Heritage Commerce Corp(NASDAQ:HTBK) 
Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest a...
Website: http://www.heritagecommercecorp.com
Founded: 1993
Full Time Employees: 342
Sector: Financial Services
Industry: Banks-Regional
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At a glance:
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Quarterly
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| Unit: USD | 2025-12-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2021-12-31 | 2020-06-30 | 2019-09-30 | 2018-12-31 | 2018-09-30 | 2017-09-30 | 2017-06-30 |
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Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-06-30 | 2019-09-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2007-12-31 | 2006-12-31 | 2006-09-30 | 2005-12-31 | 2005-11-08 | 2005-06-30 |
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assets | ||||||||||||||||||||||||||||||||||
cash and due from banks | 21,682,000 | 42,442,000 | 55,360,000 | 44,281,000 | 29,864,000 | 49,722,000 | 32,543,000 | 41,592,000 | 40,076,000 | 42,551,000 | 41,318,000 | 27,595,000 | 40,500,000 | 35,764,000 | 29,729,000 | 15,703,000 | 33,013,000 | 41,904,000 | 36,534,000 | 40,108,000 | 48,121,000 | 38,699,000 | 30,273,000 | 40,831,000 | 46,340,000 | 30,454,000 | 37,133,000 | 36,223,000 | 37,435,000 | 34,810,000 | 41,438,000 | 38,670,000 | 44,061,000 | 34,685,000 |
other investments and interest-bearing deposits in other financial institutions | 625,346,000 | 705,300,000 | 666,432,000 | 700,769,000 | 938,259,000 | 906,588,000 | 508,816,000 | 366,537,000 | 605,476,000 | 468,951,000 | 698,690,000 | 279,008,000 | 641,251,000 | 840,821,000 | 1,187,436,000 | 1,290,513,000 | 1,588,334,000 | 1,286,418,000 | 1,406,520,000 | 885,792,000 | 367,662,000 | 196,278,000 | 134,295,000 | 340,198,000 | 177,448,000 | 271,535,000 | 308,987,000 | 229,790,000 | ||||||
total cash and cash equivalents | 647,028,000 | 747,742,000 | 721,792,000 | 745,050,000 | 968,123,000 | 956,310,000 | 541,359,000 | 408,129,000 | 645,552,000 | 511,502,000 | 740,008,000 | 306,603,000 | 681,751,000 | 876,585,000 | 1,217,165,000 | 1,306,216,000 | 1,621,347,000 | 1,328,322,000 | 1,443,054,000 | 925,900,000 | 415,783,000 | 234,977,000 | 164,568,000 | 381,029,000 | 223,788,000 | 301,989,000 | 346,120,000 | 266,013,000 | 82,438,000 | 107,761,000 | 60,985,000 | |||
securities available-for-sale, at fair value | 592,958,000 | 408,456,000 | 307,035,000 | 370,976,000 | 256,274,000 | 237,612,000 | 404,474,000 | 442,636,000 | 457,194,000 | 486,058,000 | 491,751,000 | 489,596,000 | 478,534,000 | 332,129,000 | 111,217,000 | 102,252,000 | 121,000,000 | 145,955,000 | 196,718,000 | 323,565,000 | 333,101,000 | 452,521,000 | 459,043,000 | 319,071,000 | 335,923,000 | 344,766,000 | 390,107,000 | 369,901,000 | 173,723,000 | 209,415,000 | 226,630,000 | |||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 11 and 12, | ||||||||||||||||||||||||||||||||||
loans held-for-sale - sba, at lower of cost or fair value, including deferred costs | 1,322,000 | 1,325,000 | 1,156,000 | 1,884,000 | 2,375,000 | 1,649,000 | 1,946,000 | 2,205,000 | 841,000 | 3,136,000 | 2,792,000 | 2,456,000 | 2,081,000 | 2,281,000 | 831,000 | 2,367,000 | 3,678,000 | 4,344,000 | 2,834,000 | 4,324,000 | 3,571,000 | 3,216,000 | 2,649,000 | 6,344,000 | 5,745,000 | 2,859,000 | 4,602,000 | 3,720,000 | ||||||
loans, net of deferred fees | 3,653,060,000 | 3,491,937,000 | 3,410,236,000 | 3,336,102,000 | 3,350,378,000 | 3,285,461,000 | 3,288,784,000 | 3,261,915,000 | 3,298,550,000 | 3,216,473,000 | 3,082,452,000 | 3,024,064,000 | 3,087,326,000 | 2,832,859,000 | 2,824,796,000 | 2,704,707,000 | 2,686,389,000 | 1,875,387,000 | 1,848,318,000 | 1,886,405,000 | 1,899,387,000 | 1,956,633,000 | 1,591,201,000 | 1,565,950,000 | 1,566,324,000 | |||||||||
allowance for credit losses on loans | -49,999,000 | -49,427,000 | -48,633,000 | -48,262,000 | -48,953,000 | -47,819,000 | -47,888,000 | -47,958,000 | -47,702,000 | -47,803,000 | -47,273,000 | -47,512,000 | -46,921,000 | -45,490,000 | -42,788,000 | -43,290,000 | -43,680,000 | -43,956,000 | -44,296,000 | -45,444,000 | ||||||||||||||
loans | 3,603,061,000 | 3,532,251,000 | 3,485,700,000 | 3,438,636,000 | 3,442,984,000 | 3,362,417,000 | 3,288,214,000 | 3,302,420,000 | 3,237,759,000 | 3,240,981,000 | 3,214,642,000 | 3,251,038,000 | 3,169,552,000 | 3,036,962,000 | 2,981,276,000 | 3,044,036,000 | 2,789,179,000 | 2,780,840,000 | 2,660,411,000 | 2,640,945,000 | 1,849,492,000 | 1,821,000,000 | 1,858,557,000 | 1,871,961,000 | 1,929,969,000 | 1,571,062,000 | 1,546,202,000 | 1,546,927,000 | 704,321,000 | 726,867,000 | 702,255,000 | |||
federal home loan bank ("fhlb"), federal reserve bank ("frb") stock and other investments, at cost | 32,568,000 | 32,566,000 | 32,563,000 | 32,560,000 | 32,556,000 | 32,553,000 | 32,544,000 | 32,540,000 | ||||||||||||||||||||||||||
company-owned life insurance | 83,423,000 | 82,861,000 | 82,296,000 | 81,749,000 | 81,211,000 | 80,682,000 | 80,007,000 | 79,489,000 | 79,607,000 | 79,940,000 | 79,438,000 | 78,945,000 | 78,456,000 | 77,972,000 | 78,069,000 | 77,589,000 | 77,509,000 | 77,393,000 | 77,421,000 | 76,943,000 | 62,858,000 | 62,189,000 | 61,859,000 | 61,630,000 | 61,414,000 | 61,177,000 | 60,407,000 | 59,990,000 | ||||||
premises and equipment | 9,213,000 | 9,429,000 | 9,765,000 | 9,772,000 | 10,140,000 | 10,398,000 | 9,986,000 | 9,857,000 | 9,707,000 | 9,197,000 | 9,142,000 | 9,301,000 | 9,428,000 | 9,593,000 | 9,580,000 | 9,639,000 | 9,821,000 | 10,040,000 | 10,220,000 | 9,500,000 | 6,849,000 | 6,998,000 | 7,137,000 | 7,246,000 | 7,355,000 | 7,203,000 | 7,539,000 | 7,595,000 | 6,218,000 | 2,482,000 | 2,494,000 | 2,879,000 | 2,695,000 | 2,846,000 |
goodwill | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 167,631,000 | 83,753,000 | 83,753,000 | 83,753,000 | 83,752,000 | 84,417,000 | 45,664,000 | 45,664,000 | 45,664,000 | ||||||
other intangible assets | 4,625,000 | 5,078,000 | 5,532,000 | 5,986,000 | 6,439,000 | 6,966,000 | 8,074,000 | 8,627,000 | 9,229,000 | 9,830,000 | 10,431,000 | 11,033,000 | 11,692,000 | 12,351,000 | 13,009,000 | 13,668,000 | 14,423,000 | 15,177,000 | 15,931,000 | 18,593,000 | 10,346,000 | 11,454,000 | 12,007,000 | 12,614,000 | 12,293,000 | 5,348,000 | 5,867,000 | 6,163,000 | ||||||
