BORROWED FUNDS - Narrative (Details) - USD ($) $ in Thousands |
6 Months Ended | |||
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Jun. 10, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
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Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||||
FHLBNY advances | $ 55,000 | $ 109,110 | ||
Weighted average interest rate of fixed rate advances | 4.44% | |||
Eligible borrow (up to) | $ 170,200 | |||
Net of issuance cost | 854 | 0 | ||
Proceeds from subordinated debt | $ 44,100 | 45,000 | $ 0 | |
FHLBNY fixed rate term advances | ||||
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||||
FHLBNY advances | $ 55,000 | |||
Advance term | 2 months | |||
Unused borrowing capacity | $ 115,200 | |||
Subordinated notes, net | ||||
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||||
Aggregate principal amount | $ 45,000 | |||
Fixed rate | 7.75% | 7.75% | ||
Basis rate | 4.15% | |||
Net of issuance cost | $ 900 | |||
Residential mortgages | Asset Pledged as Collateral | ||||
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items] | ||||
Advances were collateralized | $ 248,000 | $ 244,600 |
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- Definition Federal Home Loan Bank, Advance, Branch of FHLBank Advance, Term No definition available.
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- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of unused borrowing capacity under the long-term financing arrangement that is available to the entity as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of advance from Federal Home Loan Bank (FHLBank). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of advances or credit lines available from the Federal Home Loan Bank (FHLB). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Weighted average interest rate on advances made and reported by Federal Home Loan Bank (FHLBank). No definition available.
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- Definition Amortized cost, after allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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