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FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2025
FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of financial assets measured at fair value on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(In thousands)

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

​

​

​

Available-for-sale Securities:

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

December 31, 2025:

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

U.S. Treasury securities

​

$

14,795

​

$

—

​

$

14,795

​

$

—

U.S. Government Agency securities

​

 

900

​

 

—

​

 

900

​

 

—

Municipal securities

​

 

13,527

​

 

—

​

 

13,379

​

 

148

Mortgage-backed securities and collateralized mortgage obligations

​

 

10,915

​

 

—

​

 

10,915

​

 

—

Corporate securities

​

 

8,498

​

 

—

​

 

8,498

​

 

—

​

​

$

48,635

​

$

—

​

$

48,487

​

$

148

December 31, 2024:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

U.S. Treasury securities

​

$

15,811

​

$

—

​

$

15,811

​

$

—

U.S. Government Agency securities

​

 

838

​

 

—

​

 

838

​

 

—

Municipal securities

​

 

14,281

​

 

—

​

 

14,281

​

 

—

Mortgage-backed securities and collateralized mortgage obligations

​

 

5,755

​

 

—

​

 

5,755

​

 

—

Corporate securities

​

 

9,799

​

 

—

​

 

9,799

​

 

—

​

​

$

46,484

​

$

—

​

$

46,484

​

$

—

Schedule of reconciliation of assets measured at fair value on a recurring basis

​

​

​

​

​

​

  ​ ​ ​

Municipal Securities

(In thousands)

​

2025

​

​

​

Balance of recurring Level 3 assets at January 1

​

$

—

Transfers into Level 3

​

 

148

Balance of recurring Level 3 assets at December 31

​

$

148

Schedule of carrying amounts and estimated fair values of financial assets and liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Carrying

​

​

​

​

​

​

​

Fair

(In thousands)

​

Amount

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Value

​

​

​

​

December 31, 2025:

​

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Financial assets:

​

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Cash and cash equivalents

​

$

5,328

​

$

5,328

​

$

—

​

$

—

​

$

5,328

Securities available-for-sale, net of allowance for credit losses of $518

​

 

48,635

​

 

—

​

 

48,487

​

 

148

​

 

48,635

Federal Home Loan Bank of New York stock, at cost

​

 

3,272

​

 

—

​

 

3,272

​

 

—

​

 

3,272

Federal Reserve Bank stock, at cost

​

​

131

​

​

—

​

​

131

​

​

—

​

​

131

Loans, net of allowance for credit losses of $1,915

​

 

226,030

​

 

—

​

 

—

​

 

213,685

​

 

213,685

Accrued interest receivable

​

 

1,479

​

 

1,479

​

 

—

​

 

—

​

 

1,479

Financial liabilities:

​

 

​

​

 

​

​

 

​

​

 

​

​

 

  ​

Deposits

​

 

234,426

​

 

85,684

​

 

140,079

​

 

—

​

 

225,763

Federal Home Loan Bank advances

​

 

35,567

​

 

—

​

 

36,987

​

 

—

​

 

36,987

Accrued interest payable

​

 

120

​

 

120

​

 

—

​

 

—

​

 

120

Advances from borrowers for taxes and insurance

​

 

2,389

​

 

2,389

​

 

—

​

 

—

​

 

2,389

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024:

​

 

  ​

​

 

​

​

 

  ​

​

 

  ​

​

 

  ​

Financial assets:

​

 

  ​

​

 

​

​

 

  ​

​

 

  ​

​

 

  ​

Cash and cash equivalents

​

$

6,788

​

$

6,788

​

$

—

​

$

—

​

$

6,788

Securities available-for-sale, net of allowance for credit losses of $498

​

 

46,484

​

 

—

​

 

46,484

​

 

—

​

 

46,484

Federal Home Loan Bank of New York stock, at cost

​

 

3,361

​

 

—

​

​

3,361

​

​

—

​

​

3,361

Loans, net of allowance for credit losses of $1,804

​

 

202,429

​

 

—

​

 

—

​

 

189,034

​

 

189,034

Accrued interest receivable

​

 

1,247

​

 

1,247

​

​

—

​

​

—

​

​

1,247

Financial liabilities:

​

 

  ​

​

 

​

​

 

​

​

 

​

​

 

​

Deposits

​

 

210,571

​

 

80,449

​

 

122,793

​

 

—

​

 

203,242

Federal Home Loan Bank advances

​

 

41,253

​

 

—

​

 

41,920

​

 

​

​

 

41,920

Accrued interest payable

​

 

146

​

 

146

​

 

—

​

 

—

​

 

146

Advances from borrowers for taxes and insurance

​

 

2,349

​

 

2,349

​

 

—

​

 

—

​

 

2,349

Schedule of assets measured at fair value on a nonrecurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(In thousands)

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

​

 

​

December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

Collateral-dependent loans

​

$

2,259

​

$

—

​

$

—

​

$

2,259

​

​

$

2,259

​

$

—

​

$

—

​

$

2,259

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

Collateral-dependent loans

​

$

652

​

$

—

​

$

—

​

$

652

​

​

$

652

​

$

—

​

$

—

​

$

652

Schedule of quantitative information about assets measured at fair value on a nonrecurring basis

​

​

​

​

​

​

​

​

​

​

​

​

Quantitative Information about Level 3 Fair Value Measurements

​

​

​

​

​

​

Adjustment

​

  ​ ​ ​

Valuation

  ​ ​ ​

Unobservable

  ​ ​ ​

​

  ​ ​ ​

(Weighted-

​

​

Techniques

​

Input

​

Range

​

average)

Collateral-dependent loans

 

Lower of appraisal

 

Appraisal

 

10%-55%

​

(26%) 2025

​

 

of collateral or

 

adjustments

​

10%

 

(10%) 2024

​

 

asking priceless

​

​

​

​

 

​

​

 

selling costs

​

​

​

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

 

Selling costs

 

7%-14%

​

(10%) 2025

​

​

​

​

​

 

8%-13%

​

(10%) 2024