v3.26.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest and dividend income:        
Interest on loans receivable $ 46,835 $ 40,291 $ 90,817 $ 77,427
Interest on deposits due from banks 954 807 1,724 2,475
Interest and dividend on securities and FHLBNY stock 3,863 4,762 7,773 9,955
Total interest and dividend income 51,652 45,860 100,314 89,857
Interest expense:        
Interest on certificates of deposit 6,785 7,382 13,200 15,136
Interest on other deposits 9,544 9,058 18,174 17,612
Interest on borrowings 5,262 4,994 10,653 10,480
Total interest expense 21,591 21,434 42,027 43,228
Net interest income 30,061 24,426 58,287 46,629
Provision for credit losses (Note 3) (Note 5) 2,148 1,626 3,804 1,341
Net interest income after provision for credit losses 27,913 22,800 54,483 45,288
Non-interest income:        
Service charges and fees 600 511 1,139 1,036
Brokerage commissions       4
Late and prepayment charges 138 530 864 1,227
Income on sale of mortgage loans 161 169 281 317
Income on sale of SBA loans       404
Grant income   428   428
Other 628 422 1,285 1,025
Total non-interest income 1,527 2,060 3,569 4,441
Non-interest expense:        
Compensation and benefits 9,070 7,627 17,733 15,407
Occupancy and equipment 3,901 3,907 7,573 7,820
Data processing expenses 1,195 1,188 2,414 2,340
Direct loan expenses 187 241 308 629
Insurance and surety bond premiums 332 297 665 612
Office supplies, telephone and postage 152 174 345 344
Professional fees 1,470 1,367 2,816 2,731
Marketing and promotional expenses 190 266 418 349
Federal deposit insurance and regulatory assessment 408 546 817 1,007
Other operating expenses 1,230 1,256 2,286 2,518
Total non-interest expense 18,135 16,869 35,375 33,757
Income before income taxes 11,305 7,991 22,677 15,972
Provision for income taxes 2,810 1,891 5,559 3,913
Net income 8,495 6,100 17,118 12,059
Dividends on preferred shares 282 282 563 563
Net income available to common stockholders $ 8,213 $ 5,818 $ 16,555 $ 11,496
Earnings per common share (Note 9):        
Basic $ 0.36 $ 0.26 $ 0.72 $ 0.51
Diluted $ 0.35 $ 0.25 $ 0.71 $ 0.5
Weighted average common shares outstanding (Note 9):        
Basic 23,053,460 22,716,615 23,021,069 22,689,914
Diluted 23,508,153 22,947,769 23,419,915 22,920,841