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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income (loss) $ 25,415 $ 3,853 $ (5,125)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Amortization of premiums/discounts on securities, net 120 7 42
(Gain) loss on sale of loans (69) 62 102
Gain on sale of real property (20,270) (4,177)  
Gain on derivatives (172) (166)  
Loss on termination of pension plan     9,930
Provision for loan losses (Note 5) 2,717 2,443 258
Depreciation and amortization 2,473 2,519 2,222
ESOP compensation expense 1,395 540 766
Share-based compensation expense 1,405 1,403 1,256
Deferred income taxes 1,260 (932) (2,099)
Changes in assets and liabilities:      
Decrease (increase) in mortgage loans held for sale, at fair value 18,759 (23,827) (1,030)
Increase in accrued interest receivable (966) (7,414) (187)
(Increase) decrease in other assets (10,579) (10,045) 1,450
Increase (decrease) in accrued interest payable 168 (37) 34
Increase in advance payments by borrowers 638 671 311
(Decrease) increase in mortgage loan funding payable (1,483) 246  
Net (decrease) increase in other liabilities (2,258) 7,354 (2,884)
Net cash provided by (used in) operating activities 18,553 (27,500) 5,046
Cash Flows From Investing Activities:      
Business acquisition, net of cash acquired   (1,005)  
Proceeds from redemption of FHLBNY Stock 1,111 4,759 11,565
Purchases of FHLBNY Stock (686) (5,450) (14,385)
Purchases of available-for-sale securities (109,878) (13,625) (34,000)
Proceeds from sale of available-for-sale securities 3,641    
Proceeds from maturities, calls and principal repayments on securities 9,251 17,769 39,555
Purchases of held-to-maturity securities (1,700) (1,743)  
Placements with banks 249 (2,739)  
Proceeds from sales of loans 14,382 3,977 3,614
Net increase in loans (162,657) (209,385) (41,202)
Proceeds from sale of real properties 37,619 4,743  
Purchases of premises and equipment (4,171) (1,902) (3,816)
Net cash used in investing activities (211,139) (204,601) (38,669)
Cash Flows From Financing Activities:      
Net increase (decrease) in deposits 175,137 247,536 (27,715)
Funds received prior to closing in connection with second-step conversion 122,000    
Repurchase of treasury stock (1,607) (4,711) (15,763)
Proceeds from the sale of treasury stock 4,743    
Proceeds from advances from FHLBNY 11,500 192,730 699,498
Repayments of advances to FHLBNY (22,500) (179,879) (664,498)
Net advances on warehouse lines of credit (14,871) 20,826  
Net cash provided by (used in) financing activities 274,402 276,502 (8,478)
Net increase (decrease) in cash and cash equivalents 81,816 44,401 (42,101)
Cash and Cash Equivalents, including restricted cash:      
Beginning 72,078 27,677 69,778
Ending 153,894 72,078 27,677
Cash paid during the year:      
Interest 8,084 11,360 12,324
Income taxes $ 5,970 531 $ 1,178
Non-cash assets acquired:      
Mortgage loans held for sale, at fair value   10,549  
Premises and equipment   302  
Other assets   772  
Total non-cash assets acquired   11,623  
Liabilities assumed:      
Warehouse lines of credit   9,135  
Mortgage loan fundings payable   1,237  
Other liabilities   246  
Total liabilities assumed   10,618  
Net non-cash assets acquired   (9,846)  
Cash and cash equivalents acquired   750  
Consideration paid   $ (9,096)