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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and due from banks $ 5,608 $ 6,591
Federal funds sold 102 102
Interest-earning deposits 617,117 201,492
Total cash and cash equivalents 622,827 208,185
Securities available for sale 539,742 390,755
Equity security, at fair value 15,159 10,836
FHLB and FRB stock, at cost 18,598 24,068
Loans held for sale, at fair value 10,021 2,881
Loans held for sale, at lower of cost or fair value 27,228 14,667
Loans 4,862,684 4,394,137
Less: Allowance for loan and lease losses 66,065 43,676
Net loans 4,796,619 4,350,461
Premises and equipment 21,449 20,913
Other real estate owned 50 50
Accrued interest receivable 15,956 10,494
Bank owned life insurance 46,479 46,128
Goodwill 30,208 30,208
Other intangible assets 9,735 10,380
Finance lease right-of-use assets 4,704 5,078
Operating lease right-of-use assets 10,810 12,132
Other assets 111,630 45,643
TOTAL ASSETS 6,281,215 5,182,879
Deposits:    
Noninterest-bearing demand deposits 911,989 529,281
Interest-bearing deposits:    
Checking [1] 1,804,102 1,510,363
Savings 123,140 112,652
Money market accounts 1,183,603 1,196,313
Certificates of deposit - retail 629,941 633,763
Certificates of deposit - listing service 35,327 47,430
Subtotal deposits 4,688,102 4,029,802
Interest-bearing demand - brokered 130,000 180,000
Certificates of deposit - brokered 33,736 33,709
Total deposits 4,851,838 4,243,511
Short-term borrowings 15,000 128,100
Federal Home Loan Bank advances 105,000 105,000
Paycheck Protection Program Liquidity Facility 535,837  
Finance lease liabilities 7,196 7,598
Operating lease liabilities 11,116 12,423
Subordinated debt, net 83,529 83,417
Deferred tax liabilities, net 24,992 26,151
Due to brokers, securities settlements   7,951
Accrued expenses and other liabilities 138,727 65,076
TOTAL LIABILITIES 5,773,235 4,679,227
SHAREHOLDERS’ EQUITY    
Preferred stock (no par value; authorized 500,000 shares; liquidation preference of $1,000 per share)
Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued shares, 20,273,313 at June 30, 2020 and 20,074,766 at December 31, 2019; outstanding shares, 18,905,135 at June 30, 2020 and 18,926,810 at December 31, 2019 16,900 16,733
Surplus 322,796 319,375
Treasury stock at cost, 1,368,178 shares at June 30, 2020 and 1,147,956 shares at December 31, 2019 (36,477) (29,990)
Retained earnings 206,757 199,029
Accumulated other comprehensive loss, net of income tax (1,996) (1,495)
TOTAL SHAREHOLDERS’ EQUITY 507,980 503,652
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 6,281,215 $ 5,182,879
[1] Interest-bearing checking includes $671.8 million at June 30, 2020 and $423.8 million at December 31, 2019 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.