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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 17,757 $ 21,198
Adjustments to reconcile net income to net cash provided by operating activities:    
(Increases in) amortization of right-of-use assets 11 599
Provision (credit) for credit losses (597) 962
(Gains) loss on disposal of fixed assets (40) 3
Depreciation and amortization of fixed assets 1,359 1,533
Amortization of premiums on securities, net 1,789 1,880
Gain on sales of loans held for sale, net (162) (90)
Proceeds from sales of loans held for sale 3,957 3,064
Loans originated and held for sale (3,795) (2,974)
Net losses (gains) on sale of other real estate owned 22 (14)
Fair value adjustment on other real estate owned 13 (3)
Net change in fair value of equity investments (233) 99
Proceeds from sales of equity investments 134 39
Purchase of equity investments (99) (119)
Increase in other assets and accrued interest receivable (952) (1,350)
Increase in accrued interest payable 3,429 3,225
Expense related to restricted stock units for directors' deferred compensation plan 15 15
Expense related to employee restricted stock awards 922 837
Increases in (payments on) operating lease liabilities (7) (592)
Net (gain) loss on interest rate swaps (13) (55)
Increase (decrease) in other liabilities 99 (964)
Income from bank owned life insurance (29) (32)
Net cash provided by operating activities 23,580 27,261
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, calls, and principal paydowns on securities available for sale 42,348 46,687
Proceeds from maturities and principal collected on securities held to maturity 128 619
Purchases of securities available for sale 0 (3,207)
Purchase of FHLBNY and FRBNY stock (16,848) (42,878)
Redemption of FHLBNY and FRBNY stock 18,157 47,022
Proceeds from sales of fixed assets 44 0
Purchases of premises and equipment (1,707) (459)
Proceeds from sale of other real estate owned 359 154
Net increase in loans (57,321) (101,780)
Net cash used in investing activities (14,840) (53,842)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in demand, interest-bearing demand, savings, and insured money market deposits 22,128 (42,532)
Net (decrease) increase in time deposits (434) 188,804
Net change in FHLBNY and FRBNY advances 18,080 (95,810)
Increases in (payments on) finance leases 707 (207)
Purchase of treasury stock (92) (98)
Sale of treasury stock 354 512
Cash dividends paid (5,890) (4,377)
Net cash provided by financing activities 34,853 46,292
Net increase in cash and cash equivalents 43,593 19,711
Cash and cash equivalents, beginning of period 36,847 55,869
Cash and cash equivalents, end of period 80,440 75,580
Cash paid for:    
Interest 37,300 23,257
Income taxes 4,659 6,038
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned 552 171
Dividends declared, not yet paid 0 1,463
Right-of-use assets obtained through finance lease liabilities $ 935 $ 0