0001558370-24-002154 | 10-K | XBRL Viewer | Crossfirst Bankshares INC

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Loans and Allowance for Credit Losses - Company's Loan Portfolio Internal Rating Categories Loan Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	$ 1,005,445	$ 1,502,872
Fiscal Year Before Latest Fiscal Year	1,322,974	980,869
Two Years Before Latest Fiscal Year	678,928	457,711
Three Years Before Latest Fiscal Year	404,847	253,347
Four Years Before Latest Fiscal Year	212,136	177,797
Five Or More Years Before Latest Fiscal Year	173,803	156,029
Revolving Loans	2,071,645	1,664,787
Revolving Loans Converted to Term Loans	257,912	179,317
Total Loans Receivable	6,127,690	5,372,729
Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year	746	2,583
Two Years Before Latest Fiscal Year	6,499
Three Years Before Latest Fiscal Year	1,722	6
Four Years Before Latest Fiscal Year		1,383
Five Or More Years Before Latest Fiscal Year		12
Revolving Loans	9,127	7,097
Revolving Loans Converted to Term Loans	357	191
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	966,682	1,465,996
Fiscal Year Before Latest Fiscal Year	1,292,876	936,642
Two Years Before Latest Fiscal Year	638,243	436,548
Three Years Before Latest Fiscal Year	389,881	247,422
Four Years Before Latest Fiscal Year	191,104	164,096
Five Or More Years Before Latest Fiscal Year	164,112	149,745
Revolving Loans	2,023,942	1,593,119
Revolving Loans Converted to Term Loans	235,006	144,606
Total Loans Receivable	5,901,846	5,138,174
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	12,537	26,007
Fiscal Year Before Latest Fiscal Year	27,475	40,657
Two Years Before Latest Fiscal Year	25,372	15,326
Three Years Before Latest Fiscal Year	4,597	4,507
Four Years Before Latest Fiscal Year	19,461	11,513
Five Or More Years Before Latest Fiscal Year	6,531	4,425
Revolving Loans	9,748	52,290
Revolving Loans Converted to Term Loans	3,751	12,362
Total Loans Receivable	109,472	167,087
Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	26,226	10,869
Fiscal Year Before Latest Fiscal Year	1,877	987
Two Years Before Latest Fiscal Year	8,814	5,837
Three Years Before Latest Fiscal Year	8,647	1,412
Four Years Before Latest Fiscal Year	1,571	805
Five Or More Years Before Latest Fiscal Year	3,160	1,847
Revolving Loans	28,828	12,281
Revolving Loans Converted to Term Loans	18,798	22,158
Total Loans Receivable	97,921	56,196
Substandard \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year	746	2,583
Two Years Before Latest Fiscal Year	6,499
Three Years Before Latest Fiscal Year	1,722	6
Four Years Before Latest Fiscal Year		1,383
Revolving Loans	6,848	6,479
Revolving Loans Converted to Term Loans	357	191
Total Loans Receivable	16,172	10,642
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	2,279	618
Total Loans Receivable	2,279	618
Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Five Or More Years Before Latest Fiscal Year		12
Total Loans Receivable		12
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	394,457	468,784
Fiscal Year Before Latest Fiscal Year	260,984	305,002
Two Years Before Latest Fiscal Year	204,669	72,154
Three Years Before Latest Fiscal Year	57,837	54,732
Four Years Before Latest Fiscal Year	40,820	55,665
Five Or More Years Before Latest Fiscal Year	19,642	21,045
Revolving Loans	1,108,604	957,254
Revolving Loans Converted to Term Loans	73,199	40,296
Total Loans Receivable	2,160,212	1,974,932
Commercial and industrial \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year		104
Two Years Before Latest Fiscal Year	266
Three Years Before Latest Fiscal Year	24	6
Four Years Before Latest Fiscal Year		1,383
Five Or More Years Before Latest Fiscal Year		12
Revolving Loans	8,839	6,479
Revolving Loans Converted to Term Loans	178
Commercial and industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	379,360	465,963
Fiscal Year Before Latest Fiscal Year	258,182	281,166
Two Years Before Latest Fiscal Year	193,302	55,934
Three Years Before Latest Fiscal Year	54,901	50,445
Four Years Before Latest Fiscal Year	38,762	48,595
Five Or More Years Before Latest Fiscal Year	18,801	20,648
Revolving Loans	1,061,365	890,109
Revolving Loans Converted to Term Loans	53,015	19,089
Total Loans Receivable	2,057,688	1,831,949
Commercial and industrial \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	2,442	2,531
Fiscal Year Before Latest Fiscal Year	925	23,055
Two Years Before Latest Fiscal Year	6,000	14,573
Three Years Before Latest Fiscal Year	2,674	2,951
Four Years Before Latest Fiscal Year	1,460	4,947
Five Or More Years Before Latest Fiscal Year	26	86
Revolving Loans	9,748	49,861
Revolving Loans Converted to Term Loans	3,175	41
Total Loans Receivable	26,450	98,045
Commercial and industrial \| Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	12,655	290
Fiscal Year Before Latest Fiscal Year	1,877	677
Two Years Before Latest Fiscal Year	5,101	1,647
Three Years Before Latest Fiscal Year	238	1,330
Four Years Before Latest Fiscal Year	598	740
Five Or More Years Before Latest Fiscal Year	815	299
Revolving Loans	28,652	10,805
Revolving Loans Converted to Term Loans	16,831	21,166
Total Loans Receivable	66,767	36,954
Commercial and industrial \| Substandard \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year		104
Two Years Before Latest Fiscal Year	266
Three Years Before Latest Fiscal Year	24	6
Four Years Before Latest Fiscal Year		1,383
Revolving Loans	6,848	6,479
Revolving Loans Converted to Term Loans	178
Total Loans Receivable	7,316	7,972
Commercial and industrial \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	1,991
Total Loans Receivable	1,991
Commercial and industrial \| Loss
Financing Receivable, Credit Quality Indicator [Line Items]
Five Or More Years Before Latest Fiscal Year		12
Total Loans Receivable		12
Energy
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	4,581	7,585
Fiscal Year Before Latest Fiscal Year	6,868	306
Two Years Before Latest Fiscal Year		228
Three Years Before Latest Fiscal Year	156
Revolving Loans	202,506	164,928
Revolving Loans Converted to Term Loans	107	171
Total Loans Receivable	214,218	173,218
Energy \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	288	618
Energy \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	4,581	7,585
Fiscal Year Before Latest Fiscal Year	6,868	306
Two Years Before Latest Fiscal Year		228
Three Years Before Latest Fiscal Year	156
Revolving Loans	202,218	162,834
Revolving Loans Converted to Term Loans	107	171
Total Loans Receivable	213,930	171,124
Energy \| Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans		1,476
Total Loans Receivable		1,476
Energy \| Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans	288	618
Total Loans Receivable	288	618
Commercial real estate - owner-occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	69,308	96,987
Fiscal Year Before Latest Fiscal Year	98,946	134,092
Two Years Before Latest Fiscal Year	128,410	57,462
Three Years Before Latest Fiscal Year	65,454	50,950
Four Years Before Latest Fiscal Year	51,555	28,241
Five Or More Years Before Latest Fiscal Year	37,431	24,080
Revolving Loans	76,782	28,814
Revolving Loans Converted to Term Loans	38,367	16,493
Total Loans Receivable	566,253	437,119
Commercial real estate - owner-occupied \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Two Years Before Latest Fiscal Year	204
Commercial real estate - owner-occupied \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	56,236	79,695
Fiscal Year Before Latest Fiscal Year	92,148	127,489
Two Years Before Latest Fiscal Year	119,684	56,607
Three Years Before Latest Fiscal Year	62,072	49,620
Four Years Before Latest Fiscal Year	49,992	28,143
Five Or More Years Before Latest Fiscal Year	32,936	20,299
Revolving Loans	76,782	28,814
Revolving Loans Converted to Term Loans	36,263	14,024
Total Loans Receivable	526,113	404,691
Commercial real estate - owner-occupied \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	10,095	17,292
Fiscal Year Before Latest Fiscal Year	6,798	6,603
Two Years Before Latest Fiscal Year	8,522	452
Three Years Before Latest Fiscal Year	1,747	1,330
Four Years Before Latest Fiscal Year	793	98
Five Or More Years Before Latest Fiscal Year	2,448	2,486
Revolving Loans Converted to Term Loans	576	2,469
Total Loans Receivable	30,979	30,730
Commercial real estate - owner-occupied \| Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	2,977
Two Years Before Latest Fiscal Year		403
Three Years Before Latest Fiscal Year	1,635
Four Years Before Latest Fiscal Year	770
Five Or More Years Before Latest Fiscal Year	2,047	1,295
Revolving Loans Converted to Term Loans	1,528
Total Loans Receivable	8,957	1,698
Commercial real estate - owner-occupied \| Substandard \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Two Years Before Latest Fiscal Year	204
Total Loans Receivable	204
Commercial real estate - non-owner-occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	487,579	843,896
Fiscal Year Before Latest Fiscal Year	862,407	452,692
Two Years Before Latest Fiscal Year	258,161	200,811
Three Years Before Latest Fiscal Year	167,169	101,909
Four Years Before Latest Fiscal Year	82,748	56,354
Five Or More Years Before Latest Fiscal Year	54,412	76,046
Revolving Loans	626,998	460,726
Revolving Loans Converted to Term Loans	146,060	122,166
Total Loans Receivable	2,685,534	2,314,600
Commercial real estate - non-owner-occupied \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year	713	2,479
Two Years Before Latest Fiscal Year	6,029
Three Years Before Latest Fiscal Year	1,698
Commercial real estate - non-owner-occupied \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	477,238	827,420
Fiscal Year Before Latest Fiscal Year	842,755	442,176
Two Years Before Latest Fiscal Year	242,405	200,090
Three Years Before Latest Fiscal Year	161,845	101,827
Four Years Before Latest Fiscal Year	65,540	49,834
Five Or More Years Before Latest Fiscal Year	50,062	73,940
Revolving Loans	626,998	458,297
Revolving Loans Converted to Term Loans	145,621	111,322
Total Loans Receivable	2,612,464	2,264,906
Commercial real estate - non-owner-occupied \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year		5,931
Fiscal Year Before Latest Fiscal Year	18,939	7,727
Two Years Before Latest Fiscal Year	7,331	114
Four Years Before Latest Fiscal Year	17,208	6,460
Five Or More Years Before Latest Fiscal Year	4,052	1,853
Revolving Loans		2,429
Revolving Loans Converted to Term Loans		9,852
Total Loans Receivable	47,530	34,366
Commercial real estate - non-owner-occupied \| Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	10,341	10,545
Fiscal Year Before Latest Fiscal Year		310
Two Years Before Latest Fiscal Year	2,396	607
Three Years Before Latest Fiscal Year	3,626	82
Four Years Before Latest Fiscal Year		60
Five Or More Years Before Latest Fiscal Year	298	253
Revolving Loans Converted to Term Loans	439	992
Total Loans Receivable	17,100	12,849
Commercial real estate - non-owner-occupied \| Substandard \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year	713	2,479
Two Years Before Latest Fiscal Year	6,029
Three Years Before Latest Fiscal Year	1,698
Total Loans Receivable	8,440	2,479
Residential real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	37,929	77,703
Fiscal Year Before Latest Fiscal Year	87,732	87,430
Two Years Before Latest Fiscal Year	87,226	124,413
Three Years Before Latest Fiscal Year	114,154	45,491
Four Years Before Latest Fiscal Year	36,792	37,395
Five Or More Years Before Latest Fiscal Year	62,288	34,852
Revolving Loans	37,795	31,892
Revolving Loans Converted to Term Loans	179	191
Total Loans Receivable	464,095	439,367
Residential real estate \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	179	191
Residential real estate \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	37,676	77,416
Fiscal Year Before Latest Fiscal Year	86,919	84,158
Two Years Before Latest Fiscal Year	82,390	121,078
Three Years Before Latest Fiscal Year	110,853	45,265
Four Years Before Latest Fiscal Year	36,589	37,395
Five Or More Years Before Latest Fiscal Year	62,288	34,852
Revolving Loans	37,619	31,892
Total Loans Receivable	454,334	432,056
Residential real estate \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year		253
Fiscal Year Before Latest Fiscal Year	813	3,272
Two Years Before Latest Fiscal Year	3,519	187
Three Years Before Latest Fiscal Year	176	226
Total Loans Receivable	4,508	3,938
Residential real estate \| Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	253	34
Two Years Before Latest Fiscal Year	1,317	3,148
Three Years Before Latest Fiscal Year	3,125
Four Years Before Latest Fiscal Year	203
Revolving Loans	176
Total Loans Receivable	5,074	3,182
Residential real estate \| Substandard \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Revolving Loans Converted to Term Loans	179	191
Total Loans Receivable	179	191
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	11,591	7,917
Fiscal Year Before Latest Fiscal Year	6,037	1,347
Two Years Before Latest Fiscal Year	462	2,643
Three Years Before Latest Fiscal Year	77	265
Four Years Before Latest Fiscal Year	221	142
Five Or More Years Before Latest Fiscal Year	30	6
Revolving Loans	18,960	21,173
Total Loans Receivable	37,378	33,493
Consumer \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year	33
Consumer \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current Fiscal Year	11,591	7,917
Fiscal Year Before Latest Fiscal Year	6,004	1,347
Two Years Before Latest Fiscal Year	462	2,611
Three Years Before Latest Fiscal Year	54	265
Four Years Before Latest Fiscal Year	221	129
Five Or More Years Before Latest Fiscal Year	25	6
Revolving Loans	18,960	21,173
Total Loans Receivable	37,317	33,448
Consumer \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Four Years Before Latest Fiscal Year		8
Five Or More Years Before Latest Fiscal Year	5
Total Loans Receivable	5	8
Consumer \| Substandard \| Accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Two Years Before Latest Fiscal Year		32
Three Years Before Latest Fiscal Year	23
Four Years Before Latest Fiscal Year		5
Total Loans Receivable	23	$ 37
Consumer \| Substandard \| Non-accrual
Financing Receivable, Credit Quality Indicator [Line Items]
Fiscal Year Before Latest Fiscal Year	33
Total Loans Receivable	$ 33

Disclosure about Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Disclosure about Fair Value of Financial Instruments

Disclosure about Fair Value of Financial Instruments

Note 20: Disclosure about Fair Value of Financial Instruments

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:

Level 1

Quoted prices in active markets for identical assets or liabilities

Level 2

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3

Unobservable inputs supported by little or no market activity and significant to the fair value of the assets or liabilities.

Recurring Measurements

The following list presents the assets and liabilities recognized in the accompanying consolidated statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2023 and 2022:


	Fair Value Description	Valuation Hierarchy Level	Where Fair Value Balance Can Be Found
Available-for-sale securities and equity securities	Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows.	Level 2	Note 3: Securities
Derivatives	Fair value of the interest rate swaps is obtained from independent pricing services based on quoted market prices for similar derivative contracts.	Level 2	Note 8: Derivatives

Nonrecurring Measurements

The following tables present the fair value measurement on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2023 and 2022:

December 31, 2023

Fair Value Measurements Using

Quoted Prices in

Active Markets for

Significant Other

Unobservable

Identical Assets

Observable Inputs

Inputs

Fair Value

(Level 1)

(Level 2)

(Level 3)

(Dollars in thousands)

Collateral-dependent impaired loans

10,570

—

10,570


			December 31, 2022
			Fair Value Measurements Using
			Quoted Prices in
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)

	(Dollars in thousands)
Collateral-dependent impaired loans	$	8,728	$	—	$	—	$	8,728
Foreclosed assets held-for-sale	$	1,745	$	—	$	—	$	1,745

Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated statements of financial condition, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below.

Collateral-Dependent Impaired Loans, Net of ACL - The estimated fair value of collateral-dependent loans is based on the appraised fair value of the collateral, less estimated cost to sell. If the fair value of the collateral is below the loan’s amortized cost, the ACL is netted against the loan balance. Collateral-dependent loans are classified within Level 3 of the fair value hierarchy. The Company considers the appraisal or evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral dependent loans are obtained when the loan is determined to be collateral dependent and subsequently as deemed necessary by the Office of the Chief Credit Officer. Appraisals are reviewed for accuracy and consistency by management. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to consider lack of marketability and estimated costs to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts and estimates are developed by the Office of the Chief Credit Officer by comparison to historical results.

Foreclosed Assets Held-for-Sale - The fair value of foreclosed assets held-for-sale is based on the appraised fair value of the collateral, less estimated cost to sell.

Unobservable (Level 3) Inputs

The following tables present quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements at December 31, 2023 and 2022:


	December 31, 2023
				Unobservable	Range
	Fair Value		Valuation Techniques	Inputs	(Weighted Average)

	(Dollars in thousands)
Collateral-dependent impaired loans	$	10,570	Appraisal of collateral	Appraisal adjustments⁽¹⁾	0% - 56% (22%)

(1)	Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.


	December 31, 2022
				Unobservable	Range
	Fair Value		Valuation Techniques	Inputs	(Weighted Average)

	(Dollars in thousands)
Collateral-dependent impaired loans	$	8,728	Appraisal of collateral	Appraisal adjustments⁽¹⁾	0% - 100% (13%)

Foreclosed assets held-for-sale	$	1,745	Market comparable properties	Marketability discount	10% (10%)

(1)	Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

The following tables present the estimated fair values of the Company’s financial instruments at December 31, 2023 and 2022:


	December 31, 2023
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3

	(Dollars in thousands)
Financial Assets
Cash and cash equivalents	$	255,229	$	255,229	$	—	$	—
Available-for-sale securities		766,653		—		766,653		—
Loans, net of allowance for credit losses		6,054,228		—		—		6,036,887
Restricted equity securities		3,950		—		—		3,950
Interest receivable		37,294		—		37,294		—
Equity securities		5,794		—		—		5,794
Derivative assets		7,581		—		7,581		—

Financial Liabilities
Deposits	$	6,491,276	$	990,458	$	—	$	5,547,203
Federal Home Loan Bank advances		77,889		—		72,123		—
Other borrowings		8,950		—		9,891		—
Interest payable		18,529		—		18,529		—
Derivative liabilities		13,594		—		13,594		—


	December 31, 2022
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3

	(Dollars in thousands)
Financial Assets
Cash and cash equivalents	$	300,138	$	300,138	$	—	$	—
Available-for-sale securities		769,641		—		686,901		—
Loans, net of allowance for credit losses		5,310,954		—		—		5,307,607
Restricted equity securities		12,536		—		—		12,536
Interest receivable		29,507		—		29,507		—
Equity securities		2,870		—		—		2,870
Derivative assets		11,038		—		11,038		—

Financial Liabilities
Deposits	$	5,651,308	$	1,400,260	$	—	$	4,142,673
Federal funds purchased and repurchase agreements		74,968		—		74,968		—
Federal Home Loan Bank advances		143,143		—		135,086		—
Other borrowings		35,547		—		36,529		—
Interest payable		5,713		—		5,713		—
Derivative liabilities		16,442		—		16,442		—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Securities

12 Months Ended

Dec. 31, 2023

Securities

Securities

Note 3: Securities

Available-for-Sale Securities

AFS securities are summarized as follows as of the dates indicated:


	December 31, 2023
			Gross		Gross
			Unrealized		Unrealized		Approximate
	Amortized Cost		Gains		Losses		Fair Value

	(Dollars in thousands)
Federal agency obligations	$	9,988	$	84	$	—	$	10,072
U.S. Treasury securities		4,965		3		—		4,968
Mortgage-backed - GSE residential		233,203		629		21,370		212,462
Collateralized mortgage obligations - GSE residential		50,125		493		674		49,944
State and political subdivisions		396,349		497		40,949		355,897
Small Business Administration loan pools		125,017		722		961		124,778
Corporate bonds		9,740		—		1,208		8,532
Total available-for-sale securities	$	829,387	$	2,428	$	65,162	$	766,653


	December 31, 2022
			Gross		Gross
			Unrealized		Unrealized		Approximate
	Amortized Cost		Gains		Losses		Fair Value

	(Dollars in thousands)
Mortgage-backed - GSE residential	$	197,243	$	232	$	25,166	$	172,309
Collateralized mortgage obligations - GSE residential		11,629		—		743		10,886
State and political subdivisions		551,007		929		57,440		494,496
Corporate bonds		9,762		—		552		9,210
Total available-for-sale securities	$	769,641	$	1,161	$	83,901	$	686,901

The carrying value of securities pledged as collateral was $40 million and $22 million at December 31, 2023 and 2022, respectively.

As of December 31, 2023 and 2022, the AFS securities had $7 million and $6 million, respectively, of accrued interest, excluded from the amortized cost basis, and presented in “interest receivable” on the consolidated statements of financial condition.

The following table summarizes the gross realized gains and losses from sales or maturities of AFS securities:


	For the Year Ended December 31, 2023

	Gross Realized Gains		Gross Realized Losses		Net Realized Loss

	(Dollars in thousands)
Available-for-sale securities	$	462	$	1,589	$	(1,127)


	For the Year Ended December 31, 2022

	Gross Realized Gains		Gross Realized Losses		Net Realized Gain

	(Dollars in thousands)
Available-for-sale securities	$	146	$	50	$	96

The following table summarizes AFS securities with gross unrealized losses, as of the dates shown, along with the length of time in an unrealized loss position:


	December 31, 2023
	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized		Number of	Fair		Unrealized		Number of	Fair		Unrealized		Number of
	Value		Losses		Securities	Value		Losses		Securities	Value		Losses		Securities

	(Dollars in thousands)
Available-for-Sale Securities
Federal agency obligations	$	—	$	—	—	$	—	$	—	—	$	—	$	—	—
U.S. Treasury securities		—		—	—		—		—	—		—		—	—
Mortgage-backed - GSE residential		21,523		56	5		137,626		21,314	52		159,149		21,370	57
Collateralized mortgage obligations - GSE residential		17,707		135	4		8,469		539	17		26,176		674	21
State and political subdivisions		33,577		207	20		287,128		40,742	190		320,705		40,949	210
Small Business Administration loan pools		76,380		959	11		91		2	4		76,471		961	15
Corporate bonds		—		—	—		8,532		1,208	5		8,532		1,208	5
Total temporarily impaired AFS securities	$	149,187	$	1,357	40	$	441,846	$	63,805	268	$	591,033	$	65,162	308


	December 31, 2022
	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized		Number of	Fair		Unrealized		Number of	Fair		Unrealized		Number of
	Value		Losses		Securities	Value		Losses		Securities	Value		Losses		Securities

	(Dollars in thousands)
Available-for-Sale Securities
Mortgage-backed - GSE residential	$	91,929	$	10,410	41	$	66,036	$	14,756	16	$	157,965	$	25,166	57
Collateralized mortgage obligations - GSE residential		10,636		733	18		251		10	1		10,887		743	19
State and political subdivisions		350,884		36,697	266		52,519		20,743	40		403,403		57,440	306
Corporate bonds		9,210		552	5		—		—	—		9,210		552	5
Total temporarily impaired AFS securities	$	462,659	$	48,392	330	$	118,806	$	35,509	57	$	581,465	$	83,901	387

Management evaluated all of the AFS securities in an unrealized loss position at December 31, 2023. The unrealized losses in the Company’s investment portfolio were caused by interest rate changes. The Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost basis. The Company has not recorded any credit losses on AFS securities in 2023 or 2022.

The amortized cost, fair value, and weighted average yield of AFS securities by contractual maturity, are shown below:


	December 31, 2023
	Within			After One to			After Five to			After
	One Year			Five Years			Ten Years			Ten Years			Total

	(Dollars in thousands)
Available-for-sale securities
Federal agency obligations⁽¹⁾
Amortized cost	$	—		$	—		$	—		$	9,988		$	9,988
Estimated fair value	$	—		$	—		$	—		$	10,072		$	10,072
Weighted average yield⁽²⁾		—	%		—	%		—	%		6.41	%		6.41	%
U.S. Treasury securities
Amortized cost	$	4,965		$	—		$	—		$	—		$	4,965
Estimated fair value	$	4,968		$	—		$	—		$	—		$	4,968
Weighted average yield⁽²⁾		5.56	%		—	%		—	%		—	%		5.56	%
Mortgage-backed - GSE residential⁽¹⁾
Amortized cost	$	—		$	—		$	889		$	232,314		$	233,203
Estimated fair value	$	—		$	—		$	821		$	211,641		$	212,462
Weighted average yield⁽²⁾		—	%		—	%		2.24	%		3.16	%		3.15	%
Collateralized mortgage obligations - GSE residential⁽¹⁾
Amortized cost	$	—		$	2,237		$	—		$	47,888		$	50,125
Estimated fair value	$	—		$	2,153		$	—		$	47,791		$	49,944
Weighted average yield⁽²⁾		—	%		2.78	%		—	%		5.23	%		5.12	%
State and political subdivisions⁽¹⁾
Amortized cost	$	520		$	3,727		$	55,956		$	336,146		$	396,349
Estimated fair value	$	529		$	3,726		$	55,446		$	296,196		$	355,897
Weighted average yield⁽²⁾		4.22	%		4.31	%		2.85	%		2.54	%		2.61	%
Small Business Administration loan pools⁽¹⁾
Amortized cost	$	—		$	9		$	84		$	124,924		$	125,017
Estimated fair value	$	—		$	10		$	81		$	124,687		$	124,778
Weighted average yield⁽²⁾		—	%		4.90	%		4.10	%		4.87	%		4.87	%
Corporate bonds⁽¹⁾
Amortized cost	$	—		$	143		$	9,597		$	—		$	9,740
Estimated fair value	$	—		$	140		$	8,392		$	—		$	8,532
Weighted average yield⁽²⁾		—	%		4.15	%		5.70	%		—	%		5.68	%
Total available-for-sale securities
Amortized cost	$	5,485		$	6,116		$	66,526		$	751,260		$	829,387
Estimated fair value	$	5,497		$	6,029		$	64,740		$	690,387		$	766,653
Weighted average yield⁽²⁾		5.43	%		3.75	%		3.25	%		3.34	%		3.35	%

⁽¹⁾	Actual maturities may differ from contractual maturities because issuers may have the rights to call or prepay obligations with or without prepayment penalties.

⁽²⁾	Yields are calculated based on amortized cost using a 30/360 day basis. Tax-exempt securities are not tax effected.


	December 31, 2022

	Within			After One to			After Five to			After
	One Year			Five Years			Ten Years			Ten Years			Total

	(Dollars in thousands)
Available-for-sale securities
Mortgage-backed - GSE residential⁽¹⁾
Amortized cost	$	—		$	18		$	105		$	197,120		$	197,243
Estimated fair value	$	—		$	17		$	101		$	172,191		$	172,309
Weighted average yield⁽²⁾		—	%		4.77	%		4.05	%		2.39	%		2.39	%
Collateralized mortgage obligations - GSE residential⁽¹⁾
Amortized cost	$	—		$	—		$	2,344		$	9,285		$	11,629
Estimated fair value	$	—		$	—		$	2,229		$	8,657		$	10,886
Weighted average yield⁽²⁾		—	%		—	%		2.77	%		2.25	%		2.36	%
State and political subdivisions⁽¹⁾
Amortized cost	$	1,076		$	6,310		$	109,771		$	433,850		$	551,007
Estimated fair value	$	1,077		$	6,471		$	109,134		$	377,814		$	494,496
Weighted average yield⁽²⁾		3.54	%		4.60	%		3.08	%		2.70	%		2.80	%
Corporate bonds⁽¹⁾
Amortized cost	$	—		$	150		$	9,612		$	—		$	9,762
Estimated fair value	$	—		$	146		$	9,064		$	—		$	9,210
Weighted average yield⁽²⁾		—	%		5.43	%		5.70	%		—	%		5.70	%
Total available-for-sale securities
Amortized cost	$	1,076		$	6,478		$	121,832		$	640,255		$	769,641
Estimated fair value	$	1,077		$	6,634		$	120,528		$	558,662		$	686,901
Weighted average yield⁽²⁾		3.54	%		4.62	%		3.28	%		2.60	%		2.74	%

⁽¹⁾	Actual maturities may differ from contractual maturities because issuers may have the rights to call or prepay obligations with or without prepayment penalties.

⁽²⁾	Yields are calculated based on amortized cost using a 30/360 day basis. Tax-exempt securities are not tax effected.

Equity Securities

Equity securities consist of $5.8 million of private equity investments. Equity securities are included in other assets on the consolidated statements of financial condition.

During 2020, the Company acquired an $11 million privately-held security in partial satisfaction of debts previously contracted. During 2021, the Company sold the equity security for $5 million that resulted in a $6 million realized loss which is included in “other non-interest income” in the consolidated statement of operations.

The following is a summary of the recorded fair value and the unrealized and realized gains and losses recognized in net income on equity securities:


	For the Year Ended December 31,

	2023		2022		2021

	(Dollars in thousands)
Net gains (losses) recognized during the reporting period on equity securities	$	132	$	(181)	$	(6,325)
Less: net gains (losses) recognized during the period on equity securities sold during the period		93		(181)		(6,245)
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$	39	$	—	$	(80)

Securities - Unrealized Losses (Details) $ in Thousands	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Less than 12 Months
Fair Value	$ 149,187	$ 462,659
Unrealized Losses	$ 1,357	$ 48,392
Number of Securities \| security	40	330
12 Months or More
Fair Value	$ 441,846	$ 118,806
Unrealized Losses	$ 63,805	$ 35,509
Number of Securities \| security	268	57
Total
Fair Value	$ 591,033	$ 581,465
Unrealized Losses	$ 65,162	$ 83,901
Number of Securities \| security	308	387
Mortgage-backed - GSE residential
Less than 12 Months
Fair Value	$ 21,523	$ 91,929
Unrealized Losses	$ 56	$ 10,410
Number of Securities \| security	5	41
12 Months or More
Fair Value	$ 137,626	$ 66,036
Unrealized Losses	$ 21,314	$ 14,756
Number of Securities \| security	52	16
Total
Fair Value	$ 159,149	$ 157,965
Unrealized Losses	$ 21,370	$ 25,166
Number of Securities \| security	57	57
Collateralized mortgage obligations - GSE residential
Less than 12 Months
Fair Value	$ 17,707	$ 10,636
Unrealized Losses	$ 135	$ 733
Number of Securities \| security	4	18
12 Months or More
Fair Value	$ 8,469	$ 251
Unrealized Losses	$ 539	$ 10
Number of Securities \| security	17	1
Total
Fair Value	$ 26,176	$ 10,887
Unrealized Losses	$ 674	$ 743
Number of Securities \| security	21	19
State and political subdivisions
Less than 12 Months
Fair Value	$ 33,577	$ 350,884
Unrealized Losses	$ 207	$ 36,697
Number of Securities \| security	20	266
12 Months or More
Fair Value	$ 287,128	$ 52,519
Unrealized Losses	$ 40,742	$ 20,743
Number of Securities \| security	190	40
Total
Fair Value	$ 320,705	$ 403,403
Unrealized Losses	$ 40,949	$ 57,440
Number of Securities \| security	210	306
Small Business Administration loan pools
Less than 12 Months
Fair Value	$ 76,380
Unrealized Losses	$ 959
Number of Securities \| security	11
12 Months or More
Fair Value	$ 91
Unrealized Losses	$ 2
Number of Securities \| security	4
Total
Fair Value	$ 76,471
Unrealized Losses	$ 961
Number of Securities \| security	15
Corporate bonds
Less than 12 Months
Fair Value		$ 9,210
Unrealized Losses		$ 552
Number of Securities \| security		5
12 Months or More
Fair Value	$ 8,532
Unrealized Losses	$ 1,208
Number of Securities \| security	5
Total
Fair Value	$ 8,532	$ 9,210
Unrealized Losses	$ 1,208	$ 552
Number of Securities \| security	5	5

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39028
Entity Registrant Name	CROSSFIRST BANKSHARES, INC.
Entity Incorporation, State or Country Code	KS
Entity Tax Identification Number	26-3212879
Entity Address, Address Line One	11440 Tomahawk Creek Parkway
Entity Address, City or Town	Leawood
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
City Area Code	913
Local Phone Number	901-4516
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CFB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 443,326,730
Entity Common Stock, Shares Outstanding		49,345,279
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE: Part III of this Annual Report on Form 10-K incorporates by reference certain information from the registrant’s definitive proxy statement with respect to its 2024 annual meeting of stockholders, which will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates.
Entity Central Index Key	0001458412
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	FORVIS, LLP
Auditor Location	Kansas City, Missouri
Auditor Firm ID	686

Income Taxes - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Federal
Income Taxes
Operating loss carry-forwards	$ 5.9

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Changes in Accumulated Other Comprehensive Income (Loss)

Schedule of amounts reclassified from AOCI


	For the Year Ended December 31,						Affected Line Item in the
	2023		2022		2021		Statements of Operations

	(Dollars in thousands)
Realized (loss) gain on available-for-sale securities	$	(1,127)	$	96	$	1,023	Other non-interest income
Less: tax (benefit) expense effect		(266)		24		245	Income tax expense
Realized (loss) gain on available-for-sale securities, net of income tax		(861)		72		778
Gain on cash flow hedges		275		—		—	Interest expense - Deposits
Less: tax expense effect		65		—		—	Income tax expense
Gain on cash flow hedges, net of tax		210		—		—
Total reclassified amount	$	(651)	$	72	$	778

Securities - Available-for-sale, Net Realized Gain (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Securities
Gross Realized Gains	$ 462	$ 146
Gross Realized Losses	1,589	50
Net Realized Gain (Loss)	$ (1,127)	$ 96	$ 1,023

Borrowing Arrangements - Other Borrowing Capacities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Borrowing Arrangements
Unused Federal Reserve borrowing capacity	$ 780,588	$ 503,899
Total FHLB borrowing capacity
Borrowing Arrangements
Borrowing capacity	560,999	391,910
FHLB borrowing capacity relating to loans
Borrowing Arrangements
Borrowing capacity	$ 560,999	$ 391,910

