v3.25.2
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Cash and cash equivalents:    
Cash and due from banks $ 49,810 $ 58,522
Money market investments 505 503
Total cash and cash equivalents 50,315 59,025
Investment securities:    
Available-for-sale 44,522 48,030
Held-to-maturity 1,750 2,008
Investments, Total 46,272 50,038
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 613,684 622,878
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (6,337) (5,871)
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss, Total 607,347 617,007
Premises and equipment, net 2,010 2,567
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost 853 2,004
Accrued interest receivable 2,980 3,662
Right-of-use assets 8,247 9,844
Other assets 11,967 12,649
Total assets 729,991 756,796
Deposits:    
Non-interest bearing checking 89,538 102,013
Interest-bearing checking 44,453 46,358
Savings 111,365 113,187
Money market 161,592 159,105
Certificates of deposit 252,129 223,719
Escrow 2,760 2,617
Interest-bearing Deposit Liabilities, Domestic, Total 572,299 544,986
Total deposits 661,837 646,999
Advances from the FHLB-NY and other borrowed money 20,243 46,536
Operating lease liability 8,869 10,616
Other liabilities 9,464 10,336
Total liabilities 700,413 714,487
EQUITY    
Common stock 78 77
Additional paid-in capital 87,920 87,660
Accumulated deficit (65,293) (51,549)
Treasury Stock, at cost (2,908) (2,908)
Accumulated other comprehensive loss (11,953) (12,705)
Total equity 29,578 42,309
Total liabilities and equity 729,991 756,796
Series D Preferred Stock    
EQUITY    
Preferred stock $ 9,557 $ 9,557
Preferred Stock, Shares Issued (in shares) 9,557 9,557
Preferred Stock, Shares Outstanding (in shares) 9,557 9,557
Series E Preferred Stock    
EQUITY    
Preferred stock $ 3,177 $ 3,177
Preferred Stock, Shares Issued (in shares) 3,177 3,177
Preferred Stock, Shares Outstanding (in shares) 3,177 3,177
Series F Preferred Stock    
EQUITY    
Preferred stock $ 9,000 $ 9,000
Preferred Stock, Shares Issued (in shares) 9,000 9,000
Preferred Stock, Shares Outstanding (in shares) 9,000 9,000
Real Estate    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 423,023 $ 437,577
Business    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [1] 164,964 169,602
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (1,646) (1,415)
Consumer    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [2] 25,697 15,699
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest $ (593) $ (450)
[1] 1) Includes business overdrafts of $50 thousand and $73 thousand as of March 31, 2025 and 2024, respectively
[2]
(2) Includes consumer overdrafts of $18 thousand and $15 thousand as of March 31, 2025 and 2024, respectively