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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and amounts due from depository institutions $ 13,378 $ 11,520
Interest-earning deposits 259,834 217,839
Total cash and cash equivalents 273,212 229,359
Interest-earning time deposits 735 735
Debt securities available for sale 87,648 91,715
Equity investments 12,825 17,686
Loans held for sale   658
Loans receivable, net of allowance for credit losses of $30,205 and $32,373 respectively [1] 3,319,721 3,045,331
Federal Home Loan Bank of New York stock, at cost 31,667 20,113
Premises and equipment, net 13,561 10,508
Accrued interest receivable 15,384 13,455
Other real estate owned 75 75
Deferred income taxes 16,445 16,462
Goodwill and other intangibles 5,324 5,382
Operating lease right-of-use assets 13,658 13,520
Bank-owned life insurance ("BOLI") 72,344 71,656
Other assets 10,254 9,538
Total Assets 3,872,853 3,546,193
LIABILITIES    
Non-interest bearing deposits 620,509 613,910
Interest bearing deposits 2,265,212 2,197,697
Total deposits 2,885,721 2,811,607
FHLB advances 622,536 382,261
Subordinated debentures 37,624 37,508
Operating lease liability 14,003 13,859
Other liabilities 13,346 9,704
Total Liabilities 3,573,230 3,254,939
STOCKHOLDERS' EQUITY    
Preferred stock: $0.01 par value, 10,000,000 shares authorized; issued and outstanding 2,123 shares of Series H 3.5% and Series I 3.0%, (liquidation value $10,000 per share) noncumulative perpetual preferred stock at June 30, 2023 and December 31, 2022
Additional paid-in capital preferred stock 21,003 21,003
Common stock: no par value; 40,000,000 shares authorized; issued 20,022,454 and 19,898,197 at June 30, 2023 and December 31, 2022, respectively, outstanding 16,788,483 and 16,930,979, at June 30, 2023 and December 31, 2022, respectively
Additional paid-in capital common stock 197,521 196,164
Retained earnings 128,867 115,109
Accumulated other comprehensive loss (9,421) (6,491)
Treasury stock, at cost, 3,233,971 and 2,967,218 shares at June 30, 2023 and December 31, 2022, respectively (38,347) (34,531)
Total Stockholders' Equity 299,623 291,254
Total Liabilities and Stockholders' Equity $ 3,872,853 $ 3,546,193
[1] The Company adopted ASU 2016-13 as of January 1, 2023. Prior year periods have not been restated.