accrued interest receivable and other assets | 93,157,000 | 91,575,000 | 92,562,000 | 83,293,000 | 87,257,000 | 91,185,000 | 85,590,000 | 89,996,000 | 98,571,000 | 88,936,000 | 89,948,000 | 93,465,000 | 95,826,000 | 85,108,000 | 79,288,000 | 85,110,000 | 88,630,000 | 89,392,000 | 87,109,000 | 90,814,000 | 49,454,000 | 47,525,000 | 44,575,000 | 48,321,000 | 50,835,000 | 32,289,000 | 39,985,000 | 41,362,000 | 34,896,000 | 35,360,000 | 32,872,000 | |||
total assets | 5,764,697,000 | 5,623,720,000 | 5,467,237,000 | 5,514,255,000 | 5,645,006,000 | 5,551,596,000 | 5,256,074,000 | 5,194,095,000 | 5,403,307,000 | 5,311,837,000 | 5,536,540,000 | 5,157,580,000 | 5,431,262,000 | 5,356,841,000 | 5,427,398,000 | 5,499,409,000 | 5,463,002,000 | 5,072,875,000 | 5,001,390,000 | 4,614,401,000 | 3,182,471,000 | 3,115,877,000 | 3,096,562,000 | 3,192,910,000 | 3,123,207,000 | 2,785,548,000 | 2,843,948,000 | 2,732,900,000 | 1,193,890,000 | 1,098,278,000 | 1,062,828,000 | 1,137,185,000 | 1,160,591,000 | 1,097,696,000 |
liabilities and shareholders' equity | ||||||||||||||||||||||||||||||||||
liabilities: | ||||||||||||||||||||||||||||||||||
deposits: | ||||||||||||||||||||||||||||||||||
demand, noninterest-bearing | 1,308,737,000 | 1,241,603,000 | 1,151,242,000 | 1,128,593,000 | 1,214,192,000 | 1,272,139,000 | 1,242,059,000 | 1,292,486,000 | 1,243,501,000 | 1,319,844,000 | 1,469,081,000 | 1,736,722,000 | 1,883,574,000 | 1,846,365,000 | 1,811,943,000 | 1,903,768,000 | 1,804,965,000 | 1,840,516,000 | 1,813,962,000 | 1,714,058,000 | 1,094,953,000 | 1,016,770,000 | 1,021,582,000 | 1,081,846,000 | 1,002,053,000 | 975,846,000 | 943,723,000 | 948,774,000 | ||||||
demand, interest-bearing | 957,146,000 | 922,077,000 | 955,504,000 | 949,068,000 | 936,587,000 | 913,910,000 | 925,100,000 | 914,066,000 | 1,004,185,000 | 1,064,638,000 | 1,196,789,000 | 1,196,427,000 | 1,154,403,000 | 1,218,538,000 | 1,268,942,000 | 1,308,114,000 | 1,141,944,000 | 1,140,867,000 | 1,101,807,000 | 934,780,000 | 666,054,000 | 704,996,000 | 702,000,000 | 670,624,000 | 683,805,000 | 621,402,000 | 605,301,000 | 573,699,000 | ||||||
savings and money market | 1,380,666,000 | 1,366,905,000 | 1,320,142,000 | 1,353,293,000 | 1,325,923,000 | 1,309,676,000 | 1,124,900,000 | 1,087,518,000 | 1,110,640,000 | 1,075,835,000 | 1,264,567,000 | 1,285,444,000 | 1,487,400,000 | 1,387,003,000 | 1,447,434,000 | 1,375,825,000 | 1,600,754,000 | 1,174,587,000 | 1,189,566,000 | 1,091,740,000 | 761,471,000 | 759,306,000 | 754,277,000 | 828,297,000 | 827,304,000 | 688,217,000 | 713,693,000 | 634,802,000 | 393,750,000 | 358,846,000 | 349,436,000 | 363,570,000 | 397,070,000 | 322,229,000 |
time deposits - under 250 | 31,500,000 | 32,462,000 | 35,356,000 | 37,592,000 | 38,988,000 | 39,060,000 | 38,105,000 | 38,055,000 | 43,906,000 | 44,520,000 | 37,884,000 | 32,445,000 | 34,728,000 | 36,691,000 | 38,417,000 | 38,734,000 | 39,628,000 | 42,118,000 | 42,596,000 | 49,493,000 | 53,560,000 | 56,385,000 | 58,661,000 | 68,194,000 | 72,030,000 | 49,861,000 | 53,479,000 | 54,129,000 | ||||||
time deposits - 250 and over | 220,715,000 | 223,496,000 | 210,818,000 | 213,357,000 | 206,755,000 | 196,945,000 | 200,739,000 | 192,228,000 | 252,001,000 | 171,852,000 | 172,070,000 | 108,192,000 | 93,263,000 | 98,760,000 | 93,161,000 | 94,700,000 | 103,046,000 | 110,111,000 | 102,508,000 | 93,822,000 | 95,543,000 | 90,042,000 | 86,114,000 | 84,763,000 | 81,379,000 | 71,446,000 | 147,422,000 | 147,242,000 | ||||||
insured cash sweep ("ics")/certificates of deposit account registry service ("cdars") - | ||||||||||||||||||||||||||||||||||
interest-bearing demand, money market and time deposits | 1,004,322,000 | 990,003,000 | 954,272,000 | 1,001,365,000 | 1,097,586,000 | 997,803,000 | 913,757,000 | 854,105,000 | ||||||||||||||||||||||||||
total deposits | 4,903,086,000 | 4,776,546,000 | 4,627,334,000 | 4,683,268,000 | 4,820,031,000 | 4,729,533,000 | 4,444,660,000 | 4,378,458,000 | 4,575,457,000 | 4,500,772,000 | 4,444,538,000 | 4,389,604,000 | 4,683,265,000 | 4,613,644,000 | 4,689,905,000 | 4,759,412,000 | 4,726,381,000 | 4,344,472,000 | 4,279,102,000 | 3,900,226,000 | 2,688,990,000 | 2,640,244,000 | 2,637,532,000 | 2,745,299,000 | 2,683,619,000 | 2,422,192,000 | 2,480,604,000 | 2,374,731,000 | 876,098,000 | 975,194,000 | 909,434,000 | |||
subordinated debt, net of issuance costs | 39,805,000 | 39,767,000 | 39,728,000 | 39,691,000 | 39,653,000 | 39,615,000 | 39,539,000 | 39,502,000 | 39,463,000 | 39,425,000 | 39,387,000 | 39,350,000 | 39,312,000 | 39,274,000 | 39,987,000 | 39,925,000 | 39,878,000 | 39,832,000 | 39,786,000 | 39,646,000 | 39,507,000 | 39,414,000 | 39,369,000 | 39,322,000 | 39,275,000 | 39,229,000 | 39,137,000 | 39,119,000 | ||||||
accrued interest payable and other liabilities | 113,240,000 | 107,397,000 | 105,471,000 | 95,106,000 | 95,595,000 | 97,096,000 | 95,579,000 | 103,234,000 | 126,457,000 | 117,970,000 | 105,407,000 | 96,170,000 | 99,168,000 | 96,699,000 | 96,450,000 | 102,044,000 | 106,625,000 | 105,127,000 | 100,839,000 | 99,722,000 | 58,628,000 | 57,703,000 | 52,195,000 | 54,723,000 | 54,044,000 | 53,136,000 | 48,762,000 | 49,819,000 | 21,892,000 | 21,938,000 | 19,675,000 | |||
total liabilities | 5,056,131,000 | 4,923,710,000 | 4,772,533,000 | 4,818,065,000 | 4,955,279,000 | 4,866,244,000 | 4,579,778,000 | 4,521,194,000 | 4,741,377,000 | 4,658,167,000 | 4,889,332,000 | 4,525,124,000 | 4,821,745,000 | 4,749,617,000 | 4,826,342,000 | 4,901,381,000 | 4,872,884,000 | 4,489,431,000 | 4,419,727,000 | 4,039,594,000 | 2,787,125,000 | 2,737,361,000 | 2,729,096,000 | 2,839,344,000 | 2,776,938,000 | 2,514,557,000 | 2,568,503,000 | 2,463,669,000 | 1,045,055,000 | 980,183,000 | 943,492,000 | 1,031,977,000 | 1,053,534,000 | 993,511,000 |
shareholders' equity: | ||||||||||||||||||||||||||||||||||
preferred stock, no par value; 10,000,000 shares authorized; none issued and outstanding | ||||||||||||||||||||||||||||||||||
at december 31, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||
common stock | 217,906,000 | 216,788,000 | ||||||||||||||||||||||||||||||||
61,368,708 and 61,348,095 shares issued and outstanding, respectively | 509,611,000 | |||||||||||||||||||||||||||||||||
