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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from financial institutions $ 26,224 $ 22,247
Interest-earning deposits in other financial institutions 20,811 14,600
Total cash and cash equivalents 47,035 36,847
Equity investments, at fair value 3,235 3,046
Securities available for sale, at estimated fair value (amortized cost of $617,271, net of allowance for credit losses on securities of $0 as of December 31, 2024; and amortized cost of $669,092, net of allowance for credit losses on securities of $0 as of December 31, 2023) 531,442 583,993
Securities held to maturity, (estimated fair value of $808 as of December 31, 2024 and $785 as of December 31, 2023 net allowance for credit losses of $0 as of December 31, 2024 and December 31, 2023, respectively) 808 785
FHLBNY and FRBNY Stock, at cost 9,117 5,498
Loans, net of deferred loan fees 2,071,419 1,972,664
Allowance for credit losses (21,388) (22,517)
Loans, net 2,050,031 1,950,147
Loans held for sale 0 0
Premises and equipment, net 16,375 14,571
Operating lease right-of-use assets 5,446 5,648
Goodwill 21,824 21,824
Bank owned life insurance 2,952 2,914
Interest rate swap assets 23,829 23,942
Accrued interest receivable and other assets 64,053 61,314
Total assets 2,776,147 2,710,529
Deposits:    
Non interest-bearing 625,762 653,166
Interest-bearing 1,771,121 1,776,261
Total deposits 2,396,883 2,429,427
FHLBNY overnight advances 109,110 31,920
Long-term finance lease obligation 3,779 3,050
Operating lease liabilities 5,629 5,827
Dividends payable 0 1,469
Interest rate swap liabilities 23,851 23,981
Accrued interest payable and other liabilities 21,586 19,614
Total liabilities 2,560,838 2,515,288
Shareholders' equity:    
Common stock, $0.01 par value per share, 10,000,000 shares authorized; 5,310,076 issued as of December 31, 2024 and December 31, 2023 53 53
Additional-paid-in capital 48,783 47,773
Retained earnings 247,705 229,930
Treasury stock, at cost (555,881 shares as of December 31, 2024; 572,663 shares as of December 31, 2023) (16,167) (16,502)
Accumulated other comprehensive (loss) (65,065) (66,013)
Total shareholders' equity 215,309 195,241
Total liabilities and shareholders' equity $ 2,776,147 $ 2,710,529