v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest and dividend income:      
Interest on loans receivable $ 162,512 $ 130,512 $ 95,805
Interest on deposits due from banks 4,662 8,666 4,973
Interest and dividend on securities and FHLBNY stock 18,351 23,459 25,089
Total interest and dividend income 185,525 162,637 125,867
Interest expense:      
Interest on certificates of deposit 28,395 27,768 16,571
Interest on other deposits 36,714 30,924 18,570
Interest on borrowings 20,605 27,465 25,460
Total interest expense 85,714 86,157 60,601
Net interest income 99,811 76,480 65,266
Provision for credit losses (Note 3) (Note 5) 3,783 551 3,284
Net interest income after provision (benefit) for credit losses 96,028 75,929 61,982
Non-interest income:      
Service charges and fees 2,117 1,973 1,986
Brokerage commissions 35 61 80
Late and prepayment charges 2,785 1,180 2,365
Income on sale of mortgage loans 622 1,048 598
Income on sale of SBA loans 404 148  
Grant income 1,285   4,156
Other 2,164 2,803 1,038
Total non-interest income 9,412 7,213 10,223
Non-interest expense:      
Compensation and benefits 31,388 30,910 30,699
Occupancy and equipment 15,787 14,880 14,568
Data processing expenses 4,859 4,382 5,083
Direct loan expenses 900 2,555 1,623
Insurance and surety bond premiums 1,254 1,101 1,018
Office supplies, telephone and postage 700 998 1,483
Professional fees 5,532 6,146 7,092
Microloans recoveries   (201) (1,481)
Marketing and promotional expenses 627 714 825
Federal deposit insurance and regulatory assessment 1,370 1,627 1,472
Other operating expenses 4,592 4,345 3,970
Total non-interest expense 67,009 67,457 66,352
Income before income taxes 38,431 15,685 5,853
Provision for income taxes (Note 10) 9,728 4,713 2,501
Net income 28,703 10,972 3,352
Dividends on preferred shares 1,125 638  
Net income (loss) available to common stockholders $ 27,578 $ 10,334 $ 3,352
Earnings per share: (Note 12)      
Basic $ 1.21 $ 0.46 $ 0.15
Diluted $ 1.2 $ 0.46 $ 0.15
Weighted average shares outstanding: (Note 12)      
Basic 22,746,226 22,434,654 22,745,317
Diluted 23,060,669 22,551,715 22,822,313