XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Cash and due from banks:    
Cash [1] $ 26,046 $ 31,977
Interest-bearing deposits [1] 90,966 22,383
Total cash and cash equivalents 117,012 54,360
Available-for-sale securities, at fair value (Note 3) 116,753 129,505
Held-to-maturity securities, net of allowance for credit losses of $647 at September 30, 2023 and $0 at December 31, 2022; at amortized cost (fair value 2023 $444,864; 2022 $495,851) (Note 3) 471,065 510,820
Placements with banks 996 1,494
Mortgage loans held for sale, at fair value (Note 4) 14,103 1,979
Loans receivable, net of allowance for credit losses of $27,414 at September 30, 2023 and $34,592 at December 31, 2022 (Note 5) 1,787,607 1,493,127
Accrued interest receivable 16,624 15,049
Premises and equipment, net (Note 6) 16,453 17,446
Right of use assets (Note 7) 32,110 33,423
Federal Home Loan Bank of New York (FHLBNY) stock, at cost 18,870 24,661
Deferred tax assets (Note 10) 15,984 16,137
Other assets 16,286 13,988
Total assets 2,623,863 2,311,989
Liabilities:    
Deposits (Note 8) 1,401,132 1,252,412
Operating lease liabilities 33,459 34,532
Accrued interest payable 8,385 1,390
Advance payments by borrowers for taxes and insurance 13,743 9,724
Borrowings (Note 9) 675,100 517,375
Other liabilities 6,986 3,856
Total liabilities 2,138,805 1,819,289
Commitments and contingencies (Note 13)
Stockholders' Equity:    
Preferred stock, $0.01 par value; 100,000,000 shares authorized, 225,000 shares issued and outstanding as of September 30, 2023 and as of December 31, 2022. 225,000 225,000
Common stock, $0.01 par value; 200,000,000 shares authorized; 24,886,711 shares issued and 23,653,600 shares outstanding as of September 30, 2023 and 24,861,329 shares issued and 24,859,353 shares outstanding as of December 31, 2022 249 249
Treasury stock, at cost; 1,233,111 shares as of September 30, 2023 and 1,976 shares as of December 31, 2022 (Note 11) (10,975) (2)
Additional paid-in-capital 207,626 206,508
Retained earnings 96,902 92,955
Accumulated other comprehensive loss (Note 16) (20,468) (17,860)
Unearned compensation -ESOP; 1,469,167 shares as of September 30, 2023 and 1,569,475 shares as of December 31, 2022 (Note 11) (13,276) (14,150)
Total stockholders' equity 485,058 492,700
Total liabilities and stockholders' equity $ 2,623,863 $ 2,311,989
[1] As of December 31, 2022, $2.1 million of Federal Reserve Bank ("FRB") cash were reclassified from Cash to Interest-bearing deposits.