v3.25.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest and dividend income        
Interest and fees on loans $ 95,005 $ 92,728 $ 188,037 $ 185,687
Interest and dividends on securities:        
Interest 20,186 18,209 41,599 30,750
Dividends 28 33 56 66
Other interest income 2,183 2,260 4,246 6,226
Total interest and dividend income 117,402 113,230 233,938 222,729
Interest expense        
Deposits 59,037 60,893 116,211 118,758
Other interest expense 5,156 9,561 11,529 18,798
Total interest expense 64,193 70,454 127,740 137,556
Net interest income (loss) 53,209 42,776 106,198 85,173
Provision (benefit) for credit losses 4,194 809 8,512 1,401
Net interest income after provision (benefit) for credit losses 49,015 41,967 97,686 83,772
Non-interest income (loss)        
Banking services fee income 1,948 1,583 3,469 2,977
Net gain (loss) on sale of loans 2,757 26 3,387 136
Net gain (loss) from fair value adjustments 1,656 57 1,504 (777)
Federal Home Loan Bank of New York stock dividends 428 669 1,125 1,412
Bank owned life insurance 2,835 1,223 4,409 2,423
Other income 653 658 1,457 1,129
Total non-interest income (loss) 10,277 4,216 15,351 7,300
Non-interest expense        
Salaries and employee benefits 22,648 21,723 45,544 43,836
Occupancy and equipment 4,005 3,713 8,097 7,492
Professional services 3,452 2,786 6,337 5,578
FDIC deposit insurance 1,508 1,322 3,217 2,974
Data processing 1,806 1,785 3,674 3,512
Depreciation and amortization of bank premises and equipment 1,367 1,425 2,740 2,882
Other real estate owned / foreclosure expense 220 125 565 270
Impairment of goodwill     17,636 0
Other operating expenses 5,350 6,168 12,222 12,395
Total non-interest expense 40,356 39,047 100,032 78,939
Income (loss) before income taxes 18,936 7,136 13,005 12,133
Provision (benefit) for income taxes        
Federal 3,171 1,198 5,343 2,099
State and local 1,562 616 3,255 1,028
Total provision (benefit) for income taxes 4,733 1,814 8,598 3,127
Net income (loss) $ 14,203 $ 5,322 $ 4,407 $ 9,006
Basic earnings (loss) per common share (in dollars per share) $ 0.41 $ 0.18 $ 0.12 $ 0.3
Diluted earnings (loss) per common share (in dollars per share) $ 0.41 $ 0.18 $ 0.12 $ 0.3