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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from financial institutions $ 32,087 $ 26,224
Interest-earning deposits in other financial institutions 21,348 20,811
Total cash and cash equivalents 53,435 47,035
Equity investments, at estimated fair value 3,249 3,235
Securities available for sale, at estimated fair value (amortized cost of $603,126, at March 31, 2025 and $617,271 at December 31, 2024, net of allowance for credit losses of $0 at March 31, 2025 and December 31, 2024, respectively) 528,327 531,442
Securities held to maturity, at amortized cost (estimated fair value of $808 at March 31, 2025 and December 31, 2024, respectively, net of allowance for credit losses of $0 at March 31, 2025 and December 31, 2024, respectively) 808 808
FHLBNY and FRBNY stock, at cost 8,040 9,117
Loans, net of deferred loan fees 2,097,636 2,071,419
Allowance for credit losses (22,522) (21,388)
Loans, net 2,075,114 2,050,031
Loans held for sale 284 0
Premises and equipment, net 16,222 16,375
Operating lease right-of-use assets 5,332 5,446
Goodwill 21,824 21,824
Bank-owned life insurance 2,960 2,952
Interest rate swap assets 20,511 23,829
Accrued interest receivable and other assets 60,619 64,053
Total assets 2,796,725 2,776,147
Deposits:    
Non interest-bearing 619,645 625,762
Interest-bearing 1,813,751 1,771,121
Total deposits 2,433,396 2,396,883
Overnight and short-term advances 85,000 109,110
Long term finance lease obligation 3,701 3,779
Operating lease liabilities 5,516 5,629
Interest rate swap liabilities 20,594 23,851
Accrued interest payable and other liabilities 20,212 21,586
Total liabilities 2,568,419 2,560,838
Shareholders' equity:    
Common stock, $0.01 par value per share, 10,000,000 shares authorized; 5,310,076 issued at March 31, 2025 and December 31, 2024 53 53
Additional paid-in capital 48,157 48,783
Retained earnings 252,195 247,705
Treasury stock, at cost; $520,857 shares at March 31, 2025 and $555,881 shares at December 31, 2024 (15,180) (16,167)
Accumulated other comprehensive loss (56,919) (65,065)
Total shareholders' equity 228,306 215,309
Total liabilities and shareholders' equity $ 2,796,725 $ 2,776,147