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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and amounts due from depository institutions $ 16,772 $ 11,520
Interest-earning deposits 235,144 217,839
Total cash and cash equivalents 251,916 229,359
Interest-earning time deposits 735 735
Debt securities available for sale 86,172 91,715
Equity investments 8,272 17,686
Loans held for sale 472 658
Loans receivable, net of allowance for credit losses of $31,914 and $32,373 respectively [1] 3,285,727 3,045,331
Federal Home Loan Bank of New York stock, at cost 31,629 20,113
Premises and equipment, net 13,363 10,508
Accrued interest receivable 16,175 13,455
Other real estate owned 75 75
Deferred income taxes 16,749 16,462
Goodwill and other intangibles 5,288 5,382
Operating lease right-of-use assets 12,953 13,520
Bank-owned life insurance ("BOLI") 72,810 71,656
Other assets 9,784 9,538
Total Assets 3,812,120 3,546,193
LIABILITIES    
Non-interest-bearing deposits 523,912 613,910
Interest bearing deposits 2,295,644 2,197,697
Total deposits 2,819,556 2,811,607
FHLB advances 622,674 382,261
Subordinated debentures 37,624 37,508
Operating lease liability 13,318 13,859
Other liabilities 15,312 9,704
Total Liabilities 3,508,484 3,254,939
STOCKHOLDERS' EQUITY    
Preferred stock: $0.01 par value, 10,000,000 shares authorized; issued and outstanding 2,101 shares of Series H 3.5% and Series I 3.0%, (liquidation value $10,000 per share) noncumulative perpetual preferred stock at September 30, 2023 and 2,123 shares of Series H 3.5% and Series I 3.0% at December 31, 2022, respectively
Additional paid-in capital preferred stock 20,783 21,003
Common stock: no par value; 40,000,000 shares authorized; issued 20,081,977 and 19,898,197 at September 30, 2023 and December 31, 2022, respectively, outstanding 16,848,006 and 16,930,979, at September 30, 2023 and December 31, 2022, respectively
Additional paid-in capital common stock 198,097 196,164
Retained earnings 132,729 115,109
Accumulated other comprehensive loss (9,626) (6,491)
Treasury stock, at cost, 3,233,971 and 2,967,218 shares at September 30, 2023 and December 31, 2022, respectively (38,347) (34,531)
Total Stockholders' Equity 303,636 291,254
Total Liabilities and Stockholders' Equity $ 3,812,120 $ 3,546,193
[1] The Company adopted ASU 2016-13 as of January 1, 2023. Prior year periods have not been restated.