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Loans and Allowance for Credit Losses - Loan Aging Analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	$ 1,005,445	$ 1,502,872
Fiscal Year Before Latest Fiscal Year	1,322,974	980,869
Two Years Before Latest Fiscal Year	678,928	457,711
Three Years Before Latest Fiscal Year	404,847	253,347
Four Years Before Latest Fiscal Year	212,136	177,797
Five Or More Years Before Latest Fiscal Year	173,803	156,029
Revolving Loans	2,071,645	1,664,787
Revolving Loans Converted to Term Loans	257,912	179,317
Total Loans Receivable	6,127,690	5,372,729
30-59 days
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	250	4,313
Fiscal Year Before Latest Fiscal Year	403	8,651
Two Years Before Latest Fiscal Year	40
Three Years Before Latest Fiscal Year	589	1,190
Five Or More Years Before Latest Fiscal Year	207	1,049
Revolving Loans	388	2,844
Revolving Loans Converted to Term Loans	151
Total Loans Receivable	2,028	18,047
60-89 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year		55
Two Years Before Latest Fiscal Year		2
Four Years Before Latest Fiscal Year		5
Revolving Loans		980
Revolving Loans Converted to Term Loans		430
Total Loans Receivable		1,472
Greater than 90 days
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	30
Fiscal Year Before Latest Fiscal Year	776	263
Two Years Before Latest Fiscal Year	7,897	7
Three Years Before Latest Fiscal Year	1,722	6
Four Years Before Latest Fiscal Year	199	1,383
Five Or More Years Before Latest Fiscal Year	307	12
Revolving Loans	11,264	7,681
Revolving Loans Converted to Term Loans	2,376
Total Loans Receivable	24,571	9,352
Total past due
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	280	4,313
Fiscal Year Before Latest Fiscal Year	1,179	8,969
Two Years Before Latest Fiscal Year	7,937	9
Three Years Before Latest Fiscal Year	2,311	1,196
Four Years Before Latest Fiscal Year	199	1,388
Five Or More Years Before Latest Fiscal Year	514	1,061
Revolving Loans	11,652	11,505
Revolving Loans Converted to Term Loans	2,527	430
Total Loans Receivable	26,599	28,871
Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	1,005,165	1,498,559
Fiscal Year Before Latest Fiscal Year	1,321,795	971,900
Two Years Before Latest Fiscal Year	670,991	457,702
Three Years Before Latest Fiscal Year	402,536	252,151
Four Years Before Latest Fiscal Year	211,937	176,409
Five Or More Years Before Latest Fiscal Year	173,289	154,968
Revolving Loans	2,059,993	1,653,282
Revolving Loans Converted to Term Loans	255,385	178,887
Total Loans Receivable	6,101,091	5,343,858
Greater than 90 days and accruing
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	30
Fiscal Year Before Latest Fiscal Year	30	159
Two Years Before Latest Fiscal Year	1,398	7
Four Years Before Latest Fiscal Year	199
Five Or More Years Before Latest Fiscal Year	307
Revolving Loans	2,176	584
Revolving Loans Converted to Term Loans	2,199
Total Loans Receivable	6,339	750
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	394,457	468,784
Fiscal Year Before Latest Fiscal Year	260,984	305,002
Two Years Before Latest Fiscal Year	204,669	72,154
Three Years Before Latest Fiscal Year	57,837	54,732
Four Years Before Latest Fiscal Year	40,820	55,665
Five Or More Years Before Latest Fiscal Year	19,642	21,045
Revolving Loans	1,108,604	957,254
Revolving Loans Converted to Term Loans	73,199	40,296
Total Loans Receivable	2,160,212	1,974,932
Commercial and industrial \| 30-59 days
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	250	20
Fiscal Year Before Latest Fiscal Year	178	4,784
Three Years Before Latest Fiscal Year	81
Five Or More Years Before Latest Fiscal Year	136	1,049
Revolving Loans	158	2,814
Revolving Loans Converted to Term Loans	151
Total Loans Receivable	954	8,667
Commercial and industrial \| 60-89 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year		55
Revolving Loans		980
Revolving Loans Converted to Term Loans		430
Total Loans Receivable		1,465
Commercial and industrial \| Greater than 90 days
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	30
Fiscal Year Before Latest Fiscal Year	28	143
Two Years Before Latest Fiscal Year	347	7
Three Years Before Latest Fiscal Year	24	6
Four Years Before Latest Fiscal Year	199	1,383
Five Or More Years Before Latest Fiscal Year		12
Revolving Loans	10,800	7,063
Revolving Loans Converted to Term Loans	2,376
Total Loans Receivable	13,804	8,614
Commercial and industrial \| Total past due
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	280	20
Fiscal Year Before Latest Fiscal Year	206	4,982
Two Years Before Latest Fiscal Year	347	7
Three Years Before Latest Fiscal Year	105	6
Four Years Before Latest Fiscal Year	199	1,383
Five Or More Years Before Latest Fiscal Year	136	1,061
Revolving Loans	10,958	10,857
Revolving Loans Converted to Term Loans	2,527	430
Total Loans Receivable	14,758	18,746
Commercial and industrial \| Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	394,177	468,764
Fiscal Year Before Latest Fiscal Year	260,778	300,020
Two Years Before Latest Fiscal Year	204,322	72,147
Three Years Before Latest Fiscal Year	57,732	54,726
Four Years Before Latest Fiscal Year	40,621	54,282
Five Or More Years Before Latest Fiscal Year	19,506	19,984
Revolving Loans	1,097,646	946,397
Revolving Loans Converted to Term Loans	70,672	39,866
Total Loans Receivable	2,145,454	1,956,186
Commercial and industrial \| Greater than 90 days and accruing
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	30
Fiscal Year Before Latest Fiscal Year	28	39
Two Years Before Latest Fiscal Year	81	7
Four Years Before Latest Fiscal Year	199
Revolving Loans	2,000	584
Revolving Loans Converted to Term Loans	2,199
Total Loans Receivable	4,537	630
Energy
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	4,581	7,585
Fiscal Year Before Latest Fiscal Year	6,868	306
Two Years Before Latest Fiscal Year		228
Three Years Before Latest Fiscal Year	156
Revolving Loans	202,506	164,928
Revolving Loans Converted to Term Loans	107	171
Total Loans Receivable	214,218	173,218
Energy \| 30-59 days
Financing Receivable, Past Due [Line Items]
Revolving Loans	30
Total Loans Receivable	30
Energy \| Greater than 90 days
Financing Receivable, Past Due [Line Items]
Revolving Loans	288	618
Total Loans Receivable	288	618
Energy \| Total past due
Financing Receivable, Past Due [Line Items]
Revolving Loans	318	618
Total Loans Receivable	318	618
Energy \| Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	4,581	7,585
Fiscal Year Before Latest Fiscal Year	6,868	306
Two Years Before Latest Fiscal Year		228
Three Years Before Latest Fiscal Year	156
Revolving Loans	202,188	164,310
Revolving Loans Converted to Term Loans	107	171
Total Loans Receivable	213,900	172,600
Commercial real estate - owner-occupied
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	69,308	96,987
Fiscal Year Before Latest Fiscal Year	98,946	134,092
Two Years Before Latest Fiscal Year	128,410	57,462
Three Years Before Latest Fiscal Year	65,454	50,950
Four Years Before Latest Fiscal Year	51,555	28,241
Five Or More Years Before Latest Fiscal Year	37,431	24,080
Revolving Loans	76,782	28,814
Revolving Loans Converted to Term Loans	38,367	16,493
Total Loans Receivable	566,253	437,119
Commercial real estate - owner-occupied \| 30-59 days
Financing Receivable, Past Due [Line Items]
Three Years Before Latest Fiscal Year	371
Five Or More Years Before Latest Fiscal Year	71
Total Loans Receivable	442
Commercial real estate - owner-occupied \| Greater than 90 days
Financing Receivable, Past Due [Line Items]
Two Years Before Latest Fiscal Year	204
Total Loans Receivable	204
Commercial real estate - owner-occupied \| Total past due
Financing Receivable, Past Due [Line Items]
Two Years Before Latest Fiscal Year	204
Three Years Before Latest Fiscal Year	371
Five Or More Years Before Latest Fiscal Year	71
Total Loans Receivable	646
Commercial real estate - owner-occupied \| Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	69,308	96,987
Fiscal Year Before Latest Fiscal Year	98,946	134,092
Two Years Before Latest Fiscal Year	128,206	57,462
Three Years Before Latest Fiscal Year	65,083	50,950
Four Years Before Latest Fiscal Year	51,555	28,241
Five Or More Years Before Latest Fiscal Year	37,360	24,080
Revolving Loans	76,782	28,814
Revolving Loans Converted to Term Loans	38,367	16,493
Total Loans Receivable	565,607	437,119
Commercial real estate - non-owner-occupied
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	487,579	843,896
Fiscal Year Before Latest Fiscal Year	862,407	452,692
Two Years Before Latest Fiscal Year	258,161	200,811
Three Years Before Latest Fiscal Year	167,169	101,909
Four Years Before Latest Fiscal Year	82,748	56,354
Five Or More Years Before Latest Fiscal Year	54,412	76,046
Revolving Loans	626,998	460,726
Revolving Loans Converted to Term Loans	146,060	122,166
Total Loans Receivable	2,685,534	2,314,600
Commercial real estate - non-owner-occupied \| 30-59 days
Financing Receivable, Past Due [Line Items]
Current Fiscal Year		4,293
Three Years Before Latest Fiscal Year		1,180
Total Loans Receivable		5,473
Commercial real estate - non-owner-occupied \| Greater than 90 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	713
Two Years Before Latest Fiscal Year	6,029
Three Years Before Latest Fiscal Year	1,698
Five Or More Years Before Latest Fiscal Year	307
Total Loans Receivable	8,747
Commercial real estate - non-owner-occupied \| Total past due
Financing Receivable, Past Due [Line Items]
Current Fiscal Year		4,293
Fiscal Year Before Latest Fiscal Year	713
Two Years Before Latest Fiscal Year	6,029
Three Years Before Latest Fiscal Year	1,698	1,180
Five Or More Years Before Latest Fiscal Year	307
Total Loans Receivable	8,747	5,473
Commercial real estate - non-owner-occupied \| Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	487,579	839,603
Fiscal Year Before Latest Fiscal Year	861,694	452,692
Two Years Before Latest Fiscal Year	252,132	200,811
Three Years Before Latest Fiscal Year	165,471	100,729
Four Years Before Latest Fiscal Year	82,748	56,354
Five Or More Years Before Latest Fiscal Year	54,105	76,046
Revolving Loans	626,998	460,726
Revolving Loans Converted to Term Loans	146,060	122,166
Total Loans Receivable	2,676,787	2,309,127
Commercial real estate - non-owner-occupied \| Greater than 90 days and accruing
Financing Receivable, Past Due [Line Items]
Five Or More Years Before Latest Fiscal Year	307
Total Loans Receivable	307
Residential real estate
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	37,929	77,703
Fiscal Year Before Latest Fiscal Year	87,732	87,430
Two Years Before Latest Fiscal Year	87,226	124,413
Three Years Before Latest Fiscal Year	114,154	45,491
Four Years Before Latest Fiscal Year	36,792	37,395
Five Or More Years Before Latest Fiscal Year	62,288	34,852
Revolving Loans	37,795	31,892
Revolving Loans Converted to Term Loans	179	191
Total Loans Receivable	464,095	439,367
Residential real estate \| 30-59 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	6	3,867
Three Years Before Latest Fiscal Year	137	10
Revolving Loans		30
Total Loans Receivable	143	3,907
Residential real estate \| Greater than 90 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year		120
Two Years Before Latest Fiscal Year	1,317
Revolving Loans	176
Total Loans Receivable	1,493	120
Residential real estate \| Total past due
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	6	3,987
Two Years Before Latest Fiscal Year	1,317
Three Years Before Latest Fiscal Year	137	10
Revolving Loans	176	30
Total Loans Receivable	1,636	4,027
Residential real estate \| Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	37,929	77,703
Fiscal Year Before Latest Fiscal Year	87,726	83,443
Two Years Before Latest Fiscal Year	85,909	124,413
Three Years Before Latest Fiscal Year	114,017	45,481
Four Years Before Latest Fiscal Year	36,792	37,395
Five Or More Years Before Latest Fiscal Year	62,288	34,852
Revolving Loans	37,619	31,862
Revolving Loans Converted to Term Loans	179	191
Total Loans Receivable	462,459	435,340
Residential real estate \| Greater than 90 days and accruing
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year		120
Two Years Before Latest Fiscal Year	1,317
Revolving Loans	176
Total Loans Receivable	1,493	120
Consumer
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	11,591	7,917
Fiscal Year Before Latest Fiscal Year	6,037	1,347
Two Years Before Latest Fiscal Year	462	2,643
Three Years Before Latest Fiscal Year	77	265
Four Years Before Latest Fiscal Year	221	142
Five Or More Years Before Latest Fiscal Year	30	6
Revolving Loans	18,960	21,173
Total Loans Receivable	37,378	33,493
Consumer \| 30-59 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	219
Two Years Before Latest Fiscal Year	40
Revolving Loans	200
Total Loans Receivable	459
Consumer \| 60-89 days
Financing Receivable, Past Due [Line Items]
Two Years Before Latest Fiscal Year		2
Four Years Before Latest Fiscal Year		5
Total Loans Receivable		7
Consumer \| Greater than 90 days
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	35
Total Loans Receivable	35
Consumer \| Total past due
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	254
Two Years Before Latest Fiscal Year	40	2
Four Years Before Latest Fiscal Year		5
Revolving Loans	200
Total Loans Receivable	494	7
Consumer \| Current
Financing Receivable, Past Due [Line Items]
Current Fiscal Year	11,591	7,917
Fiscal Year Before Latest Fiscal Year	5,783	1,347
Two Years Before Latest Fiscal Year	422	2,641
Three Years Before Latest Fiscal Year	77	265
Four Years Before Latest Fiscal Year	221	137
Five Or More Years Before Latest Fiscal Year	30	6
Revolving Loans	18,760	21,173
Total Loans Receivable	36,884	$ 33,486
Consumer \| Greater than 90 days and accruing
Financing Receivable, Past Due [Line Items]
Fiscal Year Before Latest Fiscal Year	2
Total Loans Receivable	$ 2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes

Schedule of provision for income taxes


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Current tax expense	$	19,526	$	17,943	$	14,892
Deferred income tax (benefit) expense		(2,086)		(1,970)		2,664
Income tax expense	$	17,440	$	15,973	$	17,556

Schedule of income tax reconciliation at the statutory rate


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Computed at the statutory rate (21%)	$	17,663	$	16,290	$	18,263
Increase (decrease) resulting from
Tax-exempt income		(3,255)		(3,546)		(3,672)
Non-deductible expenses		421		689		232
State income taxes, net of federal benefits		2,473		2,785		3,030
Stock-based compensation		84		(190)		(172)
Other adjustments		54		(55)		(125)
Income tax expense	$	17,440	$	15,973	$	17,556

Schedule of tax effects of temporary differences related to deferred taxes


	As of December 31,
	2023		2022

	(Dollars in thousands)
Deferred tax assets
Net unrealized loss on securities available-for-sale	$	15,456	$	20,295
Allowance for credit losses		18,470		16,710
Lease liability		7,930		8,056
Loan fees		3,701		4,048
Accrued expenses		3,397		3,379
Deferred compensation		2,334		2,166
Other		2,818		1,094
Total deferred tax asset		54,106		55,748
Deferred tax liability
FHLB stock basis		(107)		(436)
Premises and equipment		(2,565)		(2,042)
Right-of-use asset		(7,023)		(7,230)
Other		(950)		(1,018)
Total deferred tax liability		(10,645)		(10,726)
Net deferred tax asset	$	43,461	$	45,022

Disclosure about Fair Value of Financial Instruments - Fair Value Measurement of Assets on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 10,570	$ 8,728
Foreclosed assets held-for-sale		1,745
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 10,570	8,728
Foreclosed assets held-for-sale		$ 1,745

Loans and Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Allowance for loan losses
Beginning balance	$ 61,775	$ 56,628
PCD allowance for credit loss at acquisition	329	915
Charge-offs	(5,709)	(10,744)
Recoveries	303	6,979
Provision (release)	15,864	3,402
Day 1 CECL provision expense	900	4,595
Ending balance	73,462	61,775
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	8,688	5,184
Provision (credit)	(2,275)	3,047
Day 1 CECL provision expense		457
Ending balance	6,413	8,688
Commercial and industrial
Allowance for loan losses
Beginning balance	26,803	19,005
PCD allowance for credit loss at acquisition	51	523
Charge-offs	(5,703)	(4,762)
Recoveries	164	2,628
Provision (release)	10,871	7,567
Day 1 CECL provision expense	58	1,842
Ending balance	32,244	26,803
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	319	151
Provision (credit)	635	51
Day 1 CECL provision expense		117
Ending balance	954	319
Energy
Allowance for loan losses
Beginning balance	4,396	9,190
Charge-offs		(4,651)
Recoveries	139	2,008
Provision (release)	(1,392)	(2,151)
Ending balance	3,143	4,396
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	787	265
Provision (credit)	(638)	522
Ending balance	149	787
Commercial real estate - owner-occupied
Allowance for loan losses
Beginning balance	5,214	3,852
PCD allowance for credit loss at acquisition	61	210
Provision (release)	976	(447)
Day 1 CECL provision expense	194	1,599
Ending balance	6,445	5,214
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	221	176
Provision (credit)	(96)	39
Day 1 CECL provision expense		6
Ending balance	125	221
Commercial real estate - non-owner-occupied
Allowance for loan losses
Beginning balance	21,880	21,212
PCD allowance for credit loss at acquisition	217	172
Charge-offs		(1,102)
Recoveries		2,335
Provision (release)	5,390	(1,748)
Day 1 CECL provision expense	643	1,011
Ending balance	28,130	21,880
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	7,323	4,586
Provision (credit)	(2,227)	2,436
Day 1 CECL provision expense		301
Ending balance	5,096	7,323
Residential real estate
Allowance for loan losses
Beginning balance	3,333	3,231
PCD allowance for credit loss at acquisition		4
Charge-offs		(216)
Provision (release)	118	195
Day 1 CECL provision expense	5	119
Ending balance	3,456	3,333
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	35	5
Provision (credit)	54	(3)
Day 1 CECL provision expense		33
Ending balance	89	35
Consumer
Allowance for loan losses
Beginning balance	149	138
PCD allowance for credit loss at acquisition		6
Charge-offs	(6)	(13)
Recoveries		8
Provision (release)	(99)	(14)
Day 1 CECL provision expense		24
Ending balance	44	149
Allowance for Credit Losses on Off-Balance Sheet
Beginning balance	3	1
Provision (credit)	$ (3)	2
Ending balance		$ 3

Premises and Equipment

12 Months Ended

Dec. 31, 2023

Premises and Equipment

Premises and Equipment

Note 5: Premises and Equipment

Major classifications of premises and equipment, stated at cost, are as follows:


	As of December 31,
	2023		2022

	(Dollars in thousands)
Land	$	8,689	$	7,579
Building and improvements		69,320		65,101
Furniture and fixtures		15,797		14,523
Equipment		13,278		10,066
Construction in progress		1,252		1,172
Premises and equipment		108,336		98,441
Less: accumulated depreciation		37,467		32,457
Premises and equipment, net	$	70,869	$	65,984

The Company recorded $4.9 million, $4.7 million and $4.9 million of depreciation expense during 2023, 2022 and 2021, respectively, as a component of other non-interest expense in the consolidated statements of operations.

Leases - Components of operating lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Components of operating lease expense
Finance lease amortization of right-of-use asset	$ 284	$ 231
Finance lease interest on lease liability	271	185
Operating lease expense	2,933	2,577
Variable lease expense	1,816	1,222
Short-term lease expense	15	20
Total lease expense	$ 5,319	$ 4,235

Derivatives and Hedging Activities

12 Months Ended

Dec. 31, 2023

Derivatives and Hedging Activities

Derivatives and Hedging Activities

Note 8: Derivatives and Hedging Activities

The Company is exposed to certain risks arising from both its business operations and economic conditions, including interest rate, liquidity, and credit risk. The Company uses derivative financial instruments as part of its risk management activities to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates.

Cash Flow Hedges of Interest Rate Risk

The Company uses interest rate derivatives to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company may utilize interest rate swaps, including forwards, interest rate caps, floors, collars, corridors and swaptions as part of its interest rate risk management strategy. During 2023, the Company utilized interest rate swaps and a collar to hedge the variable cash flows associated with existing variable-rate debt and loan assets. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Interest rate collars designated as cash flow hedges involve payments of variable-rate amounts if interest rates rise above the cap strike rate on the contract and the receipt of variable-rate amounts if interest rates fall below the floor strike rate on the contract. Five swaps that were entered into in 2021 were terminated during the third quarter of 2022 and the amortization of the gains on these instruments began in 2023 based on the original effective dates of these swaps. Derivatives that qualify as cash flow hedges and are designated as such include five instruments with a total notional value of $340 million at December 31, 2023, and one instrument with a notional value of $250 million at December 31, 2022.

For derivatives that qualify as cash flow hedges of interest rate risk and are designed as such, the gain or loss on the derivative is recorded in Accumulated Other Comprehensive (Loss) Income (“AOCI”) and subsequently reclassified into interest income or expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest income and expense as interest payments are received and made on the Company’s variable-rate assets and debt. The Company currently estimates that $2.5 million will be reclassified as a decrease to net interest income during the next twelve months.

The Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 5.4 years.

Non-designated Hedges

Derivatives not designated as hedges are not speculative and result from a service provided to clients. The Company executes interest rate swaps with clients to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting derivatives that the Company executes with a third-party, such that the Company minimizes its net risk exposure resulting from such transactions. Interest rate derivatives associated with this program do not meet the strict hedge accounting requirements and changes in the fair value of both the client derivatives and the offsetting derivatives are recognized directly in earnings.

Swap fees earned upon origination and credit valuation adjustments that represent the risk of a counterparty’s default are reported on the consolidated statements of operations as swap fee income, net. The effect of the Company’s derivative financial instruments gain (loss) is reported on the consolidated statements of cash flows within “other assets” and “other liabilities”.

These 46 and 49 swaps had an aggregate notional amount of $307 million and $421 million at December 31, 2023 and 2022, respectively.

The table below presents the fair value of the Company’s derivative financial instruments and their classification on the consolidated statements of financial condition as of December 31, 2023 and 2022:


	Asset Derivatives					Liability Derivatives
	Statement of					Statement of
	Financial					Financial
	Condition	As of December 31,				Condition	As of December 31,
	Location	2023		2022		Location	2023		2022

	(Dollars in thousands)
Interest rate products:
Derivatives designated as hedging instruments	Other assets and Interest receivable	$	101	$	—	Interest payable and other liabilities	$	5,992	$	5,403
Derivatives not designated as hedging instruments	Other assets and Interest receivable	$	7,830	$	11,038	Interest payable and other liabilities	$	7,837	$	11,039
Total		$	7,931	$	11,038		$	13,829	$	16,442

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive (Loss) Income for the years ended December 31, 2023 and 2022.

December 31, 2023

Location of

Gain or

Gain or (Loss)

(Loss)

Recognized

Gain or

Reclassified

from

Gain or

(Loss)

from

Accumulated

Gain or

(Loss)

Reclassified

Accumulated

Other

(Loss)

Recognized

from

OCI into

Comprehensive

Recognized

in OCI

Accumulated

Earnings

Income into

in OCI on

Included

Excluded

OCI into

Included

Excluded

Earnings

Derivative

Component

Earnings

Component

(Dollars in thousands)

Derivatives in Cash Flow Hedging Relationships

Interest Rate Products

Interest Income

(589)

—

Interest Rate Products

Interest Expense

209

—

275

—

Total

(380)

—

275

—

December 31, 2022

Location of

Gain or

Gain or (Loss)

(Loss)

Recognized

Gain or

Reclassified

from

Gain or

(Loss)

from

Accumulated

Gain or

(Loss)

Reclassified

Accumulated

Other

(Loss)

Recognized

from

OCI into

Comprehensive

Recognized

in OCI

Accumulated

Earnings

Income into

in OCI on

Included

Excluded

OCI into

Included

Excluded

Earnings

Derivative

Component

Earnings

Component

(Dollars in thousands)

Derivatives in Cash Flow Hedging Relationships

Interest Rate Products

Interest Income

(5,403)

—

Interest Rate Products - terminated

Interest Expense

3,852

—

Total

(1,551)

—

As of December 31, 2023 and 2022, the Company had minimum collateral thresholds with certain of its derivative counterparties and has paid collateral of $1.0 million and zero and received collateral of $1.5 million and $4.9 million, respectively.

Acquisition Activities

12 Months Ended

Dec. 31, 2023

Acquisition Activities

Acquisition Activities

Note 2: Acquisition Activities

On August 1, 2023, the Company completed its acquisition of Canyon Bancorporation, Inc. and Canyon Community Bank, N.A. (collectively, “Canyon”) whereby Canyon Bancorporation, Inc. was ultimately merged with and into the Company and Canyon Community Bank, N.A. was merged with and into the Bank (collectively, the “Tucson acquisition”). Pursuant to the merger agreement executed in April 2023, the Company paid approximately $9.1 million of cash consideration and issued 597,645 shares of Company common stock, and the Company and the Bank assumed all of the assets and liabilities of the Canyon entities with which they merged by operation of law. The acquisition added one full-service branch within Arizona to the Company’s footprint thereby deepening its Arizona franchise as well as adding liquidity and talent.

On November 22, 2022, the Company completed its acquisition of Farmers & Stockmens Bank whereupon Farmers & Stockmens Bank was merged with and into the Bank (the “Colorado/New Mexico acquisition”). Pursuant to the merger agreement executed in June 2022, the Company paid $66.2 million of cash consideration and assumed all of the assets and liabilities of Farmers & Stockmens Bank by operation of law. The acquisition added three full-service branches within Colorado and New Mexico to the Company’s footprint, added experienced leaders, in particular in SBA lending, and accelerated the Company’s growth strategy.

Tucson acquisition-related costs totaled $3.6 million for the year ended December 31, 2023, including a Day 1 CECL provision expense of $0.9 million. Acquisition-related costs in connection with the Colorado/New Mexico acquisition totaled $1.7 million and $8.3 million for the years ended December 31, 2023 and 2022, respectively, including a Day 1 CECL provision expense of $4.4 million in 2022. Acquisition-related costs were included in the Company’s consolidated

statements of operations. The results of both acquisitions are included in the results of the Company subsequent to the acquisition dates and reported in this annual report on Form 10-K.

The Company determined that the Tucson acquisition and the Colorado/New Mexico acquisition constituted business combinations as defined in ASC Topic 805, Business Combinations. Accordingly, as of the dates of the acquisitions, the Company recorded the assets acquired and liabilities assumed at fair value. The Company determined fair values in accordance with the guidance provided in ASC Topic 820, Fair Value Measurements and Disclosures. In many cases, the determination of these fair values required management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. Actual results could differ materially. The Company has made the determination of fair values using the best information available at the time; however, with respect to the Tucson acquisition only, purchase accounting is not complete and the assumptions used are subject to change and, if changed, could have a material effect on the Company’s financial position and results of operations.

The table below summarizes preliminary (as to the Tucson acquisition) net assets acquired (at fair value) and consideration transferred in connection with the Tucson acquisition and the Colorado/New Mexico acquisition:


	Tucson		Colorado/New Mexico
		August 01, 2023	November 22, 2022

	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	28,366	$	191,916
Available-for-sale securities		38,084		41,103
Loans, net of unearned fees		105,668		388,531
Premises and equipment		1,335		2,270
Restricted equity securities		1,810		1,087
Interest receivable		695		2,514
Foreclosed assets held for sale		—		158
Core deposit intangible		4,459		16,465
Other		1,277		4,231
Total assets acquired		181,694		648,275

Liabilities:
Total deposits		165,399		570,275
Federal Home Loan Bank advances		—		10,559
Other borrowings		1,050		10,901
Interest payable and other liabilities		500		3,209
Total liabilities assumed		166,949		594,944

Identifiable net assets acquired	$	14,745	$	53,331

Consideration:
Cash		9,087		66,167
Stock		6,957		—
Total consideration		16,044		66,167

Goodwill	$	1,299	$	12,836

In connection with the Tucson acquisition, the Company recorded $1.3 million of goodwill, which is not deductible for tax purposes. In connection with the Colorado/New Mexico acquisition, the Company recorded $12.8 million of goodwill, which is deductible for tax purposes. The amount of goodwill recorded reflects the expanded market presence, synergies and operational efficiencies that are expected to result from the acquisition. The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above:

Cash and cash equivalents—The carrying amount of these assets was deemed a reasonable estimate of fair value based on the short-term nature of these assets.

Loans, net—The fair value of loans was based on a discounted cash flow methodology. Inputs and assumptions used in the fair value estimate of the loan portfolio, includes interest rate, servicing, credit and liquidity risk, and required equity return. The fair value of loans was calculated using a discounted cash flow analysis based on the remaining maturity and repricing terms. Cash flows were adjusted by estimating future credit losses and the rate of prepayments. Projected monthly cash flows were then discounted to present value using a risk-adjusted market rate for similar loans.

Core deposit intangibles—The Company identified client relationships, in the form of core deposit intangibles, as an identified intangible asset. Core deposit intangibles derive value from the expected future benefits or earnings capacity attributable to the acquired core deposits. The core deposit intangible was valued by identifying the expected future benefits of the core deposits and discounting those benefits back to present value. The core deposit intangible will be amortized over its estimated useful life of approximately 10 years using the sum of the years digits accelerated method.

Deposits - By definition, the fair value of demand and saving deposits equals the amount payable. For time deposits acquired, the Company utilized an income approach, discounting the contractual cash flows on the instruments over their remaining contractual lives at prevailing market rates.

FHLB Advances - FHLB advances are recorded at their fair value as estimated by discounting the contractual future cash flows using FHLB rates offered on similar maturities as of the acquisition date.

Accounting for acquired loans - Loans acquired are recorded at fair value with no carryover of the related allowance for credit losses. Purchased-credit deteriorated loans (“PCD”) are loans that have experienced more than insignificant credit deterioration since origination and are recorded at the purchase price. Management determined that any loans which were past due, adversely risk rated, on non-accrual or considered a troubled debt restructured loan were PCD loans. The allowance for credit losses is determined on a collective basis and is allocated to the individual loans. The sum of the loan’s purchase price and the allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan.

Non-PCD loans have not experienced a more than insignificant deterioration in credit quality since origination. The difference between the fair value and outstanding balance of the non-PCD loans is recognized as an adjustment to interest income over the lives of the loan.

A Day 1 CECL allowance for credit losses on the non-PCD loans was recorded through provision for credit loss expense within the consolidated statements of operations. At the date of acquisition, of the $105.7 million of loans acquired from Canyon, $26.0 million, or 25% of Canyon’s loan portfolio, were accounted for as PCD loans. $24.1 million of these PCD loans had United States Department of Agriculture guarantees on a portion of their balances. At the date of acquisition, of the $388.5 million of loans acquired in the Colorado/New Mexico acquisition, $20.5 million, or 5% of the Colorado/New Mexico acquisition’s loan portfolio, were accounted for as PCD loans.

The following table provides a summary of PCD loans purchased as part of the acquisitions as of the acquisition date:


	Tucson		Colorado/New Mexico
		8/1/2023		11/22/2022

	(Dollars in thousands)
Unpaid principal balance	$	28,159	$	22,005
PCD allowance for credit loss at acquisition		(329)		(916)
(Discount) premium on acquired loans		(1,809)		(566)
Purchase price of PCD loans	$	26,021	$	20,523

Pro forma information

The following table presents unaudited pro-forma information as if the Colorado/New Mexico acquisition had occurred on January 1, 2021. This pro forma information gives effect to certain adjustments, including purchase accounting fair value adjustments, amortization of core deposit intangible and related income tax effects and is based on the Company’s historical results for the periods presented. The Day 1 CECL provision of $4.4 million is included in the 2021 pro forma

results. Transaction-related costs related to the acquisition are not reflected in the pro forma amounts. The pro forma information does not necessarily reflect the results of operations that would have occurred had the Company closed the Colorado/New Mexico acquisition at the beginning of fiscal year 2021. Cost savings are also not reflected in the unaudited pro forma amounts.

The pro forma information is theoretical in nature and not necessarily indicative of future consolidated results of operations of the Company or the consolidated results of operations which would have resulted had the Colorado/New Mexico acquisition occurred at the beginning of the periods presented. The impact of the Tucson acquisition on 2022 and 2023 is immaterial and not included in pro-forma information provided below.


			Pro forma for Years Ended December 31,
	Actual from
	Acquisition Date
	through
	December 31, 2022		2022		2021

	(Dollars in thousands, except share and per share data)
Net interest income	$	1,906	$	209,957	$	186,824
Non-interest income		142		26,193		23,225
Net income		261		68,846		71,689

Pro-forma earnings per share:
Basic			$	1.39	$	1.40
Diluted				1.38		1.38

Weighted average shares outstanding:
Basic				49,489,860		51,291,428
Diluted				50,002,054		52,030,582

Employee Benefit Plan

12 Months Ended

Dec. 31, 2023

Employee Benefit Plan

Employee Benefit Plan

Note 15: Employee Benefit Plan

The Company has a retirement savings 401(k) plan covering substantially all employees. Employees may contribute a portion of their compensation to the plan. During 2023 and 2022, Company contributions to the plan were 100% on the first 5% of employees’ salary deferral amounts. During 2021, Company contributions to the plan were 100% on the first 1% of employees’ salary deferral amounts plus 50% of employees’ salary deferral amounts over 1%, but capped at 6%, of employees’ compensation. Additional contributions are discretionary and are determined annually by the Board of Directors. Company contributions to the plan were $2 million, $2 million and $1 million for 2023, 2022 and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Current tax expense	$ 19,526	$ 17,943	$ 14,892
Deferred income tax (benefit) expense	(2,086)	(1,970)	2,664
Income tax expense	$ 17,440	$ 15,973	$ 17,556

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Parent Company Condensed Financial Statements - Condensed Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income
Other	$ 2,251	$ 2,693	$ (2,674)
Expense
Salaries and employee benefits	89,178	75,288	61,080
Occupancy	12,355	10,663	9,688
Other	13,237	13,785	11,413
Income tax expense	17,440	15,973	17,556
Net Income	66,669	61,599	69,413
Parent Company
Income
Equity in undistributed earnings of subsidiaries	50,761	30,267	71,528
Distribution from subsidiaries	17,063	32,847
Management fees charged to subsidiaries	8,520	8,520	8,520
Other	49	153	2
Total income	76,393	71,787	80,050
Expense
Salaries and employee benefits	4,280	4,272	6,111
Occupancy	400	409	403
Other	5,155	5,893	4,718
Total expense	9,835	10,574	11,232
Income tax expense	(111)	(386)	(595)
Net Income	$ 66,669	$ 61,599	$ 69,413

Acquisition Activities - Summary Of PCD Loans Purchased (Details) - USD ($) $ in Thousands			12 Months Ended
	Aug. 01, 2023	Nov. 22, 2022	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
PCD allowance for credit loss at acquisition			$ 329	$ 915
Tucson acquisition
Business Acquisition [Line Items]
Unpaid principal balance	$ 105,668
Purchase price of PCD loans	26,000
Tucson acquisition \| Financial Asset Acquired with Credit Deterioration
Business Acquisition [Line Items]
Unpaid principal balance	28,159
PCD allowance for credit loss at acquisition	(329)
(Discount) premium on acquired loans	(1,809)
Purchase price of PCD loans	$ 26,021
Colorado/New Mexico Acquisition
Business Acquisition [Line Items]
Unpaid principal balance		$ 388,531
Purchase price of PCD loans		20,500
Colorado/New Mexico Acquisition \| Financial Asset Acquired with Credit Deterioration
Business Acquisition [Line Items]
Unpaid principal balance		22,005
PCD allowance for credit loss at acquisition		(916)
(Discount) premium on acquired loans		(566)
Purchase price of PCD loans		$ 20,523

Foreclosed Assets (Tables)

12 Months Ended

Dec. 31, 2023

Foreclosed Assets

Schedule of Foreclosed Assets


	As of or for the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Beginning balance	$	1,130	$	1,148	$	2,347
Transfers from loan portfolio, at fair value		—		—		—
Foreclosed asset acquired		—		157		—
Direct write-downs		—		—		(629)
Sales or other proceeds from foreclosed assets		(1,050)		(175)		(628)
Loss (gain) on sale of foreclosed assets		(80)		—		58
Ending balance	$	—	$	1,130	$	1,148

Loans and Allowance for Credit Losses - Category of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 6,127,690	$ 5,372,729
Allowance for credit losses on loans	(73,462)	(61,775)	$ (56,628)
Loans, net of the allowance for credit losses on loans	$ 6,054,228	$ 5,310,954
Percentage Of Loans	100.00%	100.00%
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 2,160,212	$ 1,974,932
Allowance for credit losses on loans	$ (32,244)	$ (26,803)	(19,005)
Percentage Of Loans	35.00%	37.00%
Energy
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 214,218	$ 173,218
Allowance for credit losses on loans	$ (3,143)	$ (4,396)	(9,190)
Percentage Of Loans	3.00%	3.00%
Commercial real estate - owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 566,253	$ 437,119
Allowance for credit losses on loans	$ (6,445)	$ (5,214)	(3,852)
Percentage Of Loans	9.00%	8.00%
Commercial real estate - non-owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 2,685,534	$ 2,314,600
Allowance for credit losses on loans	$ (28,130)	$ (21,880)	(21,212)
Percentage Of Loans	44.00%	43.00%
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 464,095	$ 439,367
Allowance for credit losses on loans	$ (3,456)	$ (3,333)	(3,231)
Percentage Of Loans	8.00%	8.00%
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned fees	$ 37,378	$ 33,493
Allowance for credit losses on loans	$ (44)	$ (149)	$ (138)
Percentage Of Loans	1.00%	1.00%

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 66,669	$ 61,599	$ 69,413
Other Comprehensive Income (Loss)
Unrealized gain (loss) on available-for-sale securities	18,879	(111,661)	(8,894)
Less: income tax expense (benefit)	4,722	(26,870)	(2,182)
Unrealized gain (loss) on available-for-sale securities	14,157	(84,791)	(6,712)
Reclassification adjustment for realized (loss) gain included in income	(1,127)	96	1,023
Less: income tax (benefit) expense	(266)	24	245
Less: reclassification adjustment for realized (loss) gain included in income, net of income tax	(861)	72	778
Unrealized loss on cash flow hedges	(380)	(1,551)	(562)
Less: income tax benefit	(83)	(368)	(138)
Unrealized loss on cash flow hedges, net of income tax	(297)	(1,183)	(424)
Reclassification adjustment for gain on cash flow hedges	275
Less: income tax expense	65
Less: reclassification adjustment for gain on cash flow hedges, net of income tax	210
Other comprehensive income (loss)	14,511	(86,046)	(7,914)
Comprehensive Income (Loss)	$ 81,180	$ (24,447)	$ 61,499

