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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Assets    
Cash and due from banks $ 9,529 $ 8,116
Overnight deposits 813,147 381,104
Total cash and cash equivalents 822,676 389,220
Investment securities available for sale, at fair value 189,359 234,942
Investment securities held to maturity (estimated fair value of $3,406 and $3,712 at June 30, 2020 and December 31, 2019 respectively) 3,319 3,722
Equity investment securities 2,301 2,224
Total securities 194,979 240,888
Other investments 15,731 21,437
Loans, net of deferred fees and unamortized costs 2,892,274 2,672,949
Allowance for loan losses (32,505) (26,272)
Net loans 2,859,769 2,646,677
Receivable from prepaid card programs, net 31,123 11,581
Accrued interest receivable 11,148 8,862
Premises and equipment, net 15,065 12,100
Prepaid expenses and other assets 10,217 17,074
Goodwill 9,733 9,733
Total assets 3,970,441 3,357,572
Deposits:    
Noninterest-bearing demand deposits 1,526,439 1,090,479
Interest-bearing deposits 1,868,300 1,700,295
Total deposits 3,394,739 2,790,774
Federal Home Loan Bank of New York advances 104,000 144,000
Trust preferred securities 20,620 20,620
Subordinated debt, net of issuance cost 24,629 24,601
Secured borrowing 41,948 42,972
Accounts payable, accrued expenses and other liabilities 34,780 23,556
Accrued interest payable 1,199 1,229
Prepaid third-party debit cardholder balances 31,357 10,696
Total liabilities 3,653,272 3,058,448
Stockholders' equity:    
Common stock, $0.01 par value, 25,000,000 shares authorized, 8,294,801 and 8,312,918 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 82 82
Additional paid in capital 217,643 216,468
Retained earnings 98,272 81,364
Accumulated other comprehensive gain, net of tax effect 1,169 1,207
Total stockholders' equity 317,169 299,124
Total liabilities and stockholders' equity 3,970,441 3,357,572
Class B Preferred Stock    
Stockholders' equity:    
Class B preferred stock, $0.01 par value, authorized 2,000,000 shares, 272,636 issued and outstanding at June 30, 2020 and December 31, 2019 3 3
Total stockholders' equity $ 3 $ 3