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FAIR VALUE MEASUREMENT AND FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2026
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:

 

  ​

 

  ​

 

  ​

 

  ​

March 31, 2026:

 

  ​

 

  ​

 

  ​

 

  ​

U.S. Treasury securities

$

11,740

$

$

11,740

$

U.S. Government Agency securities

 

893

 

 

893

 

Municipal securities

 

13,366

 

 

13,218

 

148

Mortgage-backed securities and collateralized mortgage obligations

 

10,001

 

 

10,001

 

Corporate securities

 

7,031

 

 

7,031

 

$

43,031

$

$

42,883

$

148

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

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

  ​ ​ ​

Municipal Securities

(In thousands)

2026

2025

 

Balance of recurring Level 3 assets at January 1

$

148

$

Transfers into Level 3

 

 

Balance of recurring Level 3 assets at March 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

March 31, 2026:

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Financial assets:

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Cash and cash equivalents

$

7,206

$

7,206

$

$

$

7,206

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

 

43,031

 

 

42,883

 

148

 

43,031

Federal Home Loan Bank of New York stock, at cost

 

3,254

 

 

3,254

 

 

3,254

Federal Reserve Bank stock, at cost

270

270

270

Loans, net of allowance for credit losses of $2,001

 

233,334

 

 

 

222,957

 

222,957

Accrued interest receivable

 

1,603

 

1,603

 

 

 

1,603

Financial liabilities:

 

 

 

 

 

  ​

Deposits

 

240,853

 

86,246

 

144,293

 

 

230,539

Federal Home Loan Bank advances

 

34,567

 

 

35,987

 

 

35,987

Accrued interest payable

 

115

 

115

 

 

 

115

Advances from borrowers for taxes and insurance

 

1,938

 

1,938

 

 

 

1,938

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

Schedule of assets measured at fair value on a nonrecurring basis

(In thousands)

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

 

March 31, 2026:

Collateral-dependent loans

$

2,413

$

$

$

2,413

$

2,413

$

$

$

2,413

December 31, 2025:

Collateral-dependent loans

$

2,259

$

$

$

2,259

$

2,259

$

$

$

2,259

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%-50%

(26%) 2026

 

of collateral or

 

adjustments

10%-55%

 

(26%) 2025

 

asking price less

 

 

selling costs

 

 

Selling costs

 

7%-15%

(10%) 2026

 

7%-14%

(10%) 2025