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect adjustment	$ (708,143)	$ (608,599)	$ (667,573)	$ (624,428)
Compensation expense	5,281	4,417	4,584
Retained Earnings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect adjustment	$ (272,351)	(206,095)	(147,099)	$ (77,652)
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	7 years
Compensation expense	$ 216	325	711
Award vesting period	7,000
Unrecognized compensation cost	$ 622	$ 795	$ 1,249
Period for recognizing stock-based compensation expense	4 years 4 months 24 days	4 years 8 months 12 days	4 years 1 month 6 days
Stock Appreciation Rights - Legacy Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	15 years
Other Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Performance-based stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (in shares)	128,005
Compensation expense	$ 1,074	$ 774	$ 741
Total fair value	298	26	3,400
Unrecognized compensation cost	$ 1,700
Period for recognizing stock-based compensation expense	1 year 10 months 24 days
Performance-based stock awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	0.00%
Performance-based stock awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award payout percentage	150.00%
Restricted stock units and awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	333,979
Compensation expense	$ 3,824	3,200	3,047
Total fair value	3,000	3,300	3,400
Unrecognized compensation cost	$ 3,400
Period for recognizing stock-based compensation expense	1 year 7 months 6 days
Restricted stock units and awards \| Key Officers and Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted stock units and awards \| Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 167	$ 118	$ 85
Employee Share Price Percentage Of Fair Market Value	85.00%
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for future issuance (in shares)	1,784,304

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Feb. 29, 2024	May 10, 2022
Class of Stock [Line Items]
Series A preferred stock aggregate purchase price		$ 7,750
Preferred dividends		413
Stock repurchase program, authorized amount		16,000		$ 30,000
Series A Preferred Stock
Class of Stock [Line Items]
Issuance of preferred shares (in shares)	7,750
Series A preferred stock aggregate purchase price	$ 7,800
Aggregate dividends		$ 413
Series A Preferred Stock \| Subsequent Event [Member]
Class of Stock [Line Items]
Dividends Payable amount per share			$ 20.00

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
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-Paragraph 13
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+ Details

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

Acquisition Activities (Tables)

12 Months Ended

Dec. 31, 2023

Acquisition Activities

Summary of Preliminary Net Assets Acquired and Consideration Transferred


	Tucson		Colorado/New Mexico
		August 01, 2023	November 22, 2022

	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	28,366	$	191,916
Available-for-sale securities		38,084		41,103
Loans, net of unearned fees		105,668		388,531
Premises and equipment		1,335		2,270
Restricted equity securities		1,810		1,087
Interest receivable		695		2,514
Foreclosed assets held for sale		—		158
Core deposit intangible		4,459		16,465
Other		1,277		4,231
Total assets acquired		181,694		648,275

Liabilities:
Total deposits		165,399		570,275
Federal Home Loan Bank advances		—		10,559
Other borrowings		1,050		10,901
Interest payable and other liabilities		500		3,209
Total liabilities assumed		166,949		594,944

Identifiable net assets acquired	$	14,745	$	53,331

Consideration:
Cash		9,087		66,167
Stock		6,957		—
Total consideration		16,044		66,167

Goodwill	$	1,299	$	12,836

Summary Of PCD Loans Purchased


	Tucson		Colorado/New Mexico
		8/1/2023		11/22/2022

	(Dollars in thousands)
Unpaid principal balance	$	28,159	$	22,005
PCD allowance for credit loss at acquisition		(329)		(916)
(Discount) premium on acquired loans		(1,809)		(566)
Purchase price of PCD loans	$	26,021	$	20,523

Summary of Pro Forma Information


			Pro forma for Years Ended December 31,
	Actual from
	Acquisition Date
	through
	December 31, 2022		2022		2021

	(Dollars in thousands, except share and per share data)
Net interest income	$	1,906	$	209,957	$	186,824
Non-interest income		142		26,193		23,225
Net income		261		68,846		71,689

Pro-forma earnings per share:
Basic			$	1.39	$	1.40
Diluted				1.38		1.38

Weighted average shares outstanding:
Basic				49,489,860		51,291,428
Diluted				50,002,054		52,030,582

Stock-Based Compensation - Performance-Based Awards Activity (Details) - Performance-based stock awards	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	134,286
Granted (in shares) \| shares	128,005
Vested (in shares) \| shares	(20,736)
Forfeited (in shares) \| shares	(8,568)
Ending balance (in shares) \| shares	232,987
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 14.52
Granted (in dollars per share) \| $ / shares	14.13
Vested (in dollars per share) \| $ / shares	13.55
Forfeited (in dollars per share) \| $ / shares	14.78
Ending balance (in dollars per share) \| $ / shares	$ 14.38

Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 2023

Borrowing Arrangements

Schedule of Borrowings


	As of and For the Year Ended December 31,
	2023						2022

	(Dollars in thousands)
					Maximum Balance						Maximum Balance
					at Any						at Any
	Balance		Rate⁽⁷⁾		End of Month		Balance		Rate⁽⁷⁾		End of Month
Repurchase agreements⁽¹⁾	$	—	—	%	$	1,557	$	—	—	%	$	5,695
Federal funds purchased⁽²⁾		—	—			20,000		20,000	4.65			20,000
FHLB advances⁽³⁾		77,889	2.06			137,127		143,143	2.27			236,600
FHLB line of credit⁽³⁾		—	—			316,222		74,968	4.48			140,000
Line of credit⁽⁴⁾		—	—			7,500		5,000	7.50			5,000
SBA secured borrowing⁽⁵⁾		7,832	NA			9,396		9,396	NA			10,897
Trust preferred security⁽⁶⁾		1,118	7.39	%	$	1,118		1,061	6.51	%	$	1,061
Total borrowings	$	86,839					$	253,568

(1)

Repurchase agreements consist of Bank obligations to other parties payable on demand and generally have one day maturities. The obligations are collateralized by securities of U.S. government sponsored enterprises and mortgage-backed securities and such collateral is held by a third-party custodian. The year-to-date average daily balance was $0.3 million and less than one thousand for the years ended December 31, 2023 and 2022, respectively. The securities, mortgage-backed government sponsored residential securities, pledged for client repurchase agreements were $0 at both December 31, 2023 and 2022.

(2)	Federal funds purchased include short-term funds that are borrowed from another bank. The Bank is part of a third-party service that allows us to borrow amounts from another bank if the bank has approved us for credit. Federal funds purchased generally have one day maturities.

(3)	FHLB advances and line of credit are collateralized by a blanket floating lien on certain loans as well as unrestricted securities. FHLB advances are at a fixed rate, ranging from 0.95% to 2.84%, and are subject to restrictions or penalties in the event of prepayment.

(4)	The line of credit is a general bank line of credit maintained by the Company for short-term liquidity.

(5)

As part of the Colorado/New Mexico acquisition, the Company acquired certain SBA loans that failed the derecognition criteria of ASC 860 and therefore are accounted for as secured borrowings. The secured borrowing was recorded at estimated fair value at the date of acquisition and reduces over time in connection with the related loan balance.

(6)

On June 30, 2010, the Company assumed a liability with a fair value of $1 million related to the assumption of trust preferred securities issued by Leawood Bancshares Statutory Trust I for $4 million on September 30, 2005. In 2012, the Company settled litigation related to the trust preferred securities which decreased the principal balance by $1.5 million and the recorded balance by approximately $400 thousand. The difference between the recorded amount and the contract value of $2.6 million is being accreted to the maturity date in 2035. Distributions will be paid on each security at a variable annual rate of interest, equal to SOFR, plus 1.74%.

(7)	Represents the year-end weighted average interest rate.

Schedule of Other Borrowing Capacities


	As of December 31,
	2023		2022

	(Dollars in thousands)
FHLB borrowing capacity relating to loans	$	560,999	$	391,910
FHLB borrowing capacity relating to securities		—		—
Total FHLB borrowing capacity	$	560,999	$	391,910
Unused Federal Reserve borrowing capacity	$	780,588	$	503,899

Schedule of Time Deposit Maturities and Borrowings


	As of December 31, 2023
	Within One		One to Two		Two to Three		Three to		Four to Five		After Five
	Year		Years		Years		Four Years		Years		Years		Total

	(Dollars in thousands)
Time deposits	$	1,654,453	$	171,711	$	1,633	$	2,333	$	962	$	—	$	1,831,092
Fed funds purchased & repurchase agreements		—		—		—		—		—		—		—
FHLB borrowings		—		5,100		—		39,000		26,000		7,789		77,889
FHLB line of credit		—		—		—		—		—		—		—
Line of credit		—		—		—		—		—		—		—
SBA secured borrowing		—		—		—		—		—		7,832		7,832
Trust preferred securities⁽¹⁾		—		—		—		—		—		1,118		1,118
Total	$	1,654,453	$	176,811	$	1,633	$	41,333	$	26,962	$	16,739	$	1,917,931

(1)	The contract value of the trust preferred securities is $2.6 million and is currently being accreted to the maturity date of 2035.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Regulatory Matters (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Total Capital to Risk-Weighted Assets
Actual, amount	$ 807,018	$ 715,416
Actual, ratio	0.112	0.105
Required to be Considered Adequately Capitalized, amount	$ 756,285	$ 714,162
Required to be Considered Adequately Capitalized, ratio	0.105	0.105
Tier I Capital to Risk-Weighted Assets
Actual, amount	$ 727,723	$ 644,953
Actual, ratio	0.101	0.095
Required to be Considered Adequately Capitalized, amount	$ 612,231	$ 578,131
Required to be Considered Adequately Capitalized, ratio	0.085	0.085
Common Equity Tier 1 to Risk-Weighted Assets
Actual, amount	$ 718,855	$ 643,892
Actual, ratio	0.100	0.095
Required to be Considered Adequately Capitalized, amount	$ 504,190	$ 476,108
Required to be Considered Adequately Capitalized, ratio	0.07%	0.07%
Tier I Capital to Average Assets
Actual, amount	$ 727,723	$ 644,953
Actual, ratio	0.100	0.103
Required to be Considered Adequately Capitalized, amount	$ 292,517	$ 249,270
Required to be Considered Adequately Capitalized, amount	0.040	0.040
Capital conservation buffer	0.025	0.025
Bank
Total Capital to Risk-Weighted Assets
Actual, amount	$ 800,522	$ 714,300
Actual, ratio	0.111	0.105
Required to be considered well capitalized, amount	$ 719,705	$ 679,793
Required to be considered well capitalized, ratio	0.100	0.100
Required to be Considered Adequately Capitalized, amount	$ 755,691	$ 713,783
Required to be Considered Adequately Capitalized, ratio	0.105	0.105
Tier I Capital to Risk-Weighted Assets
Actual, amount	$ 721,227	$ 643,837
Actual, ratio	0.100	0.095
Required to be considered well capitalized, amount	$ 575,764	$ 543,835
Required to be considered well capitalized, ratio	0.080	0.080
Required to be Considered Adequately Capitalized, amount	$ 611,750	$ 577,824
Required to be Considered Adequately Capitalized, ratio	0.085	0.085
Common Equity Tier 1 to Risk-Weighted Assets
Actual, amount	$ 721,227	$ 643,837
Actual, ratio	0.100	0.095
Required to be considered well capitalized, amount	$ 467,809	$ 441,866
Required to be considered well capitalized, ratio	0.065%	0.065%
Required to be Considered Adequately Capitalized, amount	$ 503,794	$ 475,855
Required to be Considered Adequately Capitalized, ratio	0.07%	0.07%
Tier I Capital to Average Assets
Actual, amount	$ 721,227	$ 643,837
Actual, ratio	0.099	0.103
Required to be considered well capitalized, amount	$ 365,675	$ 311,623
Required to be considered well capitalized, ratio	0.050	0.050
Required to be Considered Adequately Capitalized, amount	$ 292,540	$ 249,299
Required to be Considered Adequately Capitalized, amount	0.040	0.040

Goodwill and Core Deposit Intangible - Core Deposit Intangible Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Estimated Amortization Expense Over Next Five Years for Core Deposit Intangible
2024	$ 3,569
2025	3,155
2026	2,739
2027	2,325
2028	$ 1,909

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 66,669	$ 61,599	$ 69,413

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-Section S99
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+ Details

Commitments and Credit Risk (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Credit Risk

Schedule of commitments


	December 31, 2023		December 31, 2022

	(Dollars in thousands)
Commitments to originate loans	$	59,728	$	134,961
Standby letters of credit		74,139		66,889
Lines of credit		2,008,356		2,705,730
Future lease commitments		—		1,888
Commitment related to investment fund		4,206		3,403
Total	$	2,146,429	$	2,912,871

Disclosure about Fair Value of Financial Instruments - Quantitative Information about Unobservable Inputs Used in Nonrecurring Basis (Details) - Fair Value, Nonrecurring $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 10,570	$ 8,728
Foreclosed assets held-for-sale		1,745
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 10,570	8,728
Foreclosed assets held-for-sale		$ 1,745
Level 3 \| Appraisal of collateral \| Appraisal of collateral \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans, measurement input	0	0
Level 3 \| Appraisal of collateral \| Appraisal of collateral \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans, measurement input	0.56	1
Level 3 \| Appraisal of collateral \| Appraisal of collateral \| Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans, measurement input	0.22	0.13
Level 3 \| Marketability discount \| Market comparable properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed assets held-for-sale, measurement input		0.10
Level 3 \| Marketability discount \| Market comparable properties \| Weighted Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreclosed assets held-for-sale, measurement input		0.10

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Right-of-use asset	$ 30.0	$ 31.0
Lease liability	$ 34.0	34.0
Weighted average remaining lease term	10 years 8 months 12 days
Weighted average discount rate	2.76%
Rent expense			$ 3.5
Operating cash flows paid for operating lease	$ 3.4	3.0
Operating cash flows paid for finance lease	0.5	0.4
ROU assets that were exchanged for operating lease liabilities	$ 2.2	23.6
ROU assets that were exchanged for finance lease liabilities		$ 7.8
Minimum
Lessee Lease Description [Line Items]
Remaining lease term	2 years
Renewal term	5 years
Maximum
Lessee Lease Description [Line Items]
Remaining lease term	18 years
Renewal term	20 years

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net income	$ 66,669	$ 61,599	$ 69,413
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,461	5,305	5,260
Provision for loan losses	14,489	11,501	(4,000)
Accretion of discounts on loans	(2,548)	(252)
Accretion of discounts and amortization of premiums on securities	2,759	4,288	5,067
Stock-based compensation	5,281	4,417	4,584
Gain on disposal of fixed assets	(67)	(77)	(123)
Loss (gain) on sale of foreclosed assets and related impairments	80	(62)	572
Gain on sale of loans	(2,684)	(47)
Origination of loans held for sale	(47,643)
Proceeds from sale of loans held for sale	50,997
Deferred income taxes	(2,086)	(1,970)	2,664
Net increase in bank owned life insurance	(1,709)	(1,602)	(3,483)
Net realized (gains) losses on equity securities	(132)	181	6,325
Net realized losses (gains) on available-for-sale securities	1,127	(96)	(1,023)
Dividends on FHLB stock	(842)	(699)	(679)
Prepayment penalties on extinguishment of debt			771
Changes in:
Interest receivable	(7,092)	(10,970)	1,213
Other assets	5,032	1,814	(533)
Other liabilities	8,263	7,023	2,343
Net cash provided by operating activities	99,355	80,353	88,371
Investing Activities
Net change in loans	(654,056)	(732,041)	172,764
Purchases of available-for-sale and equity securities	(220,437)	(116,136)	(225,719)
Proceeds from maturities of available-for-sale securities	35,593	80,091	103,488
Proceeds from sale of available-for-sale and equity securities	157,885	20,109	20,867
Proceeds from the sale of foreclosed assets	1,050	237	628
Purchase of premises and equipment	(8,954)	(2,569)	(1,211)
Proceeds from the sale of premises and equipment and related insurance claims	67	147	608
Purchase of restricted equity securities	(11,465)	(13,175)
Proceeds from sale of restricted equity securities	22,791	14,352	4,295
Proceeds from termination of cash flow hedge		3,290
Proceeds from death benefit on bank owned life insurance			3,483
Net cash activity from acquisitions	19,279	125,749
Net cash (used in) provided by investing activities	(658,247)	(619,946)	79,203
Financing Activities
Net (decrease) increase in demand deposits, savings, NOW and money market accounts	(192,728)	94,529	407,952
Net increase (decrease) in time deposits	867,140	302,889	(419,095)
Net decrease in fed funds purchased and repurchase agreements	(1,050)		(2,306)
Net (decrease) increase in federal funds sold	(20,000)	20,000
Proceeds from Federal Home Loan Bank advances	22,671	50,000
Repayment of Federal Home Loan Bank advances	(88,264)	(154,048)	(57,271)
Net (repayments) proceeds of lines of credit	(79,968)	79,968
Proceeds from issuance of preferred shares, net of issuance cost	7,750
Issuance of common shares, net of issuance cost	3	4	3
Proceeds from employee stock purchase plan	402	364	172
Repurchase of common stock		(35,780)	(22,286)
Acquisition of common stock for tax withholding obligations	(1,142)	(929)	(860)
Settlement of warrants	(418)
Net decrease in employee receivables		7	34
Dividends paid on preferred stock	(413)
Net cash provided by (used in) financing activities	513,983	357,004	(93,657)
(Decrease) increase in Cash and Cash Equivalents	(44,909)	(182,589)	73,917
Cash and Cash Equivalents, Beginning of Period	300,138	482,727	408,810
Cash and Cash Equivalents, End of Period	255,229	300,138	482,727
Supplemental Cash Flows Information
Interest paid	197,490	50,604	25,287
Income taxes paid	$ 21,509	$ 15,499	$ 12,554

Acquisition Activities - Preliminary Net Assets Acquired And Consideration Transferred (Details) - USD ($) $ in Thousands	Aug. 01, 2023	Nov. 22, 2022	Dec. 31, 2023	Dec. 31, 2022
Consideration:
Goodwill			$ 14,135	$ 12,836
Tucson acquisition
Assets:
Cash and cash equivalents	$ 28,366
Available-for-sale securities	38,084
Loans, net of unearned fees	105,668
Premises and equipment	1,335
Restricted equity securities	1,810
Interest receivable	695
Core deposit intangible	4,459
Other	1,277
Total assets acquired	181,694
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Total deposits	165,399
Other borrowings	1,050
Interest payable and other liabilities	500
Total liabilities assumed	166,949
Identifiable net assets acquired	14,745
Consideration:
Cash	9,087
Stock	6,957
Total consideration	16,044
Goodwill	$ 1,299
Colorado/New Mexico Acquisition
Assets:
Cash and cash equivalents		$ 191,916
Available-for-sale securities		41,103
Loans, net of unearned fees		388,531
Premises and equipment		2,270
Restricted equity securities		1,087
Interest receivable		2,514
Foreclosed assets held for sale		158
Core deposit intangible		16,465
Other		4,231
Total assets acquired		648,275
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]
Total deposits		570,275
Federal Home Loan Bank advances		10,559
Other borrowings		10,901
Interest payable and other liabilities		3,209
Total liabilities assumed		594,944
Identifiable net assets acquired		53,331
Consideration:
Cash		66,167
Total consideration		66,167
Goodwill		$ 12,836

Interest-bearing Time Deposits

12 Months Ended

Dec. 31, 2023

Interest-bearing Time Deposits

Interest-bearing Time Deposits

Note 10: Interest-bearing Time Deposits

Interest-bearing time deposits in denominations of $250 thousand or more were $487 million and $319 million as of December 31, 2023 and 2022, respectively.

The Company acquires brokered deposits in the normal course of business. At December 31, 2023 and 2022, brokered deposits of approximately $876 million and $382 million, respectively, were included in the Company’s time deposit balance. Reciprocal deposits, which includes The Certificate of Deposit Account Registry Services (“CDARS”) discussed below, are treated as core deposits instead of brokered deposits and are not included in the above amounts.

The Company is a member of CDARS that allows depositors to receive FDIC insurance on amounts greater than the FDIC insurance limit, which is currently $250,000. CDARS allows institutions to break large deposits into smaller amounts and place them in a network of other CDARS institutions to ensure full FDIC insurance is gained on the entire deposit. CDARS totaled approximately $42 million and $4 million as of December 31, 2023 and 2022, respectively.

The scheduled maturities for time deposits are provided in Note 11: Borrowing Arrangements below.

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest Income
Loans, including fees	$ 400,910	$ 224,138	$ 174,660
Available-for-sale securities - taxable	11,518	4,577	3,273
Available-for-sale securities - tax-exempt	13,846	15,338	14,033
Deposits with financial institutions	8,017	3,751	502
Dividends on bank stocks	860	709	682
Total interest income	435,151	248,513	193,150
Interest Expense
Deposits	201,812	49,982	18,523
Fed funds purchased and repurchase agreements	54	96	3
Federal Home Loan Bank Advances	7,754	4,759	5,837
Other borrowings	690	142	96
Total interest expense	210,310	54,979	24,459
Net Interest Income	224,841	193,534	168,691
Provision for Credit Losses	14,489	11,501	(4,000)
Net Interest Income after Provision for Credit Losses	210,352	182,033	172,691
Non-Interest Income
Service charges and fees on client accounts	8,186	6,228	4,580
ATM and credit card interchange income	5,469	6,523	7,996
Gain on sale of loans	2,684	47
Income from bank-owned life insurance	1,709	1,602	3,483
Swap fees and credit valuation adjustments, net	365	188	275
Other non-interest income	2,251	2,693	(2,674)
Total non-interest income	20,664	17,281	13,660
Non-Interest Expense
Salaries and employee benefits	89,178	75,288	61,080
Occupancy	12,355	10,663	9,688
Professional fees	7,081	5,275	3,519
Deposit insurance premiums	7,261	3,354	3,705
Data processing	4,255	4,750	2,878
Advertising	2,886	3,201	2,090
Software and communication	7,023	5,093	4,234
Foreclosed assets, net	128	(17)	697
Other non-interest expense	13,237	13,785	11,413
Core deposit intangible amortization	3,503	350	78
Total non-interest expense	146,907	121,742	99,382
Net Income Before Taxes	84,109	77,572	86,969
Income tax expense	17,440	15,973	17,556
Net Income	$ 66,669	$ 61,599	$ 69,413
Basic Earnings Per Common Share (in dollars per share)	$ 1.35	$ 1.24	$ 1.35
Diluted Earnings Per Common Share (in dollars per share)	$ 1.34	$ 1.23	$ 1.33

Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Premises and Equipment

Schedule of major classifications of premises and equipment


	As of December 31,
	2023		2022

	(Dollars in thousands)
Land	$	8,689	$	7,579
Building and improvements		69,320		65,101
Furniture and fixtures		15,797		14,523
Equipment		13,278		10,066
Construction in progress		1,252		1,172
Premises and equipment		108,336		98,441
Less: accumulated depreciation		37,467		32,457
Premises and equipment, net	$	70,869	$	65,984

Leases

12 Months Ended

Dec. 31, 2023

Leases

Leases

Note 6: Leases

The Company’s leases primarily include bank branches located in Kansas City, Missouri; Tulsa, Oklahoma; Dallas, Texas; Frisco, Texas; Fort Worth, Texas; Phoenix, Arizona; Denver, Colorado and Colorado Springs, Colorado. The remaining terms on these branch leases range from less than two years to eighteen years with certain options to renew. Renewal terms can extend the lease terms between five years and twenty years. The exercise of lease renewal options is at the Company’s sole discretion. When it is reasonably certain that the Company will exercise its option to renew or extend the lease term, that option is included in the estimated value of the right of use (“ROU”) asset and lease liability. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2023, the Company recognized one finance lease and the remaining Company leases are classified as operating leases.

The ROU asset is included in “Other assets” on the consolidated statements of financial condition, and was $30 million and $31 million at December 31, 2023 and 2022, respectively. Certain adjustments to the ROU asset may be required for items such as initial direct costs paid or incentives received. The lease liability is located in “Interest payable and other liabilities” on the consolidated statements of financial condition and was $34 million at December 31, 2023 and 2022.

As of December 31, 2023, the weighted-average remaining lease term is 10.7 years and the weighted-average discount rate was 2.76% utilizing the Company’s incremental FHLB borrowing rate for borrowings of a similar term at the date of lease commencement.

The following table presents components of operating lease expense in the accompanying consolidated statements of operations for the years ended December 31, 2023 and 2022:


	Year Ended December 31,		Year Ended December 31,
	2023		2022
	(Dollars in thousands)		(Dollars in thousands)
Finance lease amortization of right-of-use asset	$	284	$	231
Finance leases interest on lease liability		271		185
Operating lease expense		2,933		2,577
Variable lease expense		1,816		1,222
Short-term lease expense		15		20
Total lease expense	$	5,319	$	4,235

Future minimum lease payments under operating and finance leases were as follows:


	Operating Leases		Finance Lease

	(Dollars in thousands)
2024	$	3,657	$	490
2025		3,806		490
2026		3,852		490
2027		3,847		528
2028		3,427		540
Thereafter		10,750		7,704
Total lease payments		29,339		10,242
Less: imputed interest		2,928		2,842
Total	$	26,411	$	7,400

Rent expense for the year ended December 31, 2021 was $3.5 million.

Supplemental cash flow information

Operating cash flows paid for operating leases and finance leases included in the measurement of lease liabilities were $3.4 million and $0.5 million, respectively, for the year ended December 31, 2023. During the year ended December 31, 2023, the Company recorded ROU assets in the amount of $2.2 million that were exchanged for operating lease liabilities.

Operating cash flows paid for operating leases and finance leases included in the measurement of lease liabilities were $3.0 million and $0.4 million, respectively, for the year ended December 31, 2022. During the year ended December 31, 2022, the Company recorded ROU assets in the amount of $23.6 million that were exchanged for operating lease liabilities and $7.8 million that were exchanged for finance lease liabilities.

Foreclosed Assets

12 Months Ended

Dec. 31, 2023

Foreclosed Assets

Foreclosed Assets

Note 9: Foreclosed Assets

Foreclosed asset activity was as follows:


	As of or for the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Beginning balance	$	1,130	$	1,148	$	2,347
Transfers from loan portfolio, at fair value		—		—		—
Foreclosed asset acquired		—		157		—
Direct write-downs		—		—		(629)
Sales or other proceeds from foreclosed assets		(1,050)		(175)		(628)
Loss (gain) on sale of foreclosed assets		(80)		—		58
Ending balance	$	—	$	1,130	$	1,148

For the year ended December 31, 2023, the Company sold two commercial use facilities foreclosed upon in prior years. For the year ended December 31, 2022, the Company acquired a foreclosed property as part of the Colorado/New Mexico acquisition and received proceeds from expired earnest funds on a pre-existing property. For the year ended

December 31, 2021, the Company sold certain raw land foreclosed upon in 2019 and a commercial use facility foreclosed upon in 2020.

(Losses) gains on the sale of foreclosed assets are reported on the consolidated statements of operations under the foreclosed assets, net section.

Parent Company Condensed Financial Statements

12 Months Ended

Dec. 31, 2023

Parent Company Condensed Financial Statements

Parent Company Condensed Financial Statements

Note 22: Parent Company Condensed Financial Statements

The following are the condensed financial statements of CrossFirst Bankshares, Inc. (Parent only) for the periods indicated:

Condensed Statements of Financial Condition


	Year Ended December 31,
	2023		2022

	(Dollars in thousands)
Assets
Cash	$	2,445	$	4,457
Equity method investments		3,998		2,597
Investment in subsidiaries		703,532		608,545
Other assets		9,172		8,776
Total assets	$	719,147	$	624,375
Liabilities and stockholders’ equity
Other borrowings	$	—	$	5,000
Trust preferred securities, net		1,118		1,061
Other liabilities		9,886		9,715
Total liabilities		11,004		15,776
Stockholders’ equity		708,143		608,599
Total liabilities and stockholders’ equity	$	719,147	$	624,375

Condensed Statements of Operations


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Income
Equity in undistributed earnings of subsidiaries	$	50,761	$	30,267	$	71,528
Distributions from subsidiaries		17,063		32,847		—
Management fees charged to subsidiaries		8,520		8,520		8,520
Other		49		153		2
Total income		76,393		71,787		80,050
Expense
Salaries and employee benefits		4,280		4,272		6,111
Occupancy, net		400		409		403
Other		5,155		5,893		4,718
Total expense		9,835		10,574		11,232
Income tax benefit		(111)		(386)		(595)
Net income	$	66,669	$	61,599	$	69,413

Condensed Statements of Cash Flows


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Operating Activities
Net income	$	66,669	$	61,599	$	69,413
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings of consolidated subsidiaries		(50,761)		(30,267)		(71,528)
Stock-based compensation		1,735		1,511		2,332
Other adjustments		293		(256)		(155)
Net cash provided by operating activities		17,936		32,587		62
Investing Activities
Investment in subsidiaries, net		(10,250)		(18,000)		—
Net cash activity from acquisition		(8,960)		—		—
Increase in equity investments		(1,401)		(2,164)		(433)
Purchase of equipment		(519)		—		—
Net cash used in investing activities		(21,130)		(20,164)		(433)
Financing Activities
Net (repayment) proceeds from lines of credit		(5,000)		5,000		—
Proceeds from issuance of preferred shares, net of issuance cost		7,750		—		—
Issuance of common stock, net		3		4		3
Open market common share repurchases		—		(35,780)		(22,286)
Acquisition of common stock for tax withholding obligations		(1,142)		(929)		(860)
Proceeds from employee stock purchase plan		402		364		172
Dividends paid on preferred stock		(413)		—		—
Settlement of warrants		(418)		—		—
Net decrease in employee receivables		—		7		34
Net cash provided by (used in) financing activities		1,182		(31,334)		(22,937)
Decrease in cash		(2,012)		(18,911)		(23,308)
Cash at beginning of year		4,457		23,368		46,676
Cash at end of year	$	2,445	$	4,457	$	23,368

Derivatives and Hedging Activities - Schedule of Derivative Instruments (Details) - Interest rate products - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivatives and Hedging Activities
Asset Derivatives	$ 7,931	$ 11,038
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Liability Derivatives	$ 13,829	$ 16,442
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Interest Payable And Other Liabilities	Interest Payable And Other Liabilities
Not Designated as Hedging Instrument
Derivatives and Hedging Activities
Asset Derivatives	$ 7,830	$ 11,038
Liability Derivatives	7,837	11,039
Designated as Hedging Instrument
Derivatives and Hedging Activities
Asset Derivatives	101
Liability Derivatives	$ 5,992	$ 5,403

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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- Definition

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+ Details

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation

Stock-Based Compensation

Note 17: Stock-Based Compensation

The Company issues stock-based compensation in the form of non-vested restricted stock, restricted stock units and stock appreciation rights under the CrossFirst Bankshares, Inc. 2018 Omnibus Equity Incentive Plan (as amended, restated or

supplemented, the “Omnibus Plan”). The Omnibus Plan will expire on October 25, 2028, unless extended. The aggregate number of shares available for future issuance under the Omnibus Plan was 1,784,304 shares as of December 31, 2023. The Company will issue new common shares upon exercise or vesting of stock-based awards.

During 2018, awards issued under the Stock Settled Appreciation Right Plan, Equity Incentive Plan, Employee Equity Incentive Plan and New Market Founder Plan were assumed under the Omnibus Plan as agreed upon with participants, impacting all participants who agreed to the assumption, and herein referred to as “Legacy Awards”. Material terms and conditions of Legacy Awards remain unchanged; therefore, no modification to their fair market value was required. Going forward, all awards are issued under the Omnibus Plan.

The table below summarizes stock-based compensation expense for the years ended December 31, 2023, 2022, and 2021:


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Stock appreciation rights	$	216	$	325	$	711
Performance-based stock awards		1,074		774		741
Restricted stock units and awards		3,824		3,200		3,047
Employee stock purchase plan		167		118		85
Total stock-based compensation	$	5,281	$	4,417	$	4,584

Stock-Settled Appreciation Rights

The Company issues stock-settled appreciation rights (“SSARs”) with exercise prices equal to the closing price of the Company’s common shares on the date of grant. SSARs typically vest ratably over seven years of continuous service and have fifteen-year contractual terms for Legacy Awards and ten-year contractual terms for all other SSARs. The fair value of each SSAR was estimated at the grant date using a Black-Scholes option pricing model.

The following table provides the range of assumptions used in the Black-Scholes option pricing model, the weighted average grant date fair value, and information related to SSARs exercised for the following years, as well as, the remaining compensation cost to be recognized and period over which the amount will be recognized as of the dates indicated:


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands, except per share data)
Assumptions:
Expected volatility⁽¹⁾		42.76%		44.1% - 45.41%		42.93% - 43.29%
Expected dividends⁽²⁾		0.00%		0.00%		0.00%
Expected term (in years)⁽³⁾		7.00		7.00 - 7.01		7.00 - 7.01
Risk-free rate⁽⁴⁾		4.71%		2.8% - 3.62%		0.94% - 1.36%
Weighted average grant date fair value per share	$	5.58	$	6.86	$	6.50
Aggregate intrinsic value of SSARs exercised	$	1,007	$	1,578	$	1,297
Total fair value of SSARs vested during the year	$	279	$	484	$	1,087
Unrecognized compensation information:
Unrecognized compensation cost	$	622	$	795	$	1,249
Period remaining (in years)		4.4		4.7		4.1

(1)

Expected volatility was calculated using a historical volatility of the Company’s stock price since the Company’s initial public offering in August 2019, coupled with those of a peer group of comparable publicly traded companies prior to the Company’s initial public offering, for a period commensurate with the expected term of the SSARs.

(2)	The dividend yield was calculated in accordance with the Company’s dividend policy at the time of grant.

(3)	The expected term was estimated to be the midpoint between the contractual vesting term and time to expiration, in accordance with the simplified method described in SAB Topic 14.D.2. due to the Company’s limited history of SSAR exercise activity.

(4)	The risk-free rate for the expected term of the SSARs was based on the U.S. Treasury yield curve at the date of grant and based on the expected term.

A summary of SSAR activity during 2023 is presented below:


	Stock-Settled Appreciation Rights
				Weighted Average
		Weighted Average		Remaining
	Units	Exercise Price		Contractual Term
Outstanding, January 1, 2023	1,159,240	$	11.64	6.29
Granted	7,000		5.58	9.84
Exercised	(204,074)		7.52
Forfeited	(13,574)		11.47
Expired	(124,998)		25.20
Outstanding, December 31, 2023	823,594	$	10.59	5.67
Exercisable, December 31, 2023	710,456	$	10.07	5.40

Performance-Based Awards

The Company awards performance-based awards — generally performance-based restricted stock units (“PSUs”) — to key officers of the Company. The stock-settled awards are typically granted annually as determined by the Compensation Committee. The PSUs typically cliff-vest at the end of three years based on attainment of certain performance metrics developed by the Compensation Committee. The ultimate number of shares issuable under each PSU award is the product of the award target and the award payout percentage given the level of achievement, ranging from 0% - 150% of the initial target awards. Awards granted in 2021 through 2023 are tied to two performance metrics, a performance-based cumulative earnings per share (“EPS”) target and a market-based cumulative total shareholder return ("TSR") target. The fair value of the EPS target portion of the PSU award was determined based on the closing price of the Company’s common stock on the grant date, while the fair value of the TSR target portion of the PSU award was determined using a Monte Carlo simulation as of the grant date.

A summary of PSU activity during 2023 is presented below:


	Performance-Based Awards
		Weighted Average
	Number of Shares	Grant Date Fair Value
Unvested, January 1, 2023	134,286	$	14.52
Granted	128,005		14.13
Vested	(20,736)		13.55
Forfeited	(8,568)		14.78
Unvested, December 31, 2023	232,987	$	14.38

Total fair value of PSUs vested during the years ended December 31, 2023, 2022 and 2021 was $298 thousand, $26 thousand and $3.4 million, respectively. Unrecognized stock-based compensation expense related to the performance grants issued through December 31, 2023 was $1.7 million and is expected to be recognized over 1.9 years.

