Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Assets    
Cash and due from banks $ 391,849 $ 121,678
Securities available for sale, at fair value (amortized cost of $749,458 as of December 31, 2020 and $629,725 as of December 31, 2019) 753,781 634,477
Loans held for sale, at the lower of cost or fair value 8,568 6,020
Loans receivable, net of allowance for credit losses of $90,426 as of December 31, 2020 and $61,408 as of December 31, 2019 4,789,742 4,548,739
Accrued interest receivable 16,363 11,742
Premises and equipment, net 26,431 26,070
Customers' liability on acceptances 1,319 66
Servicing assets 6,212 6,956
Goodwill and other intangible assets, net 11,612 11,873
Federal Home Loan Bank ("FHLB") stock, at cost 16,385 16,385
Income tax assets 42,704 36,787
Bank-owned life insurance 53,894 52,782
Prepaid expenses and other assets 83,028 64,609
Total assets 6,201,888 5,538,184
Deposits:    
Noninterest-bearing 1,898,766 1,391,624
Interest-bearing 3,376,242 3,307,338
Total deposits 5,275,008 4,698,962
Accrued interest payable 4,564 11,215
Bank's liability on acceptances 1,319 66
Borrowings 150,000 90,000
Subordinated debentures ($126,800 face amount less unamortized discount and debt issuance costs of $7,828) as of December 31, 2020 and ($126,800 face amount less unamortized discount and debt issuance costs of $8,423) as of December 31, 2019 118,972 118,377
Accrued expenses and other liabilities 74,981 56,297
Total liabilities 5,624,844 4,974,917
Stockholders' equity:    
Preferred Stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of December 31, 2020 and December 31, 2019
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 33,560,801 shares (30,717,835 shares outstanding) as of December 31, 2020 and 33,475,402 shares (30,799,624 shares outstanding) as of December 31, 2019 33 33
Additional paid-in capital 578,360 575,816
Accumulated other comprehensive income, net of tax expense of $1,247 as of December 31, 2020 and $1,370 as of December 31, 2019 3,076 3,382
Retained earnings 114,621 100,551
Less: treasury stock; 2,842,966 shares as of December 31, 2020 and 2,675,778 shares as of December 31, 2019 (119,046) (116,515)
Total stockholders' equity 577,044 563,267
Total liabilities and stockholders' equity $ 6,201,888 $ 5,538,184