Bridgewater Bancshares (BWB) 10-Q4 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	May 02, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Entity File Number	001-38412
Entity Registrant Name	BRIDGEWATER BANCSHARES, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	26-0113412
Entity Address, Address Line One	4450 Excelsior Boulevard, Suite 100
Entity Address, City or Town	St. Louis Park
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55416
City Area Code	952
Local Phone Number	893-6868
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,934,731
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001341317
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	BWB
Security Exchange Name	NASDAQ
Depositary Shares
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares
Trading Symbol	BWBBP
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and Cash Equivalents	$ 209,192	$ 87,043
Bank-Owned Certificates of Deposit	1,225	1,181
Securities Available for Sale, at Fair Value	559,430	548,613
Loans, Net of Allowance for Credit Losses of $50,148 at March 31, 2023 (unaudited) and $47,996 at December 31, 2022	3,625,477	3,512,157
Federal Home Loan Bank (FHLB) Stock, at Cost	28,632	19,606
Premises and Equipment, Net	47,801	48,445
Foreclosed Assets	116
Accrued Interest	13,377	13,479
Goodwill	2,626	2,626
Other Intangible Assets, Net	240	288
Bank-Owned Life Insurance	33,719	33,485
Other Assets	81,064	78,739
Total Assets	4,602,899	4,345,662
Deposits:
Noninterest Bearing	742,198	884,272
Interest Bearing	2,668,925	2,532,271
Total Deposits	3,411,123	3,416,543
Federal Funds Purchased	437,000	287,000
Notes Payable	13,750	13,750
FHLB Advances	197,000	97,000
Subordinated Debentures, Net of Issuance Costs	79,001	78,905
Accrued Interest Payable	3,257	2,831
Other Liabilities	59,762	55,569
Total Liabilities	4,200,893	3,951,598
SHAREHOLDERS' EQUITY
Preferred Stock- $0.01 par value; Authorized 10,000,000 Preferred Stock - Issued and Outstanding 27,600 Series A shares ($2,500 liquidation preference) at March 31, 2023 (unaudited) and December 31, 2022	66,514	66,514
Common Stock- $0.01 par value; Authorized 75,000,000 Common Stock - Issued and Outstanding 27,845,244 at March 31, 2023 (unaudited) and 27,751,950 at December 31, 2022	278	278
Additional Paid-In Capital	97,716	96,529
Retained Earnings	255,394	248,685
Accumulated Other Comprehensive Loss	(17,896)	(17,942)
Total Shareholders' Equity	402,006	394,064
Total Liabilities and Equity	$ 4,602,899	$ 4,345,662

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Allowance of loan loss	$ 50,148	$ 47,996
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	27,845,244	27,751,950
Common stock, shares outstanding (in shares)	27,845,244	27,751,950
Series A Preferred Stock
Preferred stock, shares issued (in shares)	27,600	27,600
Preferred stock, shares outstanding (in shares)	27,600	27,600
Liquidation preference	$ 2,500	$ 2,500

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
INTEREST INCOME
Loans, Including Fees	$ 44,955	$ 31,744
Investment Securities	6,218	2,870
Other	819	80
Total Interest Income	51,992	34,694
INTEREST EXPENSE
Deposits	16,374	3,158
Notes Payable	263
FHLB Advances	861	150
Subordinated Debentures	983	1,197
Federal Funds Purchased	4,944	9
Total Interest Expense	23,425	4,514
NET INTEREST INCOME	28,567	30,180
Provision for Credit Losses	625	1,675
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	27,942	28,505
NONINTEREST INCOME
Customer Service Fees	349	281
Net Loss on Sales of Available for Sale Securities	(56)
Other Income	1,650	1,276
Total Noninterest Income	1,943	1,557
NONINTEREST EXPENSE
Salaries and Employee Benefits	8,815	8,694
Occupancy and Equipment	1,209	1,085
Other Expense	4,159	3,729
Total Noninterest Expense	14,183	13,508
INCOME BEFORE INCOME TAXES	15,702	16,554
Provision for Income Taxes	4,060	4,292
NET INCOME	11,642	12,262
Preferred Stock Dividends	(1,013)	(1,013)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 10,629	$ 11,249
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.38	$ 0.40
Diluted (in dollars per share)	$ 0.37	$ 0.39

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Consolidated Statements of Comprehensive Income
Net Income	$ 11,642	$ 12,262
Other Comprehensive Income (Loss):
Unrealized Gains (Losses) on Available for Sale Securities	5,243	(23,013)
Unrealized Gains (Losses) on Cash Flow Hedges	(4,169)	9,029
Reclassification Adjustment for (Gains) Losses Realized in Income	(1,011)	423
Income Tax Impact	(17)	2,848
Total Other Comprehensive Income (Loss), Net of Tax	46	(10,713)
Comprehensive Income	$ 11,688	$ 1,549

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Preferred Stock. Adjusted for Change in Accounting Principal	Preferred Stock.	Common Stock Adjusted for Change in Accounting Principal	Common Stock	Additional Paid In Capital Adjusted for Change in Accounting Principal	Additional Paid In Capital	Retained Earnings Cumulative Effect of Change	Retained Earnings Adjusted for Change in Accounting Principal	Retained Earnings	Accumulated Other Comprehensive Income (Loss) Adjusted for Change in Accounting Principal	Accumulated Other Comprehensive Income (Loss)	Cumulative Effect of Change	Adjusted for Change in Accounting Principal	Total
Balance at the beginning at Dec. 31, 2021		$ 66,514		$ 282		$ 104,123			$ 199,347		$ 9,006			$ 379,272
Balance at the beginning (in shares) at Dec. 31, 2021				28,206,566
Stock-based Compensation						831								831
Stock-based Compensation (in shares)				4,656
Comprehensive Income (Loss)									12,262		(10,713)			1,549
Stock Options Exercised						21								21
Stock Options Exercised (in shares)				10,000
Stock Repurchases						(1,203)								(1,203)
Stock Repurchases (in shares)				(71,038)
Forfeiture of Restricted Stock Awards						(1)								(1)
Forfeiture of Restricted Stock Awards (in shares)				(400)
Vested Restricted Stock Units (in shares)				1,500
Restricted Shares Withheld for Taxes						(15)								(15)
Restricted Shares Withheld for Taxes (in shares)				(895)
Preferred Stock Dividend									(1,013)					(1,013)
Balance at the end at Mar. 31, 2022		66,514		$ 282		103,756			210,596		(1,707)			379,441
Balance at the end (in shares) at Mar. 31, 2022				28,150,389
Balance at the beginning at Dec. 31, 2022	$ 66,514	66,514	$ 278	$ 278	$ 96,529	96,529	$ (3,920)	$ 244,765	248,685	$ (17,942)	(17,942)	$ (3,920)	$ 390,144	394,064
Balance at the beginning (in shares) at Dec. 31, 2022			27,751,950	27,751,950
Stock-based Compensation						941								941
Stock-based Compensation (in shares)				10,608
Comprehensive Income (Loss)									11,642		46			11,688
Stock Options Exercised						261								$ 261
Stock Options Exercised (in shares)				82,000										82,000
Vested Restricted Stock Units (in shares)				1,625
Restricted Shares Withheld for Taxes						(15)								$ (15)
Restricted Shares Withheld for Taxes (in shares)				(939)
Preferred Stock Dividend									(1,013)					(1,013)
Balance at the end at Mar. 31, 2023		$ 66,514		$ 278		$ 97,716			$ 255,394		$ (17,896)			$ 402,006
Balance at the end (in shares) at Mar. 31, 2023				27,845,244

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 11,642	$ 12,262
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Net Amortization on Securities Available for Sale	101	681
Net Loss on Sales of Securities Available for Sale	56
Provision for Credit Losses on Loans	1,500	1,675
Provision (Credit) for Off-Balance Sheet Exposures	(875)
Depreciation of Premises and Equipment	651	628
Amortization of Other Intangible Assets	48	48
Amortization of Right-of use Asset	125
Amortization of Subordinated Debt Issuance Costs	96	110
Stock-based Compensation	941	831
Changes in Operating Assets and Liabilities:
Accrued Interest Receivable and Other Assets	(6,369)	(1,377)
Accrued Interest Payable and Other Liabilities	(118)	16,423
Net Cash Provided by Operating Activities	7,798	31,281
CASH FLOWS FROM INVESTING ACTIVITIES
(Increase) Decrease in Bank-Owned Certificates of Deposit	(44)	737
Proceeds from Sales of Securities Available for Sale	19,959
Proceeds from Maturities, Paydowns, Payups and Calls of Securities Available for Sale	7,055	8,531
Purchases of Securities Available for Sale	(32,689)	(51,449)
Net Increase in Loans	(114,711)	(168,968)
Net Increase in FHLB Stock	(9,026)	(1,604)
Purchases of Premises and Equipment	(7)	(277)
Net Cash Used in Investing Activities	(129,463)	(213,030)
CASH FLOWS FROM FINANCING ACTIVITIES
Net (Increase) Decrease in Deposits	(5,420)	89,374
Net Increase in Federal Funds Purchased	150,000	23,000
Proceeds from FHLB Advances	155,500
Principal Payments on FHLB Advances	(55,500)
Preferred Stock Dividends Paid	(1,013)	(1,013)
Stock Options Exercised	261	21
Stock Repurchases		(1,203)
Forfeiture of Restricted Stock Awards		(1)
Shares Repurchased for Tax Withholdings Upon Vesting of Restricted Stock-Based Awards	(14)	(15)
Net Cash Provided by Financing Activities	243,814	110,163
NET CHANGE IN CASH AND CASH EQUIVALENTS	122,149	(71,586)
Cash and Cash Equivalents Beginning	87,043	143,473	$ 143,473
Cash and Cash Equivalents Ending	209,192	71,887	$ 87,043
SUPPLEMENTAL CASH FLOW DISCLOSURE
Cash Paid for Interest	22,903	4,238
Cash Paid for Income Taxes	$ 39	40
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Net Investment Securities Purchased but Not Settled		$ 503

Description of the Business and

Description of the Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Description of the Business and Summary of Significant Accounting Policies
Description of the Business and Summary of Significant Accounting Policies	Note 1: Description of the Business and Summary of Significant Accounting Policies Organization Bridgewater Bancshares, Inc. (the “Company”) is a financial holding company whose operations consist of the ownership of its wholly-owned subsidiaries, Bridgewater Bank (the “Bank”) and Bridgewater Risk Management, Inc. The Bank commenced operations in 2005 and provides retail and commercial loan and deposit services, principally to customers within the Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area. In 2008, the Bank formed BWB Holdings, LLC, a wholly-owned subsidiary of the Bank, for the purpose of holding repossessed property. In 2018, the Bank formed Bridgewater Investment Management, Inc., a wholly-owned subsidiary of the Bank, for the purpose of holding certain municipal securities and to engage in municipal lending activities. Bridgewater Risk Management, Inc. was incorporated in December 2016 as a wholly-owned insurance company. It insures the Company and its subsidiaries against certain risks unique to the operations of the Company and for which insurance may not be currently available or economically feasible in today’s insurance marketplace. Bridgewater Risk Management pools resources with several other insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. Basis of Presentation The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of the consolidated balance sheets, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of shareholders’ equity and consolidated statements of cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, all normal recurring adjustments which are, in the opinion of management, necessary for the fair presentation of the interim financial statements have been included. The results of operations for the three-month period ended March 31, 2023 are not necessarily indicative of the results which may be expected for the entire year. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 7, 2023. Principles of Consolidation These consolidated financial statements include the amounts of the Company, the Bank, with locations in Bloomington, Greenwood, Minneapolis (2), St. Louis Park, Orono, and St. Paul, Minnesota, BWB Holdings, LLC, Bridgewater Investment Management, Inc., and Bridgewater Risk Management, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates in Preparation of Financial Statements The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Information available which could affect judgements includes, but is not limited to, changes in interest rates, changes in the performance of the economy, including rising inflation and ongoing COVID-19 pandemic related changes, and changes in the financial condition of borrowers. Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for credit losses, calculation of deferred tax assets, fair value of financial instruments, and investment securities impairment. Emerging Growth Company The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. In addition, even if the Company complies with the greater obligations of public companies that are not emerging growth companies, the Company may avail itself of the reduced requirements applicable to emerging growth companies from time to time in the future, so long as the Company is an emerging growth company. The Company will continue to be an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the date of the first sale of common equity securities under the Company’s Registration Statement on Form S-1, which was declared effective by the SEC on March 13, 2018; (2) the last day of the fiscal year in which the Company has $1.235 billion or more in annual revenues; (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended (the “Exchange Act”); or (4) the date on which the Company has, during the previous three-year period, issued publicly or privately, more than $1.0 billion in non-convertible debt securities. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period. Allowance for Credit Losses Securities Available for Sale For any securities classified as available for sale that are in an unrealized loss position at the balance sheet date, the Company assesses whether or not it intends to sell the security, or if it is more likely than not it will be required to sell the security, before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is written down to fair value through income with the establishment of an allowance. For securities that do not meet the aforementioned criteria, the Company evaluates whether any portion of the decline in fair value is the result of credit deterioration. In making this assessment, management considers the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security, among other factors. If the assessment indicates that a credit loss exists, an allowance for credit losses, or ACL, is recorded for the amount by which the amortized cost basis of the security exceeds the present value of cash flows expected to be collected, limited by the amount by which the amortized cost exceeds fair value. Any impairment not recognized in the allowance for credit losses is recognized in other comprehensive income. Changes in the ACL on securities are recorded as a provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of a security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on securities available for sale is excluded from the estimate of credit losses. Loans The ACL on loans is a valuation account that is deducted from the amortized cost basis of loans to present the net amount expected to be collected on loans over their contractual life. The contractual term does not consider extensions, renewals or modifications. Loans are charged off against the ACL on loans when management believes the uncollectibility of a loan balance has been confirmed. Recoveries do not exceed the aggregate of amounts previously charged off or expected to be charged off. Subsequent recoveries, if any, are credited to the ACL on loans. The ACL on loans is measured on a collective or pooled basis when similar risk characteristics exist. The Company’s pooling method is primarily based on loan purpose and collateral type and generally follows the Company’s loan segmentation for regulatory reporting. The Company has identified the following pools of loans with similar risk characteristics for measuring the ACL on loans: Commercial: Paycheck Protection Program (PPP): Construction and Land Development: 1-4 Family Construction: 1-4 Family Mortgage: Multifamily: Commercial Real Estate (CRE) Owner Occupied: Commercial Real Estate (CRE) Nonowner Occupied: Consumer and Other: Management assesses the adequacy of the ACL on loans on a quarterly basis. Management estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The Company uses the weighted-average remaining maturity, or WARM method as the basis for estimating expected credit losses. The WARM method uses a historical average annual charge off rate. This average annual charge off rate contains loss content over a historical lookback period and is used as a foundation for estimating the ACL on loans for the remaining outstanding balances of loans by segment at the balance sheet date. The average annual charge off rate is applied to the contractual term, further adjusted for estimated prepayments, to determine the unadjusted historical charge off rate. The calculation of the unadjusted historical charge off rate is then adjusted for current conditions and for reasonable and supportable forecast periods through qualitative factors prior to being applied to the current balance of the loan segments. Accrued interest receivable on loans available for sale is excluded from the estimate of credit losses. Forecast adjustments to the historical loss rate are based on a forecast of the U.S. national unemployment rate, a forecast of the difference between the 10-year and 3-month treasury rates, and the most recent available BBB rated corporate bond spreads to U.S. Treasury securities, or BBB Spread. The forecast overlay adjustment for the reasonable and supportable forecast assumes an immediate reversion after a one-year forecast period to historical loss rates for the remaining life of the respective loan segment. Qualitative factors are used to cover losses that are expected but, in the Company’s assessment, may not be adequately represented in the quantitative analysis or the forecasts described above. These qualitative factors serve to compensate for additional areas of uncertainty inherent in the portfolio that are not reflected in the historic loss factors. Each qualitative loss factor, for each loan segment within the portfolio, incorporates consideration for a minimum to maximum range for loss factors. These qualitative factor adjustments may increase or decrease the Company’s estimate of expected credit losses and are applied to each loan segment. The qualitative factors applied to each loan segment include changes in lending policies and procedures, general economic and business conditions, the nature, volume and terms of loans, the experience, depth and ability of lending staff, the quality of the loan review function, the value of underlying collateral, competition, legal and regulatory factors, the volume and severity of watchlist and past due loans, and the level of concentrations. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the pooled evaluation and typically represent collateral dependent loans but may also include other nonperforming loans or modifications. The Company has elected to use the practical expedient to measure individually evaluated loans as collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The credit loss is measured as the difference between the amortized cost basis of the loan and the fair value of the underlying collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale of the collateral. Management may also adjust its assumptions to account for differences between expected and actual losses from period to period. The variability of management’s assumptions could alter the ACL on loans materially and impact future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced. Off-Balance Sheet Credit Exposures The Company maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments, financial guarantees, and letters of credit, which is included in other liabilities on the consolidated balance sheet, unless the obligation is unconditionally cancellable. The ACL on off-balance sheet credit exposures is adjusted as a provision for (or reversal of) credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over the estimated life of such commitments. The allowance is calculated using the same aggregate reserve rates calculated for the funded portion of the loan segment and applied to the amount of commitments expected to fund. Impact of Recently Adopted Accounting Guidance On January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13 “ Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments,” The Company adopted CECL using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under CECL while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a net decrease to retained earnings of $3.9 million as of January 1, 2023 for the cumulative effect of adopting CECL. The transition adjustment included a $650,000 impact due to the increase in ACL related to loans, a $4.8 million impact due the establishment of the allowance for off-balance sheet credit exposures, and a $1.6 million impact on deferred taxes. The following table presents the impact of adopting CECL: January 1, 2023 Impact of As Reported (dollars in thousands) Pre-CECL Adoption CECL Adoption Under CECL Assets: Loans Commercial $ 6,500 $ (1,157) $ 5,343 Paycheck Protection Program 1 (1) — Construction and Land Development 3,911 (1,070) 2,841 1-4 Family Construction 845 (235) 610 Real Estate Mortgage: 1-4 Family Mortgage 4,325 (1,778) 2,547 Multifamily 17,459 3,318 20,777 CRE Owner Occupied 1,965 (943) 1,022 CRE Nonowner Occupied 12,576 2,869 15,445 Consumer and Other 151 (90) 61 Unallocated 263 (263) — Allowance for Credit Losses on Loans $ 47,996 $ 650 $ 48,646 Liabilities: Allowance for Credit Losses on Off-balance Sheet Credit Exposures $ 360 $ 4,850 $ 5,210 In March 2022, the Company issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. Receivables – Troubled Debt Restructurings by Creditors, Impact of Recently Issued Accounting Guidance In March 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-01, Leases (Topic 842): Common Control Arrangements In March 2023, the FASB issued ASU No. 2023-02, Investments Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method Subsequent Events Subsequent events have been evaluated through May 4, 2023, which is the date the consolidated financial statements were available to be issued.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2023
Earnings Per Share
Earnings Per Share	Note 2: Earnings Per Share Basic earnings per common share are computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share are computed by dividing net income by the weighted average number of common shares adjusted for the dilutive effect of stock compensation. For the three months ended March 31, 2023, stock options, restricted stock awards and restricted stock units of approximately 621,994 shares were excluded from the calculation because they were deemed to be anti-dilutive. For the three months ended March 31, 2022, stock options, restricted stock awards and restricted stock units of approximately 305,000 shares were excluded from the calculation because their effect would have been anti-dilutive. The following table presents the numerators and denominators for basic and diluted earnings per share computations for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands, except per share data) 2023 2022 Net Income Available to Common Shareholders $ 10,629 $ 11,249 Weighted Average Common Stock Outstanding: Weighted Average Common Stock Outstanding (Basic) 27,726,894 28,123,809 Dilutive Effect of Stock Compensation 763,152 1,032,276 Weighted Average Common Stock Outstanding (Dilutive) 28,490,046 29,156,085 Basic Earnings per Common Share $ 0.38 $ 0.40 Diluted Earnings per Common Share 0.37 0.39