Service-Based Restricted Stock Units and Service-Based Restricted Stock Awards

The Company issues service-based restricted stock units (“RSUs”) and service-based restricted stock awards (“RSAs”) to provide additional incentives to key officers, employees, and non-employee directors. Awards are typically granted annually as determined by the Compensation Committee. The RSUs granted to key officers and employees typically vest ratably over three years of continuous service. The service-based RSAs granted to non-employee directors typically cliff-vest after one year of service. The fair value of all RSU and RSA awards was determined based on the closing price of the Company’s common stock on the grant date.

A summary of RSU and RSA activity during 2023 is presented below:


	Restricted Stock Units and Awards
		Weighted Average
	Number of Shares	Grant Date Fair Value
Unvested, January 1, 2023	416,980	$	14.13
Granted	333,979		13.20
Vested	(243,888)		13.78
Forfeited	(50,057)		14.28
Unvested, December 31, 2023	457,014	$	13.62

Total fair value of RSUs and RSAs vested during the years ended December 31, 2023, 2022 and 2021 was $3.0 million, $3.3 million and $3.4 million, respectively. Unrecognized stock-based compensation expense related to restricted stock grants issued through December 31, 2023 was $3.4 million and is expected to be recognized over 1.6 years.

Employee Stock Purchase Plan

The Company has an Employee Stock Purchase Plan (“ESPP”) whereby employees are eligible to purchase common stock at a discounted price after having met a minimum period of credited service and minimum hours worked. The price an employee pays for shares is 85.0% of the lesser of the closing price of the Company’s common stock on the offering date or the closing price of the Company’s common stock on the last trading date of the offering period. The offering periods are the six-month periods commencing on January 1 and July 1 of each year and ending on June 30 and December 31 of each year. There are no vesting or other restrictions on the stock purchased by employees under the ESPP.

The calculated value of each unit award is estimated at the start of the offering period using a Black-Scholes option pricing model that used the assumptions noted in the following table:


	For the Year Ended December 31,
	2023	2022	2021
Assumptions:
Expected volatility	26.10% - 41.72%	24.1% - 28.00%	5.99% - 32.00%
Expected dividends	0.00%	0.00%	0.00%
Expected term (in years)	0.50	0.50	0.50
Risk-free rate	4.75% - 5.53%	0.19% - 2.52%	0.03% - 0.09%

Income Taxes - Income Tax Reconciliation at the Statutory Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Computed at the statutory rate (21%)	$ 17,663	$ 16,290	$ 18,263
Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Increase (decrease) resulting from
Tax-exempt income	$ (3,255)	$ (3,546)	$ (3,672)
Nondeductible expenses	421	689	232
State income taxes, net of federal benefits	2,473	2,785	3,030
Stock-based compensation	84	(190)	(172)
Other adjustments	54	(55)	(125)
Income tax expense	$ 17,440	$ 15,973	$ 17,556

Nature of Operations and Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details)	Dec. 31, 2023
ASU 2023-07
Recent Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2023-09
Recent Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	false
ASU 2022-02
Recent Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true

- Definition

Indicates (true false) whether accounting standards update was adopted.

+ References

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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479654/326-10-65-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-4

+ Details

Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2023

Regulatory Matters

Schedule of actual capital amounts and ratios


					Required to be Considered				Required to be Considered
	Actual				Well Capitalized				Adequately Capitalized⁽¹⁾
	Amount		Ratio		Amount		Ratio		Amount		Ratio

	(Dollars in thousands)
December 31, 2023
Total Capital to Risk-Weighted Assets
Consolidated	$	807,018	11.2	%		N/A	N/A		$	756,285	10.5	%
Bank		800,522	11.1		$	719,705	10.0	%		755,691	10.5
Tier 1 Capital to Risk-Weighted Assets
Consolidated		727,723	10.1			N/A	N/A			612,231	8.5
Bank		721,227	10.0			575,764	8.0			611,750	8.5
Common Equity Tier 1 to Risk-Weighted Assets
Consolidated		718,855	10.0			N/A	N/A			504,190	7.0
Bank		721,227	10.0			467,809	6.5			503,794	7.0
Tier 1 Capital to Average Assets
Consolidated		727,723	10.0			N/A	N/A			292,517	4.0
Bank	$	721,227	9.9	%	$	365,675	5.0	%	$	292,540	4.0	%
December 31, 2022
Total Capital to Risk-Weighted Assets
Consolidated	$	715,416	10.5	%		N/A	N/A		$	714,162	10.5	%
Bank		714,300	10.5		$	679,793	10.0	%		713,783	10.5
Tier 1 Capital to Risk-Weighted Assets
Consolidated		644,953	9.5			N/A	N/A			578,131	8.5
Bank		643,837	9.5			543,835	8.0			577,824	8.5
Common Equity Tier 1 to Risk-Weighted Assets
Consolidated		643,892	9.5			N/A	N/A			476,108	7.0
Bank		643,837	9.5			441,866	6.5			475,855	7.0
Tier 1 Capital to Average Assets
Consolidated		644,953	10.3			N/A	N/A			249,270	4.0
Bank	$	643,837	10.3	%	$	311,623	5.0	%	$	249,299	4.0	%

(1)	Includes capital conservation buffer of 2.5%.

Goodwill and Core Deposit Intangible (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Core Deposit Intangible

Schedule of change in goodwill and core deposit intangible


	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount

	(Dollars in thousands)
December 31, 2023
Goodwill	$	14,135	$	—	$	14,135
Core deposit intangible		21,938		4,738		17,200
Total goodwill and intangible assets	$	36,073	$	4,738	$	31,335
December 31, 2022
Goodwill	$	12,836	$	—	$	12,836
Core deposit intangible		17,479		1,234		16,245
Total goodwill and intangible assets	$	30,315	$	1,234	$	29,081

Schedule of core deposit intangible future amortization expense


(Dollars in thousands)
2024	$	3,569
2025		3,155
2026		2,739
2027		2,325
2028		1,909

Stock-Based Compensation - Stock-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 5,281	$ 4,417	$ 4,584
Stock Appreciation Rights (SARs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	216	325	711
Performance-based stock awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,074	774	741
Restricted stock units and awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	3,824	3,200	3,047
Employee stock purchase plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 167	$ 118	$ 85

Nature of Operations and Summary of Significant Accounting Policies - Property Plant Equipment Useful Lives (Details)	Dec. 31, 2023
Building and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	35 years
Building and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Stock Warrants

12 Months Ended

Dec. 31, 2023

Stock Warrants

Stock Warrants

Note 18: Stock Warrants

The Company had 80,000 outstanding, fully vested warrants to purchase common stock at a strike price of $5.00 per share as of December 31, 2022. During the year ended December 31, 2023, the remaining, fully vested 80,000 warrants were exercised and cash settled resulting in a reduction to additional paid in capital of $0.4 million. There were no outstanding warrants as of December 31, 2023.

Derivatives and Hedging Activities - Schedule of Cash Flow Hedge on Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivatives and Hedging Activities
Gain or (Loss) Recognized in OCI on Derivative	$ (297)	$ (1,183)	$ (424)
Designated as Hedging Instrument \| Interest rate products
Derivatives and Hedging Activities
Gain or (Loss) Recognized in OCI on Derivative	(380)	(1,551)
Gain or (Loss) Recognized in OCI Included Component	(380)	(1,551)
Gain or (Loss) Reclassified from Accumulated OCI into Income	275
Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component	275
Interest Income \| Designated as Hedging Instrument \| Interest rate products
Derivatives and Hedging Activities
Gain or (Loss) Recognized in OCI on Derivative	(589)	(5,403)
Gain or (Loss) Recognized in OCI Included Component	(589)	(5,403)
Interest Expense \| Designated as Hedging Instrument \| Interest rate products
Derivatives and Hedging Activities
Gain or (Loss) Recognized in OCI on Derivative	209	3,852
Gain or (Loss) Recognized in OCI Included Component	209	$ 3,852
Gain or (Loss) Reclassified from Accumulated OCI into Income	275
Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component	$ 275

Parent Company Condensed Financial Statements (Tables)

12 Months Ended

Dec. 31, 2023

Parent Company Condensed Financial Statements

Schedule of Condensed Statements of Financial Condition


	Year Ended December 31,
	2023		2022

	(Dollars in thousands)
Assets
Cash	$	2,445	$	4,457
Equity method investments		3,998		2,597
Investment in subsidiaries		703,532		608,545
Other assets		9,172		8,776
Total assets	$	719,147	$	624,375
Liabilities and stockholders’ equity
Other borrowings	$	—	$	5,000
Trust preferred securities, net		1,118		1,061
Other liabilities		9,886		9,715
Total liabilities		11,004		15,776
Stockholders’ equity		708,143		608,599
Total liabilities and stockholders’ equity	$	719,147	$	624,375

Schedule of Condensed Statements of Operations


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Income
Equity in undistributed earnings of subsidiaries	$	50,761	$	30,267	$	71,528
Distributions from subsidiaries		17,063		32,847		—
Management fees charged to subsidiaries		8,520		8,520		8,520
Other		49		153		2
Total income		76,393		71,787		80,050
Expense
Salaries and employee benefits		4,280		4,272		6,111
Occupancy, net		400		409		403
Other		5,155		5,893		4,718
Total expense		9,835		10,574		11,232
Income tax benefit		(111)		(386)		(595)
Net income	$	66,669	$	61,599	$	69,413

Schedule of Condensed Statements of Cash Flows


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Operating Activities
Net income	$	66,669	$	61,599	$	69,413
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings of consolidated subsidiaries		(50,761)		(30,267)		(71,528)
Stock-based compensation		1,735		1,511		2,332
Other adjustments		293		(256)		(155)
Net cash provided by operating activities		17,936		32,587		62
Investing Activities
Investment in subsidiaries, net		(10,250)		(18,000)		—
Net cash activity from acquisition		(8,960)		—		—
Increase in equity investments		(1,401)		(2,164)		(433)
Purchase of equipment		(519)		—		—
Net cash used in investing activities		(21,130)		(20,164)		(433)
Financing Activities
Net (repayment) proceeds from lines of credit		(5,000)		5,000		—
Proceeds from issuance of preferred shares, net of issuance cost		7,750		—		—
Issuance of common stock, net		3		4		3
Open market common share repurchases		—		(35,780)		(22,286)
Acquisition of common stock for tax withholding obligations		(1,142)		(929)		(860)
Proceeds from employee stock purchase plan		402		364		172
Dividends paid on preferred stock		(413)		—		—
Settlement of warrants		(418)		—		—
Net decrease in employee receivables		—		7		34
Net cash provided by (used in) financing activities		1,182		(31,334)		(22,937)
Decrease in cash		(2,012)		(18,911)		(23,308)
Cash at beginning of year		4,457		23,368		46,676
Cash at end of year	$	2,445	$	4,457	$	23,368

Derivatives and Hedging Activities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item	Sep. 30, 2022 item
Derivatives and Hedging Activities
Collateral paid	$ 1.0	$ 0.0
Collateral received	$ 1.5	$ 4.9
Interest Rate Swap \| Not Designated as Hedging Instrument
Derivatives and Hedging Activities
Number of Instruments \| item	46	49
Notional Amount	$ 307.0	$ 421.0
Interest Rate Swap \| Designated as Hedging Instrument
Derivatives and Hedging Activities
Number of Instruments, Terminated \| item			5
Number of Instruments \| item	5	1
Notional Amount	$ 340.0	$ 250.0
Derivative instruments to be reclassified to interest income in next 12 months	$ 2.5
Maximum exposure period	5 years 4 months 24 days

Commitments and Credit Risk - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) item
Long-Term Purchase Commitment [Line Items]
Subscription agreement parties \| item	5
Subscription agreement, amount \| $	$ 10.0
Office Space Lease, Dallas, Texas
Long-Term Purchase Commitment [Line Items]
Lease term	10 years 9 months 18 days

Stock-Based Compensation - ESPP Assumptions (Details) - Employee stock purchase plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assumptions:
Expected volatility, minimum	26.10%	24.10%	5.99%
Expected volatility, maximum	41.72%	28.00%	32.00%
Expected dividends	0.00%	0.00%	0.00%
Expected term (in years)	6 months	6 months	6 months
Risk-free rate, minimum	4.75%	0.19%	0.03%
Risk-free rate, maximum	5.53%	2.52%	0.09%

Commitments and Credit Risk

12 Months Ended

Dec. 31, 2023

Commitments and Credit Risk

Commitments and Credit Risk

Note 21: Commitments and Credit Risk

The Company had the following commitments at December 31, 2023 and 2022:


	December 31, 2023		December 31, 2022

	(Dollars in thousands)
Commitments to originate loans	$	59,728	$	134,961
Standby letters of credit		74,139		66,889
Lines of credit		2,008,356		2,705,730
Future lease commitments		—		1,888
Commitment related to investment fund		4,206		3,403
Total	$	2,146,429	$	2,912,871

Commitments to Originate Loans - Commitments to originate loans are agreements to lend to a client as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each client’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential and multifamily real estate.

Standby Letters of Credit - Standby letters of credit are irrevocable conditional commitments issued by the Company to guarantee the performance of a client to a third-party. Financial standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. Performance standby letters of credit are issued to guarantee performance of certain clients under nonfinancial contractual obligations. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to clients. Fees for letters of credit are initially recorded by the Company as deferred revenue and are included in earnings at the termination of the respective agreements. Should the Company be obligated to perform under the standby letters of credit, the Company may seek recourse from the client for reimbursement of amounts paid.

Lines of Credit - Lines of credit are agreements to lend to a client as long as there is no violation of any condition established in the contract. Lines of credit generally have fixed expiration dates. Since a portion of the line may expire without being drawn upon, the total unused lines do not necessarily represent future cash requirements. Each client’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance sheet instruments.

Lease Commitments – During 2022, the Company entered into a lease agreement with a third party for office space located in Fort Worth, Texas, which commenced in 2023 and carried an initial lease term of 10.8 years with one seven-year renewal option.

Commitments related to Investment Fund - The Company entered into various subscription agreements with five separate third parties to invest up to $10.0 million in the aggregate in investment funds designed to create pathways to homeownership for low- and moderate-income individuals and families and to help accelerate technology adoption at community banks.

Loans and Allowance for Credit Losses - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Carrying value of loans	$ 25,000	$ 24,000
Accrued Interest	$ 30,000	$ 23,000
Financial Asset, Amortized Cost, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable	Interest Receivable
Interest income recognized on nonaccrual loans	$ 0	$ 1,500
Drivers of Quarterly Change in the ACL
ACL increase (decrease)	11,700
Net charge offs	5,400
PCD allowance for credit loss at acquisition	300
Day 1 CECL provision expense	900
Decrease in reserve on unfunded commitments	$ 2,300
Loans were restructured TDR guidance \| loan	8
Outstanding Balance	$ 10,200	30,500
Allowance for credit losses on off-balance sheet exposures	6,413	$ 8,688	$ 5,184
Credit Quality Metrics Including Improved Risk Ratings [Member]
Drivers of Quarterly Change in the ACL
ACL increase (decrease)	$ 15,900

Borrowing Arrangements - Scheduled Maturities for Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2005
Borrowing Arrangements
Within One Year	$ 1,654,453
One to Two Years	176,811
Two to Three Years	1,633
Three to Four Years	41,333
Four to Five Years	26,962
After Five Years	16,739
Borrowings	1,917,931
Contract value	2,600
Time Deposits
Borrowing Arrangements
Within One Year	1,654,453
One to Two Years	171,711
Two to Three Years	1,633
Three to Four Years	2,333
Four to Five Years	962
Borrowings	1,831,092
FHLB Borrowings
Borrowing Arrangements
One to Two Years	5,100
Three to Four Years	39,000
Four to Five Years	26,000
After Five Years	7,789
Borrowings	77,889
SBA Secured Borrowing
Borrowing Arrangements
After Five Years	7,832
Borrowings	7,832
Trust preferred security
Borrowing Arrangements
After Five Years	1,118
Borrowings	$ 1,118	$ 4,000

Borrowing Arrangements - Borrowings (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 30, 2010	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2012	Sep. 30, 2005
Borrowing Arrangements
Balance		$ 86,839	$ 253,568
Securities sold under agreements to repurchase, average daily balance		300
Borrowings		1,917,931
Asset Pledged as Collateral \| Repurchase agreements
Borrowing Arrangements
Debt Securities		0	0
FHLB Borrowings
Borrowing Arrangements
Balance		$ 77,889	$ 143,143
Rate		2.06%	2.27%
Maximum balance at any end of month		$ 137,127	$ 236,600
Borrowings		77,889
FHLB line of credit
Borrowing Arrangements
Balance			$ 74,968
Rate			4.48%
Maximum balance at any end of month		316,222	$ 140,000
SBA Secured Borrowing
Borrowing Arrangements
Balance		7,832	9,396
Maximum balance at any end of month		9,396	10,897
Borrowings		7,832
Trust preferred security
Borrowing Arrangements
Balance		$ 1,118	$ 1,061
Rate		7.39%	6.51%
Maximum balance at any end of month		$ 1,118	$ 1,061
Fair value of assumed liability	$ 1,000
Borrowings		1,118			$ 4,000
Decrease in principal balance				$ 1,500
Decrease in recorded balance				400
Difference between recorded amount and contract value				$ 2,600
Repurchase agreements
Borrowing Arrangements
Maximum balance at any end of month		1,557	5,695
Federal funds purchased
Borrowing Arrangements
Balance			$ 20,000
Rate			4.65%
Maximum balance at any end of month		20,000	$ 20,000
Line of credit
Borrowing Arrangements
Balance			$ 5,000
Rate			7.50%
Maximum balance at any end of month		$ 7,500	$ 5,000
Minimum \| FHLB Borrowings
Borrowing Arrangements
FHLB advances, fixed rate		0.95%
Maximum
Borrowing Arrangements
Securities sold under agreements to repurchase, average daily balance			$ 1
Maximum \| FHLB Borrowings
Borrowing Arrangements
FHLB advances, fixed rate		2.84%
SOFR \| Trust preferred security
Borrowing Arrangements
Basis spread on variable rate				1.74%

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Net unrealized loss on securities available-for-sale	$ 15,456	$ 20,295
Allowance for credit losses	18,470	16,710
Lease incentive	7,930	8,056
Loan fees	3,701	4,048
Accrued expenses	3,397	3,379
Deferred compensation	2,334	2,166
Other	2,818	1,094
Total deferred tax asset	54,106	55,748
Deferred tax liability
FHLB stock basis	(107)	(436)
Right-of-use asset	(7,023)	(7,230)
Premises and equipment	(2,565)	(2,042)
Other	(950)	(1,018)
Total deferred tax liability	(10,645)	(10,726)
Net deferred tax asset	$ 43,461	$ 45,022

Securities (Tables)

12 Months Ended

Dec. 31, 2023

Securities

Schedule of Available-for-sale Securities


	December 31, 2023
			Gross		Gross
			Unrealized		Unrealized		Approximate
	Amortized Cost		Gains		Losses		Fair Value

	(Dollars in thousands)
Federal agency obligations	$	9,988	$	84	$	—	$	10,072
U.S. Treasury securities		4,965		3		—		4,968
Mortgage-backed - GSE residential		233,203		629		21,370		212,462
Collateralized mortgage obligations - GSE residential		50,125		493		674		49,944
State and political subdivisions		396,349		497		40,949		355,897
Small Business Administration loan pools		125,017		722		961		124,778
Corporate bonds		9,740		—		1,208		8,532
Total available-for-sale securities	$	829,387	$	2,428	$	65,162	$	766,653


	December 31, 2022
			Gross		Gross
			Unrealized		Unrealized		Approximate
	Amortized Cost		Gains		Losses		Fair Value

	(Dollars in thousands)
Mortgage-backed - GSE residential	$	197,243	$	232	$	25,166	$	172,309
Collateralized mortgage obligations - GSE residential		11,629		—		743		10,886
State and political subdivisions		551,007		929		57,440		494,496
Corporate bonds		9,762		—		552		9,210
Total available-for-sale securities	$	769,641	$	1,161	$	83,901	$	686,901

Schedule of Gross Realized Gains and Losses from Sales or Maturities of AFS Securities


	For the Year Ended December 31, 2023

	Gross Realized Gains		Gross Realized Losses		Net Realized Loss

	(Dollars in thousands)
Available-for-sale securities	$	462	$	1,589	$	(1,127)


	For the Year Ended December 31, 2022

	Gross Realized Gains		Gross Realized Losses		Net Realized Gain

	(Dollars in thousands)
Available-for-sale securities	$	146	$	50	$	96

Schedule of Available-for-sale Securities Continuous Unrealized Loss Position


	December 31, 2023
	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized		Number of	Fair		Unrealized		Number of	Fair		Unrealized		Number of
	Value		Losses		Securities	Value		Losses		Securities	Value		Losses		Securities

	(Dollars in thousands)
Available-for-Sale Securities
Federal agency obligations	$	—	$	—	—	$	—	$	—	—	$	—	$	—	—
U.S. Treasury securities		—		—	—		—		—	—		—		—	—
Mortgage-backed - GSE residential		21,523		56	5		137,626		21,314	52		159,149		21,370	57
Collateralized mortgage obligations - GSE residential		17,707		135	4		8,469		539	17		26,176		674	21
State and political subdivisions		33,577		207	20		287,128		40,742	190		320,705		40,949	210
Small Business Administration loan pools		76,380		959	11		91		2	4		76,471		961	15
Corporate bonds		—		—	—		8,532		1,208	5		8,532		1,208	5
Total temporarily impaired AFS securities	$	149,187	$	1,357	40	$	441,846	$	63,805	268	$	591,033	$	65,162	308


	December 31, 2022
	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized		Number of	Fair		Unrealized		Number of	Fair		Unrealized		Number of
	Value		Losses		Securities	Value		Losses		Securities	Value		Losses		Securities

	(Dollars in thousands)
Available-for-Sale Securities
Mortgage-backed - GSE residential	$	91,929	$	10,410	41	$	66,036	$	14,756	16	$	157,965	$	25,166	57
Collateralized mortgage obligations - GSE residential		10,636		733	18		251		10	1		10,887		743	19
State and political subdivisions		350,884		36,697	266		52,519		20,743	40		403,403		57,440	306
Corporate bonds		9,210		552	5		—		—	—		9,210		552	5
Total temporarily impaired AFS securities	$	462,659	$	48,392	330	$	118,806	$	35,509	57	$	581,465	$	83,901	387

Summary of Available-for-sale Securities by Contractual Maturity


	December 31, 2023
	Within			After One to			After Five to			After
	One Year			Five Years			Ten Years			Ten Years			Total

	(Dollars in thousands)
Available-for-sale securities
Federal agency obligations⁽¹⁾
Amortized cost	$	—		$	—		$	—		$	9,988		$	9,988
Estimated fair value	$	—		$	—		$	—		$	10,072		$	10,072
Weighted average yield⁽²⁾		—	%		—	%		—	%		6.41	%		6.41	%
U.S. Treasury securities
Amortized cost	$	4,965		$	—		$	—		$	—		$	4,965
Estimated fair value	$	4,968		$	—		$	—		$	—		$	4,968
Weighted average yield⁽²⁾		5.56	%		—	%		—	%		—	%		5.56	%
Mortgage-backed - GSE residential⁽¹⁾
Amortized cost	$	—		$	—		$	889		$	232,314		$	233,203
Estimated fair value	$	—		$	—		$	821		$	211,641		$	212,462
Weighted average yield⁽²⁾		—	%		—	%		2.24	%		3.16	%		3.15	%
Collateralized mortgage obligations - GSE residential⁽¹⁾
Amortized cost	$	—		$	2,237		$	—		$	47,888		$	50,125
Estimated fair value	$	—		$	2,153		$	—		$	47,791		$	49,944
Weighted average yield⁽²⁾		—	%		2.78	%		—	%		5.23	%		5.12	%
State and political subdivisions⁽¹⁾
Amortized cost	$	520		$	3,727		$	55,956		$	336,146		$	396,349
Estimated fair value	$	529		$	3,726		$	55,446		$	296,196		$	355,897
Weighted average yield⁽²⁾		4.22	%		4.31	%		2.85	%		2.54	%		2.61	%
Small Business Administration loan pools⁽¹⁾
Amortized cost	$	—		$	9		$	84		$	124,924		$	125,017
Estimated fair value	$	—		$	10		$	81		$	124,687		$	124,778
Weighted average yield⁽²⁾		—	%		4.90	%		4.10	%		4.87	%		4.87	%
Corporate bonds⁽¹⁾
Amortized cost	$	—		$	143		$	9,597		$	—		$	9,740
Estimated fair value	$	—		$	140		$	8,392		$	—		$	8,532
Weighted average yield⁽²⁾		—	%		4.15	%		5.70	%		—	%		5.68	%
Total available-for-sale securities
Amortized cost	$	5,485		$	6,116		$	66,526		$	751,260		$	829,387
Estimated fair value	$	5,497		$	6,029		$	64,740		$	690,387		$	766,653
Weighted average yield⁽²⁾		5.43	%		3.75	%		3.25	%		3.34	%		3.35	%

⁽¹⁾	Actual maturities may differ from contractual maturities because issuers may have the rights to call or prepay obligations with or without prepayment penalties.

⁽²⁾	Yields are calculated based on amortized cost using a 30/360 day basis. Tax-exempt securities are not tax effected.


	December 31, 2022

	Within			After One to			After Five to			After
	One Year			Five Years			Ten Years			Ten Years			Total

	(Dollars in thousands)
Available-for-sale securities
Mortgage-backed - GSE residential⁽¹⁾
Amortized cost	$	—		$	18		$	105		$	197,120		$	197,243
Estimated fair value	$	—		$	17		$	101		$	172,191		$	172,309
Weighted average yield⁽²⁾		—	%		4.77	%		4.05	%		2.39	%		2.39	%
Collateralized mortgage obligations - GSE residential⁽¹⁾
Amortized cost	$	—		$	—		$	2,344		$	9,285		$	11,629
Estimated fair value	$	—		$	—		$	2,229		$	8,657		$	10,886
Weighted average yield⁽²⁾		—	%		—	%		2.77	%		2.25	%		2.36	%
State and political subdivisions⁽¹⁾
Amortized cost	$	1,076		$	6,310		$	109,771		$	433,850		$	551,007
Estimated fair value	$	1,077		$	6,471		$	109,134		$	377,814		$	494,496
Weighted average yield⁽²⁾		3.54	%		4.60	%		3.08	%		2.70	%		2.80	%
Corporate bonds⁽¹⁾
Amortized cost	$	—		$	150		$	9,612		$	—		$	9,762
Estimated fair value	$	—		$	146		$	9,064		$	—		$	9,210
Weighted average yield⁽²⁾		—	%		5.43	%		5.70	%		—	%		5.70	%
Total available-for-sale securities
Amortized cost	$	1,076		$	6,478		$	121,832		$	640,255		$	769,641
Estimated fair value	$	1,077		$	6,634		$	120,528		$	558,662		$	686,901
Weighted average yield⁽²⁾		3.54	%		4.62	%		3.28	%		2.60	%		2.74	%

⁽¹⁾	Actual maturities may differ from contractual maturities because issuers may have the rights to call or prepay obligations with or without prepayment penalties.

⁽²⁾	Yields are calculated based on amortized cost using a 30/360 day basis. Tax-exempt securities are not tax effected.

Summary of Equity Securities


	For the Year Ended December 31,

	2023		2022		2021

	(Dollars in thousands)
Net gains (losses) recognized during the reporting period on equity securities	$	132	$	(181)	$	(6,325)
Less: net gains (losses) recognized during the period on equity securities sold during the period		93		(181)		(6,245)
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$	39	$	—	$	(80)

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity

Stockholders' Equity

Note 19: Stockholders’ Equity

The following table presents the computation of basic and diluted earnings per share:


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands, except per share data)
Earnings per Common Share
Net Income	$	66,669	$	61,599	$	69,413
Less: preferred stock dividends		413		—		—
Net income available to commons stockholders		66,256		61,599		69,413
Weighted average common shares		49,010,078		49,489,860		51,291,428
Earnings per common share	$	1.35	$	1.24	$	1.35
Diluted Earnings per Common Share
Net Income	$	66,669	$	61,599	$	69,413
Less: preferred stock dividends		413		—		—
Net income available to commons stockholders		66,256		61,599		69,413
Weighted average common shares		49,010,078		49,489,860		51,291,428
Effect of dilutive shares		329,988		512,194		739,154
Weighted average dilutive common shares		49,340,066		50,002,054		52,030,582
Diluted earnings per common share	$	1.34	$	1.23	$	1.33
Stock-based awards not included because to do so would be antidilutive		799,238		523,768		658,100

Preferred stock and dividends

During March 2023, the Company offered and sold 7,750 shares of its Series A Preferred Stock, for an aggregate purchase price of $7.8 million.

Aggregate dividends of $413 thousand related to the Series A Preferred Stock were declared and paid during the year ended December 31, 2023. In February 2024, the Board of Directors declared a quarterly dividend on Series A Preferred Stock in the amount of $20.00 per share to be payable on March 15, 2024 to shareholders of record as of February 29, 2024.

Share repurchases

On May 10, 2022, the Company announced that its Board of Directors approved a share repurchase program under which the Company may repurchase up to $30 million of its common stock. As of December 31, 2023, $16 million remains available for repurchase under this share repurchase program. The Company did not purchase any common stock during 2023.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Regulatory Matters

12 Months Ended

Dec. 31, 2023

Regulatory Matters

Regulatory Matters

Note 14: Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. The Basel III Capital Rules (“Basel III”) were jointly published by three federal banking regulatory agencies. Basel III defines the components of capital, risk weighting and other issues affecting the numerator and denominator in regulatory capital ratios.

Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. The actions may include dividend payment restrictions, require the adoption of remedial measures to increase capital, terminate FDIC deposit insurance, and mandate the appointment of a conservator or receiver in severe cases. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under GAAP, regulatory reporting requirements and regulatory capital standards. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in these consolidated financial statements.

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and tier 1 capital (as defined) to risk-weighted assets (as defined), common equity tier 1 capital (as defined) to risk-weighted assets (as defined), and of tier 1 capital (as defined) to average assets (as defined). Management believes, as of December 31, 2023, the Company and the Bank met all applicable capital adequacy requirements.

As of December 31, 2023, the most recent notification from the applicable regulatory agencies categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, tier 1 risk-based, common equity tier 1 risk-based and tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the

Bank’s category. The Company’s and the Bank’s actual capital amounts and ratios as of December 31, 2023 and 2022 are presented in the following table:


					Required to be Considered				Required to be Considered
	Actual				Well Capitalized				Adequately Capitalized⁽¹⁾
	Amount		Ratio		Amount		Ratio		Amount		Ratio

	(Dollars in thousands)
December 31, 2023
Total Capital to Risk-Weighted Assets
Consolidated	$	807,018	11.2	%		N/A	N/A		$	756,285	10.5	%
Bank		800,522	11.1		$	719,705	10.0	%		755,691	10.5
Tier 1 Capital to Risk-Weighted Assets
Consolidated		727,723	10.1			N/A	N/A			612,231	8.5
Bank		721,227	10.0			575,764	8.0			611,750	8.5
Common Equity Tier 1 to Risk-Weighted Assets
Consolidated		718,855	10.0			N/A	N/A			504,190	7.0
Bank		721,227	10.0			467,809	6.5			503,794	7.0
Tier 1 Capital to Average Assets
Consolidated		727,723	10.0			N/A	N/A			292,517	4.0
Bank	$	721,227	9.9	%	$	365,675	5.0	%	$	292,540	4.0	%
December 31, 2022
Total Capital to Risk-Weighted Assets
Consolidated	$	715,416	10.5	%		N/A	N/A		$	714,162	10.5	%
Bank		714,300	10.5		$	679,793	10.0	%		713,783	10.5
Tier 1 Capital to Risk-Weighted Assets
Consolidated		644,953	9.5			N/A	N/A			578,131	8.5
Bank		643,837	9.5			543,835	8.0			577,824	8.5
Common Equity Tier 1 to Risk-Weighted Assets
Consolidated		643,892	9.5			N/A	N/A			476,108	7.0
Bank		643,837	9.5			441,866	6.5			475,855	7.0
Tier 1 Capital to Average Assets
Consolidated		644,953	10.3			N/A	N/A			249,270	4.0
Bank	$	643,837	10.3	%	$	311,623	5.0	%	$	249,299	4.0	%

(1)	Includes capital conservation buffer of 2.5%.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Stock-Based Compensation - SSARs Activity (Details) - Stock Appreciation Rights (SARs) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Units
Beginning balance (in shares)	1,159,240
Granted (in shares)	7,000
Exercised (in shares)	(204,074)
Forfeited (in shares)	(13,574)
Expired (in shares)	(124,998)
Ending balance (in shares)	823,594	1,159,240
Exercisable (in shares)	710,456
Weighted Average Exercise Price
Beginning balance, weighted average exercise price (in dollars per share)	$ 11.64
Granted, weighted average exercise price (in dollars per share)	5.58
Exercised, weighted average exercise price (in dollars per share)	7.52
Forfeited, weighted average exercise price (in dollars per share)	11.47
Expired, weighted average exercise price (in dollars per share)	25.20
Ending balance, weighted average exercise price (in dollars per share)	10.59	$ 11.64
Exercisable, weighted average exercise price (in dollars per share)	$ 10.07
Weighted average remaining contractual term	5 years 8 months 1 day	6 years 3 months 14 days
Weighted average remaining contractual term, granted	9 years 10 months 2 days
Weighted average remaining contractual term, exercisable	5 years 4 months 24 days

Foreclosed Assets (Details) $ in Thousands	12 Months Ended
Foreclosed Assets (Details) $ in Thousands	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Foreclosed Assets
Beginning balance	$ 1,130	$ 1,148	$ 2,347
Foreclosed asset acquired		157
Direct write-downs			(629)
Sales or other proceeds from foreclosed assets	(1,050)	(175)	(628)
Loss (gain) on sale of foreclosed assets	$ (80)		58
Ending balance		$ 1,130	$ 1,148
Number of facilities, foreclosed assets \| item	2

Employee Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Company contributions to the plan, percentage	100.00%	100.00%
Percent of employees' gross pay	5.00%	5.00%
Company contributions	$ 2	$ 2	$ 1
First 1% of Employees Salary Deferral Amounts
Defined Benefit Plan Disclosure [Line Items]
Company contributions to the plan, percentage			100.00%
Percent of employees' gross pay			1.00%
Salary Deferral Amounts Over 1%
Defined Benefit Plan Disclosure [Line Items]
Company contributions to the plan, percentage			50.00%
Percent of employees' gross pay			1.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Percent of employees' gross pay			6.00%

Interest-bearing Time Deposits (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Interest-bearing Time Deposits
Interest-bearing time deposits in denominations of $250,000 or more	$ 487	$ 319
Brokered deposits	876	382
CDARS	$ 42	$ 4

Revenue from Contracts with Clients

12 Months Ended

Dec. 31, 2023

Revenue from Contracts with Clients

Revenue from Contracts with Clients

Note 16: Revenue from Contracts with Clients

Except for gains or losses from the sale of foreclosed assets, the Company’s revenue from contracts with clients within the scope of ASC 606 is recognized in non-interest income. The revenue categories are selected based on the nature, amount,

timing, and uncertainty of revenue and cash flows. The following presents descriptions of revenue categories within the scope of ASC 606:

Service charges and fees on client accounts - This category consists of monthly fees for the services rendered on client deposit accounts, including maintenance charges, overdraft fees, and processing fees. The monthly fee structures are typically based on type of account, volume, and activity. The client is typically billed monthly and pays the bill from their deposit account. The Company satisfies the performance obligation related to providing depository accounts monthly as transactions are processed and deposit service charge revenue is recorded.

ATM and credit card interchange income - This category consists of fees charged for use of the Company’s ATMs, as well as an interchange fee with credit card and debit card service providers. ATM fees and interchange fees are based on the number of transactions as well as the underlying agreements. Clients are typically billed monthly. The Company satisfies the performance obligation related to ATM and interchange fees monthly as transactions are processed and revenue is recorded.

