v3.26.1
LOANS RECEIVABLE, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Summary of loans receivable
A summary of loans receivable, net, at December 31, 2025 and 2024 is as follows:
December 31, 2025December 31, 2024
(In thousands)
Residential $510,583 $518,243 
Multifamily641,027 671,116 
Commercial real estate306,096 259,633 
Construction51,353 85,546 
Junior liens31,008 25,422 
Commercial and industrial24,159 16,311 
Consumer and other126,306 7,211 
Total loans1,690,532 1,583,482 
Less: Allowance for credit losses on loans (1)
14,392 12,965 
Loans receivable, net$1,676,140 $1,570,517 
(1) For more information, see Note 4 - Allowance for Credit Losses.
Schedule of credit quality indicators
The following table presents the risk category of loans by class of loan and vintage as of December 31, 2025:
Term Loans by Origination Year
20252024202320222021Pre-2021Revolving LoansTotal
(in thousands)
Residential
Pass$48,171 $21,836 $12,228 $82,194 $94,621 $246,512 $— $505,562 
Substandard— — — — 330 4,691 — 5,021 
Total48,171 21,836 12,228 82,194 94,951 251,203 — 510,583 
Multifamily
Pass35,008 15,550 16,698 265,813 124,777 177,426 — 635,272 
Substandard— — — 5,319 — 436 — 5,755 
Total35,008 15,550 16,698 271,132 124,777 177,862 — 641,027 
Commercial real estate
Pass71,145 22,901 26,477 113,256 14,182 57,387 — 305,348 
Special mention— — — — — 748 — 748 
Total71,145 22,901 26,477 113,256 14,182 58,135 — 306,096 
Construction
Pass28,401 18,160 — 4,792 — — — 51,353 
Total28,401 18,160 — 4,792 — — — 51,353 
Junior liens
Pass7,691 5,719 4,039 4,995 1,176 7,146 — 30,766 
Substandard— — 59 — 39 144 — 242 
Total7,691 5,719 4,098 4,995 1,215 7,290 — 31,008 
Commercial and industrial
Pass15,263 2,066 4,893 84 1,413 — — 23,719 
Substandard— — 440 — — — — 440 
Total15,263 2,066 5,333 84 1,413 — — 24,159 
Consumer and other
Pass121,081 5,213 — — — — 12 126,306 
Total121,081 5,213 — — — — 12 126,306 
Total gross loans$326,760 $91,445 $64,834 $476,453 $236,538 $494,490 $12 $1,690,532 
The following table presents the risk category of loans by class of loan and vintage as of December 31, 2024:
Term Loans by Origination Year
20242023202220212020Pre-2020Revolving LoansTotal
(in thousands)
Residential
Pass$24,396 $12,941 $90,735 $101,928 $13,851 $269,751 $— $513,602 
Special mention— — — — — 264 — 264 
Substandard— — 225 — — 4,152 — 4,377 
Total24,396 12,941 90,960 101,928 13,851 274,167 — 518,243 
Multifamily
Pass15,690 16,933 272,345 147,322 34,541 178,799 — 665,630 
Special mention— — 5,368 — — — — 5,368 
Substandard— — — — — 118 — 118 
Total15,690 16,933 277,713 147,322 34,541 178,917 — 671,116 
Commercial real estate
Pass35,728 26,636 115,871 14,489 14,633 51,448 — 258,805 
Special mention— — — — — 828 — 828 
Total35,728 26,636 115,871 14,489 14,633 52,276 — 259,633 
Construction
Pass6,300 26,409 35,342 17,495 — — — 85,546 
Total6,300 26,409 35,342 17,495 — — — 85,546 
Junior liens
Pass5,833 4,655 5,154 1,102 222 8,264 — 25,230 
Special mention— — — — — 43 — 43 
Substandard— — — — — 149 — 149 
Total5,833 4,655 5,154 1,102 222 8,456 — 25,422 
Commercial and industrial
Pass7,603 5,730 95 2,305 — — — 15,733 
Substandard (1)— 563 — 15 — — — 578 
Total7,603 6,293 95 2,320 — — — 16,311 
Consumer and other
Pass7,186 — — — — — 25 7,211 
Total7,186 — — — — — 25 7,211 
Total gross loans$102,736 $93,867 $525,135 $284,656 $63,247 $513,816 $25 $1,583,482 
(1)    Balance in 2021 represents PPP loans which carry the federal guarantee of the SBA.
