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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income:      
Interest on loans receivable $ 65,532 $ 52,389 $ 49,306
Interest on deposits due from banks 20 84 617
Interest and dividend on available-for-sale securities and FHLBNY stock 1,546 866 568
Total interest and dividend income 67,098 53,339 50,491
Interest expense:      
Interest on certificates of deposit 4,244 6,576 7,677
Interest on other deposits 1,427 2,174 2,827
Interest on borrowings 2,581 2,619 1,854
Total interest expense 8,252 11,369 12,358
Net interest income 58,846 41,970 38,133
Provision for loan losses (Note 5) 2,717 2,443 258
Net interest income after provision for loan losses 56,129 39,527 37,875
Non-interest income:      
Service charges and fees 1,657 892 971
Brokerage commissions 1,324 974 212
Late and prepayment charges 1,207 358 755
Income on sale of mortgage loans 5,265 4,120  
Loan origination 3,021 925  
Gain on sale of real properties 20,270 4,177  
Other 1,893 1,801 745
Total non-interest income 34,637 13,247 2,683
Non-interest expense:      
Compensation and benefits 23,262 22,053 18,883
Loss on termination of pension plan     9,930
Occupancy and equipment 11,328 9,564 7,612
Data processing expenses 3,015 2,137 1,576
Direct loan expenses 3,888 1,447 692
Insurance and surety bond premiums 585 553 414
Office supplies, telephone and postage 2,054 1,399 1,185
Professional fees 7,629 6,049 3,237
Marketing and promotional expenses 206 488 158
Directors fees 285 276 294
Regulatory dues 323 210 231
Other operating expenses 4,567 3,363 2,395
Total non-interest expense 57,142 47,539 46,607
Income (loss) before income taxes 33,624 5,235 (6,049)
Provision (benefit) for income taxes (Note 9) 8,209 1,382 (924)
Net income (loss) $ 25,415 $ 3,853 $ (5,125)
Earnings (loss) per share: (Note 11)      
Basic $ 1.52 $ 0.23 $ (0.29)
Diluted $ 1.51 $ 0.23 $ (0.29)
Weighted average shares outstanding: (Note 11)      
Basic 16,744,561 16,673,193 17,432,318
Diluted 16,791,443 16,682,584 17,432,318