Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 212,841 $ 304,800
Securities available for sale, at fair value (amortized cost of $941,760 and $1,004,563 as of December 31, 2025 and 2024, respectively) 880,624 905,798
Loans held for sale, at the lower of cost or fair value 7,403 8,579
Loans, net of allowance for credit losses of $69,903 and $70,147 as of December 31, 2025 and 2024, respectively 6,493,465 6,181,230
Accrued interest receivable 24,466 22,937
Premises and equipment, net 20,378 21,404
Customers' liability on acceptances 125 1,226
Servicing assets 6,459 6,457
Goodwill 11,031 11,031
Federal Home Loan Bank ("FHLB") stock, at cost 16,385 16,385
Income tax assets 40,467 44,901
Bank-owned life insurance 56,697 57,168
Prepaid expenses and other assets 98,844 96,009
Total assets 7,869,185 7,677,925
Deposits:    
Noninterest-bearing 2,015,212 2,096,634
Interest-bearing 4,662,438 4,339,142
Total deposits 6,677,650 6,435,776
Accrued interest payable 34,783 34,824
Bank's liability on acceptances 125 1,226
Borrowings 150,000 262,500
Subordinated debentures ($135,995 and $136,800 face amount less unamortized discount and debt issuance costs of $5,532 and $6,162 as of December 31, 2025 and 2024, respectively) 130,463 130,638
Accrued expenses and other liabilities 79,778 80,787
Total liabilities 7,072,799 6,945,751
Stockholders' equity:    
Preferred stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of December 31, 2025 and December 31, 2024
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 34,287,779 shares (29,894,757 shares outstanding) and 34,151,464 shares (30,195,999 shares outstanding) as of December 31, 2025 and 2024, respectively 34 34
Additional paid-in capital 594,667 591,069
Accumulated other comprehensive loss, net of tax benefit of $17,822 and $28,576 as of December 31, 2025 and 2024, respectively (43,175) (70,723)
Retained earnings 394,335 350,869
Less: treasury stock; 4,393,022 shares and 3,955,465 shares as of December 31, 2025 and 2024, respectively (149,475) (139,075)
Total stockholders' equity 796,386 732,174
Total liabilities and stockholders' equity $ 7,869,185 $ 7,677,925