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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:        
Loans $ 46,402 $ 46,016 $ 138,346 $ 138,030
Mortgage-backed securities 14,757 8,493 40,654 20,246
Other securities 377 2,684 1,616 10,031
FHLB of New York dividends 706 914 2,296 2,819
Deposits in other financial institutions 704 1,211 2,551 7,060
Total interest income 62,946 59,318 185,463 178,186
Interest expense:        
Deposits 19,021 20,304 60,497 60,241
Borrowings 8,576 9,949 21,783 30,653
Subordinated debt 837 836 2,484 2,492
Total interest expense 28,434 31,089 84,764 93,386
Net interest income 34,512 28,229 100,699 84,800
Provision for credit losses 1,069 2,542 5,737 2,339
Net interest income after provision for credit losses 33,443 25,687 94,962 82,461
Non-interest income:        
Fees and service charges for customer services 1,792 1,611 5,097 4,796
Income on bank-owned life insurance 1,863 999 5,238 2,939
Losses on available-for-sale debt securities, net 0 (7) 0 (6)
Gains on trading securities, net 804 710 1,513 1,597
Gain on sale of loans 0 0 0 51
Other 267 265 426 441
Total non-interest income 4,726 3,578 12,274 9,818
Non-interest expense:        
Compensation and employee benefits 13,522 11,424 39,025 37,577
Occupancy 3,081 3,030 9,942 9,805
Furniture and equipment 403 450 1,228 1,411
Data processing 2,439 1,780 6,963 6,104
Professional fees 860 943 2,835 2,433
Advertising 310 282 854 1,282
Federal Deposit Insurance Corporation insurance 548 626 1,783 1,863
Credit loss expense for off-balance sheet exposures 116 151 166 337
Other 2,103 1,692 4,991 4,891
Total non-interest expense 23,382 20,378 67,787 65,703
Income before income tax expense 14,787 8,887 39,449 26,576
Income tax expense 4,036 2,364 11,251 7,882
Net income $ 10,751 $ 6,523 $ 28,198 $ 18,694
Net income per common share:        
Basic (usd per share) $ 0.27 $ 0.16 $ 0.70 $ 0.45
Diluted (usd per share) $ 0.27 $ 0.16 $ 0.70 $ 0.45
Net income $ 10,751 $ 6,523 $ 28,198 $ 18,694
Unrealized gains on debt securities available-for-sale:        
Net unrealized holding gains 3,965 15,352 20,971 19,527
Add: Reclassification adjustment for net losses included in net income 0 7 0 6
Net unrealized gains 3,965 15,359 20,971 19,533
Post-retirement benefits adjustment 0 0 0 58
Other comprehensive income before tax 3,965 15,359 20,971 19,591
Income tax expense related to net unrealized holding gains on debt securities available-for-sale (1,185) (4,272) (6,286) (5,447)
Income tax benefit related to reclassification adjustment for losses included in net income 0 (2) 0 (2)
Income tax benefit related to post retirement benefit adjustment 0 0 0 (16)
Other comprehensive income, net of tax 2,780 11,085 14,685 14,126
Comprehensive income $ 13,531 $ 17,608 $ 42,883 $ 32,820