retained earnings | 203,675,000 | 196,526,000 | 189,794,000 | 191,401,000 | 187,762,000 | 185,110,000 | 181,306,000 | 179,092,000 | 173,707,000 | 165,853,000 | 157,390,000 | 146,389,000 | 133,489,000 | 123,310,000 | 116,347,000 | 111,329,000 | 105,202,000 | 99,311,000 | 98,314,000 | 87,654,000 | 98,161,000 | 85,953,000 | 79,003,000 | 70,531,000 | 62,911,000 | 66,739,000 | 63,679,000 | 58,910,000 | 58,683,000 | 43,282,000 | 39,087,000 | |||
accumulated other comprehensive loss | -4,720,000 | -5,180,000 | -4,978,000 | -6,807,000 | -8,105,000 | -8,892,000 | -12,588,000 | -12,730,000 | -17,469,000 | -17,258,000 | -14,317,000 | -16,856,000 | -25,212,000 | -15,918,000 | -14,054,000 | -10,996,000 | -11,706,000 | -11,532,000 | -11,268,000 | -5,180,000 | -5,798,000 | -8,987,000 | -12,381,000 | -17,173,000 | -15,866,000 | -14,956,000 | -6,140,000 | -6,467,000 | -2,306,000 | -2,602,000 | -1,545,000 | |||
total shareholders' equity | 708,566,000 | 700,010,000 | 694,704,000 | 696,190,000 | 689,727,000 | 685,352,000 | 676,296,000 | 672,901,000 | 661,930,000 | 653,670,000 | 647,208,000 | 632,456,000 | 609,517,000 | 607,224,000 | 601,056,000 | 598,028,000 | 590,118,000 | 583,444,000 | 581,663,000 | 574,807,000 | 395,346,000 | 378,516,000 | 367,466,000 | 353,566,000 | 346,269,000 | 270,991,000 | 275,445,000 | 269,231,000 | 119,336,000 | 107,057,000 | 104,185,000 | |||
total liabilities and shareholders' equity | 5,764,697,000 | 5,623,720,000 | 5,467,237,000 | 5,514,255,000 | 5,645,006,000 | 5,551,596,000 | 5,256,074,000 | 5,194,095,000 | 5,403,307,000 | 5,311,837,000 | 5,536,540,000 | 5,157,580,000 | 5,431,262,000 | 5,356,841,000 | 5,427,398,000 | 5,499,409,000 | 5,463,002,000 | 5,072,875,000 | 5,001,390,000 | 4,614,401,000 | 3,182,471,000 | 3,115,877,000 | 3,096,562,000 | 3,192,910,000 | 3,123,207,000 | 2,785,548,000 | 2,843,948,000 | 2,732,900,000 | 1,193,890,000 | 1,098,278,000 | 1,062,828,000 | 1,137,185,000 | 1,160,591,000 | 1,097,696,000 |
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 11 | ||||||||||||||||||||||||||||||||||
and 12, respectively | 544,806,000 | 561,205,000 | ||||||||||||||||||||||||||||||||
loans held-for-investment, net of deferred fees | 3,581,678,000 | 3,534,333,000 | 3,486,898,000 | |||||||||||||||||||||||||||||||
at september 30, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||
61,277,541, and 61,348,095 shares issued and outstanding, respectively | 508,664,000 | |||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 16 | ||||||||||||||||||||||||||||||||||
at june 30, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||
61,446,763, and 61,348,095 shares issued and outstanding, respectively | 509,888,000 | |||||||||||||||||||||||||||||||||
| 576,718,000 | 604,193,000 | 636,249,000 | 2,023,000 | 322,677,000 | |||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 12 | ||||||||||||||||||||||||||||||||||
at march 31, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||
61,611,121, and 61,348,095 shares issued and outstanding, respectively | 511,596,000 | |||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 12, (fair value | ||||||||||||||||||||||||||||||||||
of 497,012 and 564,127, respectively) | 590,016,000 | |||||||||||||||||||||||||||||||||
at december 31, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||
61,348,095 and 61,146,835 shares issued and outstanding, respectively | 510,070,000 | |||||||||||||||||||||||||||||||||
at september 30, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||
61,297,344 and 61,146,835 shares issued and outstanding, respectively | 509,134,000 | |||||||||||||||||||||||||||||||||
at march 31, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||
61,253,625 and 61,146,835 shares issued and outstanding, respectively | 507,578,000 | |||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 12 and 14, respectively (fair value | ||||||||||||||||||||||||||||||||||
of 564,127 and 614,452, respectively) | 650,565,000 | |||||||||||||||||||||||||||||||||
at december 31, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||
61,146,835 and 60,852,723 shares issued and outstanding, respectively | 506,539,000 | |||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 13 at september 30, 2023 and | ||||||||||||||||||||||||||||||||||
14 at december 31, 2022 | 664,681,000 | |||||||||||||||||||||||||||||||||
federal home loan bank (fhlb), federal reserve bank (frb) stock and other investments, at cost | 32,535,000 | 32,531,000 | 32,526,000 | |||||||||||||||||||||||||||||||
ics/cdars - interest-bearing demand, money market and time deposits | 921,224,000 | 824,083,000 | 304,147,000 | |||||||||||||||||||||||||||||||
at september 30, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||
61,099,155 shares issued and outstanding at september 30, 2023 and | ||||||||||||||||||||||||||||||||||
60,852,723 shares issued and outstanding at december 31, 2022 | 505,692,000 | 505,075,000 | 504,135,000 | |||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 13 at june 30, 2023 and 14 at | ||||||||||||||||||||||||||||||||||
december 31, 2022 | 682,095,000 | |||||||||||||||||||||||||||||||||
at june 30, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||
61,091,155 shares issued and outstanding at june 30, 2023 and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 14 at both march 31, 2023 | ||||||||||||||||||||||||||||||||||
and december 31, 2022 | 698,231,000 | |||||||||||||||||||||||||||||||||
other short-term borrowings | 300,000,000 | 1,726,000 | ||||||||||||||||||||||||||||||||
at march 31, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||
60,948,607 shares issued and outstanding at march 31, 2023 and | ||||||||||||||||||||||||||||||||||
interest income: | ||||||||||||||||||||||||||||||||||
loans, including fees | 44,112,000 | |||||||||||||||||||||||||||||||||
securities, taxable | 7,056,000 | |||||||||||||||||||||||||||||||||
securities, exempt from federal tax | 247,000 | |||||||||||||||||||||||||||||||||
other investments, interest-bearing deposits | ||||||||||||||||||||||||||||||||||
in other financial institutions and federal funds sold | 4,859,000 | |||||||||||||||||||||||||||||||||
total interest income | 56,274,000 | |||||||||||||||||||||||||||||||||
interest expense: | ||||||||||||||||||||||||||||||||||
deposits | 5,901,000 | |||||||||||||||||||||||||||||||||
short-term borrowings | 578,000 | |||||||||||||||||||||||||||||||||
subordinated debt | 537,000 | |||||||||||||||||||||||||||||||||
