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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans $ 143,565 $ 128,439
Securities 7,880 8,431
Other short-term investments 9,564 3,802
Total interest income 161,009 140,672
Interest expense:    
Deposits and escrow 73,069 37,272
Borrowed funds 14,697 16,171
Derivative cash collateral 1,713 1,477
Total interest expense 89,479 54,920
Net interest income 71,530 85,752
Provision (recovery) for credit losses 5,210 (3,648)
Net interest income after provision (recovery) for credit losses 66,320 89,400
Non-interest income:    
Service charges and other fees 4,544 3,814
Title fees 133 292
Loan level derivative income 406 3,133
BOLI income 2,461 2,163
Gain on sale of SBA loans 253 516
Gain on sale of residential loans 77 48
Fair value change in equity securities and loans held for sale (842)  
Net loss on sale of securities   (1,447)
Gain on sale of other assets 2,968  
Other 467 482
Total non-interest income 10,467 9,001
Non-interest expense:    
Salaries and employee benefits 32,037 26,634
Severance 42 25
Occupancy and equipment 7,368 7,373
Data processing costs 4,313 4,238
Marketing 1,497 1,449
Professional services 1,467 1,923
Federal deposit insurance premiums 2,239 1,873
Loss from extinguishment of debt for FHLBNY advances 453  
Amortization of other intangible assets 307 377
Other 2,788 3,583
Total non-interest expense 52,511 47,475
Income before income taxes 24,276 50,926
Income tax expense 6,585 13,623
Net income 17,691 37,303
Preferred stock dividends 1,821 1,821
Net income available to common stockholders $ 15,870 $ 35,482
Earnings per common share:    
Basic (in dollars per share) $ 0.41 $ 0.92
Diluted (in dollars per share) $ 0.41 $ 0.92