Securities

Securities	3 Months Ended
Securities	Mar. 31, 2023
Securities
Securities	Note 3: Securities The following tables present the amortized cost and estimated fair value of securities with gross unrealized gains and losses at March 31, 2023 and December 31, 2022: March 31, 2023 Gross Gross Amortized Unrealized Unrealized (dollars in thousands) Cost Gains Losses Fair Value Securities Available for Sale: U.S. Treasury Securities $ 2,762 $ 4 $ (27) $ 2,739 Municipal Bonds 146,810 5 (20,217) 126,598 Mortgage-Backed Securities 240,517 2,376 (15,655) 227,238 Corporate Securities 127,170 42 (9,317) 117,895 SBA Securities 30,331 605 (137) 30,799 Asset-Backed Securities 54,424 234 (497) 54,161 Total Securities Available for Sale $ 602,014 $ 3,266 $ (45,850) $ 559,430 December 31, 2022 Gross Gross Amortized Unrealized Unrealized (dollars in thousands) Cost Gains Losses Fair Value Securities Available for Sale: U.S. Treasury Securities $ 2,621 $ — $ (41) $ 2,580 Municipal Bonds 156,506 62 (25,214) 131,354 Mortgage-Backed Securities 252,919 2,465 (17,600) 237,784 Corporate Securities 116,871 45 (7,089) 109,827 SBA Securities 20,957 79 (159) 20,877 Asset-Backed Securities 46,623 188 (620) 46,191 Total Securities Available for Sale $ 596,497 $ 2,839 $ (50,723) $ 548,613 Securities with a carrying value of $234.5 million at March 31, 2023 The following tables present the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2023 and December 31, 2022: Less Than 12 Months 12 Months or Greater Total Number of Unrealized Unrealized Unrealized (dollars in thousands, except number of holdings) Holdings Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2023 U.S. Treasury Securities 5 $ 2,762 $ (27) $ — $ — $ 2,762 $ (27) Municipal Bonds 212 22,283 (758) 101,927 (19,459) 124,210 (20,217) Mortgage-Backed Securities 124 60,388 (2,220) 103,245 (13,435) 163,633 (15,655) Corporate Securities 106 82,071 (4,981) 31,507 (4,336) 113,578 (9,317) SBA Securities 48 1,964 (6) 8,826 (131) 10,790 (137) Asset-Backed Securities 25 26,662 (246) 11,182 (251) 37,844 (497) Total Securities Available for Sale 520 $ 196,130 $ (8,238) $ 256,687 $ (37,612) $ 452,817 $ (45,850) Less Than 12 Months 12 Months or Greater Total Number of Unrealized Unrealized Unrealized (dollars in thousands, except number of holdings) Holdings Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2022 U.S. Treasury Securities 6 $ 2,330 $ (41) $ — $ — $ 2,330 $ (41) Municipal Bonds 225 59,912 (5,321) 69,424 (19,893) 129,336 (25,214) Mortgage-Backed Securities 130 123,224 (5,427) 62,882 (12,173) 186,106 (17,600) Corporate Securities 100 88,486 (5,121) 17,054 (1,968) 105,540 (7,089) SBA Securities 49 2,498 (6) 9,750 (153) 12,248 (159) Asset-Backed Securities 20 21,919 (396) 6,186 (224) 28,105 (620) Total Securities Available for Sale 530 $ 298,369 $ (16,312) $ 165,296 $ (34,411) $ 463,665 $ (50,723) Beginning January 1, 2023, the Company evaluates all securities quarterly to determine if any securities in a loss position require an allowance for credit losses on securities in accordance with ASC 326 - Measurement of Credit Losses on Financial Instruments At March 31, 2023, 520 debt securities had unrealized losses with aggregate depreciation of approximately 9.2% from the Company’s amortized cost basis. These unrealized losses have not been recognized into income because management does not intend to sell these securities, and it is not more likely than not it will be required to sell the securities before recovery of its amortized cost basis. Furthermore, the unrealized losses are due to changes in interest rates and other market conditions and were not reflective of credit events. To make this determination, consideration is given to such factors as the credit rating of the issuer, level of credit enhancement, changes in credit ratings, market conditions such as current interest rates, any adverse conditions specific to the security, and delinquency status on contractual payments. As of March 31, 2023, there was no allowance for credit losses carried on the Company’s securities portfolio. Accrued interest receivable on securities, which is recorded within accrued interest on the balance sheet, totaled $3.9 million at March 31, 2023 and is excluded from the estimate of credit losses. At December 31, 2022, 530 debt securities had unrealized losses with aggregate depreciation of approximately 9.9% from the Company’s amortized cost basis. For periods prior to the adoption of ASC 326, management conducted a quarterly review and evaluation of its securities for other than temporary impairment. In analyzing whether unrealized losses on debt securities were other than temporary, management considered the length of time and the extent to which the fair value was less than amortized cost, whether the securities are issued by a government body or agency, whether a rating agency has downgraded the securities, industry analysts’ reports, the financial condition and performance of the issuer, the quality of any underlying assets or credit enhancements, and the Company’s intent and ability to hold the security for a period of time sufficient to allow for a recovery in fair value. No declines were deemed to be other than temporary as of December 31, 2022. The following table presents a summary of amortized cost and estimated fair value of debt securities by the lesser of expected call date or contractual maturity as of March 31, 2023. Call date is used when a call of the debt security is expected, as determined by the Company when the security has a market value above its amortized cost. Contractual maturities will differ from expected maturities for mortgage-backed, SBA securities and asset-backed securities because borrowers may have the right to call or prepay obligations without penalties. (dollars in thousands) Amortized Cost Fair Value March 31, 2023 Due in One Year or Less $ 5,331 $ 5,328 Due After One Year Through Five Years 34,902 33,134 Due After Five Years Through 10 Years 165,874 151,432 Due After 10 Years 70,635 57,338 Subtotal 276,742 247,232 Mortgage-Backed Securities 240,517 227,238 SBA Securities 30,331 30,799 Asset-Backed Securities 54,424 54,161 Totals $ 602,014 $ 559,430 The following table presents a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Proceeds From Sales of Securities $ 19,959 $ — Gross Gains on Sales 197 — Gross Losses on Sales (253) —

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	3 Months Ended
Loans and Allowance for Credit Losses	Mar. 31, 2023
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses	Note 4: Loans and Allowance for Credit Losses The following table presents the components of the loan portfolio at March 31, 2023 and December 31, 2022: March 31, December 31, (dollars in thousands) 2023 2022 Commercial $ 454,193 $ 435,344 Paycheck Protection Program 963 1,049 Construction and Land Development 312,277 295,554 1-4 Family Construction 85,797 70,242 Real Estate Mortgage: 1-4 Family Mortgage 380,210 355,474 Multifamily 1,320,081 1,306,738 CRE Owner Occupied 158,650 149,905 CRE Nonowner Occupied 962,671 947,008 Total Real Estate Mortgage Loans 2,821,612 2,759,125 Consumer and Other 9,518 8,132 Total Loans, Gross 3,684,360 3,569,446 Allowance for Credit Losses (50,148) (47,996) Net Deferred Loan Fees (8,735) (9,293) Total Loans, Net $ 3,625,477 $ 3,512,157 The following tables present the aging in past due loans and nonaccrual status, with and without an ACL, by loan segment as of March 31, 2023 and December 31, 2022: Accruing Interest 30-89 Days 90 Days or Nonaccrual Nonaccrual (dollars in thousands) Current Past Due More Past Due with ACL without ACL Total March 31, 2023 Commercial $ 454,092 $ 21 $ — $ 80 $ — $ 454,193 Paycheck Protection Program 963 — — — — 963 Construction and Land Development 312,177 — — — 100 312,277 1-4 Family Construction 85,797 — — — — 85,797 Real Estate Mortgage: 1-4 Family Mortgage 380,210 — — — — 380,210 Multifamily 1,320,081 — — — — 1,320,081 CRE Owner Occupied 158,137 — — — 513 158,650 CRE Nonowner Occupied 962,671 — — — — 962,671 Consumer and Other 9,518 — — — — 9,518 Totals $ 3,683,646 $ 21 $ — $ 80 $ 613 $ 3,684,360 Accruing Interest 30-89 Days 90 Days or Nonaccrual Nonaccrual (dollars in thousands) Current Past Due More Past Due with ACL without ACL Total December 31, 2022 Commercial $ 435,274 $ 70 $ — $ — $ — $ 435,344 Paycheck Protection Program 1,049 — — — — 1,049 Construction and Land Development 295,448 — — — 106 295,554 1-4 Family Construction 70,242 — — — — 70,242 Real Estate Mortgage: HELOC and 1-4 Family Junior Mortgage 36,875 — — — — 36,875 1st REM - 1-4 Family 50,945 — — — — 50,945 LOCs and 2nd REM - Rentals 27,985 — — — — 27,985 1st REM - Rentals 239,553 116 — — — 239,669 Multifamily 1,306,738 — — — — 1,306,738 CRE Owner Occupied 149,372 — — — 533 149,905 CRE Nonowner Occupied 947,008 — — — — 947,008 Consumer and Other 8,132 — — — — 8,132 Totals $ 3,568,621 $ 186 $ — $ — $ 639 $ 3,569,446 The Company aggregates loans into credit quality indicators based on relevant information about the ability of borrowers to service their debt by using internal reviews in which management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which the borrowers operate, and the fair values of collateral securing the loans. The Company analyzes all loans individually to assign a risk rating, grouped into five major categories defined as follows: Pass: Watch: Substandard: Doubtful: Loss : The following table presents loan balances classified by credit quality indicators by year of origination as of March 31, 2023: March 31, 2023 (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Total Commercial Pass $ 20,434 $ 141,709 $ 63,359 $ 31,087 $ 20,019 $ 6,641 $ 147,426 $ 430,675 Watch 47 646 45 — 9 1,963 2,347 5,057 Substandard — 11,691 21 66 — 389 6,294 18,461 Total Commercial 20,481 154,046 63,425 31,153 20,028 8,993 156,067 454,193 Current Period Gross Write-offs — — — — — — — — Paycheck Protection Program Pass — — 963 — — — — 963 Total Paycheck Protection Program — — 963 — — — — 963 Current Period Gross Write-offs — — — — — — — — Construction and Land Development Pass 13,589 194,575 85,571 5,166 — 100 12,464 311,465 Watch — 712 — — — — — 712 Substandard — 100 — — — — — 100 Total Construction and Land Development 13,589 195,387 85,571 5,166 — 100 12,464 312,277 Current Period Gross Write-offs — — — — — — — — 1-4 Family Construction Pass 27,981 29,023 2,983 334 — — 25,476 85,797 Total 1-4 Family Construction 27,981 29,023 2,983 334 — — 25,476 85,797 Current Period Gross Write-offs — — — — — — — — Real Estate Mortgage: — 1-4 Family Mortgage Pass 22,416 120,225 90,879 60,390 20,349 9,169 55,835 379,263 Watch — — — — — 675 — 675 Substandard — — — 272 — — — 272 Total 1-4 Family Mortgage 22,416 120,225 90,879 60,662 20,349 9,844 55,835 380,210 Current Period Gross Write-offs — — — — — — — — Multifamily Pass 81,837 394,113 471,328 268,142 42,593 49,458 9,354 1,316,825 Watch — — 3,256 — — — — 3,256 Total Multifamily 81,837 394,113 474,584 268,142 42,593 49,458 9,354 1,320,081 Current Period Gross Write-offs — — — — — — — — CRE Owner Occupied Pass 17,315 55,530 46,010 21,238 5,309 10,764 880 157,046 Substandard — — 513 208 — 883 — 1,604 Total CRE Owner Occupied 17,315 55,530 46,523 21,446 5,309 11,647 880 158,650 Current Period Gross Write-offs — — — — — — — — CRE Nonowner Occupied Pass 35,112 332,177 301,390 94,350 86,666 71,948 7,333 928,976 Watch — 12,387 5,487 — — — — 17,874 Substandard 9,773 2,553 — 160 3,335 — — 15,821 Total CRE Nonowner Occupied 44,885 347,117 306,877 94,510 90,001 71,948 7,333 962,671 Current Period Gross Write-offs — — — — — — — — Total Real Estate Mortgage Loans 166,453 916,985 918,863 444,760 158,252 142,897 73,402 2,821,612 Consumer and Other Pass 2,600 498 16 1,588 45 — 4,771 9,518 Total Consumer and Other 2,600 498 16 1,588 45 — 4,771 9,518 Current Period Gross Write-offs 1 — — — — — 3 4 — Total Period Gross Write-offs 1 — — — — — 3 4 Total Loans $ 231,104 $ 1,295,939 $ 1,071,821 $ 483,001 $ 178,325 $ 151,990 $ 272,180 $ 3,684,360 The following table presents the risk category of loans by loan segment as of December 31, 2022: December 31, 2022 (dollars in thousands) Pass Watch Substandard Total Commercial $ 406,192 $ 9,477 $ 19,675 $ 435,344 Paycheck Protection Program 1,049 — — 1,049 Construction and Land Development 294,736 712 106 295,554 1-4 Family Construction 70,242 — — 70,242 Real Estate Mortgage: HELOC and 1-4 Family Junior Mortgage 36,875 — — 36,875 1st REM - 1-4 Family 50,271 674 — 50,945 LOCs and 2nd REM - Rentals 27,978 7 — 27,985 1st REM - Rentals 239,277 — 392 239,669 Multifamily 1,303,468 3,270 — 1,306,738 CRE Owner Occupied 148,268 — 1,637 149,905 CRE Nonowner Occupied 922,657 18,112 6,239 947,008 Consumer and Other 8,132 — — 8,132 Totals $ 3,509,145 $ 32,252 $ 28,049 $ 3,569,446 The following table presents the activity in the allowance for credit losses, by segment, for the three months ended March 31, 2023. On January 1, 2023, the Company adopted CECL, which added $650,000 to the total ACL. Under CECL, the Company recorded a $1.5 million provision for credit losses on loans during the three months ended March 31, 2023, compared to a $1.7 million provision for loan losses in the three months ended March 31, 2022, under the incurred loss method. Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamil y Occupied Occupied and Other Unallocated Total Three Months Ended March 31, 2023 Allowance for Credit Losses: Beginning Balance, Prior to Adoption of CECL $ 6,500 $ 1 $ 3,911 845 $ 4,325 $ 17,459 $ 1,965 $ 12,576 $ 151 $ 263 $ 47,996 Impact of Adopting CECL (1,157) (1) (1,070) (235) (1,778) 3,318 (943) 2,869 (90) (263) 650 Provision for Credit Losses 220 — 328 196 169 212 61 299 15 — 1,500 Loans Charged-off — — — — — — — — (4) — (4) Recoveries of Loans 3 — — — 1 — — — 2 — 6 Total Ending Allowance Balance $ 5,566 $ — $ 3,169 $ 806 $ 2,717 $ 20,989 $ 1,083 $ 15,744 $ 74 $ — $ 50,148 The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2022, prepared using the previous GAAP incurred loss method prior to the adoption of CECL: Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamil y Occupied Occupied and Other Unallocated Total Three Months Ended March 31, 2022 Allowance for Loan Losses: Beginning Balance $ 6,256 $ 13 $ 3,139 618 $ 3,757 $ 12,610 $ 1,495 $ 11,335 $ 147 $ 650 $ 40,020 Provision for Loan Losses (620) (7) 568 (6) 125 1,473 100 328 38 (324) 1,675 Loans Charged-off — — — — — — — — (15) — (15) Recoveries of Loans 2 — — — 3 — — — 7 — 12 Total Ending Allowance Balance $ 5,638 $ 6 $ 3,707 $ 612 $ 3,885 $ 14,083 $ 1,595 $ 11,663 $ 177 $ 326 $ 41,692 The following tables present the balance in the allowance for credit losses and the recorded investment in loans, by segment, based on impairment method as of March 31, 2023 and December 31, 2022: Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamil y Occupied Occupied and Other Unallocated Total ACL at March 31, 2023 Individually Evaluated for Impairment $ 76 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 76 Collectively Evaluated for Impairment 5,490 — 3,169 806 2,717 20,989 1,083 15,744 74 — 50,072 Totals $ 5,566 $ — $ 3,169 $ 806 $ 2,717 $ 20,989 $ 1,083 $ 15,744 $ 74 $ — $ 50,148 ALL at December 31, 2022 Individually Evaluated for Impairment $ 71 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 71 Collectively Evaluated for Impairment 6,429 1 3,911 845 4,325 17,459 1,965 12,576 151 263 47,925 Totals $ 6,500 $ 1 $ 3,911 $ 845 $ 4,325 $ 17,459 $ 1,965 $ 12,576 $ 151 $ 263 $ 47,996 Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamily Occupied Occupied and Other Total Loans at March 31, 2023 Individually Evaluated for Impairment $ 18,461 $ — $ 100 $ — $ 272 $ — $ 1,604 $ 15,821 $ — $ 36,258 Collectively Evaluated for Impairment 435,732 963 312,177 85,797 379,938 1,320,081 157,046 946,850 9,518 3,648,102 Totals $ 454,193 $ 963 $ 312,277 $ 85,797 $ 380,210 $ 1,320,081 $ 158,650 $ 962,671 $ 9,518 $ 3,684,360 Loans at December 31, 2022 Individually Evaluated for Impairment $ 19,675 $ — $ 106 $ — $ 392 $ — $ 1,637 $ 6,239 $ — $ 28,049 Collectively Evaluated for Impairment 415,669 1,049 295,448 70,242 355,082 1,306,738 148,268 940,769 8,132 3,541,397 Totals $ 435,344 $ 1,049 $ 295,554 $ 70,242 $ 355,474 $ 1,306,738 $ 149,905 $ 947,008 $ 8,132 $ 3,569,446 The following table presents the amortized cost basis of collateral dependent loans by the primary collateral type, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of March 31, 2023: Primary Type of Collateral Business ACL (dollars in thousands) Real Estate Assets Other Total Allocation March 31, 2023 Commercial $ — $ 8,080 $ 10,381 $ 18,461 $ 76 Paycheck Protection Program — — — — — Construction and Land Development 100 — — 100 — 1-4 Family Construction — — — — — Real Estate Mortgage: 1-4 Family Mortgage 272 — — 272 — Multifamily — — — — — CRE Owner Occupied 1,604 — — 1,604 — CRE Nonowner Occupied 15,821 — — 15,821 — Consumer and Other — — — — — Totals $ 17,797 $ 8,080 $ 10,381 $ 36,258 $ 76 Accrued interest receivable on loans, which is recorded within accrued interest on the balance sheet, totaled $9.5 million at March 31, 2023 and is excluded from the estimate of credit losses. Effective January 1, 2023, the Company adopted the provision of ASU 2022-02, which eliminated the accounting for troubled debt restructurings, or TDRs, while expanding loan modification and vintage disclosure requirements. For the three months ended March 31, 2023, the Company modified one CRE nonowner occupied loan, with an outstanding balance of $9.8 million, for a borrower experiencing financial difficulty by granting a 12-month extension at a below market rate. There was no forgiveness of principal and this loan was current with its modified terms as of March 31, 2023. Prior to the adoption of ASU 2022-02, at December 31, 2022, there were two loans classified as TDRs with total aggregate outstanding balances of $188,000. Pre-ASC 326 Adoption Impaired Loan Disclosures The following table presents information regarding total carrying amounts and total unpaid principal balances of impaired loans by loan segment as of December 31, 2022: December 31, 2022 Recorded Principal Related (dollars in thousands) Investment Balance Allowance Loans With No Related Allowance for Loan Losses: Commercial $ 19,508 $ 19,508 $ — Construction and Land Development 106 713 — Real Estate Mortgage: 1-4 Family Mortgage 392 392 — CRE Owner Occupied 1,637 1,726 — CRE Nonowner Occupied 6,239 6,239 — Totals 27,882 28,578 — Loans With An Allowance for Loan Losses: Commercial 167 167 71 Totals 167 167 71 Grand Totals $ 28,049 $ 28,745 $ 71 The following table presents information regarding the average balances and interest income recognized on impaired loans by loan segment for the three months ended March 31, 2022: Three Months Ended March 31, 2022 Average Interest (dollars in thousands) Investment Recognized Loans With No Related Allowance for Loan Losses: Commercial $ 14,053 $ 190 Construction and Land Development 127 — Real Estate Mortgage: 1-4 Family Mortgage 290 4 CRE Owner Occupied 2,463 26 CRE Nonowner Occupied 3,004 37 Totals 19,937 257 Loans With An Allowance for Loan Losses: Commercial 100 — Totals 100 — Grand Totals $ 20,037 $ 257