total interest expense | 7,016,000 | |||||||||||||||||||||||||||||||||
net interest income before benefit from credit losses on loans | 49,258,000 | |||||||||||||||||||||||||||||||||
benefit from (recapture of) credit losses on loans | 32,000 | |||||||||||||||||||||||||||||||||
net interest income after benefit from credit losses on loans | 49,226,000 | |||||||||||||||||||||||||||||||||
noninterest income: | ||||||||||||||||||||||||||||||||||
service charges and fees on deposit accounts | 1,743,000 | |||||||||||||||||||||||||||||||||
increase in cash surrender value of life insurance | 493,000 | |||||||||||||||||||||||||||||||||
servicing income | 131,000 | |||||||||||||||||||||||||||||||||
gain on sales of sba loans | 76,000 | |||||||||||||||||||||||||||||||||
termination fees | 11,000 | |||||||||||||||||||||||||||||||||
gain on warrants | ||||||||||||||||||||||||||||||||||
other | 312,000 | |||||||||||||||||||||||||||||||||
total noninterest income | 2,766,000 | |||||||||||||||||||||||||||||||||
noninterest expense: | ||||||||||||||||||||||||||||||||||
salaries and employee benefits | 14,809,000 | |||||||||||||||||||||||||||||||||
occupancy and equipment | 2,400,000 | |||||||||||||||||||||||||||||||||
professional fees | 1,399,000 | |||||||||||||||||||||||||||||||||
total noninterest expense | 25,401,000 | |||||||||||||||||||||||||||||||||
income before income taxes | 26,591,000 | |||||||||||||||||||||||||||||||||
income tax expense | 7,674,000 | |||||||||||||||||||||||||||||||||
net income | 18,917,000 | |||||||||||||||||||||||||||||||||
earnings per common share: | ||||||||||||||||||||||||||||||||||
basic | 310 | |||||||||||||||||||||||||||||||||
diluted | 310 | |||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 14 at 2022 | ||||||||||||||||||||||||||||||||||
and 43 at 2021 | 714,990,000 | |||||||||||||||||||||||||||||||||
federal home loan bank, federal reserve bank stock and other investments, at cost | 32,522,000 | 32,517,000 | 32,513,000 | 32,509,000 | 32,504,000 | 32,499,000 | 32,495,000 | 33,526,000 | 33,509,000 | |||||||||||||||||||||||||
cdars - interest-bearing demand, money market and time deposits | 30,374,000 | 29,897,000 | 26,287,000 | 30,008,000 | 38,271,000 | 36,044,000 | 36,273,000 | 28,663,000 | 16,333,000 | 17,409,000 | 12,745,000 | 14,898,000 | 11,575,000 | 17,048,000 | 15,420,000 | 16,986,000 | 16,085,000 | |||||||||||||||||
preferred stock, no par value; 10,000,000 shares authorized; none issued and outstanding at 2022 and 2021 | ||||||||||||||||||||||||||||||||||
60,852,723 shares issued and outstanding at 2022 and 60,339,837 shares issued and outstanding at 2021 | 502,923,000 | |||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 15 at september 30, 2022 | ||||||||||||||||||||||||||||||||||
and 43 at december 31, 2021 | 703,794,000 | 723,716,000 | 736,823,000 | |||||||||||||||||||||||||||||||
at september 30, 2022 and december 31, 2021 | ||||||||||||||||||||||||||||||||||
60,716,794 shares issued and outstanding at september 30, 2022 and | ||||||||||||||||||||||||||||||||||
60,339,837 shares issued and outstanding at december 31, 2021 | 501,240,000 | 499,832,000 | 498,763,000 | |||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 39 at june 30, 2022 | ||||||||||||||||||||||||||||||||||
at june 30, 2022 and december 31, 2021 | ||||||||||||||||||||||||||||||||||
60,666,794 shares issued and outstanding at june 30, 2022 and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 39 at march 31, 2022 | ||||||||||||||||||||||||||||||||||
at march 31, 2022 and december 31, 2021 | ||||||||||||||||||||||||||||||||||
60,407,846 shares issued and outstanding at march 31, 2022 and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 43 at december 31, 2021 | ||||||||||||||||||||||||||||||||||
and 54 at december 31, 2020 | 658,397,000 | 537,285,000 | 421,286,000 | 306,535,000 | ||||||||||||||||||||||||||||||
at december 31, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||
60,339,837 shares issued and outstanding at december 31, 2021 and | ||||||||||||||||||||||||||||||||||
59,917,457 shares issued and outstanding at december 31, 2020 | 497,695,000 | 496,622,000 | 495,665,000 | 494,617,000 | ||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 45 at september 30, 2021 | ||||||||||||||||||||||||||||||||||
at september 30, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||
60,266,316 shares issued and outstanding at september 30, 2021 and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 51 at june 30, 2021 | ||||||||||||||||||||||||||||||||||
at june 30, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||
60,202,766 shares issued and outstanding at june 30, 2021 and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 52 at march 31, 2021 | ||||||||||||||||||||||||||||||||||
at march 31, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||
59,932,334 shares issued and outstanding at march 31, 2021 and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost, net of allowance for credit losses of 55 at june 30, 2020 | ||||||||||||||||||||||||||||||||||
at june 30, 2020 and december 31, 2019 | ||||||||||||||||||||||||||||||||||
authorized at december 31, 2019; 59,856,767 shares issued | ||||||||||||||||||||||||||||||||||
and outstanding at june 30, 2020 and 59,368,156 shares issued and | ||||||||||||||||||||||||||||||||||
outstanding at december 31, 2019 | 492,333,000 | |||||||||||||||||||||||||||||||||
allowance for credit losses on loans at june 30, 2020, allowance for loan losses at december 31, 2019 | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost (fair value of 343,129 at | ||||||||||||||||||||||||||||||||||
september 30, 2019 and 366,175 at december 31, 2018) | 342,033,000 | |||||||||||||||||||||||||||||||||
allowance for loan losses | -25,895,000 | -27,318,000 | -27,848,000 | -27,426,000 | -26,664,000 | -20,139,000 | -19,748,000 | -19,397,000 | -9,379,000 | -11,436,000 | ||||||||||||||||||||||||
federal home loan bank and federal reserve bank stock and other investments, at cost | 25,231,000 | 25,221,000 | 25,216,000 | 25,210,000 | 22,865,000 | 17,917,000 | 17,905,000 | 17,299,000 | ||||||||||||||||||||||||||
at september 30, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||
60,000,000 shares authorized at december 31, 2018; 43,509,406 shares issued | ||||||||||||||||||||||||||||||||||
