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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Loans $ 554,488 $ 406,601 $ 359,016
Securities 32,179 29,224 22,634
Other short-term investments 22,693 3,400 2,976
Total interest income 609,360 439,225 384,626
Interest expense:      
Deposits and escrow 219,045 38,433 16,527
Borrowed funds 66,472 19,117 10,490
Derivative cash collateral 7,272 1,812  
Total interest expense 292,789 59,362 27,017
Net interest income 316,571 379,863 357,609
Provision for credit losses 2,770 5,374 6,212
Net interest income after provision for credit losses 313,801 374,489 351,397
Non-interest income:      
Service charges and other fees 16,437 16,206 15,998
Title fees 1,295 2,031 2,338
Loan level derivative income 7,081 3,637 2,909
BOLI income 9,748 10,346 7,071
Gain on sale of SBA loans 1,592 1,797 23,033
Gain on sale of residential loans 115 448 1,758
Net (loss) gain on equity securities (758)   131
Net (loss) gain on sale of securities and other assets (1,469) 1,397 1,705
Loss on termination of derivatives     (16,505)
Other 2,165 2,294 3,630
Total non-interest income 36,206 38,156 42,068
Non-interest expense:      
Salaries and employee benefits 117,437 120,108 108,331
Severance 9,093 2,198 1,875
Occupancy and equipment 29,055 30,220 30,697
Data processing costs 16,474 15,175 16,638
Marketing 6,781 5,900 4,661
Professional services 6,155 8,069 9,284
Federal deposit insurance premiums 8,853 3,900 4,077
Loss from extinguishment of debt for FHLBNY advances and subordinated debt   740 1,751
Curtailment loss     (1,543)
Merger expenses and transaction costs     44,824
Branch restructuring costs     5,059
Amortization of other intangible assets 1,425 1,878 2,622
Other 17,855 12,542 13,937
Total non-interest expense 213,128 200,730 245,299
Income before income taxes 136,879 211,915 148,166
Income tax expense 40,785 59,359 44,170
Net income 96,094 152,556 103,996
Preferred stock dividends 7,286 7,286 7,286
Net income available to common stockholders $ 88,808 $ 145,270 $ 96,710
Earnings per common share:      
Basic (in dollars per share) $ 2.29 $ 3.73 $ 2.45
Diluted (in dollars per share) $ 2.29 $ 3.73 $ 2.45