Loan Portfolio and Allowance for Credit Losses

3 Months Ended

Mar. 31, 2026

Loan Portfolio and Allowance for Credit Losses [Abstract]

Loan Portfolio and Allowance for Credit Losses

(5) Loan Portfolio and Allowance for Credit Losses

The following tables presents loans by portfolio segment:

	March 31, 2026
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	248,332	$	49,848	$	298,180
Other		18,148		435		18,583
Real estate mortgage - 1 to 4 family:
First mortgages		2,820,269		1,612,456		4,432,725
Home equity loans		47,642		17,544		65,186
Home equity lines of credit		268,011		196,876		464,887
Installment		7,664		2,953		10,617
Total loans, net	$	3,410,066	$	1,880,112		5,290,178
Less: Allowance for credit losses on loans						52,994
Net loans					$	5,237,184

*Includes New York, New Jersey, Vermont and Massachussetts.

	December 31, 2025
(dollars in thousands)	New York and
	other states*		Florida		Total
Commercial:
Commercial real estate	$	245,799	$	49,308	$	295,107
Other		17,841		495		18,336
Real estate mortgage - 1 to 4 family:
First mortgages		2,794,515		1,604,709		4,399,224
Home equity loans		46,421		17,615		64,036
Home equity lines of credit		265,060		199,141		464,201
Installment		8,497		3,059		11,556
Total loans, net	$	3,378,133	$	1,874,327		5,252,460
Less: Allowance for credit losses on loans						52,205
Net loans					$	5,200,255

*Includes New York, New Jersey, Vermont and Massachussetts.

As of March 31, 2026, the Company had approximately $44.0 million of real estate construction loans. Of the $44.0 million in real estate construction loans as of March 31, 2026, approximately $14.4 million are secured by first mortgages to residential borrowers while approximately $29.6 million were to commercial borrowers for residential construction projects. The majority of construction loans are in the Company’s New York market.

At December 31, 2025, the Company had approximately $41.9 million of real estate construction loans. Of the $41.9 million in real estate construction loans at December 31, 2025, approximately $11.9 million are secured by first mortgages to residential borrowers while approximately $30.0 million were to commercial borrowers for residential construction projects. The majority of construction loans held in 2025 were in the Company’s New York market.

Allowance for credit losses on loans

The level of the allowance for credit losses on loans (“ACLL”) is based on factors that influence management’s current estimate of expected credit losses, including past events and current conditions. There were no changes in the Company’s methodology for the allowance for credit losses on loans for the period ended March 31, 2026. The Company selected the baseline economic forecast for the allowance for credit losses on loans based on current market conditions and portfolio trends. In addition, the Company’s four quarter forecast period and four quarter straight line reversion has not changed for the period ended March 31, 2026.

The Company recorded a provision for credit losses of $950 thousand for the three months ended March 31, 2026, which is the result of a provision for credit losses on loans of $750 thousand and a provision for credit losses on unfunded commitments of $200 thousand.

The Company recorded a provision for credit losses of $300 thousand for the three months ended March 31, 2025, which is the result of a provision for credit losses on loans of $100 thousand, and a provision for credit losses on unfunded commitments of $200 thousand.

Activity in the allowance for credit losses on loans by portfolio segment for the three months ended March 31, 2026 and 2025 is summarized as follows:

	For the three months ended March 31, 2026
(dollars in thousands)				Real Estate
				Mortgage-
	Commercial			1 to 4 Family			Installment		Total
Balance at beginning of period	$	3,081		$	48,895		$	229	$	52,205
Loans charged off:
New York and other states*		19			-			12		31
Florida		-			-			14		14
Total loan chargeoffs		19			-			26		45

Recoveries of loans previously charged off:
New York and other states*		-			43			1		44
Florida		40			-			-		40
Total recoveries		40			43			1		84
Net loan (recoveries) charged off		(21	)		(43	)		25		(39	)
Provision for credit losses		31			714			5		750
Balance at end of period	$	3,133		$	49,652		$	209	$	52,994

* Includes New York, New Jersey, Vermont and Massachusetts.

