v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 30,716 $ 7,363
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of right-of-use assets 684 503
Provision (credit) for credit losses (1,440) 3,301
(Gains) on disposal of fixed assets, net 0 (638)
Depreciation and amortization of fixed assets 1,440 1,402
Amortization of premiums on securities, net 434 1,276
(Gains) on sales of loans held for sale, net (109) (169)
Proceeds from sales of loans held for sale 5,912 9,281
Loans originated and held for sale (6,159) (12,187)
Losses on sales of other real estate owned, net 0 8
Change in fair value of equity investments, net (160) (197)
Losses on securities transactions, net 0 17,498
Write down of equity investments 289 0
Purchases of equity investments, net (219) (184)
Amortization of deferred costs on subordinated debt 77 30
Losses (gains) on interest rate swaps, net (70) 68
Income from bank-owned life insurance (21) (24)
Decrease (increase) in accrued interest receivable (723) 587
Decrease (increase) in other assets (14) 2,086
Increase (decrease) in accrued interest payable 880 (1,504)
Increase (decrease) in other liabilities (2,355) 174
Payments on operating leases (669) (505)
Expense related to restricted stock units for directors' deferred compensation plan 18 17
Expense related to employee restricted stock awards 1,174 980
Net cash provided by operating activities 29,685 29,166
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales, maturities, calls, and principal paydowns on securities available for sale 20,511 267,211
Proceeds from sales, maturities and principal collected on securities held to maturity 80 128
Purchases of securities available for sale (4,936) 0
Purchases of securities held to maturity (1,000) 0
Purchases of FHLBNY and FRBNY stock (18,981) (11,589)
Redemption of FHLBNY and FRBNY stock 18,893 15,182
Proceeds from sales of fixed assets 0 1,323
Purchases of premises and equipment (1,121) (1,088)
Proceeds from sale of other real estate owned 0 347
Proceeds from bank owned life insurance 280 0
(Increase) in loans, net (128,954) (131,981)
Net cash provided by (used in) investing activities (115,228) 139,533
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in demand, interest-bearing demand, savings, and insured money market deposits 138,324 100,710
(Decrease) in time deposits (23,749) (139,077)
(Decrease) in FHLBNY overnight advances, net (87,110) (109,110)
Increase in FHLBNY term advances, net 85,000 0
Payments on finance leases (271) (249)
Proceeds from subordinated debt 0 45,000
Payment of subordinated debt issuance costs 0 (1,028)
Purchase of treasury stock (242) (101)
Sale of treasury stock 346 462
Cash dividends paid (5,013) (4,695)
Net cash provided by (used in) financing activities 107,285 (108,088)
Increase in cash and cash equivalents, net 21,742 60,611
Cash and cash equivalents, beginning of period 50,097 47,035
Cash and cash equivalents, end of period 71,839 107,646
Cash paid for:    
Interest 29,787 36,807
Income taxes 9,440 3,823
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned 1,895 0
Right-of-use assets obtained through operating lease liabilities $ 1,578 $ 80