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Subsequent Events | 6 Months Ended
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Jun. 30, 2020
Subsequent Events [Abstract] |
Subsequent Events | Note 13 – Subsequent Events On July 31, 2020 the Company announced that on August 31, 2020, it will redeem all 6,465 outstanding shares of its Series F 6% Noncumulative Perpetual Preferred Stock, par value $0.01 per share (the Series F shares”). The Series F shares will be redeemed at their face value amount of $1,000 per share plus accrued and unpaid dividends from and including July 31, 2020, up to August 31, 2020 for an aggregate redemption amount of $6.5 million. On July 17, 2020, the Bank opened its newest branch location at 269 Ferry Street in Newark, New Jersey. On July 10, 2020, the Company announced that on August 10, 2020, the Company will redeem all 388 outstanding shares of its Series C 6% Noncumulative Perpetual Preferred Stock, par value $0.01 per shares. The Series C shares will be redeemed at their face value amount of $10,000 per share plus a prorated dividend for an aggregate redemption of $3.9 million On July 8, 2020, the Board of Directors of the Company declared a common stock dividend of $0.14 per share to shareholders of record on August 7, 2020 with a payment date of August 21, 2020. The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business. While the Company did not incur significant disruptions during the three and six months ended June 30, 2020 from the COVID-19 pandemic, it is unable to predict the impact that the COVID-19 pandemic will have on its financial condition, results of operations and cash flows for future periods due to numerous uncertainties.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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