	For the three months ended March 31, 2025
(dollars in thousands)				Real Estate
				Mortgage-
	Commercial			1 to 4 Family		Installment		Total
Balance at beginning of period	$	3,420			46,636		192		50,248
Loans charged off:
New York and other states*		4			80		25		109
Florida		-			-		15		15
Total loan chargeoffs		4			80		40		124

Recoveries of loans previously charged off:
New York and other states*		6			41		21		68
Florida		314			-		-		314
Total recoveries		320			41		21		382
Net loan recoveries		(316	)		39		19		(258	)
(Credit) provision for credit losses		(713	)		710		103		100
Balance at end of period	$	3,023			47,307		276		50,606

* Includes New York, New Jersey, Vermont and Massachusetts.

The Company’s allowance for credit losses on unfunded commitments is recognized as a liability (included within the Accrued expenses and other liabilities line item within the Statement of Financial Condition) with adjustments to the reserve recognized in provision for credit losses in the consolidated statements of income. The Company’s activity in the allowance for credit losses on unfunded commitments for the three months ended March 31, 2026 and 2025 is as follows:

	For the three
	months ended
(In thousands)	March 31, 2026

Balance at December 31, 2025	$	1,862
Provision for credit losses		200
Balance at March 31, 2026	$	2,062

	For the three
	months ended
(In thousands)	March 31, 2025

Balance at December 31, 2025	$	1,762
Provision for credit losses		200
Balance at March 31, 2025	$	1,962

Loan Credit Quality

The Company categorizes commercial loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. On at least an annual basis, the Company’s loan grading process analyzes non-homogeneous loans, such as commercial loans and commercial real estate loans, individually by grading the loans based on credit risk. The loan grades assigned to all loan types are tested by the Company’s internal loan review department in accordance with the Company’s internal loan review policy.

The Company uses the following definitions for classified loans:

Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date.

Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as such have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.

Doubtful: Loans classified as doubtful have all the weaknesses inherent in those loans classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

Loans not meeting the criteria above are considered to be “pass” rated loans.

For homogeneous loan pools, such as residential mortgages, home equity lines of credit, and installment loans, the Company uses payment status to identify the credit risk in these loan portfolios. Payment status is reviewed on a daily basis by the Bank’s collection area and on a monthly basis with respect to determining the adequacy of the allowance for credit losses on loans. The payment status of these homogeneous pools as of March 31, 2026 and December 31, 2025 is also included in the aging of the past due loans table. Nonperforming loans shown in the table below were loans on nonaccrual status and loans over 90 days past due and accruing.

As of March 31, 2026 and December 31, 2025, based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs for each loan type by origination year was as follows:

Loan Credit Quality
(in thousands)	As of March 31, 2026
	Term Loans Amortized Cost Basis by Origination Year
Commercial :	2026		2025		2024		2023		2022		Prior		Revolving Loans Amortized Cost Basis		Revolving Loan Converted to Term		Total
Risk rating
Pass	$	10,605	$	47,474	$	46,897	$	48,227	$	63,528	$	74,273	$	4,061	$	-	$	295,065
Special Mention		-		-		-		-		584		-		-		-		584
Substandard		-		-		890		-		969		672		-		-		2,531
Doubtful		-		-		-		-		-		-		-		-		-
Total Commercial Loans	$	10,605	$	47,474	$	47,787	$	48,227	$	65,081	$	74,945	$	4,061	$	-	$	298,180

Commercial Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	19	$	-	$	-	$	-	$	19
	$	-	$	-	$	-	$	-	$	19	$	-	$	-	$	-	$	19

Commercial Other:
Risk rating
Pass	$	1,334	$	4,251	$	1,192	$	6,104	$	1,170	$	467	$	3,971	$	-	$	18,489
Special mention		-		-		-		45		-		-		-		-		45
Substandard		-		-		9		-		-		-		40		-		49
Doubtful		-		-		-		-		-		-		-		-		-
Total Commercial Real Estate Loans	$	1,334	$	4,251	$	1,201	$	6,149	$	1,170	$	467	$	4,011	$	-	$	18,583

Other Commercial Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Residential First Mortgage:
Risk rating
Performing	$	110,099	$	388,811	$	297,056	$	359,822	$	493,884	$	2,764,516	$	1,784	$	-	$	4,415,972
Nonperforming		-		-		722		1,714		1,257		13,060		-		-		16,753
Total First Mortgage:	$	110,099	$	388,811	$	297,778	$	361,536	$	495,141	$	2,777,576	$	1,784	$	-	$	4,432,725

