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UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Cash and cash equivalents:    
Cash and due from banks $ 749,718 $ 743,550
Money market investments 4,674 4,623
Total cash and cash equivalents 754,392 748,173
Investments:    
Trading securities, at fair value, with amortized cost of $163 (December 31, 2023 - $163) 14 13
Investment securities available-for-sale, at fair value, with amortized cost of $1,993,754 (December 31, 2023 - $2,177,761); no allowance for credit losses 1,897,707 2,099,264
Investment securities held-to-maturity, at amortized cost, with fair value of $483,657 (December 31, 2023 - $490,764); no allowance for credit losses 544,491 549,024
Equity securities 40,162 38,469
Total investments 2,482,374 2,686,770
Loans:    
Loans held-for-sale, at lower of cost or fair value 28,274 28,345
Loans held-for-investment, net of allowance for credit losses of $156,563 (December 31, 2023 - $161,106) 7,383,104 7,373,273
Total loans 7,411,378 7,401,618
Other assets:    
Foreclosed real estate 10,850 10,780
Accrued interest receivable 72,117 71,400
Deferred tax assets, net 4,379 4,923
Premises and equipment, net 104,980 104,102
Customers' liability on acceptances 25,826 25,576
Servicing assets 49,553 49,520
Goodwill 84,241 84,241
Other intangible assets 19,216 20,694
Operating lease right-of-use assets 21,606 21,725
Other assets 118,323 114,931
Total assets 11,159,235 11,344,453
Deposits:    
Demand deposits 6,036,891 6,050,428
Savings accounts 2,001,770 2,088,102
Time deposits 1,509,613 1,623,639
Total deposits 9,548,274 9,762,169
Borrowings:    
Advances from the Federal Home Loan Bank of New York (the “FHLB”) 200,766 200,768
Other borrowings 0 2
Total borrowings 200,766 200,770
Other liabilities:    
Acceptances executed and outstanding 25,826 25,576
Operating lease liabilities 23,969 24,029
Deferred tax liabilities, net 22,876 22,444
Accrued expenses and other liabilities 121,871 115,985
Total liabilities 9,943,582 10,150,973
Commitments and contingencies (See Note 18)
Stockholders’ equity:    
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 47,216,571 shares outstanding (December 31, 2023 - 59,885,234 shares issued; 47,065,156 shares outstanding) 59,885 59,885
Additional paid-in capital 636,208 638,667
Legal surplus 155,732 150,967
Retained earnings 672,455 639,324
Treasury stock, at cost, 12,668,663 shares (December 31, 2023 - 12,820,078 shares) (226,896) (228,350)
Accumulated other comprehensive loss, net of tax of $14,316 (December 31, 2023 - $11,484) (81,731) (67,013)
Total stockholders’ equity 1,215,653 1,193,480
Total liabilities and stockholders’ equity $ 11,159,235 $ 11,344,453