Deposits

Deposits	3 Months Ended
Deposits	Mar. 31, 2023
Deposits.
Deposits	Note 5: Deposits The following table presents the composition of deposits at March 31, 2023 and December 31, 2022: March 31, December 31, (dollars in thousands) 2023 2022 Transaction Deposits $ 1,372,235 $ 1,336,264 Savings and Money Market Deposits 913,013 1,031,873 Time Deposits 266,213 272,253 Brokered Deposits 859,662 776,153 Totals $ 3,411,123 $ 3,416,543 Brokered deposits contain brokered transaction and money market accounts of $175.4 million and $184.3 million as of March 31, 2023 and December 31, 2022, respectively. The following table presents the scheduled maturities of brokered and customer time deposits at March 31, 2023: March 31, (dollars in thousands) 2023 Less than 1 Year $ 340,742 1 to 2 Years 112,541 2 to 3 Years 371,335 3 to 4 Years 65,976 4 to 5 Years 59,100 Greater than 5 Years 758 Totals $ 950,452 The aggregate amount of time deposits greater than $250,000 was approximately $81.8 million and $92.3 million at March 31, 2023 and December 31, 2022, respectively.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
Derivative Instruments and Hedging Activities	Mar. 31, 2023
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities	Note 6: Derivative Instruments and Hedging Activities The Company uses derivative financial instruments, which consist of interest rate swaps and interest rate caps, to assist in its interest rate risk management. The notional amount does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual agreements. Derivative financial instruments are reported at fair value in other assets or other liabilities. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship. For derivatives not designated as hedges, the gain or loss is recognized in current earnings. Non-hedge Derivatives The Company enters into interest rate swaps to facilitate client transactions and meet their financing needs. Upon entering into these instruments to meet client needs, the Company enters into offsetting positions with large U.S. financial institutions in order to minimize the risk to the Company. These swaps are derivatives, but are not designated as hedging instruments. Interest rate swap contracts involve the risk of dealing with counterparties and their ability to meet contractual terms. When the fair value of a derivative instrument contract is positive, this generally indicates that the counterparty or client owes the Company, and results in credit risk to the Company. When the fair value of a derivative instrument contract is negative, the Company owes the client or counterparty and therefore, the Company has no credit risk. The following table presents a summary of the Company’s interest rate swaps to facilitate customer transactions as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Notional Estimated Notional Estimated (dollars in thousands) Amount Fair Value Amount Fair Value Interest rate swap agreements: Assets $ 65,004 $ 6,704 $ 65,315 $ 8,240 Liabilities 65,004 (6,704) 65,315 (8,240) Total $ 130,008 $ — $ 130,630 $ — Cash Flow Hedging Derivatives For derivative instruments that are designated and qualify as a cash flow hedge, the aggregate fair value of the derivative instrument is recorded in other assets or other liabilities with any gain or loss related to changes in fair value recorded in accumulated other comprehensive income, net of tax. The gain or loss is reclassified into earnings in the same period during which the hedged asset or liability affects earnings and is presented in the same income statement line item as the earnings effect of the hedged asset or liability. The Company utilizes cash flow hedges to manage interest rate exposure for the brokered deposit and wholesale borrowing portfolios. During the next 12 months, the Company estimates that $5.5 million will be reclassified to interest expense, as a reduction of the expense. The following table presents a summary of the Company’s interest rate swaps designated as cash flow hedges as of March 31, 2023 and December 31, 2022: (dollars in thousands) March 31, 2023 December 31, 2022 Notional Amount $ 183,000 $ 163,000 Weighted Average Pay Rate 2.00 % 1.90 % Weighted Average Receive Rate 4.66 % 3.47 % Weighted Average Maturity (Years) 4.80 5.15 Net Unrealized Gain $ 6,143 $ 9,175 The Company purchases interest rate caps, designated as cash flow hedges, of certain deposit liabilities. The interest rate caps require receipt of variable amounts from the counterparties when interest rates rise above the strike price in the contracts. For the three months ended March 31, 2023 and 2022, the company recognized amortization expense on the interest rate caps of $198,000 and $176,000, respectively, which was recorded as a component of interest expense on brokered deposits and FHLB advances. The following table presents a summary of the Company’s interest rate caps designated as cash flow hedges as of March 31, 2023 and December 31, 2022: (dollars in thousands) March 31, 2023 December 31, 2022 Notional Amount $ 125,000 $ 125,000 Unamortized Premium Paid 5,674 5,872 Weighted Average Strike Rate 0.96 % 0.96 % Weighted Average Maturity (Years) 7.10 7.35 The following table presents a summary of the Company’s interest rate contracts as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Notional Estimated Notional Estimated (dollars in thousands) Amount Fair Value Amount Fair Value Interest rate swap agreements: Assets $ 125,000 $ 8,868 $ 125,000 $ 10,477 Liabilities 58,000 (2,725) 38,000 (1,302) Interest rate cap agreements: Assets 125,000 17,004 125,000 19,406 The Company is party to collateral support agreements with certain derivative counterparties. These agreements require that the Company maintain collateral based on the fair values of derivative transactions. In the event of default by the Company, the counterparty would be entitled to the collateral. As of March 31, 2023 and December 31, 2022, the Company pledged no cash collateral for the Company’s derivative contracts. In addition, as of March 31, 2023 and December 31, 2022, the Company's counterparties pledged cash collateral to the Company of $31.3 million and $36.4 million, respectively. The following table summarizes gross and net information about derivative instruments that are eligible for offset in the balance sheet at March 31, 2023 and December 31, 2022: Gross Amounts Not Offset in the Balance Sheet Net Amounts of Gross Amounts Gross Amounts Assets (Liabilities) of Recognized Offset in the Presented in the Financial Cash Collateral Net Assets (dollars in thousands) Assets (Liabilities) Balance Sheet Balance Sheet Instruments Received (Paid) (Liabilities) As of March 31, 2023 Assets $ 32,576 $ — $ 32,576 $ — $ 31,303 $ 1,273 Liabilities (9,429) — (9,429) — — (9,429) As of December 31, 2022 Assets $ 38,123 $ — $ 38,123 $ — $ 36,353 $ 1,770 Liabilities (9,542) — (9,542) — — (9,542) The following table presents the effect of derivative instruments in cash flow hedging relationships on the consolidated statements of income for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Derivatives in Location of Gain (Loss) Gain (Loss) Cash Flow Hedging Reclassified Reclassified from Relationships from AOCI into Income AOCI into Earnings Interest rate swaps Interest expense $ 1,177 $ (247) Interest rate caps Interest expense (110) (176) No amounts were reclassified from accumulated other comprehensive income into net income related to hedge ineffectiveness for these derivatives during the three months ended March 31, 2023 and 2022, and no amounts are expected to be reclassified from accumulated other comprehensive income into net income related to hedge ineffectiveness over the next twelve months.

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances and Other Borrowings	3 Months Ended
Federal Home Loan Bank Advances and Other Borrowings	Mar. 31, 2023
Federal Home Loan Bank Advances and Other Borrowings
Federal Home Loan Bank Advances and Other Borrowings	Note 7: Federal Home Loan Bank Advances and Other Borrowings Federal Home Loan Bank Advances. The Company has entered into an Advances, Pledge, and Security Agreement with the FHLB whereby specific mortgage loans of the Bank with principal balances of $1.20 billion at March 31, 2023 and December 31, 2022, respectively, were pledged to the FHLB as collateral. FHLB advances are also secured with FHLB stock owned by the Company. Total remaining available capacity under the agreement was $246.8 million and $390.9 million at March 31, 2023 and December 31, 2022, respectively. The following table presents FHLB advances, by maturity, at March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Weighted Weighted Average Total Average Total (dollars in thousands) Rate Outstanding Rate Outstanding Less than 1 Year 4.77 % $ 115,500 4.30 % $ 83,000 1 to 2 Years 4.41 35,000 1.05 5,000 2 to 3 Years 4.32 22,500 1.22 5,000 3 to 4 Years 3.29 14,000 0.78 4,000 4 to 5 Years 4.18 10,000 — — Totals $ 197,000 $ 97,000 Line of Credit. On September 1, 2022, the Company entered into a second amendment to the agreement which increased the maximum principal amount of the Company’s revolving line of credit from $25.0 million to $40.0 million and extended the maturity date from February 28, 2023 to September 1, 2024. As of March 31, 2023 and December 31, 2022, there were $13.8 million outstanding balances under the revolving line of credit.

Subordinated Debentures

Subordinated Debentures	3 Months Ended
Subordinated Debentures	Mar. 31, 2023
Subordinated Debentures
Subordinated Debentures	Note 8: Subordinated Debentures The following table presents a summary of the Company’s subordinated debentures as of March 31, 2023: Total Debt Total Debt Date First Maturity Outstanding Outstanding Interest Name Established Redemption Date Date March 31, 2023 December 31, 2022 Rate Coupon Structure (dollars in thousands) 2030 Notes June 19, 2020 July 1, 2025 July 1, 2030 $ 50,000 $ 50,000 5.25 % Fixed-to-Floating (1) 2031 Notes July 8, 2021 July 15, 2026 July 15, 2031 30,000 30,000 3.25 % Fixed-to-Floating (2) Subordinated Debentures 80,000 80,000 Debt Issuance Costs (999) (1,095) Subordinated Debentures, Net of Issuance Costs $ 79,001 $ 78,905 (1) Migrates to three month term SOFR + 5.13% beginning July 1, 2025 until either the early redemption date or the maturity date. (2) Migrates to three month term SOFR + 2.52% beginning July 15, 2026 until either the early redemption date or the maturity date.

Commitments, Contingencies and

Commitments, Contingencies and Credit Risk	3 Months Ended
Commitments, Contingencies and Credit Risk	Mar. 31, 2023
Commitments, Contingencies and Credit Risk
Commitments, Contingencies and Credit Risk	Note 9: Commitments, Contingencies and Credit Risk Financial Instruments with Off-Balance Sheet Credit Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss is represented by the contractual, or notional, amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance sheet instruments. Since some of the commitments are expected to expire without being drawn upon and some of the commitments may not be drawn upon to the total extent of the commitment, the notional amount of these commitments does not necessarily represent future cash requirements. The following commitments were outstanding at March 31, 2023 and December 31, 2022: March 31, December 31, (dollars in thousands) 2023 2022 Unfunded Commitments Under Lines of Credit $ 709,213 $ 848,734 Letters of Credit 123,025 115,769 Totals $ 832,238 $ 964,503 The Company had outstanding letters of credit with the FHLB in total amounts of $62.9 million and $78.4 million at March 31, 2023 and December 31, 2022, respectively, on behalf of customers and to secure public deposits. The ACL for off-balance sheet credit exposures was $4.3 million at March 31, 2023 and is separately classified on the balance sheet within other liabilities. Prior to the adoption of CECL, the Company’s ACL for off-balance sheet credit exposures was not material. The following table presents the balance and activity in the allowance for credit losses for off-balance sheet credit exposures for the three months ended March 31, 2023: Three Months Ended (dollars in thousands) March 31, 2023 Allowance for Credit Losses: Beginning Balance, Prior to Adoption of CECL $ 360 Impact of Adopting CECL 4,850 Provision (Credit) for Off-Balance Sheet Credit Exposures (875) Total Ending Balance $ 4,335 Legal Contingencies Neither the Company nor any of its subsidiaries is a party, and no property of these entities is subject, to any material pending legal proceedings, other than ordinary routine litigation incidental to the Bank’s business. The Company does not know of any proceeding contemplated by a governmental authority against the Company or any of its subsidiaries.

Stock Options and Restricted St

Stock Options and Restricted Stock	3 Months Ended
Stock Options and Restricted Stock	Mar. 31, 2023
Stock Options and Restricted Stock
Stock Options and Restricted Stock	Note 10: Stock Options and Restricted Stock In 2012, the Company adopted the Bridgewater Bancshares, Inc. 2012 Combined Incentive and Non-Statutory Stock Option Plan (the “2012 Plan”) under which the Company was able to grant options to its directors, officers, and employees for up to 750,000 shares of common stock. Both incentive stock options and nonqualified stock options were granted under the 2012 Plan. The exercise price of each option equals the fair market value of the Company’s stock on the date of grant, and the maximum term of each outstanding option is ten years. All outstanding options have been granted with vesting periods of five years. The 2012 Plan expired in March 2022, and awards are no longer able to be granted under the 2012 Plan. In 2017, the Company adopted the Bridgewater Bancshares, Inc. 2017 Combined Incentive and Non-Statutory Stock Option Plan (the “2017 Plan”). Under the 2017 Plan, the Company may grant options to its directors, officers, employees and consultants for up to 1,500,000 shares of common stock. Both incentive stock options and nonqualified stock options may be granted under the 2017 Plan. The exercise price of each option equals the fair market value of the Company’s stock on the date of grant and the maximum term of each outstanding option is ten years. All outstanding options have been granted with vesting periods of four In 2019, the Company adopted the Bridgewater Bancshares, Inc. 2019 Equity Incentive Plan (the “2019 EIP”). Under the 2019 EIP, the Company may grant incentive and nonqualified stock options, stock appreciation rights, stock awards, restricted stock units, restricted stock and cash incentive awards. The Company may grant these awards to its directors, officers, employees and certain other service providers for up to 1,000,000 shares of common stock. The exercise price of each option equals the fair market value of the Company’s stock on the date of grant and the maximum term of each award is ten years. All outstanding awards have been granted with a vesting period of four years. As of March 31, 2023 and December 31, 2022, there were 137,786 and 231,363 shares, respectively, of the Company’s common stock reserved for future grants under the 2019 EIP. Stock Options The fair value of each option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. The following table presents a summary of the status of the Company’s stock option grants for the three months ended March 31, 2023: March 31, 2023 Weighted Average Shares Exercise Price Outstanding at Beginning of Year 1,913,444 $ 9.35 Granted — — Exercised (82,000) 3.19 Forfeitures (2,000) 7.47 Outstanding at Period End 1,829,444 $ 9.63 Options Exercisable at Period End 1,488,819 $ 8.26 For the three months ended March 31, 2023 and 2022, the Company recognized compensation expense for stock options of $186,000 and $288,000, respectively. The following table presents information pertaining to options outstanding at March 31, 2023: Options Outstanding Options Exercisable Weighted Average Number of Weighted Average Remaining Contractual Number of Weighted Average Range of Exercise Prices Options Exercise Price Life in Years Options Exercise Price $ 2.13 - 3.99 228,500 $ 3.05 0.8 228,500 $ 3.05 7.00 - 7.99 899,416 7.47 4.5 899,416 7.47 8.00 - 8.99 17,500 8.76 7.0 5,000 8.76 10.00 - 10.99 10,000 10.08 7.2 5,000 10.08 11.00 - 11.99 85,000 11.27 6.1 58,000 11.29 12.00 - 12.99 263,528 12.90 6.4 197,778 12.90 13.00 - 13.99 25,000 13.22 5.1 20,000 13.22 17.00 - 17.99 300,500 17.50 8.8 75,125 17.50 Totals 1,829,444 $ 9.63 5.1 1,488,819 $ 8.26 As of March 31, 2023, there was $1.4 million of total unrecognized compensation cost related to nonvested stock options granted under the 2012 Plan, 2017 Plan and 2019 EIP that is expected to be recognized over a weighted-average period of 2.5 years. The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the three months ended March 31, 2023: Weighted Number of Average Grant Shares Date Fair Value Nonvested Options at December 31, 2022 421,375 $ 4.87 Granted — — Vested (80,750) 5.05 Forfeited — — Nonvested Options at March 31, 2023 340,625 $ 4.83 Restricted Stock Awards In 2019 and 2020, the Company granted restricted stock awards out of the 2019 EIP. These awards vest in equal annual installments on the first four The following table presents an analysis of nonvested restricted stock awards outstanding for the three months ended March 31, 2023: Weighted Number of Average Grant Shares Date Fair Value Nonvested Awards at December 31, 2022 38,762 $ 12.50 Granted — — Vested (986) 12.67 Forfeited — — Nonvested Awards at March 31, 2023 37,776 $ 12.49 Compensation expense associated with the restricted stock awards is recognized on a straight-line basis over the period that the restrictions associated with the awards lapse based on the total cost of the award at the grant date. For the three months ended March 31, 2023 and 2022, the Company recognized compensation expense for restricted stock awards of $111,000 and $111,000, respectively. As of March 31, 2023, there was $322,000 of total unrecognized compensation cost related to nonvested restricted stock awards granted under the 2019 EIP that is expected to be recognized over a weighted-average period of 0.7 years. In addition, during the three months ended March 31, 2023, the Company issued 10,608 shares of unrestricted common stock to non-employee directors, as a part of their compensation for their annual services on the Company’s board of directors. The aggregate value of the shares issued to non-employee directors of $115,000 was included in stock based compensation expense in the accompanying consolidated statements of shareholders’ equity. Restricted Stock Units In 2020, the Company began granting restricted stock units out of the 2019 EIP. Restricted stock units granted out of the 2019 EIP represent the right to receive one share of Company stock upon vesting and vest in equal annual installments on the first four The following table presents an analysis of nonvested restricted stock units outstanding for the three months ended March 31, 2023: Weighted Number of Average Grant Units Date Fair Value Nonvested Units at December 31, 2022 351,310 $ 16.30 Granted 82,969 15.59 Vested (1,625) 15.77 Forfeited — — Nonvested Units at March 31, 2023 432,654 $ 16.17 Compensation expense associated with the restricted stock units is recognized on a straight-line basis over the period that the restrictions associated with the units lapse based on the total cost of the unit at the grant date. For the three months ended March 31, 2023 and 2022, the Company recognized compensation expense for restricted stock units of $529,000 and $353,000, respectively. As of March 31, 2023, there was $6.3 million of total unrecognized compensation cost related to nonvested restricted stock units granted under the 2019 EIP that is expected to be recognized over a weighted-average period of 3.0 years.

Regulatory Capital

Regulatory Capital	3 Months Ended
Regulatory Capital	Mar. 31, 2023
Regulatory Capital
Regulatory Capital	Note 11: Regulatory Capital The Company and the Bank are subject to various regulatory requirements administered by federal banking agencies. 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 financial statements. Under capital adequacy guidelines, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank must also meet certain specific capital guidelines under the regulatory framework for prompt corrective action. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios of common equity Tier 1 capital, Tier 1 capital and total capital to risk-weighted assets and of Tier 1 capital to average consolidated assets (referred to as the “leverage ratio”), as defined under the applicable regulatory capital rules. The following tables present the capital amounts and ratios for the Company, on a consolidated basis, and the Bank as of March 31, 2023 and December 31, 2022: Minimum Required For Capital Adequacy To be Well Capitalized For Capital Adequacy Purposes Plus Capital Under Prompt Corrective Actual Purposes Conservation Buffer Action Regulations (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio March 31, 2023 Company (Consolidated): Total Risk-based Capital $ 547,764 13.25 % $ 330,826 8.00 % $ 434,210 10.50 % N/A N/A Tier 1 Risk-based Capital 417,037 10.08 248,120 6.00 351,503 8.50 N/A N/A Common Equity Tier 1 Capital 350,523 8.48 186,090 4.50 289,473 7.00 N/A N/A Tier 1 Leverage Ratio 417,037 9.41 177,320 4.00 177,320 4.00 N/A N/A Bank: Total Risk-based Capital $ 521,610 12.62 % $ 330,694 8.00 % $ 434,036 10.50 % $ 413,368 10.00 % Tier 1 Risk-based Capital 469,904 11.37 248,021 6.00 351,363 8.50 330,694 8.00 Common Equity Tier 1 Capital 469,904 11.37 186,015 4.50 289,357 7.00 268,689 6.50 Tier 1 Leverage Ratio 469,904 10.61 177,094 4.00 177,094 4.00 221,368 5.00 Minimum Required For Capital Adequacy To be Well Capitalized For Capital Adequacy Purposes Plus Capital Under Prompt Corrective Actual Purposes Conservation Buffer Action Regulations (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2022 Company (Consolidated): Total Risk-based Capital $ 536,352 13.15 % $ 326,190 8.00 % $ 428,125 10.50 % N/A N/A Tier 1 Risk-based Capital 409,092 10.03 244,643 6.00 346,577 8.50 N/A N/A Common Equity Tier 1 Capital 342,578 8.40 183,482 4.50 285,417 7.00 N/A N/A Tier 1 Leverage Ratio 409,092 9.55 171,368 4.00 171,368 4.00 N/A N/A Bank: Total Risk-based Capital $ 508,760 12.47 % $ 326,288 8.00 % $ 428,253 10.50 % $ 407,860 10.00 % Tier 1 Risk-based Capital 460,404 11.29 244,716 6.00 346,681 8.50 326,288 8.00 Common Equity Tier 1 Capital 460,404 11.29 183,537 4.50 285,502 7.00 265,109 6.50 Tier 1 Leverage Ratio 460,404 10.76 171,113 4.00 171,113 4.00 213,891 5.00 The Company and the Bank must maintain a capital conservation buffer, as defined by regulatory guidelines, in order to avoid limitations on capital distributions, including dividend payments, stock repurchases and certain discretionary bonus payments to executive officers.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
Fair Value Measurement	Mar. 31, 2023
Fair Value Measurement
Fair Value Measurement	Note 12: Fair Value Measurement The Company categorizes its assets and liabilities measured at fair value into a three-level hierarchy based on the priority of the inputs to the valuation technique used to determine fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used in the determination of the fair value measurement fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement. Assets and liabilities valued at fair value are categorized based on the inputs to the valuation techniques as follows: Level 1 – Inputs that utilized quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 – Inputs that include quoted prices for similar assets and liabilities in active markets and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instruments. Fair values for these instruments are estimated using pricing models, quoted prices of securities with similar characteristics, or discounted cash flows. Level 3 – Inputs that are unobservable for the asset or liability, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. Subsequent to initial recognition, the Company may re-measure the carrying value of assets and liabilities measured on a nonrecurring basis to fair value. Adjustments to fair value usually result when certain assets are impaired. Such assets are written down from their carrying amounts to their fair value. Professional standards allow entities the irrevocable option to elect to measure certain financial instruments and other items at fair value for the initial and subsequent measurement on an instrument-by-instrument basis. The Company adopted the policy to value certain financial instruments at fair value. The Company has not elected to measure any existing financial instruments at fair value; however, it may elect to measure newly acquired financial instruments at fair value in the future. Recurring Basis The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following tables present the balances of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022: March 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Total Fair Value of Financial Assets: Securities Available for Sale: U.S. Treasury Securities $ 2,739 $ — $ — $ 2,739 Municipal Bonds — 126,598 — 126,598 Mortgage-Backed Securities — 227,238 — 227,238 Corporate Securities — 117,895 — 117,895 SBA Securities — 30,799 — 30,799 Asset-Backed Securities — 54,161 — 54,161 Interest Rate Caps — 17,004 — 17,004 Interest Rate Swaps — 15,572 — 15,572 Total Fair Value of Financial Assets $ 2,739 $ 589,267 $ — $ 592,006 Fair Value of Financial Liabilities: Interest Rate Swaps $ — $ 9,429 $ — $ 9,429 Total Fair Value of Financial Liabilities $ — $ 9,429 $ — $ 9,429 December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Total Fair Value of Financial Assets: Securities Available for Sale: U.S. Treasury Securities $ 2,580 $ — $ — $ 2,580 Municipal Bonds — 131,354 — 131,354 Mortgage-Backed Securities — 237,784 — 237,784 Corporate Securities — 109,827 — 109,827 SBA Securities — 20,877 — 20,877 Asset-Backed Securities — 46,191 — 46,191 Interest Rate Caps — 19,406 — 19,406 Interest Rate Swaps — 18,717 — 18,717 Total Fair Value of Financial Assets $ 2,580 $ 584,156 $ — $ 586,736 Fair Value of Financial Liabilities: Interest Rate Swaps $ — $ 9,542 $ — $ 9,542 Total Fair Value of Financial Liabilities $ — $ 9,542 $ — $ 9,542 Investment Securities When available, the Company uses quoted market prices to determine the fair value of investment securities; such items are classified in Level 1 of the fair value hierarchy. For the Company’s investments, when quoted prices are not available for identical securities in an active market, the Company determines fair value utilizing vendors who apply matrix pricing for similar bonds where no price is observable or may compile prices from various sources. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, prepayment speeds, default rates, loss severity, current market, and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially, all of these assumptions are observable in the marketplace and can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Fair values from these models are verified, where possible, against quoted market prices for recent trading activity of assets with similar characteristics to the security being valued. Such methods are generally classified as Level 2. However, when prices from independent sources vary, or cannot be obtained or corroborated, a security is generally classified as Level 3. Interest Rate Caps Interest Rate Swaps Interest rate swaps are traded in over-the-counter markets where quoted market prices are not readily available. For those interest rate swaps, fair value is determined using internally developed models of a third party that uses primarily market observable inputs, such as yield curves and option volatilities, and accordingly are valued using Level 2 inputs. Nonrecurring Basis Certain assets are measured at fair value on a nonrecurring basis. These assets are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment or a change in the amount of previously recognized impairment. The following tables present net impairment losses related to nonrecurring fair value measurements of certain assets at March 31, 2023 and December 31, 2022: March 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Loss Individually Evaluated Loans $ $ 94 $ $ 76 Totals $ — $ 94 $ — $ 76 December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Loss Impaired Loans $ — $ 96 $ — $ 71 Totals $ — $ 96 $ — $ 71 Individually Evaluated Loans (Impaired Loans prior to January 1, 2023) In accordance with the provisions of the individually evaluated loan guidance, credit loss is measured on loans when it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement. The Company has elected to use the practical expedient to measure individually evaluated loans as collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The credit loss is measured as the difference between the amortized cost basis of the loan and the fair value of the underlying collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale of the collateral. Those individually evaluated loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceeds the recorded investments in such loans. Individually evaluated loans for which an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. Collateral values are estimated using Level 2 inputs based on customized discounting criteria. Credit loss amounts on individually evaluated loans represent specific valuation allowance and write-downs during the period presented that were individually evaluated for impairment based on the estimated fair value of the collateral less estimated selling costs, excluding impaired loans fully charged-off. Fair Value Disclosure of fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the consolidated balance sheets. In cases where quoted market prices are not available, fair values are based on estimates using present value of cash flow or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimate of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases could not be realized in immediate settlement of the instruments. Certain financial instruments with a fair value that is not practicable to estimate and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value of the Company. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters that could affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business. Deposits with no stated maturities are defined as having a fair value equivalent to the amount payable on demand. This prohibits adjusting fair value derived from retaining those deposits for an expected future period of time. This component, commonly referred to as a deposit base intangible, is neither considered in the above amounts nor is it recorded as an intangible asset on the balance sheet. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. The following tables present the carrying amount and estimated fair values of financial instruments at March 31, 2023 and December 31, 2022: March 31, 2023 Fair Value Hierarchy Carrying Estimated (dollars in thousands) Amount Level 1 Level 2 Level 3 Fair Value Financial Assets: Cash and Due From Banks $ 209,192 $ 209,192 $ — $ — $ 209,192 Bank-Owned Certificates of Deposit 1,225 — 1,230 — 1,230 Securities Available for Sale 559,430 2,739 556,691 — 559,430 FHLB Stock, at Cost 28,632 — 28,632 — 28,632 Loans, Net 3,625,477 — 3,502,472 — 3,502,472 Accrued Interest Receivable 13,377 — 13,377 — 13,377 Interest Rate Caps 17,004 — 17,004 — 17,004 Interest Rate Swaps 15,572 — 15,572 — 15,572 Financial Liabilities: Deposits $ 3,411,123 $ — $ 3,394,288 $ — $ 3,394,288 Federal Funds Purchased 437,000 — 437,000 — 437,000 Notes Payable 13,750 — 13,928 — 13,928 FHLB Advances 197,000 — 198,074 — 198,074 Subordinated Debentures 79,001 — 73,429 — 73,429 Accrued Interest Payable 3,257 — 3,257 — 3,257 Interest Rate Swaps 9,429 — 9,429 — 9,429 December 31, 2022 Fair Value Hierarchy Carrying Estimated (dollars in thousands) Amount Level 1 Level 2 Level 3 Fair Value Financial Assets: Cash and Due From Banks $ 87,043 $ 87,043 $ — $ — $ 87,043 Bank-Owned Certificates of Deposit 1,181 — 1,173 — 1,173 Securities Available for Sale 548,613 2,580 546,033 — 548,613 FHLB Stock, at Cost 19,606 — 19,606 — 19,606 Loans, Net 3,512,157 — 3,314,190 — 3,314,190 Accrued Interest Receivable 13,479 — 13,479 — 13,479 Interest Rate Caps 19,406 — 19,406 — 19,406 Interest Rate Swaps 18,717 — 18,717 — 18,717 Financial Liabilities: Deposits $ 3,416,543 $ — $ 3,390,416 $ — $ 3,390,416 Federal Funds Purchased 287,000 — 287,000 — 287,000 Notes Payable 13,750 — 13,473 — 13,473 FHLB Advances 97,000 — 96,061 — 96,061 Subordinated Debentures 78,905 — 70,931 — 70,931 Accrued Interest Payable 2,831 — 2,831 — 2,831 Interest Rate Swaps 9,542 — 9,542 — 9,542 The following methods and assumptions were used by the Company to estimate fair value of consolidated financial statements not previously discussed. Cash and due from banks Bank-owned certificates of deposit FHLB stock Loans, net Accrued interest receivable Deposits Federal funds purchased FHLB advances Subordinated debentures Accrued interest payable Off-balance sheet instruments Limitations

