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UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Cash and cash equivalents:    
Cash and due from banks $ 674,702 $ 743,550
Money market investments 5,885 4,623
Total cash and cash equivalents 680,587 748,173
Investments:    
Trading securities, at fair value, with amortized cost of $163 (December 31, 2023 - $163) 18 13
Investment securities available-for-sale, at fair value, with amortized cost of $2,267,582 (December 31, 2023 - $2,177,761); no allowance for credit losses 2,230,102 2,099,264
Investment securities held-to-maturity, at amortized cost, with fair value of $284,249 (December 31, 2023 - $490,764); no allowance for credit losses 332,713 549,024
Equity securities 45,692 38,469
Total investments 2,608,525 2,686,770
Loans:    
Loans held-for-sale, at lower of cost or fair value 15,624 28,345
Loans held-for-investment, net of allowance for credit losses of $161,500 (December 31, 2023 - $161,106) 7,589,076 7,373,273
Total loans 7,604,700 7,401,618
Other assets:    
Foreclosed real estate 4,419 10,780
Accrued interest receivable 70,367 71,400
Deferred tax assets, net 4,130 4,923
Premises and equipment, net 105,279 104,102
Customers' liability on acceptances 26,055 25,576
Servicing assets 68,512 49,520
Goodwill 84,241 84,241
Other intangible assets 16,260 20,694
Operating lease right-of-use assets 20,355 21,725
Other assets 167,952 114,931
Total assets 11,461,382 11,344,453
Deposits:    
Demand deposits 5,859,787 6,050,428
Savings accounts 2,019,832 2,088,102
Time deposits 1,729,033 1,623,639
Total deposits 9,608,652 9,762,169
Borrowings:    
Advances from the Federal Home Loan Bank of New York (the “FHLB”) 270,827 200,768
Other borrowings 0 2
Total borrowings 270,827 200,770
Other liabilities:    
Acceptances executed and outstanding 26,055 25,576
Operating lease liabilities 22,604 24,029
Deferred tax liabilities, net 57,503 22,444
Accrued expenses and other liabilities 157,609 115,985
Total liabilities 10,143,250 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: 46,558,932 shares outstanding (December 31, 2023 - 59,885,234 shares issued; 47,065,156 shares outstanding) 59,885 59,885
Additional paid-in capital 639,487 638,667
Legal surplus 164,990 150,967
Retained earnings 737,815 639,324
Treasury stock, at cost, 13,326,302 shares (December 31, 2023 - 12,820,078 shares) (251,055) (228,350)
Accumulated other comprehensive loss, net of tax of $4,490 (December 31, 2023 - $11,484) (32,990) (67,013)
Total stockholders’ equity 1,318,132 1,193,480
Total liabilities and stockholders’ equity $ 11,461,382 $ 11,344,453