International fees - This category consists of fees earned from foreign exchange transactions and preparation of international documentation. International fees are based on underlying agreements that describe the Company’s performance obligation and the related fee. Clients are typically billed and cash is received once the service or transaction is complete. The Company satisfies the performance obligation related to international fees monthly as transactions are processed and revenue is recorded.

Other fees - This category consists of numerous, smaller fees such as wire transfer fees, check cashing fees, and check printing fees. Other fees are typically billed to clients on a monthly basis. Performance obligations for other fees are satisfied at the time that the service is rendered.

Gain or loss on foreclosed assets – Foreclosed assets are often sold in transactions that may not be considered a contract with a client because the sale of the asset may not be an output of the Company’s ordinary activities. However, sales of nonfinancial assets, including in-substance nonfinancial assets, should be accounted for in accordance with ASC 610-20, “Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets,” which requires the Company to apply certain measurement and recognition concepts of ASC 606. Accordingly, the Company recognizes the sale of a foreclosed asset, along with any associated gain or loss, when control of the asset transfers to the buyer. For sales of existing assets, this generally will occur at the point of sale. When the Company finances the sale of the foreclosed asset to the buyer, the Company must assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the repossessed asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the asset to the buyer.

The following table disaggregates the non-interest income subject to ASC 606 by category:


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Non-interest income subject to ASC 606
Service charges and fees on client accounts	$	8,186	$	6,228	$	4,580
ATM and credit card interchange income		5,469		6,523		7,996
International fees		1,504		1,408		1,531
Other fees		323		94		134
Total non-interest income from contracts with clients		15,482		14,253		14,241
Non-interest income not subject to ASC 606
Other non-interest income		5,182		3,028		(581)
Total non-interest income	$	20,664	$	17,281	$	13,660

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Cumulative Effect, Period of Adoption, Adjustment	Total
Beginning balance at Dec. 31, 2020		$ 523		$ 522,911		$ 77,652	$ 29,403		$ 624,428
Beginning balance (in shares) at Dec. 31, 2020	0	51,679,516
Beginning balance (Treasury Stock) at Dec. 31, 2020			$ (6,061)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						69,413			69,413
Other comprehensive loss - available-for-sale securities							(7,490)		(7,490)
Other comprehensive loss - cash flow hedges							(424)		(424)
Issuance of shares from equity-based awards		$ 3		(689)					(686)
Issuance of shares from equity-based awards (in shares)		300,886
Open market common share repurchases			(22,286)						(22,286)
Open market common share repurchases (in shares)		(1,530,357)
Employee receivables from sale of stock						34			34
Stock-based compensation				4,584					4,584
Ending balance (ASU 2016-13) at Dec. 31, 2021					$ (2,610)			$ (2,610)
Ending balance at Dec. 31, 2021		$ 526		526,806		147,099	21,489		667,573
Ending balance (in shares) at Dec. 31, 2021		50,450,045
Ending balance (Treasury Stock) at Dec. 31, 2021			(28,347)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						61,599			61,599
Other comprehensive loss - available-for-sale securities							(84,863)		(84,863)
Other comprehensive loss - cash flow hedges							(1,183)		(1,183)
Issuance of shares from equity-based awards		$ 4		(565)					(561)
Issuance of shares from equity-based awards (in shares)		446,598
Open market common share repurchases			(35,780)						(35,780)
Open market common share repurchases (in shares)		(2,448,428)
Employee receivables from sale of stock						7			7
Stock-based compensation				4,417					4,417
Ending balance at Dec. 31, 2022		$ 530		530,658		206,095	(64,557)		$ 608,599
Ending balance (in shares) at Dec. 31, 2022		48,448,215							53,036,613
Ending balance (Treasury Stock) at Dec. 31, 2022			(64,127)						$ (64,127)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						66,669			66,669
Other comprehensive loss - available-for-sale securities							15,018		15,018
Other comprehensive loss - cash flow hedges							(507)		(507)
Preferred dividends						(413)			(413)
Issuance of preferred shares				7,750					7,750
Issuance of preferred shares (in shares)	7,750
Issuance of shares from equity-based awards		$ 3		(740)					(737)
Issuance of shares from equity-based awards (in shares)		290,028
Warrants exercised, cash settled				(418)					(418)
Acquisition - purchase accounting			5,932	1,025					6,957
Acquisition - purchase accounting (in shares)		597,645
Stock-based compensation				5,281					5,281
Excise tax on share repurchases			(56)						(56)
Ending balance at Dec. 31, 2023		$ 533		$ 543,556		$ 272,351	$ (50,046)		$ 708,143
Ending balance (in shares) at Dec. 31, 2023	7,750	49,335,888							53,326,641
Ending balance (Treasury Stock) at Dec. 31, 2023			$ (58,251)						$ (58,251)

Loans and Allowance for Credit Losses - Charge-offs By Year of Origination (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Gross charge-offs by year of origination
2023	$ 581
2022	8
2021	72
2018 and Prior	1,363
Revolving loans	3,165
Revolving loans converted to term loans	520
Gross Charge-offs	5,709	$ 10,744
Commercial and industrial
Gross charge-offs by year of origination
2023	581
2022	7
2021	72
2018 and Prior	1,358
Revolving loans	3,165
Revolving loans converted to term loans	520
Gross Charge-offs	5,703	4,762
Energy
Gross charge-offs by year of origination
Gross Charge-offs		4,651
Commercial real estate - non-owner-occupied
Gross charge-offs by year of origination
Gross Charge-offs		1,102
Residential real estate
Gross charge-offs by year of origination
Gross Charge-offs		216
Consumer
Gross charge-offs by year of origination
2022	1
2018 and Prior	5
Gross Charge-offs	$ 6	$ 13

Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Stockholders' equity
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	5,000,000	5,000,000
Preferred stock issued (in shares)	7,750	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	200,000,000	200,000,000
Common stock issued (in shares)	53,326,641	53,036,613
Treasure stock held (in shares)	3,990,753	4,588,398

Borrowing Arrangements

12 Months Ended

Dec. 31, 2023

Borrowing Arrangements

Borrowing Arrangements

Note 11: Borrowing Arrangements

The following table summarizes borrowings at December 31, 2023 and 2022:


	As of and For the Year Ended December 31,
	2023						2022

	(Dollars in thousands)
					Maximum Balance						Maximum Balance
					at Any						at Any
	Balance		Rate⁽⁷⁾		End of Month		Balance		Rate⁽⁷⁾		End of Month
Repurchase agreements⁽¹⁾	$	—	—	%	$	1,557	$	—	—	%	$	5,695
Federal funds purchased⁽²⁾		—	—			20,000		20,000	4.65			20,000
FHLB advances⁽³⁾		77,889	2.06			137,127		143,143	2.27			236,600
FHLB line of credit⁽³⁾		—	—			316,222		74,968	4.48			140,000
Line of credit⁽⁴⁾		—	—			7,500		5,000	7.50			5,000
SBA secured borrowing⁽⁵⁾		7,832	NA			9,396		9,396	NA			10,897
Trust preferred security⁽⁶⁾		1,118	7.39	%	$	1,118		1,061	6.51	%	$	1,061
Total borrowings	$	86,839					$	253,568

(1)

(2)	Federal funds purchased include short-term funds that are borrowed from another bank. The Bank is part of a third-party service that allows us to borrow amounts from another bank if the bank has approved us for credit. Federal funds purchased generally have one day maturities.

(3)	FHLB advances and line of credit are collateralized by a blanket floating lien on certain loans as well as unrestricted securities. FHLB advances are at a fixed rate, ranging from 0.95% to 2.84%, and are subject to restrictions or penalties in the event of prepayment.

(4)	The line of credit is a general bank line of credit maintained by the Company for short-term liquidity.

(5)

(6)

(7)	Represents the year-end weighted average interest rate.

The following table summarizes the Company’s other borrowing capacities at December 31, 2023 and 2022:


	As of December 31,
	2023		2022

	(Dollars in thousands)
FHLB borrowing capacity relating to loans	$	560,999	$	391,910
FHLB borrowing capacity relating to securities		—		—
Total FHLB borrowing capacity	$	560,999	$	391,910
Unused Federal Reserve borrowing capacity	$	780,588	$	503,899

The scheduled maturities, excluding interest, of the Company’s borrowings at December 31, 2023 were as follows:


	As of December 31, 2023
	Within One		One to Two		Two to Three		Three to		Four to Five		After Five
	Year		Years		Years		Four Years		Years		Years		Total

	(Dollars in thousands)
Time deposits	$	1,654,453	$	171,711	$	1,633	$	2,333	$	962	$	—	$	1,831,092
Fed funds purchased & repurchase agreements		—		—		—		—		—		—		—
FHLB borrowings		—		5,100		—		39,000		26,000		7,789		77,889
FHLB line of credit		—		—		—		—		—		—		—
Line of credit		—		—		—		—		—		—		—
SBA secured borrowing		—		—		—		—		—		7,832		7,832
Trust preferred securities⁽¹⁾		—		—		—		—		—		1,118		1,118
Total	$	1,654,453	$	176,811	$	1,633	$	41,333	$	26,962	$	16,739	$	1,917,931

(1)	The contract value of the trust preferred securities is $2.6 million and is currently being accreted to the maturity date of 2035.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Disclosure about Fair Value of Financial Instruments - Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Assets
Available-for-sale securities	$ 766,653	$ 686,901
Restricted equity securities	3,950	12,536
Financial Liabilities
Federal Home Loan Bank advances	77,889	218,111
Carrying Amount
Financial Assets
Cash and cash equivalents	255,229	300,138
Available-for-sale securities	766,653	769,641
Loans, net of ACL	6,054,228	5,310,954
Restricted equity securities	3,950	12,536
Interest receivable	37,294	29,507
Equity securities	5,794	2,870
Derivative assets	7,581	11,038
Financial Liabilities
Deposits	6,491,276	5,651,308
Federal funds purchased and repurchase agreements	77,889	74,968
Federal Home Loan Bank advances	8,950	143,143
Other borrowings	18,529	35,547
Interest payable	13,594	5,713
Derivative liabilities		16,442
Level 1 \| Estimate of Fair Value Measurement
Financial Assets
Cash and cash equivalents	255,229	300,138
Financial Liabilities
Deposits	990,458	1,400,260
Level 2 \| Estimate of Fair Value Measurement
Financial Assets
Available-for-sale securities	766,653	686,901
Interest receivable	37,294	29,507
Derivative assets	7,581	11,038
Financial Liabilities
Federal funds purchased and repurchase agreements	72,123	74,968
Federal Home Loan Bank advances	9,891	135,086
Other borrowings	18,529	36,529
Interest payable	13,594	5,713
Derivative liabilities		16,442
Level 3 \| Estimate of Fair Value Measurement
Financial Assets
Loans, net of ACL	6,036,887	5,307,607
Restricted equity securities	3,950	12,536
Equity securities	5,794	2,870
Financial Liabilities
Deposits	$ 5,547,203	$ 4,142,673

Changes in Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in Accumulated Other Comprehensive Income (Loss)
Realized (loss) gain on available-for-sale securities	$ (1,127)	$ 96	$ 1,023
Less: tax (benefit) expense effect	(266)	24	245
Realized (loss) gain on available-for-sale securities, net of income tax	(861)	72	778
Gain on cash flow hedges	275
Less: tax expense effect	65
Gain on cash flow hedges, net of tax	210
Total reclassified amount	$ (651)	$ 72	$ 778

Stockholders' Equity - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per Share
Net Income (Loss)	$ 66,669	$ 61,599	$ 69,413
Less: preferred stock dividends	413
Net income available to common stockholders	$ 66,256	$ 61,599	$ 69,413
Weighted average common shares (in shares)	49,010,078	49,489,860	51,291,428
Earnings per share (in dollars per share)	$ 1.35	$ 1.24	$ 1.35
Dilutive Earnings Per Share
Net Income (Loss)	$ 66,669	$ 61,599	$ 69,413
Less: preferred stock dividends	413
Net income available to common stockholders	$ 66,256	$ 61,599	$ 69,413
Weighted average common shares (in shares)	49,010,078	49,489,860	51,291,428
Effect of dilutive shares (in shares)	329,988	512,194	739,154
Weighted average dilutive common shares (in shares)	49,340,066	50,002,054	52,030,582
Diluted earnings per share (in dollars per share)	$ 1.34	$ 1.23	$ 1.33
Stock-based awards not included because to do so would be antidilutive (in shares)	799,238	523,768	658,100

Goodwill and Core Deposit Intangible

12 Months Ended

Dec. 31, 2023

Goodwill and Core Deposit Intangible

Goodwill and Core Deposit Intangible

Note 7: Goodwill and Core Deposit Intangible

In connection with the Tucson acquisition and the Colorado/New Mexico acquisition, the Company recorded goodwill of $1.3 million and $12.8 million in 2023 and 2022, respectively. No goodwill impairment was recorded during the years ended December 31, 2023 or December 31, 2022.

The Company recorded a core deposit intangible (“CDI”) of $4.5 million and $16.5 million as part of the Tucson and Colorado/New Mexico acquisitions, respectively. The Company is amortizing the CDI over its estimated useful life of approximately 10 years using the sum of the years’ digits accelerated method.

The gross carrying amount of goodwill and the gross carrying amount and accumulated amortization of the core deposit intangible at December 31, 2023 and 2022 were:


	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount

	(Dollars in thousands)
December 31, 2023
Goodwill	$	14,135	$	—	$	14,135
Core deposit intangible		21,938		4,738		17,200
Total goodwill and intangible assets	$	36,073	$	4,738	$	31,335
December 31, 2022
Goodwill	$	12,836	$	—	$	12,836
Core deposit intangible		17,479		1,234		16,245
Total goodwill and intangible assets	$	30,315	$	1,234	$	29,081

The estimated aggregate future amortization expense over the next five years for the core deposit intangible is as follows at December 31, 2023:


(Dollars in thousands)
2024	$	3,569
2025		3,155
2026		2,739
2027		2,325
2028		1,909

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 255,229	$ 300,138
Available-for-sale securities - taxable	413,217	198,808
Available-for-sale securities - tax-exempt	353,436	488,093
Loans, net of unearned fees	6,127,690	5,372,729
Allowance for credit losses on loans	73,462	61,775
Loans, net of the allowance for credit losses on loans	6,054,228	5,310,954
Premises and equipment, net	70,869	65,984
Restricted equity securities	3,950	12,536
Interest receivable	37,294	29,507
Foreclosed assets held for sale		1,130
Goodwill and other intangible assets, net	31,335	29,081
Bank-owned life insurance	70,810	69,101
Other	90,312	95,754
Total assets	7,380,680	6,601,086
Deposits
Non-interest-bearing	990,458	1,400,260
Savings, NOW and money market	3,669,726	3,305,481
Time	1,831,092	945,567
Total deposits	6,491,276	5,651,308
Federal Home Loan Bank advances	77,889	218,111
Other borrowings	8,950	35,457
Interest payable and other liabilities	94,422	87,611
Total liabilities	6,672,537	5,992,487
Stockholders' equity
Preferred stock, $0.01 par value: Authorized - 15,000 shares, issued - 7,750 at December 31, 2023 and no shares at December 31, 2022	0	0
Common stock, $0.01 par value: Authorized - 200,000,000 shares, issued - 53,326,641 and 53,036,613 shares at December 31, 2023 and 2022, respectively	533	530
Treasury stock, at cost: 3,990,753 and 4,588,398 shares held at December 31, 2023 and 2022, respectively	(58,251)	(64,127)
Additional paid-in capital	543,556	530,658
Retained earnings	272,351	206,095
Accumulated other comprehensive (loss) income	(50,046)	(64,557)
Total stockholders' equity	708,143	608,599
Total liabilities and stockholders' equity	$ 7,380,680	$ 6,601,086

Loans and Allowance for Credit Losses - Loans Modifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 10,200	$ 30,500
Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	10,205
Current \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	10,205
Commercial And Industrial [Member] \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 5,384
Percentage Of Loans Class Modified	0.25%
Added a weighted average	1 year 2 months 12 days
Commercial And Industrial [Member] \| Current \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 5,384
Commercial real estate - owner-occupied \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 4,568
Percentage Of Loans Class Modified	0.81%
Added a weighted average	6 months
Commercial real estate - owner-occupied \| Current \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 4,568
Residential real estate \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 253
Percentage Of Loans Class Modified	0.05%
Added a weighted average	3 months 18 days
Residential real estate \| Current \| Term Extension [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Loans Modified, Amortized Cost Basis	$ 253

Nature of Operations and Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) item $ / shares	Dec. 31, 2022 USD ($) $ / shares
Subsidiary, Sale of Stock [Line Items]
Number of wholly owned subsidiaries \| item	3
Cash and cash equivalents held at the Federal Reserve Bank of Kansas City	$ 213.0
Required reserve	0.0
Cash collateral	1.0
Cash in excess of federally insured limits	$ 21.2
Number of equity security investments without readily determinable fair value \| item	5
Related party loans	$ 12.0	$ 13.0
Related party deposits	$ 106.0	$ 92.0
Preferred stock par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Noncumulative Preferred Stock \| Related Party
Subsidiary, Sale of Stock [Line Items]
Value of shares owned by related party	$ 6.0

Acquisition Activities - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition, Pro Forma Information [Abstract]
Net interest income		$ 210,352	$ 182,033	$ 172,691
Non-interest income		20,664	17,281	13,660
Net Income (Loss)		$ 66,669	61,599	69,413
Colorado/New Mexico Acquisition
Business Acquisition, Pro Forma Information [Abstract]
Net income			$ 68,846	$ 71,689
Pro-forma earnings per share, Basic			$ 1.39	$ 1.40
Pro-forma earnings per share, Diluted			$ 1.38	$ 1.38
Weighted average shares outstanding, Basic			49,489,860	51,291,428
Weighted average shares outstanding, Diluted			50,002,054	52,030,582
Net interest income	$ 1,906
Non-interest income	142
Net Income (Loss)	$ 261
Colorado/New Mexico Acquisition \| Net interest income
Business Acquisition, Pro Forma Information [Abstract]
Interest income			$ 209,957	$ 186,824
Colorado/New Mexico Acquisition \| Non-interest income
Business Acquisition, Pro Forma Information [Abstract]
Interest income			$ 26,193	$ 23,225

Parent Company Condensed Financial Statements - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash	$ 255,229	$ 300,138
Other assets	90,312	95,754
Total assets	7,380,680	6,601,086
Liabilities and stockholders' equity
Other borrowings	8,950	35,457
Total liabilities	6,672,537	5,992,487
Stockholders' equity
Total stockholders' equity	708,143	608,599	$ 667,573	$ 624,428
Total liabilities and stockholders' equity	7,380,680	6,601,086
Parent Company
Assets
Equity method investments	3,998	2,597
Investment in subsidiaries	703,532	608,545
Other assets	9,172	8,776
Total assets	719,147	624,375
Liabilities and stockholders' equity
Other borrowings		5,000
Trust preferred securities, net	1,118	1,061
Other liabilities	9,886	9,715
Total liabilities	11,004	15,776
Stockholders' equity
Total stockholders' equity	708,143	608,599
Total liabilities and stockholders' equity	719,147	624,375
Banks \| Parent Company
Assets
Cash	$ 2,445	$ 4,457

Goodwill and Core Deposit Intangible - Change In Goodwill And Core Deposit Intangible (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Core Deposit Intangible
Goodwill, Gross Carrying Amount	$ 14,135	$ 12,836
Goodwill, Net Carrying Amount	14,135	12,836
Goodwill and Core Deposit Intangible
Gross Carrying Amount, Core deposit intangible	21,938	17,479
Accumulated Amortization, Core deposit intangible	4,738	1,234
Net Carrying Amount, Core deposit intangible	17,200	16,245
Goodwill and Core Deposit Intangible
Gross Carrying Amount	36,073	30,315
Accumulated Amortization	4,738	1,234
Net Carrying Amount	$ 31,335	$ 29,081

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity

Schedule of computation of basic and diluted earnings per share


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands, except per share data)
Earnings per Common Share
Net Income	$	66,669	$	61,599	$	69,413
Less: preferred stock dividends		413		—		—
Net income available to commons stockholders		66,256		61,599		69,413
Weighted average common shares		49,010,078		49,489,860		51,291,428
Earnings per common share	$	1.35	$	1.24	$	1.35
Diluted Earnings per Common Share
Net Income	$	66,669	$	61,599	$	69,413
Less: preferred stock dividends		413		—		—
Net income available to commons stockholders		66,256		61,599		69,413
Weighted average common shares		49,010,078		49,489,860		51,291,428
Effect of dilutive shares		329,988		512,194		739,154
Weighted average dilutive common shares		49,340,066		50,002,054		52,030,582
Diluted earnings per common share	$	1.34	$	1.23	$	1.33
Stock-based awards not included because to do so would be antidilutive		799,238		523,768		658,100

Loans and Allowance for Credit Losses

12 Months Ended

Dec. 31, 2023

Loans and Allowance for Credit Losses

Loans and Allowance for Credit Losses

Note 4: Loans and Allowance for Credit Losses

The table below shows the loan portfolio composition including carrying value by segment as of the dates shown. The carrying value of loans is net of discounts, fees, costs and fair value marks of $25 million and $24 million as of December 31, 2023 and 2022, respectively.


	As of December 31,
	2023				2022
	Amount		% of Loans		Amount		% of Loans

	(Dollars in thousands)
Commercial and industrial	$	2,160,212	35	%	$	1,974,932	37	%
Energy		214,218	3			173,218	3
Commercial real estate - owner-occupied		566,253	9			437,119	8
Commercial real estate - non-owner-occupied		2,685,534	44			2,314,600	43
Residential real estate		464,095	8			439,367	8
Consumer		37,378	1			33,493	1
Loans, net of unearned fees		6,127,690	100	%		5,372,729	100	%
Less: Allowance for credit losses on loans		(73,462)				(61,775)
Loans, net of the allowance for credit losses on loans	$	6,054,228			$	5,310,954

Accrued interest of $30 million and $23 million at December 31, 2023 and 2022, respectively, presented in “interest receivable” on the consolidated statements of financial condition is excluded from the amortized cost basis disclosed in the above table.

The Company aggregates the loan portfolio by similar credit risk characteristics. The loan segments are described in additional detail below:

●

Commercial and Industrial - The category includes loans and lines of credit to commercial and industrial clients for use in property, plant, and equipment purchases, business operations, expansions and for working capital needs. Loan terms typically require amortizing payments that decrease the outstanding loan balance while the lines of credit typically require interest-only payments with maturities ranging from one- to three-years. Lines of credit allow the borrower to draw down and repay the line of credit based on the borrower’s cash flow needs. Repayment is primarily from the cash flow of a borrower’s principal business operation. Credit risk is driven by creditworthiness of a borrower and the economic conditions that impact the cash flow stability from business operations.

●

Energy - The category includes loans to oil and natural gas clients for use in financing working capital needs, exploration and production activities, and acquisitions. The loans are repaid primarily from the conversion of crude oil and natural gas to cash. Credit risk is driven by creditworthiness of a borrower and the economic conditions that impact the cash flow stability from business operations. Energy loans are typically collateralized with the underlying oil and gas reserves.

●

Commercial Real Estate – Owner-Occupied - The category includes relationships where the Company is usually the primary provider of financial services for the company and/or the principals and the primary source of repayment is through the cash flows generated by the borrowers’ business operations. Owner-occupied commercial real estate loans are typically secured by a first lien mortgage on real property plus assignments of all leases related to the properties. Credit risk may be impacted by the creditworthiness of a borrower, property values and the local economies in the borrower’s market areas.

●

Commercial Real Estate – Non-Owner-Occupied - The category includes loans that typically involve larger principal amounts and repayment of these loans are generally dependent on the leasing income generated from tenants. These are viewed primarily as cash flow loans and secondarily as loans secured by real estate.

Additionally, the category includes construction and land development loans that are based upon estimates of costs and estimated value of the completed project. Independent appraisals and a financial analysis of the developers and property owners are completed. Sources of repayment include secondary market permanent loans, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are higher risk than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, general economic conditions, and the availability of long-term financing.

The category also includes loans that are secured by multifamily properties. Repayment of these loans is primarily dependent on occupancy rates and rental income.

Credit risk for non-owner occupied commercial real estate loans may be impacted by the creditworthiness of a borrower, property values and the local economies in the borrower’s market areas.

●

Residential Real Estate - The category includes loans that are generally secured by owner-occupied 1-4 family residences. Repayment of these loans is primarily dependent on the personal income and credit rating of the borrowers. The Company also offers open- and closed-ended home equity loans, which are loans generally secured by second lien positions on residential real estate. Credit risk in these loans can be impacted by economic conditions within or outside the borrower’s market areas that might impact either property values or a borrower’s personal income.

●

Consumer - The category includes personal lines of credit and various term loans such as automobile loans and loans for other personal purposes. Repayment is primarily dependent on the personal income and credit rating of the borrowers. Credit risk is driven by consumer economic factors (such as unemployment and general economic conditions in the borrower’s market area) and the creditworthiness of a borrower.

Risk Ratings

The Company uses a series of grades which reflect its assessment of the credit quality of loans based on an analysis of the borrower's financial condition, liquidity and ability to meet contractual debt service requirements. Risk ratings incorporate the criteria utilized by regulatory authorities to describe criticized assets, but separate various levels of risk concentrated within the regulatory “Pass” category. Risk ratings are established for loans at origination and are monitored on an ongoing basis. The rating assigned to a loan reflects the risks posed by the borrower’s expected performance and the transaction’s structure. Performance metrics used to determine a risk rating include, but are not limited to, cash flow adequacy, liquidity, and collateral. A description of the loan risk ratings follows:

●

Pass - The category includes loans that are considered satisfactory. The category includes borrowers that generally maintain good liquidity and financial condition, or the credit is currently protected with sales trends remaining flat or declining. Most ratios compare favorably with industry norms and Company policies. Debt is programmed and timely repayment is expected.

●

Special Mention - The category includes borrowers that generally exhibit adverse trends in operations or an imbalanced position in their balance sheet that has not reached a point where repayment is jeopardized. Credits are currently protected but, if left uncorrected, the potential weaknesses may result in deterioration of the repayment prospects for the credit or in the Company’s credit or lien position at a future date. These credits are not adversely classified and do not expose the Company to enough risk to warrant adverse classification.

●

Substandard - The category includes borrowers that generally exhibit well-defined weakness(es) that jeopardize repayment. Credits are inadequately protected by the current worth and paying capacity of the obligor or of the collateral pledged. A distinct possibility exists that the Company will sustain some loss if deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. Substandard loans include both performing and non-performing loans and are broken out in the table below.

●

Doubtful - The category includes borrowers that exhibit weaknesses inherent in a substandard credit and characteristics that these weaknesses make collection or liquidation in full highly questionable or improbable based on existing facts, conditions, and values. Because of reasonably specific pending factors, which may work to the advantage and strengthening of the assets, classification as a loss is deferred until its more exact status may be determined.

●

Loss - Credits that are considered uncollectible or of such little value that their continuance as a bankable asset is not warranted.

The following tables present the credit risk profile of the Company’s loan portfolio based on an internal rating category and loan segments:


	As of December 31, 2023
	Amortized Cost Basis by Origination Year and Internal Risk Rating												Amortized Cost Basis
	2023		2022		2021		2020		2019		2018 and Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total

	(Dollars in thousands)
Commercial and industrial
Pass	$	379,360	$	258,182	$	193,302	$	54,901	$	38,762	$	18,801	$	1,061,365	$	53,015	$	2,057,688
Special mention		2,442		925		6,000		2,674		1,460		26		9,748		3,175		26,450
Substandard - accrual		12,655		1,877		5,101		238		598		815		28,652		16,831		66,767
Substandard - non-accrual		—		—		266		24		—		—		6,848		178		7,316
Doubtful		—		—		—		—		—		—		1,991		—		1,991
Loss		—		—		—		—		—		—		—		—		—
Total	$	394,457	$	260,984	$	204,669	$	57,837	$	40,820	$	19,642	$	1,108,604	$	73,199	$	2,160,212
Energy
Pass	$	4,581	$	6,868	$	—	$	156	$	—	$	—	$	202,218	$	107	$	213,930
Special mention		—		—		—		—		—		—		—		—		—
Substandard - accrual		—		—		—		—		—		—		—		—		—
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		288		—		288
Loss		—		—		—		—		—		—		—		—		—
Total	$	4,581	$	6,868	$	-	$	156	$	-	$	-	$	202,506	$	107	$	214,218
Commercial real estate - owner occupied
Pass	$	56,236	$	92,148	$	119,684	$	62,072	$	49,992	$	32,936	$	76,782	$	36,263	$	526,113
Special mention		10,095		6,798		8,522		1,747		793		2,448		—		576		30,979
Substandard - accrual		2,977		—		—		1,635		770		2,047		—		1,528		8,957
Substandard - non-accrual		—		—		204		—		—		—		—		—		204
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	69,308	$	98,946	$	128,410	$	65,454	$	51,555	$	37,431	$	76,782	$	38,367	$	566,253
Commercial real estate - non-owner occupied
Pass	$	477,238	$	842,755	$	242,405	$	161,845	$	65,540	$	50,062	$	626,998	$	145,621	$	2,612,464
Special mention		—		18,939		7,331		-		17,208		4,052		—		—		47,530
Substandard - accrual		10,341		—		2,396		3,626		—		298		—		439		17,100
Substandard - non-accrual		—		713		6,029		1,698		—		—		—		—		8,440
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	487,579	$	862,407	$	258,161	$	167,169	$	82,748	$	54,412	$	626,998	$	146,060	$	2,685,534
Residential real estate
Pass	$	37,676	$	86,919	$	82,390	$	110,853	$	36,589	$	62,288	$	37,619	$	—	$	454,334
Special mention		—		813		3,519		176		—		—		—		—		4,508
Substandard - accrual		253		—		1,317		3,125		203		—		176		—		5,074
Substandard - non-accrual		—		—		—		—		—		—		—		179		179
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	37,929	$	87,732	$	87,226	$	114,154	$	36,792	$	62,288	$	37,795	$	179	$	464,095
Consumer
Pass	$	11,591	$	6,004	$	462	$	54	$	221	$	25	$	18,960	$	—	$	37,317
Special mention		—		—		—		—		—		5		—		—		5
Substandard - accrual		—		—		—		23		—		—		—		—		23
Substandard - non-accrual		—		33		—		—		—		—		—		—		33
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	11,591	$	6,037	$	462	$	77	$	221	$	30	$	18,960	$	-	$	37,378
Total
Pass	$	966,682	$	1,292,876	$	638,243	$	389,881	$	191,104	$	164,112	$	2,023,942	$	235,006	$	5,901,846
Special mention		12,537		27,475		25,372		4,597		19,461		6,531		9,748		3,751		109,472
Substandard - accrual		26,226		1,877		8,814		8,647		1,571		3,160		28,828		18,798		97,921
Substandard - non-accrual		—		746		6,499		1,722		—		—		6,848		357		16,172
Doubtful		—		—		—		—		—		—		2,279		—		2,279
Loss		—		—		—		—		—		—		—		—		—
Total	$	1,005,445	$	1,322,974	$	678,928	$	404,847	$	212,136	$	173,803	$	2,071,645	$	257,912	$	6,127,690


	As of December 31, 2022
	Amortized Cost Basis by Origination Year and Internal Risk Rating												Amortized Cost Basis
	2022		2021		2020		2019		2018		2017 and Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total

	(Dollars in thousands)
Commercial and industrial
Pass	$	465,963	$	281,166	$	55,934	$	50,445	$	48,595	$	20,648	$	890,109	$	19,089	$	1,831,949
Special mention		2,531		23,055		14,573		2,951		4,947		86		49,861		41		98,045
Substandard - accrual		290		677		1,647		1,330		740		299		10,805		21,166		36,954
Substandard - non-accrual		—		104		—		6		1,383		—		6,479		—		7,972
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		12		—		—		12
Total	$	468,784	$	305,002	$	72,154	$	54,732	$	55,665	$	21,045	$	957,254	$	40,296	$	1,974,932
Energy
Pass	$	7,585	$	306	$	228	$	—	$	—	$	—	$	162,834	$	171	$	171,124
Special mention		—		—		—		—		—		—		—		—		—
Substandard - accrual		—		—		—		—		—		—		1,476		—		1,476
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		618		—		618
Loss		—		—		—		—		—		—		—		—		—
Total	$	7,585	$	306	$	228	$	—	$	—	$	—	$	164,928	$	171	$	173,218
Commercial real estate - owner occupied
Pass	$	79,695	$	127,489	$	56,607	$	49,620	$	28,143	$	20,299	$	28,814	$	14,024	$	404,691
Special mention		17,292		6,603		452		1,330		98		2,486		—		2,469		30,730
Substandard - accrual		—		—		403		—		—		1,295		—		—		1,698
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	96,987	$	134,092	$	57,462	$	50,950	$	28,241	$	24,080	$	28,814	$	16,493	$	437,119
Commercial real estate - non-owner occupied
Pass	$	827,420	$	442,176	$	200,090	$	101,827	$	49,834	$	73,940	$	458,297	$	111,322	$	2,264,906
Special mention		5,931		7,727		114		—		6,460		1,853		2,429		9,852		34,366
Substandard - accrual		10,545		310		607		82		60		253		—		992		12,849
Substandard - non-accrual		—		2,479		—		—		—		—		—		—		2,479
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	843,896	$	452,692	$	200,811	$	101,909	$	56,354	$	76,046	$	460,726	$	122,166	$	2,314,600
Residential real estate
Pass	$	77,416	$	84,158	$	121,078	$	45,265	$	37,395	$	34,852	$	31,892	$	—	$	432,056
Special mention		253		3,272		187		226		—		—		—		—		3,938
Substandard - accrual		34		—		3,148		—		—		—		—		—		3,182
Substandard - non-accrual		—		—		—		—		—		—		—		191		191
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	77,703	$	87,430	$	124,413	$	45,491	$	37,395	$	34,852	$	31,892	$	191	$	439,367
Consumer
Pass	$	7,917	$	1,347	$	2,611	$	265	$	129	$	6	$	21,173	$	—	$	33,448
Special mention		—		—		—		—		8		—		—		—		8
Substandard - accrual		—		—		32		—		5		—		—		—		37
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	7,917	$	1,347	$	2,643	$	265	$	142	$	6	$	21,173	$	—	$	33,493
Total
Pass	$	1,465,996	$	936,642	$	436,548	$	247,422	$	164,096	$	149,745	$	1,593,119	$	144,606	$	5,138,174
Special mention		26,007		40,657		15,326		4,507		11,513		4,425		52,290		12,362		167,087
Substandard - accrual		10,869		987		5,837		1,412		805		1,847		12,281		22,158		56,196
Substandard - non-accrual		—		2,583		—		6		1,383		—		6,479		191		10,642
Doubtful		—		—		—		—		—		—		618		—		618
Loss		—		—		—		—		—		12		—		—		12
Total	$	1,502,872	$	980,869	$	457,711	$	253,347	$	177,797	$	156,029	$	1,664,787	$	179,317	$	5,372,729

The following tables present the Company’s loan portfolio aging analysis as of December 31, 2023 and 2022:


	As of December 31, 2023
	Amortized Cost Basis by Origination Year and Past Due Status												Amortized Cost Basis
															Revolving loans
											2018 and				converted to
	2023		2022		2021		2020		2019		Prior		Revolving loans		term loans		Total

