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CONSOLIDATED STATEMENTS OF CONDITION (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 29,185 $ 25,650
Federal funds sold 1,770 3,644
Interest-earning deposits with banks 108,671 67,227
Cash and cash equivalents 139,626 96,521
Securities available for sale, at fair value 311,030 321,537
Securities held to maturity, net of allowance for credit losses of $275 at March 31, 2025 and $216 at December 31, 2024 (fair value of $28,335 at March 31, 2025 and $22,457 at December 31, 2024) 31,437 25,400
Federal Reserve Bank of New York and Federal Home Loan Bank of New York stock 3,608 5,283
Loans receivable 1,509,986 1,456,329
Allowance for credit losses (22,810) (21,754)
Net loans receivable 1,487,176 1,434,575
Accrued interest receivable 8,379 7,937
Premises and equipment, net 35,810 35,480
Bank-owned life insurance 15,926 15,956
Goodwill 10,879 10,879
Other intangible assets, net 2,584 2,705
Other assets 22,530 23,457
Total assets 2,068,985 1,979,730
Deposits:    
Non-interest bearing deposits 509,334 454,296
Interest bearing deposits 1,212,313 1,131,887
Total deposits 1,721,647 1,586,183
Mortgagors' escrow deposits 6,508 8,097
Borrowings from Federal Home Loan Bank of New York   40,000
Other liabilities 30,129 40,897
Total liabilities 1,758,284 1,675,177
Commitments and contingent liabilities - See Note 8
Shareholders' Equity    
Preferred stock ($0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding as of March 31, 2025 and December 31, 2024)
Common stock ($0.01 par value, 75,000,000 shares authorized 25,853,091 and 25,978,904 shares issued and outstanding as of March 31, 2024 and December 31, 2024, respectively) 258 260
Additional paid in capital 114,441 114,113
Retained earnings 198,381 194,188
Unallocated common stock of Employee Stock Ownership Plan ("ESOP") (9,380) (9,551)
Accumulated other comprehensive income 7,001 5,543
Total shareholders' equity 310,701 304,553
Total liabilities and shareholders' equity $ 2,068,985 $ 1,979,730