v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ 7,269,000 $ 4,931,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities 70,000 72,000
Net amortization of deferred loan costs 385,000 496,000
Provision for credit losses (180,000) (1,479,000)
Recovery on previously impaired investment securities (4,000) (6,000)
Gains on equity securities (150,000) (54,000)
Gain on sale of securities available for sale (10,000)  
Loss (gain) on disposal of premises and equipment 2,000 (14,000)
Depreciation and amortization of premises and equipment 612,000 739,000
Earnings on bank-owned life insurance (1,148,000) (1,074,000)
Deferred income tax (benefit) expense (101,000) 128,000
ESOP shares committed to be released 263,000 99,000
Stock based compensation expense 295,000 246,000
(Increase) decrease in accrued interest receivable (188,000) 16,000
Decrease (increase) in other assets 595,000 (1,419,000)
Loss on sale of foreclosed real estate   19,000
Increase (decrease) in other liabilities 346,000 (31,000)
Increase in annuity asset (58,000) (161,000)
Net Cash Provided by Operating Activities 7,998,000 2,508,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Activity in debt securities: Sales 17,000  
Activity in debt securities: Maturities, prepayments and calls 3,073,000 3,203,000
Redemptions of Federal Home Loan Bank of New York Stock 484,000 1,136,000
Loan principal collections, originations, and purchases, net (10,979,000) 12,020,000
Proceeds from claims on and surrender of bank-owned life insurance 1,614,000 7,674,000
Purchase of annuity assets   (3,000,000)
Purchase of bank-owned life insurance (2,000,000)  
Proceeds from the sale of equity securities 223,000  
Proceeds from sale of foreclosed real estate 0 42,000
(Additions) and sales of premises and equipment, net (560,000) 41,000
Net Cash (Used in) Provided by Investing Activities (8,128,000) 21,116,000
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the sale of common stock, net of offering costs and ESOP purchase 43,239,000  
Net increase (decrease) in deposits 299,000 (17,946,000)
Net decrease in advances from borrowers for taxes and insurance (179,000) (82,000)
Repayment of long-term debt (10,250,000) (25,000,000)
Repayment of finance lease obligation (101,000) (93,000)
Repurchase of common stock (53,000) (20,000)
Cash dividends paid (1,676,000) (1,082,000)
Net Cash Provided by (Used in) Financing Activities 31,279,000 (44,223,000)
Net Increase (Decrease) in Cash and Cash Equivalents 31,149,000 (20,599,000)
CASH AND CASH EQUIVALENTS - BEGINNING 33,131,000 53,730,000
CASH AND CASH EQUIVALENTS - ENDING 64,280,000 33,131,000
SUPPLEMENTARY CASH FLOWS INFORMATION    
Interest paid 11,760,000 14,471,000
Income taxes paid (U.S. Federal) 1,571,000 990,000
Income taxes paid (NY State) 5,000 5,000
SUPPLEMENTARY SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Unrealized gain (loss) on securities available for sale $ 2,876,000 (726,000)
Accrued purchase of property and equipment   $ 114,000