and outstanding at september 30, 2019 and 43,288,750 shares issued and | ||||||||||||||||||||||||||||||||||
outstanding at december 31, 2018 | 302,983,000 | 301,550,000 | ||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost (fair value of 362,581 at | ||||||||||||||||||||||||||||||||||
march 31, 2019 and 366,175 at december 31, 2018) | 367,023,000 | |||||||||||||||||||||||||||||||||
at march 31, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||
and outstanding at march 31, 2019 and 43,288,750 shares issued and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost (fair value of 366,175 at | ||||||||||||||||||||||||||||||||||
december 31, 2018 and 394,292 at december 31, 2017) | 377,198,000 | |||||||||||||||||||||||||||||||||
at december 31, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||
and outstanding at december 31, 2018 and 38,200,883 shares issued and | ||||||||||||||||||||||||||||||||||
outstanding at december 31, 2017 | 300,844,000 | 300,208,000 | 299,224,000 | 219,208,000 | ||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost (fair value of 359,698 at | ||||||||||||||||||||||||||||||||||
september 30, 2018 and 394,292 at december 31, 2017) | 375,732,000 | |||||||||||||||||||||||||||||||||
at september 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||
and outstanding at september 30, 2018 and 38,200,883 shares issued and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost (fair value of 375,320 at june 30, 2018 | ||||||||||||||||||||||||||||||||||
and 394,292 at december 31, 2017) | 388,603,000 | 395,274,000 | ||||||||||||||||||||||||||||||||
at june 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||
and outstanding at june 30, 2018 and 38,200,883 shares issued and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost (fair value of 383,637 at march 31, 2018 | ||||||||||||||||||||||||||||||||||
at march 31, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||
and outstanding at march 31, 2018 and 38,200,883 shares issued and | ||||||||||||||||||||||||||||||||||
securities held-to-maturity, at amortized cost | 379,550,000 | 368,266,000 | ||||||||||||||||||||||||||||||||
assets: | ||||||||||||||||||||||||||||||||||
loans, gross | 844,928,000 | 738,297,000 | 762,328,000 | |||||||||||||||||||||||||||||||
securities | 165,884,000 | 191,220,000 | 226,043,000 | |||||||||||||||||||||||||||||||
interest bearing deposits in other financial institutions | 3,132,000 | 2,826,000 | 3,234,000 | |||||||||||||||||||||||||||||||
federal funds sold | 49,118,000 | 63,739,000 | 41,000,000 | 52,438,000 | 63,700,000 | 26,300,000 | ||||||||||||||||||||||||||||
total interest earning assets | 1,063,062,000 | 996,082,000 | 1,044,043,000 | |||||||||||||||||||||||||||||||
other assets | 87,175,000 | 64,904,000 | 51,593,000 | |||||||||||||||||||||||||||||||
liabilities and shareholders' equity: | ||||||||||||||||||||||||||||||||||
demand, interest bearing | 143,801,000 | 145,471,000 | 133,636,000 | 134,412,000 | 130,327,000 | 129,655,000 | ||||||||||||||||||||||||||||
time deposits, under 100 | 32,196,000 | 31,967,000 | 31,522,000 | 37,260,000 | 37,685,000 | 37,841,000 | ||||||||||||||||||||||||||||
time deposits, 100 and over | 119,812,000 | 107,387,000 | 101,198,000 | 115,104,000 | 113,609,000 | 124,760,000 | ||||||||||||||||||||||||||||
brokered time deposits, 100 and over | 49,846,000 | 34,234,000 | 35,764,000 | |||||||||||||||||||||||||||||||
notes payable to subsidiary grantor trusts | 23,702,000 | 23,702,000 | 23,702,000 | 23,702,000 | 23,702,000 | 23,702,000 | ||||||||||||||||||||||||||||
securities sold under agreement to repurchase | 14,529,000 | 25,429,000 | 21,800,000 | 40,748,000 | 32,700,000 | 40,700,000 | ||||||||||||||||||||||||||||
total interest bearing liabilities | 779,362,000 | 727,036,000 | 750,560,000 | |||||||||||||||||||||||||||||||
demand, noninterest bearing | 242,308,000 | 229,190,000 | 226,297,000 | 259,881,000 | 258,464,000 | 256,859,000 | ||||||||||||||||||||||||||||
other liabilities | 23,385,000 | 23,957,000 | 21,536,000 | |||||||||||||||||||||||||||||||
shareholders' equity | 148,835,000 | 118,095,000 | 105,208,000 | |||||||||||||||||||||||||||||||
net interest income / margin | 51,700,000 | 50,432,000 | 47,849,000 | |||||||||||||||||||||||||||||||
loans held for sale, at lower of cost or market | 23,108,000 | 39,664,000 | 35,702,000 | |||||||||||||||||||||||||||||||
loans, net of deferred costs | 713,700,000 | 737,979,000 | 713,691,000 | |||||||||||||||||||||||||||||||
federal home loan bank and federal reserve bank stock, at cost | 6,043,000 | |||||||||||||||||||||||||||||||||
company owned life insurance | 35,805,000 | 33,016,000 | 30,660,000 | |||||||||||||||||||||||||||||||
brokered deposits, 100 and over | 34,009,000 | 38,039,000 | 38,090,000 | |||||||||||||||||||||||||||||||
commitments and contingencies - see note 7 | ||||||||||||||||||||||||||||||||||
preferred stock, no par value; 10,000,000 shares authorized; none outstanding | ||||||||||||||||||||||||||||||||||
shares outstanding: 11,681,297 at september 30, 2006, and 11,807,649 at december 31, 2005 | 62,959,000 | |||||||||||||||||||||||||||||||||
unearned restricted stock award | -842,000 | -881,000 | ||||||||||||||||||||||||||||||||
see notes to consolidated financial statements | ||||||||||||||||||||||||||||||||||
allowance for loan and lease losses | -11,112,000 | |||||||||||||||||||||||||||||||||
federal home loan bank and federal reserve bank stock | 5,813,000 | 5,746,000 | ||||||||||||||||||||||||||||||||
preferred stock, no par value; 10,000,000 | ||||||||||||||||||||||||||||||||||
shares authorized; none outstanding | ||||||||||||||||||||||||||||||||||
shares outstanding: 11,779,858 at september 30, 2005 and | ||||||||||||||||||||||||||||||||||
11,669,837 at december 31, 2004 | 67,219,000 | 67,524,000 | ||||||||||||||||||||||||||||||||
unallocated esop shares | ||||||||||||||||||||||||||||||||||
see notes to condensed consolidated financial statements | ||||||||||||||||||||||||||||||||||
shares outstanding: 11,741,309 at june 30, 2005 and |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2019-03-31 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2005-12-31 | 2005-11-08 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||
