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Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 41,182 $ 193,446
Securities available for sale, at fair value 314,248 324,892
Securities held to maturity (fair value of $29,115 at December 31, 2022 and $22,849 at December 31, 2021) 33,705 23,281
Other Investments 16,069 10,182
Loans receivable, net of allowance of $13,400 at December 31, 2022 and $14,425 at December 31, 2021 1,531,727 1,273,184
Interest and dividends receivable 6,893 5,372
Premises and equipment, net 29,825 28,126
Right-of-use assets 25,906 25,457
Bank owned life insurance 21,576 21,662
Other assets 22,207 8,609
Total assets 2,043,338 1,914,211
Liabilities    
Deposits 1,288,862 1,247,040
Advances from the Federal Home Loan Bank 310,500 185,500
Advances by borrowers for taxes and insurance 9,302 9,582
Lease liabilities 27,324 26,696
Other liabilities 13,632 15,922
Total liabilities 1,649,620 1,484,740
Shareholders’ equity    
Preferred stock, $0.01 par value, 10,000,000 authorized; none issued 0 0
Common stock $0.01 par value; 70,000,000 shares authorized; 28,522,500 shares issued at December 31, 2022 and December 31, 2021; 27,523,219 and 28,522,500 shares outstanding at December 31, 2022 and December 31, 2021, respectively. 285 285
Additional paid-in capital 279,454 282,006
Retained earnings 171,763 169,457
Treasury Stock, at cost: 999,281 shares at December 31, 2022 (12,072) 0
Unallocated common shares held by Employee Stock Ownership Plan (20,993) (21,905)
Accumulated other comprehensive loss (24,719) (372)
Total shareholders’ equity 393,718 429,471
Total liabilities and shareholders’ equity $ 2,043,338 $ 1,914,211