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2023
Subsequent Events
Subsequent Events	Note 13: Subsequent Events On April 26, 2023, the Company’s Board of Directors declared a quarterly cash dividend of $36.72 per share ($0.3672 per depositary share) on its 5.875% Non-Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”), payable on June 1, 2023, to shareholders of record on the Series A Preferred Stock at the close of business on May 15, 2023. On April 25, 2023, the Company’s shareholders approved the Bridgewater Bancshares, Inc. 2023 Equity Incentive Plan (the “2023 Plan”). Under the 2023 Plan, the Company may issue various types of equity awards including, but not limited to, incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock and stock-based awards, as well as cash-based awards to its directors, officers, and employees for up to 1,500,000 shares of common stock. There are currently no awards outstanding under the 2023 Plan. On April 25, 2023, the Company’s shareholders approved the Third Amendment and Restatement of the Company’s Articles of Incorporation and Second Amendment and Restatement of the Company's Bylaws to declassify the Company’s board of directors and increase the maximum number of directors of the Company from eleven (11) to fifteen (15). The Third Amended and Restated Articles of Incorporation became effective on April 26, 2023 upon filing with the Minnesota Secretary of State. On April 12, 2023, the Company purchased a parcel of land in Lake Elmo, Minnesota, intended for the future development and construction of a branch location. The purchase price for the parcel was

Description of the Business a_2

Description of the Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Description of the Business and Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of the consolidated balance sheets, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of shareholders’ equity and consolidated statements of cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, all normal recurring adjustments which are, in the opinion of management, necessary for the fair presentation of the interim financial statements have been included. The results of operations for the three-month period ended March 31, 2023 are not necessarily indicative of the results which may be expected for the entire year. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 7, 2023.
Principles of Consolidation	Principles of Consolidation These consolidated financial statements include the amounts of the Company, the Bank, with locations in Bloomington, Greenwood, Minneapolis (2), St. Louis Park, Orono, and St. Paul, Minnesota, BWB Holdings, LLC, Bridgewater Investment Management, Inc., and Bridgewater Risk Management, Inc. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Information available which could affect judgements includes, but is not limited to, changes in interest rates, changes in the performance of the economy, including rising inflation and ongoing COVID-19 pandemic related changes, and changes in the financial condition of borrowers. Material estimates that are particularly susceptible to significant change in the near term include the determination of the allowance for credit losses, calculation of deferred tax assets, fair value of financial instruments, and investment securities impairment.
Allowance for Credit Losses - Securities Available for Sale	Securities Available for Sale For any securities classified as available for sale that are in an unrealized loss position at the balance sheet date, the Company assesses whether or not it intends to sell the security, or if it is more likely than not it will be required to sell the security, before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is written down to fair value through income with the establishment of an allowance. For securities that do not meet the aforementioned criteria, the Company evaluates whether any portion of the decline in fair value is the result of credit deterioration. In making this assessment, management considers the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security, among other factors. If the assessment indicates that a credit loss exists, an allowance for credit losses, or ACL, is recorded for the amount by which the amortized cost basis of the security exceeds the present value of cash flows expected to be collected, limited by the amount by which the amortized cost exceeds fair value. Any impairment not recognized in the allowance for credit losses is recognized in other comprehensive income. Changes in the ACL on securities are recorded as a provision for (or reversal of) credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of a security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Accrued interest receivable on securities available for sale is excluded from the estimate of credit losses.
Allowance for Credit Losses - Loans	Loans The ACL on loans is a valuation account that is deducted from the amortized cost basis of loans to present the net amount expected to be collected on loans over their contractual life. The contractual term does not consider extensions, renewals or modifications. Loans are charged off against the ACL on loans when management believes the uncollectibility of a loan balance has been confirmed. Recoveries do not exceed the aggregate of amounts previously charged off or expected to be charged off. Subsequent recoveries, if any, are credited to the ACL on loans. The ACL on loans is measured on a collective or pooled basis when similar risk characteristics exist. The Company’s pooling method is primarily based on loan purpose and collateral type and generally follows the Company’s loan segmentation for regulatory reporting. The Company has identified the following pools of loans with similar risk characteristics for measuring the ACL on loans: Commercial: Paycheck Protection Program (PPP): Construction and Land Development: 1-4 Family Construction: 1-4 Family Mortgage: Multifamily: Commercial Real Estate (CRE) Owner Occupied: Commercial Real Estate (CRE) Nonowner Occupied: Consumer and Other: Management assesses the adequacy of the ACL on loans on a quarterly basis. Management estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The Company uses the weighted-average remaining maturity, or WARM method as the basis for estimating expected credit losses. The WARM method uses a historical average annual charge off rate. This average annual charge off rate contains loss content over a historical lookback period and is used as a foundation for estimating the ACL on loans for the remaining outstanding balances of loans by segment at the balance sheet date. The average annual charge off rate is applied to the contractual term, further adjusted for estimated prepayments, to determine the unadjusted historical charge off rate. The calculation of the unadjusted historical charge off rate is then adjusted for current conditions and for reasonable and supportable forecast periods through qualitative factors prior to being applied to the current balance of the loan segments. Accrued interest receivable on loans available for sale is excluded from the estimate of credit losses. Forecast adjustments to the historical loss rate are based on a forecast of the U.S. national unemployment rate, a forecast of the difference between the 10-year and 3-month treasury rates, and the most recent available BBB rated corporate bond spreads to U.S. Treasury securities, or BBB Spread. The forecast overlay adjustment for the reasonable and supportable forecast assumes an immediate reversion after a one-year forecast period to historical loss rates for the remaining life of the respective loan segment. Qualitative factors are used to cover losses that are expected but, in the Company’s assessment, may not be adequately represented in the quantitative analysis or the forecasts described above. These qualitative factors serve to compensate for additional areas of uncertainty inherent in the portfolio that are not reflected in the historic loss factors. Each qualitative loss factor, for each loan segment within the portfolio, incorporates consideration for a minimum to maximum range for loss factors. These qualitative factor adjustments may increase or decrease the Company’s estimate of expected credit losses and are applied to each loan segment. The qualitative factors applied to each loan segment include changes in lending policies and procedures, general economic and business conditions, the nature, volume and terms of loans, the experience, depth and ability of lending staff, the quality of the loan review function, the value of underlying collateral, competition, legal and regulatory factors, the volume and severity of watchlist and past due loans, and the level of concentrations. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the pooled evaluation and typically represent collateral dependent loans but may also include other nonperforming loans or modifications. The Company has elected to use the practical expedient to measure individually evaluated loans as collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The credit loss is measured as the difference between the amortized cost basis of the loan and the fair value of the underlying collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale of the collateral. Management may also adjust its assumptions to account for differences between expected and actual losses from period to period. The variability of management’s assumptions could alter the ACL on loans materially and impact future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced.
Allowance for Credit Losses - Off-balance Sheet Credit Exposures	Off-Balance Sheet Credit Exposures The Company maintains a separate ACL on off-balance sheet credit exposures, including unfunded loan commitments, financial guarantees, and letters of credit, which is included in other liabilities on the consolidated balance sheet, unless the obligation is unconditionally cancellable. The ACL on off-balance sheet credit exposures is adjusted as a provision for (or reversal of) credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over the estimated life of such commitments. The allowance is calculated using the same aggregate reserve rates calculated for the funded portion of the loan segment and applied to the amount of commitments expected to fund.
Impact of Recent Accounting Standards	Impact of Recently Adopted Accounting Guidance On January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13 “ Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments,” The Company adopted CECL using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under CECL while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a net decrease to retained earnings of $3.9 million as of January 1, 2023 for the cumulative effect of adopting CECL. The transition adjustment included a $650,000 impact due to the increase in ACL related to loans, a $4.8 million impact due the establishment of the allowance for off-balance sheet credit exposures, and a $1.6 million impact on deferred taxes. The following table presents the impact of adopting CECL: January 1, 2023 Impact of As Reported (dollars in thousands) Pre-CECL Adoption CECL Adoption Under CECL Assets: Loans Commercial $ 6,500 $ (1,157) $ 5,343 Paycheck Protection Program 1 (1) — Construction and Land Development 3,911 (1,070) 2,841 1-4 Family Construction 845 (235) 610 Real Estate Mortgage: 1-4 Family Mortgage 4,325 (1,778) 2,547 Multifamily 17,459 3,318 20,777 CRE Owner Occupied 1,965 (943) 1,022 CRE Nonowner Occupied 12,576 2,869 15,445 Consumer and Other 151 (90) 61 Unallocated 263 (263) — Allowance for Credit Losses on Loans $ 47,996 $ 650 $ 48,646 Liabilities: Allowance for Credit Losses on Off-balance Sheet Credit Exposures $ 360 $ 4,850 $ 5,210 In March 2022, the Company issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. Receivables – Troubled Debt Restructurings by Creditors, Impact of Recently Issued Accounting Guidance In March 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-01, Leases (Topic 842): Common Control Arrangements In March 2023, the FASB issued ASU No. 2023-02, Investments Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method
Subsequent Events	Subsequent Events Subsequent events have been evaluated through May 4, 2023, which is the date the consolidated financial statements were available to be issued.

Description of the Business a_3

Description of the Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Description of the Business and Summary of Significant Accounting Policies
Schedule of impact of adopting CECL	The following table presents the impact of adopting CECL: January 1, 2023 Impact of As Reported (dollars in thousands) Pre-CECL Adoption CECL Adoption Under CECL Assets: Loans Commercial $ 6,500 $ (1,157) $ 5,343 Paycheck Protection Program 1 (1) — Construction and Land Development 3,911 (1,070) 2,841 1-4 Family Construction 845 (235) 610 Real Estate Mortgage: 1-4 Family Mortgage 4,325 (1,778) 2,547 Multifamily 17,459 3,318 20,777 CRE Owner Occupied 1,965 (943) 1,022 CRE Nonowner Occupied 12,576 2,869 15,445 Consumer and Other 151 (90) 61 Unallocated 263 (263) — Allowance for Credit Losses on Loans $ 47,996 $ 650 $ 48,646 Liabilities: Allowance for Credit Losses on Off-balance Sheet Credit Exposures $ 360 $ 4,850 $ 5,210

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2023
Earnings Per Share
Schedule of numerators and denominators for basic and diluted earnings per share computations	The following table presents the numerators and denominators for basic and diluted earnings per share computations for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands, except per share data) 2023 2022 Net Income Available to Common Shareholders $ 10,629 $ 11,249 Weighted Average Common Stock Outstanding: Weighted Average Common Stock Outstanding (Basic) 27,726,894 28,123,809 Dilutive Effect of Stock Compensation 763,152 1,032,276 Weighted Average Common Stock Outstanding (Dilutive) 28,490,046 29,156,085 Basic Earnings per Common Share $ 0.38 $ 0.40 Diluted Earnings per Common Share 0.37 0.39

Securities (Tables)

Securities (Tables)	3 Months Ended
Securities (Tables)	Mar. 31, 2023
Securities
Summary of the amortized cost and estimated fair value of securities with gross unrealized gains and losses	The following tables present the amortized cost and estimated fair value of securities with gross unrealized gains and losses at March 31, 2023 and December 31, 2022: March 31, 2023 Gross Gross Amortized Unrealized Unrealized (dollars in thousands) Cost Gains Losses Fair Value Securities Available for Sale: U.S. Treasury Securities $ 2,762 $ 4 $ (27) $ 2,739 Municipal Bonds 146,810 5 (20,217) 126,598 Mortgage-Backed Securities 240,517 2,376 (15,655) 227,238 Corporate Securities 127,170 42 (9,317) 117,895 SBA Securities 30,331 605 (137) 30,799 Asset-Backed Securities 54,424 234 (497) 54,161 Total Securities Available for Sale $ 602,014 $ 3,266 $ (45,850) $ 559,430 December 31, 2022 Gross Gross Amortized Unrealized Unrealized (dollars in thousands) Cost Gains Losses Fair Value Securities Available for Sale: U.S. Treasury Securities $ 2,621 $ — $ (41) $ 2,580 Municipal Bonds 156,506 62 (25,214) 131,354 Mortgage-Backed Securities 252,919 2,465 (17,600) 237,784 Corporate Securities 116,871 45 (7,089) 109,827 SBA Securities 20,957 79 (159) 20,877 Asset-Backed Securities 46,623 188 (620) 46,191 Total Securities Available for Sale $ 596,497 $ 2,839 $ (50,723) $ 548,613
Summary of fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position	The following tables present the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2023 and December 31, 2022: Less Than 12 Months 12 Months or Greater Total Number of Unrealized Unrealized Unrealized (dollars in thousands, except number of holdings) Holdings Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2023 U.S. Treasury Securities 5 $ 2,762 $ (27) $ — $ — $ 2,762 $ (27) Municipal Bonds 212 22,283 (758) 101,927 (19,459) 124,210 (20,217) Mortgage-Backed Securities 124 60,388 (2,220) 103,245 (13,435) 163,633 (15,655) Corporate Securities 106 82,071 (4,981) 31,507 (4,336) 113,578 (9,317) SBA Securities 48 1,964 (6) 8,826 (131) 10,790 (137) Asset-Backed Securities 25 26,662 (246) 11,182 (251) 37,844 (497) Total Securities Available for Sale 520 $ 196,130 $ (8,238) $ 256,687 $ (37,612) $ 452,817 $ (45,850) Less Than 12 Months 12 Months or Greater Total Number of Unrealized Unrealized Unrealized (dollars in thousands, except number of holdings) Holdings Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2022 U.S. Treasury Securities 6 $ 2,330 $ (41) $ — $ — $ 2,330 $ (41) Municipal Bonds 225 59,912 (5,321) 69,424 (19,893) 129,336 (25,214) Mortgage-Backed Securities 130 123,224 (5,427) 62,882 (12,173) 186,106 (17,600) Corporate Securities 100 88,486 (5,121) 17,054 (1,968) 105,540 (7,089) SBA Securities 49 2,498 (6) 9,750 (153) 12,248 (159) Asset-Backed Securities 20 21,919 (396) 6,186 (224) 28,105 (620) Total Securities Available for Sale 530 $ 298,369 $ (16,312) $ 165,296 $ (34,411) $ 463,665 $ (50,723)
Schedule of contractual maturities of debt	The following table presents a summary of amortized cost and estimated fair value of debt securities by the lesser of expected call date or contractual maturity as of March 31, 2023. Call date is used when a call of the debt security is expected, as determined by the Company when the security has a market value above its amortized cost. Contractual maturities will differ from expected maturities for mortgage-backed, SBA securities and asset-backed securities because borrowers may have the right to call or prepay obligations without penalties. (dollars in thousands) Amortized Cost Fair Value March 31, 2023 Due in One Year or Less $ 5,331 $ 5,328 Due After One Year Through Five Years 34,902 33,134 Due After Five Years Through 10 Years 165,874 151,432 Due After 10 Years 70,635 57,338 Subtotal 276,742 247,232 Mortgage-Backed Securities 240,517 227,238 SBA Securities 30,331 30,799 Asset-Backed Securities 54,424 54,161 Totals $ 602,014 $ 559,430
Summary of the proceeds from sales of securities available for sale, as well as gross gains and losses	The following table presents a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Proceeds From Sales of Securities $ 19,959 $ — Gross Gains on Sales 197 — Gross Losses on Sales (253) —