net income | 15,117,000 | 14,698,000 | 6,389,000 | 11,626,000 | 10,621,000 | 10,166,000 | 13,328,000 | 15,795,000 | 16,403,000 | 18,917,000 | 20,799,000 | 18,069,000 | 14,821,000 | 12,866,000 | 13,965,000 | 13,718,000 | 8,813,000 | 11,204,000 | 12,146,000 | 915,000 | 8,809,000 | 8,583,000 | 4,257,000 | 4,195,000 |
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||
amortization of premiums and accretion of discounts on securities | -44,000 | 38,000 | -306,000 | -507,000 | -443,000 | -936,000 | -1,076,000 | -1,204,000 | ||||||||||||||||
gain on sale of sba loans | -30,000 | 0 | -87,000 | -98,000 | -125,000 | -178,000 | 0 | -207,000 | -199,000 | -76,000 | 0 | -308,000 | -27,000 | -156,000 | -491,000 | -594,000 | -83,000 | -550,000 | -139,000 | -80,000 | -235,000 | |||
proceeds from sale of sba loans originated for sale | 481,000 | 0 | 1,509,000 | 1,155,000 | 1,906,000 | 1,978,000 | 0 | 4,138,000 | 2,852,000 | 1,045,000 | 0 | 5,237,000 | 306,000 | 2,146,000 | 5,519,000 | 6,129,000 | 1,044,000 | 5,632,000 | 1,935,000 | 1,098,000 | 3,041,000 | 2,171,000 | ||
sba loans originated for sale | -448,000 | -169,000 | -694,000 | -1,304,000 | -2,507,000 | -1,541,000 | -1,364,000 | -1,635,000 | -2,998,000 | -1,305,000 | -375,000 | -4,729,000 | -1,729,000 | -934,000 | -3,717,000 | -4,869,000 | -2,471,000 | -6,217,000 | -2,363,000 | |||||
provision for credit losses on loans | 610,000 | 416,000 | 516,000 | 274,000 | 184,000 | |||||||||||||||||||
increase in cash surrender value of life insurance | -563,000 | -564,000 | -548,000 | -538,000 | -528,000 | -518,000 | -519,000 | -517,000 | -502,000 | -493,000 | -481,000 | -484,000 | -480,000 | -480,000 | -454,000 | -470,000 | -458,000 | -456,000 | -330,000 | -237,000 | -363,000 | -417,000 | -349,000 | -331,000 |
depreciation and amortization | 334,000 | 308,000 | 315,000 | 347,000 | 364,000 | 300,000 | 287,000 | 282,000 | 274,000 | 272,000 | 271,000 | 282,000 | 285,000 | 283,000 | 280,000 | 284,000 | 265,000 | 243,000 | 188,000 | 184,000 | 196,000 | 201,000 | 190,000 | 250,000 |
amortization of other intangible assets | 453,000 | 454,000 | 454,000 | 453,000 | 527,000 | 553,000 | 602,000 | 601,000 | 601,000 | 602,000 | 659,000 | 659,000 | 658,000 | 659,000 | 755,000 | 754,000 | 754,000 | 733,000 | 553,000 | 464,000 | 241,000 | 296,000 | ||
stock option expense | 70,000 | 73,000 | 92,000 | 117,000 | 121,000 | 145,000 | 151,000 | 148,000 | 154,000 | 147,000 | 149,000 | 153,000 | 144,000 | 149,000 | 151,000 | 150,000 | 146,000 | 132,000 | 166,000 | 175,000 | 176,000 | 198,000 | ||
rsus and prsus expense | 262,000 | 506,000 | -81,000 | 278,000 | 402,000 | 198,000 | 148,000 | 148,000 | ||||||||||||||||
amortization of restricted stock awards | 154,000 | 157,000 | 165,000 | 145,000 | 201,000 | 311,000 | 325,000 | 321,000 | 376,000 | 382,000 | 354,000 | 1,234,000 | 477,000 | 518,000 | 522,000 | 522,000 | 438,000 | 458,000 | 271,000 | 283,000 | 228,000 | 228,000 | ||
amortization of subordinated debt issuance costs | 39,000 | 38,000 | 37,000 | 38,000 | 38,000 | 37,000 | 39,000 | 38,000 | 38,000 | 37,000 | 38,000 | 38,000 | 50,000 | 46,000 | 47,000 | 46,000 | 46,000 | 46,000 | 45,000 | 46,000 | 46,000 | |||
gain on proceeds from company-owned life insurance | 0 | -25,000 | 0 | 0 | -104,000 | -109,000 | -396,000 | -66,000 | ||||||||||||||||
effect of changes in: | ||||||||||||||||||||||||
accrued interest receivable and other assets | -1,236,000 | 582,000 | -10,070,000 | 3,388,000 | 3,842,000 | 4,861,000 | 6,811,000 | -5,144,000 | 1,263,000 | -519,000 | 4,203,000 | -5,179,000 | -5,099,000 | 7,053,000 | 6,897,000 | 804,000 | -2,197,000 | 623,000 | 5,145,000 | -6,012,000 | 3,288,000 | 1,088,000 | -5,242,000 | -2,028,000 |
accrued interest payable and other liabilities | 4,773,000 | 2,330,000 | 10,313,000 | -542,000 | 69,000 | -8,222,000 | -23,577,000 | 4,013,000 | 13,454,000 | 12,175,000 | 2,259,000 | 822,000 | 316,000 | -5,475,000 | -6,175,000 | 1,619,000 | 4,557,000 | -1,085,000 | -4,062,000 | 3,301,000 | -2,297,000 | 1,373,000 | 2,230,000 | 1,890,000 |
net cash from operating activities | 19,972,000 | 18,867,000 | 8,004,000 | 14,832,000 | 15,819,000 | 7,338,000 | -4,581,000 | 16,845,000 | 30,788,000 | 29,958,000 | 27,141,000 | 16,180,000 | 9,749,000 | 16,783,000 | 17,445,000 | 18,285,000 | 10,863,000 | 10,256,000 | 13,010,000 | 4,241,000 | 12,434,000 | 11,986,000 | -65,000 | -369,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 19,972,000 | 18,867,000 | 8,004,000 | 14,832,000 | 15,819,000 | 7,338,000 | -4,581,000 | 16,845,000 | 30,788,000 | 29,958,000 | 27,141,000 | 16,180,000 | 9,749,000 | 16,783,000 | 17,445,000 | 18,285,000 | 10,863,000 | 10,256,000 | 13,010,000 | 4,241,000 | 12,434,000 | 11,986,000 | -65,000 | -369,000 |
cash flows from investing activities: | ||||||||||||||||||||||||
purchase of securities available-for-sale | -206,920,000 | -137,017,000 | -59,975,000 | -151,801,000 | -11,696,000 | -163,028,000 | -229,341,000 | -21,656,000 | 0 | -15,193,000 | -35,949,000 | |||||||||||||
maturities/paydowns/calls of securities available-for-sale | 23,825,000 | 35,538,000 | 127,097,000 | 39,687,000 | 11,556,000 | 39,596,000 | 22,731,000 | 30,107,000 | 3,162,000 | 3,014,000 | 3,439,000 | 4,386,000 | 5,957,000 | 8,099,000 | 17,391,000 | 24,297,000 | 49,738,000 | 37,765,000 | 11,242,000 | 15,386,000 | 14,957,000 | 15,675,000 | ||
maturities/paydowns/calls of securities held-to-maturity | 14,917,000 | 16,218,000 | 15,320,000 | 13,144,000 | 13,968,000 | 14,072,000 | 13,876,000 | 17,146,000 | 15,869,000 | 16,485,000 | 15,600,000 | 19,593,000 | 22,492,000 | 30,709,000 | 29,976,000 | 24,050,000 | 26,196,000 | 30,601,000 | 9,808,000 | 12,653,000 | 13,002,000 | 12,707,000 | ||
net change in loans | -71,421,000 | -46,966,000 | -47,580,000 | 4,812,000 | -81,898,000 | 14,022,000 | -64,950,000 | 3,054,000 | -26,599,000 | 36,364,000 | -44,582,000 | -60,126,000 | 19,039,000 | 63,807,000 | -30,458,000 | 34,113,000 | 20,094,000 | -84,038,000 | 38,618,000 | -29,659,000 | -8,559,000 | 610,000 | -24,158,000 | |
changes in fhlb stock and other investments | -2,000 | -3,000 | -3,000 | -4,000 | -3,000 | -4,000 | -5,000 | -4,000 | -5,000 | -4,000 | ||||||||||||||
proceeds from redemption of company-owned life insurance | -1,000 | 662,000 | -8,000 | 0 | 478,000 | 463,000 | 882,000 | 624,000 | ||||||||||||||||
