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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents due from banks $ 61,529 $ 58,884
Interest-bearing deposits with Federal Reserve 117,632 43,401
Interest-bearing deposits with other financial institutions 3,424 4,000
Total cash and cash equivalents 182,585 106,285
Debt securities available-for-sale, at fair value (amortized cost of $404,688 and $432,992, respectively) 335,122 371,409
Debt securities held-to-maturity, at amortized cost (fair value $352,069 and $367,388, respectively) 391,301 404,765
Equity securities 8,948 9,615
Loans held for sale 464 231
Loans receivable 4,492,174 4,275,178
Less: allowance for credit losses (45,832) (43,436)
Net loans receivable 4,446,342 4,231,742
FHLB and other restricted stock holdings and investments 28,329 30,715
Premises and equipment, net 73,270 68,535
Operating lease right-of-use assets 36,065 32,307
Bank owned life insurance 113,734 111,523
Mortgage servicing rights 1,631 1,804
Goodwill and other intangibles 43,874 43,749
Core deposit intangible, net 299 364
Accrued interest receivable and other assets 69,944 62,135
Total Assets 5,731,908 5,475,179
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 782,996 898,437
Interest-bearing demand deposits 781,309 1,007,202
Savings 2,883,736 2,270,337
Certificates of deposit 554,740 446,461
Total deposits 5,002,781 4,622,437
Short-term borrowings 0 132,396
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 84,191 83,964
Operating lease liabilities 37,998 33,726
Accrued interest payable and other liabilities 37,106 51,274
Total liabilities 5,182,696 4,944,417
Commitments and contingent liabilities
Preferred stock, Series A non-cumulative perpetual, $0 par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at September 30, 2023 and December 31, 2022 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,235,503 at September 30, 2023 and 21,235,503 at December 31, 2022 0 0
Additional paid in capital 220,100 221,553
Retained earnings 336,690 306,911
Treasury stock, at cost (339,869 shares at September 30, 2023 and 114,157 shares December 31, 2022) (6,862) (2,967)
Accumulated other comprehensive loss (58,501) (52,520)
Total shareholders’ equity 549,212 530,762
Total Liabilities and Shareholders’ Equity 5,731,908 5,475,179
PPP loans, net of deferred processing fees    
ASSETS    
Loans receivable 56 159
Syndicated loans    
ASSETS    
Loans receivable 123,090 156,649
Loans    
ASSETS    
Loans receivable $ 4,369,028 $ 4,118,370