| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | ||
|---|---|---|---|---|---|---|
Interest and dividend income: | ||||||
Interest on loans receivable | ||||||
49,306 | 44,948 | 38,172 | 32,660 | 32,100 | ||
Interest on deposits due from banks | ||||||
617 | 679 | 259 | - | - | ||
Interest and dividend on available-for-sale securities and FHLBNY stock | ||||||
568 | 529 | 558 | - | - | ||
Interest and dividends on investment securities and FHLB stock | ||||||
- | - | - | 1,081 | 1,490 | ||
Total interest and dividend income | ||||||
50,491 | 46,156 | 38,989 | 33,741 | 33,590 | ||
Interest expense: | ||||||
Interest on certificates of deposit | ||||||
7,677 | 7,617 | 5,917 | 5,502 | 5,268 | ||
Interest on other deposits | ||||||
2,827 | 974 | 656 | 427 | 321 | ||
Interest on borrowings | ||||||
1,854 | 899 | 210 | 7 | 61 | ||
Total interest expense | ||||||
12,358 | 9,490 | 6,783 | 5,936 | 5,650 | ||
Net interest income | ||||||
38,133 | 36,666 | 32,206 | 27,805 | 27,940 | ||
Provision for loan losses (Note 4) | ||||||
258 | 1,249 | 1,716 | -57 | 353 | ||
Net interest income after provision for loan losses | ||||||
37,875 | 35,417 | 30,490 | 27,862 | 27,587 | ||
Noninterest income: | ||||||
Service charges and fees | ||||||
971 | 845 | 909 | 938 | - | ||
Service charges and fees | ||||||
- | - | - | - | 1,073 | ||
Brokerage commissions | ||||||
212 | 533 | 547 | 515 | 421 | ||
Late and prepayment charges | ||||||
755 | 606 | 810 | 302 | 548 | ||
Other | ||||||
745 | 954 | 838 | 676 | 420 | ||
Total noninterest income | ||||||
2,683 | 2,938 | 3,104 | 2,431 | 2,462 | ||
Noninterest expense: | ||||||
Compensation and benefits | ||||||
18,883 | 17,939 | 17,109 | 14,979 | 13,463 | ||
Loss on termination of pension plan | ||||||
9,930 | - | - | - | - | ||
Occupancy and equipment | ||||||
7,612 | 6,673 | 5,825 | 5,651 | 5,754 | ||
Data processing expenses | ||||||
1,576 | 1,408 | 1,470 | 1,617 | 1,299 | ||
Direct loan expenses | ||||||
692 | 788 | 739 | 860 | 725 | ||
Insurance and surety bond premiums | ||||||
414 | 369 | 269 | 464 | 699 | ||
Office supplies, telephone and postage | ||||||
1,185 | 1,309 | 1,103 | 1,071 | 997 | ||
FDIC deposit insurance assessment | ||||||
- | - | - | 538 | 899 | ||
Charitable foundation contributions | ||||||
- | - | 6,293 | - | - | ||
Professional fees | ||||||
3,237 | 3,154 | 1,060 | 959 | - | ||
Marketing and promotional expenses | ||||||
158 | 215 | 308 | 198 | - | ||
Directors fees | ||||||
294 | 277 | 289 | 288 | - | ||
Regulatory dues | ||||||
231 | 238 | 262 | 231 | - | ||
Other operating expenses | ||||||
2,395 | 2,187 | 1,830 | 1,007 | 2,380 | ||
Total noninterest expense | ||||||
46,607 | 34,557 | 36,557 | 27,863 | 26,216 | ||
Income (loss) before income taxes | ||||||
-6,049 | 3,798 | -2,963 | 2,430 | 3,833 | ||
Provision (benefit) for income taxes (Note 8) | ||||||
-924 | 1,121 | 1,424 | 1,005 | 1,315 | ||
Net income (loss) | ||||||
-5,125 | 2,677 | -4,387 | 1,425 | 2,518 | ||
Earnings (loss) per share for the period (Note 10) | ||||||
Basic | ||||||
-0.29 | 0.15 | -0.16 | - | - | ||
Diluted | ||||||
-0.29 | 0.15 | -0.16 | - | - | ||