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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Cash and cash equivalents:    
Cash and due from banks $ 743,550 $ 546,146
Money market investments 4,623 4,161
Total cash and cash equivalents 748,173 550,307
Restricted cash 0 157
Investments:    
Trading securities, at fair value, with amortized cost of $163 (December 31, 2022 - $162) 13 9
Investment securities available-for-sale, at fair value, with amortized cost of $2,177,761 (December 31, 2022 - $1,522,812); no allowance for credit losses 2,099,264 1,412,776
Investment securities held-to-maturity, at amortized cost, with fair value of $490,764 (December 31, 2022 - $469,186); no allowance for credit losses 549,024 535,070
Equity securities 38,469 23,667
Total investments 2,686,770 1,971,522
Loans:    
Loans held-for-sale, at lower of cost or fair value 28,345 40,587
Loans held for investment, net of allowance for credit losses of $161,106 (December 31, 2022 - $152,673) 7,373,273 6,682,649
Total loans 7,401,618 6,723,236
Other assets:    
Foreclosed real estate 10,780 11,214
Accrued interest receivable 71,400 62,402
Deferred tax assets, net 4,923 55,485
Premises and equipment, net 104,102 106,820
Customers' liability on acceptances 25,576 28,607
Servicing assets 49,520 50,921
Goodwill 84,241 84,241
Other intangible assets 20,694 27,593
Operating lease right-of-use assets 21,725 25,363
Other assets 114,931 120,912
Total assets 11,344,453 9,818,780
Deposits:    
Demand deposits 6,050,428 5,176,758
Savings accounts 2,088,102 2,227,965
Time deposits 1,623,639 1,163,641
Total deposits 9,762,169 8,568,364
Borrowings:    
Advances from the Federal Home Loan Bank of New York (the “FHLB”) 200,768 26,716
Other borrowings 2 318
Total borrowings 200,770 27,034
Other liabilities:    
Acceptances executed and outstanding 25,576 28,607
Operating lease liabilities 24,029 27,370
Deferred tax liabilities, net 22,444 0
Accrued expenses and other liabilities 115,985 124,999
Total liabilities 10,150,973 8,776,374
Commitments and contingencies (See Note 24)
Stockholders’ equity:    
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 47,065,156 shares outstanding (December 31, 2022 - 59,885,234 shares issued; 47,581,375 shares outstanding) 59,885 59,885
Additional paid-in capital 638,667 636,793
Legal surplus 150,967 133,901
Retained earnings 639,324 516,371
Treasury stock, at cost, 12,820,078 shares (December 31, 2022 - 12,303,859 shares) (228,350) (211,135)
Accumulated other comprehensive loss, net of tax of $11,484 (December 31, 2022 - $16,221) (67,013) (93,409)
Total stockholders’ equity 1,193,480 1,042,406
Total liabilities and stockholders’ equity $ 11,344,453 $ 9,818,780