Investment Securities (Tables)

6 Months Ended

Jun. 30, 2025

Investment Securities

Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale securities

The amortized cost, gross unrealized gains and losses and fair values of available for sale securities are as follows:

	June 30, 2025
			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. Treasury securities	$	12,966	$	86	$	(53)	$	12,999
U.S. government agency mortgage-backed securities–residential		97,425		35		(7,961)		89,499
U.S. government agency securities		22,003		—		(430)		21,573
Municipal securities(1)		2,220		—		(161)		2,059
Corporate bonds		16,049		23		(1,291)		14,781
Other		656		—		(227)		429
Total	$	151,319	$	144	$	(10,123)	$	141,340

	December 31, 2024
			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. Treasury securities	$	29,841	$	6	$	(154)	$	29,693
U.S. government agency mortgage-backed securities–residential		103,948		—		(10,456)		93,492
U.S. government agency securities		22,010		—		(844)		21,166
Municipal securities(1)		2,717		—		(224)		2,493
Corporate bonds		14,054		—		(1,471)		12,583
Other		642		—		(122)		520
Total	$	173,212	$	6	$	(13,271)	$	159,947

⁽¹⁾ The issuers of municipal securities are all within New York State.

Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position

The following tables present the fair value and unrealized losses of the Company’s available for sale securities with gross unrealized losses aggregated by the length of time the individual securities have been in a continuous unrealized

loss position:

	June 30, 2025
	Less Than 12 Months				12 Months or Longer				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. Treasury securities	$	5,010	$	(8)	$	2,999	$	(45)	$	8,009	$	(53)
U.S. government agency mortgage-backed securities-residential		30,764		(278)		54,838		(7,683)		85,602		(7,961)
U.S. government agency securities		—		—		22,003		(430)		22,003		(430)
Municipal securities		—		—		2,120		(161)		2,120		(161)
Corporate bonds		—		—		14,054		(1,291)		14,054		(1,291)
Other		—		—		656		(227)		656		(227)
Total	$	35,774	$	(286)	$	96,670	$	(9,837)	$	132,444	$	(10,123)

	December 31, 2024
	Less Than 12 Months				12 Months or Longer				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. Treasury securities	$	9,957	$	(22)	$	4,866	$	(132)	$	14,823	$	(154)
U.S. government agency mortgage-backed securities-residential		44,577		(1,074)		48,915		(9,382)		93,492		(10,456)
U.S. government agency securities		—		—		21,166		(844)		21,166		(844)
Municipal securities		—		—		2,493		(224)		2,493		(224)
Corporate bonds		—		—		12,583		(1,471)		12,583		(1,471)
Other		—		—		497		(122)		497		(122)
Total	$	54,534	$	(1,096)	$	90,520	$	(12,175)	$	145,054	$	(13,271)

Schedule of maturities of debt securities

The amortized cost and fair value of available for sale debt securities at June 30, 2025 and December 31, 2024, by contractual maturities, are presented below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary:

	June 30, 2025				December 31, 2024
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity:
Within 1 year	$	20,011	$	19,852	$	34,394	$	34,056
After 1 but within 5 years		18,679		18,305		20,901		20,113
After 5 but within 10 years		14,548		13,255		13,327		11,766
After 10 years		—		—		—		—
Total Maturities		53,238		51,412		68,622		65,935
Mortgage-backed securities		97,425		89,499		103,948		93,492
Other		656		429		642		520
Total	$	151,319	$	141,340	$	173,212	$	159,947