	(Dollars in thousands)
Commercial and industrial
30-59 days	$	250	$	178	$	-	$	81	$	-	$	136	$	158	$	151	$	954
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		30		28		347		24		199		-		10,800		2,376		13,804
Total past due		280		206		347		105		199		136		10,958		2,527		14,758
Current		394,177		260,778		204,322		57,732		40,621		19,506		1,097,646		70,672		2,145,454
Total	$	394,457	$	260,984	$	204,669	$	57,837	$	40,820	$	19,642	$	1,108,604	$	73,199	$	2,160,212
Greater than 90 days and accruing	$	30	$	28	$	81	$	-	$	199	$	-	$	2,000	$	2,199	$	4,537
Energy
30-59 days	$	-	$	-	$	-	$	-	$	-	$	-	$	30	$	-	$	30
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		-		-		-		-		-		288		-		288
Total past due		-		-		-		-		-		-		318		-		318
Current		4,581		6,868		-		156		-		-		202,188		107		213,900
Total	$	4,581	$	6,868	$	-	$	156	$	-	$	-	$	202,506	$	107	$	214,218
Greater than 90 days and accruing	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Commercial real estate - owner occupied
30-59 days	$	-	$	-	$	-	$	371	$	-	$	71	$	-	$	-	$	442
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		-		204		-		-		-		-		-		204
Total past due		-		-		204		371		-		71		-		-		646
Current		69,308		98,946		128,206		65,083		51,555		37,360		76,782		38,367		565,607
Total	$	69,308	$	98,946	$	128,410	$	65,454	$	51,555	$	37,431	$	76,782	$	38,367	$	566,253
Greater than 90 days and accruing	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Commercial real estate - non-owner occupied
30-59 days	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		713		6,029		1,698		-		307		-		-		8,747
Total past due		-		713		6,029		1,698		-		307		-		-		8,747
Current		487,579		861,694		252,132		165,471		82,748		54,105		626,998		146,060		2,676,787
Total	$	487,579	$	862,407	$	258,161	$	167,169	$	82,748	$	54,412	$	626,998	$	146,060	$	2,685,534
Greater than 90 days and accruing	$	-	$	-	$	-	$	-	$	-	$	307	$	-	$	-	$	307
Residential real estate
30-59 days	$	-	$	6	$	-	$	137	$	-	$	-	$	-	$	-	$	143
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		-		1,317		-		-		-		176		-		1,493
Total past due		-		6		1,317		137		-		-		176		-		1,636
Current		37,929		87,726		85,909		114,017		36,792		62,288		37,619		179		462,459
Total	$	37,929	$	87,732	$	87,226	$	114,154	$	36,792	$	62,288	$	37,795	$	179	$	464,095
Greater than 90 days and accruing	$	-	$	-	$	1,317	$	-	$	-	$	-	$	176	$	-	$	1,493
Consumer
30-59 days	$	-	$	219	$	40	$	-	$	-	$	-	$	200	$	-	$	459
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		35		-		-		-		-		-		-		35
Total past due		-		254		40		-		-		-		200		-		494
Current		11,591		5,783		422		77		221		30		18,760		-		36,884
Total	$	11,591	$	6,037	$	462	$	77	$	221	$	30	$	18,960	$	-	$	37,378
Greater than 90 days and accruing	$	-	$	2	$	-	$	-	$	-	$	-	$	-	$	-	$	2
Total
30-59 days	$	250	$	403	$	40	$	589	$	-	$	207	$	388	$	151	$	2,028
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		30		776		7,897		1,722		199		307		11,264		2,376		24,571
Total past due		280		1,179		7,937		2,311		199		514		11,652		2,527		26,599
Current		1,005,165		1,321,795		670,991		402,536		211,937		173,289		2,059,993		255,385		6,101,091
Total	$	1,005,445	$	1,322,974	$	678,928	$	404,847	$	212,136	$	173,803	$	2,071,645	$	257,912	$	6,127,690
Greater than 90 days and accruing	$	30	$	30	$	1,398	$	-	$	199	$	307	$	2,176	$	2,199	$	6,339


	As of December 31, 2022
	Amortized Cost Basis by Origination Year and Past Due Status												Amortized Cost Basis
															Revolving loans
											2017 and				converted to
	2022		2021		2020		2019		2018		Prior		Revolving loans		term loans		Total

	(Dollars in thousands)
Commercial and industrial
30-59 days	$	20	$	4,784	$	—	$	—	$	—	$	1,049	$	2,814	$	—	$	8,667
60-89 days		—		55		—		—		—		—		980		430		1,465
Greater than 90 days		—		143		7		6		1,383		12		7,063		—		8,614
Total past due		20		4,982		7		6		1,383		1,061		10,857		430		18,746
Current		468,764		300,020		72,147		54,726		54,282		19,984		946,397		39,866		1,956,186
Total	$	468,784	$	305,002	$	72,154	$	54,732	$	55,665	$	21,045	$	957,254	$	40,296	$	1,974,932
Greater than 90 days and accruing	$	—	$	39	$	7	$	—	$	—	$	—	$	584	$	—	$	630
Energy
30-59 days	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		—		—		—		—		—		618		—		618
Total past due		—		—		—		—		—		—		618		—		618
Current		7,585		306		228		—		—		—		164,310		171		172,600
Total	$	7,585	$	306	$	228	$	—	$	—	$	—	$	164,928	$	171	$	173,218
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - owner occupied
30-59 days	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		—		—		—		—		—		—		—		—
Total past due		—		—		—		—		—		—		—		—		—
Current		96,987		134,092		57,462		50,950		28,241		24,080		28,814		16,493		437,119
Total	$	96,987	$	134,092	$	57,462	$	50,950	$	28,241	$	24,080	$	28,814	$	16,493	$	437,119
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - non-owner occupied
30-59 days	$	4,293	$	—	$	—	$	1,180	$	—	$	—	$	—	$	—	$	5,473
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		—		—		—		—		—		—		—		—
Total past due		4,293		—		—		1,180		—		—		—		—		5,473
Current		839,603		452,692		200,811		100,729		56,354		76,046		460,726		122,166		2,309,127
Total	$	843,896	$	452,692	$	200,811	$	101,909	$	56,354	$	76,046	$	460,726	$	122,166	$	2,314,600
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Residential real estate
30-59 days	$	—	$	3,867	$	—	$	10	$	—	$	—	$	30	$	—	$	3,907
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		120		—		—		—		—		—		—		120
Total past due		—		3,987		—		10		—		—		30		—		4,027
Current		77,703		83,443		124,413		45,481		37,395		34,852		31,862		191		435,340
Total	$	77,703	$	87,430	$	124,413	$	45,491	$	37,395	$	34,852	$	31,892	$	191	$	439,367
Greater than 90 days and accruing	$	—	$	120	$	—	$	—	$	—	$	—	$	—	$	—	$	120
Consumer
30-59 days	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
60-89 days		—		—		2		—		5		—		—		—		7
Greater than 90 days		—		—		—		—		—		—		—		—		—
Total past due		—		—		2		—		5		—		—		—		7
Current		7,917		1,347		2,641		265		137		6		21,173		—		33,486
Total	$	7,917	$	1,347	$	2,643	$	265	$	142	$	6	$	21,173	$	—	$	33,493
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total
30-59 days	$	4,313	$	8,651	$	—	$	1,190	$	—	$	1,049	$	2,844	$	—	$	18,047
60-89 days		—		55		2		—		5		—		980		430		1,472
Greater than 90 days		—		263		7		6		1,383		12		7,681		—		9,352
Total past due		4,313		8,969		9		1,196		1,388		1,061		11,505		430		28,871
Current		1,498,559		971,900		457,702		252,151		176,409		154,968		1,653,282		178,887		5,343,858
Total	$	1,502,872	$	980,869	$	457,711	$	253,347	$	177,797	$	156,029	$	1,664,787	$	179,317	$	5,372,729
Greater than 90 days and accruing	$	—	$	159	$	7	$	—	$	—	$	—	$	584	$	—	$	750

Non-accrual loans are loans for which the Company does not record interest income. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged off at an earlier date, if collection of principal or interest is considered doubtful. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The following table presents the Company’s non-accrual loans by loan segments at December 31, 2023 and 2022:


As of December 31, 2023
	Amortized Cost Basis by Origination Year												Amortized Cost Basis
															Revolving				Non-accrual
															loans				Loans with
											2018 and		Revolving		converted		Total Non-		no related
	2023		2022		2021		2020		2019		Prior		loans		to term loans		accrual Loans		Allowance

	(Dollars in thousands)
Commercial and industrial	$	—	$	—	$	266	$	24	$	—	$	—	$	8,839	$	178	$	9,307	$	6,198
Energy		—		—		—		—		—		—		288		—		288		288
Commercial real estate - owner occupied		—		—		204		—		—		—		—		—		204		204
Commercial real estate - non-owner occupied		—		713		6,029		1,698		—		—		—		—		8,440		1,698
Residential real estate		—		—		—		—		—		—		—		179		179		179
Consumer		—		33		—		—		—		—		—		—		33		33
Total	$	—	$	746	$	6,499	$	1,722	$	—	$	—	$	9,127	$	357	$	18,451	$	8,600


As of December 31, 2022
	Amortized Cost Basis by Origination Year												Amortized Cost Basis
															Revolving				Non-accrual
															loans				Loans with
											2017 and		Revolving		converted		Total Non-		no related
	2022		2021		2020		2019		2018		Prior		loans		to term loans		accrual Loans		Allowance

	(Dollars in thousands)
Commercial and industrial	$	—	$	104	$	—	$	6	$	1,383	$	12	$	6,479	$	—	$	7,984	$	7,984
Energy		—		—		—		—		—		—		618		—		618		618
Commercial real estate - owner occupied		—		—		—		—		—		—		—		—		—		—
Commercial real estate - non-owner occupied		—		2,479		—		—		—		—		—		—		2,479		2,479
Residential real estate		—		—		—		—		—		—		—		191		191		191
Consumer		—		—		—		—		—		—		—		—		—		—
Total	$	—	$	2,583	$	—	$	6	$	1,383	$	12	$	7,097	$	191	$	11,272	$	11,272

Interest income recognized on non-accrual loans was zero and $1.5 million for the year ended December 31, 2023 and 2022, respectively.

Allowance for Credit Losses

The Company’s CECL committee meets at least quarterly to oversee the ACL methodology. The committee estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The ACL represents the Company’s current estimate of lifetime credit losses inherent in the loan portfolio at the statement of financial condition date. The ACL is adjusted for expected prepayments when appropriate and excludes expected extensions, renewals, and modifications.

The ACL is the sum of three components: (i) asset specific / individual loan reserves; (ii) quantitative (formulaic or pooled) reserves; and (iii) qualitative (judgmental) reserves.

Asset Specific - When unique qualities cause a loan’s exposure to loss to be inconsistent with the pooled reserves, the loan is individually evaluated. Individual reserves are calculated for loans that are risk-rated substandard and on non-accrual and loans that are risk-rated doubtful or loss that are greater than a defined dollar threshold. Reserves on asset specific loans may be based on collateral, for collateral-dependent loans, or on quantitative and qualitative factors, including expected cash flow, market sentiment, and guarantor support.

Quantitative - The Company utilizes the cohort method, which identifies and captures the balance of a pool of loans with similar risk characteristics as of a particular time to form a cohort. The cohort is then tracked for losses over the remaining life of loans or until the pool is exhausted. The Company uses a lookback period of approximately six-years to

establish the cohort population. By using the historical data timeframe, the Company can establish a historical loss factor for each of its loan segments.

Qualitative – The Company uses qualitative factors to adjust the historical loss factors for current conditions. The Company primarily uses the following qualitative factors:

●

The nature and volume of changes in risk ratings;

●

The volume and severity of past due loans;

●

The volume of non-accrual loans;

●

The nature and volume of the loan portfolio, including the existence, growth, and effect of any concentrations of credit;

●

Changes in the Institute of Supply Management’s Purchasing Manager Indices (“PMI”) for services and manufacturing;

●

Changes in collateral values;

●

Changes in lending policies, procedures, and quality of loan reviews;

●

Changes in lending staff; and

●

Changes in competition, legal and regulatory environments

In addition to the current condition qualitative adjustments, the Company uses the Federal Reserve’s unemployment forecast to adjust the ACL based on forward looking guidance. The Federal Reserve’s unemployment forecast extends three-years and is eventually reverted to the mean of six percent by year 10.

The following tables present the activity in the allowance for credit losses and allowance for credit losses on off-balance sheet credit exposures by portfolio segment for the years ended December 31, 2023 and 2022:


	For the Year Ended December 31, 2023

					Commercial		Commercial
					Real Estate		Real Estate
	Commercial				Owner-		Non-owner-		Residential
	and Industrial		Energy		Occupied		Occupied		Real Estate		Consumer		Total

	(Dollars in thousands)
Allowance for Credit Losses:
Beginning balance	$	26,803	$	4,396	$	5,214	$	21,880	$	3,333	$	149	$	61,775
PCD allowance for credit loss at acquisition		51		—		61		217		—		—		329
Charge-offs		(5,703)		—		—		—		—		(6)		(5,709)
Recoveries		164		139		—		—		—		—		303
Provision (release)		10,871		(1,392)		976		5,390		118		(99)		15,864
Day 1 CECL provision expense		58		—		194		643		5		—		900
Ending balance	$	32,244	$	3,143	$	6,445	$	28,130	$	3,456	$	44	$	73,462
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures:
Beginning balance	$	319	$	787	$	221	$	7,323	$	35	$	3	$	8,688
Provision (release)		635		(638)		(96)		(2,227)		54		(3)		(2,275)
Ending balance	$	954	$	149	$	125	$	5,096	$	89	$	—	$	6,413


	For the Year Ended December 31, 2022

					Commercial		Commercial
					Real Estate		Real Estate
	Commercial				Owner-		Non-owner-		Residential
	and Industrial		Energy		Occupied		Occupied		Real Estate		Consumer		Total

	(Dollars in thousands)
Allowance for Credit Losses:
Beginning balance, prior to adoption of ASU 2016-13	$	19,005	$	9,190	$	3,852	$	21,212	$	3,231	$	138	$	56,628
PCD allowance for credit loss at acquisition		523		—		210		172		4		6		915
Charge-offs		(4,762)		(4,651)		—		(1,102)		(216)		(13)		(10,744)
Recoveries		2,628		2,008		—		2,335		—		8		6,979
Provision (release)		7,567		(2,151)		(447)		(1,748)		195		(14)		3,402
Day 1 CECL provision expense		1,842		—		1,599		1,011		119		24		4,595
Ending balance	$	26,803	$	4,396	$	5,214	$	21,880	$	3,333	$	149	$	61,775
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures:
Beginning balance, prior to adoption of ASU 2016-13	$	151	$	265	$	176	$	4,586	$	5	$	1	$	5,184
Provision (release)		51		522		39		2,436		(3)		2		3,047
Day 1 CECL provision expense		117		—		6		301		33		—		457
Ending balance	$	319	$	787	$	221	$	7,323	$	35	$	3	$	8,688

The ACL increased $11.7 million during the year ended December 31, 2023 and included provision of $15.9 million due to loan growth, changes in credit quality, economic factors and an increase in specific reserves. Net charge-offs were $5.4 million, primarily related to five commercial and industrial loans. The year-to-date increase also included increases of $0.3 million for reserves on PCD loans and $0.9 million of Day 1 CECL provision expense related to the Tucson acquisition. The reserve on unfunded commitments decreased $2.3 million due to a decrease in unfunded commitments.

The following table presents the Company’s gross charge-offs by year of origination for the year ended December 31, 2023:


As of December 31, 2023
	Gross Charge-offs by Origination Year												Gross Charge-Offs
															Revolving
															loans
											2018 and		Revolving		converted		Gross
	2023		2022		2021		2020		2019		Prior		loans		to term loans		Charge-Offs

	(Dollars in thousands)
Commercial and industrial	$	581	$	7	$	72	$	—	$	—	$	1,358	$	3,165	$	520	$	5,703
Energy		—		—		—		—		—		—		—		—		—
Commercial real estate - owner occupied		—		—		—		—		—		—		—		—		—
Commercial real estate - non-owner occupied		—		—		—		—		—		—		—		—		—
Residential real estate		—		—		—		—		—		—		—		—		—
Consumer		—		1		—		—		—		5		—		—		6
Total	$	581	$	8	$	72	$	—	$	—	$	1,363	$	3,165	$	520	$	5,709

Collateral Dependent Loans

Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. The following table presents the amortized cost balance of loans considered collateral dependent by loan segment and collateral type as of December 31, 2023 and 2022:


As of December 31, 2023
					Amortized Cost of
					Collateral
	Amortized Cost of		Related Allowance		Dependent Loans
	Collateral		for		with no related
Loan Segment and Collateral Description	Dependent Loans		Credit Losses		Allowance

	(Dollars in thousands)
Commercial and industrial
All business assets	$	9,308	$	1,392	$	6,198
Energy
Oil and natural gas properties		288		—		288
Commercial real estate - owner-occupied
Commercial real estate properties		204		—		204
Commercial real estate - non-owner-occupied
Commercial real estate properties		8,440		571		1,698
Residential real estate
Residential real estate properties		179		—		179
Consumer
Vehicles & other personal assets		—		—		—
	$	18,419	$	1,963	$	8,567


As of December 31, 2022
					Amortized Cost of
					Collateral
	Amortized Cost of		Related Allowance		Dependent Loans
	Collateral		for		with no related
Loan Segment and Collateral Description	Dependent Loans		Credit Losses		Allowance

	(Dollars in thousands)
Commercial and industrial
All business assets	$	7,981	$	—	$	7,981
Energy
Oil and natural gas properties		618		—		618
Commercial real estate - owner-occupied
Commercial real estate properties		—		—		—
Commercial real estate - non-owner-occupied
Commercial real estate properties		92		—		92
Residential real estate
Residential real estate properties		—		—		—
Consumer
Vehicles & other personal assets		39		22		—
	$	8,728	$	22	$	8,689

Loan Modifications

The Company considers loans to borrowers experiencing financial difficulties to be troubled loans. Effective January 1, 2023, the Company adopted ASU 2022-02, which eliminates the accounting guidance for TDR and requires an entity to evaluate whether loan modifications represent a new loan or a continuation of an existing loan. Such troubled debt modifications (“TDM”) may include principal forgiveness, interest rate reductions, other-than-insignificant-payment delays, term extensions or any combination thereof.

During the year ended December 31, 2023, the Company modified eight loans with an amortized cost basis of $10.2 million to facilitate repayment that are considered TDMs. The following table presents, by loan segment, the amortized cost basis as of the date shown for modified loans to borrowers experiencing financial difficulty:


	December 31, 2023
	Term Extension
	Amortized Cost Basis		% of Loan Class

	(Dollars in thousands)
Commercial and industrial	$	5,384		0.25	%
Commercial real estate - owner occupied		4,568		0.81
Residential real estate		253		0.05
Total Loans	$	10,205

The following schedule presents the payment status, by loan segment, as of December 31, 2023, of the amortized cost basis of loans that have been modified since January 1, 2023:


	Balance at December 31, 2023
			30-59 Days		60-89 Days		Greater than 90		Total
	Current		Past Due		Past Due		Days Past Due		Past Due

	(Dollars in thousands)
Commercial and industrial	$	5,384	$	—	$	—	$	—	$	—
Commercial real estate - owner occupied		4,568		—		—		—		—
Residential real estate		253		—		—		—		—
Total Loans	$	10,205	$	—	$	—	$	—	$	—

The Company had no TDMs that were modified and had defaulted on their modified terms during the year ended December 31, 2023. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due on principal or interest. The allowance for credit losses related to TDMs on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as TDMs.

The following schedule presents the financial effect of the modifications made to borrowers experiencing financial difficulty as of December 31, 2023:


		December 31, 2023
		Financial Effect
		Term Extension
Commercial and industrial		Added a weighted average 1.2 years to the life of loan, which reduced monthly payment amounts
Commercial real estate - owner occupied		Added a weighted average 0.5 years to the life of loan, which reduced monthly payment amounts
Residential real estate		Added a weighted average 0.3 years to the life of loan, which reduced monthly payment amounts

Troubled Debt Restructurings

Prior to the adoption of ASU 2022-02, TDRs were extended to borrowers who were experiencing financial difficulty and who had been granted a concession, excluding loan modifications as a result of the COVID-19 pandemic. The modification of terms typically included the extension of maturity, reduction or deferment of monthly payment, or reduction of the stated interest rate. The outstanding balance of TDRs was $30.5 million as of December 31, 2022.

Allowance for Credit Losses on Off-Balance Sheet Credit Exposures

The Company estimates expected credit losses for off-balance sheet credit exposures unless the obligation is unconditionally cancellable by the Company. The ACL on off-balance sheet credit exposures is adjusted as a provision (release) for credit loss expense. The estimate is calculated for each loan segment and includes consideration of the likelihood

that funding will occur and an estimate of the expected credit losses on commitments expected to be funded over its estimated life. For each pool of contractual obligations expected to be funded, the Company uses the reserve rate established for the related loan pools. The $6 million and $9 million allowance for credit losses on off-balance sheet credit exposures at December 31, 2023 and 2022, respectively, are included in “interest payable and other liabilities” on the statements of financial condition.

The following categories of off-balance sheet credit exposures have been identified:

●

Loan commitments – include revolving lines of credit, non-revolving lines of credit, and loans approved that are not yet funded. Risks inherent to revolving lines of credit often are related to the susceptibility of an individual or business experiencing unpredictable cash flow or financial troubles, thus leading to payment default. The primary risk associated with non-revolving lines of credit is the diversion of funds for other expenditures.

●

Letters of credit – are primarily established to provide assurance to the beneficiary that the applicant will perform certain obligations arising out of a separate transaction between the beneficiary and applicant. If the obligation is not met, it gives the beneficiary the right to draw on the letter of credit.

Nature of Operations and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Nature of Operations and Summary of Significant Accounting Policies

Nature of Operations and Summary of Significant Accounting Policies

Note 1: Nature of Operations and Summary of Significant Accounting Policies

Organization and Nature of Operations

CrossFirst Bankshares, Inc., a Kansas corporation (the “Company”), is a bank holding company whose principal activities are the ownership and management of its wholly owned subsidiary, CrossFirst Bank (the “Bank”). The Bank has three wholly owned subsidiaries: (i) CrossFirst Investments, Inc., which holds investments in marketable securities; (ii) CFBSA I, LLC, which can hold foreclosed assets; and (iii) CFBSA II, LLC, which can hold foreclosed assets.

The Bank is engaged in providing a full range of banking and financial services to individual and corporate clients primarily through its branches in: (i) Leawood, Kansas; (ii) Wichita, Kansas; (iii) Kansas City, Missouri; (iv) Oklahoma City, Oklahoma; (v) Tulsa, Oklahoma; (vi) Dallas, Texas; (vii) Fort Worth, Texas; (viii) Frisco, Texas; (ix) Phoenix, Arizona; (x) Tucson, Arizona; (xi) Colorado Springs, Colorado; (xii) Denver, Colorado; and (xiii) Clayton, New Mexico. The Bank is subject to regulation by certain federal and state agencies and undergoes periodic examinations by those regulatory authorities.

The Company’s accounting and reporting policies conform to accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of the Company, the Bank and its wholly-owned subsidiaries. All significant intercompany accounts and transactions were eliminated in consolidation.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, valuation of deferred tax assets, valuation of goodwill, stock-based compensation, derivatives, and fair values of financial instruments.

For the year ended December 31, 2023, the Company revised the reported loan segments to better reflect how management monitors the portfolio, assesses credit risk and evaluates the ACL. All prior period disclosures have been revised to reflect the changes to the loan segments. The change had no impact on net income.

Summary of Significant Accounting Policies

Cash Equivalents - The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2023, cash equivalents consisted primarily of both interest-bearing and non-interest-bearing accounts with other banks. Approximately $213 million of the Company’s cash and cash equivalents were held at the Federal Reserve Bank of Kansas City at December 31, 2023. The Company is required to maintain reserve funds in cash and/or on deposit with the Federal Reserve Bank. The reserve required at December 31, 2023 was $0. In addition, the Company is required from time to time to place cash collateral with third parties as part of its back-to-back swap agreements and cash flow hedges. At December 31, 2023, $1.0 million of cash collateral was required. At December 31, 2023, the Company’s cash accounts, excluding funds at the Federal Reserve Bank and funds required as cash collateral, exceeded federally insured limits by $21.2 million.

Securities - Debt securities for which the Company has no immediate plan to sell but which may be sold in the future, are classified as available-for-sale (“AFS”) and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss). Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Gains and losses on the sale of debt securities are recorded on the trade date and are determined using the specific identification method.

Equity securities are recorded at fair value with unrealized gains and losses included in earnings. Gains and losses on the sale of equity securities are recorded on the trade date and are determined using the specific identification method.

The Company elected a measurement alternative for five private equity investments that did not have a readily determinable fair value and did not qualify for the practical expedient to estimate fair value using the net asset value per share. A cost basis was calculated for the equity investments. The recorded balance will adjust for any impairment or any observable price changes for an identical or similar investment of the same issuer.

For AFS securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the securities’ amortized cost basis is written down to fair value through income. For AFS securities that do not meet the criteria above, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. Management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than amortized cost basis. The Company has elected to exclude accrued interest receivable from investment securities from the credit loss assessment as interest deemed uncollectible is written off through interest income.

Loans - Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances adjusted for unearned income, charge-offs, the allowance for credit losses, any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans.

For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan.

The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well secured and in process of collection. A credit is considered well secured if it is secured by collateral in the form of liens or pledges of real or personal property, including securities, that have a realizable value sufficient to discharge the debt (including accrued interest) in full or is secured by the guaranty of a financially responsible party. A debt is in the process of collection if collection of the debt is proceeding in due course either through legal action, including enforcement procedures, or in appropriate circumstances, through collection efforts not involving legal action which are reasonably expected to result in repayment of the debt or in its restoration to a current status. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged off at an earlier date, if collection of principal or interest is considered doubtful.

All interest accrued but not collected for loans that are placed on non-accrual or charged off are reversed against interest income. The interest on these loans is accounted for on the cash basis or cost recovery method, until qualifying for return to accrual. When payments are received on non-accrual loans, payments are applied to principal unless there is a clear indication that the quality of the loan has improved to the point that it can be placed back on accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Allowance for Credit Losses - The Company adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments, effective January 1, 2022. The Current Expected Credit Loss (“CECL”) model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions.

The Company uses a loss-rate (“cohort”) method to estimate the expected allowance for credit losses (“ACL”) for all loan pools. The cohort method identifies and captures the balance of a pool of loans with similar risk characteristics, as of a particular point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over their remaining lives, or until the loans are “exhausted” (i.e., have reached an acceptable point in time at which a significant majority of all losses are expected to have been recognized). The Company has elected to exclude accrued interest receivable from the ACL process, because a timely write-off policy exists.

Unfunded Loan Commitments

In addition to the ACL for funded loans, the Company maintains reserves to cover the risk of loss associated with off-balance sheet unfunded loan commitments. The allowance for off-balance sheet credit losses is maintained within the other liabilities in the statements of financial condition. Under the CECL framework, adjustments to this liability are recorded as provision for credit losses in the statements of operations. Unfunded loan commitment balances are evaluated by loan class and further segregated by revolving and non-revolving commitments. In order to establish the required level of reserve, the Company applies average historical utilization rates and ACL loan model loss rates for each loan class to the outstanding unfunded commitment balances.

Refer to Note 4: Loans and Allowance for Credit Losses for additional information regarding the policies, procedures, and credit quality indicators used by the Company.

Premises and Equipment - With the exception of premises and equipment acquired through business combinations, which are initially measured and recorded at fair value, depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are capitalized and depreciated using the straight-line method over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. The Company generally assigns depreciable lives of 35 to 40 years for buildings and improvements, 5 to 7 years for furniture and fixtures and 3 to 5 years for equipment. The Company reviews premises and equipment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized when the sum of the undiscounted future net cash flows expected to result from the use of the asset and its eventual disposal is less than its carrying amount.

Restricted Equity Securities - Restricted equity securities include investments in FHLB Topeka and FHLB Dallas. FHLB Topeka and FHLB Dallas are Federal Home Loan Banks and investment in their stock is required for institutions that are members of the Federal Home Loan System. The required investment in the common stock is based on a predetermined formula.

Bank-Owned Life Insurance - The Company has purchased life insurance policies on certain key employees that are accounted for under the fair value method. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contract at the statement of financial condition date, which is the cash surrender value. Changes in cash surrender value are recorded in earnings in the period in which the changes occur.

Foreclosed Assets Held-for-Sale - Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are initially recorded at fair value less estimated costs to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated costs to sell. Revenue and expenses from operations and changes in the valuation allowance are included in the non-interest expense line Foreclosed assets, net.

Goodwill and intangible assets, net - Goodwill is established and recorded if the consideration given during an acquisition transaction exceeds the fair value of the net assets received. Goodwill has an indefinite useful life and is not amortized, but is evaluated annually for potential impairment, or when events or circumstances indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. A qualitative assessment is performed to determine whether the existence of events or circumstances led to a determination that it was more likely than not the fair value was less than the carrying amount, including goodwill. If, based on the evaluation, it is determined to be more likely than not that the fair value was less than the carrying value, then goodwill is tested further for impairment. If the implied fair value of goodwill is lower than its carrying amount, a goodwill impairment would be indicated and goodwill written down to its implied fair value.

Intangible assets that have finite useful lives, such as core deposit intangibles and servicing assets, are amortized over their estimated useful lives. The Company’s core deposit intangible assets represent the value of the anticipated future cost savings that will result from the acquired core deposit relationships versus an alternative source of funding. Judgment may be used in assessing goodwill and intangible assets for impairment. Estimates of fair value are based on projections of revenues, operating costs and cash flows of the reporting unit considering historical and anticipated future results, general economic

and market conditions, as well as the impact of planned business or operational strategies. The valuations use a combination of present value techniques to measure fair value considering market factors. Additionally, judgment is used in determining the useful lives of finite-lived intangible assets. Adverse changes in the economic environment, operations of the reporting unit, or changes in judgments and projections could result in a significantly different estimate of the fair value of the reporting unit and could result in an impairment of goodwill and/or intangible assets.

Related Party Transactions - The Company extends credit and receives deposits from related parties. In management’s opinion, the loans and deposits were made in the ordinary course of business and made on similar terms as those prevailing at the time with other persons. Related party loans totaled $12 million and $13 million at December 31, 2023 and 2022, respectively. Related party deposits totaled $106 million and $92 million at December 31, 2023 and 2022, respectively. Related parties also own $6 million of the Company’s Series A Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share (“Series A Preferred Stock”) at December 31, 2023.

Stock-Based Compensation - The Company accounts for all stock-based compensation transactions in accordance with Accounting Standard Codification (“ASC”) 718, Compensation - Stock Compensation, which requires that stock compensation transactions be recognized as compensation expense in the consolidated statements of operations based on their fair values on the measurement date. The Company recognizes forfeitures as they occur. New shares are issued upon exercise of an award. The Company records permanent tax differences through the income tax provision upon vesting, expiration or exercise of a stock-based award. The various stock-based compensation plans are described more fully in Note 17: Stock-Based Compensation.

Transfers of Financial Assets - Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (i) the assets have been isolated from the Company and put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership; (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.

Income Taxes - The Company and its subsidiaries file U.S. federal and certain state income tax returns on a consolidated basis. Additionally, the Company and its subsidiaries file separate state income tax returns with various state jurisdictions. The provision for income taxes includes the income tax balances of the Company and all of its subsidiaries.

The Company accounts for income taxes in accordance with ASC 740, Income Taxes. The income tax accounting guidance results in two components of income tax expense: (i) current; and (ii) deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability or balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities and enacted changes in tax rates and laws are recognized in the period in which they occur.

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term, more likely than not, means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized.

The Company recognizes interest and penalties on income taxes as a component of other non-interest expense.

Earnings Per Share - Basic earnings per share represent net income available to common stockholders divided by the weighted average number of common shares outstanding during each period. Diluted earnings per share reflect additional potential shares that would have been outstanding if dilutive potential common stock had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common stock that may be issued by the Company is determined using the treasury stock method.

Derivative Financial Instruments - The Company records all derivatives on the statement of financial condition at fair value in accordance with ASC 815, Derivatives and Hedging. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge.

In accordance with the Financial Accounting Standards Board’s (“FASB”) fair value measurement guidance in ASU 2011-04, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.

Emerging Growth Company (“EGC”) - The Company is currently an EGC. An EGC may take advantage of reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. Among the reductions and reliefs, the Company may elect to extend the transition period for complying with new or revised accounting standards affecting public companies. This means that the financial statements the Company files or furnishes, may not be subject to all new or revised accounting standards generally applicable to public companies for the transition period for so long as the Company remains an EGC or until the Company affirmatively and irrevocably opts out of the extended transition period under the JOBS Act. The Company will lose its EGC status no later than effective December 31, 2024.

Acquisition Activities - The Company accounts for business combinations under the acquisition method of accounting. Assets acquired and liabilities assumed are measured and recorded at fair value at the date of acquisition, including identifiable intangible assets. If the fair value of net assets acquired exceeds the fair value of consideration paid, a bargain purchase gain is recognized at the date of acquisition. Conversely, if the consideration paid exceeds the fair value of the net assets acquired, goodwill is recognized at the acquisition date. Fair values are subject to refinement for up to a maximum of one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Adjustments recorded to the acquired assets and liabilities assumed are applied prospectively in accordance with ASC Topic 805. The determination of the fair value of loans acquired takes into account credit quality deterioration and probability of loss; therefore, the related ACL is not carried forward at the time of acquisition. Identifiable intangible assets are recognized separately if they arise from contractual or other legal rights or if they are separable (i.e., capable of being sold, transferred, licensed, rented, or exchanged separately from the entity). Deposit liabilities and the related depositor relationship intangible assets, known as the core deposit intangible assets, may be exchanged in observable exchange transactions. As a result, the core deposit intangible asset is considered identifiable, because the separability criterion has been met.

Treasury Stock - When the Company acquires treasury stock, the sum of the consideration paid and direct transaction costs after tax is recognized as a deduction from equity. The cost basis for the reissuance of treasury stock is determined using a first-in, first-out basis. To the extent that the reissuance price is more than the cost basis (gain), the excess is recorded as an increase to additional paid-in capital in the consolidated statements of financial condition. If the reissuance price is less than the cost basis (loss), the difference is recorded to additional paid-in capital to the extent there is a cumulative treasury stock paid-in capital balance. Any loss in excess of the cumulative treasury stock paid-in capital balance is charged to retained earnings.

Operating Segments - Management reassessed its operating segments during 2023 based on changes in reporting structure, including the addition of real-time dashboards and dynamic reporting provided to the chief operating decision

maker. The Company operates as one commercial bank entity delivering banking products and services to clients. The Company’s chief operating decision maker manages operations on a company-wide basis, including allocation of resources and financial performance, which constitutes its only operating segment.

Recent Accounting Pronouncements

Accounting pronouncements not yet adopted by the Company

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which requires enhanced disclosures on both an annual and interim basis about significant segment expenses, including for companies with only one reportable segment. This ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which requires updates to rate reconciliation disclosures and information on income taxes paid on an annual basis. This ASU is effective on a prospective basis with retrospective application permitted for annual periods beginning after December 15, 2024. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements and related disclosures.

Accounting pronouncements adopted in the current year by the Company

In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which provides new guidance on (i) troubled debt restructurings (“TDRs”) and (ii) vintage disclosures for gross write-offs. The update eliminates the accounting guidance for TDRs and requires a company to determine if a modification results in a new loan or a continuation of an existing loan. The update enhances the required disclosures for certain modifications made to borrowers experiencing financial difficulty. In addition, the update requires disclosure of current-period gross charge-offs by year of origination for financing receivables. The Company adopted the provisions of this guidance as of January 1, 2023. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. The incremental disclosures of modifications for borrowers experiencing financial difficulty and vintage disclosures for gross write-offs are included within Note 4: Loans and Allowance for Credit Losses.

