,270
Unsettled trades to purchase securities 54,354 0
Operating lease liabilities 16,247 16,704
Other liabilities 74,257 68,626
Total liabilities 7,556,732 7,511,626
Off-balance-sheet arrangements, commitments and contingencies (Note 12)
Shareholders’ equity:    
Common stock:  ($1.25 par value, 80,000,000 shares authorized, 38,061,449 shares issued at June 30, 2024 and 38,039,706 shares issued at December 31, 2023) 47,577 47,550
Paid-in capital 790,559 788,840
Retained earnings 306,552 282,355
Treasury stock: (shares at cost, 7,800,889 at June 30, 2024 and 7,790,276 at December 31, 2023) (232,764) (231,995)
AOCI (110,954) (113,462)
Total shareholders’ equity 800,970 773,288
Total liabilities and shareholders’ equity $ 8,357,702 $ 8,284,914
[1] This debt consists of subordinated notes with a remaining maturity greater than one year that qualify under the risk-based capital guidelines as Tier 2 capital, subject to certain limitations.