Residential First Mortgage Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Home Equity Loans:
Risk rating
Performing	$	3,858	$	17,251	$	5,001	$	6,645	$	4,100	$	27,921	$	-	$	-	$	64,776
Nonperforming		-		-		-		-		66		344		-		-		410
Total Home Equity Loans:	$	3,858	$	17,251	$	5,001	$	6,645	$	4,166	$	28,265	$	-	$	-	$	65,186

Home Equity Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Home Equity Lines of Credit:
Risk rating
Performing	$	594	$	2,345	$	3,045	$	1,146	$	1,337	$	23,383	$	430,766	$	-	$	462,616
Nonperforming		-		-		94		129		-		1,776		272		-		2,271
Total Home Equity Credit Lines:	$	594	$	2,345	$	3,139	$	1,275	$	1,337	$	25,159	$	431,038	$	-	$	464,887

Home Equity Lines of Credit:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Installments:
Risk rating
Performing	$	423	$	2,942	$	1,668	$	2,700	$	1,290	$	633	$	898	$	-	$	10,554
Nonperforming		-		23		-		-		38		1		1		-		63
Total Installments	$	423	$	2,965	$	1,668	$	2,700	$	1,328	$	634	$	899	$	-	$	10,617

Installments Loans:
Current-period Gross writeoffs	$	-	$	4	$	1	$	18	$	2	$	1	$	-	$	-	$	26
	$	-	$	4	$	1	$	18	$	2	$	1	$	-	$	-	$	26

Loan Credit Quality
(in thousands)	As of December 31, 2025
	Term Loans Amortized Cost Basis by Origination Year
Commercial :	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Revolving Loan Converted to Term		Total
Risk rating
Pass	$	47,620	$	47,818	$	49,673	$	65,902	$	21,050	$	55,543	$	4,694	$	-	$	292,300
Special Mention		-		-		-		237		-		-		-		-		237
Substandard		-		890		-		990		-		690		-		-		2,570
Doubtful		-		-		-		-		-		-		-		-		-
Total Commercial Loans	$	47,620	$	48,708	$	49,673	$	67,129	$	21,050	$	56,233	$	4,694	$	-	$	295,107

Commercial Loans:	$	-	$	-	$	-	$	-	$	4	$	-	$	-	$	-	$	4
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	4	$	-	$	-	$	-	$	4

Commercial Other:
Risk rating
Pass	$	4,453	$	1,322	$	6,346	$	1,228	$	136	$	1,218	$	3,538	$	-	$	18,241
Special mention		-		-		-		-		-		-		45		-		45
Substandard		-		10		-		-		1		-		39		-		50
Doubtful		-		-		-		-		-		-		-		-		-
Total Commercial Real Estate Loans	$	4,453	$	1,332	$	6,346	$	1,228	$	137	$	1,218	$	3,622	$	-	$	18,336

Other Commercial Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Residential First Mortgage:
Risk rating
Performing	$	382,926	$	307,952	$	366,470	$	499,812	$	757,834	$	2,066,631	$	1,653	$	-	$	4,383,278
Nonperforming		-		171		1,213		1,202		1,636		11,724		-		-		15,946
Total First Mortgage:	$	382,926	$	308,123	$	367,683	$	501,014	$	759,470	$	2,078,355	$	1,653	$	-	$	4,399,224

Residential First Mortgage Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	99	$	-	$	-	$	99
	$	-	$	-	$	-	$	-	$	-	$	99	$	-	$	-	$	99

Home Equity Loans:
Risk rating
Performing	$	17,600	$	5,386	$	7,138	$	4,384	$	5,328	$	23,770	$	-	$	-	$	63,606
Nonperforming		-		-		-		66		-		364		-		-		430
Total Home Equity Loans:	$	17,600	$	5,386	$	7,138	$	4,450	$	5,328	$	24,134	$	-	$	-	$	64,036

