XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 6,203 $ 5,929
Interest-earning deposits 147,222 140,875
Total cash and cash equivalents 153,425 146,804
Securities available for sale 556,791 796,753
Securities held to maturity (fair value $95,642 at June 30, 2022 and $108,460 at December 31, 2021) 105,048 108,680
Equity security, at fair value 13,528 14,685
FHLB and FRB stock, at cost 13,710 12,950
Loans held for sale, at fair value 515 3,040
Loans held for sale, at lower of cost or fair value 14,956 34,051
Loans 5,153,873 4,806,721
Less: Allowance for credit losses [1] 59,022 61,697
Net loans 5,094,851 4,745,024
Premises and equipment 22,804 23,044
Other real estate owned 116  
Accrued interest receivable 23,468 21,589
Bank owned life insurance 46,944 46,663
Goodwill 36,212 36,212
Other intangible assets 11,870 12,690
Finance lease right-of-use assets 3,209 3,582
Operating lease right-of-use assets 14,192 9,775
Other assets 39,528 62,451
TOTAL ASSETS 6,151,167 6,077,993
Deposits:    
Noninterest-bearing demand deposits 1,043,225 956,482
Interest-bearing deposits:    
Checking [2] 2,456,988 2,287,894
Savings 168,441 154,914
Money market accounts 1,217,516 1,307,051
Certificates of deposit - retail 375,387 409,608
Certificates of deposit - listing service 31,348 31,382
Subtotal deposits 5,292,905 5,147,331
Interest-bearing demand - brokered 85,000 85,000
Certificates of deposit - brokered 25,963 33,818
Total deposits 5,403,868 5,266,149
Finance lease liabilities 5,305 5,820
Operating lease liabilities 14,756 10,111
Subordinated debt, net 132,844 132,701
Deferred tax liabilities, net 21,376 39,322
Accrued expenses and other liabilities 52,694 77,502
TOTAL LIABILITIES 5,630,843 5,531,605
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, 20,952,809 at June 30, 2022 and 20,656,810 at December 31, 2021; outstanding shares, 18,190,009 at June 30, 2022 and 18,393,888 at December 31, 2021) 17,466 17,220
Surplus 334,411 332,358
Treasury stock at cost, 2,762,800 shares at June 30, 2022 and 2,262,922 shares at December 31, 2021 (82,725) (65,104)
Retained earnings 309,899 274,288
Accumulated other comprehensive loss, net of income tax (58,727) (12,374)
TOTAL SHAREHOLDERS’ EQUITY 520,324 546,388
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 6,151,167 $ 6,077,993
[1] Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology.
[2] Interest-bearing checking includes $627.1 million at June 30, 2022 and $647.8 million at December 31, 2021 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.