purchase of premises and equipment | -119,000 | 28,000 | -307,000 | 21,000 | -106,000 | -429,000 | -437,000 | -792,000 | -329,000 | -113,000 | -144,000 | -117,000 | -298,000 | -224,000 | -98,000 | -65,000 | -85,000 | -4,000 | -49,000 | 14,000 | -46,000 | -145,000 | ||
net cash from investing activities | -239,720,000 | -132,202,000 | 34,552,000 | -94,141,000 | -86,747,000 | 67,257,000 | -28,123,000 | 50,461,000 | -7,902,000 | 55,746,000 | -358,169,000 | -55,422,000 | 59,614,000 | 37,887,000 | -34,584,000 | 28,115,000 | -10,310,000 | |||||||
cash flows from financing activities: | ||||||||||||||||||||||||
net change in deposits | 126,540,000 | 149,212,000 | -55,934,000 | -136,763,000 | 90,498,000 | 66,202,000 | -196,999,000 | 74,685,000 | 56,234,000 | 54,934,000 | -293,661,000 | 69,621,000 | -76,261,000 | -69,507,000 | 33,031,000 | 381,909,000 | 65,370,000 | 364,616,000 | 2,712,000 | -155,201,000 | -60,797,000 | 105,873,000 | ||
exercise of stock options | 461,000 | 177,000 | 28,000 | 986,000 | 212,000 | 385,000 | 223,000 | 0 | 314,000 | 683,000 | 1,180,000 | 21,000 | 448,000 | 401,000 | 400,000 | 285,000 | 464,000 | 320,000 | 269,000 | 1,553,000 | 449,000 | 692,000 | ||
payment of cash dividends | -7,967,000 | -7,967,000 | -7,996,000 | -7,987,000 | -7,969,000 | -7,952,000 | -7,943,000 | -7,941,000 | -7,940,000 | -7,916,000 | -7,899,000 | -7,890,000 | -7,858,000 | -7,848,000 | -7,838,000 | -7,827,000 | -7,816,000 | -7,789,000 | -5,196,000 | -4,743,000 | -4,206,000 | -3,814,000 | ||
repurchase shares of the company common stock | 0 | -2,137,000 | ||||||||||||||||||||||
net cash from financing activities | 119,034,000 | 139,285,000 | -65,814,000 | -143,764,000 | 82,741,000 | 58,635,000 | -204,719,000 | 66,744,000 | -251,392,000 | 347,701,000 | 25,593,000 | 374,367,000 | 58,018,000 | 357,147,000 | -2,215,000 | -158,391,000 | -64,554,000 | 102,705,000 | -37,351,000 | 57,455,000 | ||||
net increase in cash and cash equivalents | -100,714,000 | 25,950,000 | -23,258,000 | -223,073,000 | 11,813,000 | 133,230,000 | -237,423,000 | 134,050,000 | -228,506,000 | 433,405,000 | -375,148,000 | -194,834,000 | -340,580,000 | -89,051,000 | -315,131,000 | 293,025,000 | -114,732,000 | 311,981,000 | 70,409,000 | -14,233,000 | ||||
cash and cash equivalents, beginning of period | 0 | 0 | 0 | 968,123,000 | 0 | 408,129,000 | 0 | 0 | 0 | 306,603,000 | 0 | 0 | 0 | 1,306,216,000 | 0 | 0 | 0 | 1,131,073,000 | 164,568,000 | 0 | ||||
cash and cash equivalents, end of period | -100,714,000 | 25,950,000 | -23,258,000 | 745,050,000 | 11,813,000 | 541,359,000 | -237,423,000 | 134,050,000 | -228,506,000 | 740,008,000 | -375,148,000 | -194,834,000 | -340,580,000 | 1,217,165,000 | -315,131,000 | 293,025,000 | -114,732,000 | 1,443,054,000 | 234,977,000 | 46,776,000 | ||||
supplemental disclosures of cash flow information: | ||||||||||||||||||||||||
interest paid | 17,613,000 | 16,622,000 | 18,966,000 | 18,875,000 | 21,097,000 | 16,350,000 | 16,947,000 | 12,607,000 | 11,623,000 | 5,657,000 | 3,776,000 | 1,557,000 | 2,209,000 | 1,112,000 | 2,386,000 | 1,164,000 | 2,222,000 | 1,242,000 | 1,724,000 | 2,329,000 | 977,000 | 1,070,000 | ||
income taxes paid | 7,380,000 | 3,235,000 | 877,000 | 28,261,000 | 14,000 | 6,004,000 | 7,018,000 | 2,980,000 | 8,000 | 8,659,000 | 4,000 | 3,645,000 | ||||||||||||
supplemental schedule of non-cash activity: | ||||||||||||||||||||||||
recording of right of use assets in exchange for lease obligations | 0 | 0 | ||||||||||||||||||||||
transfer of loans held-for-sale to loan portfolio | 0 | 0 | 0 | 738,000 | 0 | 0 | 0 | 480,000 | 0 | |||||||||||||||
| ||||||||||||||||||||||||
benefit from credit losses on loans | 289,000 | |||||||||||||||||||||||
purchase of securities held-to-maturity | -27,101,000 | 0 | -9,837,000 | -109,610,000 | -151,669,000 | -140,543,000 | -141,439,000 | -40,366,000 | -11,884,000 | -5,022,000 | -26,876,000 | |||||||||||||
purchase of mortgage loans | -37,412,000 | -73,470,000 | -223,784,000 | -41,938,000 | ||||||||||||||||||||
redemption of subordinated debt | 0 | 0 | ||||||||||||||||||||||
issuance of subordinated debt, net of issuance costs | 0 | 0 | -46,000 | |||||||||||||||||||||
net change in short-term borrowings | 300,000,000 | |||||||||||||||||||||||
benefit from (recapture of) credit losses on loans | 260,000 | 32,000 | 508,000 | 1,006,000 | -181,000 | -567,000 | ||||||||||||||||||
recording of right to use assets in exchange for lease obligations | 157,000 | 384,000 | 985,000 | 9,566,000 | ||||||||||||||||||||
amortization of discounts and premiums on securities | -1,258,000 | -1,243,000 | -620,000 | 235,000 | 675,000 | 865,000 | 815,000 | 898,000 | 1,071,000 | 516,000 | 989,000 | 1,131,000 | 1,139,000 | |||||||||||
income taxes paid (refunds) | -654,000 | 9,341,000 | -149,000 | |||||||||||||||||||||
gain on sale of securities available-for-sale | ||||||||||||||||||||||||
loss on the disposition of foreclosed assets | ||||||||||||||||||||||||
proceeds from sales of securities available-for-sale | 55,537,000 | 38,754,000 | 0 | |||||||||||||||||||||
proceeds from the disposition of foreclosed assets | ||||||||||||||||||||||||
changes in federal home loan bank stock and other investments | -5,000 | -4,000 | -4,000 | -5,000 | -5,000 | -4,000 | 1,031,000 | -4,000 | -606,000 | |||||||||||||||
net cash (used-in) provided by financing activities | -300,380,000 | 61,752,000 | -84,397,000 | -76,954,000 | ||||||||||||||||||||
net cash (used in) investing activities | -272,766,000 | -265,932,000 | -28,880,000 | |||||||||||||||||||||
gain on the disposition of foreclosed assets | ||||||||||||||||||||||||
cash received in bank acquisition, net of cash paid | ||||||||||||||||||||||||
payment for extinguishment penalty | ||||||||||||||||||||||||
common stock offering costs | ||||||||||||||||||||||||
summary of assets acquired and liabilities assumed through acquisitions: | ||||||||||||||||||||||||
cash and cash equivalents, net of cash paid | ||||||||||||||||||||||||
securities available-for-sale | ||||||||||||||||||||||||
securities held-to-maturity | ||||||||||||||||||||||||
net loans | ||||||||||||||||||||||||
premises and equipment | ||||||||||||||||||||||||
goodwill | ||||||||||||||||||||||||
other intangible assets | ||||||||||||||||||||||||
company owned life insurance | ||||||||||||||||||||||||
other assets | ||||||||||||||||||||||||
deposits | ||||||||||||||||||||||||