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses (Tables)	3 Months Ended
Loans and Allowance for Credit Losses (Tables)	Mar. 31, 2023
Loans and Allowance for Credit Losses
Summary of components of loans	The following table presents the components of the loan portfolio at March 31, 2023 and December 31, 2022: March 31, December 31, (dollars in thousands) 2023 2022 Commercial $ 454,193 $ 435,344 Paycheck Protection Program 963 1,049 Construction and Land Development 312,277 295,554 1-4 Family Construction 85,797 70,242 Real Estate Mortgage: 1-4 Family Mortgage 380,210 355,474 Multifamily 1,320,081 1,306,738 CRE Owner Occupied 158,650 149,905 CRE Nonowner Occupied 962,671 947,008 Total Real Estate Mortgage Loans 2,821,612 2,759,125 Consumer and Other 9,518 8,132 Total Loans, Gross 3,684,360 3,569,446 Allowance for Credit Losses (50,148) (47,996) Net Deferred Loan Fees (8,735) (9,293) Total Loans, Net $ 3,625,477 $ 3,512,157
Summary of aging in past due loans and nonaccrual status, with and without an ACL, by loan segment	The following tables present the aging in past due loans and nonaccrual status, with and without an ACL, by loan segment as of March 31, 2023 and December 31, 2022: Accruing Interest 30-89 Days 90 Days or Nonaccrual Nonaccrual (dollars in thousands) Current Past Due More Past Due with ACL without ACL Total March 31, 2023 Commercial $ 454,092 $ 21 $ — $ 80 $ — $ 454,193 Paycheck Protection Program 963 — — — — 963 Construction and Land Development 312,177 — — — 100 312,277 1-4 Family Construction 85,797 — — — — 85,797 Real Estate Mortgage: 1-4 Family Mortgage 380,210 — — — — 380,210 Multifamily 1,320,081 — — — — 1,320,081 CRE Owner Occupied 158,137 — — — 513 158,650 CRE Nonowner Occupied 962,671 — — — — 962,671 Consumer and Other 9,518 — — — — 9,518 Totals $ 3,683,646 $ 21 $ — $ 80 $ 613 $ 3,684,360 Accruing Interest 30-89 Days 90 Days or Nonaccrual Nonaccrual (dollars in thousands) Current Past Due More Past Due with ACL without ACL Total December 31, 2022 Commercial $ 435,274 $ 70 $ — $ — $ — $ 435,344 Paycheck Protection Program 1,049 — — — — 1,049 Construction and Land Development 295,448 — — — 106 295,554 1-4 Family Construction 70,242 — — — — 70,242 Real Estate Mortgage: HELOC and 1-4 Family Junior Mortgage 36,875 — — — — 36,875 1st REM - 1-4 Family 50,945 — — — — 50,945 LOCs and 2nd REM - Rentals 27,985 — — — — 27,985 1st REM - Rentals 239,553 116 — — — 239,669 Multifamily 1,306,738 — — — — 1,306,738 CRE Owner Occupied 149,372 — — — 533 149,905 CRE Nonowner Occupied 947,008 — — — — 947,008 Consumer and Other 8,132 — — — — 8,132 Totals $ 3,568,621 $ 186 $ — $ — $ 639 $ 3,569,446
Summary of loan balances classified by credit quality indicators by year of origination	The following table presents loan balances classified by credit quality indicators by year of origination as of March 31, 2023: March 31, 2023 (dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Total Commercial Pass $ 20,434 $ 141,709 $ 63,359 $ 31,087 $ 20,019 $ 6,641 $ 147,426 $ 430,675 Watch 47 646 45 — 9 1,963 2,347 5,057 Substandard — 11,691 21 66 — 389 6,294 18,461 Total Commercial 20,481 154,046 63,425 31,153 20,028 8,993 156,067 454,193 Current Period Gross Write-offs — — — — — — — — Paycheck Protection Program Pass — — 963 — — — — 963 Total Paycheck Protection Program — — 963 — — — — 963 Current Period Gross Write-offs — — — — — — — — Construction and Land Development Pass 13,589 194,575 85,571 5,166 — 100 12,464 311,465 Watch — 712 — — — — — 712 Substandard — 100 — — — — — 100 Total Construction and Land Development 13,589 195,387 85,571 5,166 — 100 12,464 312,277 Current Period Gross Write-offs — — — — — — — — 1-4 Family Construction Pass 27,981 29,023 2,983 334 — — 25,476 85,797 Total 1-4 Family Construction 27,981 29,023 2,983 334 — — 25,476 85,797 Current Period Gross Write-offs — — — — — — — — Real Estate Mortgage: — 1-4 Family Mortgage Pass 22,416 120,225 90,879 60,390 20,349 9,169 55,835 379,263 Watch — — — — — 675 — 675 Substandard — — — 272 — — — 272 Total 1-4 Family Mortgage 22,416 120,225 90,879 60,662 20,349 9,844 55,835 380,210 Current Period Gross Write-offs — — — — — — — — Multifamily Pass 81,837 394,113 471,328 268,142 42,593 49,458 9,354 1,316,825 Watch — — 3,256 — — — — 3,256 Total Multifamily 81,837 394,113 474,584 268,142 42,593 49,458 9,354 1,320,081 Current Period Gross Write-offs — — — — — — — — CRE Owner Occupied Pass 17,315 55,530 46,010 21,238 5,309 10,764 880 157,046 Substandard — — 513 208 — 883 — 1,604 Total CRE Owner Occupied 17,315 55,530 46,523 21,446 5,309 11,647 880 158,650 Current Period Gross Write-offs — — — — — — — — CRE Nonowner Occupied Pass 35,112 332,177 301,390 94,350 86,666 71,948 7,333 928,976 Watch — 12,387 5,487 — — — — 17,874 Substandard 9,773 2,553 — 160 3,335 — — 15,821 Total CRE Nonowner Occupied 44,885 347,117 306,877 94,510 90,001 71,948 7,333 962,671 Current Period Gross Write-offs — — — — — — — — Total Real Estate Mortgage Loans 166,453 916,985 918,863 444,760 158,252 142,897 73,402 2,821,612 Consumer and Other Pass 2,600 498 16 1,588 45 — 4,771 9,518 Total Consumer and Other 2,600 498 16 1,588 45 — 4,771 9,518 Current Period Gross Write-offs 1 — — — — — 3 4 — Total Period Gross Write-offs 1 — — — — — 3 4 Total Loans $ 231,104 $ 1,295,939 $ 1,071,821 $ 483,001 $ 178,325 $ 151,990 $ 272,180 $ 3,684,360 The following table presents the risk category of loans by loan segment as of December 31, 2022: December 31, 2022 (dollars in thousands) Pass Watch Substandard Total Commercial $ 406,192 $ 9,477 $ 19,675 $ 435,344 Paycheck Protection Program 1,049 — — 1,049 Construction and Land Development 294,736 712 106 295,554 1-4 Family Construction 70,242 — — 70,242 Real Estate Mortgage: HELOC and 1-4 Family Junior Mortgage 36,875 — — 36,875 1st REM - 1-4 Family 50,271 674 — 50,945 LOCs and 2nd REM - Rentals 27,978 7 — 27,985 1st REM - Rentals 239,277 — 392 239,669 Multifamily 1,303,468 3,270 — 1,306,738 CRE Owner Occupied 148,268 — 1,637 149,905 CRE Nonowner Occupied 922,657 18,112 6,239 947,008 Consumer and Other 8,132 — — 8,132 Totals $ 3,509,145 $ 32,252 $ 28,049 $ 3,569,446
Summary of the activity in the allowance for loan losses by segment	The following table presents the activity in the allowance for credit losses, by segment, for the three months ended March 31, 2023. On January 1, 2023, the Company adopted CECL, which added $650,000 to the total ACL. Under CECL, the Company recorded a $1.5 million provision for credit losses on loans during the three months ended March 31, 2023, compared to a $1.7 million provision for loan losses in the three months ended March 31, 2022, under the incurred loss method. Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamil y Occupied Occupied and Other Unallocated Total Three Months Ended March 31, 2023 Allowance for Credit Losses: Beginning Balance, Prior to Adoption of CECL $ 6,500 $ 1 $ 3,911 845 $ 4,325 $ 17,459 $ 1,965 $ 12,576 $ 151 $ 263 $ 47,996 Impact of Adopting CECL (1,157) (1) (1,070) (235) (1,778) 3,318 (943) 2,869 (90) (263) 650 Provision for Credit Losses 220 — 328 196 169 212 61 299 15 — 1,500 Loans Charged-off — — — — — — — — (4) — (4) Recoveries of Loans 3 — — — 1 — — — 2 — 6 Total Ending Allowance Balance $ 5,566 $ — $ 3,169 $ 806 $ 2,717 $ 20,989 $ 1,083 $ 15,744 $ 74 $ — $ 50,148 The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2022, prepared using the previous GAAP incurred loss method prior to the adoption of CECL: Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamil y Occupied Occupied and Other Unallocated Total Three Months Ended March 31, 2022 Allowance for Loan Losses: Beginning Balance $ 6,256 $ 13 $ 3,139 618 $ 3,757 $ 12,610 $ 1,495 $ 11,335 $ 147 $ 650 $ 40,020 Provision for Loan Losses (620) (7) 568 (6) 125 1,473 100 328 38 (324) 1,675 Loans Charged-off — — — — — — — — (15) — (15) Recoveries of Loans 2 — — — 3 — — — 7 — 12 Total Ending Allowance Balance $ 5,638 $ 6 $ 3,707 $ 612 $ 3,885 $ 14,083 $ 1,595 $ 11,663 $ 177 $ 326 $ 41,692 The following tables present the balance in the allowance for credit losses and the recorded investment in loans, by segment, based on impairment method as of March 31, 2023 and December 31, 2022: Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamil y Occupied Occupied and Other Unallocated Total ACL at March 31, 2023 Individually Evaluated for Impairment $ 76 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 76 Collectively Evaluated for Impairment 5,490 — 3,169 806 2,717 20,989 1,083 15,744 74 — 50,072 Totals $ 5,566 $ — $ 3,169 $ 806 $ 2,717 $ 20,989 $ 1,083 $ 15,744 $ 74 $ — $ 50,148 ALL at December 31, 2022 Individually Evaluated for Impairment $ 71 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 71 Collectively Evaluated for Impairment 6,429 1 3,911 845 4,325 17,459 1,965 12,576 151 263 47,925 Totals $ 6,500 $ 1 $ 3,911 $ 845 $ 4,325 $ 17,459 $ 1,965 $ 12,576 $ 151 $ 263 $ 47,996 Paycheck Construction CRE CRE Protection and Land 1-4 Family 1--4 Family Owner Non-owner Consumer (dollars in thousands) Commercial Program Development Construction Mortgage Multifamily Occupied Occupied and Other Total Loans at March 31, 2023 Individually Evaluated for Impairment $ 18,461 $ — $ 100 $ — $ 272 $ — $ 1,604 $ 15,821 $ — $ 36,258 Collectively Evaluated for Impairment 435,732 963 312,177 85,797 379,938 1,320,081 157,046 946,850 9,518 3,648,102 Totals $ 454,193 $ 963 $ 312,277 $ 85,797 $ 380,210 $ 1,320,081 $ 158,650 $ 962,671 $ 9,518 $ 3,684,360 Loans at December 31, 2022 Individually Evaluated for Impairment $ 19,675 $ — $ 106 $ — $ 392 $ — $ 1,637 $ 6,239 $ — $ 28,049 Collectively Evaluated for Impairment 415,669 1,049 295,448 70,242 355,082 1,306,738 148,268 940,769 8,132 3,541,397 Totals $ 435,344 $ 1,049 $ 295,554 $ 70,242 $ 355,474 $ 1,306,738 $ 149,905 $ 947,008 $ 8,132 $ 3,569,446
Summary of amortized cost basis of collateral dependent loans, by the primary collateral type, and the related ACL	The following table presents the amortized cost basis of collateral dependent loans by the primary collateral type, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of March 31, 2023: Primary Type of Collateral Business ACL (dollars in thousands) Real Estate Assets Other Total Allocation March 31, 2023 Commercial $ — $ 8,080 $ 10,381 $ 18,461 $ 76 Paycheck Protection Program — — — — — Construction and Land Development 100 — — 100 — 1-4 Family Construction — — — — — Real Estate Mortgage: 1-4 Family Mortgage 272 — — 272 — Multifamily — — — — — CRE Owner Occupied 1,604 — — 1,604 — CRE Nonowner Occupied 15,821 — — 15,821 — Consumer and Other — — — — — Totals $ 17,797 $ 8,080 $ 10,381 $ 36,258 $ 76
Summary of impaired loans by loan segment	The following table presents information regarding total carrying amounts and total unpaid principal balances of impaired loans by loan segment as of December 31, 2022: December 31, 2022 Recorded Principal Related (dollars in thousands) Investment Balance Allowance Loans With No Related Allowance for Loan Losses: Commercial $ 19,508 $ 19,508 $ — Construction and Land Development 106 713 — Real Estate Mortgage: 1-4 Family Mortgage 392 392 — CRE Owner Occupied 1,637 1,726 — CRE Nonowner Occupied 6,239 6,239 — Totals 27,882 28,578 — Loans With An Allowance for Loan Losses: Commercial 167 167 71 Totals 167 167 71 Grand Totals $ 28,049 $ 28,745 $ 71 The following table presents information regarding the average balances and interest income recognized on impaired loans by loan segment for the three months ended March 31, 2022: Three Months Ended March 31, 2022 Average Interest (dollars in thousands) Investment Recognized Loans With No Related Allowance for Loan Losses: Commercial $ 14,053 $ 190 Construction and Land Development 127 — Real Estate Mortgage: 1-4 Family Mortgage 290 4 CRE Owner Occupied 2,463 26 CRE Nonowner Occupied 3,004 37 Totals 19,937 257 Loans With An Allowance for Loan Losses: Commercial 100 — Totals 100 — Grand Totals $ 20,037 $ 257

Deposits (Tables)

Deposits (Tables)	3 Months Ended
Deposits (Tables)	Mar. 31, 2023
Deposits.
Schedule of composition of deposits	The following table presents the composition of deposits at March 31, 2023 and December 31, 2022: March 31, December 31, (dollars in thousands) 2023 2022 Transaction Deposits $ 1,372,235 $ 1,336,264 Savings and Money Market Deposits 913,013 1,031,873 Time Deposits 266,213 272,253 Brokered Deposits 859,662 776,153 Totals $ 3,411,123 $ 3,416,543
Summary of scheduled maturities of brokered and customer time deposits	The following table presents the scheduled maturities of brokered and customer time deposits at March 31, 2023: March 31, (dollars in thousands) 2023 Less than 1 Year $ 340,742 1 to 2 Years 112,541 2 to 3 Years 371,335 3 to 4 Years 65,976 4 to 5 Years 59,100 Greater than 5 Years 758 Totals $ 950,452

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Mar. 31, 2023
Derivative Instruments and Hedging Activities
Effect of derivative instruments in cash flow hedging relationships	Gross Amounts Not Offset in the Balance Sheet Net Amounts of Gross Amounts Gross Amounts Assets (Liabilities) of Recognized Offset in the Presented in the Financial Cash Collateral Net Assets (dollars in thousands) Assets (Liabilities) Balance Sheet Balance Sheet Instruments Received (Paid) (Liabilities) As of March 31, 2023 Assets $ 32,576 $ — $ 32,576 $ — $ 31,303 $ 1,273 Liabilities (9,429) — (9,429) — — (9,429) As of December 31, 2022 Assets $ 38,123 $ — $ 38,123 $ — $ 36,353 $ 1,770 Liabilities (9,542) — (9,542) — — (9,542)
Schedule of derivative instruments eligible for offset	The following table summarizes gross and net information about derivative instruments that are eligible for offset in the balance sheet at March 31, 2023 and December 31, 2022: Gross Amounts Not Offset in the Balance Sheet Net Amounts of Gross Amounts Gross Amounts Assets (Liabilities) of Recognized Offset in the Presented in the Financial Cash Collateral Net Assets (dollars in thousands) Assets (Liabilities) Balance Sheet Balance Sheet Instruments Received (Paid) (Liabilities) As of March 31, 2023 Assets $ 32,576 $ — $ 32,576 $ — $ 31,303 $ 1,273 Liabilities (9,429) — (9,429) — — (9,429) As of December 31, 2022 Assets $ 38,123 $ — $ 38,123 $ — $ 36,353 $ 1,770 Liabilities (9,542) — (9,542) — — (9,542)
Cash flow hedge
Derivative Instruments and Hedging Activities
Summary of interest rate derivatives	The following table presents a summary of the Company’s interest rate contracts as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Notional Estimated Notional Estimated (dollars in thousands) Amount Fair Value Amount Fair Value Interest rate swap agreements: Assets $ 125,000 $ 8,868 $ 125,000 $ 10,477 Liabilities 58,000 (2,725) 38,000 (1,302) Interest rate cap agreements: Assets 125,000 17,004 125,000 19,406
Interest Rate Swap
Derivative Instruments and Hedging Activities
Summary of interest rate derivatives	The following table presents a summary of the Company’s interest rate swaps to facilitate customer transactions as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Notional Estimated Notional Estimated (dollars in thousands) Amount Fair Value Amount Fair Value Interest rate swap agreements: Assets $ 65,004 $ 6,704 $ 65,315 $ 8,240 Liabilities 65,004 (6,704) 65,315 (8,240) Total $ 130,008 $ — $ 130,630 $ —
Interest Rate Swap \| Cash flow hedge
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities	The following table presents a summary of the Company’s interest rate swaps designated as cash flow hedges as of March 31, 2023 and December 31, 2022: (dollars in thousands) March 31, 2023 December 31, 2022 Notional Amount $ 183,000 $ 163,000 Weighted Average Pay Rate 2.00 % 1.90 % Weighted Average Receive Rate 4.66 % 3.47 % Weighted Average Maturity (Years) 4.80 5.15 Net Unrealized Gain $ 6,143 $ 9,175
Interest Rate Cap \| Cash flow hedge
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities	The following table presents a summary of the Company’s interest rate caps designated as cash flow hedges as of March 31, 2023 and December 31, 2022: (dollars in thousands) March 31, 2023 December 31, 2022 Notional Amount $ 125,000 $ 125,000 Unamortized Premium Paid 5,674 5,872 Weighted Average Strike Rate 0.96 % 0.96 % Weighted Average Maturity (Years) 7.10 7.35

Federal Home Loan Bank Advanc_2

Federal Home Loan Bank Advances and Other Borrowings (Tables)	3 Months Ended
	Mar. 31, 2023
Federal Home Loan Bank Advances and Other Borrowings
Schedule of FHLB advances, by maturity	The following table presents FHLB advances, by maturity, at March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Weighted Weighted Average Total Average Total (dollars in thousands) Rate Outstanding Rate Outstanding Less than 1 Year 4.77 % $ 115,500 4.30 % $ 83,000 1 to 2 Years 4.41 35,000 1.05 5,000 2 to 3 Years 4.32 22,500 1.22 5,000 3 to 4 Years 3.29 14,000 0.78 4,000 4 to 5 Years 4.18 10,000 — — Totals $ 197,000 $ 97,000

Subordinated Debentures (Tables

Subordinated Debentures (Tables)	3 Months Ended
Subordinated Debentures (Tables)	Mar. 31, 2023
Subordinated Debentures
Schedule of subordinated debentures	The following table presents a summary of the Company’s subordinated debentures as of March 31, 2023: Total Debt Total Debt Date First Maturity Outstanding Outstanding Interest Name Established Redemption Date Date March 31, 2023 December 31, 2022 Rate Coupon Structure (dollars in thousands) 2030 Notes June 19, 2020 July 1, 2025 July 1, 2030 $ 50,000 $ 50,000 5.25 % Fixed-to-Floating (1) 2031 Notes July 8, 2021 July 15, 2026 July 15, 2031 30,000 30,000 3.25 % Fixed-to-Floating (2) Subordinated Debentures 80,000 80,000 Debt Issuance Costs (999) (1,095) Subordinated Debentures, Net of Issuance Costs $ 79,001 $ 78,905 (1) Migrates to three month term SOFR + 5.13% beginning July 1, 2025 until either the early redemption date or the maturity date. (2) Migrates to three month term SOFR + 2.52% beginning July 15, 2026 until either the early redemption date or the maturity date.

