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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and dividend income      
Interest and fees on loans $ 293,287 $ 274,331 $ 248,153
Interest and dividends on securities:      
Interest 20,861 13,999 15,776
Dividends 60 29 43
Other interest income 2,418 203 355
Total interest and dividend income 316,626 288,562 264,327
Interest expense      
Deposits 47,285 20,324 42,312
Other interest expense 25,725 20,269 26,816
Total interest expense 73,010 40,593 69,128
Net interest income 243,616 247,969 195,199
Provision (benefit) for credit losses 5,081 (4,944) 23,129
Net interest income after provision (benefit) for credit losses 238,535 252,913 172,070
Non-interest income      
Banking services fee income 5,122 5,965 4,500
Net gain on sale of loans 119 335 48
Net gain on disposition of assets 104 621  
Net (loss) gain on sale of securities (10,948) 113 (701)
Net gain (loss) from fair value adjustments 5,728 (12,995) (2,142)
Federal Home Loan Bank of New York stock dividends 2,000 2,097 3,453
Life insurance proceeds 1,822   659
Bank owned life insurance 4,487 4,044 3,814
Other income 1,575 3,507 1,412
Total non-interest income 10,009 3,687 11,043
Non-interest expense      
Salaries and employee benefits 84,374 88,310 74,228
Occupancy and equipment 14,606 14,002 12,134
Professional services 9,207 7,439 9,374
FDIC deposit insurance 2,258 2,951 2,676
Data processing 5,595 7,044 8,586
Depreciation and amortization of bank premises and equipment 5,930 6,425 6,212
Other real estate owned / foreclosure expense 294 323 216
Net loss from sales of real estate owned     36
Prepayment penalty on borrowings     7,834
Other operating expenses 21,428 20,828 16,635
Total non-interest expense 143,692 147,322 137,931
Income before income taxes 104,852 109,278 45,182
Provision for income taxes      
Federal 17,569 20,078 9,188
State and local 10,338 7,407 1,320
Total provision for income taxes 27,907 27,485 10,508
Net income $ 76,945 $ 81,793 $ 34,674
Basic earnings per common share $ 2.50 $ 2.59 $ 1.18
Diluted earnings per common share $ 2.50 $ 2.59 $ 1.18