v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 172,581 $ 136,266
Federal funds sold 33,410 65,298
Investment securities 69,933 60,183
Equity investments 8,734 8,099
Loans held for sale, at lower of amortized cost or fair value 21,376 15,144
Loans 2,773,366 2,551,705
Allowance for credit losses (122,701) [1] (114,789) [2]
Net loans receivable 2,650,665 2,436,916
Goodwill 150,803 150,803
Intangible assets, net 16,979 17,701
Accrued interest receivable 20,923 19,401
Property, equipment, and right-of-use lease assets, net 8,666 11,861
Loan collateral in process of foreclosure 6,646 7,333
Income tax receivable 1,143 0
Other assets 31,726 26,459
Total assets 3,193,585 2,955,464
Liabilities    
Deposits [3] 2,293,935 2,084,265
Long-term debt [4] 287,547 215,987
Short-term debt 54,500 95,250
Deferred tax liabilities, net [5] 19,973 19,596
Operating lease liabilities 3,876 5,041
Accrued interest payable 6,101 6,319
Income tax payable 0 759
Accounts payable and accrued expenses [6] 22,206 20,201
Total liabilities 2,688,138 2,447,418
Commitments and contingencies
Stockholders’ equity    
Preferred stock (1,000,000 shares of $0.01 par value stock authorized-none outstanding) 0 0
Common stock (50,000,000 shares of $0.01 par value stock authorized - 30,102,353 shares at June 30, 2026 and 29,592,592 shares at December 31, 2025 issued) 301 296
Additional paid in capital 298,799 299,458
Treasury stock (7,060,708 shares at June 30, 2026 and 6,280,909 at December 31, 2025) (58,814) (51,130)
Accumulated other comprehensive loss (2,859) (2,381)
Retained earnings 168,591 162,374
Total stockholders’ equity 406,018 408,617
Non-controlling interest in consolidated subsidiaries 99,429 99,429
Total equity 505,447 508,046
Total liabilities and equity $ 3,193,585 $ 2,955,464
Number of shares outstanding 23,041,645 23,311,683
Book value per share $ 17.62 $ 17.53
[1] Does not include loans held for sale which are carried at the lower of amortized cost or fair value for which an allowance for credit loss is not established.
[2] Does not include loans held for sale which are carried at the lower of amortized cost or fair value for which an allowance for credit loss is not established.
[3] Includes $5.5 million and $5.2 million of deferred financing costs as of June 30, 2026 and December 31, 2025. Refer to Note 5 for more details.
[4] Includes $4.7 million and $3.3 million of deferred financing costs as of June 30, 2026 and December 31, 2025. Refer to Note 5 for more details.
[5] Includes $42.2 million and $42.4 million of deferred tax liabilities related to goodwill and intangible assets as of June 30, 2026 and December 31, 2025. Refer to Note 7 for more details.
[6] Includes the short-term portion of lease liabilities of $0.5 million and $2.2 million as of June 30, 2026 and December 31, 2025. Refer to Note 6 for more details.