Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Assets    
Cash and due from banks $ 608,965 $ 391,849
Securities available for sale, at fair value (amortized cost of $922,654 and $749,458 as of December 31, 2021 and 2020, respectively) 910,790 753,781
Loans held for sale, at the lower of cost or fair value 13,342 8,568
Loans receivable, net of allowance for credit losses of $72,557 and $90,426 as of December 31, 2021 and 2020, respectively 5,078,984 4,789,742
Accrued interest receivable 11,976 16,363
Premises and equipment, net 24,788 26,431
Customers' liability on acceptances   1,319
Servicing assets 7,080 6,212
Goodwill and other intangible assets, net 11,395 11,612
Federal Home Loan Bank ("FHLB") stock, at cost 16,385 16,385
Income tax assets 44,060 42,704
Bank-owned life insurance 54,905 53,894
Prepaid expenses and other assets 75,917 83,028
Total assets 6,858,587 6,201,888
Deposits:    
Noninterest-bearing 2,574,517 1,898,766
Interest-bearing 3,211,752 3,376,242
Total deposits 5,786,269 5,275,008
Accrued interest payable 1,161 4,564
Bank's liability on acceptances   1,319
Borrowings 137,500 150,000
Subordinated debentures ($224,100 and $126,800 face amount less unamortized discount and debt issuance costs of $9,094 and $7,828 as of December 31, 2021 and 2020, respectively) 215,006 118,972
Accrued expenses and other liabilities 75,234 74,981
Total liabilities 6,215,170 5,624,844
Stockholders' equity:    
Preferred Stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of December 31, 2021 and December 31, 2020
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 33,603,839 shares (30,407,261 shares outstanding) and 33,560,801 shares (30,717,835 shares outstanding) as of December 31, 2021 and 2020, respectively 33 33
Additional paid-in capital 580,796 578,360
Accumulated other comprehensive income, net of tax benefit of $3,421 and net of tax expense of $1,247 as of December 31, 2021 and 2020, respectively (8,443) 3,076
Retained earnings 196,784 114,621
Less: treasury stock; 3,196,578 shares and 2,842,966 shares as of December 31, 2021 and 2020, respectively (125,753) (119,046)
Total stockholders' equity 643,417 577,044
Total liabilities and stockholders' equity $ 6,858,587 $ 6,201,888