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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 5,586 $ 5,887
Interest-earning deposits 310,143 181,784
Total cash and cash equivalents 315,729 187,671
Securities available for sale 591,884 550,617
Securities held to maturity (fair value $90,863 at June 30, 2024 and $94,415 at December 31, 2023) 105,013 107,755
CRA equity security, at fair value 12,971 13,166
FHLB and FRB stock, at cost [1] 12,478 31,044
Loans held for sale, at fair value 228 100
Loans held for sale, at lower of cost or fair value 8,076 6,695
Loans 5,260,994 5,429,325
Less: allowance for credit losses 67,984 65,888
Net loans 5,193,010 5,363,437
Premises and equipment 24,932 24,166
Accrued interest receivable 33,534 30,676
Bank owned life insurance 47,716 47,581
Goodwill 36,212 36,212
Other intangible assets 9,258 9,802
Finance lease right-of-use assets 1,055 2,087
Operating lease right-of-use assets 38,683 12,096
Deferred tax assets, net 9,454 505
Due from brokers 3,184  
Other assets 61,933 53,247
TOTAL ASSETS 6,505,350 6,476,857
Deposits:    
Noninterest-bearing demand deposits 950,368 957,687
Interest-bearing deposits:    
Checking [2] 3,229,814 2,882,193
Savings 105,602 111,573
Money market accounts 824,158 740,559
Certificates of deposit - retail 502,810 443,791
Certificates of deposit - listing service 7,454 7,804
Subtotal deposits 5,620,206 5,143,607
Interest-bearing demand - brokered 10,000 10,000
Certificates of deposit - brokered 26,000 120,507
Total deposits 5,656,206 5,274,114
Short-term borrowings   403,814
Finance lease liabilities 1,427 3,430
Operating lease liabilities 41,347 12,876
Subordinated debt, net 133,417 133,274
Due to brokers 9,981  
Accrued expenses and other liabilities 74,650 65,668
TOTAL LIABILITIES 5,917,028 5,893,176
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, 21,515,730 at June 30, 2024 and 21,388,917 at December 31, 2023; outstanding shares, 17,666,490 at June 30, 2024 and 17,739,677 at December 31, 2023) 17,936 17,831
Surplus 345,164 346,954
Treasury stock at cost (3,849,240 shares at June 30, 2024 and 3,649,240 sharesat December 31, 2023) (114,917) (110,320)
Retained earnings 408,481 394,094
Accumulated other comprehensive loss, net of income tax (68,342) (64,878)
TOTAL SHAREHOLDERS’ EQUITY 588,322 583,681
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 6,505,350 $ 6,476,857
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank."
[2] Interest-bearing checking includes $1.3 billion at June 30, 2024 and $990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.