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Consolidated Balance Sheet — Unaudited - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and due from banks $ 68,288 $ 58,025
Interest earning deposits 3,351,686 397,781
Cash and cash equivalents 3,419,974 455,806
Investment securities, at fair value (includes allowance for credit losses of $3,849 and $578, respectively) 2,773,207 2,987,500
Investment securities held to maturity 1,178,370 840,259
Loans held for sale (includes $25,520 and $322, respectively, at fair value) 150,368 328,312
Loans receivable, mortgage warehouse, at fair value 962,566 1,323,312
Loans receivable, PPP 137,063 998,153
Loans and leases receivable 12,463,485 13,144,894
Allowance for credit losses on loans and leases (139,213) (130,924)
Total loans and leases receivable, net of allowance for credit losses on loans and leases 13,423,901 15,335,435
FHLB, Federal Reserve Bank, and other restricted stock 126,098 74,196
Accrued interest receivable 123,984 123,374
Bank premises and equipment, net 7,789 9,025
Bank-owned life insurance 291,670 338,441
Goodwill and other intangibles 3,629 3,629
Other assets 358,162 400,135
Total assets 21,857,152 20,896,112
Deposits:    
Demand, non-interest bearing 4,758,682 1,885,045
Interest bearing 13,436,682 16,271,908
Total deposits 18,195,364 18,156,953
FHLB advances 1,529,839 800,000
Other borrowings 123,775 123,580
Subordinated debt 182,161 181,952
Accrued interest payable and other liabilities 264,406 230,666
Total liabilities 20,295,545 19,493,151
Commitments and contingencies (NOTE 15)
Shareholders’ equity:    
Preferred stock, par value $1.00 per share; liquidation preference $25.00 per share; 100,000,000 shares authorized, 5,700,000 shares issued and outstanding as of September 30, 2023 and December 31, 2022 137,794 137,794
Common stock, par value $1.00 per share; 200,000,000 shares authorized; 35,329,690 and 35,012,250 shares issued as of September 30, 2023 and December 31, 2022; 31,311,254 and 32,373,697 shares outstanding as of September 30, 2023 and December 31, 2022 35,330 35,012
Additional paid in capital 559,346 551,721
Retained earnings 1,101,359 924,134
Accumulated other comprehensive income (loss), net (149,812) (163,096)
Treasury stock, at cost (4,018,436 and 2,638,553 shares as of September 30, 2023 and December 31, 2022) (122,410) (82,604)
Total shareholders’ equity 1,561,607 1,402,961
Total liabilities and shareholders’ equity $ 21,857,152 $ 20,896,112