v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and due from banks $ 24,787 $ 25,319
Interest-bearing deposits in other financial institutions 242,618 181,823
Total cash and cash equivalents 267,405 207,142
Securities available-for-sale, at fair value (amortized cost of $178,780 and $167,053, respectively, and allowance for credit losses of $0 and $0, respectively, at March 31, 2026 and December 31, 2025) 170,477 160,009
Loans held-for-sale, at lower of cost or fair value 3,604 12,077
Loans held-for-investment, net of deferred fees and costs 2,873,551 2,820,400
Allowance for credit losses on loans (33,943) (33,381)
Net loans held-for-investment 2,839,608 2,787,019
Premises and equipment, net 7,695 8,194
Federal Home Loan Bank and other restricted stock, at cost 14,978 14,978
Bank-owned life insurance 33,070 32,796
Deferred tax assets, net 9,697 9,210
Servicing assets 5,691 5,627
Operating lease assets 16,453 17,158
Accrued interest receivable 10,952 10,669
Other assets 16,563 16,892
Total assets 3,396,193 3,281,771
Deposits:    
Noninterest-bearing demand 570,393 555,645
Savings, NOW and money market accounts 681,065 676,075
Time deposits of $250,000 or less 831,448 855,059
Time deposits of more than $250,000 805,074 708,633
Total deposits 2,887,980 2,795,412
Federal Home Loan Bank advances 50,000 34,000
Operating lease liabilities 18,301 18,996
Accrued interest payable and other liabilities 43,194 43,337
Total liabilities 2,999,475 2,891,745
Commitments and contingencies
Preferred stock, 10,000,000 shares authorized, no par value:    
Series C, senior non-cumulative perpetual, $1,000 per share liquidation preference, 69,141 and 69,141 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 69,141 69,141
Common stock, 60,000,000 shares authorized, no par value; 14,231,423 and 14,230,428 shares issued and outstanding, respectively, and including 85,850 and 90,850 shares of unvested restricted stock, respectively, at March 31, 2026 and December 31, 2025 139,405 139,256
Retained earnings 193,923 186,485
Accumulated other comprehensive loss, net (5,751) (4,856)
Total shareholders’ equity 396,718 390,026
Total liabilities and shareholders’ equity $ 3,396,193 $ 3,281,771