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CONSOLIDATED STATEMENTS OF CONDITION - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Cash and due from banks $ 5,351 $ 5,914
Federal funds sold 101 101
Interest-earning deposits 298,575 154,758
Total cash and cash equivalents 304,027 160,773
Securities available for sale 378,839 377,936
Equity security, at fair value 4,847 4,719
FHLB and FRB stock, at cost 18,338 18,533
Loans held for sale, at fair value 2,343 1,576
Loans held for sale, at lower of cost or fair value 926 3,542
Loans 4,029,339 3,927,931
Less: Allowance for loan and lease losses 39,791 38,504
Net loans 3,989,548 3,889,427
Premises and equipment 20,987 27,408
Accrued interest receivable 11,594 10,814
Bank owned life insurance 45,744 45,353
Goodwill 24,417 24,417
Other intangible assets 7,524 7,982
Finance lease right-of-use assets 5,452  
Operating lease right-of-use assets 11,017  
Other assets 45,631 45,378
TOTAL ASSETS 4,871,234 4,617,858
Deposits:    
Noninterest-bearing demand deposits 544,431 463,926
Interest-bearing deposits:    
Checking [1] 1,388,821 1,247,305
Savings 112,438 114,674
Money market accounts 1,207,358 1,243,369
Certificates of deposit - retail 570,384 510,724
Certificates of deposit - listing service 58,541 79,195
Subtotal deposits 3,881,973 3,659,193
Interest-bearing demand - brokered 180,000 180,000
Certificates of deposit - brokered 33,682 56,147
Total deposits 4,095,655 3,895,340
Federal Home Loan Bank advances 105,000 108,000
Finance lease liabilities 7,985 8,362
Operating lease liabilities 11,269  
Subordinated debt, net 83,305 83,193
Deferred tax liabilities, net 15,464 16,029
Accrued expenses and other liabilities 58,668 37,921
TOTAL LIABILITIES 4,377,346 4,148,845
SHAREHOLDERS’ EQUITY    
Preferred stock (no par value; authorized 500,000 shares; liquidation preference of $1,000 per share)
Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued shares, 19,864,490 at June 30, 2019 and 19,745,840 at December 31, 2018; outstanding shares, 19,456,312 at June 30, 2019 and 19,337,662 at December 31, 2018 16,557 16,459
Surplus 311,428 309,088
Treasury stock at cost, 408,178 shares at both June 30, 2019 and December 31, 2018 (8,988) (8,988)
Retained earnings 176,495 154,799
Accumulated other comprehensive loss, net of income tax (1,604) (2,345)
TOTAL SHAREHOLDERS’ EQUITY 493,888 469,013
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY $ 4,871,234 $ 4,617,858
[1] Interest-bearing checking includes $453.1 million at June 30, 2019 and $434.5 million at December 31, 2018 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.