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UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Cash and cash equivalents:    
Cash and due from banks $ 844,180 $ 546,146
Money market investments 3,172 4,161
Total cash and cash equivalents 847,352 550,307
Restricted cash 142 157
Investments:    
Trading securities, at fair value, with amortized cost of $162 (December 31, 2022 - $162) 10 9
Investment securities available-for-sale, at fair value, with amortized cost of $1,445,218 (December 31, 2022 - $1,522,812); no allowance for credit losses “ACL” 1,353,106 1,412,776
Investment securities held-to-maturity, at amortized cost, with fair value of $471,615 (December 31, 2022 - $469,186); no allowance for credit losses 530,880 535,070
Equity securities 33,218 23,667
Total investments 1,917,214 1,971,522
Loans:    
Loans held-for-sale, at lower of cost or fair value 32,685 40,587
Loans held for investment, net of allowance for credit losses of $151,884 (December 31, 2022 - $152,673) 6,702,596 6,682,649
Total loans 6,735,281 6,723,236
Other assets:    
Foreclosed real estate 9,250 11,214
Accrued interest receivable 62,140 62,402
Deferred tax asset, net 37,372 55,485
Premises and equipment, net 104,851 106,820
Customers' liability on acceptances 30,094 28,607
Servicing assets 49,345 50,921
Goodwill 84,241 84,241
Other intangible assets 25,868 27,593
Operating lease right-of-use assets 23,897 25,363
Other assets 130,534 120,912
Total assets 10,057,581 9,818,780
Deposits:    
Demand deposits 5,038,122 5,176,758
Savings accounts 2,271,774 2,227,965
Time deposits 1,255,525 1,163,641
Total deposits 8,565,421 8,568,364
Borrowings:    
Advances from the Federal Home Loan Bank of New York (the “FHLB”) 226,661 26,716
Other borrowings 128 318
Total borrowings 226,789 27,034
Other liabilities:    
Acceptances executed and outstanding 30,094 28,607
Operating lease liabilities 25,990 27,370
Accrued expenses and other liabilities 119,777 124,999
Total liabilities 8,968,071 8,776,374
Commitments and contingencies (See Note 19)
Stockholders’ equity:    
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 47,611,402 shares outstanding (December 31, 2022 - 59,885,234 shares issued; 47,581,375 shares outstanding) 59,885 59,885
Additional paid-in capital 634,785 636,793
Legal surplus 138,333 133,901
Retained earnings 547,641 516,371
Treasury stock, at cost, 12,273,832 shares (December 31, 2022 - 12,303,859 shares) (212,794) (211,135)
Accumulated other comprehensive loss, net of tax of $13,497 (December 31, 2022 - $16,221) (78,340) (93,409)
Total stockholders’ equity 1,089,510 1,042,406
Total liabilities and stockholders’ equity $ 10,057,581 $ 9,818,780