v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Cash and cash equivalents:    
Cash and due from banks $ 52,194 $ 42,689
Interest-earning deposits with banks 34,543 41,152
Total cash and cash equivalents 86,737 83,841
Investments:    
Debt securities at fair value (amortized cost of $674,601 and $685,766, respectively) 594,691 583,930
Equity securities at fair value 9,242 9,665
Total investment securities at fair value 603,933 593,595
Federal Home Loan Bank stock 4,932 7,093
Loans held for sale 1,069 520
Loans:    
Total loans 4,049,642 3,982,898
Allowance for credit losses (64,042) (63,498)
Net loans 3,985,600 3,919,400
Premises and equipment, net 41,464 42,444
Lease right-of-use asset 23,946 24,126
Accrued interest receivable 21,782 20,553
Deferred income taxes, net 42,338 49,096
Bank-owned life insurance 67,927 67,421
Prepaid income taxes 4,099 2,583
Prepaid expenses and other assets 11,006 11,398
Goodwill 5,656 5,656
Total assets 4,900,489 4,827,726
Liabilities    
Customer deposits 4,150,668 4,187,698
Brokered deposits 149,975 0
Total deposits 4,300,643 4,187,698
Borrowed funds 94,493 153,136
Subordinated debt 59,894 59,815
Lease liability 23,699 23,849
Accrued expenses and other liabilities 29,422 33,425
Accrued interest payable 6,983 9,055
Total liabilities 4,515,134 4,466,978
Commitments and Contingencies
Shareholders' Equity    
Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued 0 0
Common stock, $0.01 par value per share; 40,000,000 shares authorized; 12,510,019 and 12,447,308 shares issued and outstanding, respectively 125 124
Additional paid-in capital 111,621 111,295
Retained earnings 335,568 328,243
Accumulated other comprehensive loss (61,959) (78,914)
Total shareholders' equity 385,355 360,748
Total liabilities and shareholders' equity $ 4,900,489 $ 4,827,726