v3.25.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from financial institutions $ 35,825 $ 26,224
Interest-earning deposits in other financial institutions 284,226 20,811
Total cash and cash equivalents 320,051 47,035
Equity investments, at estimated fair value 3,387 3,235
Securities available for sale, at estimated fair value (amortized cost of $343,032, at June 30, 2025 and $617,271 at December 31, 2024, net of allowance for credit losses of $0 at June 30, 2025 and December 31, 2024, respectively) 287,335 531,442
Securities held to maturity, at amortized cost (estimated fair value of $680 at June 30, 2025 and $808 at December 31, 2024, respectively, net of allowance for credit losses of $0 at June 30, 2025 and December 31, 2024, respectively) 680 808
FHLBNY and FRBNY stock, at cost 6,826 9,117
Loans, net of deferred loan fees 2,132,414 2,071,419
Allowance for credit losses (22,665) (21,388)
Loans, net 2,109,749 2,050,031
Loans held for sale 2,212 0
Premises and equipment, net 15,438 16,375
Operating lease right-of-use assets 5,139 5,446
Goodwill 21,824 21,824
Bank-owned life insurance 2,968 2,952
Interest rate swap assets 18,727 23,829
Accrued interest receivable and other assets 58,152 64,053
Total assets 2,852,488 2,776,147
Deposits:    
Non interest-bearing 624,389 625,762
Interest-bearing 1,844,573 1,771,121
Total deposits 2,468,962 2,396,883
Overnight and short-term advances 55,000 109,110
Subordinated debt, net of issuance costs of $854 and $0, respectively 44,146 0
Long term finance lease obligation 3,616 3,779
Operating lease liabilities 5,319 5,629
Interest rate swap liabilities 18,815 23,851
Accrued interest payable and other liabilities 21,664 21,586
Total liabilities 2,617,522 2,560,838
Shareholders' equity:    
Common stock, $0.01 par value per share, 10,000,000 shares authorized; 5,310,076 issued at June 30, 2025 and December 31, 2024 53 53
Additional paid-in capital 48,502 48,783
Retained earnings 244,211 247,705
Treasury stock, at cost; $517,898 shares at June 30, 2025 and $555,881 shares at December 31, 2024 (15,095) (16,167)
Accumulated other comprehensive loss (42,705) (65,065)
Total shareholders' equity 234,966 215,309
Total liabilities and shareholders' equity $ 2,852,488 $ 2,776,147