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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 546,363 $ 316,567
Available-for-sale debt securities, at fair value (amortized cost of $614,368 in 2024 and $618,525 in 2023, allowance for credit losses of $0 in 2024 and 2023) 587,805 591,313
Held-to-maturity debt securities (fair value of $76,119 in 2024 and $76,167 in 2023, allowance for credit losses of $10 in 2024 and $10 in 2023) 76,254 76,387
Equity securities with readily determinable fair value 235 174
Mortgage loans held for sale, at fair value 80,884 3,227
Consumer loans held for sale, at fair value 6,093 7,914
Consumer loans held for sale, at the lower of cost or fair value 13,083 16,094
Loans (loans carried at fair value of $0 in 2024 and $0 in 2023) 5,224,292 5,239,861
Allowance for credit losses (108,702) (82,130)
Loans, net 5,115,590 5,157,731
Federal Home Loan Bank stock, at cost 43,729 23,770
Premises and equipment, net 33,557 33,411
Right-of-use assets 33,210 34,691
Goodwill 40,516 40,516
Other real estate owned 1,486 1,370
Bank owned life insurance 104,670 103,916
Low-income housing tax credit investments 73,621 75,055
Other assets and accrued interest receivable 118,496 112,755
TOTAL ASSETS 6,875,592 6,594,891
Deposits:    
Noninterest-bearing 1,359,516 1,676,998
Interest-bearing 4,061,133 3,376,165
Total deposits 5,420,649 5,053,163
Securities sold under agreements to repurchase and other short-term borrowings 84,522 97,618
Operating lease liabilities 34,076 35,539
Federal Home Loan Bank advances 270,000 380,000
Low-income housing tax credit obligations 56,093 58,619
Other liabilities and accrued interest payable 74,669 57,196
Total liabilities 5,940,009 5,682,135
Commitments and contingent liabilities (Footnote 9)
STOCKHOLDERS' EQUITY    
Preferred stock, no par value
Class A Common Stock, no par value, 30,000,000 shares authorized, 17,260,406 shares (2024) and 17,203,355 shares (2023) issued and outstanding; Class B Common Stock, no par value, 5,000,000 shares authorized, 2,150,669 shares (2024) and 2,154,562 shares (2023) issued and outstanding 4,578 4,553
Additional paid in capital 142,091 142,124
Retained earnings 808,836 786,487
Accumulated other comprehensive (loss) income (19,922) (20,408)
Total stockholders' equity 935,583 912,756
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,875,592 $ 6,594,891