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Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
ASSETS:    
Cash and due from banks $ 47,766 $ 47,196
Federal funds sold and other short term investments 1,134,622 1,059,903
Total cash and cash equivalents 1,182,388 1,107,099
Securities available for sale 482,815 439,071
Held to maturity securities ($12,707 and $14,988 fair value at June 30, 2021 and December 31, 2020, respectively) 11,665 13,824
Federal Reserve Bank and Federal Home Loan Bank stock 5,604 5,506
Loans, net of deferred net costs 4,349,367 4,244,470
Less: Allowance for loan losses 50,155 49,595
Net loans 4,299,212 4,194,875
Bank premises and equipment, net 33,691 34,412
Operating lease right-of-use assets 45,825 47,885
Other assets 61,378 59,124
Total assets 6,122,578 5,901,796
Deposits:    
Demand 765,193 652,756
Interest-bearing checking 1,152,901 1,086,558
Savings accounts 1,409,556 1,285,501
Money market deposit accounts 732,963 716,005
Time deposits 1,169,907 1,296,373
Total deposits 5,230,520 5,037,193
Short-term borrowings 237,791 214,755
Operating lease liabilities 50,586 52,784
Accrued expenses and other liabilities 25,088 28,903
Total liabilities 5,543,985 5,333,635
SHAREHOLDERS' EQUITY:    
Capital stock par value $1; 30,000,000 shares authorized; 20,040,636 and 20,040,966 shares issued, and 19,264,941 and 19,286,531 shares outstanding at June 30, 2021 and December 31, 2020, respectively [1],[2] 20,041 20,041
Surplus [1] 256,536 256,606
Undivided profits 329,350 313,974
Accumulated other comprehensive income, net of tax 7,840 11,936
Treasury stock at cost - 775,695 and 754,435 shares at June 30, 2021 and December 31, 2020, respectively (2) [2] (35,174) (34,396)
Total shareholders' equity [1] 578,593 568,161
Total liabilities and shareholders' equity $ 6,122,578 $ 5,901,796
[1] All periods presented have been adjusted for the 1 for 5 reverse stock split which occurred on May 28, 2021.
[2] Share amounts have been adjusted for all periods presented for the 1 for 5 reverse stock split which occurred on May 28, 2021.