v3.25.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets:    
Cash and due from banks $ 43,997 $ 21,534
Interest-earning deposits with correspondent banks 119,582 88,368
Short-term investments 4,145 3,987
Mortgage loans held for sale, measured at fair value 35,681 21,708
Mortgage loans held for sale, at lower of cost or market 0 281,706
Premises and equipment held for sale, at lower of cost or market 0 4,788
Available for sale debt securities, fair value 971,341 916,305
Federal Home Loan Bank stock, at cost 45,273 49,817
Loans:    
Total loans [1] 5,140,260 5,137,838
Less: allowance for credit losses on loans 41,059 41,960
Net loans 5,099,201 5,095,878
Premises and equipment, net 25,574 26,873
Operating lease right-of-use assets 35,578 26,943
Investment in bank-owned life insurance 113,372 106,777
Goodwill 63,909 63,909
Identifiable intangible assets, net 2,478 2,885
Other assets 185,036 219,169
Total assets 6,745,167 6,930,647
Liabilities:    
Noninterest-bearing deposits 646,584 661,776
Interest-bearing deposits 4,398,664 4,454,024
Total deposits 5,045,248 5,115,800
Federal Home Loan Bank advances 1,001,000 1,125,000
Junior subordinated debentures 22,681 22,681
Operating lease liabilities 38,299 [2] 29,578
Other liabilities 110,420 137,860
Total liabilities 6,217,648 6,430,919
Commitments and contingencies (Note 17)
Shareholders' Equity:    
Common stock 1,223 1,223
Paid-in capital 197,392 196,947
Retained earnings 437,520 434,014
Accumulated other comprehensive income (loss) (95,949) (119,171)
Treasury stock, at cost (12,667) (13,285)
Total shareholders' equity 527,519 499,728
Total liabilities and shareholders’ equity $ 6,745,167 $ 6,930,647
[1] Includes net unamortized loan origination costs of $11.5 million and $10.9 million, respectively, at June 30, 2025 and December 31, 2024 and net unamortized premiums on loans purchased from and serviced by other financial institutions of $217 thousand and $242 thousand, respectively, at June 30, 2025 and December 31, 2024.
[2] Includes short-term operating lease liabilities of $3.2 million.