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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash $ 203,186 $ 293,366
Interest-bearing deposits due from banks 4,433 27,289
Total cash and cash equivalents 207,619 320,655
Investment securities available for sale, at fair value (allowance for credit losses of $0 at March 31, 2024 and December 31, 2023) 914,029 946,282
Investment securities held to maturity (fair value of $681,857 at March 31, 2024 and $702,563 at December 31, 2023 and allowance for credit losses of $146 at March 31, 2024 and December 31, 2023) 827,107 836,377
Equity securities, at fair value 17,646 17,697
Federal Home Loan Bank and other membership bank stock, at cost 52,205 52,517
Loans held for sale 564 664
Loans, net of deferred fees 8,320,424 8,343,861
Less: Allowance for credit losses 76,823 77,163
Total loans, net 8,243,601 8,266,698
Premises and equipment, net 51,783 52,846
Operating lease right-of-use assets 15,009 16,008
Accrued interest receivable 37,968 37,508
Goodwill 271,829 271,829
Other intangible assets 6,623 7,058
Bank owned life insurance 160,587 159,862
Other assets 158,314 152,566
Total Assets 10,964,884 11,138,567
Liabilities    
Deposits 8,500,438 8,581,238
Federal funds purchased and securities sold under agreements to repurchase 602,956 714,152
Federal Home Loan Bank of New York term borrowings 325,000 325,000
Subordinated debentures 194,814 194,705
Operating lease liabilities 15,820 16,891
Other liabilities 146,426 137,212
Total Liabilities 9,785,454 9,969,198
Stockholders' Equity    
Common stock, no par value; authorized 100,000,000 shares; issued 65,285,261 shares and outstanding 65,154,226 shares at March 31, 2024 and issued 65,161,310 shares and outstanding 65,030,275 shares at December 31, 2023 859,712 858,857
Retained earnings 386,319 376,044
Treasury shares, at cost, 131,035 shares at March 31, 2024 and December 31, 2023 (1,452) (1,452)
Accumulated other comprehensive loss (65,149) (64,080)
Total Stockholders' Equity 1,179,430 1,169,369
Total Liabilities and Stockholders' Equity $ 10,964,884 $ 11,138,567