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Consolidated Statements Of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans $ 31,456 $ 29,653 $ 62,243 $ 58,661
Mortgage-backed securities 3,068 2,260 5,794 4,616
Other securities 821 283 1,323 535
Federal Home Loan Bank of New York dividends 398 325 812 696
Deposits in other financial institutions 192 139 445 221
Total interest income 35,935 32,660 70,617 64,729
Interest expense:        
Deposits 6,050 3,899 11,261 7,519
Borrowings 2,115 1,852 4,042 3,624
Total interest expense 8,165 5,751 15,303 11,143
Net interest income 27,770 26,909 55,314 53,586
Provision for loan losses 670 511 704 883
Net interest income after provision for loan losses 27,100 26,398 54,610 52,703
Non-interest income:        
Fees and service charges for customer services 1,147 1,107 2,361 2,325
Income on bank owned life insurance 914 1,010 1,868 3,468
Gains on securities transactions, net 313 256 473 664
Other 71 64 147 127
Total non-interest income 2,445 2,437 4,849 6,584
Non-interest expense:        
Compensation and employee benefits 9,121 9,774 18,238 19,746
Occupancy 2,950 2,696 6,046 5,653
Furniture and equipment 252 287 508 592
Data processing 1,150 1,120 2,374 2,281
Professional fees 909 595 1,672 1,465
FDIC insurance 274 258 571 516
Other 2,384 1,888 4,757 3,909
Total non-interest expense 17,040 16,618 34,166 34,162
Income before income tax expense 12,505 12,217 25,293 25,125
Income tax expense 1,893 3,807 4,237 6,767
Net income $ 10,612 $ 8,410 $ 21,056 $ 18,358
Net income per common share:        
Basic (usd per share) $ 0.23 $ 0.19 $ 0.46 $ 0.41
Diluted (usd per share) $ 0.23 $ 0.18 $ 0.45 $ 0.39
Unrealized (losses) gains on securities:        
Net unrealized holding (losses) gains on securities $ (2,290) $ 2,107 $ (8,443) $ 3,086
Less: reclassification adjustment for net (gains) losses included in net income (included in gains on securities transactions, net) (116) 4 (171) 4
Net unrealized (losses) gains (2,406) 2,111 (8,614) 3,090
Amortization related to post retirement benefit obligation 0 27 0 54
Other comprehensive (loss) income, before tax (2,406) 2,138 (8,614) 3,144
Income tax benefit (expense) related to net unrealized holding (losses) gains on securities 640 (844) 2,369 (1,235)
Income tax benefit (expense) related to reclassification adjustment for (losses) gains included in net income 33 (2) 48 (2)
Income tax expense related to post retirement benefit adjustment 0 (11) 0 (22)
Other comprehensive (loss) income, net of tax (1,733) 1,281 (6,197) 1,885
Comprehensive income $ 8,879 $ 9,691 $ 14,859 $ 20,243