v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities:      
Net income $ 28,703 $ 10,972 $ 3,352
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of premiums/discounts on securities, net (56) (121) (118)
Gain on sale of loans (1,026) (1,201) (558)
Microloans (recoveries) write-off 0 (201) (1,481)
Provision for credit losses 3,783 1,334 973
Depreciation and amortization 4,818 4,737 4,526
ESOP compensation expense 2,226 1,474 1,142
Share-based compensation expense 1,928 2,074 1,886
Deferred income taxes (benefit) (634) 2,169 1,258
Changes in assets and liabilities:      
Decrease (increase) in mortgage loans held for sale, at fair value 12,611 292 (7,403)
Increase (decrease) in accrued interest receivable (134) 239 (2,961)
Decrease (increase) in other assets 7,584 30 (10,735)
(Decrease) increase in accrued interest payable 76 (8,253) 10,575
Decrease in operating lease liabilities (2,690) (2,565) (2,421)
Net (decrease) increase in other liabilities (1,595) (3,768) 8,458
Net cash provided by operating activities 55,594 7,212 6,493
Cash Flows From Investing Activities:      
Net (purchase) redemption of FHLBNY Stock (127) (9,791) 5,273
Purchase of FRBNY stock (10,698)    
Proceeds from maturities, calls and principal repayments on securities 113,450 109,486 60,954
Placements with banks 0   1,245
Proceeds from sales of loans 7,812 2,569 2,779
Net increase in loans (329,177) (388,488) (402,748)
Purchase of loans   (5,956)  
Purchases of premises and equipment (978) (2,718) (411)
Net cash used in investing activities (219,718) (294,898) (332,908)
Cash Flows From Financing Activities:      
Net increase in deposits 151,422 377,244 255,208
Stock options exercised 142    
Repurchase of treasury stock     (11,009)
Dividends paid on preferred stock (1,125) (588)  
Net (repayments) proceeds from borrowings 0 (88,321) 167,046
Net cash provided by financing activities 150,439 288,335 411,245
Net decrease (increase) in cash and cash equivalents (13,685) 649 84,830
Cash and Cash Equivalents, including restricted cash:      
Cash and cash equivalents at beginning of year 139,839 139,190 54,360
Cash and cash equivalents at end of year 126,154 139,839 139,190
Supplemental disclosures of cash flow information:      
Interest 85,638 94,410 50,026
Income taxes 8,455 2,184 1,006
Supplemental Disclosures of Noncash Investing Activities:      
Loans receivable $ (4,641) $ 824 $ 4,100