subordinated debt | ||||||||||||||||||||||||
other borrowings | ||||||||||||||||||||||||
other liabilities | ||||||||||||||||||||||||
common stock issued and stock options exchanged to acquire presidio bank, net of offering costs | ||||||||||||||||||||||||
provision for (recapture of) credit losses on loans | -1,512,000 | |||||||||||||||||||||||
provision (credit) for credit losses on loans | ||||||||||||||||||||||||
net cash provided (used in) by investing activities | ||||||||||||||||||||||||
benefit from credit losses on loans for the six months ended june 30, 2020, provision (credit) for loan losses for the | ||||||||||||||||||||||||
six months ended june 30, 2019 | ||||||||||||||||||||||||
(gain) on sale of securities available-for-sale | ||||||||||||||||||||||||
(gain) on sale of sba loans | ||||||||||||||||||||||||
provision (credit) for loan losses | -1,061,000 | |||||||||||||||||||||||
securities avaiable-for-sale | ||||||||||||||||||||||||
common stock issued to acquire tri-valley bank and united american bank | ||||||||||||||||||||||||
due to broker for securities purchased | 5,439,000 | |||||||||||||||||||||||
(gain) loss on sale of securities available-for-sale | -179,000 | -87,000 | 0 | |||||||||||||||||||||
benefit from loan losses | 7,198,000 | 506,000 | ||||||||||||||||||||||
gain on proceeds from company owned life insurance | ||||||||||||||||||||||||
proceeds from sale of foreclosed assets | ||||||||||||||||||||||||
proceeds from company-owned life insurance | ||||||||||||||||||||||||
short-term borrowings | ||||||||||||||||||||||||
supplemental schedule of non-cash investing activity: | ||||||||||||||||||||||||
loans transferred to foreclosed assets | ||||||||||||||||||||||||
common stock issued to acquire tri-valley and united american bank | ||||||||||||||||||||||||
net decrease in cash and cash equivalents | 80,107,000 | |||||||||||||||||||||||
net change in sba loans originated for sale | -2,246,000 | -2,906,000 | ||||||||||||||||||||||
cash and cash equivalents, beginning of year | 316,222,000 | 0 | ||||||||||||||||||||||
cash and cash equivalents, end of year | 301,989,000 | 80,107,000 | ||||||||||||||||||||||
(gain) loss on sale of sba loans | -147,000 | |||||||||||||||||||||||
proceeds from company owned life insurance | ||||||||||||||||||||||||
repayment of short-term borrowings | ||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided by | ||||||||||||||||||||||||
operating activities: | ||||||||||||||||||||||||
net gain/loss on disposals of property and equipment | ||||||||||||||||||||||||
gain on sale of leased equipment | 0 | 0 | ||||||||||||||||||||||
gain on sales of securities available-for-sale | ||||||||||||||||||||||||
deferred income tax benefit | ||||||||||||||||||||||||
non-cash compensation expense related to esop plan | ||||||||||||||||||||||||
amortization of restricted stock award | 39,000 | 39,000 | ||||||||||||||||||||||
amortization (accretion) of discounts and premiums on securities | ||||||||||||||||||||||||
gain on sale of loans | -711,000 | -702,000 | ||||||||||||||||||||||
proceeds from sales of loans held for sale | 14,486,000 | 12,543,000 | ||||||||||||||||||||||
originations of loans held for sale | -17,500,000 | -25,574,000 | ||||||||||||||||||||||
maturities of loans held for sale | ||||||||||||||||||||||||
purchases of securities available-for-sale | ||||||||||||||||||||||||
sale of leased equipment | 298,000 | 0 | ||||||||||||||||||||||
purchases of company owned life insurance | ||||||||||||||||||||||||
purchase of restricted stock and other investments | ||||||||||||||||||||||||
payment of other liability | ||||||||||||||||||||||||
common stock repurchased | ||||||||||||||||||||||||
payment of cash dividend | ||||||||||||||||||||||||
net change in other borrowings | ||||||||||||||||||||||||
cash paid during the year for: | ||||||||||||||||||||||||
interest | 4,214,000 | 4,781,000 | ||||||||||||||||||||||
income taxes | 10,978,000 | 1,180,000 | ||||||||||||||||||||||
transfer of commerical loans to loans held-for-sale | ||||||||||||||||||||||||
transfer of commercial loan held for sale to commercial loans | ||||||||||||||||||||||||
see notes to consolidated financial statements | ||||||||||||||||||||||||
benefit from deferred income taxes | ||||||||||||||||||||||||
amortization / accretion of discounts and premiums on securities | ||||||||||||||||||||||||
other | ||||||||||||||||||||||||
net decrease (increase) in loans | ||||||||||||||||||||||||
redemption (purchase) of restricted stock and other investments | ||||||||||||||||||||||||
net increase in deposits | -35,435,000 | 65,760,000 | ||||||||||||||||||||||
cash flows from operating activities | ||||||||||||||||||||||||
provision for loan and lease losses | ||||||||||||||||||||||||
gain on sale of securities available for sale | ||||||||||||||||||||||||
non-cash compensation expense related to esop | 0 | |||||||||||||||||||||||
amortization/accreation of discounts and premiums on securities | 72,000 | |||||||||||||||||||||||
maturities/paydowns/payoffs of loans held for sale | 9,771,000 | |||||||||||||||||||||||
change in: | ||||||||||||||||||||||||
cash flows from investing activities | ||||||||||||||||||||||||
purchases of securities available for sale | 0 | |||||||||||||||||||||||
maturities/paydowns/calls of securities available for sale | 16,041,000 | |||||||||||||||||||||||
proceeds from sales of securities available for sale | ||||||||||||||||||||||||
purchase of company owned life insurance | -2,025,000 | |||||||||||||||||||||||
purchases of federal home loan bank stock | -67,000 | |||||||||||||||||||||||
purchases of premises and equipment | -101,000 | |||||||||||||||||||||||
cash flows from financing activities | ||||||||||||||||||||||||
net changes in securities sold under agreement to repurchase | -8,000,000 | |||||||||||||||||||||||
issuance of common stock | ||||||||||||||||||||||||
redemption of common stock | -1,858,000 | |||||||||||||||||||||||
net change in cash and cash equivalents | ||||||||||||||||||||||||
supplemental disclosures of cash paid during the period for: | ||||||||||||||||||||||||
see notes to condensed consolidated financial statements | ||||||||||||||||||||||||
provision for loan losses | ||||||||||||||||||||||||
net proceeds from issuance of common stock |