v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 29,546 $ 36,533
Interest earning deposits with other banks 690,213 415,980
Investment securities, available for sale, at fair value 33 35
Investment securities, held to maturity, at amortized cost 45,544 47,286
Other investments 12,521 10,800
Loans held for sale 60,474 20,600
Loans receivable 3,540,330 3,486,565
Allowance for credit losses (164,794) (176,994)
Total loans receivable, net 3,375,536 3,309,571
CCBX credit enhancement asset 167,779 181,890
CCBX receivable 13,009 14,138
Premises and equipment, net 29,052 27,431
Lease right-of-use assets 4,891 5,219
Accrued interest receivable 20,849 21,104
Bank-owned life insurance, net 13,648 13,375
Deferred tax asset, net 3,829 3,600
Other assets 13,635 13,646
Total assets 4,480,559 4,121,208
LIABILITIES    
Deposits 3,913,571 3,585,332
Principal amount $45,000 (less unamortized debt issuance costs of $632 and $707) at June 30, 2025 and December 31, 2024, respectively 44,368 44,293
Principal amount $3,609 (less unamortized debt issuance costs of $17 and $18 at June 30, 2025 and December 31, 2024, respectively) 3,592 3,591
Deferred compensation 295 332
Accrued interest payable 954 962
Lease liabilities 5,063 5,398
CCBX payable 32,939 29,171
Other liabilities 18,068 13,425
Total liabilities 4,018,850 3,682,504
SHAREHOLDERS’ EQUITY    
Authorized: 25,000,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding: zero shares at June 30, 2025 and December 31, 2024 0 0
Authorized: 300,000,000 shares at June 30, 2025 and December 31, 2024; 15,093,036 shares at June 30, 2025 issued and outstanding and 14,935,298 shares at December 31, 2024 issued and outstanding 230,423 228,177
Retained earnings 231,287 210,529
Accumulated other comprehensive loss, net of tax (1) (2)
Total shareholders’ equity 461,709 438,704
Total liabilities and shareholders’ equity $ 4,480,559 $ 4,121,208