v3.25.2
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Cash and cash equivalents:    
Cash and due from banks $ 844,492 $ 584,467
Money market investments 7,306 6,670
Total cash and cash equivalents 851,798 591,137
Investments:    
Trading securities, at fair value, with amortized cost of $163 (December 31, 2024 - $163) 18 18
Investment securities available-for-sale, at fair value, with amortized cost of $2,465,673 (December 31, 2024 - $2,444,135); no allowance for credit losses 2,408,874 2,338,205
Investment securities held-to-maturity, at amortized cost, with fair value of $264,729 (December 31, 2024 - $267,174); no allowance for credit losses 316,186 327,158
Equity securities 59,556 54,896
Total investments 2,784,634 2,720,277
Loans:    
Loans held-for-sale, at lower of cost or fair value 18,952 17,732
Loans held-for-investment, net of allowance for credit losses of $189,944 (December 31, 2024 - $175,863) 7,990,647 7,616,099
Total loans 8,009,599 7,633,831
Other assets:    
Foreclosed real estate 2,603 4,002
Accrued interest receivable 73,782 71,667
Deferred tax assets, net 7,048 6,248
Premises and equipment, net 102,095 104,512
Customers' liability on acceptances 27,572 31,526
Servicing assets 68,588 70,435
Goodwill 84,241 84,241
Other intangible assets 12,318 14,782
Operating lease right-of-use assets 17,284 19,197
Other assets 189,948 148,879
Total assets 12,231,510 11,500,734
Deposits:    
Demand deposits 5,801,400 5,627,406
Savings accounts 2,131,076 2,064,916
Time deposits 2,211,689 1,912,464
Total deposits 10,144,165 9,604,786
Borrowings:    
Securities sold under agreements to repurchase 27,463 75,222
Advances from the FHLB 456,530 325,952
Total borrowings 483,993 401,174
Other liabilities:    
Acceptances executed and outstanding 27,572 31,526
Operating lease liabilities 19,354 21,388
Deferred tax liabilities, net 48,374 40,718
Accrued expenses and other liabilities 173,599 146,771
Total liabilities 10,897,057 10,246,363
Commitments and contingencies (See Note 19)
Stockholders’ equity:    
Common stock, $1 par value; 100,000,000 shares authorized; 59,885,234 shares issued: 44,741,933 shares outstanding (December 31, 2024 - 59,885,234 shares issued; 45,440,269 shares outstanding) 59,885 59,885
Additional paid-in capital 639,901 639,786
Legal surplus 178,834 169,537
Retained earnings 833,187 771,993
Treasury stock, at cost, 15,143,301 shares (December 31, 2024 - 14,444,965 shares) (328,572) (296,991)
Accumulated other comprehensive loss, net of tax of $8,017 (December 31, 2024 - $16,091) (48,782) (89,839)
Total stockholders’ equity 1,334,453 1,254,371
Total liabilities and stockholders’ equity $ 12,231,510 $ 11,500,734