v3.25.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 26,045 $ 20,206
Interest-bearing deposits 267,688 160,232
Cash and cash equivalents 293,733 180,438
Securities:    
Debt securities available for sale ("AFS"), at fair value, net of valuation allowance 92,491 93,884
Debt securities held to maturity ("HTM"), at amortized cost 36,434 41,294
Equity securities, at market value 10,423 9,850
Total securities 139,348 145,028
Loans:    
Total loans 2,382,594 2,260,657
Allowance for credit losses (29,012) (26,788)
Net loans 2,353,582 2,233,869
Premises and equipment, net 18,561 18,778
Bank owned life insurance ("BOLI") 26,108 25,773
Deferred tax assets, net 14,784 14,106
Federal Home Loan Bank ("FHLB") stock 19,730 12,507
Accrued interest receivable 12,411 12,691
Goodwill 1,516 1,516
Prepaid expenses and other assets 48,750 9,311
Total assets 2,928,523 2,654,017
Deposits:    
Noninterest-bearing demand 464,610 440,803
Interest-bearing demand 321,863 321,780
Savings 505,706 491,175
Brokered deposits 237,978 217,931
Time deposits 657,209 628,624
Total deposits 2,187,366 2,100,313
Borrowed funds 377,107 220,504
Subordinated debentures 10,310 10,310
Accrued interest payable 1,463 1,702
Accrued expenses and other liabilities 32,437 25,605
Total liabilities 2,608,683 2,358,434
Shareholders' equity:    
Common stock 104,674 103,936
Retained earnings 252,606 227,331
Treasury stock (35,515) (33,577)
Accumulated other comprehensive loss (1,925) (2,107)
Total shareholders' equity 319,840 295,583
Total liabilities and shareholders' equity 2,928,523 2,654,017
Loans held for sale    
Loans:    
Total loans 13,352 12,163
SBA loans held for investment    
Loans:    
Total loans 38,059 38,309
Allowance for credit losses (1,177) (1,535)
Commercial loans    
Loans:    
Total loans 1,511,129 1,411,629
Allowance for credit losses (19,537) (17,361)
Residential mortgage loans    
Loans:    
Total loans 666,560 630,927
Allowance for credit losses (6,916) (6,254)
Consumer loans    
Loans:    
Total loans 82,564 76,711
Allowance for credit losses (785) (775)
Residential construction loans    
Loans:    
Total loans 70,930 90,918
Allowance for credit losses $ (597) $ (863)