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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and amounts due from depository institutions $ 14,075 $ 16,597
Interest-earning deposits 303,207 262,926
Total cash and cash equivalents 317,282 279,523
Interest-earning time deposits 735 735
Debt securities available for sale, at fair value 101,717 87,769
Equity investments, at fair value 9,472 9,093
Loans held for sale   1,287
Loans receivable, net of allowance for credit losses of $34,789 and $33,608, respectively 2,996,259 3,279,708
Federal Home Loan Bank of New York stock, at cost 24,272 24,917
Premises and equipment, net 12,569 13,057
Accrued interest receivable 15,176 16,072
Deferred income taxes 17,181 18,213
Goodwill and other intangibles 5,253 5,253
Operating lease right-of-use assets 12,686 12,935
Bank-owned life insurance ("BOLI") 76,040 73,407
Other assets 10,476 10,428
Total Assets 3,599,118 3,832,397
LIABILITIES    
Non-interest-bearing deposits 520,387 536,264
Interest bearing deposits 2,230,471 2,442,816
Total deposits 2,750,858 2,979,080
FHLB Advances 455,361 472,811
Subordinated debentures 42,961 37,624
Operating lease liability 13,139 13,315
Other liabilities 12,874 15,512
Total Liabilities 3,275,193 3,518,342
STOCKHOLDERS' EQUITY    
Preferred stock: $0.01 par value, 10,000,000 shares authorized; issued and outstanding 2,496 shares of Series J 8.0% and Series K 6.0% (liquidation value $10,000 per share) noncumulative perpetual preferred stock at December 31, 2024 and 2,528 shares of Series I 3.0% and Series J 8.0% (liquidation value $10,000 per share) noncumulative perpetual preferred stock at December 31, 2023
Additional paid-in capital preferred stock 24,723 25,043
Common stock: no par value; 40,000,000 shares authorized, issued 20,296,748 and 20,138,294 at December 31, 2024 and December 31, 2023, respectively, outstanding 17,062,777 shares and 16,904,323 shares, at December 31, 2024 and December 31, 2023, respectively
Additional paid-in capital common stock 200,935 198,923
Retained earnings 141,853 135,927
Accumulated other comprehensive loss (5,239) (7,491)
Treasury stock, at cost, 3,233,971 and 3,233,971 shares at December 31, 2024 and December 31, 2023, respectively (38,347) (38,347)
Total Stockholders' Equity 323,925 314,055
Total Liabilities and Stockholders' Equity $ 3,599,118 $ 3,832,397