Home Equity Lines Loans:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Home Equity Credit Lines:
Risk rating
Performing	$	1,718	$	3,985	$	1,471	$	1,196	$	1,504	$	19,145	$	432,926	$	-	$	461,945
Nonperforming		-		-		-		-		-		1,879		377		-		2,256
Total Home Equity Credit Lines:	$	1,718	$	3,985	$	1,471	$	1,196	$	1,504	$	21,024	$	433,303	$	-	$	464,201

Home Equity Lines of Credit:
Current-period Gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Installments:
Risk rating
Performing	$	3,089	$	1,973	$	3,191	$	1,542	$	257	$	561	$	892	$	-	$	11,505
Nonperforming		-		-		4		46		-		1		-		-		51
Total Installments	$	3,089	$	1,973	$	3,195	$	1,588	$	257	$	562	$	892	$	-	$	11,556

Installments Loans:
Current-period Gross writeoffs	$	9	$	102	$	17	$	20	$	27	$	42	$	-	$	-	$	217
	$	9	$	102	$	17	$	20	$	27	$	42	$	-	$	-	$	217

The Company transfers loans to other real estate owned, at fair value less cost to sell, in the period the Company obtains physical possession of the property (through foreclosure or through a deed in lieu). Other real estate owned is included in other assets on the Consolidated Statements of Financial Condition. Other real estate owned included $1.0 million and $1.0 million of commercial foreclosed properties, and $328 thousand and $358 thousand of residential foreclosed properties as of March 31, 2026 and December 31, 2025, respectively. In addition, non-accrual residential mortgage loans that are in the process of foreclosure had an amortized cost of $9.0 million and $9.1 million as of March 31, 2026 and December 31, 2025, respectively.

The following tables present the aging of the amortized cost in past due loans by loan class and by region as of March 31, 2026 and December 31, 2025:

	As of March 31, 2026
New York and other states*:			30-59		60-89		90+	Total
		Days		Days		Days		30+ days				Total
(dollars in thousands)		Past Due		Past Due		Past Due		Past Due		Current		Loans

Commercial:
Commercial real estate		$	1	$	-	$	1,961	$	1,962	$	246,370	$	248,332
Other			-		-		7		7		18,141		18,148
Real estate mortgage - 1 to 4 family:
First mortgages			3,138		1,269		7,237		11,644		2,808,625		2,820,269
Home equity loans			34		-		232		266		47,376		47,642
Home equity lines of credit			430		151		945		1,526		266,485		268,011
Installment			24		-		24		48		7,616		7,664

Total		$	3,627	$	1,420	$	10,406	$	15,453	$	3,394,613	$	3,410,066

Florida:		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current		Loans

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	49,848	$	49,848
Other		-		-		-		-		435		435
Real estate mortgage - 1 to 4 family:
First mortgages		2,344		153		1,595		4,092		1,608,364		1,612,456
Home equity loans		-		-		-		-		17,544		17,544
Home equity lines of credit		290		-		187		477		196,399		196,876
Installment		23		18		-		41		2,912		2,953

Total	$	2,657	$	171	$	1,782	$	4,610	$	1,875,502	$	1,880,112

Total:		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current		Loans

Commercial:
Commercial real estate	$	1	$	-	$	1,961	$	1,962	$	296,218	$	298,180
Other		-		-		7		7		18,576		18,583
Real estate mortgage - 1 to 4 family:
First mortgages		5,482		1,422		8,832		15,736		4,416,989		4,432,725
Home equity loans		34		-		232		266		64,920		65,186
Home equity lines of credit		720		151		1,132		2,003		462,884		464,887
Installment		47		18		24		89		10,528		10,617

Total	$	6,284	$	1,591	$	12,188	$	20,063	$	5,270,115	$	5,290,178

* Includes New York, New Jersey, Vermont and Massachusetts.

