Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities:
Net income	$ 18,623	$ 29,483	$ 45,579
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment	1,713	1,978	2,246
Amortization and accretion, net	(1,464)	(2,533)	(1,607)
Provision (benefit) for credit losses	11,570	6,104	(3,075)
Deferred income tax expense (benefit)	258	(2,537)	(1,007)
Loans originated for sale	(4,874)	(2,964)	(6,608)
Proceeds from sale of loans	40,096	2,371	7,031
Loss (gain) on sales of loans	5,325	(36)	(129)
Gain on sales of fixed asset	(4)
Realized and unrealized loss (gain) on equity investments	(379)	3,361	6,269
Gain from sales of other real estate owned		(77)
Increase in cash surrender value of BOLI	(2,633)	(1,751)	(2,671)
Stock-based compensation expense	767	593	1,132
Net change in accrued interest receivable	896	(2,617)	(4,272)
Net change in other assets	(48)	(890)	(1,552)
Net change in accrued interest payable	(582)	2,704	2,022
Net change in other liabilities	(1,537)	1,969	(2,469)
Net Cash Provided by Operating Activities	67,727	35,158	40,889
Cash flows from Investing Activities:
Proceeds from repayments, calls, and maturities on securities	3,769	14,745	10,102
Purchases of securities	(15,224)	(12,498)	(27,468)
Proceeds from sales of securities		5,232	1,232
Proceeds from sales of premises	4
Proceeds from BOLI			3,500
Proceeds from sales of other real estate owned		152
Proceeds from sale of loans held in portfolio	6,127
Net decrease (increase) in loans receivable	228,676	(231,622)	(734,321)
Additions to premises and equipment	(1,225)	(4,527)	(518)
Purchase (redemption) of Federal Home Loan Bank of New York stock	645	(4,804)	(14,029)
Net Cash Provided by (Used In) Investing Activities	222,772	(233,322)	(761,502)
Cash flows from financing activities:
Net (decrease) increase in deposits	(228,222)	167,473	250,205
Proceeds from Federal Home Loan Bank of New York Long Term Advances		400,000	150,000
Repayments Federal Home Loan Bank of New York Long Term Advances	(18,000)	(150,000)
Net change in Federal Home Loan Bank of New York Short Term Advances		(160,000)	160,000
Purchase of treasury stock		(3,816)	(3,406)
Cash dividends paid on common stock	(10,443)	(10,440)	(10,379)
Cash dividends paid on preferred stock	(1,833)	(702)	(796)
Net proceeds from issuance of common stock	824	1,355	419
Net proceeds from issuance of preferred stock	9,690	15,270	6,810
Payments for redemption of preferred stock	(10,010)	(11,230)	(14,730)
Net proceeds from issuance of subordinated debt	38,754
Net payment from redemption of subordinated debt	(33,500)
Exercise of stock options		418	220
Net Cash (Used In) Provided by Financing Activities	(252,740)	248,328	538,343
Net (Decrease) Increase in Cash and Cash Equivalents	37,759	50,164	(182,270)
Cash and Cash Equivalents-Beginning	279,523	229,359	411,629
Cash and Cash Equivalents-Ending	317,282	279,523	229,359
Supplementary Cash Flow Information
Cash paid during the year for: Income taxes	6,879	18,027	18,804
Cash paid during the year for: Interest	$ 102,570	$ 81,594	$ 15,475

The net increase(decrease) in interest income from the amortization and accretion of net deferred loan origination fees and cost and premiums and discounts on debt security purchases. The amortization and accretion is recognized using the effective interest method over the term of the debt arrangement to which they pertain taking into account the effect of prepayments. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method.

No definition available.