v3.20.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Assets:    
Cash and due from banks $ 29,345 $ 32,490
Interest-bearing deposits in other banks 121,739 293,467
Total cash and cash equivalents 151,084 325,957
Time deposits in other banks   490
Investment securities:    
Available for sale securities, at fair value 119,814 96,937
Total investment securities 119,814 96,937
Loans held for sale 4,287 3,989
Loans:    
Loans held for investment [1] 2,452,353 1,767,182
Less: allowance for loan and lease losses (12,207) (6,737)
Loans, net 2,440,146 1,760,445
Premises and equipment, net 82,734 75,150
Accrued interest receivable 11,612 6,507
Other real estate owned and repossessed assets 302 3,653
Goodwill 77,681 68,503
Core deposit intangible 8,698 11,472
SBA servicing asset 3,051 3,355
Deferred tax asset, net 494  
Bank-owned life insurance 15,878 15,610
Federal Home Loan Bank and other bank stock, at cost 5,709 8,310
Other assets 3,580 4,244
Total assets 2,925,070 2,384,622
Transaction accounts:    
Noninterest-bearing 667,199 444,822
Interest-bearing 940,930 803,557
Total transaction accounts 1,608,129 1,248,379
Time deposits 679,387 679,747
Total deposits 2,287,516 1,928,126
Accrued interest payable 1,321 1,219
Short-term borrowings 10,000  
Long-term borrowings 267,746 105,140
Deferred tax liability, net   672
Other liabilities 6,966 3,760
Total liabilities 2,573,549 2,038,917
Commitments and contingencies (Note 13)
Stockholders' Equity:    
Preferred stock, $1 par value; 5 million shares authorized; 0 shares issued and outstanding
Common stock, no par value; 50 million shares authorized; 18,318,678 and 18,272,245 shares issued; 17,316,313 and 18,258,222 shares outstanding 298,509 297,188
Retained earnings 65,783 48,139
Accumulated other comprehensive income (loss) (237) 667
Treasury stock (12,534) (289)
Total stockholders' equity 351,521 345,705
Total liabilities and stockholders' equity $ 2,925,070 $ 2,384,622
[1] Organic loans balance includes $(11.9) million and $(4.2) million of deferred fees, cost, premium and discount as of September 30, 2020 and December 31, 2019, respectively.

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