v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 5,290 $ 5,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 608 583
Provision for credit losses 780 800
Net accretion on securities (814) (1,187)
ESOP compensation 179 148
(Earnings) loss on bank-owned life insurance (6) 30
Loss on sale or disposal of premises and equipment, net   4
Gain on termination of finance lease, net (2)  
Stock-based compensation expense 360 351
Deferred tax benefit (1,455) (389)
Increase in trading securities (8,087)  
Increase in accrued interest receivable (617) (442)
(Increase) decrease in other assets (303) 680
Increase (decrease) in other liabilities 3,895 (9,868)
Changes in operating leases 11 1
Net cash used in operating activities (161) (3,526)
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of securities available for sale 26,099 61,589
Proceeds from sales of securities available for sale 0 0
Purchases of securities available for sale (7,000) (47,783)
Proceeds from maturities and paydowns of securities held to maturity 91 3,145
Purchases of securities held to maturity (3,000) (9,241)
Net purchases of FHLBNY and FRBNY stock 2,050 1,675
Net increase in loans receivable (55,531) (53,672)
Purchases of premises and equipment (636) (1,365)
Net cash used in investing activities (37,927) (45,652)
Cash flows from financing activities:    
Net increase in deposits 113,141 135,464
Net decrease in mortgagors' escrow deposits (1,837) (1,589)
Proceeds from exercise of stock options 47  
Repayment of FHLBNY borrowings, net (50,000) (40,000)
Repurchase of common stock   (1,572)
Repayment of finance lease liability (1) (20)
Net cash provided by financing activities 61,350 92,283
Net increase in cash and cash equivalents 23,262 43,105
Cash and cash equivalents at beginning of period 133,675 96,521
Cash and cash equivalents at end of period 156,937 139,626
Cash paid during the period for:    
Interest 7,968 $ 6,819
Non-cash investing and financing activity:    
Loans transferred to other real estate owned 80  
Right of use assets obtained in exchange for new operating lease liabilities $ 572