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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 8,492 $ 5,887
Interest-earning deposits 382,875 181,784
Total cash and cash equivalents 391,367 187,671
Securities held to maturity (fair value $88,650 at December 31, 2024 and $94,415 at December 31, 2023) 101,635 107,755
Securities available for sale 784,544 550,617
CRA equity security, at fair value 13,041 13,166
FHLB and FRB stock, at cost [1] 12,373 31,044
Loans held for sale, at fair value   100
Loans held for sale, at lower of cost or fair value 8,594 6,695
Loans 5,512,326 5,429,325
Less: allowance for credit losses 72,992 65,888
Net loans 5,439,334 5,363,437
Premises and equipment 28,888 24,166
Accrued interest receivable 29,898 30,676
Bank owned life insurance 47,981 47,581
Goodwill 36,212 36,212
Other intangible assets 8,714 9,802
Finance lease right-of-use assets 985 2,087
Operating lease right-of-use assets 40,289 12,096
Deferred tax assets, net 16,381 505
Other assets 51,002 53,247
Total assets 7,011,238 6,476,857
Deposits:    
Noninterest-bearing demand deposits 1,112,734 957,687
Interest-bearing deposits:    
Checking [2] 3,334,269 2,882,193
Savings 103,136 111,573
Money market accounts 1,078,024 740,559
Certificates of deposit - retail 483,998 443,791
Certificates of deposit - listing service 6,861 7,804
Subtotal deposits 6,119,022 5,143,607
Interest-bearing demand – Brokered 10,000 10,000
Certificates of deposit - Brokered   120,507
Total deposits 6,129,022 5,274,114
Short-term borrowings   403,814
Finance lease liabilities 1,348 3,430
Operating lease liabilities 43,569 12,876
Subordinated debt, net 133,561 133,274
Due to brokers 18,514  
Accrued expenses and other liabilities 79,375 65,668
Total liabilities 6,405,389 5,893,176
SHAREHOLDERS’ EQUITY    
Preferred stock (no par value; authorized 500,000 shares)
Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued shares, 21,535,856 at December 31, 2024 and 21,388,917 at December 31, 2023; outstanding shares, 17,586,616 at December 31, 2024 and 17,739,677 at December 31, 2023) 17,953 17,831
Surplus 348,264 346,954
Treasury stock at cost (3,949,240 shares at December 31, 2024 and 3,649,240 shares at December 31, 2023) (117,509) (110,320)
Retained earnings 423,552 394,094
Accumulated other comprehensive loss (66,411) (64,878)
Total shareholders’ equity 605,849 583,681
Total liabilities and shareholders’ equity $ 7,011,238 $ 6,476,857
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank."
[2] Interest-bearing checking includes $1.57 billion at December 31, 2024 and $990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs.