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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
May 06, 2029
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Interest and dividend income:        
Interest on loans receivable $ 24,944 $ 15,603 $ 12,162 $ 30,528
Interest on deposits due from banks 69 2 3 4
Interest and dividend on available-for-sale securities and FHLBNY stock 410 239 228 489
Total interest and dividend income 25,423 15,844 12,393 31,021
Interest expense:        
Interest on certificates of deposit 3,557 1,108 1,730 2,327
Interest on other deposits 1,226 382 534 764
Interest on borrowings 1,195 622 608 1,306
Total interest expense 5,978 2,112 2,872 4,397
Net interest income 19,445 13,732 9,521 26,624
Provision for loan losses (Note 5) 1,417 586 271 1,272
Net interest income after provision for loan losses 18,028 13,146 9,250 25,352
Non-interest income:        
Service charges and fees 393 366 145 695
Brokerage commissions 72 430 22 653
Late and prepayment charges 132 298 13 542
Income on sale of mortgage loans   1,288   2,796
Loan origination   971   1,510
Gain on sale of real property   4,176   4,839
Other 599 812 394 1,199
Total non-interest income 1,196 8,341 574 12,234
Non-interest expense:        
Compensation and benefits 9,653 4,212 4,645 9,876
Occupancy and equipment 4,294 2,838 2,277 5,472
Data processing expenses 963 733 496 1,327
Direct loan expenses 411 1,151 199 2,160
Insurance and surety bond premiums 249 143 128 289
Office supplies, telephone and postage 628 467 312 876
Professional fees 2,963 2,902 1,336 4,164
Marketing and promotional expenses 379 48 145 86
Directors fees 138 69 69 138
Regulatory dues 102 120 56 180
Other operating expenses 1,477 958 772 1,988
Total non-interest expense 21,257 13,641 10,435 26,556
Income (loss) before income taxes (2,033) 7,846 (611) 11,030
Provision (benefit) for income taxes (Note 9) (249) 1,914 (40) 2,646
Net income (loss) $ (1,784) $ 5,932 $ (571) $ 8,384
Earnings (loss) per share (Note 11):        
Basic $ (0.11) $ 0.35 $ (0.03) $ 0.50
Diluted $ (0.11) $ 0.35 $ (0.03) $ 0.50
Weighted average shares outstanding (Note 11):        
Basic 16,761,993 16,737,037 16,723,449 16,643,138
Diluted 16,761,993 16,773,606 16,723,449 16,661,423