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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 6,514 $ 5,937
Interest-earning deposits 244,779 184,138
Total cash and cash equivalents 251,293 190,075
Securities available for sale 556,266 554,648
Securities held to maturity (fair value $97,967 at March 31, 2023 and $87,187 at December 31, 2022) 111,609 102,291
CRA equity security, at fair value 13,194 12,985
FHLB and FRB stock, at cost [1] 30,338 30,672
Loans held for sale, at lower of cost or fair value 13,800 15,626
Loans 5,365,729 5,285,246
Less: allowance for credit losses 62,250 60,829
Net loans 5,303,479 5,224,417
Premises and equipment 23,782 23,831
Other real estate owned 116 116
Accrued interest receivable 19,143 25,157
Bank owned life insurance 47,261 47,147
Goodwill 36,212 36,212
Other intangible assets 10,767 11,121
Finance lease right-of-use assets 2,648 2,835
Operating lease right-of-use assets 12,262 12,873
Other assets 47,848 63,587
TOTAL ASSETS 6,480,018 6,353,593
Deposits:    
Noninterest-bearing demand deposits 1,096,549 1,246,066
Interest-bearing deposits:    
Checking [2] 2,797,493 2,143,611
Savings 132,523 157,338
Money market accounts 873,329 1,228,234
Certificates of deposit - retail 357,131 318,573
Certificates of deposit - listing service 15,922 25,358
Subtotal deposits 5,272,947 5,119,180
Interest-bearing demand - brokered 10,000 60,000
Certificates of deposit - brokered 25,895 25,984
Total deposits 5,308,842 5,205,164
Short-term borrowings 378,800 379,530
Finance lease liabilities 4,385 4,696
Operating lease liabilities 13,082 13,704
Subordinated debt, net 133,059 132,987
Deferred tax liabilities, net 12,112 15,432
Due to brokers 8,308  
Accrued expenses and other liabilities 66,472 69,100
TOTAL LIABILITIES 5,925,060 5,820,613
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, 21,291,670 at March 31, 2023 and 21,007,350 at December 31, 2022; outstanding shares, 18,014,757 at March 31, 2023 and 17,813,451 at December 31, 2022) 17,750 17,513
Surplus 339,060 338,706
Treasury stock at cost (3,276,913 shares at March 31, 2023 and 3,193,899 shares at December 31, 2022) (100,677) (97,826)
Retained earnings 366,270 348,798
Accumulated other comprehensive loss, net of income tax (67,445) (74,211)
TOTAL SHAREHOLDERS’ EQUITY 554,958 532,980
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 6,480,018 $ 6,353,593
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank."
[2] Interest-bearing checking includes $680.3 million at March 31, 2023 and $620.1 million at December 31, 2022 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.