v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 154,946 $ 96,401
Time deposits in other financial institutions 1,334 350
Cash and cash equivalents 156,280 96,751
Equity securities, at fair value (Note 2) 9,582 7,782
Securities available for sale, at fair value (Note 2) 479,426 479,117
Securities held to maturity, at amortized cost net of credit losses (Note 2) 390,457 394,534
Federal Home Loan Bank stock 18,562 9,383
Federal Reserve Bank stock 12,547 5,307
Loans held for sale 7,639 7,288
Loans to other financial institutions (Note 3) 3,033 39,878
Core loans (Note 3) 2,917,759 1,505,762
Total loans held for investment (Note 3) 2,920,792 1,545,640
Allowance for credit losses (Note 3) (34,798) (16,552)
Loans, net 2,885,994 1,529,088
Premises and equipment, net 45,667 27,099
Other real estate owned, net 2,442 473
Cash value of life insurance policies 73,673 44,896
Goodwill 126,730 59,946
Intangible assets 33,421 1,096
Other assets 67,832 60,483
Total assets 4,310,252 2,723,243
Liabilities    
Deposits - noninterest - bearing 943,873 524,945
Deposits - interest-bearing 2,542,526 1,652,647
Brokered deposits 106,225 36,511
Total deposits 3,592,624 2,214,103
Borrowings 198,428 175,000
Subordinated debentures 48,277 35,752
Other liabilities 39,162 37,973
Total liabilities 3,878,491 2,462,828
Shareholders' Equity    
Preferred stock; shares authorized: 100,000; shares outstanding: none 0 0
Common stock and paid-in capital, no par value; shares authorized: 30,000,000; shares outstanding: 15,008,864 at June 30, 2025 and 8,965,483 at December 31, 2024 398,201 206,780
Retained earnings 82,647 91,414
Accumulated other comprehensive loss, net (49,087) (37,779)
Total shareholders’ equity 431,761 260,415
Total liabilities and shareholders’ equity $ 4,310,252 $ 2,723,243