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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income      
Interest and fees on loans $ 274,331 $ 248,153 $ 251,744
Interest and dividends on securities:      
Interest 13,999 15,776 25,535
Dividends 29 43 73
Other interest income 203 355 1,604
Total interest and dividend income 288,562 264,327 278,956
Interest expense      
Deposits 20,324 42,312 88,057
Other interest expense 20,269 26,816 28,959
Total interest expense 40,593 69,128 117,016
Net interest income 247,969 195,199 161,940
(Benefit) provision for credit losses (4,944) 23,129 2,811
Net interest income after benefit provision for credit losses 252,913 172,070 159,129
Non-interest income      
Banking services fee income 5,965 4,500 3,723
Net gain on sale of loans 335 48 870
Net gain on disposition of assets 621    
Net gain (loss) on sale of securities 113 (701) (15)
Net gain on sale of assets     770
Net loss from fair value adjustments (12,995) (2,142) (5,353)
Federal Home Loan Bank of New York stock dividends 2,097 3,453 3,589
Life insurance proceeds 0 659 462
Bank owned life insurance 4,044 3,814 3,534
Other income 3,507 1,412 1,891
Total non-interest income 3,687 11,043 9,471
Non-interest expense      
Salaries and employee benefits 88,310 74,228 67,765
Occupancy and equipment 14,002 12,134 11,328
Professional services 7,439 9,374 8,358
FDIC deposit insurance 2,951 2,676 869
Data processing 7,044 8,586 5,878
Depreciation and amortization of bank premises and equipment 6,425 6,212 5,930
Other real estate owned/foreclosure expense 323 216 204
Net loss from sales of real estate owned   36  
Prepayment penalty on borrowings   7,834  
Other operating expenses 20,828 16,635 14,937
Total non-interest expense 147,322 137,931 115,269
Income before income taxes 109,278 45,182 53,331
Provision for income taxes      
Federal 20,078 9,188 10,439
State and local 7,407 1,320 1,613
Total provision for income taxes 27,485 10,508 12,052
Net income $ 81,793 $ 34,674 $ 41,279
Basic earnings per common share $ 2.59 $ 1.18 $ 1.44
Diluted earnings per common share $ 2.59 $ 1.18 $ 1.44