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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents due from banks $ 38,953 $ 54,789
Interest-bearing deposits with Federal Reserve 259,464 164,385
Interest-bearing deposits with other financial institutions 3,036 2,872
Total cash and cash equivalents 301,453 222,046
Debt securities available-for-sale, at fair value (amortized cost of $403,994 and $395,803, respectively) 348,565 341,955
Debt securities held-to-maturity, at amortized cost (fair value $352,138 and $360,570, respectively) 381,706 388,968
Equity securities 9,581 9,301
Loans held for sale 1,010 675
Loans receivable 4,431,398 4,468,476
Less: allowance for credit losses (45,832) (45,832)
Net loans receivable 4,385,566 4,422,644
FHLB and other restricted stock holdings and investments 31,017 30,011
Premises and equipment, net 74,712 73,700
Operating lease right-of-use assets 35,775 35,699
Bank owned life insurance 115,235 114,468
Mortgage servicing rights 1,499 1,554
Goodwill and other intangibles 43,874 43,874
Core deposit intangible, net 260 280
Accrued interest receivable and other assets 71,159 67,782
Total Assets 5,801,412 5,752,957
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Noninterest-bearing demand deposits 749,178 728,881
Interest-bearing demand deposits 719,781 803,093
Savings 3,035,823 2,960,282
Certificates of deposit 532,771 506,494
Total deposits 5,037,553 4,998,750
Short-term borrowings 0 0
Subordinated debentures 20,620 20,620
Subordinated notes, net of unamortized issuance costs 84,343 84,267
Operating lease liabilities 37,832 37,650
Accrued interest payable and other liabilities 42,424 40,423
Total liabilities 5,222,772 5,181,710
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 March 31, 2024 and December 31, 2023 57,785 57,785
Common stock, no par value; 50,000,000 shares authorized; Shares issued 21,235,503 at March 31, 2024 and 21,235,503 at December 31, 2023 0 0
Additional paid in capital 218,224 220,495
Retained earnings 353,780 345,935
Treasury stock, at cost (210,808 shares at March 31, 2024 and 339,064 shares December 31, 2023) (3,946) (6,890)
Accumulated other comprehensive loss (47,203) (46,078)
Total shareholders’ equity 578,640 571,247
Total Liabilities and Shareholders’ Equity 5,801,412 5,752,957
PPP loans, net of deferred processing fees    
ASSETS    
Loans receivable 39 48
Syndicated loans    
ASSETS    
Loans receivable 78,685 108,710
Loans    
ASSETS    
Loans receivable $ 4,352,674 $ 4,359,718