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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2024
Mar. 31, 2023
Cash and cash equivalents:    
Cash and due from banks $ 58,522 $ 42,298
Money market investments 503 254
Total cash and cash equivalents 59,025 42,552
Investment securities:    
Available-for-sale 48,030 53,843
Held-to-maturity 2,008 2,318
Investments, Total 50,038 56,161
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 622,878  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (5,871)  
Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss, Total 617,007  
Loans and Leases Receivable, Net of Deferred Income   597,896
Loans and Leases Receivable, Allowance   (5,229)
Total loans receivable, net   592,667
Premises and equipment, net 2,567 3,174
Federal Home Loan Bank of New York (“FHLB-NY”) stock, at cost 2,004 2,266
Accrued interest receivable 3,662 1,911
Right-of-use assets 9,844 12,311
Other assets 12,649 12,182
Total assets 756,796 723,224
Deposits:    
Non-interest bearing checking 102,013 109,401
Interest-bearing checking 46,358 49,473
Savings 113,187 109,210
Money market 159,105 150,348
Certificates of deposit 223,719 178,694
Escrow 2,617 3,303
Interest-bearing Deposit Liabilities, Domestic, Total 544,986 491,028
Total deposits 646,999 600,429
Advances from the FHLB-NY and other borrowed money 46,536 51,090
Operating lease liability 10,616 13,173
Other liabilities 10,336 13,308
Total liabilities 714,487 678,000
EQUITY    
Common stock 77 68
Additional paid-in capital 87,660 82,805
Accumulated deficit (51,549) (47,904)
Treasury Stock, at cost (2,908) (2,908)
Accumulated other comprehensive loss (12,705) (12,215)
Total equity 42,309 45,224
Total liabilities and equity 756,796 723,224
Series D Preferred Stock    
EQUITY    
Preferred stock $ 9,557 $ 13,201
Preferred Stock, Shares Outstanding (in shares) 9,557 13,201
Preferred Stock, Shares Issued (in shares) 9,557 13,201
Series E Preferred Stock    
EQUITY    
Preferred stock $ 3,177 $ 3,177
Preferred Stock, Shares Outstanding (in shares) 3,177 3,177
Preferred Stock, Shares Issued (in shares) 3,177 3,177
Series F Preferred Stock    
EQUITY    
Preferred stock $ 9,000 $ 9,000
Preferred Stock, Shares Outstanding (in shares) 9,000 9,000
Preferred Stock, Shares Issued (in shares) 9,000 9,000
Real Estate    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 437,577  
Loans and Leases Receivable, Net of Deferred Income   $ 423,349
Business    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [1] 169,602  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest (1,415)  
Loans and Leases Receivable, Net of Deferred Income [1]   166,908
Loans and Leases Receivable, Allowance   (1,139)
Consumer    
Loans receivable:    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss [2] 15,699  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest $ (450)  
Loans and Leases Receivable, Net of Deferred Income [2]   7,639
Loans and Leases Receivable, Allowance   $ (449)
[1] 1) Includes business overdrafts of $73 thousand and $11 thousand as of March 31, 2024 and 2023, respectively
[2]
(2) Includes consumer overdrafts of $15 thousand and $19 thousand as of March 31, 2024 and 2023, respectively