SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2025

SEGMENT INFORMATION

SEGMENT INFORMATION

15. SEGMENT INFORMATION

The Company has two primary business segments, its community banking franchise, and its wealth management agency.

The community banking segment provides financial services to consumers and businesses principally in the Greater Syracuse Area and Onondaga County of New York State. These services include providing various types of loans to customers, accepting deposits, mortgage banking, and other traditional banking services. Parent company income is included in the community-banking segment, as the majority of effort for these functions is related to this segment. Major revenue sources include net interest income and service fees on deposit accounts. Expenses include personnel and branch-network support charges. The wealth management agency segment offers individual investment management for individuals in the Greater Syracuse Area. The primary revenue source is commissions from 401(k) management and brokered accounts.

The Company’s Chief Financial Officer is the chief operating decision maker (“CODM”). The CODM evaluates the financial performance of the Company’s components such as evaluating revenue streams, significant expenses, and budget to actual results in assessing the performance of the Company’s segments in the determination of allocating resources. Financial information regarding each significant segment expense outlined below is regularly provided (at least monthly) to the CODM. For the community banking segment, interest expense is a significant segment expense. Additionally, for each of the two reportable segments, compensation and employee benefits are significant segment expenses.

Information about the segments is presented in the following table as of and for the periods indicated (in thousands):

Reconciliation of Assets	September 30, 2025		December 31, 2024
Total assets for Seneca Savings	$	315,698	$	280,030
Total assets for Financial Quest		1,178		1,183
Elimination of intercompany receivables		(418)		(274)
Total consolidated assets	$	316,458	$	280,939

	Three Months Ended September 30,
	2025						2024
	Seneca Savings		Financial Quest		Total		Seneca Savings		Financial Quest		Total
	Unaudited
INTEREST INCOME
Total interest income	$	3,779	$	—	$	3,779	$	3,414	$	—	$	3,414
INTEREST EXPENSE
Total interest expense		1,553		—		1,553		1,325		—		1,325
Net Interest Income		2,226		—		2,226		2,089		—		2,089
Provision for credit losses available-for-sale securities		—		—		—		—		—		—
Provision for credit losses loans receivable		80		—		80		—		—		—
Net interest income after provision for credit losses		2,146		—		2,146		2,089		—		2,089
NONINTEREST INCOME
Service fees		33		—		33		30		—		30
Income from financial services		—		245		245		—		244		244
Fee income		246		8		254		198		8		206
Net gains on sale of residential mortgage loans		63		—		63		51		—		51
Total noninterest income		342		253		595		279		252		531
NONINTEREST EXPENSE
Compensation and employee benefits		1,248		117		1,365		1,116		111		1,227
Core processing		435		—		435		390		—		390
Premises and equipment		211		6		217		181		6		187
Professional fees		77		25		102		56		—		56
Postage & office supplies		23		—		23		30		1		31
FDIC premiums		38		—		38		30		—		30
Advertising		72		2		74		86		1		87
Director fees		38		—		38		36		—		36
Other		173		52		225		151		53		204
Total noninterest expense		2,315		202		2,517		2,076		172		2,248
Income before provision for income taxes		173		51		224		292		80		372
PROVISION FOR INCOME TAXES		39		—		39		44		—		44
Net income	$	134	$	51	$	185	$	248	$	80	$	328

	Nine Months Ended September 30,
	2025						2024
	Seneca Savings		Financial Quest		Total		Seneca Savings		Financial Quest		Total
INTEREST INCOME
Total interest income	$	10,811	$	—	$	10,811	$	9,889	$	—	$	9,889
INTEREST EXPENSE
Total interest expense		4,226		—		4,226		3,935		—		3,935
Net interest income		6,585		—		6,585		5,954		—		5,954
Provision for credit losses available-for-sale securities		—		—		—		—		—		—
Provision for credit losses loans receivable		701		—		701		15		—		15
Net interest income after provision for credit losses		5,884		—		5,884		5,939		—		5,939
NONINTEREST INCOME
Service fees		98		—		98		91		—		91
Income from financial services		—		709		709		—		667		667
Fee income		575		24		599		519		24		543
Gain on sale of fixed assets		—		—		—		6		—		6
Earnings on bank-owned life insurance		78		—		78		26				26
Net gains on sale of residential mortgage loans		128		—		128		73		—		73
Total noninterest income		879		733		1,612		715		691		1,406
NONINTEREST EXPENSE
Compensation and employee benefits		3,686		352		4,038		3,304		318		3,622
Core processing		1,146		—		1,146		1,120		—		1,120
Premises and equipment		644		18		662		550		18		568
Professional fees		240		25		265		187		—		187
Postage & office supplies		80		1		81		86		1		87
FDIC premiums		105		—		105		90		—		90
Advertising		251		6		257		261		6		267
Director fees		122		1		123		121		3		124
Other		496		153		649		425		151		576
Total noninterest expense		6,770		556		7,326		6,144		497		6,641
Income before provision for income taxes		(7)		177		170		510		194		704
PROVISION FOR INCOME TAXES		33		—		33		94		—		94
Net income	$	(40)	$	177	$	137	$	416	$	194	$	610