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 $ 23,647 $ 15,976
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of premiums and discounts on investment securities 88 67
Provision for credit losses 199 52
Change in deferred income taxes 1,474 (48)
Change in fair value of marketable equity securities 35 (36)
Depreciation and amortization 2,175 1,977
Amortization of debt issuance costs 123 123
Increase in cash surrender value of bank-owned life insurance (724) (696)
Gains and fees from sales of loans (4,823) (1,522)
Stock-based compensation 2,029 924
Loss on sale of other real estate owned, net 0 103
Gain on sale of other real estate owned, net 0 (1,284)
Net change in:    
Deferred loan fees (750) 63
Accrued interest receivable (127) (206)
Other assets (7,877) (3,997)
Accrued expenses and other liabilities 2,480 (1,100)
Net cash provided by operating activities 17,949 10,396
Cash flows from investing activities    
Proceeds from principal repayments on available for sale securities 1,961 2,293
Proceeds from principal repayments on held to maturity securities 157 119
Proceeds from sales and calls of available for sale securities 13,000 13,000
Purchases of marketable equity securities (50) (34)
Purchases of available for sale securities (29,438) (10,006)
Net (increase) decrease in loans (166,889) 24,671
Proceeds from sales of loans 51,644 13,938
Purchases of premises and equipment, net (661) (475)
Reduction of Federal Home Loan Bank stock 3,064 603
Proceeds from the sale of other real estate owned 0 8,195
Net cash (used in) provided by investing activities (127,212) 52,304
Cash flows from financing activities    
Net change in time certificates of deposit (109,034) (94,637)
Net change in other deposits 280,083 66,348
Payments on FHLB advances (200,000) (50,000)
Proceeds on FHLB advances 120,000 35,000
Dividends paid on common stock (3,161) (3,137)
Repurchase of common stock (150) (1,334)
Net cash provided by (used in) financing activities 87,738 (47,760)
Net (decrease) increase in cash and cash equivalents (21,525) 14,940
Cash and cash equivalents:    
Beginning of year 224,921 307,524
End of period 203,396 322,464
Cash paid for:    
Interest 46,382 51,126
Income taxes:    
Federal 5,990 2,000
Noncash investing and financing activities:    
Net change in unrealized gains or losses on available for sale securities (754) 1,857
Net change in unrealized gains or losses on interest rate swaps 291 (1,411)
Transfer of loans from held-for-investment to held-for-sale 46,820 12,416
New York City    
Income taxes:    
State 211 98
New York State    
Income taxes:    
State 553 397
Pennsylvania    
Income taxes:    
State 150 0
Florida    
Income taxes:    
State 260 150
New Jersey    
Income taxes:    
State 210 200
Other    
Income taxes:    
State $ 218 $ 235