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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest income:      
Loans $ 590,492 $ 554,488 $ 406,601
Securities 33,563 32,179 29,224
Other short-term investments 26,094 22,693 3,400
Total interest income 650,149 609,360 439,225
Interest expense:      
Deposits and escrow 284,745 219,045 38,433
Borrowed funds 41,036 66,472 19,117
Derivative cash collateral 6,314 7,272 1,812
Total interest expense 332,095 292,789 59,362
Net interest income 318,054 316,571 379,863
Provision for credit losses 36,113 2,770 5,374
Net interest income after provision for credit losses 281,941 313,801 374,489
Non-interest income:      
Service charges and other fees 16,725 16,437 16,206
Title fees 843 1,295 2,031
Loan level derivative income 2,114 7,081 3,637
BOLI income 10,376 9,748 10,346
Gain on sale of SBA Loans 407 1,592 1,797
Gain on sale of residential loans 225 115 448
Fair value change in equity securities and loans held for sale (1,204) (758)  
Net loss on sale of securities (42,810) (1,447)  
Gain (loss) on sale of other assets 7,219 (22) 1,397
Other 2,150 2,165 2,294
Total non-interest (loss) income (3,955) 36,206 38,156
Non-interest expense:      
Salaries and employee benefits 136,114 117,437 120,108
Severance 1,296 9,093 2,198
Occupancy and equipment 29,794 29,055 30,220
Data processing costs 17,745 16,474 15,175
Marketing 6,660 6,781 5,900
Professional services 8,614 6,155 8,069
Federal deposit insurance premiums 8,710 8,853 3,900
Loss from extinguishment of debt for FHLBNY advances and subordinated debt 454   740
Loss due to pension settlement 1,215    
Amortization of other intangible assets 1,163 1,425 1,878
Other 14,782 17,855 12,542
Total non-interest expense 226,547 213,128 200,730
Income before income taxes 51,439 136,879 211,915
Income tax expense 22,355 40,785 59,359
Net income 29,084 96,094 152,556
Preferred stock dividends 7,286 7,286 7,286
Net income available to common stockholders $ 21,798 $ 88,808 $ 145,270
Earnings per common share:      
Basic (in dollars per share) $ 0.55 $ 2.29 $ 3.73
Diluted (in dollars per share) $ 0.55 $ 2.29 $ 3.73