Goodwill and Core Deposit Intangible - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Aug. 01, 2023	Nov. 22, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Core Deposit Intangible
Goodwill			$ 14,135	$ 12,836
Goodwill impairment			0	0
Intangible amortization expense			$ 3,503	$ 350	$ 78
Core Deposits
Goodwill and Core Deposit Intangible
Estimated useful life of CDI			10 years
Tucson acquisition
Goodwill and Core Deposit Intangible
Goodwill	$ 1,299
Tucson acquisition \| Core Deposits
Goodwill and Core Deposit Intangible
Core deposit intangible ("CDI")	$ 4,500
Colorado/New Mexico Acquisition
Goodwill and Core Deposit Intangible
Goodwill		$ 12,836
Colorado/New Mexico Acquisition \| Core Deposits
Goodwill and Core Deposit Intangible
Core deposit intangible ("CDI")		$ 16,500

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (g)
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Changes in Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

Changes in Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income (Loss)

Note 13: Changes in Accumulated Other Comprehensive Income (Loss)

Amounts reclassified from AOCI and the affected line items in the consolidated statements of operations were as follows:


	For the Year Ended December 31,						Affected Line Item in the
	2023		2022		2021		Statements of Operations

	(Dollars in thousands)
Realized (loss) gain on available-for-sale securities	$	(1,127)	$	96	$	1,023	Other non-interest income
Less: tax (benefit) expense effect		(266)		24		245	Income tax expense
Realized (loss) gain on available-for-sale securities, net of income tax		(861)		72		778
Gain on cash flow hedges		275		—		—	Interest expense - Deposits
Less: tax expense effect		65		—		—	Income tax expense
Gain on cash flow hedges, net of tax		210		—		—
Total reclassified amount	$	(651)	$	72	$	778

Revenue from Contracts with Clients (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contracts with Clients

Schedule of disaggregates the non-interest income


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Non-interest income subject to ASC 606
Service charges and fees on client accounts	$	8,186	$	6,228	$	4,580
ATM and credit card interchange income		5,469		6,523		7,996
International fees		1,504		1,408		1,531
Other fees		323		94		134
Total non-interest income from contracts with clients		15,482		14,253		14,241
Non-interest income not subject to ASC 606
Other non-interest income		5,182		3,028		(581)
Total non-interest income	$	20,664	$	17,281	$	13,660

Disclosure about Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure about Fair Value of Financial Instruments

Schedule of assets and liabilities measured at fair value on a recurring basis


	Fair Value Description	Valuation Hierarchy Level	Where Fair Value Balance Can Be Found
Available-for-sale securities and equity securities	Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows.	Level 2	Note 3: Securities
Derivatives	Fair value of the interest rate swaps is obtained from independent pricing services based on quoted market prices for similar derivative contracts.	Level 2	Note 8: Derivatives

Schedule of fair value measurement of assets measured at fair value on a nonrecurring basis

December 31, 2023

Fair Value Measurements Using

Quoted Prices in

Active Markets for

Significant Other

Unobservable

Identical Assets

Observable Inputs

Inputs

Fair Value

(Level 1)

(Level 2)

(Level 3)

(Dollars in thousands)

Collateral-dependent impaired loans

10,570

—

10,570


			December 31, 2022
			Fair Value Measurements Using
			Quoted Prices in
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)

	(Dollars in thousands)
Collateral-dependent impaired loans	$	8,728	$	—	$	—	$	8,728
Foreclosed assets held-for-sale	$	1,745	$	—	$	—	$	1,745

Schedule of quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements


	December 31, 2023
				Unobservable	Range
	Fair Value		Valuation Techniques	Inputs	(Weighted Average)

	(Dollars in thousands)
Collateral-dependent impaired loans	$	10,570	Appraisal of collateral	Appraisal adjustments⁽¹⁾	0% - 56% (22%)

(1)	Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.


	December 31, 2022
				Unobservable	Range
	Fair Value		Valuation Techniques	Inputs	(Weighted Average)

	(Dollars in thousands)
Collateral-dependent impaired loans	$	8,728	Appraisal of collateral	Appraisal adjustments⁽¹⁾	0% - 100% (13%)

Foreclosed assets held-for-sale	$	1,745	Market comparable properties	Marketability discount	10% (10%)

Schedule of estimated fair values of the financial instruments


	December 31, 2023
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3

	(Dollars in thousands)
Financial Assets
Cash and cash equivalents	$	255,229	$	255,229	$	—	$	—
Available-for-sale securities		766,653		—		766,653		—
Loans, net of allowance for credit losses		6,054,228		—		—		6,036,887
Restricted equity securities		3,950		—		—		3,950
Interest receivable		37,294		—		37,294		—
Equity securities		5,794		—		—		5,794
Derivative assets		7,581		—		7,581		—

Financial Liabilities
Deposits	$	6,491,276	$	990,458	$	—	$	5,547,203
Federal Home Loan Bank advances		77,889		—		72,123		—
Other borrowings		8,950		—		9,891		—
Interest payable		18,529		—		18,529		—
Derivative liabilities		13,594		—		13,594		—


	December 31, 2022
	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3

	(Dollars in thousands)
Financial Assets
Cash and cash equivalents	$	300,138	$	300,138	$	—	$	—
Available-for-sale securities		769,641		—		686,901		—
Loans, net of allowance for credit losses		5,310,954		—		—		5,307,607
Restricted equity securities		12,536		—		—		12,536
Interest receivable		29,507		—		29,507		—
Equity securities		2,870		—		—		2,870
Derivative assets		11,038		—		11,038		—

Financial Liabilities
Deposits	$	5,651,308	$	1,400,260	$	—	$	4,142,673
Federal funds purchased and repurchase agreements		74,968		—		74,968		—
Federal Home Loan Bank advances		143,143		—		135,086		—
Other borrowings		35,547		—		36,529		—
Interest payable		5,713		—		5,713		—
Derivative liabilities		16,442		—		16,442		—

Premises and Equipment - Major Classifications of Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Premises and equipment	$ 108,336	$ 98,441
Less: accumulated depreciation	37,467	32,457
Premises and equipment, net	70,869	65,984
Depreciation expense	4,900	4,700	$ 4,900
Land
Property, Plant and Equipment [Line Items]
Premises and equipment	8,689	7,579
Building and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment	69,320	65,101
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Premises and equipment	15,797	14,523
Equipment
Property, Plant and Equipment [Line Items]
Premises and equipment	13,278	10,066
Construction in progress
Property, Plant and Equipment [Line Items]
Premises and equipment	$ 1,252	$ 1,172

Revenue from Contracts with Clients (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-interest income subject to ASC 606
Total noninterest income from contracts with clients	$ 15,482	$ 14,253	$ 14,241
Non-interest income not subject to ASC 606
Other non-interest income	5,182	3,028	(581)
Total non-interest income	20,664	17,281	13,660
Service charges and fees on client accounts
Non-interest income subject to ASC 606
Total noninterest income from contracts with clients	8,186	6,228	4,580
ATM and credit card interchange income
Non-interest income subject to ASC 606
Total noninterest income from contracts with clients	5,469	6,523	7,996
International fees
Non-interest income subject to ASC 606
Total noninterest income from contracts with clients	1,504	1,408	1,531
Other fees
Non-interest income subject to ASC 606
Total noninterest income from contracts with clients	$ 323	$ 94	$ 134

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Consolidated Statements of Stockholders' Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2023 $ / shares
Statement of Stockholders' Equity [Abstract]
Preferred dividends (per share)	$ 53.33

Stock-Based Compensation - RSUs and RSAs Activity (Details) - Restricted stock units and awards	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	416,980
Granted (in shares) \| shares	333,979
Vested (in shares) \| shares	(243,888)
Forfeited (in shares) \| shares	(50,057)
Ending balance (in shares) \| shares	457,014
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 14.13
Granted (in dollars per share) \| $ / shares	13.20
Vested (in dollars per share) \| $ / shares	13.78
Forfeited (in dollars per share) \| $ / shares	14.28
Ending balance (in dollars per share) \| $ / shares	$ 13.62

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies
Basis of Presentation	The Company’s accounting and reporting policies conform to accounting principles generally accepted in the United States (“GAAP”). The consolidated financial statements include the accounts of the Company, the Bank and its wholly-owned subsidiaries. All significant intercompany accounts and transactions were eliminated in consolidation.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, valuation of deferred tax assets, valuation of goodwill, stock-based compensation, derivatives, and fair values of financial instruments.
Changes Affecting Comparability	For the year ended December 31, 2023, the Company revised the reported loan segments to better reflect how management monitors the portfolio, assesses credit risk and evaluates the ACL. All prior period disclosures have been revised to reflect the changes to the loan segments. The change had no impact on net income.
Cash Equivalents	Cash Equivalents - The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2023, cash equivalents consisted primarily of both interest-bearing and non-interest-bearing accounts with other banks. Approximately $213 million of the Company’s cash and cash equivalents were held at the Federal Reserve Bank of Kansas City at December 31, 2023. The Company is required to maintain reserve funds in cash and/or on deposit with the Federal Reserve Bank. The reserve required at December 31, 2023 was $0. In addition, the Company is required from time to time to place cash collateral with third parties as part of its back-to-back swap agreements and cash flow hedges. At December 31, 2023, $1.0 million of cash collateral was required. At December 31, 2023, the Company’s cash accounts, excluding funds at the Federal Reserve Bank and funds required as cash collateral, exceeded federally insured limits by $21.2 million.
Securities	Securities - Debt securities for which the Company has no immediate plan to sell but which may be sold in the future, are classified as available-for-sale (“AFS”) and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss). Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Gains and losses on the sale of debt securities are recorded on the trade date and are determined using the specific identification method. Equity securities are recorded at fair value with unrealized gains and losses included in earnings. Gains and losses on the sale of equity securities are recorded on the trade date and are determined using the specific identification method. The Company elected a measurement alternative for five private equity investments that did not have a readily determinable fair value and did not qualify for the practical expedient to estimate fair value using the net asset value per share. A cost basis was calculated for the equity investments. The recorded balance will adjust for any impairment or any observable price changes for an identical or similar investment of the same issuer. For AFS securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the securities’ amortized cost basis is written down to fair value through income. For AFS securities that do not meet the criteria above, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. Management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security is compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than amortized cost basis. The Company has elected to exclude accrued interest receivable from investment securities from the credit loss assessment as interest deemed uncollectible is written off through interest income.
Loans	Loans - Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances adjusted for unearned income, charge-offs, the allowance for credit losses, any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well secured and in process of collection. A credit is considered well secured if it is secured by collateral in the form of liens or pledges of real or personal property, including securities, that have a realizable value sufficient to discharge the debt (including accrued interest) in full or is secured by the guaranty of a financially responsible party. A debt is in the process of collection if collection of the debt is proceeding in due course either through legal action, including enforcement procedures, or in appropriate circumstances, through collection efforts not involving legal action which are reasonably expected to result in repayment of the debt or in its restoration to a current status. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged off at an earlier date, if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on non-accrual or charged off are reversed against interest income. The interest on these loans is accounted for on the cash basis or cost recovery method, until qualifying for return to accrual. When payments are received on non-accrual loans, payments are applied to principal unless there is a clear indication that the quality of the loan has improved to the point that it can be placed back on accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Allowance for Credit Losses	Allowance for Credit Losses - The Company adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments, effective January 1, 2022. The Current Expected Credit Loss (“CECL”) model requires an estimate of expected credit losses, measured over the contractual life of an instrument, that considers forecasts of future economic conditions in addition to information about past events and current conditions. The Company uses a loss-rate (“cohort”) method to estimate the expected allowance for credit losses (“ACL”) for all loan pools. The cohort method identifies and captures the balance of a pool of loans with similar risk characteristics, as of a particular point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over their remaining lives, or until the loans are “exhausted” (i.e., have reached an acceptable point in time at which a significant majority of all losses are expected to have been recognized). The Company has elected to exclude accrued interest receivable from the ACL process, because a timely write-off policy exists. Unfunded Loan Commitments In addition to the ACL for funded loans, the Company maintains reserves to cover the risk of loss associated with off-balance sheet unfunded loan commitments. The allowance for off-balance sheet credit losses is maintained within the other liabilities in the statements of financial condition. Under the CECL framework, adjustments to this liability are recorded as provision for credit losses in the statements of operations. Unfunded loan commitment balances are evaluated by loan class and further segregated by revolving and non-revolving commitments. In order to establish the required level of reserve, the Company applies average historical utilization rates and ACL loan model loss rates for each loan class to the outstanding unfunded commitment balances. Refer to Note 4: Loans and Allowance for Credit Losses for additional information regarding the policies, procedures, and credit quality indicators used by the Company.
Premises and Equipment	Premises and Equipment - With the exception of premises and equipment acquired through business combinations, which are initially measured and recorded at fair value, depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are capitalized and depreciated using the straight-line method over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. The Company generally assigns depreciable lives of 35 to 40 years for buildings and improvements, 5 to 7 years for furniture and fixtures and 3 to 5 years for equipment. The Company reviews premises and equipment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. An impairment loss is recognized when the sum of the undiscounted future net cash flows expected to result from the use of the asset and its eventual disposal is less than its carrying amount.
Restricted Equity Securities	Restricted Equity Securities - Restricted equity securities include investments in FHLB Topeka and FHLB Dallas. FHLB Topeka and FHLB Dallas are Federal Home Loan Banks and investment in their stock is required for institutions that are members of the Federal Home Loan System. The required investment in the common stock is based on a predetermined formula.
Bank-Owned Life Insurance	Bank-Owned Life Insurance - The Company has purchased life insurance policies on certain key employees that are accounted for under the fair value method. Bank-owned life insurance is recorded at the amount that can be realized under the insurance contract at the statement of financial condition date, which is the cash surrender value. Changes in cash surrender value are recorded in earnings in the period in which the changes occur.
Foreclosed Assets Held-for-Sale	Foreclosed Assets Held-for-Sale - Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are initially recorded at fair value less estimated costs to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated costs to sell. Revenue and expenses from operations and changes in the valuation allowance are included in the non-interest expense line Foreclosed assets, net.
Goodwill and intangible assets, net	Goodwill and intangible assets, net - Goodwill is established and recorded if the consideration given during an acquisition transaction exceeds the fair value of the net assets received. Goodwill has an indefinite useful life and is not amortized, but is evaluated annually for potential impairment, or when events or circumstances indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. A qualitative assessment is performed to determine whether the existence of events or circumstances led to a determination that it was more likely than not the fair value was less than the carrying amount, including goodwill. If, based on the evaluation, it is determined to be more likely than not that the fair value was less than the carrying value, then goodwill is tested further for impairment. If the implied fair value of goodwill is lower than its carrying amount, a goodwill impairment would be indicated and goodwill written down to its implied fair value. Intangible assets that have finite useful lives, such as core deposit intangibles and servicing assets, are amortized over their estimated useful lives. The Company’s core deposit intangible assets represent the value of the anticipated future cost savings that will result from the acquired core deposit relationships versus an alternative source of funding. Judgment may be used in assessing goodwill and intangible assets for impairment. Estimates of fair value are based on projections of revenues, operating costs and cash flows of the reporting unit considering historical and anticipated future results, general economic and market conditions, as well as the impact of planned business or operational strategies. The valuations use a combination of present value techniques to measure fair value considering market factors. Additionally, judgment is used in determining the useful lives of finite-lived intangible assets. Adverse changes in the economic environment, operations of the reporting unit, or changes in judgments and projections could result in a significantly different estimate of the fair value of the reporting unit and could result in an impairment of goodwill and/or intangible assets.
Related Party Transactions	Related Party Transactions - The Company extends credit and receives deposits from related parties. In management’s opinion, the loans and deposits were made in the ordinary course of business and made on similar terms as those prevailing at the time with other persons. Related party loans totaled $12 million and $13 million at December 31, 2023 and 2022, respectively. Related party deposits totaled $106 million and $92 million at December 31, 2023 and 2022, respectively. Related parties also own $6 million of the Company’s
Stock-Based Compensation	Stock-Based Compensation - The Company accounts for all stock-based compensation transactions in accordance with Accounting Standard Codification (“ASC”) 718, Compensation - Stock Compensation, which requires that stock compensation transactions be recognized as compensation expense in the consolidated statements of operations based on their fair values on the measurement date. The Company recognizes forfeitures as they occur. New shares are issued upon exercise of an award. The Company records permanent tax differences through the income tax provision upon vesting, expiration or exercise of a stock-based award. The various stock-based compensation plans are described more fully in Note 17: Stock-Based Compensation.
Transfers of Financial Assets	Transfers of Financial Assets - Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (i) the assets have been isolated from the Company and put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership; (ii) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.
Income Taxes	Income Taxes - The Company and its subsidiaries file U.S. federal and certain state income tax returns on a consolidated basis. Additionally, the Company and its subsidiaries file separate state income tax returns with various state jurisdictions. The provision for income taxes includes the income tax balances of the Company and all of its subsidiaries. The Company accounts for income taxes in accordance with ASC 740, Income Taxes. The income tax accounting guidance results in two components of income tax expense: (i) current; and (ii) deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability or balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term, more likely than not, means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company recognizes interest and penalties on income taxes as a component of other non-interest expense.
Earnings Per Share	Earnings Per Share - Basic earnings per share represent net income available to common stockholders divided by the weighted average number of common shares outstanding during each period. Diluted earnings per share reflect additional potential shares that would have been outstanding if dilutive potential common stock had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common stock that may be issued by the Company is determined using the treasury stock method.
Derivative Financial Instruments	Derivative Financial Instruments - The Company records all derivatives on the statement of financial condition at fair value in accordance with ASC 815, Derivatives and Hedging. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. In accordance with the Financial Accounting Standards Board’s (“FASB”) fair value measurement guidance in ASU 2011-04, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.
Emerging Growth Company (EGC)	Emerging Growth Company (“EGC”) - The Company is currently an EGC. An EGC may take advantage of reduced reporting requirements and is relieved of certain other significant requirements that are otherwise generally applicable to public companies. Among the reductions and reliefs, the Company may elect to extend the transition period for complying with new or revised accounting standards affecting public companies. This means that the financial statements the Company files or furnishes, may not be subject to all new or revised accounting standards generally applicable to public companies for the transition period for so long as the Company remains an EGC or until the Company affirmatively and irrevocably opts out of the extended transition period under the JOBS Act. The Company will lose its EGC status no later than effective December 31, 2024.
Acquisition Activities	Acquisition Activities - The Company accounts for business combinations under the acquisition method of accounting. Assets acquired and liabilities assumed are measured and recorded at fair value at the date of acquisition, including identifiable intangible assets. If the fair value of net assets acquired exceeds the fair value of consideration paid, a bargain purchase gain is recognized at the date of acquisition. Conversely, if the consideration paid exceeds the fair value of the net assets acquired, goodwill is recognized at the acquisition date. Fair values are subject to refinement for up to a maximum of one year after the closing date of an acquisition as information relative to closing date fair values becomes available. Adjustments recorded to the acquired assets and liabilities assumed are applied prospectively in accordance with ASC Topic 805. The determination of the fair value of loans acquired takes into account credit quality deterioration and probability of loss; therefore, the related ACL is not carried forward at the time of acquisition. Identifiable intangible assets are recognized separately if they arise from contractual or other legal rights or if they are separable (i.e., capable of being sold, transferred, licensed, rented, or exchanged separately from the entity). Deposit liabilities and the related depositor relationship intangible assets, known as the core deposit intangible assets, may be exchanged in observable exchange transactions. As a result, the core deposit intangible asset is considered identifiable, because the separability criterion has been met.
Treasury Stock	Treasury Stock - When the Company acquires treasury stock, the sum of the consideration paid and direct transaction costs after tax is recognized as a deduction from equity. The cost basis for the reissuance of treasury stock is determined using a first-in, first-out basis. To the extent that the reissuance price is more than the cost basis (gain), the excess is recorded as an increase to additional paid-in capital in the consolidated statements of financial condition. If the reissuance price is less than the cost basis (loss), the difference is recorded to additional paid-in capital to the extent there is a cumulative treasury stock paid-in capital balance. Any loss in excess of the cumulative treasury stock paid-in capital balance is charged to retained earnings.
Operating Segments	Operating Segments - Management reassessed its operating segments during 2023 based on changes in reporting structure, including the addition of real-time dashboards and dynamic reporting provided to the chief operating decision maker. The Company operates as one commercial bank entity delivering banking products and services to clients. The Company’s chief operating decision maker manages operations on a company-wide basis, including allocation of resources and financial performance, which constitutes its only operating segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting pronouncements not yet adopted by the Company In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which requires enhanced disclosures on both an annual and interim basis about significant segment expenses, including for companies with only one reportable segment. This ASU is effective on a retrospective basis for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which requires updates to rate reconciliation disclosures and information on income taxes paid on an annual basis. This ASU is effective on a prospective basis with retrospective application permitted for annual periods beginning after December 15, 2024. The Company is evaluating the impact the adoption of this ASU will have on its consolidated financial statements and related disclosures. Accounting pronouncements adopted in the current year by the Company In March 2022, the FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which provides new guidance on (i) troubled debt restructurings (“TDRs”) and (ii) vintage disclosures for gross write-offs. The update eliminates the accounting guidance for TDRs and requires a company to determine if a modification results in a new loan or a continuation of an existing loan. The update enhances the required disclosures for certain modifications made to borrowers experiencing financial difficulty. In addition, the update requires disclosure of current-period gross charge-offs by year of origination for financing receivables. The Company adopted the provisions of this guidance as of January 1, 2023. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. The incremental disclosures of modifications for borrowers experiencing financial difficulty and vintage disclosures for gross write-offs are included within Note 4: Loans and Allowance for Credit Losses.

Parent Company Condensed Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net Income (Loss)	$ 66,669	$ 61,599	$ 69,413
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	5,281	4,417	4,584
Net cash provided by operating activities	99,355	80,353	88,371
Investing Activities
Net cash activity from acquisitions	19,279	125,749
Purchase of premises and equipment	(8,954)	(2,569)	(1,211)
Net cash (used in) provided by investing activities	(658,247)	(619,946)	79,203
Financing Activities
Net (repayments) proceeds of lines of credit	(79,968)	79,968
Proceeds from issuance of preferred shares, net of issuance cost	7,750
Issuance of common shares, net of issuance cost	3	4	3
Open market common share repurchases		(35,780)	(22,286)
Acquisition of common stock for tax withholding obligations	(1,142)	(929)	(860)
Proceeds from employee stock purchase plan	402	364	172
Dividends paid on preferred stock	(413)
Settlement of warrants	(418)
Net decrease in employee receivables		7	34
Net cash provided by (used in) financing activities	513,983	357,004	(93,657)
(Decrease) increase in Cash and Cash Equivalents	(44,909)	(182,589)	73,917
Cash and Cash Equivalents, Beginning of Period	300,138	482,727	408,810
Cash and Cash Equivalents, End of Period	255,229	300,138	482,727
Parent Company
Operating Activities
Net Income (Loss)	66,669	61,599	69,413
Adjustments to reconcile net income to net cash provided by operating activities:
Earnings of consolidated subsidiaries	(50,761)	(30,267)	(71,528)
Stock-based compensation	1,735	1,511	2,332
Other adjustments	293	(256)	(155)
Net cash provided by operating activities	17,936	32,587	62
Investing Activities
Decrease in investment in subsidiaries	(10,250)	(18,000)
Net cash activity from acquisitions	(8,960)
Increase in equity investment	(1,401)	(2,164)	(433)
Purchase of premises and equipment	(519)
Net cash (used in) provided by investing activities	(21,130)	(20,164)	(433)
Financing Activities
Net (repayments) proceeds of lines of credit	(5,000)	5,000
Proceeds from issuance of preferred shares, net of issuance cost	7,750
Issuance of common shares, net of issuance cost	3	4	3
Open market common share repurchases		(35,780)	(22,286)
Acquisition of common stock for tax withholding obligations	(1,142)	(929)	(860)
Proceeds from employee stock purchase plan	402	364	172
Dividends paid on preferred stock	(413)
Settlement of warrants	(418)
Net decrease in employee receivables		7	34
Net cash provided by (used in) financing activities	1,182	(31,334)	(22,937)
(Decrease) increase in Cash and Cash Equivalents	(2,012)	(18,911)	(23,308)
Cash and Cash Equivalents, Beginning of Period	4,457	23,368	46,676
Cash and Cash Equivalents, End of Period	$ 2,445	$ 4,457	$ 23,368

Securities - Amortized Cost and Fair Value by Maturity Date (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized cost
Within one year	$ 5,485	$ 1,076
After one to five years	6,116	6,478
After five to ten years	66,526	121,832
After ten years	751,260	640,255
Amortized Cost	829,387	769,641
Estimated fair value
Within one year	5,497	1,077
After one to five years	6,029	6,634
After five to ten years	64,740	120,528
After ten years	690,387	558,662
Total	$ 766,653	$ 686,901
Weighted average yield
Within one year	5.43%	3.54%
After one to five years	3.75%	4.62%
After five to ten years	3.25%	3.28%
After ten years	3.34%	2.60%
Total	3.35%	2.74%
Federal agency obligations
Amortized cost
After ten years	$ 9,988
Amortized Cost	9,988
Estimated fair value
After ten years	10,072
Total	$ 10,072
Weighted average yield
After ten years	6.41%
Total	6.41%
U.S. Treasury securities
Amortized cost
Within one year	$ 4,965
Amortized Cost	4,965
Estimated fair value
Within one year	4,968
Total	$ 4,968
Weighted average yield
Within one year	5.56%
Total	5.56%
Mortgage-backed - GSE residential
Amortized cost
After one to five years		$ 18
After five to ten years	$ 889	105
After ten years	232,314	197,120
Amortized Cost	233,203	197,243
Estimated fair value
After one to five years		17
After five to ten years	821	101
After ten years	211,641	172,191
Total	$ 212,462	$ 172,309
Weighted average yield
After one to five years		4.77%
After five to ten years	2.24%	4.05%
After ten years	3.16%	2.39%
Total	3.15%	2.39%
Collateralized mortgage obligations - GSE residential
Amortized cost
After one to five years	$ 2,237
After five to ten years		$ 2,344
After ten years	47,888	9,285
Amortized Cost	50,125	11,629
Estimated fair value
After one to five years	2,153
After five to ten years		2,229
After ten years	47,791	8,657
Total	$ 49,944	$ 10,886
Weighted average yield
After one to five years	2.78%
After five to ten years		2.77%
After ten years	5.23%	2.25%
Total	5.12%	2.36%
State and political subdivisions
Amortized cost
Within one year	$ 520	$ 1,076
After one to five years	3,727	6,310
After five to ten years	55,956	109,771
After ten years	336,146	433,850
Amortized Cost	396,349	551,007
Estimated fair value
Within one year	529	1,077
After one to five years	3,726	6,471
After five to ten years	55,446	109,134
After ten years	296,196	377,814
Total	$ 355,897	$ 494,496
Weighted average yield
Within one year	4.22%	3.54%
After one to five years	4.31%	4.60%
After five to ten years	2.85%	3.08%
After ten years	2.54%	2.70%
Total	2.61%	2.80%
Small Business Administration loan pools
Amortized cost
After one to five years	$ 9
After five to ten years	84
After ten years	124,924
Amortized Cost	125,017
Estimated fair value
After one to five years	10
After five to ten years	81
After ten years	124,687
Total	$ 124,778
Weighted average yield
After one to five years	4.90%
After five to ten years	4.10%
After ten years	4.87%
Total	4.87%
Corporate bonds
Amortized cost
After one to five years	$ 143	$ 150
After five to ten years	9,597	9,612
Amortized Cost	9,740	9,762
Estimated fair value
After one to five years	140	146
After five to ten years	8,392	9,064
Total	$ 8,532	$ 9,210
Weighted average yield
After one to five years	4.15%	5.43%
After five to ten years	5.70%	5.70%
Total	5.68%	5.70%

Stock Warrants - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stock Warrants
Warrants outstanding (in shares)	0	80,000
Strike price (in dollars per share)		$ 5.00
Number of warrants exercised	80,000
Warrants exercised, cash settled	$ 418

Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Available-for-sale debt securities
Amortized Cost	$ 829,387	$ 769,641
Gross Unrealized Gains	2,428	1,161
Gross Unrealized Losses	65,162	83,901
Approximate Fair Value	766,653	686,901
Federal agency obligations
Available-for-sale debt securities
Amortized Cost	9,988
Gross Unrealized Gains	84
Approximate Fair Value	10,072
U.S. Treasury securities
Available-for-sale debt securities
Amortized Cost	4,965
Gross Unrealized Gains	3
Approximate Fair Value	4,968
Mortgage-backed - GSE residential
Available-for-sale debt securities
Amortized Cost	233,203	197,243
Gross Unrealized Gains	629	232
Gross Unrealized Losses	21,370	25,166
Approximate Fair Value	212,462	172,309
Collateralized mortgage obligations - GSE residential
Available-for-sale debt securities
Amortized Cost	50,125	11,629
Gross Unrealized Gains	493
Gross Unrealized Losses	674	743
Approximate Fair Value	49,944	10,886
State and political subdivisions
Available-for-sale debt securities
Amortized Cost	396,349	551,007
Gross Unrealized Gains	497	929
Gross Unrealized Losses	40,949	57,440
Approximate Fair Value	355,897	494,496
Small Business Administration loan pools
Available-for-sale debt securities
Amortized Cost	125,017
Gross Unrealized Gains	722
Gross Unrealized Losses	961
Approximate Fair Value	124,778
Corporate bonds
Available-for-sale debt securities
Amortized Cost	9,740	9,762
Gross Unrealized Losses	1,208	552
Approximate Fair Value	$ 8,532	$ 9,210

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Taxes

Income Taxes

Note 12: Income Taxes

The provision for income taxes includes these components:


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Current tax expense	$	19,526	$	17,943	$	14,892
Deferred income tax (benefit) expense		(2,086)		(1,970)		2,664
Income tax expense	$	17,440	$	15,973	$	17,556

An income tax reconciliation at the statutory rate to the Company’s actual income tax expense is shown below:


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Computed at the statutory rate (21%)	$	17,663	$	16,290	$	18,263
Increase (decrease) resulting from
Tax-exempt income		(3,255)		(3,546)		(3,672)
Non-deductible expenses		421		689		232
State income taxes, net of federal benefits		2,473		2,785		3,030
Stock-based compensation		84		(190)		(172)
Other adjustments		54		(55)		(125)
Income tax expense	$	17,440	$	15,973	$	17,556

The tax effects of temporary differences related to deferred taxes shown on the consolidated statements of financial condition within other assets are presented below:


	As of December 31,
	2023		2022

	(Dollars in thousands)
Deferred tax assets
Net unrealized loss on securities available-for-sale	$	15,456	$	20,295
Allowance for credit losses		18,470		16,710
Lease liability		7,930		8,056
Loan fees		3,701		4,048
Accrued expenses		3,397		3,379
Deferred compensation		2,334		2,166
Other		2,818		1,094
Total deferred tax asset		54,106		55,748
Deferred tax liability
FHLB stock basis		(107)		(436)
Premises and equipment		(2,565)		(2,042)
Right-of-use asset		(7,023)		(7,230)
Other		(950)		(1,018)
Total deferred tax liability		(10,645)		(10,726)
Net deferred tax asset	$	43,461	$	45,022

The Company has approximately $5.9 million of federal net operating loss carry-forwards, which begin to expire if not used by 2028 and the annual deduction of these loss carryforwards is subject to various IRC section 382 limitations. The Company fully expects to utilize the net operating loss carryforwards before they expire.

The Company files a consolidated federal income tax return and also files income tax returns in various states. All federal and state tax returns after 2019 remain open to examination by applicable tax authorities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Securities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Securities - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest	$ 6,000	$ 7,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable	Interest Receivable
Restricted equity securities	$ 12,536	$ 3,950
Private Equity Funds
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities		5,800
Private Equity Security
Debt and Equity Securities, FV-NI [Line Items]
Equity securities received for satisfaction of debt			$ 11,000
Proceeds from sale of securities	5,000
Realized loss	6,000
Collateralized Debt Obligations \| Asset Pledged as Collateral
Debt and Equity Securities, FV-NI [Line Items]
Securities pledged as collateral	$ 22,000	$ 40,000

Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivatives and Hedging Activities

Schedule of Derivative Instruments


	Asset Derivatives					Liability Derivatives
	Statement of					Statement of
	Financial					Financial
	Condition	As of December 31,				Condition	As of December 31,
	Location	2023		2022		Location	2023		2022

	(Dollars in thousands)
Interest rate products:
Derivatives designated as hedging instruments	Other assets and Interest receivable	$	101	$	—	Interest payable and other liabilities	$	5,992	$	5,403
Derivatives not designated as hedging instruments	Other assets and Interest receivable	$	7,830	$	11,038	Interest payable and other liabilities	$	7,837	$	11,039
Total		$	7,931	$	11,038		$	13,829	$	16,442

Schedule of Cash Flow Hedge on Accumulated Other Comprehensive Income

December 31, 2023

Location of

Gain or

Gain or (Loss)

(Loss)

Recognized

Gain or

Reclassified

from

Gain or

(Loss)

from

Accumulated

Gain or

(Loss)

Reclassified

Accumulated

Other

(Loss)

Recognized

from

OCI into

Comprehensive

Recognized

in OCI

Accumulated

Earnings

Income into

in OCI on

Included

Excluded

OCI into

Included

Excluded

Earnings

Derivative

Component

Earnings

Component

(Dollars in thousands)

Derivatives in Cash Flow Hedging Relationships

Interest Rate Products

Interest Income

(589)

—

Interest Rate Products

Interest Expense

209

—

275

—

Total

(380)

—

275

—

December 31, 2022

Location of

Gain or

Gain or (Loss)

(Loss)

Recognized

Gain or

Reclassified

from

Gain or

(Loss)

from

Accumulated

Gain or

(Loss)

Reclassified

Accumulated

Other

(Loss)

Recognized

from

OCI into

Comprehensive

Recognized

in OCI

Accumulated

Earnings

Income into

in OCI on

Included

Excluded

OCI into

Included

Excluded

Earnings

Derivative

Component

Earnings

Component

(Dollars in thousands)

Derivatives in Cash Flow Hedging Relationships

Interest Rate Products

Interest Income

(5,403)

—

Interest Rate Products - terminated

Interest Expense

3,852

—

Total

(1,551)

—

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Securities - Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Securities
Net gains (losses) recognized during the reporting period on equity securities	$ 132	$ (181)	$ (6,325)
Less: net gains (losses) recognized during the period on equity securities sold during the period	93	$ (181)	(6,245)
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$ 39		$ (80)

Loans and Allowance for Credit Losses - Non-Accrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	$ 1,005,445	$ 1,502,872
Fiscal Year Before Latest Fiscal Year	1,322,974	980,869
Two Years Before Latest Fiscal Year	678,928	457,711
Three Years Before Latest Fiscal Year	404,847	253,347
Four Years Before Latest Fiscal Year	212,136	177,797
Five Or More Years Before Latest Fiscal Year	173,803	156,029
Revolving Loans	2,071,645	1,664,787
Revolving Loans Converted to Term Loans	257,912	179,317
Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Fiscal Year Before Latest Fiscal Year	746	2,583
Two Years Before Latest Fiscal Year	6,499
Three Years Before Latest Fiscal Year	1,722	6
Four Years Before Latest Fiscal Year		1,383
Five Or More Years Before Latest Fiscal Year		12
Revolving Loans	9,127	7,097
Revolving Loans Converted to Term Loans	357	191
Total non-accrual loans	18,451	11,272
Nonaccrual Loans with no related Allowance	8,600	11,272
Commercial and industrial
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	394,457	468,784
Fiscal Year Before Latest Fiscal Year	260,984	305,002
Two Years Before Latest Fiscal Year	204,669	72,154
Three Years Before Latest Fiscal Year	57,837	54,732
Four Years Before Latest Fiscal Year	40,820	55,665
Five Or More Years Before Latest Fiscal Year	19,642	21,045
Revolving Loans	1,108,604	957,254
Revolving Loans Converted to Term Loans	73,199	40,296
Commercial and industrial \| Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Fiscal Year Before Latest Fiscal Year		104
Two Years Before Latest Fiscal Year	266
Three Years Before Latest Fiscal Year	24	6
Four Years Before Latest Fiscal Year		1,383
Five Or More Years Before Latest Fiscal Year		12
Revolving Loans	8,839	6,479
Revolving Loans Converted to Term Loans	178
Total non-accrual loans	9,307	7,984
Nonaccrual Loans with no related Allowance	6,198	7,984
Energy
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	4,581	7,585
Fiscal Year Before Latest Fiscal Year	6,868	306
Two Years Before Latest Fiscal Year		228
Three Years Before Latest Fiscal Year	156
Revolving Loans	202,506	164,928
Revolving Loans Converted to Term Loans	107	171
Energy \| Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Revolving Loans	288	618
Total non-accrual loans	288	618
Nonaccrual Loans with no related Allowance	288	618
Commercial real estate - owner-occupied
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	69,308	96,987
Fiscal Year Before Latest Fiscal Year	98,946	134,092
Two Years Before Latest Fiscal Year	128,410	57,462
Three Years Before Latest Fiscal Year	65,454	50,950
Four Years Before Latest Fiscal Year	51,555	28,241
Five Or More Years Before Latest Fiscal Year	37,431	24,080
Revolving Loans	76,782	28,814
Revolving Loans Converted to Term Loans	38,367	16,493
Commercial real estate - owner-occupied \| Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Two Years Before Latest Fiscal Year	204
Total non-accrual loans	204
Nonaccrual Loans with no related Allowance	204
Commercial real estate - non-owner-occupied
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	487,579	843,896
Fiscal Year Before Latest Fiscal Year	862,407	452,692
Two Years Before Latest Fiscal Year	258,161	200,811
Three Years Before Latest Fiscal Year	167,169	101,909
Four Years Before Latest Fiscal Year	82,748	56,354
Five Or More Years Before Latest Fiscal Year	54,412	76,046
Revolving Loans	626,998	460,726
Revolving Loans Converted to Term Loans	146,060	122,166
Commercial real estate - non-owner-occupied \| Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Fiscal Year Before Latest Fiscal Year	713	2,479
Two Years Before Latest Fiscal Year	6,029
Three Years Before Latest Fiscal Year	1,698
Total non-accrual loans	8,440	2,479
Nonaccrual Loans with no related Allowance	1,698	2,479
Residential real estate
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	37,929	77,703
Fiscal Year Before Latest Fiscal Year	87,732	87,430
Two Years Before Latest Fiscal Year	87,226	124,413
Three Years Before Latest Fiscal Year	114,154	45,491
Four Years Before Latest Fiscal Year	36,792	37,395
Five Or More Years Before Latest Fiscal Year	62,288	34,852
Revolving Loans	37,795	31,892
Revolving Loans Converted to Term Loans	179	191
Residential real estate \| Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Revolving Loans Converted to Term Loans	179	191
Total non-accrual loans	179	191
Nonaccrual Loans with no related Allowance	179	191
Consumer
Financing Receivable, Nonaccrual [Line Items]
Current Fiscal Year	11,591	7,917
Fiscal Year Before Latest Fiscal Year	6,037	1,347
Two Years Before Latest Fiscal Year	462	2,643
Three Years Before Latest Fiscal Year	77	265
Four Years Before Latest Fiscal Year	221	142
Five Or More Years Before Latest Fiscal Year	30	6
Revolving Loans	18,960	$ 21,173
Consumer \| Non-accrual
Financing Receivable, Nonaccrual [Line Items]
Fiscal Year Before Latest Fiscal Year	33
Total non-accrual loans	33
Nonaccrual Loans with no related Allowance	$ 33

