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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 7,524 $ 8,492
Interest-earning deposits 308,078 382,875
Total cash and cash equivalents 315,602 391,367
Securities available for sale 767,533 784,544
Securities held to maturity (fair value $88,079 at June 30, 2025 and $88,650 at December 31, 2024) 98,623 101,635
CRA equity security, at fair value 13,278 13,041
FHLB and FRB stock, at cost [1] 11,467 12,373
Loans held for sale, at lower of cost or fair value 5,495 8,594
Loans 5,819,037 5,512,326
Less: allowance for credit losses 81,770 72,992
Net loans 5,737,267 5,439,334
Premises and equipment 36,626 28,888
Accrued interest receivable 33,209 29,898
Bank owned life insurance 48,239 47,981
Goodwill 36,212 36,212
Other intangible assets 8,171 8,714
Finance lease right-of-use assets 914 985
Operating lease right-of-use assets 38,291 40,289
Deferred tax assets, net 14,150 16,381
Other assets 35,596 51,002
TOTAL ASSETS 7,200,673 7,011,238
Deposits:    
Noninterest-bearing demand deposits 1,237,864 1,112,734
Interest-bearing deposits:    
Checking [2] 3,483,295 3,334,269
Savings 103,846 103,136
Money market accounts [3] 1,095,665 1,078,024
Certificates of deposit - retail 440,612 483,998
Certificates of deposit - listing service 1,841 6,861
Subtotal deposits 6,363,123 6,119,022
Interest-bearing demand - brokered 0 10,000
Total deposits 6,363,123 6,129,022
Finance lease liabilities 1,268 1,348
Operating lease liabilities 41,806 43,569
Subordinated debt, net 98,933 133,561
Due to brokers   18,514
Accrued expenses and other liabilities 65,766 79,375
TOTAL LIABILITIES 6,570,896 6,405,389
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, 21,685,504 at June 30, 2025 and 21,535,856 at December 31, 2024; outstanding shares, 17,636,264 at June 30, 2025 and 17,586,616 at December 31, 2024) 18,078 17,953
Surplus 350,246 348,264
Treasury stock at cost (4,049,240 shares at June 30, 2025 and 3,949,240 shares at December 31, 2024) (120,287) (117,509)
Retained earnings 437,321 423,552
Accumulated other comprehensive loss, net of income tax (55,581) (66,411)
TOTAL SHAREHOLDERS’ EQUITY 629,777 605,849
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 7,200,673 $ 7,011,238
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank."
[2] Interest-bearing checking includes $1.66 billion at June 30, 2025 and $1.57 billion at December 31, 2024 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.
[3] Money market includes $106.6 million at June 30, 2025 and $85.3 million at December 31, 2024 of reciprocal balances in the Promontory Demand Deposit Marketplace program.