v3.26.1
Derivatives
 12 Months Ended
Dec. 31, 2025
Derivatives [Abstract]  
Derivatives
Note 8 – Derivatives
During the year ended December 31, 2025, the Company began utilizing interest rate swap agreements with commercial banking customers to facilitate their interest rate management strategies.  The Company entered into corresponding offsetting derivatives with third parties.  While these derivatives represent economic hedges, they do not qualify as hedges for accounting purposes.
The Company presents derivative position gross on the consolidated statements of financial condition.  The notional amount of the interest rate swaps does not represent amounts exchanged by the parties.  The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements.  The following table presents the amounts recorded on the consolidated statements of financial condition related to the Company’s interest rate swaps.
 
As of December 31, 2025
 
Notional Amount
  
Fair Value
  
Consolidated
Statements of
Financial
Condition
Category
 
(In thousands)
Derivatives in an asset position:
                    
Derivatives not designated as hedging instruments:
                    
Interest rate swaps related to customer loans
  
$
17,000
    
$
105
  
Other Assets
Total derivatives in an asset position
  
$
17,000
    
$
105
    
                                           
Derivatives in a liability position:
                                      
Derivatives not designated as hedging instruments:
                                      
Interest rate swaps related to customer loans
  
$
17,000
    
$
105
    
Total derivatives in a liability position
  
$
17,000
    
$
105
   Accrued Expenses and Other Liabilities

The following table presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations.
 
For the Year Ended December 31, 2025
  
 
Location of Gain/Loss
Recognized on Derivatives on
Consolidated Statement of
Operations
  
Amount of Gain/Loss
Recognized on Derivatives
  
(In thousands)  
 		     
Derivatives not designated as hedging instruments:
        
Interest rate swaps related to customer loans
Unrealized gain/loss
 
$
 -
 		 

During the year ended December 31, 2025, the Company also recognized $194 thousand in swap fees in Other Income on the Consolidated Statement of Operations.