XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,023 $ 7,050
Adjustments to reconcile net income to net cash provided by operating activities:    
(Increases in) amortization of right-of-use assets 194 (370)
Provision (credit) for credit losses 1,092 (2,040)
Losses (gains) on disposal of fixed assets, net 14 (27)
Depreciation and amortization of fixed assets 467 465
Amortization of premiums on securities, net 510 510
(Gains) on sales of loans held for sale, net (40) (32)
Proceeds from sales of loans held for sale 2,022 1,677
Loans originated and held for sale (2,266) (1,741)
Losses on sale of other real estate owned, net 11 0
Change in fair value of equity investments, net 47 (101)
Proceeds from sales of equity investments 39 89
Purchase of equity investments (100) (35)
(Increase) decrease in other assets and accrued interest receivable (467) 926
(Decrease) increase in accrued interest payable (56) 1,920
Expense related to restricted stock units for directors' deferred compensation plan 6 5
Expense related to employee restricted stock awards 294 308
Increases in (payments on) operating lease liabilities (193) 370
(Gains) losses on interest rate swaps, net 61 (34)
Decrease in other liabilities (470) (997)
Income from bank owned life insurance (8) (9)
Net cash provided by operating activities 7,180 7,934
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities, calls, and principal paydowns on securities available for sale 13,635 11,942
Purchases of FHLBNY and FRBNY stock (8,244) (10,894)
Redemption of FHLBNY and FRBNY stock 9,321 12,321
Proceeds from sales of fixed assets 0 31
Purchases of premises and equipment (328) (81)
Proceeds from sale of other real estate owned 158 0
Net increase in loans (26,175) (31,185)
Net cash used in investing activities (11,633) (17,866)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand, interest-bearing demand, savings, and insured money market deposits 61,510 34,250
Net (decrease) increase in time deposits (24,997) 17,095
Net change in FHLBNY advances (24,110) (31,920)
Increases in (payments on) finance leases (78) (71)
Proceeds from FRB advances 0 50,000
Purchase of treasury stock (85) (82)
Sale of treasury stock 146 145
Cash dividends paid (1,533) (1,470)
Net cash provided by financing activities 10,853 67,947
Net increase in cash and cash equivalents 6,400 58,015
Cash and cash equivalents, beginning of period 47,035 36,847
Cash and cash equivalents, end of period 53,435 94,862
Cash paid for:    
Interest 11,937 11,210
Income taxes 443 459
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned 0 233
Dividends declared, not yet paid 0 1,473
Right-of-use assets obtained through operating lease liabilities $ 80 $ 570