Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets    
Cash and due from banks $ 352,421 $ 608,965
Securities available for sale, at fair value (amortized cost of $978,796 and $922,654 as of December 31, 2022 and 2021, respectively) 853,838 910,790
Loans held for sale, at the lower of cost or fair value 8,043 13,342
Loans receivable, net of allowance for credit losses of $71,523 and $72,557 as of December 31, 2022 and 2021, respectively 5,895,610 5,078,984
Accrued interest receivable 18,537 11,976
Premises and equipment, net 22,850 24,788
Customers' liability on acceptances 328  
Servicing assets 7,176 7,080
Goodwill and other intangible assets, net 11,225 11,395
Federal Home Loan Bank ("FHLB") stock, at cost 16,385 16,385
Income tax assets 51,924 44,060
Bank-owned life insurance 55,544 54,905
Prepaid expenses and other assets 84,381 75,917
Total assets 7,378,262 6,858,587
Deposits:    
Noninterest-bearing 2,539,602 2,574,517
Interest-bearing 3,628,470 3,211,752
Total deposits 6,168,072 5,786,269
Accrued interest payable 7,792 1,161
Bank's liability on acceptances 328  
Borrowings 350,000 137,500
Subordinated debentures ($136,800 and $224,100 face amount less unamortized discount and debt issuance costs of $7,391 and $9,094 as of December 31, 2022 and 2021, respectively) 129,409 215,006
Accrued expenses and other liabilities 85,146 75,234
Total liabilities 6,740,747 6,215,170
Stockholders' equity:    
Preferred Stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of December 31, 2022 and December 31, 2021
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 33,708,234 shares (30,485,621 shares outstanding) and 33,603,839 shares (30,407,261 shares outstanding) as of December 31, 2022 and 2021, respectively 33 33
Additional paid-in capital 583,410 580,796
Accumulated other comprehensive loss, net of tax benefit of $35,973 and $3,421 as of December 31, 2022 and 2021, respectively (88,985) (8,443)
Retained earnings 269,542 196,784
Less: treasury stock; 3,196,578 shares and 3,222,613 shares as of December 31, 2022 and 2021, respectively (126,485) (125,753)
Total stockholders' equity 637,515 643,417
Total liabilities and stockholders' equity $ 7,378,262 $ 6,858,587