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UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Cash and cash equivalents:    
Cash and due from banks $ 795,546 $ 546,146
Money market investments 3,427 4,161
Total cash and cash equivalents 798,973 550,307
Restricted cash 0 157
Investments:    
Trading securities, at fair value, with amortized cost of $162 (December 31, 2022 - $162) 13 9
Investment securities available-for-sale, at fair value, with amortized cost of $1,247,149 (December 31, 2022 - $1,522,812); no allowance for credit losses “ACL” 1,141,845 1,412,776
Investment securities held-to-maturity, at amortized cost, with fair value of $461,378 (December 31, 2022 - $469,186); no allowance for credit losses 525,413 535,070
Equity securities 35,946 23,667
Total investments 1,703,217 1,971,522
Loans:    
Loans held-for-sale, at lower of cost or fair value 30,296 40,587
Loans held for investment, net of allowance for credit losses of $159,923 (December 31, 2022 - $152,673) 6,957,948 6,682,649
Total loans 6,988,244 6,723,236
Other assets:    
Foreclosed real estate 10,639 11,214
Accrued interest receivable 63,357 62,402
Deferred tax asset, net 20,306 55,485
Premises and equipment, net 104,166 106,820
Customers' liability on acceptances 35,945 28,607
Servicing assets 49,966 50,921
Goodwill 84,241 84,241
Other intangible assets 24,143 27,593
Operating lease right-of-use assets 21,840 25,363
Other assets 126,510 120,912
Total assets 10,031,547 9,818,780
Deposits:    
Demand deposits 5,008,521 5,176,758
Savings accounts 2,222,326 2,227,965
Time deposits 1,307,179 1,163,641
Total deposits 8,538,026 8,568,364
Borrowings:    
Advances from the Federal Home Loan Bank of New York (the “FHLB”) 226,507 26,716
Other borrowings 0 318
Total borrowings 226,507 27,034
Other liabilities:    
Acceptances executed and outstanding 35,945 28,607
Operating lease liabilities 24,031 27,370
Accrued expenses and other liabilities 107,287 124,999
Total liabilities 8,931,796 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: 47,076,187 shares outstanding (December 31, 2022 - 59,885,234 shares issued; 47,581,375 shares outstanding) 59,885 59,885
Additional paid-in capital 636,051 636,793
Legal surplus 142,567 133,901
Retained earnings 577,042 516,371
Treasury stock, at cost, 12,809,047 shares (December 31, 2022 - 12,303,859 shares) (226,230) (211,135)
Accumulated other comprehensive loss, net of tax of $15,620 (December 31, 2022 - $16,221) (89,564) (93,409)
Total stockholders’ equity 1,099,751 1,042,406
Total liabilities and stockholders’ equity $ 10,031,547 $ 9,818,780