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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:      
Net Income $ 5,866 $ 8,106 $ 9,952
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment 457 478 629
Amortization and accretion, net (530) (474) (375)
Provision (benefit) for credit losses [1] 2,088 622 (2,575)
Deferred income tax expense 702 1,149 735
Loans originated for sale (1,264)   (2,452)
Proceeds from sales of loans 2,596 664 3,144
Gain on sales of loans (45) (6) (65)
Gain on sale of fixed asset (4)    
Realized and unrealized (gain) loss on equity investments (130) 3,227 2,685
Stock-based compensation expense 195 106 95
Increase in cash surrender value of BOLI (675) (421) (755)
Net change in accrued interest receivable (1,370) (1,262) (410)
Net change in other assets 1,661 1,100 (107)
Net change in accrued interest payable (127) 1,304 (497)
Net change in other liabilities (1,132) 1,821 1,748
Net Cash Provided by Operating Activities 8,288 16,414 11,752
Cash flows from investing activities:      
Proceeds from repayments, calls, and maturities on securities 624 4,661 3,068
Purchases of securities     (7,488)
Proceeds from sales of securities     1,233
Proceeds from sales of fixed asset 4    
Net decrease (increase) in loans receivable 51,426 (183,527) (87,723)
Additions to premises and equipment (144) (76) (38)
Purchase of Federal Home Loan Bank of New York stock   (6,762) (44)
Net Cash Provided by (Used in) Investing Activities 51,910 (185,704) (90,992)
Cash flows from financing activities:      
Net increase in deposits 12,579 55,602 69,773
Proceeds from Federal Home Loan Bank of New York Long Term Advances   50,000  
Net change in Federal Home Loan Bank of New York Short Term Advances   100,000  
Purchases of treasury stock   (2,559) (8)
Cash dividends paid on common stock (2,608) (2,687) (2,601)
Cash dividends paid on preferred stock (434) (173) (276)
Net proceeds from issuance of common stock 500 405 86
Net proceeds from issuance of preferred stock 2,690   2,620
Payments for redemption of preferred stock     (5,330)
Exercise of Stock Options   418  
Net Cash Provided by (Used in) Financing Activities 12,727 201,006 64,264
Net Increase (Decrease) in Cash and Cash Equivalents 72,925 31,716 (14,976)
Cash and Cash Equivalents-Beginning 279,523 229,359 411,629
Cash and Cash Equivalents-Ending 352,448 261,075 396,653
Supplementary Cash Flow Information:      
Cash paid during the period for: Income taxes 979 797 411
Cash paid during the period for: Interest $ 26,268 $ 13,578 $ 3,150
[1] The Company adopted ASU 2016-13 as of January 1, 2023. Prior year periods have not been restated.