	As of December 31, 2025

New York and other states*:		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current		Loans

Commercial:
Commercial real estate	$	-	$	-	$	1,984	$	1,984	$	243,815	$	245,799
Other		-		-		7		7		17,834		17,841
Real estate mortgage - 1 to 4 family:
First mortgages		3,174		1,790		6,830		11,794		2,782,721		2,794,515
Home equity loans		50		-		266		316		46,105		46,421
Home equity lines of credit		370		176		1,158		1,704		263,356		265,060
Installment		5		32		7		44		8,453		8,497

Total	$	3,599	$	1,998	$	10,252	$	15,849	$	3,362,284	$	3,378,133

Florida:		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current		Loans

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	49,308	$	49,308
Other		-		-		-		-		495		495
Real estate mortgage - 1 to 4 family:
First mortgages		1,683		978		2,149		4,810		1,599,899		1,604,709
Home equity loans		369		-		-		369		17,246		17,615
Home equity lines of credit		671		116		92		879		198,262		199,141
Installment		46		-		22		68		2,991		3,059

Total	$	2,769	$	1,094	$	2,263	$	6,126	$	1,868,201	$	1,874,327

Total:		30-59		60-89		90+	Total
	Days		Days		Days		30+ days				Total
(dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current		Loans

Commercial:
Commercial real estate	$	-	$	-	$	1,984	$	1,984	$	293,123	$	295,107
Other		-		-		7		7		18,329		18,336
Real estate mortgage - 1 to 4 family:
First mortgages		4,857		2,768		8,979		16,604		4,382,620		4,399,224
Home equity loans		419		-		266		685		63,351		64,036
Home equity lines of credit		1,041		292		1,250		2,583		461,618		464,201
Installment		51		32		29		112		11,444		11,556

Total	$	6,368	$	3,092	$	12,515	$	21,975	$	5,230,485	$	5,252,460

* Includes New York, New Jersey, Vermont and Massachusetts.

As of March 31, 2026, there were no loans that were 90 days past due and still accruing interest. As a result, non-accrual loans include all loans 90 days or more past due as well as certain loans less than 90 days past due that were placed on non-accrual status for reasons other than delinquent status. There are no commitments to extend further credit on non-accrual loans or loan modifications to borrowers experiencing financial difficulty.

Loans individually evaluated for impairment are residential non-accrual loans delinquent greater than 180 days, non-accrual commercial loans, as well as loans classified as loan modifications. As of March 31, 2026 and December 31, 2025, there was no allowance for credit losses based on the loans individually evaluated for impairment.

Residential and installment non-accrual loans which are not loan modifications or greater than 180 days delinquent are collectively evaluated to determine the allowance for credit loss.

The following tables present the amortized cost basis in non-accrual loans by portfolio segment:

	As of March 31, 2026
(dollars in thousands)	New York and
	other states*		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	1,961	$	-	$	1,961
Other		7		-		7
Real estate mortgage - 1 to 4 family:
First mortgages		12,966		3,787		16,753
Home equity loans		405		5		410
Home equity lines of credit		1,841		430		2,271
Installment		43		20		63
Total nonperforming loans	$	17,223	$	4,242	$	21,465

* Includes New York, New Jersey, Vermont and Massachusetts.

	As of December 31, 2025
(dollars in thousands)	New York and
	other states*		Florida		Total
Loans in non-accrual status:
Commercial:
Commercial real estate	$	1,983	$	-	$	1,983
Other		7		-		7
Real estate mortgage - 1 to 4 family:
First mortgages		12,241		3,705		15,946
Home equity loans		425		5		430
Home equity lines of credit		1,917		338		2,255
Installment		29		22		51
Total nonperforming loans	$	16,602	$	4,070	$	20,672

* Includes New York, New Jersey, Vermont and Massachusetts.

The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 89 days still accruing as of March 31, 2026 and December 31, 2025:

	As of March 31, 2026
(dollars in thousands)	Non-accrual With		Non-accrual With		Loans Past Due
	No Allowance for		Allowance for		Over 89 Days
	Credit Loss		Credit Loss		Still Accruing
Commercial:
Commercial real estate	$	1,961	$	-		-
Other		7		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		15,313		1,440		-
Home equity loans		410		-		-
Home equity lines of credit		2,062		209		-
Installment		39		24		-
Total loans, net	$	19,792	$	1,673		-

	As of December 31, 2025
(dollars in thousands)	Non-accrual With		Non-accrual With		Loans Past Due
	No Allowance for		Allowance for		Over 89 Days
	Credit Loss		Credit Loss		Still Accruing
Commercial:
Commercial real estate	$	1,983	$	-		-
Other		7		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		14,324		1,622		-
Home equity loans		419		11		-
Home equity lines of credit		2,010		245		-
Installment		22		29		-
Total loans, net	$	18,765	$	1,907		-

The non-accrual balance of $1.7 million and $1.9 million was collectively evaluated and the associated allowance for credit losses on loans was determined not to be material as of March 31, 2026 and December 31, 2025, respectively.

