PARENT COMPANY ONLY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2025

PARENT COMPANY ONLY FINANCIAL INFORMATION

PARENT COMPANY ONLY FINANCIAL INFORMATION

16. PARENT COMPANY ONLY FINANCIAL INFORMATION

The following condensed financial statements summarize the financial position and results of operations and cash flows of the parent savings and loan holding company, Seneca Financial Corp., as of December 31, 2025 and 2024 and for the years then ended:

Parent Only Condensed Balance Sheets

	At December 31,
(In thousands)	2025		2024
Assets
Cash in bank subsidiary	$	3,268	$	79
Investments in subsidiaries, at underlying equity		27,681		23,068
Loan receivable - ESOP		1,420		666
Other assets		754		45
Total assets	$	33,123	$	23,858
Liabilities and Stockholders' Equity
Liabilities:
Other liabilities	$	372	$	—
Total liabilities		372		—
Stockholders' equity:
Total stockholders' equity		32,751		23,858
Total liabilities and stockholders' equity	$	33,123	$	23,858

Parent Only Condensed Statements of Income

	Year Ended December 31,
(In thousands)	2025		2024
Interest income:
Income on ESOP loan	$	23	$	28
Total interest income		23		28
Non-interest expenses:
Professional fees		268		152
Other non-interest expense		119		75
Total non-interest expense		387		227
Loss before taxes and equity in undistributed net income of bank subsidiary		(364)		(199)
Income tax benefit		—		42
Loss before equity in undistributed net income of bank subsidiary		(364)		(157)
Equity in undistributed net income of bank subsidiary		536		869
Net income	$	172	$	712

Parent Only Statement of Cash Flows

	Year Ended December 31,
(In thousands)	2025		2024
Cash flows from operating activities:
Net income	$	172	$	712
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of Bank		(536)		(869)
Net change in other assets		(87)		(43)
Net change in other liabilities		372		—
Stock-based compensation expense		61		75
Net used in operating activities		(18)		(125)
Cash flows from investing activities:
Payments received on ESOP loan		82		18
Net cash used in investing activities		82		18
Cash flows from financing activities:
Net cash proceeds from stock offering and conversion		8,565		—
Purchase of common stock for ESOP		(836)		—
Distribution to bank subsidiary		(4,613)		—
Issuance and exchange of common stock		9		—
Repurchase of shares into treasury stock		—		(70)
Net cash provided by financing activities		3,125		(70)
Net change in cash and cash equivalents		3,189		(177)
Cash and cash equivalents -beginning of year		79		256
Cash and cash equivalents - end of year	$	3,268	$	79