Commitments, Contingencies an_2

Commitments, Contingencies and Credit Risk (Tables)	3 Months Ended
Commitments, Contingencies and Credit Risk (Tables)	Mar. 31, 2023
Commitments, Contingencies and Credit Risk
Schedule of commitments outstanding	The following commitments were outstanding at March 31, 2023 and December 31, 2022: March 31, December 31, (dollars in thousands) 2023 2022 Unfunded Commitments Under Lines of Credit $ 709,213 $ 848,734 Letters of Credit 123,025 115,769 Totals $ 832,238 $ 964,503
Schedule of balance and activity in the allowance for credit losses for off-balance sheet credit exposures	The ACL for off-balance sheet credit exposures was $4.3 million at March 31, 2023 and is separately classified on the balance sheet within other liabilities. Prior to the adoption of CECL, the Company’s ACL for off-balance sheet credit exposures was not material. The following table presents the balance and activity in the allowance for credit losses for off-balance sheet credit exposures for the three months ended March 31, 2023: Three Months Ended (dollars in thousands) March 31, 2023 Allowance for Credit Losses: Beginning Balance, Prior to Adoption of CECL $ 360 Impact of Adopting CECL 4,850 Provision (Credit) for Off-Balance Sheet Credit Exposures (875) Total Ending Balance $ 4,335

Stock Options and Restricted _2

Stock Options and Restricted Stock (Tables)	3 Months Ended
Stock Options and Restricted Stock (Tables)	Mar. 31, 2023
Stock Options and Restricted Stock
Summary of the status of the Company's outstanding stock options	March 31, 2023 Weighted Average Shares Exercise Price Outstanding at Beginning of Year 1,913,444 $ 9.35 Granted — — Exercised (82,000) 3.19 Forfeitures (2,000) 7.47 Outstanding at Period End 1,829,444 $ 9.63 Options Exercisable at Period End 1,488,819 $ 8.26
Summary of information pertaining to options outstanding based on range of exercise price	The following table presents information pertaining to options outstanding at March 31, 2023: Options Outstanding Options Exercisable Weighted Average Number of Weighted Average Remaining Contractual Number of Weighted Average Range of Exercise Prices Options Exercise Price Life in Years Options Exercise Price $ 2.13 - 3.99 228,500 $ 3.05 0.8 228,500 $ 3.05 7.00 - 7.99 899,416 7.47 4.5 899,416 7.47 8.00 - 8.99 17,500 8.76 7.0 5,000 8.76 10.00 - 10.99 10,000 10.08 7.2 5,000 10.08 11.00 - 11.99 85,000 11.27 6.1 58,000 11.29 12.00 - 12.99 263,528 12.90 6.4 197,778 12.90 13.00 - 13.99 25,000 13.22 5.1 20,000 13.22 17.00 - 17.99 300,500 17.50 8.8 75,125 17.50 Totals 1,829,444 $ 9.63 5.1 1,488,819 $ 8.26
Summary of analysis of nonvested options to purchase shares of the Company's stock issued and outstanding	The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the three months ended March 31, 2023: Weighted Number of Average Grant Shares Date Fair Value Nonvested Options at December 31, 2022 421,375 $ 4.87 Granted — — Vested (80,750) 5.05 Forfeited — — Nonvested Options at March 31, 2023 340,625 $ 4.83
Summary of the status of the Company's outstanding restricted stock awards	The following table presents an analysis of nonvested restricted stock awards outstanding for the three months ended March 31, 2023: Weighted Number of Average Grant Shares Date Fair Value Nonvested Awards at December 31, 2022 38,762 $ 12.50 Granted — — Vested (986) 12.67 Forfeited — — Nonvested Awards at March 31, 2023 37,776 $ 12.49
Summary of the status of the Company's outstanding restricted stock units	The following table presents an analysis of nonvested restricted stock units outstanding for the three months ended March 31, 2023: Weighted Number of Average Grant Units Date Fair Value Nonvested Units at December 31, 2022 351,310 $ 16.30 Granted 82,969 15.59 Vested (1,625) 15.77 Forfeited — — Nonvested Units at March 31, 2023 432,654 $ 16.17

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
Regulatory Capital (Tables)	Mar. 31, 2023
Regulatory Capital
Summary of company and the Bank's capital amounts and ratios	The following tables present the capital amounts and ratios for the Company, on a consolidated basis, and the Bank as of March 31, 2023 and December 31, 2022: Minimum Required For Capital Adequacy To be Well Capitalized For Capital Adequacy Purposes Plus Capital Under Prompt Corrective Actual Purposes Conservation Buffer Action Regulations (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio March 31, 2023 Company (Consolidated): Total Risk-based Capital $ 547,764 13.25 % $ 330,826 8.00 % $ 434,210 10.50 % N/A N/A Tier 1 Risk-based Capital 417,037 10.08 248,120 6.00 351,503 8.50 N/A N/A Common Equity Tier 1 Capital 350,523 8.48 186,090 4.50 289,473 7.00 N/A N/A Tier 1 Leverage Ratio 417,037 9.41 177,320 4.00 177,320 4.00 N/A N/A Bank: Total Risk-based Capital $ 521,610 12.62 % $ 330,694 8.00 % $ 434,036 10.50 % $ 413,368 10.00 % Tier 1 Risk-based Capital 469,904 11.37 248,021 6.00 351,363 8.50 330,694 8.00 Common Equity Tier 1 Capital 469,904 11.37 186,015 4.50 289,357 7.00 268,689 6.50 Tier 1 Leverage Ratio 469,904 10.61 177,094 4.00 177,094 4.00 221,368 5.00 Minimum Required For Capital Adequacy To be Well Capitalized For Capital Adequacy Purposes Plus Capital Under Prompt Corrective Actual Purposes Conservation Buffer Action Regulations (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2022 Company (Consolidated): Total Risk-based Capital $ 536,352 13.15 % $ 326,190 8.00 % $ 428,125 10.50 % N/A N/A Tier 1 Risk-based Capital 409,092 10.03 244,643 6.00 346,577 8.50 N/A N/A Common Equity Tier 1 Capital 342,578 8.40 183,482 4.50 285,417 7.00 N/A N/A Tier 1 Leverage Ratio 409,092 9.55 171,368 4.00 171,368 4.00 N/A N/A Bank: Total Risk-based Capital $ 508,760 12.47 % $ 326,288 8.00 % $ 428,253 10.50 % $ 407,860 10.00 % Tier 1 Risk-based Capital 460,404 11.29 244,716 6.00 346,681 8.50 326,288 8.00 Common Equity Tier 1 Capital 460,404 11.29 183,537 4.50 285,502 7.00 265,109 6.50 Tier 1 Leverage Ratio 460,404 10.76 171,113 4.00 171,113 4.00 213,891 5.00

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
Fair Value Measurement (Tables)	Mar. 31, 2023
Fair Value Measurement
Summary of balances of the assets and liabilities measured at fair value on a recurring basis	The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The following tables present the balances of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022: March 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Total Fair Value of Financial Assets: Securities Available for Sale: U.S. Treasury Securities $ 2,739 $ — $ — $ 2,739 Municipal Bonds — 126,598 — 126,598 Mortgage-Backed Securities — 227,238 — 227,238 Corporate Securities — 117,895 — 117,895 SBA Securities — 30,799 — 30,799 Asset-Backed Securities — 54,161 — 54,161 Interest Rate Caps — 17,004 — 17,004 Interest Rate Swaps — 15,572 — 15,572 Total Fair Value of Financial Assets $ 2,739 $ 589,267 $ — $ 592,006 Fair Value of Financial Liabilities: Interest Rate Swaps $ — $ 9,429 $ — $ 9,429 Total Fair Value of Financial Liabilities $ — $ 9,429 $ — $ 9,429 December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Total Fair Value of Financial Assets: Securities Available for Sale: U.S. Treasury Securities $ 2,580 $ — $ — $ 2,580 Municipal Bonds — 131,354 — 131,354 Mortgage-Backed Securities — 237,784 — 237,784 Corporate Securities — 109,827 — 109,827 SBA Securities — 20,877 — 20,877 Asset-Backed Securities — 46,191 — 46,191 Interest Rate Caps — 19,406 — 19,406 Interest Rate Swaps — 18,717 — 18,717 Total Fair Value of Financial Assets $ 2,580 $ 584,156 $ — $ 586,736 Fair Value of Financial Liabilities: Interest Rate Swaps $ — $ 9,542 $ — $ 9,542 Total Fair Value of Financial Liabilities $ — $ 9,542 $ — $ 9,542
Summary of net impairment losses related to nonrecurring fair value measurements of certain asset	The following tables present net impairment losses related to nonrecurring fair value measurements of certain assets at March 31, 2023 and December 31, 2022: March 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Loss Individually Evaluated Loans $ $ 94 $ $ 76 Totals $ — $ 94 $ — $ 76 December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Loss Impaired Loans $ — $ 96 $ — $ 71 Totals $ — $ 96 $ — $ 71
Summary of carrying amount and estimated fair values of financial instruments	The following tables present the carrying amount and estimated fair values of financial instruments at March 31, 2023 and December 31, 2022: March 31, 2023 Fair Value Hierarchy Carrying Estimated (dollars in thousands) Amount Level 1 Level 2 Level 3 Fair Value Financial Assets: Cash and Due From Banks $ 209,192 $ 209,192 $ — $ — $ 209,192 Bank-Owned Certificates of Deposit 1,225 — 1,230 — 1,230 Securities Available for Sale 559,430 2,739 556,691 — 559,430 FHLB Stock, at Cost 28,632 — 28,632 — 28,632 Loans, Net 3,625,477 — 3,502,472 — 3,502,472 Accrued Interest Receivable 13,377 — 13,377 — 13,377 Interest Rate Caps 17,004 — 17,004 — 17,004 Interest Rate Swaps 15,572 — 15,572 — 15,572 Financial Liabilities: Deposits $ 3,411,123 $ — $ 3,394,288 $ — $ 3,394,288 Federal Funds Purchased 437,000 — 437,000 — 437,000 Notes Payable 13,750 — 13,928 — 13,928 FHLB Advances 197,000 — 198,074 — 198,074 Subordinated Debentures 79,001 — 73,429 — 73,429 Accrued Interest Payable 3,257 — 3,257 — 3,257 Interest Rate Swaps 9,429 — 9,429 — 9,429 December 31, 2022 Fair Value Hierarchy Carrying Estimated (dollars in thousands) Amount Level 1 Level 2 Level 3 Fair Value Financial Assets: Cash and Due From Banks $ 87,043 $ 87,043 $ — $ — $ 87,043 Bank-Owned Certificates of Deposit 1,181 — 1,173 — 1,173 Securities Available for Sale 548,613 2,580 546,033 — 548,613 FHLB Stock, at Cost 19,606 — 19,606 — 19,606 Loans, Net 3,512,157 — 3,314,190 — 3,314,190 Accrued Interest Receivable 13,479 — 13,479 — 13,479 Interest Rate Caps 19,406 — 19,406 — 19,406 Interest Rate Swaps 18,717 — 18,717 — 18,717 Financial Liabilities: Deposits $ 3,416,543 $ — $ 3,390,416 $ — $ 3,390,416 Federal Funds Purchased 287,000 — 287,000 — 287,000 Notes Payable 13,750 — 13,473 — 13,473 FHLB Advances 97,000 — 96,061 — 96,061 Subordinated Debentures 78,905 — 70,931 — 70,931 Accrued Interest Payable 2,831 — 2,831 — 2,831 Interest Rate Swaps 9,542 — 9,542 — 9,542

Description of the Business a_4

Description of the Business and Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Impact of Recently Adopted Accounting Guidance
Retained Earnings	$ 255,394		$ 248,685
Allowance of loan loss	50,148	$ 48,646	47,996	$ 41,692	$ 40,020
Allowance for off-balance sheet credit exposure	$ 4,335	$ 5,210	360
Cumulative Effect of Change
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss			650
Allowance for off-balance sheet credit exposure			4,850
Accounting Standards Update 2016-13 \| Cumulative Effect of Change
Impact of Recently Adopted Accounting Guidance
Retained Earnings			(3,900)
Allowance of loan loss			650
Allowance for off-balance sheet credit exposure			4,800
Deferred taxes			$ (1,600)

Description of the Business a_5

Description of the Business and Summary of Significant Accounting Policies - Impact of Adoption of CECL (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	$ 50,148	$ 48,646	$ 47,996	$ 41,692	$ 40,020
Allowance for Credit Losses on Off-balance Sheet Credit Exposures	4,335	5,210	360
Commercial
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	5,566	5,343	6,500	5,638	6,256
Paycheck Protection Program (PPP), CARES Act
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss			1	6	13
Construction and Land Development
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	3,169	2,841	3,911	3,707	3,139
1-4 Family Construction
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	806	610	845	612	618
1-4 Family Mortgage
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	2,717	2,547	4,325	3,885	3,757
Multifamily
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	20,989	20,777	17,459	14,083	12,610
CRE Owner Occupied
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	1,083	1,022	1,965	1,595	1,495
CRE Non-owner Occupied
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	15,744	15,445	12,576	11,663	11,335
Consumer and other
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss	$ 74	61	151	177	147
Unallocated
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss			$ 263	$ 326	$ 650
Before Adoption
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		47,996
Allowance for Credit Losses on Off-balance Sheet Credit Exposures		360
Before Adoption \| Commercial
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		6,500
Before Adoption \| Paycheck Protection Program (PPP), CARES Act
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		1
Before Adoption \| Construction and Land Development
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		3,911
Before Adoption \| 1-4 Family Construction
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		845
Before Adoption \| 1-4 Family Mortgage
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		4,325
Before Adoption \| Multifamily
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		17,459
Before Adoption \| CRE Owner Occupied
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		1,965
Before Adoption \| CRE Non-owner Occupied
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		12,576
Before Adoption \| Consumer and other
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		151
Before Adoption \| Unallocated
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		263
Accounting Standards Update 2016-13 \| Impact of Adoption
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		650
Allowance for Credit Losses on Off-balance Sheet Credit Exposures		4,850
Accounting Standards Update 2016-13 \| Impact of Adoption \| Commercial
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(1,157)
Accounting Standards Update 2016-13 \| Impact of Adoption \| Paycheck Protection Program (PPP), CARES Act
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(1)
Accounting Standards Update 2016-13 \| Impact of Adoption \| Construction and Land Development
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(1,070)
Accounting Standards Update 2016-13 \| Impact of Adoption \| 1-4 Family Construction
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(235)
Accounting Standards Update 2016-13 \| Impact of Adoption \| 1-4 Family Mortgage
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(1,778)
Accounting Standards Update 2016-13 \| Impact of Adoption \| Multifamily
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		3,318
Accounting Standards Update 2016-13 \| Impact of Adoption \| CRE Owner Occupied
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(943)
Accounting Standards Update 2016-13 \| Impact of Adoption \| CRE Non-owner Occupied
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		2,869
Accounting Standards Update 2016-13 \| Impact of Adoption \| Consumer and other
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		(90)
Accounting Standards Update 2016-13 \| Impact of Adoption \| Unallocated
Impact of Recently Adopted Accounting Guidance
Allowance of loan loss		$ (263)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share
Anti dilutive securities excluded from the calculation of EPS	621,994	305,000
Net Income Available to Common Shareholders	$ 10,629	$ 11,249
Weighted Average Common Stock Outstanding:
Weighted Average Common Stock Outstanding (Basic)	27,726,894	28,123,809
Dilutive Effect of Stock Compensation	763,152	1,032,276
Weighted Average Common Stock Outstanding (Dilutive)	28,490,046	29,156,085
Basic Earnings per Common Share (in dollars per share)	$ 0.38	$ 0.40
Diluted Earnings per Common Share (in dollars per share)	$ 0.37	$ 0.39

Securities - Securities Availab

Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	$ 602,014	$ 596,497
Gross Unrealized Gains	3,266	2,839
Gross Unrealized Losses	(45,850)	(50,723)
Fair value	559,430	548,613
Asset Pledged as Collateral
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Fair value	$ 234,500
Debt Securities, Available-for-Sale, Pledging Purpose [Extensible Enumeration]	Advances from Federal Home Loan Banks
U.S. Treasury Securities
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	$ 2,762	2,621
Gross Unrealized Gains	4
Gross Unrealized Losses	(27)	(41)
Fair value	2,739	2,580
Municipal Bonds
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	146,810	156,506
Gross Unrealized Gains	5	62
Gross Unrealized Losses	(20,217)	(25,214)
Fair value	126,598	131,354
Mortgage-Backed Securities
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	240,517	252,919
Gross Unrealized Gains	2,376	2,465
Gross Unrealized Losses	(15,655)	(17,600)
Fair value	227,238	237,784
Corporate Securities
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	127,170	116,871
Gross Unrealized Gains	42	45
Gross Unrealized Losses	(9,317)	(7,089)
Fair value	117,895	109,827
SBA Securities
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	30,331	20,957
Gross Unrealized Gains	605	79
Gross Unrealized Losses	(137)	(159)
Fair value	30,799	20,877
Asset-Backed Securities
The amortized cost and estimated fair value of securities with gross unrealized gains and losses
Amortized cost	54,424	46,623
Gross Unrealized Gains	234	188
Gross Unrealized Losses	(497)	(620)
Fair value	$ 54,161	$ 46,191

Securities - Continuous Unreali

Securities - Continuous Unrealized Loss Position (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	520	530
Less Than 12 Months, Fair Value	$ 196,130	$ 298,369
Less Than 12 Months, Unrealized Losses	(8,238)	(16,312)
12 Months or Greater, Fair Value	256,687	165,296
12 Months or Greater, Unrealized Losses	(37,612)	(34,411)
Fair Value	452,817	463,665
Unrealized Losses	$ (45,850)	$ (50,723)
Percentage of aggregate depreciation from amortized cost basis	9.20%	9.90%
Allowance for available for sale securities	$ 0
Accrued interest receivable on securities	$ 3,900
U.S. Treasury Securities
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	5	6
Less Than 12 Months, Fair Value	$ 2,762	$ 2,330
Less Than 12 Months, Unrealized Losses	(27)	(41)
Fair Value	2,762	2,330
Unrealized Losses	$ (27)	$ (41)
Municipal Bonds
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	212	225
Less Than 12 Months, Fair Value	$ 22,283	$ 59,912
Less Than 12 Months, Unrealized Losses	(758)	(5,321)
12 Months or Greater, Fair Value	101,927	69,424
12 Months or Greater, Unrealized Losses	(19,459)	(19,893)
Fair Value	124,210	129,336
Unrealized Losses	$ (20,217)	$ (25,214)
Mortgage-Backed Securities
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	124	130
Less Than 12 Months, Fair Value	$ 60,388	$ 123,224
Less Than 12 Months, Unrealized Losses	(2,220)	(5,427)
12 Months or Greater, Fair Value	103,245	62,882
12 Months or Greater, Unrealized Losses	(13,435)	(12,173)
Fair Value	163,633	186,106
Unrealized Losses	$ (15,655)	$ (17,600)
Corporate Securities
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	106	100
Less Than 12 Months, Fair Value	$ 82,071	$ 88,486
Less Than 12 Months, Unrealized Losses	(4,981)	(5,121)
12 Months or Greater, Fair Value	31,507	17,054
12 Months or Greater, Unrealized Losses	(4,336)	(1,968)
Fair Value	113,578	105,540
Unrealized Losses	$ (9,317)	$ (7,089)
SBA Securities
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	48	49
Less Than 12 Months, Fair Value	$ 1,964	$ 2,498
Less Than 12 Months, Unrealized Losses	(6)	(6)
12 Months or Greater, Fair Value	8,826	9,750
12 Months or Greater, Unrealized Losses	(131)	(153)
Fair Value	10,790	12,248
Unrealized Losses	$ (137)	$ (159)
Asset-Backed Securities
Fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position
Number of Holdings with unrealized losses \| security	25	20
Less Than 12 Months, Fair Value	$ 26,662	$ 21,919
Less Than 12 Months, Unrealized Losses	(246)	(396)
12 Months or Greater, Fair Value	11,182	6,186
12 Months or Greater, Unrealized Losses	(251)	(224)
Fair Value	37,844	28,105
Unrealized Losses	$ (497)	$ (620)

Securities - Contractual Maturi

Securities - Contractual Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Contractual maturities, amortized cost
Due in One Year or Less	$ 5,331
Due After One Year Through Five Years	34,902
Due After Five Years Through 10 Years	165,874
Due After 10 Years	70,635
Subtotal	276,742
Totals	602,014	$ 596,497
Contractual maturities, fair value
Due in One Year or Less	5,328
Due After One Year Through Five Years	33,134
Due After Five Years Through 10 Years	151,432
Due After 10 Years	57,338
Subtotal	247,232
Totals	559,430	548,613
Mortgage-Backed Securities
Contractual maturities, amortized cost
Contractual securities	240,517
Totals	240,517	252,919
Contractual maturities, fair value
Contractual securities	227,238
Totals	227,238	237,784
SBA Securities
Contractual maturities, amortized cost
Contractual securities	30,331
Totals	30,331	20,957
Contractual maturities, fair value
Contractual securities	30,799
Totals	30,799	20,877
Asset-Backed Securities
Contractual maturities, amortized cost
Contractual securities	54,424
Totals	54,424	46,623
Contractual maturities, fair value
Contractual securities	54,161
Totals	$ 54,161	$ 46,191

Securities - Available for Sale

Securities - Available for Sale Securities Gross Realized Gain Loss (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Summary of the proceeds from sales of securities available for sale, as well as gross gains and losses
Proceeds From Sales of Securities	$ 19,959
Gross Gains on Sales	197
Gross Losses on Sales	$ (253)

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses - Components of loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Components of loans
Total Loans, Gross	$ 3,684,360		$ 3,569,446
Allowance for Credit Losses	(50,148)	$ (48,646)	(47,996)	$ (41,692)	$ (40,020)
Net Deferred Loan Fees	(8,735)		(9,293)
Total Loans, Net	3,625,477		3,512,157
Commercial
Components of loans
Total Loans, Gross	454,193		435,344
Allowance for Credit Losses	(5,566)	(5,343)	(6,500)	(5,638)	(6,256)
Paycheck Protection Program (PPP), CARES Act
Components of loans
Total Loans, Gross	963		1,049
Allowance for Credit Losses			(1)	(6)	(13)
Construction and Land Development
Components of loans
Total Loans, Gross	312,277		295,554
Allowance for Credit Losses	(3,169)	(2,841)	(3,911)	(3,707)	(3,139)
1-4 Family Construction
Components of loans
Total Loans, Gross	85,797		70,242
Allowance for Credit Losses	(806)	(610)	(845)	(612)	(618)
Real Estate Mortgage
Components of loans
Total Loans, Gross	2,821,612		2,759,125
1-4 Family Mortgage
Components of loans
Total Loans, Gross	380,210		355,474
Allowance for Credit Losses	(2,717)	(2,547)	(4,325)	(3,885)	(3,757)
Multifamily
Components of loans
Total Loans, Gross	1,320,081		1,306,738
Allowance for Credit Losses	(20,989)	(20,777)	(17,459)	(14,083)	(12,610)
CRE Owner Occupied
Components of loans
Total Loans, Gross	158,650		149,905
Allowance for Credit Losses	(1,083)	(1,022)	(1,965)	(1,595)	(1,495)
CRE Non-owner Occupied
Components of loans
Total Loans, Gross	962,671		947,008
Allowance for Credit Losses	(15,744)	(15,445)	(12,576)	(11,663)	(11,335)
Consumer and other
Components of loans
Total Loans, Gross	9,518		8,132
Allowance for Credit Losses	$ (74)	$ (61)	$ (151)	$ (177)	$ (147)

