| Summary of fair value of assets and liabilities |
The following table summarizes the fair value of assets and liabilities as of December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2025, Using | | | | | Quoted Prices
in Active
Markets for
Identical Assets | | Significant Other
Observable
Inputs | | Significant
Unobservable
Inputs | | | Total | | (Level 1) | | (Level 2) | | (Level 3) | | | (In thousands) | | Measured on a recurring basis: | | | | | | | | | | Financial assets | | | | | | | | | | Securities available-for-sale: | | | | | | | | | | U.S. Treasury Notes | | $ | 95,785 | | | $ | 95,785 | | | $ | — | | | $ | — | | | Corporate Bonds | | 40,977 | | | — | | | 40,977 | | | — | | | U.S. Government agency obligations | | 567 | | | 567 | | | — | | | — | | | Obligations issued by U.S. states and their political subdivisions | | 6,115 | | | — | | | 6,115 | | | — | | | Mortgage-backed securities: | | | | | | | | | | Residential | | 138,176 | | | — | | | 138,176 | | | — | | | Multifamily | | 15,691 | | | — | | | 15,691 | | | — | | | Asset-backed securities | | 3,916 | | | — | | | 3,916 | | | — | | | Total securities available-for-sale | | 301,227 | | | 96,352 | | | 204,875 | | | — | | | Derivatives | | 3,573 | | | — | | | 3,573 | | | — | | | Total financial assets measured on a recurring basis | | $ | 304,800 | | | $ | 96,352 | | | $ | 208,448 | | | $ | — | | | Financial Liabilities | | | | | | | | | | Derivatives | | $ | 2,452 | | | $ | — | | | $ | 2,452 | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The following table summarizes the fair value of assets and liabilities as of December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2024, Using | | | | | Quoted Prices
in Active
Markets for
Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | | | Total | | (Level 1) | | (Level 2) | | (Level 3) | | | (In thousands) | | Measured on a recurring basis: | | | | | | | | | | Financial assets | | | | | | | | | | Securities available-for-sale | | | | | | | | | | U.S. Treasury Notes | | $ | 40,139 | | | $ | 40,139 | | | $ | — | | | $ | — | | | Corporate Bonds | | 73,154 | | | — | | | 73,154 | | | — | | | U.S. Government agency obligations | | 812 | | | 812 | | | — | | | — | | | Obligations issued by U.S. states and their political subdivisions | | 6,024 | | | — | | | 6,024 | | | — | | | Mortgage-backed securities: | | | | | | | | | | Residential | | 149,041 | | | — | | | 149,041 | | | — | | | Multifamily | | 18,743 | | | — | | | 18,743 | | | — | | | Asset-backed securities | | 9,115 | | | — | | | 9,115 | | | — | | | Total securities available-for-sale | | 297,028 | | | 40,951 | | | 256,077 | | | — | | | Derivatives | | 8,817 | | | — | | | 8,817 | | | — | | | Total financial assets measured on a recurring basis | | $ | 305,845 | | | $ | 40,951 | | | $ | 264,894 | | | $ | — | | | Financial Liabilities | | | | | | | | | | Derivatives | | $ | 453 | | | $ | — | | | $ | 453 | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| Summary of carrying amounts and fair value of financial instruments not carried at fair value |
The carrying amounts and fair value of financial instruments not carried at fair value, at December 31, 2025 and December 31, 2024 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2025, Using | | | | Quoted Prices
in Active
Markets for
Identical Assets | | Significant
Other
Observable
Inputs | | Significant
Unobservable
Inputs | | Book Value | | (Level 1) | | (Level 2) | | (Level 3) | | Measured on a non-recurring basis: | (In thousands) | | Financial assets | | | | | | | | | Corporate bonds | $ | 18,600 | | | $ | — | | | $ | 17,593 | | | $ | — | | | Asset-backed securities | 8,507 | | | — | | | 8,035 | | | — | | | Securities held-to-maturity | 27,107 | | | — | | | 25,628 | | | — | | | Loans, net of allowance for credit losses | 1,676,140 | | | — | | | — | | | 1,617,007 | | | Financial liabilities | | | | | | | | | | | | | | | | | Time Deposits | 780,390 | | | — | | | 778,910 | | | — | | | Federal Home Loan Bank advances | $ | 301,000 | | | $ | — | | | $ | 301,189 | | | $ | — | | | | | | | | | | | | | Fair Value Measurements at December 31, 2024, Using | | | | Quoted Prices
in Active
Markets for
Identical Assets | | Significant
Other
Observable
Inputs | | Significant
Unobservable
Inputs | | Book Value | | (Level 1) | | (Level 2) | | (Level 3) | | Measured on a non-recurring basis: | (In thousands) | | Financial assets | | | | | | | | | Corporate bonds | $ | 18,600 | | | $ | — | | | $ | 16,414 | | | $ | — | | | Asset-backed securities | 14,574 | | | — | | | 13,581 | | | — | | | Securities held-to-maturity | 33,174 | | | — | | | 29,995 | | | — | | | Loans, net of allowance for credit losses | 1,570,517 | | | — | | | — | | | 1,468,929 | | | Financial liabilities | | | | | | | | | | | | | | | | | Time Deposits | 707,339 | | | — | | | 705,514 | | | — | | | Federal Home Loan Bank advances | 339,500 | | | — | | | 340,131 | | | — | |
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