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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities:    
Net income $ 5,606 $ 244
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Amortization of premiums/discounts on securities, net (73) (57)
(Gain) loss on sale of loans (576) 13
(Benefit) provision for credit losses (555) 813
Depreciation and amortization 2,260 2,278
ESOP compensation expense 626 554
Share-based compensation expense 1,036 808
Deferred income taxes 1,406 196
Changes in assets and liabilities:    
Increase in mortgage loans held for sale, fair value (4,651) (8,091)
(Decrease) increase in accrued interest receivable 569 (1,005)
Decrease (increase) in other assets 3,216 (1,919)
(Decrease) increase in accrued interest payable (5,145) 3,314
Decrease in operating lease liabilities (1,249) (1,190)
Increase in advance payments by borrowers 60 2,678
(Decrease) increase in other liabilities (3,622) 1,649
Net cash (used in) provided by operating activities (1,092) 285
Cash Flows From Investing Activities:    
Net purchase and redemption of FHLBNY stock (4,580) 5,455
Proceeds from maturities, calls and principal repayments on securities 25,511 33,848
Placements with banks   498
Proceeds from sales of loans   1,862
Net increase in loans (142,513) (201,319)
Purchase of loans (5,956)  
Purchases of premises and equipment (1,846) (326)
Net cash used in investing activities (129,384) (159,982)
Cash Flows From Financing Activities:    
Net increase in deposits 98,477 189,601
Repurchase of treasury stock   (5,200)
Net (repayments) proceeds from borrowings (4,000) 164,725
Dividends paid on preferred stock (25)  
Net cash provided by financing activities 94,452 349,126
Net (decrease) increase in cash and cash equivalents (36,024) 189,429
Cash and Cash Equivalents:    
Cash and cash equivalents at beginning of period 139,190 54,360
Cash and cash equivalents at end of period 103,166 243,789
Supplemental disclosures of cash flow information:    
Cash paid for interest on deposits and borrowings 46,876 22,570
Cash paid for income taxes 305 414
Supplemental Disclosures of Noncash Investing Activities:    
Transferred from loans receivable to mortgage loans held for sale, at fair value $ 22,557 $ 4,100