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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and due from banks $ 8,159 $ 10,629
Federal funds sold 102 102
Interest-earning deposits 468,276 642,591
Total cash and cash equivalents 476,537 653,322
Securities available for sale 875,301 622,689
Equity security, at fair value 14,852 15,117
FHLB and FRB stock, at cost 13,699 13,709
Loans held for sale, at fair value 9,219 13,588
Loans held for sale, at lower of cost or fair value 53,185 18,520
Loans 4,377,931 4,372,437
Less: Allowance for loan and lease losses 67,536 67,309
Net loans 4,310,395 4,305,128
Premises and equipment 23,260 21,609
Other real estate owned 50 50
Accrued interest receivable 23,916 22,495
Bank owned life insurance 46,448 46,809
Goodwill 33,103 33,103
Other intangible assets 10,421 10,788
Finance lease right-of-use assets 4,143 4,330
Operating lease right-of-use assets 10,186 9,421
Other assets 64,912 99,764
TOTAL ASSETS 5,969,627 5,890,442
Deposits:    
Noninterest-bearing demand deposits 908,922 833,500
Interest-bearing deposits:    
Checking [1] 1,987,567 1,849,254
Savings 141,743 130,731
Money market accounts 1,256,605 1,298,885
Certificates of deposit - retail 474,668 530,222
Certificates of deposit - listing service 31,631 32,128
Subtotal deposits 4,801,136 4,674,720
Interest-bearing demand - brokered 110,000 110,000
Certificates of deposit - brokered 33,777 33,764
Total deposits 4,944,913 4,818,484
Short-term borrowings 15,000 15,000
Paycheck Protection Program Liquidity Facility 168,180 177,086
Finance lease liabilities 6,528 6,753
Operating lease liabilities 10,509 9,737
Subordinated debt, net 181,837 181,794
Deferred tax liabilities, net 28,341 32,978
Accrued expenses and other liabilities 91,878 121,488
TOTAL LIABILITIES 5,447,186 5,363,320
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, 20,561,081 at March 31, 2021 and 20,342,881 at December 31, 2020; outstanding shares, 19,034,870 at March 31, 2021 and 18,974,703 at December 31, 2020 17,140 16,958
Surplus 326,251 326,592
Treasury stock at cost, 1,526,211 shares at March 31, 2021 and 1,368,178 shares at December 31, 2020 (40,856) (36,477)
Retained earnings 233,670 221,441
Accumulated other comprehensive loss, net of income tax (13,764) (1,392)
TOTAL SHAREHOLDERS’ EQUITY 522,441 527,122
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 5,969,627 $ 5,890,442
[1] Interest-bearing checking includes $731.6 million at March 31, 2021 and $652.5 million at December 31, 2020 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.