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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 54,789 $ 58,884
Interest-bearing deposits with Federal Reserve 164,385 43,401
Interest-bearing deposits with other financial institutions 2,872 4,000
Total cash and cash equivalents 222,046 106,285
Debt securities available-for-sale, at fair value (amortized cost of $395,803 as of December 31, 2023 and $432,992 as of December 31, 2022) 341,955 371,409
Debt securities held-to-maturity, at amortized cost (fair value $360,570 as of December 31, 2023 and $367,388, as of December 31, 2022) 388,968 404,765
Equity securities 9,301 9,615
Loans held for sale 675 231
Loans receivable 4,468,476 4,275,178
Less: allowance for credit losses (45,832) (43,436)
Net loans receivable 4,422,644 4,231,742
FHLB and other restricted stock holdings and investments 30,011 30,715
Premises and equipment, net 73,700 68,535
Operating lease right-of-use assets 35,699 32,307
Bank owned life insurance 114,468 111,523
Mortgage servicing rights 1,554 1,804
Goodwill and other intangible assets 43,874 43,749
Core deposit intangible 280 364
Accrued interest receivable and other assets 67,782 62,135
Total Assets 5,752,957 5,475,179
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 728,881 898,437
Interest-bearing demand deposits 803,093 1,007,202
Savings 2,960,282 2,270,337
Certificates of deposit 506,494 446,461
Total deposits 4,998,750 4,622,437
Short-term borrowings 0 132,396
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 84,267 83,964
Operating lease liabilities 37,650 33,726
Accrued interest payable and other liabilities 40,423 51,274
Total liabilities 5,181,710 4,944,417
Commitments and contingent liabilities
Preferred stock, Series A non-cumulative perpetual, No par value; $1,000 liquidation preference; shares authorized 60,375; Shares issued 60,375 at December 31, 2023 and 60,375 at December 31, 2022 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,235,503 shares at December 31, 2023 and 21,121,346 at December 31, 2022 0 0
Additional paid in capital 220,495 221,553
Retained earnings 345,935 306,911
Treasury stock, at cost (339,064 shares at December 31, 2023 and 114,157 shares at December 31, 2022) (6,890) (2,967)
Accumulated other comprehensive loss (46,078) (52,520)
Total shareholders’ equity 571,247 530,762
Total Liabilities and Shareholders’ Equity 5,752,957 5,475,179
PPP loans, net of deferred processing fees    
ASSETS    
Loans receivable 48 159
Syndicated loans    
ASSETS    
Loans receivable 108,710 156,649
Loans    
ASSETS    
Loans receivable $ 4,359,718 $ 4,118,370