Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 302,324 $ 352,421
Securities available for sale, at fair value (amortized cost of $967,031 and $978,796 as of December 31, 2023 and 2022, respectively) 865,739 853,838
Loans held for sale, at the lower of cost or fair value 12,013 8,043
Loans receivable, net of allowance for credit losses of $69,462 and $71,523 as of December 31, 2023 and 2022, respectively 6,112,972 5,895,610
Accrued interest receivable 23,371 18,537
Premises and equipment, net 21,959 22,850
Customers' liability on acceptances 625 328
Servicing assets 7,070 7,176
Goodwill and other intangible assets, net 11,099 11,225
Federal Home Loan Bank ("FHLB") stock, at cost 16,385 16,385
Income tax assets 35,226 51,924
Bank-owned life insurance 56,335 55,544
Prepaid expenses and other assets 105,223 84,381
Total assets 7,570,341 7,378,262
Deposits:    
Noninterest-bearing 2,003,596 2,539,602
Interest-bearing 4,276,978 3,628,470
Total deposits 6,280,574 6,168,072
Accrued interest payable 39,306 7,792
Bank's liability on acceptances 625 328
Borrowings 325,000 350,000
Subordinated debentures ($136,800 and $136,800 face amount less unamortized discount and debt issuance costs of $6,788 and $7,391 as of December 31, 2023 and 2022, respectively) 130,012 129,409
Accrued expenses and other liabilities 92,933 85,146
Total liabilities 6,868,450 6,740,747
Stockholders' equity:    
Preferred Stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of December 31, 2023 and December 31, 2022
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 33,918,035 shares (30,368,655 shares outstanding) and 33,708,234 shares (30,485,621 shares outstanding) as of December 31, 2023 and 2022, respectively 34 33
Additional paid-in capital 586,912 583,410
Accumulated other comprehensive loss, net of tax benefit of $29,058 and $35,973 as of December 31, 2023 and 2022, respectively (71,928) (88,985)
Retained earnings 319,048 269,542
Less: treasury stock; 3,549,380 shares and 3,222,613 shares as of December 31, 2023 and 2022, respectively (132,175) (126,485)
Total stockholders' equity 701,891 637,515
Total liabilities and stockholders' equity $ 7,570,341 $ 7,378,262