v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2025
Jun. 30, 2024
Cash flows from operating activities:        
Net income $ 9,600,000 $ 6,611,000 $ 20,287,000 $ 15,260,000
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 1,253,000 1,316,000 1,899,000 2,596,000
Provision for credit losses 220,000 1,870,000 3,695,000 2,700,000
Net accretion on securities (1,345,000) (820,000) (4,664,000) (1,863,000)
ESOP compensation 283,000 229,000 627,000 472,000
(Earnings) loss on bank-owned life insurance 53,000 124,000 (492,000) 313,000
Net gain on sale or write-down of other real estate owned (35,000)   (65,000) (55,000)
Proceeds from sale of loans 3,024,000 92,000 2,685,000 92,000
Net (gain) loss on sale of loans (33,000) 8,000 (48,000) 9,000
Loss on sale, disposal or impairment of premises and equipment, net 1,199,000   4,000 288,000
Goodwill impairment loss 0 0 2,000,000 0
Gain on termination of finance lease, net     (11,000)  
Net gain on equity securities   (349,000)   (735,000)
Net (gain) loss on securities available for sale transactions (165,000) 5,645,000   5,645,000
Net gain on calls of securities held to maturity     (128,000)  
Stock-based compensation expense 687,000   1,267,000 154,000
Deferred tax (benefit) expense 342,000 4,000 (2,235,000) (188,000)
Increase in accrued interest receivable (378,000) (484,000) (952,000) (365,000)
(Increase) decrease in other assets (1,418,000) (1,214,000) (2,275,000) 1,992,000
(Decrease) increase in other liabilities 3,560,000 (1,545,000) (10,471,000) (2,488,000)
Changes in operating leases 6,000 12,000 (6,000) 20,000
Net cash provided by operating activities 16,853,000 11,499,000 11,117,000 23,847,000
Cash flows from investing activities:        
Proceeds from maturities, paydowns and calls of securities available for sale 77,696,000 71,780,000 212,749,000 143,550,000
Proceeds from sales of securities available for sale 350,000 74,462,000 0 74,462,000
Purchases of securities available for sale (140,157,000) (26,597,000) (101,950,000) (32,687,000)
Proceeds from maturities and paydowns of securities held to maturity 2,414,000 1,958,000 20,782,000 2,651,000
Purchases of securities held to maturity (2,678,000) (1,801,000) (37,010,000) (4,054,000)
Proceeds from sales of equity securities       3,149,000
Net purchases of FHLBNY and FRBNY stock (1,737,000) (50,000) (807,000) (2,350,000)
Net increase in loans receivable (93,473,000) (119,033,000) (218,558,000) (200,057,000)
Purchases of premises and equipment (753,000) (534,000) (2,317,000) (838,000)
Proceeds from the sale of premises and equipment 2,250,000      
Proceeds from bank-owned life insurance death benefit     1,142,000  
Proceeds from sale of other real estate owned 188,000   660,000 106,000
Cash paid for acquisitions   (1,980,000) (480,000) (1,980,000)
Net cash used in investing activities (155,900,000) (1,795,000) (125,789,000) (18,048,000)
Cash flows from financing activities:        
Net increase (decrease) in deposits 35,931,000 (19,756,000) 152,995,000 8,401,000
Net increase (decrease) in mortgagors' escrow deposits (1,604,000) (618,000) 1,032,000 1,813,000
Proceeds from exercise of stock options     76,000  
Proceeds from FHLBNY borrowings, net 40,000,000   10,000,000  
Payments on acquisition contingent consideration (750,000) (124,000) (750,000) (124,000)
Repurchase of common stock (3,146,000)   (11,294,000) (1,075,000)
Purchase of employee restricted shares to fund statutory tax withholding     (145,000)  
Repayment of finance lease liability (53,000) (50,000) (88,000) (102,000)
Net cash provided by (used in) financing activities 70,378,000 (20,548,000) 151,826,000 8,913,000
Net increase (decrease) in cash and cash equivalents (68,669,000) (10,844,000) 37,154,000 14,712,000
Cash and cash equivalents at beginning of period 165,190,000 150,478,000 96,521,000 150,478,000
Cash and cash equivalents at end of period 96,521,000 139,634,000 133,675,000 165,190,000
Cash paid during the period for:        
Interest 13,356,000 9,579,000 30,024,000 21,751,000
Income taxes $ 2,700,000 3,000,000 9,250,000 5,000,000
Non-cash investing and financing activity:        
Loans transferred to other real estate owned   51,000 595,000 204,000
Acquisition contingent consideration payable   1,499,000 720,000 1,499,000
Right of use assets obtained in exchange for new finance lease liabilities       26,000
Right of use assets obtained in exchange for new operating lease liabilities   $ 199,000 $ 88,000 $ 199,000