Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Assets
Cash and due from banks	$ 28,852	$ 27,100
Interest-bearing deposits in other financial institutions	185,496	171,692
Total cash and cash equivalents	214,348	198,792
Securities available-for-sale, at fair value (amortized cost of $158,364 and $159,742, respectively, and allowance for credit losses of $0 and $0, respectively, at March 31, 2025 and December 31, 2024)	148,190	146,349
Loans held-for-sale, at lower of cost or fair value	12,101	6,292
Loans held-for-investment, net of deferred fees and costs	2,727,610	2,629,387
Allowance for credit losses on loans	(31,942)	(30,628)
Net loans held-for-investment	2,695,668	2,598,759
Premises and equipment, net	8,420	8,280
Federal Home Loan Bank and other restricted stock, at cost	14,042	14,042
Bank-owned life insurance	32,013	31,766
Deferred tax assets, net	6,736	7,249
Servicing assets	5,631	5,837
Operating lease assets	17,779	17,254
Option derivative	35,778	0
Accrued interest receivable	10,967	10,466
Other assets	17,863	18,885
Total assets	3,219,536	3,063,971
Deposits:
Noninterest-bearing demand	564,407	547,853
Savings, NOW and money market accounts	512,739	466,887
Time deposits of $250,000 or less	924,795	935,927
Time deposits of more than $250,000	712,458	665,124
Total deposits	2,714,399	2,615,791
Other short-term borrowings	0	15,000
Federal Home Loan Bank advances	30,000	0
Operating lease liabilities	19,465	18,671
Accrued interest payable and other liabilities	49,030	50,695
Total liabilities	2,812,894	2,700,157
Commitments and contingencies
Preferred stock, 10,000,000 shares authorized, no par value:
Series C, senior non-cumulative perpetual, $1,000 per share liquidation preference, 69,141 and 69,141 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	69,141	69,141
Common stock, 60,000,000 shares authorized, no par value; 14,387,176 and 14,380,651 shares issued and outstanding, respectively, and included 114,100 and 119,100 shares of unvested restricted stock, respectively, at March 31, 2025 and December 31, 2024	178,934	143,195
Retained earnings	165,611	160,797
Accumulated other comprehensive loss, net	(7,044)	(9,319)
Total shareholders’ equity	406,642	363,814
Total liabilities and shareholders’ equity	$ 3,219,536	$ 3,063,971

PCB BANCORP 10-Q