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Aging in past due loans and nonaccrual status, with and without an ACL, by loan segment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Aging of the recorded investment in past due loans by loan segment
Nonaccrual with ACL	$ 80
Nonaccrual without ACL	613	$ 639
Totals	3,684,360	3,569,446
Current
Aging of the recorded investment in past due loans by loan segment
Totals	3,683,646	3,568,621
30-89 Days Past Due
Aging of the recorded investment in past due loans by loan segment
Totals	21	186
Commercial
Aging of the recorded investment in past due loans by loan segment
Nonaccrual with ACL	80
Totals	454,193	435,344
Commercial \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	454,092	435,274
Commercial \| 30-89 Days Past Due
Aging of the recorded investment in past due loans by loan segment
Totals	21	70
Paycheck Protection Program (PPP), CARES Act
Aging of the recorded investment in past due loans by loan segment
Totals	963	1,049
Paycheck Protection Program (PPP), CARES Act \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	963	1,049
Construction and Land Development
Aging of the recorded investment in past due loans by loan segment
Nonaccrual without ACL	100	106
Totals	312,277	295,554
Construction and Land Development \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	312,177	295,448
1-4 Family Construction
Aging of the recorded investment in past due loans by loan segment
Totals	85,797	70,242
1-4 Family Construction \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	85,797	70,242
HELOC and 1-4 Family Junior Mortgage
Aging of the recorded investment in past due loans by loan segment
Totals		36,875
HELOC and 1-4 Family Junior Mortgage \| Current
Aging of the recorded investment in past due loans by loan segment
Totals		36,875
1st REM - 1-4 Family
Aging of the recorded investment in past due loans by loan segment
Totals		50,945
1st REM - 1-4 Family \| Current
Aging of the recorded investment in past due loans by loan segment
Totals		50,945
LOCs and 2nd REM - Rentals
Aging of the recorded investment in past due loans by loan segment
Totals		27,985
LOCs and 2nd REM - Rentals \| Current
Aging of the recorded investment in past due loans by loan segment
Totals		27,985
1st REM - Rentals
Aging of the recorded investment in past due loans by loan segment
Totals		239,669
1st REM - Rentals \| Current
Aging of the recorded investment in past due loans by loan segment
Totals		239,553
1st REM - Rentals \| 30-89 Days Past Due
Aging of the recorded investment in past due loans by loan segment
Totals		116
1-4 Family Mortgage
Aging of the recorded investment in past due loans by loan segment
Totals	380,210	355,474
1-4 Family Mortgage \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	380,210
Multifamily
Aging of the recorded investment in past due loans by loan segment
Totals	1,320,081	1,306,738
Multifamily \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	1,320,081	1,306,738
CRE Owner Occupied
Aging of the recorded investment in past due loans by loan segment
Nonaccrual without ACL	513	533
Totals	158,650	149,905
CRE Owner Occupied \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	158,137	149,372
CRE Non-owner Occupied
Aging of the recorded investment in past due loans by loan segment
Totals	962,671	947,008
CRE Non-owner Occupied \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	962,671	947,008
Consumer and other
Aging of the recorded investment in past due loans by loan segment
Totals	9,518	8,132
Consumer and other \| Current
Aging of the recorded investment in past due loans by loan segment
Totals	$ 9,518	$ 8,132

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Risk category of loans by loan segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Loan Balances
2023	$ 231,104
2022	1,295,939
2021	1,071,821
2020	483,001
2019	178,325
Prior	151,990
Revolving	272,180
Totals	3,684,360	$ 3,569,446
Write-offs
2023	1
Revolving	3
Total	4
Pass
Loan Balances
Totals		3,509,145
Watch
Loan Balances
Totals		32,252
Substandard
Loan Balances
Totals		28,049
Commercial
Loan Balances
2023	20,481
2022	154,046
2021	63,425
2020	31,153
2019	20,028
Prior	8,993
Revolving	156,067
Totals	454,193	435,344
Commercial \| Pass
Loan Balances
2023	20,434
2022	141,709
2021	63,359
2020	31,087
2019	20,019
Prior	6,641
Revolving	147,426
Totals	430,675	406,192
Commercial \| Watch
Loan Balances
2023	47
2022	646
2021	45
2019	9
Prior	1,963
Revolving	2,347
Totals	5,057	9,477
Commercial \| Substandard
Loan Balances
2022	11,691
2021	21
2020	66
Prior	389
Revolving	6,294
Totals	18,461	19,675
Paycheck Protection Program (PPP), CARES Act
Loan Balances
2021	963
Totals	963	1,049
Paycheck Protection Program (PPP), CARES Act \| Pass
Loan Balances
2021	963
Totals	963	1,049
Construction and Land Development
Loan Balances
2023	13,589
2022	195,387
2021	85,571
2020	5,166
Prior	100
Revolving	12,464
Totals	312,277	295,554
Construction and Land Development \| Pass
Loan Balances
2023	13,589
2022	194,575
2021	85,571
2020	5,166
Prior	100
Revolving	12,464
Totals	311,465	294,736
Construction and Land Development \| Watch
Loan Balances
2022	712
Totals	712	712
Construction and Land Development \| Substandard
Loan Balances
2022	100
Totals	100	106
1-4 Family Construction
Loan Balances
2023	27,981
2022	29,023
2021	2,983
2020	334
Revolving	25,476
Totals	85,797	70,242
1-4 Family Construction \| Pass
Loan Balances
2023	27,981
2022	29,023
2021	2,983
2020	334
Revolving	25,476
Totals	85,797	70,242
Real Estate Mortgage
Loan Balances
2023	166,453
2022	916,985
2021	918,863
2020	444,760
2019	158,252
Prior	142,897
Revolving	73,402
Totals	2,821,612	2,759,125
1-4 Family Mortgage
Loan Balances
2023	22,416
2022	120,225
2021	90,879
2020	60,662
2019	20,349
Prior	9,844
Revolving	55,835
Totals	380,210	355,474
1-4 Family Mortgage \| Pass
Loan Balances
2023	22,416
2022	120,225
2021	90,879
2020	60,390
2019	20,349
Prior	9,169
Revolving	55,835
Totals	379,263
1-4 Family Mortgage \| Watch
Loan Balances
Prior	675
Totals	675
1-4 Family Mortgage \| Substandard
Loan Balances
2020	272
Totals	272
HELOC and 1-4 Family Junior Mortgage
Loan Balances
Totals		36,875
HELOC and 1-4 Family Junior Mortgage \| Pass
Loan Balances
Totals		36,875
1st REM - 1-4 Family
Loan Balances
Totals		50,945
1st REM - 1-4 Family \| Pass
Loan Balances
Totals		50,271
1st REM - 1-4 Family \| Watch
Loan Balances
Totals		674
LOCs and 2nd REM - Rentals
Loan Balances
Totals		27,985
LOCs and 2nd REM - Rentals \| Pass
Loan Balances
Totals		27,978
LOCs and 2nd REM - Rentals \| Watch
Loan Balances
Totals		7
1st REM - Rentals
Loan Balances
Totals		239,669
1st REM - Rentals \| Pass
Loan Balances
Totals		239,277
1st REM - Rentals \| Substandard
Loan Balances
Totals		392
Multifamily
Loan Balances
2023	81,837
2022	394,113
2021	474,584
2020	268,142
2019	42,593
Prior	49,458
Revolving	9,354
Totals	1,320,081	1,306,738
Multifamily \| Pass
Loan Balances
2023	81,837
2022	394,113
2021	471,328
2020	268,142
2019	42,593
Prior	49,458
Revolving	9,354
Totals	1,316,825	1,303,468
Multifamily \| Watch
Loan Balances
2021	3,256
Totals	3,256	3,270
CRE Owner Occupied
Loan Balances
2023	17,315
2022	55,530
2021	46,523
2020	21,446
2019	5,309
Prior	11,647
Revolving	880
Totals	158,650	149,905
CRE Owner Occupied \| Pass
Loan Balances
2023	17,315
2022	55,530
2021	46,010
2020	21,238
2019	5,309
Prior	10,764
Revolving	880
Totals	157,046	148,268
CRE Owner Occupied \| Substandard
Loan Balances
2021	513
2020	208
Prior	883
Totals	1,604	1,637
CRE Non-owner Occupied
Loan Balances
2023	44,885
2022	347,117
2021	306,877
2020	94,510
2019	90,001
Prior	71,948
Revolving	7,333
Totals	962,671	947,008
CRE Non-owner Occupied \| Pass
Loan Balances
2023	35,112
2022	332,177
2021	301,390
2020	94,350
2019	86,666
Prior	71,948
Revolving	7,333
Totals	928,976	922,657
CRE Non-owner Occupied \| Watch
Loan Balances
2022	12,387
2021	5,487
Totals	17,874	18,112
CRE Non-owner Occupied \| Substandard
Loan Balances
2023	9,773
2022	2,553
2020	160
2019	3,335
Totals	15,821	6,239
Consumer and other
Loan Balances
2023	2,600
2022	498
2021	16
2020	1,588
2019	45
Revolving	4,771
Totals	9,518	8,132
Write-offs
2023	1
Revolving	3
Total	4
Consumer and other \| Pass
Loan Balances
2023	2,600
2022	498
2021	16
2020	1,588
2019	45
Revolving	4,771
Totals	$ 9,518	$ 8,132

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Allowance for loan losses by segment (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 01, 2023
Allowance for Loan Losses:
Beginning Balance	$ 47,996	$ 40,020	$ 40,020
Provision for Credit Losses on Loans	1,500	1,675
Loans Charged-off	(4)	(15)
Recoveries of Loans	6	12
Total Ending Allowance Balance	50,148	41,692	47,996
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Individually Evaluated for Impairment	76		71
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	50,072		47,925
Loans and Leases Receivable, Allowance, Total	50,148	41,692	47,996	$ 48,646
Loans, Individually Evaluated for Impairment	36,258		28,049
Loans, Collectively Evaluated for Impairment	3,648,102		3,541,397
Totals	3,684,360		3,569,446
Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	650
Total Ending Allowance Balance			650
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			650
Commercial
Allowance for Loan Losses:
Beginning Balance	6,500	6,256	6,256
Provision for Credit Losses on Loans	220	(620)
Recoveries of Loans	3	2
Total Ending Allowance Balance	5,566	5,638	6,500
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Individually Evaluated for Impairment	76		71
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	5,490		6,429
Loans and Leases Receivable, Allowance, Total	5,566	5,638	6,500	5,343
Loans, Individually Evaluated for Impairment	18,461		19,675
Loans, Collectively Evaluated for Impairment	435,732		415,669
Totals	454,193		435,344
Commercial \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(1,157)
Total Ending Allowance Balance			(1,157)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(1,157)
Paycheck Protection Program (PPP), CARES Act
Allowance for Loan Losses:
Beginning Balance	1	13	13
Provision for Credit Losses on Loans		(7)
Total Ending Allowance Balance		6	1
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment			1
Loans and Leases Receivable, Allowance, Total		6	1
Loans, Collectively Evaluated for Impairment	963		1,049
Totals	963		1,049
Paycheck Protection Program (PPP), CARES Act \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(1)
Total Ending Allowance Balance			(1)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(1)
Construction and Land Development
Allowance for Loan Losses:
Beginning Balance	3,911	3,139	3,139
Provision for Credit Losses on Loans	328	568
Total Ending Allowance Balance	3,169	3,707	3,911
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	3,169		3,911
Loans and Leases Receivable, Allowance, Total	3,169	3,707	3,911	2,841
Loans, Individually Evaluated for Impairment	100		106
Loans, Collectively Evaluated for Impairment	312,177		295,448
Totals	312,277		295,554
Construction and Land Development \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(1,070)
Total Ending Allowance Balance			(1,070)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(1,070)
1-4 Family Construction
Allowance for Loan Losses:
Beginning Balance	845	618	618
Provision for Credit Losses on Loans	196	(6)
Total Ending Allowance Balance	806	612	845
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	806		845
Loans and Leases Receivable, Allowance, Total	806	612	845	610
Loans, Collectively Evaluated for Impairment	85,797		70,242
Totals	85,797		70,242
1-4 Family Construction \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(235)
Total Ending Allowance Balance			(235)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(235)
1-4 Family Mortgage
Allowance for Loan Losses:
Beginning Balance	4,325	3,757	3,757
Provision for Credit Losses on Loans	169	125
Recoveries of Loans	1	3
Total Ending Allowance Balance	2,717	3,885	4,325
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	2,717		4,325
Loans and Leases Receivable, Allowance, Total	2,717	3,885	4,325	2,547
Loans, Individually Evaluated for Impairment	272		392
Loans, Collectively Evaluated for Impairment	379,938		355,082
Totals	380,210		355,474
1-4 Family Mortgage \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(1,778)
Total Ending Allowance Balance			(1,778)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(1,778)
Multifamily
Allowance for Loan Losses:
Beginning Balance	17,459	12,610	12,610
Provision for Credit Losses on Loans	212	1,473
Total Ending Allowance Balance	20,989	14,083	17,459
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	20,989		17,459
Loans and Leases Receivable, Allowance, Total	20,989	14,083	17,459	20,777
Loans, Collectively Evaluated for Impairment	1,320,081		1,306,738
Totals	1,320,081		1,306,738
Multifamily \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	3,318
Total Ending Allowance Balance			3,318
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			3,318
CRE Owner Occupied
Allowance for Loan Losses:
Beginning Balance	1,965	1,495	1,495
Provision for Credit Losses on Loans	61	100
Total Ending Allowance Balance	1,083	1,595	1,965
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	1,083		1,965
Loans and Leases Receivable, Allowance, Total	1,083	1,595	1,965	1,022
Loans, Individually Evaluated for Impairment	1,604		1,637
Loans, Collectively Evaluated for Impairment	157,046		148,268
Totals	158,650		149,905
CRE Owner Occupied \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(943)
Total Ending Allowance Balance			(943)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(943)
CRE Non-owner Occupied
Allowance for Loan Losses:
Beginning Balance	12,576	11,335	11,335
Provision for Credit Losses on Loans	299	328
Total Ending Allowance Balance	15,744	11,663	12,576
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	15,744		12,576
Loans and Leases Receivable, Allowance, Total	15,744	11,663	12,576	15,445
Loans, Individually Evaluated for Impairment	15,821		6,239
Loans, Collectively Evaluated for Impairment	946,850		940,769
Totals	962,671		947,008
CRE Non-owner Occupied \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	2,869
Total Ending Allowance Balance			2,869
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			2,869
Consumer and other
Allowance for Loan Losses:
Beginning Balance	151	147	147
Provision for Credit Losses on Loans	15	38
Loans Charged-off	(4)	(15)
Recoveries of Loans	2	7
Total Ending Allowance Balance	74	177	151
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment	74		151
Loans and Leases Receivable, Allowance, Total	74	177	151	$ 61
Loans, Collectively Evaluated for Impairment	9,518		8,132
Totals	9,518		8,132
Consumer and other \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	(90)
Total Ending Allowance Balance			(90)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			(90)
Unallocated
Allowance for Loan Losses:
Beginning Balance	263	650	650
Provision for Credit Losses on Loans		(324)
Total Ending Allowance Balance		326	263
Allowance for loan losses and the recorded investment
Allowance for Loan Losses and Loans, Collectively Evaluated for Impairment			263
Loans and Leases Receivable, Allowance, Total		$ 326	263
Unallocated \| Cumulative Effect of Change
Allowance for Loan Losses:
Beginning Balance	$ (263)
Total Ending Allowance Balance			(263)
Allowance for loan losses and the recorded investment
Loans and Leases Receivable, Allowance, Total			$ (263)

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses - Amortized cost basis of collateral dependent loans (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	$ 36,258
ACL Allocation	76
Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	17,797
Business Assets
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	8,080
Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	10,381
Commercial
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	18,461
ACL Allocation	76
Commercial \| Business Assets
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	8,080
Commercial \| Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	10,381
Construction and Land Development
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	100
Construction and Land Development \| Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	100
1-4 Family Mortgage
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	272
1-4 Family Mortgage \| Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	272
CRE Owner Occupied
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	1,604
CRE Owner Occupied \| Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	1,604
CRE Non-owner Occupied
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	15,821
CRE Non-owner Occupied \| Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Total	$ 15,821

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses - Additional information (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($) loan
Loans and Allowance for Credit Losses
Accrued interest receivable on loans	$ 9,500,000
Number of loans modified \| loan	1	2
Aggregate outstanding balances of troubled debt restructurings	$ 9,800,000	$ 188,000
Forgiveness of principal	$ 0

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses - Impaired loans by loan segment (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Recorded Investment	$ 27,882
Loans With No Related Allowance for Loan Losses, Principal Balance	28,578
Loans With An Allowance for Loan Losses, Recorded Investment	167
Loans With An Allowance for Loan Losses, Principal Balance	167
Total Recorded Investment	28,049
Total Principal Balance	28,745
Related Allowance	71
Commercial
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Recorded Investment	19,508
Loans With No Related Allowance for Loan Losses, Principal Balance	19,508
Loans With An Allowance for Loan Losses, Recorded Investment	167
Loans With An Allowance for Loan Losses, Principal Balance	167
Related Allowance	71
Construction and Land Development
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Recorded Investment	106
Loans With No Related Allowance for Loan Losses, Principal Balance	713
1-4 Family Mortgage
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Recorded Investment	392
Loans With No Related Allowance for Loan Losses, Principal Balance	392
CRE Owner Occupied
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Recorded Investment	1,637
Loans With No Related Allowance for Loan Losses, Principal Balance	1,726
CRE Non-owner Occupied
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Recorded Investment	6,239
Loans With No Related Allowance for Loan Losses, Principal Balance	$ 6,239

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Average balances and interest income recognized (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Average Investment	$ 19,937
Loans With No Related Allowance for Loan Losses, Interest Recognized	257
Loans With An Allowance for Loan Losses, Average Investment	100
Total Average Investment	20,037
Total Interest Recognized	257
Commercial
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Average Investment	14,053
Loans With No Related Allowance for Loan Losses, Interest Recognized	190
Loans With An Allowance for Loan Losses, Average Investment	100
Construction and Land Development
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Average Investment	127
1-4 Family Mortgage
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Average Investment	290
Loans With No Related Allowance for Loan Losses, Interest Recognized	4
CRE Owner Occupied
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Average Investment	2,463
Loans With No Related Allowance for Loan Losses, Interest Recognized	26
CRE Non-owner Occupied
Impaired loans by loan segment
Loans With No Related Allowance for Loan Losses, Average Investment	3,004
Loans With No Related Allowance for Loan Losses, Interest Recognized	$ 37

Deposits - Composition of depos

Deposits - Composition of deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deposits, by Type [Abstract]
Transaction Deposits	$ 1,372,235	$ 1,336,264
Savings and Money Market Deposits	913,013	1,031,873
Time Deposits	266,213	272,253
Brokered Deposits	859,662	776,153
Total Deposits	3,411,123	3,416,543
Brokered money market accounts	$ 175,400	$ 184,300

Deposits - Maturities (Details)

Deposits - Maturities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Deposits - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Scheduled Maturities of Time Deposits
Less than 1 Year	$ 340,742
1 to 2 Years	112,541
2 to 3 Years	371,335
3 to 4 Years	65,976
4 to 5 Years	59,100
Greater than 5 years	758
Totals	950,452
Aggregate time deposits greater	$ 81,800	$ 92,300

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Non-hedge Derivatives (Details) - Interest Rate Swap - Derivatives not designated as hedging instruments - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional Amount, Asset	$ 65,004	$ 65,315
Notional Amount, Liability	65,004	65,315
Notional Amount	130,008	130,630
Estimated Fair Value, Asset	6,704	8,240
Estimated Fair Value, Liability	$ (6,704)	$ (8,240)

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Cash Flow Derivatives (Details) - Cash flow hedge - Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Cash Flow Hedging Derivatives
Amount expected to be reclassified from AOCI into earnings	$ 5,500
Interest Rate Swap
Cash Flow Hedging Derivatives
Notional Amount	$ 183,000		$ 163,000
Weighted Average Pay Rate	2%		1.90%
Weighted Average Receive Rate	4.66%		3.47%
Weighted average maturity	4 years 9 months 18 days		5 years 1 month 24 days
Net Unrealized Gain	$ 6,143		$ 9,175
Interest Rate Cap
Cash Flow Hedging Derivatives
Notional Amount	$ 125,000		$ 125,000
Weighted average maturity	7 years 1 month 6 days		7 years 4 months 6 days
Unamortized Premium Paid	$ 5,674		$ 5,872
Weighted Average Strike Rate	0.96%		0.96%
Amortization of interest rate cap premiums	$ 198	$ 176

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Cash Flow Hedging Reclassification (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Collateral received	$ 31,303	$ 36,353
Cash flow hedge \| Interest Rate Swap \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount, Asset	125,000	125,000
Notional Amount, Liability	58,000	38,000
Estimated Fair Value, Asset	8,868	10,477
Estimated Fair Value, Liability	(2,725)	(1,302)
Cash flow hedge \| Interest Rate Cap \| Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Amount, Asset	125,000	125,000
Estimated Fair Value, Asset	$ 17,004	$ 19,406

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Derivative instruments eligible for offset (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Asset Derivatives
Gross Amounts of Recognized Assets	$ 32,576	$ 38,123
Net Amounts of Assets Presented in the Balance Sheet	32,576	38,123
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received (Paid)	31,303	36,353
Net Assets	1,273	1,770
Liability Derivatives
Gross Amounts of Recognized Liabilities	(9,429)	(9,542)
Net Amounts of Liabilities Presented in the Balance Sheet	(9,429)	(9,542)
Net Liabilities	$ (9,429)	$ (9,542)

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Derivative Instruments in Cash Flow Hedging Relationships (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from AOCI into earnings	$ 1,011	$ (423)
Amounts reclassified from AOCI into earnings related to hedge ineffectiveness	0	0
Amount expected to be reclassified from AOCI into earnings related to hedge ineffectiveness	0	0
Interest Rate Swap \| Interest expense \| Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from AOCI into earnings	1,177	(247)
Interest Rate Cap \| Interest expense \| Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from AOCI into earnings	$ (110)	$ (176)