The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of March 31, 2026 and December 31, 2025:

	As of March 31, 2026
(dollars in thousands)			1-to-4 Family
	Commercial		Residential		Installment
	Loans		Real Estate		Loans		Total
Allowance for credit losses on loans:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	-	$	-	$	-	$	-
Collectively evaluated for impairment		3,133		49,652		209		52,994

Total ending allowance balance	$	3,133	$	49,652	$	209	$	52,994

Loans:
Individually evaluated for impairment	$	2,059	$	24,350	$	39	$	26,448
Collectively evaluated for impairment		314,704		4,938,448		10,578		5,263,730

Total ending loans balance	$	316,763	$	4,962,798	$	10,617	$	5,290,178

	As of December 31, 2025
(dollars in thousands)			1-to-4 Family
	Commercial		Residential		Installment
	Loans		Real Estate		Loans		Total
Allowance for credit losses on loans:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	-	$	-	$	-	$	-
Collectively evaluated for impairment		3,081		48,895		229		52,205

Total ending allowance balance	$	3,081	$	48,895	$	229	$	52,205

Loans:
Individually evaluated for impairment	$	2,083	$	23,663	$	22	$	25,768
Collectively evaluated for impairment		311,360		4,903,798		11,534		5,226,692

Total ending loans balance	$	313,443	$	4,927,461	$	11,556	$	5,252,460

A financial asset is considered collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. Expected credit losses for the collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. The following tables present the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of March 31, 2026 and December 31, 2025:

	As of March 31, 2026
	Type of Collateral
(dollars in thousands)
	Real Estate		Investment Securities/Cash		Other
Commercial:
Commercial real estate	$	2,052	$	-	$	-
Other		-		-		7
Real estate mortgage - 1 to 4 family:		-		-		-
First mortgages		21,235		-		-
Home equity loans		501		-		-
Home equity lines of credit		2,614		-		-
Installment		-		-		39
Total	$	26,402	$	-	$	46

	As of December 31, 2025
	Type of Collateral
(dollars in thousands)
	Real Estate		Investment Securities/Cash		Other
Commercial:
Commercial real estate	$	2,076	$	-	$	-
Other		-		-		7
Real estate mortgage - 1 to 4 family:		-		-		-
First mortgages		20,591		-		-
Home equity loans		511		-		-
Home equity lines of credit		2,561		-		-
Installment		-		-		22
Total	$	25,739	$	-	$	29

The Company has not committed to lend additional amounts to customers with outstanding loans that are on non-accrual or loan modifications to borrowers experiencing financial difficulty. Interest income recognized on loans that are individually evaluated was not material during the three months ended March 31, 2026 and 2025.

As of March 31, 2026 and 2025 loans individually evaluated included approximately $6.7 million and $7.1 million, respectively, of loans in accruing status that were identified as loan modifications in accordance with regulatory guidance related to Chapter 7 and 13 bankruptcy loans.

Pursuant to the adoption of ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructuring and Vintage Disclosures (“ASU 2022-02”), a borrower that is experiencing financial difficulty and receives a modification in the form of principal forgiveness, interest rate reduction, an other-than-insignificant payment delay or a term extension in the current period needs to be disclosed.

The following table presents the amortized cost basis of loans at March 31, 2026 and 2025 that were both experiencing financial difficulty and modified during the three months ended March 31, 2026 and 2025, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:

For the three months ended:

New York and other states*:	March 31, 2026				March 31, 2025
	Payment		% of Total Class		Payment		% of Total Class
(dollars in thousands)	Delay		of Loans		Delay		of Loans

Commercial:
Commercial real estate	$	-		-	$	-		-
Other		-		-		-		-
Real estate mortgage - 1 to 4 family:		-		-		-		-
First mortgages		-		-		75		0.00	%
Home equity loans		-		-		-		-
Home equity lines of credit		-		-		122		0.05	%
Installment		-		-		-		-

