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UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Cash and cash equivalents:    
Cash and due from banks $ 528,626 $ 546,146
Money market investments 4,073 4,161
Total cash and cash equivalents 532,699 550,307
Restricted cash 0 157
Investments:    
Trading securities, at fair value, with amortized cost of $163 (December 31, 2022 - $162) 14 9
Investment securities available-for-sale, at fair value, with amortized cost of $1,663,633 (December 31, 2022 - $1,522,812); no allowance for credit losses “ACL” 1,513,153 1,412,776
Investment securities held-to-maturity, at amortized cost, with fair value of $441,759 (December 31, 2022 - $469,186); no allowance for credit losses 519,145 535,070
Equity securities 42,162 23,667
Total investments 2,074,474 1,971,522
Loans:    
Loans held-for-sale, at lower of cost or fair value 25,846 40,587
Loans held for investment, net of allowance for credit losses of $157,529 (December 31, 2022 - $152,673) 7,104,206 6,682,649
Total loans 7,130,052 6,723,236
Other assets:    
Foreclosed real estate 9,555 11,214
Accrued interest receivable 67,868 62,402
Deferred tax asset, net 11,121 55,485
Premises and equipment, net 103,040 106,820
Customers' liability on acceptances 30,984 28,607
Servicing assets 50,601 50,921
Goodwill 84,241 84,241
Other intangible assets 22,419 27,593
Operating lease right-of-use assets 20,011 25,363
Other assets 120,073 120,912
Total assets 10,257,138 9,818,780
Deposits:    
Demand deposits 4,894,958 5,176,758
Savings accounts 2,216,162 2,227,965
Time deposits 1,430,433 1,163,641
Total deposits 8,541,553 8,568,364
Borrowings:    
Balance of Borrowing 150,701 0
Advances from the Federal Home Loan Bank of New York (the “FHLB”) 300,774 26,716
Other borrowings 0 318
Total borrowings 451,475 27,034
Other liabilities:    
Acceptances executed and outstanding 30,984 28,607
Operating lease liabilities 22,269 27,370
Accrued expenses and other liabilities 115,394 124,999
Total liabilities 9,161,675 8,776,374
Commitments and contingencies (See Note 20)
Stockholders’ equity:    
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 47,057,806 shares outstanding (December 31, 2022 - 59,885,234 shares issued; 47,581,375 shares outstanding) 59,885 59,885
Additional paid-in capital 637,389 636,793
Legal surplus 146,774 133,901
Retained earnings 607,466 516,371
Treasury stock, at cost, 12,827,428 shares (December 31, 2022 - 12,303,859 shares) (228,374) (211,135)
Accumulated other comprehensive loss, net of tax of $22,803 (December 31, 2022 - $16,221) (127,677) (93,409)
Total stockholders’ equity 1,095,463 1,042,406
Total liabilities and stockholders’ equity $ 10,257,138 $ 9,818,780