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases

Schedule of components of operating lease expense


	Year Ended December 31,		Year Ended December 31,
	2023		2022
	(Dollars in thousands)		(Dollars in thousands)
Finance lease amortization of right-of-use asset	$	284	$	231
Finance leases interest on lease liability		271		185
Operating lease expense		2,933		2,577
Variable lease expense		1,816		1,222
Short-term lease expense		15		20
Total lease expense	$	5,319	$	4,235

Schedule of future minimum lease payments under operating lease


	Operating Leases		Finance Lease

	(Dollars in thousands)
2024	$	3,657	$	490
2025		3,806		490
2026		3,852		490
2027		3,847		528
2028		3,427		540
Thereafter		10,750		7,704
Total lease payments		29,339		10,242
Less: imputed interest		2,928		2,842
Total	$	26,411	$	7,400

Schedule of future minimum lease payments under finance lease


	Operating Leases		Finance Lease

	(Dollars in thousands)
2024	$	3,657	$	490
2025		3,806		490
2026		3,852		490
2027		3,847		528
2028		3,427		540
Thereafter		10,750		7,704
Total lease payments		29,339		10,242
Less: imputed interest		2,928		2,842
Total	$	26,411	$	7,400

Stock-Based Compensation - SSARs Assumptions (Details) - Stock Appreciation Rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assumptions:
Expected volatility	42.76%
Expected volatility, minimum		44.10%	42.93%
Expected volatility, maximum		45.41%	43.29%
Expected dividends	0.00%	0.00%	0.00%
Expected term (in years)	7 years
Risk-free rate	4.71%
Risk-free rate, minimum		2.80%	0.94%
Risk-free rate, maximum		3.62%	1.36%
Weighted average grant date fair value per share	$ 5.58	$ 6.86	$ 6.50
Aggregate intrinsic value of SSARs exercised	$ 1,007	$ 1,578	$ 1,297
Total fair value of SSARs vested during the year	279	484	1,087
Unrecognized compensation information:
Unrecognized compensation cost	$ 622	$ 795	$ 1,249
Period remaining (in years)	4 years 4 months 24 days	4 years 8 months 12 days	4 years 1 month 6 days
Minimum
Assumptions:
Expected term (in years)		7 years	7 years
Maximum
Assumptions:
Expected term (in years)		7 years 3 days	7 years 3 days

Loans and Allowance for Credit Losses - Loans, Collateral Dependent Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans	$ 18,419	$ 8,728
Related Allowance for Credit Losses	1,963	22
Amortized Cost of Collateral Dependent Loans with no related Allowance	8,567	8,689
Commercial And Industrial [Member]
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans	9,308	7,981
Related Allowance for Credit Losses	1,392
Amortized Cost of Collateral Dependent Loans with no related Allowance	6,198	7,981
Energy
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans	288	618
Amortized Cost of Collateral Dependent Loans with no related Allowance	288	618
Commercial real estate - owner-occupied
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans	204
Amortized Cost of Collateral Dependent Loans with no related Allowance	204
Commercial real estate - non-owner-occupied
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans	8,440	92
Related Allowance for Credit Losses	571
Amortized Cost of Collateral Dependent Loans with no related Allowance	1,698	92
Residential real estate
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans	179
Amortized Cost of Collateral Dependent Loans with no related Allowance	$ 179
Consumer
Financing Receivable, Impaired [Line Items]
Amortized Cost of Collateral Dependent Loans		39
Related Allowance for Credit Losses		$ 22

Leases - Future minimum lease payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Future minimum lease payments under operating leases
2024	$ 3,657
2025	3,806
2026	3,852
2027	3,847
2028	3,427
Thereafter	10,750
Total lease payments	29,339
Less imputed interest	2,928
Total	$ 26,411
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Interest Payable And Other Liabilities
Future minimum lease payments under finance leases
2024	$ 490
2025	490
2026	490
2027	528
2028	540
Thereafter	7,704
Total lease payments	10,242
Less imputed interest	2,842
Total	$ 7,400
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Interest Payable And Other Liabilities

Commitments and Credit Risk - Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Total commitments	$ 2,146,429	$ 2,912,871
Commitments to originate loans
Loss Contingencies [Line Items]
Total commitments	59,728	134,961
Standby letters of credit
Loss Contingencies [Line Items]
Total commitments	74,139	66,889
Line of credit
Loss Contingencies [Line Items]
Total commitments	2,008,356	2,705,730
Future lease commitments
Loss Contingencies [Line Items]
Total commitments		1,888
Commitment related to investment fund
Loss Contingencies [Line Items]
Total commitments	$ 4,206	$ 3,403

Acquisition Activities - Narratives (Details) - USD ($) $ in Thousands			12 Months Ended
	Aug. 01, 2023	Nov. 22, 2022	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Day 1 CECL provision expense			$ 900	$ 4,595
Goodwill			14,135	12,836
Tucson acquisition
Business Acquisition [Line Items]
Cash consideration	$ 9,087
Acquisition - purchase accounting (in shares)	597,645
Acquisition-related costs			3,600
Day 1 CECL provision expense			900
Goodwill	$ 1,299
Loans, net of unearned fees	105,668
Purchase price of PCD loans	$ 26,000
Percentage of loan portfolio	25.00%
PDC loans with guarantees on a portion of their balance	$ 24,100
Tucson acquisition \| Core Deposits
Business Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	10 years
Colorado/New Mexico Acquisition
Business Acquisition [Line Items]
Cash consideration		$ 66,167
Acquisition-related costs			$ 1,700	8,300
Day 1 CECL provision expense		4,400		$ 4,400
Goodwill		12,836
Loans, net of unearned fees		388,531
Purchase price of PCD loans		$ 20,500
Percentage of loan portfolio		5.00%
Colorado/New Mexico Acquisition \| Core Deposits
Business Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life		10 years

Loans and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Loans and Allowance for Credit Losses

Schedule of Category of Loans


	As of December 31,
	2023				2022
	Amount		% of Loans		Amount		% of Loans

	(Dollars in thousands)
Commercial and industrial	$	2,160,212	35	%	$	1,974,932	37	%
Energy		214,218	3			173,218	3
Commercial real estate - owner-occupied		566,253	9			437,119	8
Commercial real estate - non-owner-occupied		2,685,534	44			2,314,600	43
Residential real estate		464,095	8			439,367	8
Consumer		37,378	1			33,493	1
Loans, net of unearned fees		6,127,690	100	%		5,372,729	100	%
Less: Allowance for credit losses on loans		(73,462)				(61,775)
Loans, net of the allowance for credit losses on loans	$	6,054,228			$	5,310,954

Schedule of Loan Portfolio Internal Rating Categories Loan Segments


	As of December 31, 2023
	Amortized Cost Basis by Origination Year and Internal Risk Rating												Amortized Cost Basis
	2023		2022		2021		2020		2019		2018 and Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total

	(Dollars in thousands)
Commercial and industrial
Pass	$	379,360	$	258,182	$	193,302	$	54,901	$	38,762	$	18,801	$	1,061,365	$	53,015	$	2,057,688
Special mention		2,442		925		6,000		2,674		1,460		26		9,748		3,175		26,450
Substandard - accrual		12,655		1,877		5,101		238		598		815		28,652		16,831		66,767
Substandard - non-accrual		—		—		266		24		—		—		6,848		178		7,316
Doubtful		—		—		—		—		—		—		1,991		—		1,991
Loss		—		—		—		—		—		—		—		—		—
Total	$	394,457	$	260,984	$	204,669	$	57,837	$	40,820	$	19,642	$	1,108,604	$	73,199	$	2,160,212
Energy
Pass	$	4,581	$	6,868	$	—	$	156	$	—	$	—	$	202,218	$	107	$	213,930
Special mention		—		—		—		—		—		—		—		—		—
Substandard - accrual		—		—		—		—		—		—		—		—		—
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		288		—		288
Loss		—		—		—		—		—		—		—		—		—
Total	$	4,581	$	6,868	$	-	$	156	$	-	$	-	$	202,506	$	107	$	214,218
Commercial real estate - owner occupied
Pass	$	56,236	$	92,148	$	119,684	$	62,072	$	49,992	$	32,936	$	76,782	$	36,263	$	526,113
Special mention		10,095		6,798		8,522		1,747		793		2,448		—		576		30,979
Substandard - accrual		2,977		—		—		1,635		770		2,047		—		1,528		8,957
Substandard - non-accrual		—		—		204		—		—		—		—		—		204
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	69,308	$	98,946	$	128,410	$	65,454	$	51,555	$	37,431	$	76,782	$	38,367	$	566,253
Commercial real estate - non-owner occupied
Pass	$	477,238	$	842,755	$	242,405	$	161,845	$	65,540	$	50,062	$	626,998	$	145,621	$	2,612,464
Special mention		—		18,939		7,331		-		17,208		4,052		—		—		47,530
Substandard - accrual		10,341		—		2,396		3,626		—		298		—		439		17,100
Substandard - non-accrual		—		713		6,029		1,698		—		—		—		—		8,440
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	487,579	$	862,407	$	258,161	$	167,169	$	82,748	$	54,412	$	626,998	$	146,060	$	2,685,534
Residential real estate
Pass	$	37,676	$	86,919	$	82,390	$	110,853	$	36,589	$	62,288	$	37,619	$	—	$	454,334
Special mention		—		813		3,519		176		—		—		—		—		4,508
Substandard - accrual		253		—		1,317		3,125		203		—		176		—		5,074
Substandard - non-accrual		—		—		—		—		—		—		—		179		179
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	37,929	$	87,732	$	87,226	$	114,154	$	36,792	$	62,288	$	37,795	$	179	$	464,095
Consumer
Pass	$	11,591	$	6,004	$	462	$	54	$	221	$	25	$	18,960	$	—	$	37,317
Special mention		—		—		—		—		—		5		—		—		5
Substandard - accrual		—		—		—		23		—		—		—		—		23
Substandard - non-accrual		—		33		—		—		—		—		—		—		33
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	11,591	$	6,037	$	462	$	77	$	221	$	30	$	18,960	$	-	$	37,378
Total
Pass	$	966,682	$	1,292,876	$	638,243	$	389,881	$	191,104	$	164,112	$	2,023,942	$	235,006	$	5,901,846
Special mention		12,537		27,475		25,372		4,597		19,461		6,531		9,748		3,751		109,472
Substandard - accrual		26,226		1,877		8,814		8,647		1,571		3,160		28,828		18,798		97,921
Substandard - non-accrual		—		746		6,499		1,722		—		—		6,848		357		16,172
Doubtful		—		—		—		—		—		—		2,279		—		2,279
Loss		—		—		—		—		—		—		—		—		—
Total	$	1,005,445	$	1,322,974	$	678,928	$	404,847	$	212,136	$	173,803	$	2,071,645	$	257,912	$	6,127,690


	As of December 31, 2022
	Amortized Cost Basis by Origination Year and Internal Risk Rating												Amortized Cost Basis
	2022		2021		2020		2019		2018		2017 and Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total

	(Dollars in thousands)
Commercial and industrial
Pass	$	465,963	$	281,166	$	55,934	$	50,445	$	48,595	$	20,648	$	890,109	$	19,089	$	1,831,949
Special mention		2,531		23,055		14,573		2,951		4,947		86		49,861		41		98,045
Substandard - accrual		290		677		1,647		1,330		740		299		10,805		21,166		36,954
Substandard - non-accrual		—		104		—		6		1,383		—		6,479		—		7,972
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		12		—		—		12
Total	$	468,784	$	305,002	$	72,154	$	54,732	$	55,665	$	21,045	$	957,254	$	40,296	$	1,974,932
Energy
Pass	$	7,585	$	306	$	228	$	—	$	—	$	—	$	162,834	$	171	$	171,124
Special mention		—		—		—		—		—		—		—		—		—
Substandard - accrual		—		—		—		—		—		—		1,476		—		1,476
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		618		—		618
Loss		—		—		—		—		—		—		—		—		—
Total	$	7,585	$	306	$	228	$	—	$	—	$	—	$	164,928	$	171	$	173,218
Commercial real estate - owner occupied
Pass	$	79,695	$	127,489	$	56,607	$	49,620	$	28,143	$	20,299	$	28,814	$	14,024	$	404,691
Special mention		17,292		6,603		452		1,330		98		2,486		—		2,469		30,730
Substandard - accrual		—		—		403		—		—		1,295		—		—		1,698
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	96,987	$	134,092	$	57,462	$	50,950	$	28,241	$	24,080	$	28,814	$	16,493	$	437,119
Commercial real estate - non-owner occupied
Pass	$	827,420	$	442,176	$	200,090	$	101,827	$	49,834	$	73,940	$	458,297	$	111,322	$	2,264,906
Special mention		5,931		7,727		114		—		6,460		1,853		2,429		9,852		34,366
Substandard - accrual		10,545		310		607		82		60		253		—		992		12,849
Substandard - non-accrual		—		2,479		—		—		—		—		—		—		2,479
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	843,896	$	452,692	$	200,811	$	101,909	$	56,354	$	76,046	$	460,726	$	122,166	$	2,314,600
Residential real estate
Pass	$	77,416	$	84,158	$	121,078	$	45,265	$	37,395	$	34,852	$	31,892	$	—	$	432,056
Special mention		253		3,272		187		226		—		—		—		—		3,938
Substandard - accrual		34		—		3,148		—		—		—		—		—		3,182
Substandard - non-accrual		—		—		—		—		—		—		—		191		191
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	77,703	$	87,430	$	124,413	$	45,491	$	37,395	$	34,852	$	31,892	$	191	$	439,367
Consumer
Pass	$	7,917	$	1,347	$	2,611	$	265	$	129	$	6	$	21,173	$	—	$	33,448
Special mention		—		—		—		—		8		—		—		—		8
Substandard - accrual		—		—		32		—		5		—		—		—		37
Substandard - non-accrual		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—
Total	$	7,917	$	1,347	$	2,643	$	265	$	142	$	6	$	21,173	$	—	$	33,493
Total
Pass	$	1,465,996	$	936,642	$	436,548	$	247,422	$	164,096	$	149,745	$	1,593,119	$	144,606	$	5,138,174
Special mention		26,007		40,657		15,326		4,507		11,513		4,425		52,290		12,362		167,087
Substandard - accrual		10,869		987		5,837		1,412		805		1,847		12,281		22,158		56,196
Substandard - non-accrual		—		2,583		—		6		1,383		—		6,479		191		10,642
Doubtful		—		—		—		—		—		—		618		—		618
Loss		—		—		—		—		—		12		—		—		12
Total	$	1,502,872	$	980,869	$	457,711	$	253,347	$	177,797	$	156,029	$	1,664,787	$	179,317	$	5,372,729

Schedule of Loan Aging Analysis


	As of December 31, 2023
	Amortized Cost Basis by Origination Year and Past Due Status												Amortized Cost Basis
															Revolving loans
											2018 and				converted to
	2023		2022		2021		2020		2019		Prior		Revolving loans		term loans		Total

	(Dollars in thousands)
Commercial and industrial
30-59 days	$	250	$	178	$	-	$	81	$	-	$	136	$	158	$	151	$	954
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		30		28		347		24		199		-		10,800		2,376		13,804
Total past due		280		206		347		105		199		136		10,958		2,527		14,758
Current		394,177		260,778		204,322		57,732		40,621		19,506		1,097,646		70,672		2,145,454
Total	$	394,457	$	260,984	$	204,669	$	57,837	$	40,820	$	19,642	$	1,108,604	$	73,199	$	2,160,212
Greater than 90 days and accruing	$	30	$	28	$	81	$	-	$	199	$	-	$	2,000	$	2,199	$	4,537
Energy
30-59 days	$	-	$	-	$	-	$	-	$	-	$	-	$	30	$	-	$	30
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		-		-		-		-		-		288		-		288
Total past due		-		-		-		-		-		-		318		-		318
Current		4,581		6,868		-		156		-		-		202,188		107		213,900
Total	$	4,581	$	6,868	$	-	$	156	$	-	$	-	$	202,506	$	107	$	214,218
Greater than 90 days and accruing	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Commercial real estate - owner occupied
30-59 days	$	-	$	-	$	-	$	371	$	-	$	71	$	-	$	-	$	442
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		-		204		-		-		-		-		-		204
Total past due		-		-		204		371		-		71		-		-		646
Current		69,308		98,946		128,206		65,083		51,555		37,360		76,782		38,367		565,607
Total	$	69,308	$	98,946	$	128,410	$	65,454	$	51,555	$	37,431	$	76,782	$	38,367	$	566,253
Greater than 90 days and accruing	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Commercial real estate - non-owner occupied
30-59 days	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		713		6,029		1,698		-		307		-		-		8,747
Total past due		-		713		6,029		1,698		-		307		-		-		8,747
Current		487,579		861,694		252,132		165,471		82,748		54,105		626,998		146,060		2,676,787
Total	$	487,579	$	862,407	$	258,161	$	167,169	$	82,748	$	54,412	$	626,998	$	146,060	$	2,685,534
Greater than 90 days and accruing	$	-	$	-	$	-	$	-	$	-	$	307	$	-	$	-	$	307
Residential real estate
30-59 days	$	-	$	6	$	-	$	137	$	-	$	-	$	-	$	-	$	143
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		-		1,317		-		-		-		176		-		1,493
Total past due		-		6		1,317		137		-		-		176		-		1,636
Current		37,929		87,726		85,909		114,017		36,792		62,288		37,619		179		462,459
Total	$	37,929	$	87,732	$	87,226	$	114,154	$	36,792	$	62,288	$	37,795	$	179	$	464,095
Greater than 90 days and accruing	$	-	$	-	$	1,317	$	-	$	-	$	-	$	176	$	-	$	1,493
Consumer
30-59 days	$	-	$	219	$	40	$	-	$	-	$	-	$	200	$	-	$	459
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		-		35		-		-		-		-		-		-		35
Total past due		-		254		40		-		-		-		200		-		494
Current		11,591		5,783		422		77		221		30		18,760		-		36,884
Total	$	11,591	$	6,037	$	462	$	77	$	221	$	30	$	18,960	$	-	$	37,378
Greater than 90 days and accruing	$	-	$	2	$	-	$	-	$	-	$	-	$	-	$	-	$	2
Total
30-59 days	$	250	$	403	$	40	$	589	$	-	$	207	$	388	$	151	$	2,028
60-89 days		-		-		-		-		-		-		-		-		-
Greater than 90 days		30		776		7,897		1,722		199		307		11,264		2,376		24,571
Total past due		280		1,179		7,937		2,311		199		514		11,652		2,527		26,599
Current		1,005,165		1,321,795		670,991		402,536		211,937		173,289		2,059,993		255,385		6,101,091
Total	$	1,005,445	$	1,322,974	$	678,928	$	404,847	$	212,136	$	173,803	$	2,071,645	$	257,912	$	6,127,690
Greater than 90 days and accruing	$	30	$	30	$	1,398	$	-	$	199	$	307	$	2,176	$	2,199	$	6,339


	As of December 31, 2022
	Amortized Cost Basis by Origination Year and Past Due Status												Amortized Cost Basis
															Revolving loans
											2017 and				converted to
	2022		2021		2020		2019		2018		Prior		Revolving loans		term loans		Total

	(Dollars in thousands)
Commercial and industrial
30-59 days	$	20	$	4,784	$	—	$	—	$	—	$	1,049	$	2,814	$	—	$	8,667
60-89 days		—		55		—		—		—		—		980		430		1,465
Greater than 90 days		—		143		7		6		1,383		12		7,063		—		8,614
Total past due		20		4,982		7		6		1,383		1,061		10,857		430		18,746
Current		468,764		300,020		72,147		54,726		54,282		19,984		946,397		39,866		1,956,186
Total	$	468,784	$	305,002	$	72,154	$	54,732	$	55,665	$	21,045	$	957,254	$	40,296	$	1,974,932
Greater than 90 days and accruing	$	—	$	39	$	7	$	—	$	—	$	—	$	584	$	—	$	630
Energy
30-59 days	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		—		—		—		—		—		618		—		618
Total past due		—		—		—		—		—		—		618		—		618
Current		7,585		306		228		—		—		—		164,310		171		172,600
Total	$	7,585	$	306	$	228	$	—	$	—	$	—	$	164,928	$	171	$	173,218
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - owner occupied
30-59 days	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		—		—		—		—		—		—		—		—
Total past due		—		—		—		—		—		—		—		—		—
Current		96,987		134,092		57,462		50,950		28,241		24,080		28,814		16,493		437,119
Total	$	96,987	$	134,092	$	57,462	$	50,950	$	28,241	$	24,080	$	28,814	$	16,493	$	437,119
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - non-owner occupied
30-59 days	$	4,293	$	—	$	—	$	1,180	$	—	$	—	$	—	$	—	$	5,473
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		—		—		—		—		—		—		—		—
Total past due		4,293		—		—		1,180		—		—		—		—		5,473
Current		839,603		452,692		200,811		100,729		56,354		76,046		460,726		122,166		2,309,127
Total	$	843,896	$	452,692	$	200,811	$	101,909	$	56,354	$	76,046	$	460,726	$	122,166	$	2,314,600
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Residential real estate
30-59 days	$	—	$	3,867	$	—	$	10	$	—	$	—	$	30	$	—	$	3,907
60-89 days		—		—		—		—		—		—		—		—		—
Greater than 90 days		—		120		—		—		—		—		—		—		120
Total past due		—		3,987		—		10		—		—		30		—		4,027
Current		77,703		83,443		124,413		45,481		37,395		34,852		31,862		191		435,340
Total	$	77,703	$	87,430	$	124,413	$	45,491	$	37,395	$	34,852	$	31,892	$	191	$	439,367
Greater than 90 days and accruing	$	—	$	120	$	—	$	—	$	—	$	—	$	—	$	—	$	120
Consumer
30-59 days	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
60-89 days		—		—		2		—		5		—		—		—		7
Greater than 90 days		—		—		—		—		—		—		—		—		—
Total past due		—		—		2		—		5		—		—		—		7
Current		7,917		1,347		2,641		265		137		6		21,173		—		33,486
Total	$	7,917	$	1,347	$	2,643	$	265	$	142	$	6	$	21,173	$	—	$	33,493
Greater than 90 days and accruing	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total
30-59 days	$	4,313	$	8,651	$	—	$	1,190	$	—	$	1,049	$	2,844	$	—	$	18,047
60-89 days		—		55		2		—		5		—		980		430		1,472
Greater than 90 days		—		263		7		6		1,383		12		7,681		—		9,352
Total past due		4,313		8,969		9		1,196		1,388		1,061		11,505		430		28,871
Current		1,498,559		971,900		457,702		252,151		176,409		154,968		1,653,282		178,887		5,343,858
Total	$	1,502,872	$	980,869	$	457,711	$	253,347	$	177,797	$	156,029	$	1,664,787	$	179,317	$	5,372,729
Greater than 90 days and accruing	$	—	$	159	$	7	$	—	$	—	$	—	$	584	$	—	$	750

Schedule of Nonaccrual Loans


As of December 31, 2023
	Amortized Cost Basis by Origination Year												Amortized Cost Basis
															Revolving				Non-accrual
															loans				Loans with
											2018 and		Revolving		converted		Total Non-		no related
	2023		2022		2021		2020		2019		Prior		loans		to term loans		accrual Loans		Allowance

	(Dollars in thousands)
Commercial and industrial	$	—	$	—	$	266	$	24	$	—	$	—	$	8,839	$	178	$	9,307	$	6,198
Energy		—		—		—		—		—		—		288		—		288		288
Commercial real estate - owner occupied		—		—		204		—		—		—		—		—		204		204
Commercial real estate - non-owner occupied		—		713		6,029		1,698		—		—		—		—		8,440		1,698
Residential real estate		—		—		—		—		—		—		—		179		179		179
Consumer		—		33		—		—		—		—		—		—		33		33
Total	$	—	$	746	$	6,499	$	1,722	$	—	$	—	$	9,127	$	357	$	18,451	$	8,600


As of December 31, 2022
	Amortized Cost Basis by Origination Year												Amortized Cost Basis
															Revolving				Non-accrual
															loans				Loans with
											2017 and		Revolving		converted		Total Non-		no related
	2022		2021		2020		2019		2018		Prior		loans		to term loans		accrual Loans		Allowance

	(Dollars in thousands)
Commercial and industrial	$	—	$	104	$	—	$	6	$	1,383	$	12	$	6,479	$	—	$	7,984	$	7,984
Energy		—		—		—		—		—		—		618		—		618		618
Commercial real estate - owner occupied		—		—		—		—		—		—		—		—		—		—
Commercial real estate - non-owner occupied		—		2,479		—		—		—		—		—		—		2,479		2,479
Residential real estate		—		—		—		—		—		—		—		191		191		191
Consumer		—		—		—		—		—		—		—		—		—		—
Total	$	—	$	2,583	$	—	$	6	$	1,383	$	12	$	7,097	$	191	$	11,272	$	11,272

Summary of Allowance for Credit Losses


	For the Year Ended December 31, 2023

					Commercial		Commercial
					Real Estate		Real Estate
	Commercial				Owner-		Non-owner-		Residential
	and Industrial		Energy		Occupied		Occupied		Real Estate		Consumer		Total

	(Dollars in thousands)
Allowance for Credit Losses:
Beginning balance	$	26,803	$	4,396	$	5,214	$	21,880	$	3,333	$	149	$	61,775
PCD allowance for credit loss at acquisition		51		—		61		217		—		—		329
Charge-offs		(5,703)		—		—		—		—		(6)		(5,709)
Recoveries		164		139		—		—		—		—		303
Provision (release)		10,871		(1,392)		976		5,390		118		(99)		15,864
Day 1 CECL provision expense		58		—		194		643		5		—		900
Ending balance	$	32,244	$	3,143	$	6,445	$	28,130	$	3,456	$	44	$	73,462
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures:
Beginning balance	$	319	$	787	$	221	$	7,323	$	35	$	3	$	8,688
Provision (release)		635		(638)		(96)		(2,227)		54		(3)		(2,275)
Ending balance	$	954	$	149	$	125	$	5,096	$	89	$	—	$	6,413


	For the Year Ended December 31, 2022

					Commercial		Commercial
					Real Estate		Real Estate
	Commercial				Owner-		Non-owner-		Residential
	and Industrial		Energy		Occupied		Occupied		Real Estate		Consumer		Total

	(Dollars in thousands)
Allowance for Credit Losses:
Beginning balance, prior to adoption of ASU 2016-13	$	19,005	$	9,190	$	3,852	$	21,212	$	3,231	$	138	$	56,628
PCD allowance for credit loss at acquisition		523		—		210		172		4		6		915
Charge-offs		(4,762)		(4,651)		—		(1,102)		(216)		(13)		(10,744)
Recoveries		2,628		2,008		—		2,335		—		8		6,979
Provision (release)		7,567		(2,151)		(447)		(1,748)		195		(14)		3,402
Day 1 CECL provision expense		1,842		—		1,599		1,011		119		24		4,595
Ending balance	$	26,803	$	4,396	$	5,214	$	21,880	$	3,333	$	149	$	61,775
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures:
Beginning balance, prior to adoption of ASU 2016-13	$	151	$	265	$	176	$	4,586	$	5	$	1	$	5,184
Provision (release)		51		522		39		2,436		(3)		2		3,047
Day 1 CECL provision expense		117		—		6		301		33		—		457
Ending balance	$	319	$	787	$	221	$	7,323	$	35	$	3	$	8,688

Net Charge-offs By Year of Origination


As of December 31, 2023
	Gross Charge-offs by Origination Year												Gross Charge-Offs
															Revolving
															loans
											2018 and		Revolving		converted		Gross
	2023		2022		2021		2020		2019		Prior		loans		to term loans		Charge-Offs

	(Dollars in thousands)
Commercial and industrial	$	581	$	7	$	72	$	—	$	—	$	1,358	$	3,165	$	520	$	5,703
Energy		—		—		—		—		—		—		—		—		—
Commercial real estate - owner occupied		—		—		—		—		—		—		—		—		—
Commercial real estate - non-owner occupied		—		—		—		—		—		—		—		—		—
Residential real estate		—		—		—		—		—		—		—		—		—
Consumer		—		1		—		—		—		5		—		—		6
Total	$	581	$	8	$	72	$	—	$	—	$	1,363	$	3,165	$	520	$	5,709

Schedule of Collateral Dependent Loans


As of December 31, 2023
					Amortized Cost of
					Collateral
	Amortized Cost of		Related Allowance		Dependent Loans
	Collateral		for		with no related
Loan Segment and Collateral Description	Dependent Loans		Credit Losses		Allowance

	(Dollars in thousands)
Commercial and industrial
All business assets	$	9,308	$	1,392	$	6,198
Energy
Oil and natural gas properties		288		—		288
Commercial real estate - owner-occupied
Commercial real estate properties		204		—		204
Commercial real estate - non-owner-occupied
Commercial real estate properties		8,440		571		1,698
Residential real estate
Residential real estate properties		179		—		179
Consumer
Vehicles & other personal assets		—		—		—
	$	18,419	$	1,963	$	8,567


As of December 31, 2022
					Amortized Cost of
					Collateral
	Amortized Cost of		Related Allowance		Dependent Loans
	Collateral		for		with no related
Loan Segment and Collateral Description	Dependent Loans		Credit Losses		Allowance

	(Dollars in thousands)
Commercial and industrial
All business assets	$	7,981	$	—	$	7,981
Energy
Oil and natural gas properties		618		—		618
Commercial real estate - owner-occupied
Commercial real estate properties		—		—		—
Commercial real estate - non-owner-occupied
Commercial real estate properties		92		—		92
Residential real estate
Residential real estate properties		—		—		—
Consumer
Vehicles & other personal assets		39		22		—
	$	8,728	$	22	$	8,689

Summary of Loan Modifications


	December 31, 2023
	Term Extension
	Amortized Cost Basis		% of Loan Class

	(Dollars in thousands)
Commercial and industrial	$	5,384		0.25	%
Commercial real estate - owner occupied		4,568		0.81
Residential real estate		253		0.05
Total Loans	$	10,205


	Balance at December 31, 2023
			30-59 Days		60-89 Days		Greater than 90		Total
	Current		Past Due		Past Due		Days Past Due		Past Due

	(Dollars in thousands)
Commercial and industrial	$	5,384	$	—	$	—	$	—	$	—
Commercial real estate - owner occupied		4,568		—		—		—		—
Residential real estate		253		—		—		—		—
Total Loans	$	10,205	$	—	$	—	$	—	$	—


		December 31, 2023
		Financial Effect
		Term Extension
Commercial and industrial		Added a weighted average 1.2 years to the life of loan, which reduced monthly payment amounts
Commercial real estate - owner occupied		Added a weighted average 0.5 years to the life of loan, which reduced monthly payment amounts
Residential real estate		Added a weighted average 0.3 years to the life of loan, which reduced monthly payment amounts

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Stock-Based Compensation

Summary of stock-based compensation


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands)
Stock appreciation rights	$	216	$	325	$	711
Performance-based stock awards		1,074		774		741
Restricted stock units and awards		3,824		3,200		3,047
Employee stock purchase plan		167		118		85
Total stock-based compensation	$	5,281	$	4,417	$	4,584

Summary of assumptions used in the Black-Scholes valuation model for SSARs


	For the Year Ended December 31,
	2023		2022		2021

	(Dollars in thousands, except per share data)
Assumptions:
Expected volatility⁽¹⁾		42.76%		44.1% - 45.41%		42.93% - 43.29%
Expected dividends⁽²⁾		0.00%		0.00%		0.00%
Expected term (in years)⁽³⁾		7.00		7.00 - 7.01		7.00 - 7.01
Risk-free rate⁽⁴⁾		4.71%		2.8% - 3.62%		0.94% - 1.36%
Weighted average grant date fair value per share	$	5.58	$	6.86	$	6.50
Aggregate intrinsic value of SSARs exercised	$	1,007	$	1,578	$	1,297
Total fair value of SSARs vested during the year	$	279	$	484	$	1,087
Unrecognized compensation information:
Unrecognized compensation cost	$	622	$	795	$	1,249
Period remaining (in years)		4.4		4.7		4.1

(1)

(2)	The dividend yield was calculated in accordance with the Company’s dividend policy at the time of grant.

(3)	The expected term was estimated to be the midpoint between the contractual vesting term and time to expiration, in accordance with the simplified method described in SAB Topic 14.D.2. due to the Company’s limited history of SSAR exercise activity.

(4)	The risk-free rate for the expected term of the SSARs was based on the U.S. Treasury yield curve at the date of grant and based on the expected term.

Summary of SSAR activity


	Stock-Settled Appreciation Rights
				Weighted Average
		Weighted Average		Remaining
	Units	Exercise Price		Contractual Term
Outstanding, January 1, 2023	1,159,240	$	11.64	6.29
Granted	7,000		5.58	9.84
Exercised	(204,074)		7.52
Forfeited	(13,574)		11.47
Expired	(124,998)		25.20
Outstanding, December 31, 2023	823,594	$	10.59	5.67
Exercisable, December 31, 2023	710,456	$	10.07	5.40

Summary of status of and changes in the performance-based awards


	Performance-Based Awards
		Weighted Average
	Number of Shares	Grant Date Fair Value
Unvested, January 1, 2023	134,286	$	14.52
Granted	128,005		14.13
Vested	(20,736)		13.55
Forfeited	(8,568)		14.78
Unvested, December 31, 2023	232,987	$	14.38

Summary of status of and changes in the RSUs and RSAs


	Restricted Stock Units and Awards
		Weighted Average
	Number of Shares	Grant Date Fair Value
Unvested, January 1, 2023	416,980	$	14.13
Granted	333,979		13.20
Vested	(243,888)		13.78
Forfeited	(50,057)		14.28
Unvested, December 31, 2023	457,014	$	13.62

Summary of assumptions using the Black-Scholes valuation model for ESPPs


	For the Year Ended December 31,
	2023	2022	2021
Assumptions:
Expected volatility	26.10% - 41.72%	24.1% - 28.00%	5.99% - 32.00%
Expected dividends	0.00%	0.00%	0.00%
Expected term (in years)	0.50	0.50	0.50
Risk-free rate	4.75% - 5.53%	0.19% - 2.52%	0.03% - 0.09%