Fair Value (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on Recurring Basis

The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024, and indicate the level within the fair value hierarchy utilized to determine the fair value:

			June 30, 2025
Description	Total		Level 1		Level 2		Level 3
	(in thousands)
Available-for-Sale Securities, at fair value:
U.S. Government Bonds	$	2,926	$	2,926	$	—	$	—
Corporate bonds		14,595		246		14,349		—
Mortgage-Backed Securities:
Collateralized Mortgage Obligations		27,201		—		27,201		—
FHLMC Certificates		7,550		—		7,550		—
FNMA Certificates		44,203		—		44,203		—
GNMA Certificates		87		—		87		—
Mortgage Loans Held for Sale, at fair value		5,703		—		5,703		—
	$	102,265	$	3,172	$	99,093	$	—

			December 31, 2024
Description	Total		Level 1		Level 2		Level 3
	(in thousands)
Available-for-Sale Securities, at fair value:
U.S. Government Bonds	$	2,873	$	2,873	$	—	$	—
Corporate bonds		20,404		330		20,074		—
Mortgage-Backed Securities:
Collateralized Mortgage Obligations		28,535		—		28,535		—
FHLMC Certificates		7,662		—		7,662		—
FNMA Certificates		45,408		—		45,408		—
GNMA Certificates		88		—		88		—
Mortgage Loans Held for Sale, at fair value		10,736		—		10,736		—
Interest rate swap		2,005		—		2,005		—
	$	117,711	$	3,203	$	114,508	$	—

Assets Measured at Fair Value on Nonrecurring Basis

The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of June 30, 2025 and December 31, 2024 and indicate the fair value hierarchy utilized to determine the fair value:

	June 30, 2025
	Total		Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	19,474	$	—	$	—	$	19,474

	December 31, 2024
	Total		Level 1		Level 2		Level 3
	(in thousands)
Impaired loans	$	22,966	$	—	$	—	$	22,966

Estimated Fair Values of Financial Instruments

As of June 30, 2025 and December 31, 2024, the carrying values and estimated fair values of the Company's financial instruments were as follows:

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
June 30, 2025
Financial assets:
Cash and cash equivalents	$	126,639	$	126,639	$	—	$	—	$	126,639
Available-for-sale securities, at fair value		96,562		3,172		93,390		—		96,562
Held-to-maturity securities, at amortized cost, net		336,879		—		329,279		—		329,279
Placement with banks		249		—		249		—		249
Mortgage loans held for sale, at fair value		5,703		—		5,703		—		5,703
Loans receivable, net		2,458,712		—		—		2,448,877		2,448,877
Accrued interest receivable		19,126		—		19,126		—		19,126
FHLBNY stock		26,620		26,620		—		—		26,620
Financial liabilities:
Deposits:
Demand deposits		197,671		197,671		—		—		197,671
Interest-bearing deposits		1,094,017		1,094,017		—		—		1,094,017
Certificates of deposit		750,521		—		747,604		—		747,604
Advance payments by borrowers for taxes and insurance		10,942		—		10,942		—		10,942
Borrowings		536,100		—		531,758		—		531,758
Accrued interest payable		4,161		—		4,161		—		4,161

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
December 31, 2024
Financial assets:
Cash and cash equivalents	$	139,839	$	139,839	$	—	$	—	$	139,839
Available-for-sale securities, at fair value		104,970		3,203		101,767		—		104,970
Held-to-maturity securities, at amortized cost		367,938		—		355,294		—		355,294
Placement with banks		249		—		249		—		249
Mortgage loans held for sale, at fair value		10,736		—		10,736		—		10,736
Loans receivable, net		2,286,599		—		—		2,260,989		2,260,989
Accrued interest receivable		17,771		—		17,771		—		17,771
FHLBNY stock		29,182		29,182		—		—		29,182
Interest rate swap		2,005				2,005				2,005
Financial liabilities:
Deposits:
Demand deposits		169,178		169,178		—		—		169,178
Interest-bearing deposits		935,382		935,382		—		—		935,382
Certificates of deposit		780,304		—		778,603		—		778,603
Advance payments by borrowers for taxes and insurance		10,349		—		10,349		—		10,349
Borrowings		596,100		—		586,562		—		586,562
Interest rate swap		2,005		—		2,005		—		2,005
Accrued interest payable		3,712		—		3,712		—		3,712