Federal Home Loan Bank Advanc_3

Federal Home Loan Bank Advances and Other Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal Home Loan Bank Advances and Other Borrowings
Federal Funds Purchased	$ 437,000	$ 287,000
Notes Payable	13,750	13,750
Loan and Security Agreement \| Revolving Line of Credit
Federal Home Loan Bank Advances and Other Borrowings
Bank stock (as a percent)			100%
Borrowing capacity	40,000		$ 25,000
Outstanding balance under the revolving line of credit	13,800	13,800
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances and Other Borrowings
Principal balances	1,350,000	1,200,000
Remaining available borrowings	$ 246,800	$ 390,900

Federal Home Loan Bank Advanc_4

Federal Home Loan Bank Advances and Other Borrowings - Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Weighted Average Rate
Less than 1 Year	4.77%	4.30%
1 to 2 Years	4.41%	1.05%
2 to 3 Years	4.32%	1.22%
3 to 4 Years	3.29%	0.78%
4 to 5 Years	4.18%
Total Outstanding
Less than 1 Year	$ 115,500	$ 83,000
1 to 2 Years	35,000	5,000
2 to 3 Years	22,500	5,000
3 to 4 Years	14,000	4,000
4 to 5 Years	10,000
Advances from Federal Home Loan Banks, Total	$ 197,000	$ 97,000

Subordinated Debentures (Detail

Subordinated Debentures (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Subordinated Debentures (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Subordinated Debentures
Total amortization expense	$ 96	$ 110
Subordinated Note Purchase Agreement
Subordinated Debentures
Subordinated Debentures	80,000		$ 80,000
Debt Issuance Costs	(999)		(1,095)
Subordinated Debentures, Net of Issuance Costs	79,001		78,905
Subordinated Note Purchase Agreement \| 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030
Subordinated Debentures
Subordinated Debentures	$ 50,000		$ 50,000
Interest rate (as a percent)	5.25%		5.25%
Subordinated Note Purchase Agreement \| 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 \| SOFR
Subordinated Debentures
Variable spread on debt (as a percent)	5.13%
Subordinated Note Purchase Agreement \| 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031
Subordinated Debentures
Subordinated Debentures	$ 30,000		$ 30,000
Interest rate (as a percent)	3.25%		3.25%
Subordinated Note Purchase Agreement \| 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 \| SOFR
Subordinated Debentures
Variable spread on debt (as a percent)	2.52%

Commitments, Contingencies an_3

Commitments, Contingencies and Credit Risk (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Commitments Outstanding
Unfunded Commitments Under Lines of Credit	$ 709,213	$ 848,734
Letters of Credit	123,025	115,769
Totals	832,238	964,503
Federal Home Loan Bank Advances
Commitments Outstanding
Outstanding letters of credit	$ 62,900	$ 78,400

Commitments, Contingencies an_4

Commitments, Contingencies and Credit Risk - Allowance for credit losses for off-balance sheet (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jan. 01, 2023
Commitments Outstanding
Allowance for off-balance sheet credit exposure	$ 4,335	$ 5,210
Off-balance sheet credit exposure
Beginning Balance	360
Provision (Credit) for Loan Losses	(875)
Total Ending Allowance Balance	4,335
Cumulative Effect of Change
Commitments Outstanding
Allowance for off-balance sheet credit exposure
Off-balance sheet credit exposure
Beginning Balance	$ 4,850

Stock Options and Restricted _3

Stock Options and Restricted Stock - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
2012 Plan
Stock Options and Restricted Stock Awards
Number of shares authorized for grant options to its directors, officers, and employees			750,000
Term of award	10 years
Vesting period	5 years
2017 Plan
Stock Options and Restricted Stock Awards
Number of shares authorized for grant options to its directors, officers, and employees	1,500,000
Term of award	10 years
Number of unissued shares of the Company's common stock authorized for option grants	46,700	44,700
2017 Plan \| Minimum
Stock Options and Restricted Stock Awards
Vesting period	4 years
2017 Plan \| Maximum
Stock Options and Restricted Stock Awards
Vesting period	5 years
2019 EIP
Stock Options and Restricted Stock Awards
Number of shares authorized for grant options to its directors, officers, and employees	1,000,000
Term of award	10 years
Vesting period	4 years
Number of unissued shares of the Company's common stock authorized for option grants	137,786	231,363

Stock Options and Restricted _4

Stock Options and Restricted Stock - Stock Option Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Option Plans
Outstanding at Beginning of Year	1,913,444
Exercised	(82,000)
Forfeitures	(2,000)
Outstanding at Period End	1,829,444
Options Exercisable at Period End	1,488,819
Weighted Average Exercise Price
Outstanding at Beginning of Year	$ 9.35
Exercised	3.19
Forfeitures	7.47
Outstanding at Period End	9.63
Options Exercisable at Period End	$ 8.26
Stock Options
Weighted Average Exercise Price
Compensation expense for stock options	$ 186	$ 288

Stock Options and Restricted _5

Stock Options and Restricted Stock - Exercise Price (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Exercise Price
Options Outstanding, Number Outstanding \| shares	1,829,444
Options Outstanding, Weighted Average Exercise Price	$ 9.63
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 1 month 6 days
Options Exercisable, Number Outstanding \| shares	1,488,819
Options Exercisable, Weighted Average Exercise Price	$ 8.26
Total unrecognized compensation cost \| $	$ 1.4
Weighted-average period over which total unrecognized compensation cost is expected to be recognized (in years)	2 years 6 months
2.13 - 3.99
Exercise Price
Exercise Price, lower range	$ 2.13
Exercise Price, upper range	$ 3.99
Options Outstanding, Number Outstanding \| shares	228,500
Options Outstanding, Weighted Average Exercise Price	$ 3.05
Options Outstanding, Weighted Average Remaining Contractual Life	9 months 18 days
Options Exercisable, Number Outstanding \| shares	228,500
Options Exercisable, Weighted Average Exercise Price	$ 3.05
7.00 - 7.99
Exercise Price
Exercise Price, lower range	7
Exercise Price, upper range	$ 7.99
Options Outstanding, Number Outstanding \| shares	899,416
Options Outstanding, Weighted Average Exercise Price	$ 7.47
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 6 months
Options Exercisable, Number Outstanding \| shares	899,416
Options Exercisable, Weighted Average Exercise Price	$ 7.47
8.00 - 8.99
Exercise Price
Exercise Price, lower range	8
Exercise Price, upper range	$ 8.99
Options Outstanding, Number Outstanding \| shares	17,500
Options Outstanding, Weighted Average Exercise Price	$ 8.76
Options Outstanding, Weighted Average Remaining Contractual Life	7 years
Options Exercisable, Number Outstanding \| shares	5,000
Options Exercisable, Weighted Average Exercise Price	$ 8.76
10.00 - 10.99
Exercise Price
Exercise Price, lower range	10
Exercise Price, upper range	$ 10.99
Options Outstanding, Number Outstanding \| shares	10,000
Options Outstanding, Weighted Average Exercise Price	$ 10.08
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 2 months 12 days
Options Exercisable, Number Outstanding \| shares	5,000
Options Exercisable, Weighted Average Exercise Price	$ 10.08
11.00 - 11.99
Exercise Price
Exercise Price, lower range	11
Exercise Price, upper range	$ 11.99
Options Outstanding, Number Outstanding \| shares	85,000
Options Outstanding, Weighted Average Exercise Price	$ 11.27
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 1 month 6 days
Options Exercisable, Number Outstanding \| shares	58,000
Options Exercisable, Weighted Average Exercise Price	$ 11.29
12.00 - 12.99
Exercise Price
Exercise Price, lower range	12
Exercise Price, upper range	$ 12.99
Options Outstanding, Number Outstanding \| shares	263,528
Options Outstanding, Weighted Average Exercise Price	$ 12.90
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 4 months 24 days
Options Exercisable, Number Outstanding \| shares	197,778
Options Exercisable, Weighted Average Exercise Price	$ 12.90
13.00 - 13.99
Exercise Price
Exercise Price, lower range	13
Exercise Price, upper range	$ 13.99
Options Outstanding, Number Outstanding \| shares	25,000
Options Outstanding, Weighted Average Exercise Price	$ 13.22
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 1 month 6 days
Options Exercisable, Number Outstanding \| shares	20,000
Options Exercisable, Weighted Average Exercise Price	$ 13.22
17.00 - 17.99
Exercise Price
Exercise Price, lower range	17
Exercise Price, upper range	$ 17.99
Options Outstanding, Number Outstanding \| shares	300,500
Options Outstanding, Weighted Average Exercise Price	$ 17.50
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 9 months 18 days
Options Exercisable, Number Outstanding \| shares	75,125
Options Exercisable, Weighted Average Exercise Price	$ 17.50

Stock Options and Restricted _6

Stock Options and Restricted Stock - Non-Vested Options (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Nonvested Options at beginning of period \| shares	421,375
Vested \| shares	(80,750)
Nonvested Options at end of period \| shares	340,625
Weighted Average Grant Date Fair Value
Nonvested Options at beginning of period \| $ / shares	$ 4.87
Vested \| $ / shares	5.05
Nonvested Options at end of period \| $ / shares	$ 4.83

Stock Options and Restricted _7

Stock Options and Restricted Stock - Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Compensation expense
Weighted-average period for non vested restricted stock awards	2 years 6 months
Restricted Stock Awards
Number of Shares
Vesting period	4 years
Nonvested Awards at beginning of period	38,762
Vested	(986)
Nonvested Awards at end of period	37,776
Weighted Average Grant Date Fair Value
Nonvested Awards at beginning of period	$ 12.50
Vested	12.67
Nonvested Awards at end of period	$ 12.49
Compensation expense
Compensation expense recognized	$ 111	$ 111
Unrecognized compensation cost	$ 322
Weighted-average period for non vested restricted stock awards	8 months 12 days
Shares issued for services on board of directors	10,608
Value of shares issued for services on board of directors	$ 115

Stock Options and Restricted _8

Stock Options and Restricted Stock - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Compensation expense
Weighted-average period for non vested restricted stock awards	2 years 6 months
Restricted Stock Units
Number of Shares
Number of shares of common stock on which each RSU is entitled to to receive upon vesting	1
Vesting period	4 years
Nonvested Awards at beginning of period	351,310
Granted	82,969
Vested	(1,625)
Nonvested Awards at end of period	432,654
Weighted Average Grant Date Fair Value
Nonvested Awards at beginning of period	$ 16.30
Granted	15.59
Vested	15.77
Nonvested Awards at end of period	$ 16.17
Compensation expense
Compensation expense recognized	$ 529	$ 353
Unrecognized compensation cost	$ 6,300
Weighted-average period for non vested restricted stock awards	3 years

Regulatory Capital - Capital Am

Regulatory Capital - Capital Amounts and Ratios (Details) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Total Risk-Based Capital
Total Risk-Based Capital, Actual amount	$ 547,764	$ 536,352
Total Risk-Based Capital, For Capital Adequacy Purposes, amount	330,826	326,190
Total Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conversion Buffer, amount	$ 434,210	$ 428,125
Total Risk-Based Capital, Actual ratio	0.1325	0.1315
Total Risk-Based Capital, For Capital Adequacy Purposes, Ratio	0.0800	0.0800
Total Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	0.1050	0.1050
Tier 1 Risk-Based Capital
Banking Regulation, Tier One Risk-Based Capital, Actual	$ 417,037	$ 409,092
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes, amount	248,120	244,643
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, amount	$ 351,503	$ 346,577
Tier 1 Risk-Based Capital, Actual ratio	0.1008	0.1003
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes, Ratio	0.0600	0.0600
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	0.0850	0.0850
Common Equity Tier 1 Capital
Common Equity Tier 1 Capital, Actual amount	$ 350,523	$ 342,578
Common Equity Tier 1 Capital, For Capital Adequacy Purposes, amount	186,090	183,482
Common Equity Tier 1 Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, amount	$ 289,473	$ 285,417
Common Equity Tier 1 Capital, Actual ratio	0.0848	0.0840
Common Equity Tier 1 Capital, For Capital Adequacy Purposes, Ratio	4.50%	4.50%
Common Equity Tier 1 Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	7%	7%
Leverage Ratio
Tier 1 Leverage Ratio, Actual amount	$ 417,037	$ 409,092
Tier 1 Leverage Ratio, For Capital Adequacy Purposes, amount	177,320	171,368
Tier 1 Leverage Ratio, For Capital Adequacy Purposes Plus Capital Conservation Buffer, amount	$ 177,320	$ 171,368
Tier 1 Leverage Ratio, Actual ratio	0.0941	0.0955
Tier 1 Leverage Ratio, For Capital Adequacy Purposes, Ratio	0.0400	0.0400
Tier 1 Leverage Ratio, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	0.0400	0.0400
Bank
Total Risk-Based Capital
Total Risk-Based Capital, Actual amount	$ 521,610	$ 508,760
Total Risk-Based Capital, For Capital Adequacy Purposes, amount	330,694	326,288
Total Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conversion Buffer, amount	434,036	428,253
Total Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, amount	$ 413,368	$ 407,860
Total Risk-Based Capital, Actual ratio	0.1262	0.1247
Total Risk-Based Capital, For Capital Adequacy Purposes, Ratio	0.0800	0.0800
Total Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	0.1050	0.1050
Total Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.1000	0.1000
Tier 1 Risk-Based Capital
Banking Regulation, Tier One Risk-Based Capital, Actual	$ 469,904	$ 460,404
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes, amount	248,021	244,716
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, amount	351,363	346,681
Tier 1 Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, amount	$ 330,694	$ 326,288
Tier 1 Risk-Based Capital, Actual ratio	0.1137	0.1129
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes, Ratio	0.0600	0.0600
Tier 1 Risk-Based Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	0.0850	0.0850
Tier 1 Risk-Based Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.0800	0.0800
Common Equity Tier 1 Capital
Common Equity Tier 1 Capital, Actual amount	$ 469,904	$ 460,404
Common Equity Tier 1 Capital, For Capital Adequacy Purposes, amount	186,015	183,537
Common Equity Tier 1 Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, amount	289,357	285,502
Common Equity Tier 1 Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, amount	$ 268,689	$ 265,109
Common Equity Tier 1 Capital, Actual ratio	0.1137	0.1129
Common Equity Tier 1 Capital, For Capital Adequacy Purposes, Ratio	4.50%	4.50%
Common Equity Tier 1 Capital, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	7%	7%
Common Equity Tier 1 Capital, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	6.50%	6.50%
Leverage Ratio
Tier 1 Leverage Ratio, Actual amount	$ 469,904	$ 460,404
Tier 1 Leverage Ratio, For Capital Adequacy Purposes, amount	177,094	171,113
Tier 1 Leverage Ratio, For Capital Adequacy Purposes Plus Capital Conservation Buffer, amount	177,094	171,113
Tier 1 Leverage Ratio, To be Well Capitalized Under Prompt Corrective Action Regulations, amount	$ 221,368	$ 213,891
Tier 1 Leverage Ratio, Actual ratio	0.1061	0.1076
Tier 1 Leverage Ratio, For Capital Adequacy Purposes, Ratio	0.0400	0.0400
Tier 1 Leverage Ratio, For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio	0.0400	0.0400
Tier 1 Leverage Ratio, To be Well Capitalized Under Prompt Corrective Action Regulations, Ratio	0.0500	0.0500

Fair Value Measurement - Recurr

Fair Value Measurement - Recurring (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	$ 559,430	$ 548,613
Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Total Fair Value of Financial Assets	592,006	586,736
Total Fair Value of Financial Liabilities	9,429	9,542
U.S. Treasury Securities
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	2,739	2,580
U.S. Treasury Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	2,739	2,580
Municipal Bonds
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	126,598	131,354
Municipal Bonds \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	126,598	131,354
Mortgage-Backed Securities
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	227,238	237,784
Mortgage-Backed Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	227,238	237,784
Corporate Securities
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	117,895	109,827
Corporate Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	117,895	109,827
SBA Securities
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	30,799	20,877
SBA Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	30,799	20,877
Asset-Backed Securities
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	54,161	46,191
Asset-Backed Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	54,161	46,191
Interest Rate Cap \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Interest Rate Derivatives	17,004	19,406
Interest Rate Swap \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Interest Rate Derivatives	15,572	18,717
Interest Rate Swaps	9,429	9,542
Level 1
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	2,739	2,580
Level 1 \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Total Fair Value of Financial Assets	2,739	2,580
Level 1 \| U.S. Treasury Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	2,739	2,580
Level 2
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	556,691	546,033
Level 2 \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Total Fair Value of Financial Assets	589,267	584,156
Total Fair Value of Financial Liabilities	9,429	9,542
Level 2 \| Municipal Bonds \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	126,598	131,354
Level 2 \| Mortgage-Backed Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	227,238	237,784
Level 2 \| Corporate Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	117,895	109,827
Level 2 \| SBA Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	30,799	20,877
Level 2 \| Asset-Backed Securities \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Securities Available for Sale, at Fair Value	54,161	46,191
Level 2 \| Interest Rate Cap
Balances of the assets and liabilities measured at fair value on a recurring basis
Interest Rate Derivatives	17,004	19,406
Level 2 \| Interest Rate Cap \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Interest Rate Derivatives	17,004	19,406
Level 2 \| Interest Rate Swap
Balances of the assets and liabilities measured at fair value on a recurring basis
Interest Rate Derivatives	15,572	18,717
Interest Rate Swaps	9,429	9,542
Level 2 \| Interest Rate Swap \| Recurring
Balances of the assets and liabilities measured at fair value on a recurring basis
Interest Rate Derivatives	15,572	18,717
Interest Rate Swaps	$ 9,429	$ 9,542

Fair Value Measurement - Nonrec

Fair Value Measurement - Nonrecurring (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Loss	$ 1,500	$ 1,675
Nonrecurring
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Loss	76		$ 71
Nonrecurring \| Individually Evaluated Loans
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Loss	76
Nonrecurring \| Impaired Loans
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Loss			71
Level 2 \| Nonrecurring
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Assets measured at fair value	94		96
Level 2 \| Nonrecurring \| Individually Evaluated Loans
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Assets measured at fair value	$ 94
Level 2 \| Nonrecurring \| Impaired Loans
Balances of the assets and liabilities measured at fair value on a nonrecurring basis
Assets measured at fair value			$ 96

Fair Value Measurement - Estima

Fair Value Measurement - Estimated Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial Assets:
Bank-Owned Certificates of Deposit	$ 1,225	$ 1,181
Securities Available for Sale, at Fair Value	559,430	548,613
Level 1
Financial Assets:
Cash and Due From Banks	209,192	87,043
Securities Available for Sale, at Fair Value	2,739	2,580
Level 2
Financial Assets:
Bank-Owned Certificates of Deposit	1,230	1,173
Securities Available for Sale, at Fair Value	556,691	546,033
FHLB Stock, at Cost	28,632	19,606
Loans, Net	3,502,472	3,314,190
Accrued Interest Receivable	13,377	13,479
Financial Liabilities:
Deposits	3,394,288	3,390,416
Federal Funds Purchased	437,000	287,000
Notes Payable	13,928	13,473
FHLB Advances	198,074	96,061
Subordinated Debentures	73,429
Accrued Interest Payable	3,257	2,831
Level 2 \| Interest Rate Cap
Financial Assets:
Interest Rate Derivatives	17,004	19,406
Level 2 \| Interest Rate Swap
Financial Assets:
Interest Rate Derivatives	15,572	18,717
Financial Liabilities:
Subordinated Debentures		70,931
Interest Rate Swaps	9,429	9,542
Carrying Amount
Financial Assets:
Cash and Due From Banks	209,192	87,043
Bank-Owned Certificates of Deposit	1,225	1,181
Securities Available for Sale, at Fair Value	559,430	548,613
FHLB Stock, at Cost	28,632	19,606
Loans, Net	3,625,477	3,512,157
Accrued Interest Receivable	13,377	13,479
Financial Liabilities:
Deposits	3,411,123	3,416,543
Federal Funds Purchased	437,000	287,000
Notes Payable	13,750	13,750
FHLB Advances	197,000	97,000
Subordinated Debentures	79,001
Accrued Interest Payable	3,257	2,831
Carrying Amount \| Interest Rate Cap
Financial Assets:
Interest Rate Derivatives	17,004	19,406
Carrying Amount \| Interest Rate Swap
Financial Assets:
Interest Rate Derivatives	15,572	18,717
Financial Liabilities:
Subordinated Debentures		78,905
Interest Rate Swaps	9,429	9,542
Estimated Fair Value
Financial Assets:
Cash and Due From Banks	209,192	87,043
Bank-Owned Certificates of Deposit	1,230	1,173
Securities Available for Sale, at Fair Value	559,430	548,613
FHLB Stock, at Cost	28,632	19,606
Loans, Net	3,502,472	3,314,190
Accrued Interest Receivable	13,377	13,479
Financial Liabilities:
Deposits	3,394,288	3,390,416
Federal Funds Purchased	437,000	287,000
Notes Payable	13,928	13,473
FHLB Advances	198,074	96,061
Subordinated Debentures	73,429
Accrued Interest Payable	3,257	2,831
Estimated Fair Value \| Interest Rate Cap
Financial Assets:
Interest Rate Derivatives	17,004	19,406
Estimated Fair Value \| Interest Rate Swap
Financial Assets:
Interest Rate Derivatives	15,572	18,717
Financial Liabilities:
Subordinated Debentures		70,931
Interest Rate Swaps	$ 9,429	$ 9,542

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ / shares in Units, $ in Millions	Apr. 26, 2023 $ / shares	Apr. 25, 2023 director shares	Apr. 24, 2023 director	Apr. 12, 2023 USD ($)
Subsequent Events
Maximum number of directors \| director		15	11
Land
Subsequent Events
Purchase of land \| $				$ 2.6
2023 Plan
Subsequent Events
Number of shares authorized \| shares		1,500,000
Series A Preferred Stock
Subsequent Events
Dividend per share	$ 36.72
Preferred Stock, dividend rate (as a percent)	5.875%
Depositary Shares
Subsequent Events
Dividend per share	$ 0.3672