Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Basis of Presentation

Consolidated Statements of Financial Condition:

	As of September 30, 2023
(In thousands)	As Reported		Adjustments		As Restated
Other assets	$	206,922	$	2,092	$	209,014
Total assets		8,577,283		2,092		8,579,375
Other liabilities		182,556		4,712		187,268
Total liabilities		7,908,142		4,712		7,912,854
Retained earnings		550,678		(2,620)		548,058
Total stockholders’ equity		669,141		(2,620)		666,521
Total liabilities and stockholders’ equity		8,577,283		2,092		8,579,375

Consolidated Statements of Income:

	For the three months ended September 30, 2023
(In thousands, except per share data)	As Reported		Adjustments		As Restated
Other income	$	282	$	(167)	$	115
Total non-interest income		3,476		(167)		3,309
Salaries and employee benefits		17,825		2,521		20,346
Professional services		3,042		(548)		2,494
Total non-interest expense		34,415		1,973		36,388
Income before income taxes		12,892		(2,140)		10,752
Federal income tax		2,435		(406)		2,029
State and local income tax		1,058		(170)		888
Total provision for income tax		3,493		(576)		2,917
Net income		9,399		(1,564)		7,835
Basic earnings per common share		0.32		(0.06)		0.26
Diluted earnings per common share		0.32		(0.06)		0.26

Consolidated Statements of Comprehensive Income:

	For the three months ended September 30, 2023
(In thousands)	As Reported		Adjustments		As Restated
Net income	$	9,399	$	(1,564)	$	7,835
Comprehensive net income		4,487		(1,564)		2,923

Consolidated Statements of Income:

	For the nine months ended September 30, 2023
(In thousands, except per share data)	As Reported		Adjustments		As Restated
Other income	$	2,065	$	(320)	$	1,745
Total non-interest income		15,506		(320)		15,186
Salaries and employee benefits		58,205		4,393		62,598
Professional services		8,182		(1,136)		7,046
Total non-interest expense		107,397		3,257		110,654
Income before income taxes		31,656		(3,577)		28,079
Federal income tax		5,996		(678)		5,318
State and local income tax		2,475		(279)		2,196
Total provision for income tax		8,471		(957)		7,514
Net income		23,185		(2,620)		20,565
Basic earnings per common share		0.77		(0.08)		0.69
Diluted earnings per common share		0.77		(0.08)		0.69

Consolidated Statements of Comprehensive Income:

	For the nine months ended September 30, 2023
(In thousands)	As Reported		Adjustments		As Restated
Net income	$	23,185	$	(2,620)	$	20,565
Comprehensive net income		18,742		(2,620)		16,122

Consolidated Statements of Cash Flows:

Operating Activities:	For the nine months ended September 30, 2023
(In thousands)	As Reported		Adjustments		As Restated
Net income	$	23,185	$	(2,620)	$	20,565
(Increase) decrease in other assets		(16,619)		(2,092)		(18,711)
(Decrease) Increase in other liabilities		(11,505)	$	4,712	$	(6,793)