CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)
$ in Thousands |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Assets |
|
|
| Cash and due from banks |
$ 28,864
|
$ 8,692
|
| Overnight deposits |
2,330,486
|
855,613
|
| Total cash and cash equivalents |
2,359,350
|
864,305
|
| Investment securities available for sale, at fair value |
566,624
|
266,096
|
| Investment securities held to maturity (estimated fair value of $380.1 million and $2.8 million at December 31, 2021 and 2020, respectively) |
382,099
|
2,760
|
| Equity investment securities, at fair value |
2,273
|
2,313
|
| Total securities |
950,996
|
271,169
|
| Other investments |
11,998
|
11,597
|
| Loans, net of deferred fees and unamortized costs |
3,731,929
|
3,137,053
|
| Allowance for loan losses |
(34,729)
|
(35,407)
|
| Net loans |
3,697,200
|
3,101,646
|
| Receivable from global payments business, net |
39,864
|
27,259
|
| Accrued interest receivable |
15,195
|
13,249
|
| Premises and equipment, net |
15,116
|
13,475
|
| Prepaid expenses and other assets |
16,906
|
18,388
|
| Goodwill |
9,733
|
9,733
|
| Total assets |
7,116,358
|
4,330,821
|
| Deposits: |
|
|
| Noninterest-bearing demand deposits |
3,668,673
|
1,726,135
|
| Interest-bearing deposits |
2,766,899
|
2,103,471
|
| Total deposits |
6,435,572
|
3,829,606
|
| Trust preferred securities |
20,620
|
20,620
|
| Subordinated debt, net of issuance cost |
24,712
|
24,657
|
| Secured borrowing |
32,461
|
36,964
|
| Accounts payable, accrued expenses and other liabilities |
36,411
|
61,645
|
| Accrued interest payable |
746
|
712
|
| Prepaid third-party debit cardholder balances |
8,847
|
15,830
|
| Total liabilities |
6,559,369
|
3,990,034
|
| Commitments and Contingencies (See Note 11) |
|
|
| Stockholders' equity: |
|
|
| Common stock, $0.01 par value, 25,000,000 shares authorized, 10,920,569 and 8,295,272 shares issued and outstanding at December 31, 2021 and 2020, respectively |
109
|
82
|
| Additional paid in capital |
382,999
|
218,899
|
| Retained earnings |
181,385
|
120,830
|
| Accumulated other comprehensive income (loss), net of tax |
(7,504)
|
973
|
| Total stockholders' equity |
556,989
|
340,787
|
| Total liabilities and stockholders' equity |
$ 7,116,358
|
4,330,821
|
| Class B Preferred Stock |
|
|
| Stockholders' equity: |
|
|
| Class B preferred stock, $0.01 par value, authorized 2,000,000 shares, 0 and 272,636 issued and outstanding at December 31, 2021 and 2020, respectively) |
|
$ 3
|