Summary of past due and current loans by loan portfolio class
The following table presents the recorded investment in past due and current loans by loan portfolio class as of December 31, 2025 and 2024:
30-59
Days
Past Due		60-89
Days
Past Due		90 Days
and Greater
Past Due		Total
Past Due		CurrentTotal
Loans
Receivable
(In thousands)
December 31, 2025
Residential $3,183 $44 $4,002 $7,229 $503,354 $510,583 
Multifamily— 1,036 5,669 6,705 634,322 641,027 
Commercial real estate— — — — 306,096 306,096 
Construction— — — — 51,353 51,353 
Junior liens— — 144 144 30,864 31,008 
Commercial and industrial2,001 — — 2,001 22,158 24,159 
Consumer and other— — — — 126,306 126,306 
Total$5,184 $1,080 $9,815 $16,079 $1,674,453 $1,690,532 
December 31, 2024
Residential$3,085 $315 $3,892 $7,292 $510,951 $518,243 
Multifamily303 — — 303 670,813 671,116 
Commercial real estate774 — — 774 258,859 259,633 
Construction— — — — 85,546 85,546 
Junior liens— — 149 149 25,273 25,422 
Commercial and industrial— 563 15 578 15,733 16,311 
Consumer and other— — — — 7,211 7,211 
Total$4,162 $878 $4,056 $9,096 $1,574,386 $1,583,482 
Summary of non-accrual loans
The following table presents information on non-accrual loans at December 31, 2025 and 2024:
December 31, 2025Non-accrualInterest Income Recognized on Non-accrual Loans
Amortized Cost Basis of Loans > 90 Days Past Due and Still Accruing
Amortized Cost Basis of Non-accrual Loans Without Related Allowance
(In thousands)
Residential$5,021 $65 $— $5,021 
Multifamily5,669 — — 5,669 
Junior liens242 13 — 242 
Commercial and industrial440 19 — 440 
Total$11,372 $97 $— $11,372 
December 31, 2024
Residential$4,377 $19 $— $4,377 
Multifamily— 7 — — 
Junior liens149 7 — 149 
Commercial and industrial578 — — 578 
Total$5,104 $33 $— $5,104 
Summary of financing receivable, troubled debt restructuring
The following table presents the amortized cost basis at December 31, 2025, of loan modifications to borrowers experiencing financial difficulty during 2025, disaggregated by type of modification.
Payment DelaysTerm ExtensionsTotal Principal% of Total Class of Loans
(Dollars in thousands)
Residential $280 $— $280 0.05 %
Total$280 $— $280 0.02 %
Types of Modifications
Junior liens
Term extension of 68 months
Commercial and industrial
Deferral of three payments
The following table presents the amortized cost basis at December 31, 2024, of loan modifications to borrowers experiencing financial difficulty during 2024, disaggregated by type of modification.
Payment DelaysTerm ExtensionsTotal Principal% of Total Class of Loans
(Dollars in thousands)
Junior liens$— $43 $43 0.17 %
Commercial and industrial563 — 563 3.45 
Total$563 $43 $606 0.04 %
Types of Modifications
Junior liens
Term extension of 68 months
Commercial and industrial
Deferral of three payments
The Company closely monitors the performance of modified loans to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the payment status and amortized cost basis at December 31, 2025, of loans that were modified during the 12-month period ended December 31, 2025.
Current30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueNon-AccrualTotal
(In thousands)
Residential $280 $— $— $— $— $280 
Total$280 $— $— $— $— $280 
The following table presents the payment status and amortized cost basis at December 31, 2024, of loans that were modified during the 12-month period ended December 31, 2024.
Current30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueNon-AccrualTotal
(In thousands)
Junior liens$43 $— $— $— $— $43 
Commercial and industrial— — — — 563 563 
Total$43 $— $— $— $563 $606