v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 104,447,000 $ 106,434,000 $ 87,978,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,222,000 4,703,000 5,509,000
Amortization of intangible assets 574,000.0 730,200 887,700
Deferred income tax expense 1,677,000 5,175,000 4,244,000
Provision for credit losses 16,323,000 10,284,000 14,670,000
Stock-based compensation expense 6,918,000 5,534,000 4,687,000
Net (income) loss from equity method investments 1,733,000 831,000 (4,932,000)
Net loss on sale of securities available for sale and other assets 3,431,000 9,698,000 7,392,000
Net (gain) loss on sale of loans and change in fair value on loans held-for-sale 2,720,000 8,197,000 (32,000)
Net gain on death benefits of bank-owned life insurance (562,000) 0 (613,000)
Net gain on repurchase of subordinated debt 0 (1,076,000) (1,417,000)
Proceeds from sales of loans held for sale 29,027,000 22,131,000 17,799,000
Originations of loans held for sale (30,132,000) (21,702,000) (14,558,000)
Increase in cash surrender value of bank-owned life insurance (2,562,000) (2,498,000) (2,269,000)
Increase in accrued interest receivable (3,956,000) (5,688,000) (14,043,000)
Decrease (increase) in other assets (856,000) (2,440,000) 11,740,000
Increase (decrease) in other liabilities 778,000 (16,248,000) 181,000
Net cash provided by operating activities 135,782,000 124,065,000 117,224,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Net increase in loans (342,040,000) (360,157,000) (317,211,000)
Proceeds from sales of loans 73,232,000 36,590,000 0
Purchase of securities available for sale (964,986,000) (824,549,000) (116,453,000)
Purchase of securities held-to-maturity (157,951,000) (92,169,000) (264,498,000)
Proceeds from sales of securities available for sale 364,841,000 394,118,000 285,408,000
Maturities, principal payments and redemptions of securities available for sale 477,862,000 310,786,000 167,783,000
Maturities, principal payments and redemptions of securities held-to-maturity 190,856,000 204,346,000 108,877,000
Decrease (increase) in resell agreements (24,921,000) 26,259,000 (24,246,000)
Decrease (increase) in equity method investments (6,472,000) 1,908,000 (757,000)
Decrease (increase) in FHLBNY stock, net 10,684,000 (11,304,000) 25,218,000
Purchases of premises and equipment, net (1,379,000) (1,775,000) (1,477,000)
Proceeds from redemption of bank-owned life insurance 2,209,000 0 2,949,000
Proceeds from sale of owned assets 46,000 0 0
Net cash used in investing activities (378,019,000) (315,947,000) (134,407,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase in deposits 768,636,000 168,617,000 416,951,000
Increase (decrease) in other borrowings, net (244,946,000) 16,325,000 (345,619,000)
Repurchase of subordinated debt 0 (5,925,000) (6,047,000)
Common stock issued under Equity Program 1,387,000 789,000 804,000
Redemption of AREMCO class B shares 0 (152,000) 0
Repurchase of common stock (32,346,000) (1,130,000) (8,315,000)
Dividends paid on common stock (17,203,000) (14,234,000) (12,333,000)
Payments related to repurchase of common stock for equity awards (2,823,000) (2,229,000) (1,228,000)
Net cash provided by financing activities 472,705,000 162,061,000 44,213,000
Increase (decrease) in cash, cash equivalents, and restricted cash 230,468,000 (29,821,000) 27,030,000
Cash, cash equivalents, and restricted cash at beginning of year 60,749,000 90,570,000 63,540,000
Cash, cash equivalents, and restricted cash at end of year 291,217,000 60,749,000 90,570,000
Supplemental disclosures of cash flow information:      
Interest paid during the year 124,394,000 128,780,000 85,714,000
Supplemental non-cash activities:      
Right-of-use assets obtained in exchange for lease liabilities 2,873,000 560,000 0
Loans transferred from held-for-sale 2,472,000 0 4,664,000
Loans transferred to held-for-sale 42,540,000 81,589,000 3,581,000
Cumulative change due to adoption of ASU No. 2016-13 $ 0 $ 0 $ 17,825,000