v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income $ 24,085 $ 16,061
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 229 272
Provision for credit losses 878 1,574
Increase in value of bank owned life insurance (470) (334)
Net accretion of purchase premiums and discounts on securities (25) (23)
Stock based compensation 173 133
Net changes in:    
Increase in accrued interest receivable and other assets (2,725) (2,051)
Decrease in accrued interest payable and other accrued liabilities (3,069) (1,874)
Net cash provided by operating activities 19,076 13,758
Cash Flows from Investing Activities:    
Repayments and maturities of investment securities available for sale 684 741
Repayments and maturities of investment securities held to maturity 68 157
Purchase of investment securities (1,503) 0
Net increase in loans (1,004) (66,630)
Purchases of bank premises and equipment (257) (442)
Redemptions of restricted stock 2,250 4,963
Purchases of restricted stock (3,948) (3,035)
Net cash used in investing activities (3,710) (64,246)
Cash Flows from Financing Activities:    
Cash dividends (4,217) (4,267)
Proceeds from exercise of stock options 1,777 99
Excise tax payment on purchase of treasury stock 0 (29)
Net increase (decrease) in FHLBNY term borrowings 34,000 (45,000)
Net (decrease) increase in noninterest-bearing deposits (3,320) 4,701
Net increase in interest-bearing deposits 4,254 57,711
Net cash used in financing activities 32,494 13,215
Net increase (decrease) in cash and cash equivalents 47,860 (37,273)
Cash and Cash Equivalents, January 1, 156,863 221,527
Cash and Cash Equivalents, June 30, 204,723 184,254
Supplemental Disclosure of Cash Flow Information:    
Interest paid 30,558 35,575
Income taxes paid 11,865 6,082
Non-cash Investing and Financing Items    
Loans transferred to OREO 3,900 0
Accrued dividends payable $ 2,357 $ 2,137