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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Assets    
Cash and due from banks $ 28,864 $ 8,692
Overnight deposits 2,330,486 855,613
Total cash and cash equivalents 2,359,350 864,305
Investment securities available for sale, at fair value 566,624 266,096
Investment securities held to maturity (estimated fair value of $380.1 million and $2.8 million at December 31, 2021 and 2020, respectively) 382,099 2,760
Equity investment securities, at fair value 2,273 2,313
Total securities 950,996 271,169
Other investments 11,998 11,597
Loans, net of deferred fees and unamortized costs 3,731,929 3,137,053
Allowance for loan losses (34,729) (35,407)
Net loans 3,697,200 3,101,646
Receivable from global payments business, net 39,864 27,259
Accrued interest receivable 15,195 13,249
Premises and equipment, net 15,116 13,475
Prepaid expenses and other assets 16,906 18,388
Goodwill 9,733 9,733
Total assets 7,116,358 4,330,821
Deposits:    
Noninterest-bearing demand deposits 3,668,673 1,726,135
Interest-bearing deposits 2,766,899 2,103,471
Total deposits 6,435,572 3,829,606
Trust preferred securities 20,620 20,620
Subordinated debt, net of issuance cost 24,712 24,657
Secured borrowing 32,461 36,964
Accounts payable, accrued expenses and other liabilities 36,411 61,645
Accrued interest payable 746 712
Prepaid third-party debit cardholder balances 8,847 15,830
Total liabilities 6,559,369 3,990,034
Commitments and Contingencies (See Note 11)
Stockholders' equity:    
Common stock, $0.01 par value, 25,000,000 shares authorized, 10,920,569 and 8,295,272 shares issued and outstanding at December 31, 2021 and 2020, respectively 109 82
Additional paid in capital 382,999 218,899
Retained earnings 181,385 120,830
Accumulated other comprehensive income (loss), net of tax (7,504) 973
Total stockholders' equity 556,989 340,787
Total liabilities and stockholders' equity $ 7,116,358 4,330,821
Class B Preferred Stock    
Stockholders' equity:    
Class B preferred stock, $0.01 par value, authorized 2,000,000 shares, 0 and 272,636 issued and outstanding at December 31, 2021 and 2020, respectively)   $ 3