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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and Dividend Income, Operating [Abstract]        
Loans $ 147,099 $ 138,310 $ 290,664 $ 266,749
Securities 7,907 7,914 15,787 16,345
Other short-term investments 4,412 5,867 13,976 9,669
Total interest income 159,418 152,091 320,427 292,763
Interest Expense, Operating and Nonoperating [Abstract]        
Deposits and escrow 72,878 52,616 145,947 89,888
Borrowed funds 9,033 17,759 23,730 33,930
Derivative cash collateral 2,005 1,497 3,718 2,974
Total interest expense 83,916 71,872 173,395 126,792
Net interest income 75,502 80,219 147,032 165,971
Provision (recovery) for credit losses 5,585 892 10,795 (2,756)
Net interest income after provision (recovery) for credit losses 69,917 79,327 136,237 168,727
Noninterest Income [Abstract]        
Service charges and other fees 3,972 4,856 8,516 8,670
Title fees 294 246 427 538
Loan level derivative income 1,085 2,437 1,491 5,570
BOLI income 2,484 2,852 4,945 5,015
Gain on sale of SBA loans 113 210 366 726
Gain on sale of residential loans 27 34 104 82
Fair value change in equity securities and loans held for sale (416) (780) (1,258) (780)
Net loss on sale of securities       (1,447)
Gain on sale of other assets 3,695   6,663  
Other 554 550 1,021 1,032
Total non-interest income 11,808 10,405 22,275 19,406
Noninterest Expense [Abstract]        
Salaries and employee benefits 32,184 29,900 64,221 56,534
Severance   481 42 506
Occupancy and equipment 7,409 7,144 14,777 14,517
Data processing costs 4,405 4,197 8,718 8,435
Marketing 1,637 1,488 3,134 2,937
Professional services 2,766 1,676 4,233 3,599
Federal deposit insurance premiums 2,250 1,874 4,489 3,747
Loss from extinguishment of debt for FHLBNY advances     453  
Amortization of other intangible assets 285 349 592 726
Other 4,758 5,077 7,546 8,660
Total non-interest expense 55,694 52,186 108,205 99,661
Income before income taxes 26,031 37,546 50,307 88,472
Income tax expense 7,552 10,048 14,137 23,671
Net income 18,479 27,498 36,170 64,801
Preferred stock dividends 1,822 1,822 3,643 3,643
Net income available to common stockholders $ 16,657 $ 25,676 $ 32,527 $ 61,158
Earnings per common share:        
Basic (in dollars per share) $ 0.43 $ 0.66 $ 0.84 $ 1.58
Diluted (in dollars per share) $ 0.43 $ 0.66 $ 0.84 $ 1.58