The following are the unconsolidated financial statements for the Parent Company on a stand-alone basis. These condensed financial statements should be read in conjunction with the Consolidated Financial Statements and accompanying Notes. The Parent Company's principal sources of funds are cash dividends paid by the Bank to the Parent Company.


	2025		2024
Assets
Cash and cash equivalents	$	66,728	$	108,999
Deferred tax assets	11,241		11,111
Prepaid expenses and other assets	20,814		17,387
Investment in and advances to subsidiaries	1,111,308		997,329
Total assets	$	1,210,091	$	1,134,826
Liabilities


Subordinated debt, net	$	36,680	$	75,841
Accrued expenses and other liabilities	20,055		17,619
Total liabilities	56,735		93,460
Total stockholders’ equity	1,153,356		1,041,366
Total liabilities and stockholders’ equity	$	1,210,091	$	1,134,826


	2025		2024		2023
Income:
Dividends received from subsidiaries	$	7,765	$	720	$	26,595
Interest income	31		35		36

Total income	7,796		755		26,631
Expense:
Interest expense	4,525		4,951		5,049
Salary and employee benefits	2,437		1,854		1,888
Occupancy, equipment and software	293		240		189
Merger related expenses	2,234		4,537		—
Other noninterest expenses, net	1,903		1,289		2,039
Total expenses	11,392		12,871		9,165
(Loss) income before income taxes and undistributed earnings from subsidiaries	(3,596)		(12,116)		17,466
Equity in undistributed earnings from subsidiaries	99,213		84,609		83,837
Income before income taxes	95,617		72,493		101,303
Benefit from income taxes	(2,319)		(3,135)		(2,230)
Net income	$	97,936	$	75,628	$	103,533
Other comprehensive income, net	11,762		3,895		976
Comprehensive income	$	109,698	$	79,523	$	104,509


	2025		2024		2023
Cash flows from operating activities:
Net income	$	97,936	$	75,628	$	103,533
Adjustments to reconcile income to net cash (used in) provided by operating activities:
Amortization and accretion	839		529		533
Equity in undistributed income of subsidiaries	(99,213)		(84,609)		(83,837)


Changes in operating assets and liabilities:
Other assets	(3,577)		(1,293)		(419)
Other liabilities	2,967		2,923		2,911
Net cash (used in) provided by operating activities	(1,048)		(6,822)		22,721
Cash flows from investing activities:
Proceeds from sale of other investments	21		—		—

Cash paid to acquire FEIF Capital Partners, LLC	—		—		(150)

Contributions to subsidiaries	—		(500)		(210)

Net cash provided by (used in) investing activities	21		(500)		(360)
Cash flows from financing activities:
Repayments of convertible notes payable	—		—		(5,456)


Repayments of subordinated debt	(40,000)		—		—
Proceeds from issuance of common stock, net of issuance costs	(1,244)		82,271		(167)


Net cash (used in) provided by financing activities	(41,244)		82,271		(5,623)
Net (decrease) increase in cash and cash equivalents	(42,271)		74,949		16,738
Cash and cash equivalents, beginning of year	108,999		34,050		17,312
Cash and cash equivalents, end of year	$	66,728	$	108,999	$	34,050