v3.25.4
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Cash and cash equivalents:    
Cash $ 28,511 $ 35,478
Interest-bearing deposits 97,643 104,361
Total cash and cash equivalents 126,154 139,839
Available-for-sale securities, at fair value (Note 3) 92,196 104,970
Held-to-maturity securities, net of allowance for credit losses of $236 and $216 at December 31, 2025 and 2024, respectively; at amortized cost (fair value 2025 $268,875; 2024 $355,294) (Note 3) 272,982 367,938
Placements with banks 249 249
Mortgage loans held for sale, at fair value (Note 4) 3,388 10,736
Loans receivable, net of allowance for credit losses of $25,449 and $22,502 at December 31, 2025 and 2024, respectively (Note 5) 2,599,258 2,286,599
Accrued interest receivable 17,905 17,771
Premises and equipment, net (Note 6) 15,638 16,794
Right of use assets (Note 7) 27,583 29,093
Federal Home Loan Bank of New York (FHLBNY) stock, at cost 29,309 29,182
Federal Reserve Bank of New York (FRBNY) stock, at cost 10,698 0
Deferred tax assets (Note 10) 11,501 12,074
Other assets 17,109 24,693
Total assets 3,223,970 3,039,938
Liabilities:    
Deposits (Note 8) 2,046,635 1,895,213
Borrowings (Note 9) 596,100 596,100
Operating lease liabilities 29,353 30,696
Accrued interest payable 3,788 3,712
Other liabilities 6,545 8,717
Total liabilities 2,682,421 2,534,438
Commitments and contingencies (Note 13)
Stockholders' Equity:    
Preferred stock, $0.01 par value; 100,000,000 shares authorized: Series A, senior non-cumulative perpetual, $1,000 per share liquidation preference, 225,000 shares issued and outstanding as of December 31, 2025 and 2024 225,000 225,000
Common stock, $0.01 par value; 200,000,000 shares authorized; 24,886,711 shares issued at both December 31, 2025 and 2024; 24,135,926 and 23,961,214 shares outstanding as of December 31, 2025 and 2024, respectively 249 249
Treasury stock, at cost; 750,785 and 925,497shares as of December 31, 2025 and 2024, respectively (Note 11) (6,164) (7,707)
Additional paid-in-capital 208,604 207,319
Retained earnings 135,332 107,754
Accumulated other comprehensive loss (Note 16) (10,820) (15,297)
Unearned Employee Stock Ownership Plan (ESOP); 1,168,244 and 1,301,988 shares as of December 31, 2025 and 2024, respectively (Note 11) (10,652) (11,818)
Total stockholders' equity 541,549 505,500
Total liabilities and stockholders' equity $ 3,223,970 $ 3,039,938