v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 8,774 $ 12,214
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,683 1,183
Provision for credit losses 2,130 2,350
Net accretion on securities (253) (2,502)
ESOP compensation 371 294
(Earnings) loss on bank-owned life insurance (18) (514)
Net gain on sale or write-down of other real estate owned 31  
Proceeds from sale of loans 2,444  
Net (gain) loss on sale of loans (187)  
Loss on sale or disposal of premises and equipment, net   7
Gain on termination of finance lease, net (2) (10)
Stock-based compensation expense 806 705
Deferred tax expense (benefit) 1,566 (1,042)
Increase in trading securities (22,036)  
Increase in accrued interest receivable (170) (767)
Decrease in other assets 3,155 317
Increase (decrease) in other liabilities 16,177 (10,689)
Changes in operating leases 19 (9)
Net cash provided by operating activities 14,490 1,537
Cash flows from investing activities:    
Proceeds from maturities, paydowns and calls of securities available for sale 45,821 131,532
Purchases of securities available for sale (27,985) (93,395)
Proceeds from maturities and paydowns of securities held to maturity 452 3,329
Purchases of securities held to maturity (3,731) (20,500)
Net purchases of FHLBNY and FRBNY stock 1,914 1,518
Net increase in loans receivable (107,108) (111,014)
Purchases of premises and equipment (1,053) (1,873)
Proceeds from the sale of premises and equipment, other real estate owned and repossessed assets 238  
Proceeds from bank-owned life insurance death benefit   1,142
Cash paid for acquisitions (141,343)  
Net cash used in investing activities (232,795) (89,261)
Cash flows from financing activities:    
Net increase in deposits 229,772 155,677
Net decrease in mortgagors' escrow deposits 3,006 2,672
Proceeds from exercise of stock options 47  
Repayment of FHLBNY borrowings, net (50,000) (40,000)
Repurchase of common stock (3,470) (4,881)
Purchase of employee restricted shares to fund statutory tax withholding (156) (145)
Repayment of finance lease liability (3) (52)
Net cash provided by financing activities 179,196 113,271
Net (decrease) increase in cash and cash equivalents (39,109) 25,547
Cash and cash equivalents at beginning of period 133,675 96,521
Cash and cash equivalents at end of period 94,566 122,068
Cash paid during the period for:    
Interest 16,357 14,044
Income taxes 2,000 3,500
Non-cash investing and financing activity:    
Loans transferred to other real estate owned 216 $ 595
Acquisition contingent consideration payable 2,245  
Right of use assets obtained in exchange for new operating lease liabilities $ 572