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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income:        
Loans $ 145,448 $ 147,099 $ 288,153 $ 290,664
Securities 11,353 7,907 22,676 15,787
Other short-term investments 10,749 4,412 18,586 13,976
Total interest income 167,550 159,418 329,415 320,427
Interest expense:        
Deposits and escrow 60,181 72,878 118,255 145,947
Borrowed funds 8,354 9,033 16,735 23,730
Derivative cash collateral 918 2,005 2,115 3,718
Total interest expense 69,453 83,916 137,105 173,395
Net interest income 98,097 75,502 192,310 147,032
Provision for credit losses 9,221 5,585 18,847 10,795
Net interest income after provision for credit losses 88,876 69,917 173,463 136,237
Non-interest income:        
Service charges and other fees 4,642 3,972 9,285 8,516
Title fees 118 294 216 427
Loan level derivative income 942 1,085 1,003 1,491
BOLI income 4,186 2,484 8,179 4,945
Gain on sale of SBA Loans 387 113 469 366
Gain on sale of residential loans 50 27 82 104
Fair value change in equity securities and loans held for sale 83 (416) 101 (1,258)
Net gain on securities 149   149  
Gain on sale of other assets   3,695   6,663
Other 1,038 554 1,744 1,021
Total non-interest income 11,595 11,808 21,228 22,275
Non-interest expense:        
Salaries and employee benefits 36,218 32,184 71,869 64,221
Severance 136   212 42
Occupancy and equipment 7,729 7,409 15,731 14,777
Data processing costs 4,903 4,405 9,697 8,718
Marketing 1,756 1,637 3,422 3,134
Professional services 2,097 2,766 4,213 4,233
Federal deposit insurance premiums 1,692 2,250 3,739 4,489
Loss from extinguishment of debt for FHLBNY advances       453
Loss due to pension settlement     7,231  
Amortization of other intangible assets 235 285 487 592
Other 5,533 4,758 9,209 7,546
Total non-interest expense 60,299 55,694 125,810 108,205
Income before income taxes 40,172 26,031 68,881 50,307
Income tax expense 10,475 7,552 17,726 14,137
Net income 29,697 18,479 51,155 36,170
Preferred stock dividends 1,821 1,822 3,643 3,643
Net income available to common stockholders $ 27,876 $ 16,657 $ 47,512 $ 32,527
Earnings per common share:        
Basic (in dollars per share) $ 0.64 $ 0.43 $ 1.09 $ 0.84
Diluted (in dollars per share) $ 0.64 $ 0.43 $ 1.09 $ 0.84