v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:      
Net (Loss) Income $ (9,872,000) $ (4,760,000) $ 8,683,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation of premises and equipment 822,000 763,000 895,000
Amortization and accretion, net (497,000) (306,000) (856,000)
Provision for credit losses 21,775,000 25,736,000 4,526,000
Deferred income tax (benefit) expense (2,521,000) (4,942,000) 1,086,000
Loans originated for sale (470,000) (848,000) (2,815,000)
Proceeds from sales of loans 478,000   2,799,000
Loss (gain) on sales of loans 2,600,000   4,806,000
Gain on sale of fixed assets     (4,000)
Realized and unrealized losses on equity investments 341,000 223,000 92,000
Stock-based compensation expense 474,000 551,000 397,000
Increase in cash surrender value of BOLI (1,863,000) (1,394,000) (1,346,000)
Impairment of goodwill 5,253,000    
Net change in accrued interest receivable (827,000) (671,000) (504,000)
Net change in other assets 419,000 1,873,000 881,000
Net change in accrued interest payable (639,000) (947,000) (803,000)
Net change in other liabilities (724,000) 64,000 (1,422,000)
Net Cash Provided by Operating Activities 14,749,000 15,342,000 16,415,000
Cash flows from investing activities:      
Proceeds from repayments, calls, and maturities on securities available for sale 12,314,000 9,853,000 1,396,000
Purchases of securities (34,586,000) (37,402,000)  
Proceeds from sale of fixed asset     4,000
Proceeds from sales of equity investments 4,980,000    
Proceeds from the sale of portfolio loans     2,014,000
Net decrease in loans receivable 68,541,000 111,159,000 73,726,000
Additions to premises and equipment (503,000) (447,000) (184,000)
Redemption (purchase) of Federal Home Loan Bank of New York stock 5,128,000 5,510,000 (84,000)
Net Cash Provided by Investing Activities 55,874,000 88,673,000 76,872,000
Cash flows from financing activities:      
Net (decrease) increase in deposits (37,550,000) (89,324,000) (43,841,000)
Repayment from Federal Home Loan Bank of New York Long Term Advances (110,000,000) (150,000,000)  
Net change in Federal Home Loan Bank of New York Short Term Advances   30,000,000  
Cash dividends paid on common stock (2,738,000) (5,347,000) (5,202,000)
Cash dividends paid on preferred stock (482,000) (964,000) (882,000)
Net proceeds from issuance of common stock 450,000 670,000 625,000
Net proceeds from issuance of preferred stock   520,000 3,360,000
Net Cash Used in Financing Activities (150,320,000) (214,445,000) (45,940,000)
Net (Decrease) Increase in Cash and Cash Equivalents (79,697,000) (110,430,000) 47,347,000
Cash and Cash Equivalents-Beginning 276,584,000 317,282,000 279,523,000
Cash and Cash Equivalents-Ending 196,887,000 206,852,000 326,870,000
Supplementary Cash Flow Information:      
Cash paid for income taxes 664,000 1,056,000 2,429,000
Cash paid for interest 35,319,000 $ 43,214,000 52,751,000
Transfer of loans receivable to loans held for sale $ 13,385,000   $ 38,402,000