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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents:    
Cash and due from banks $ 584,467 $ 743,550
Money market investments 6,670 4,623
Total cash and cash equivalents 591,137 748,173
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 $2,444,135 (December 31, 2023 - $2,177,761); no allowance for credit losses 2,338,205 2,099,264
Investment securities held-to-maturity, at amortized cost, with fair value of $267,174 (December 31, 2023 - $490,764); no allowance for credit losses 327,158 549,024
Equity securities 54,896 38,469
Total investments 2,720,277 2,686,770
Loans:    
Loans held-for-sale, at lower of cost or fair value 17,732 28,345
Loans held-for-investment, net of allowance for credit losses of $175,863 (December 31, 2023 - $161,106) 7,616,099 7,373,273
Total loans 7,633,831 7,401,618
Other assets:    
Foreclosed real estate 4,002 10,780
Accrued interest receivable 71,667 71,400
Deferred tax assets, net 6,248 4,923
Premises and equipment, net 104,512 104,102
Customers' liability on acceptances 31,526 25,576
Servicing assets 70,435 49,520
Goodwill 84,241 84,241
Other intangible assets 14,782 20,694
Operating lease right-of-use assets 19,197 21,725
Other assets 148,879 114,931
Total assets 11,500,734 11,344,453
Deposits:    
Demand deposits 5,627,406 6,050,428
Savings accounts 2,064,916 2,088,102
Time deposits 1,912,464 1,623,639
Total deposits 9,604,786 9,762,169
Borrowings:    
Securities sold under agreements to repurchase 75,222 0
Advances from the FHLB 325,952 200,768
Other borrowings 0 2
Total borrowings 401,174 200,770
Other liabilities:    
Acceptances executed and outstanding 31,526 25,576
Operating lease liabilities 21,388 24,029
Deferred tax liabilities, net 40,718 22,444
Accrued expenses and other liabilities 146,771 115,985
Total liabilities 10,246,363 10,150,973
Commitments and contingencies (See Note 24)
Stockholders’ equity:    
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 45,440,269 shares outstanding (December 31, 2023 - 59,885,234 shares issued; 47,065,156 shares outstanding) 59,885 59,885
Additional paid-in capital 639,786 638,667
Legal surplus 169,537 150,967
Retained earnings 771,993 639,324
Treasury stock, at cost, 14,444,965 shares (December 31, 2023 - 12,820,078 shares) (296,991) (228,350)
Accumulated other comprehensive loss, net of tax of $16,091 (December 31, 2023 - $11,484) (89,839) (67,013)
Total stockholders’ equity 1,254,371 1,193,480
Total liabilities and stockholders’ equity $ 11,500,734 $ 11,344,453