Total	$	-		-	$	197		0.00	%

Florida:
	Payment		% of Total Class			Payment		% of Total Class
(dollars in thousands)	Delay		of Loans			Delay		of Loans

Commercial:
Commercial real estate	$	-		-		$	-		-
Other		-		-			-		-
Real estate mortgage - 1 to 4 family:				-					-
First mortgages		273		0.02	%		-		-
Home equity loans		-		-			-		-
Home equity lines of credit		-		-			-		-
Installment		-		-			-		-

Total	$	273		0.01	%	$	-		-

Total
	Payment		% of Total Class			Payment		% of Total Class
(dollars in thousands)	Delay		of Loans			Delay		of Loans

Commercial:
Commercial real estate	$	-		-		$	-		-
Other		-		-			-		-
Real estate mortgage - 1 to 4 family:
First mortgages		273		0.01	%		75		0.00	%
Home equity loans		-		-			-		-
Home equity lines of credit		-		-			122		0.03	%
Installment		-		-			-		-

Total	$	273		0.01	%	$	197		0.00	%

* Includes New York, New Jersey, Vermont and Massachusetts.

The Bank closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables present the performance of such loans that have been modified during the last 12 months as of March 31, 2026 and 2025:

			As of March 31, 2026

New York and other states*:			30-59		60-89		90+
			Days		Days		Days
(dollars in thousands)	Current		Past Due		Past Due		Past Due		Total

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	-
Other		-		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		78		-		-		238		316
Home equity loans		-		-		-				-
Home equity lines of credit		-		-		-		-		-
Installment		-		-		-		-		-

Total	$	78	$	-	$	-	$	238	$	316

Florida:			30-59		60-89		90+
			Days		Days		Days
(dollars in thousands)	Current		Past Due		Past Due		Past Due		Total

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	-
Other		-		-		-				-
Real estate mortgage - 1 to 4 family:
First mortgages		1,022		-		-		-		1,022
Home equity loans		-		-		-		-		-
Home equity lines of credit		-		-		-		-		-
Installment		-		-		-		-		-

Total	$	1,022	$	-	$	-	$	-	$	1,022

Total			30-59		60-89		90+
			Days		Days		Days
(dollars in thousands)	Current		Past Due		Past Due		Past Due		Total

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	-
Other		-		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		1,100		-		-		238		1,338
Home equity loans		-		-		-		-		-
Home equity lines of credit		-		-		-		-		-
Installment		-		-		-		-		-

Total	$	1,100	$	-	$	-	$	238	$	1,338

* Includes New York, New Jersey, Vermont and Massachusetts.

			As of March 31 2025

New York and other states*:			30-59		60-89		90+
			Days		Days		Days
(dollars in thousands)	Current		Past Due		Past Due		Past Due		Total

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	-
Other		-		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		78		181		-		80		339
Home equity loans		106		-		-				106
Home equity lines of credit		303		-		122		-		425
Installment		-		-		-		-		-

Total	$	487	$	181	$	122	$	80	$	870

Florida:			30-59		60-89		90+
			Days		Days		Days
(dollars in thousands)	Current		Past Due		Past Due		Past Due		Total

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	-
Other		-		-		-				-
Real estate mortgage - 1 to 4 family:
First mortgages		-		-		-		-		-
Home equity loans		-		-		-		-		-
Home equity lines of credit		-		-		-		-		-
Installment		-		-		-		-		-

Total	$	-	$	-	$	-	$	-	$	-

			30-59		60-89		90+
			Days		Days		Days
(dollars in thousands)	Current		Past Due		Past Due		Past Due		Total

Commercial:
Commercial real estate	$	-	$	-	$	-	$	-	$	-
Other		-		-		-		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		78		181		-		80		339
Home equity loans		106		-		-		-		106
Home equity lines of credit		303		-		122		-		425
Installment		-		-		-		-		-

Total	$	487	$	181	$	122	$	80	$	870

* Includes New York, New Jersey, Vermont and Massachusetts.

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty:

For the three months ended:

	March 31, 2026		March 31, 2025
	Weighted		Weighted
New York and other states*:	Average		Average
	Payment		Payment
	Delay (Months)		Delay (Months)

Commercial:
Commercial real estate		-		-
Other		-		-
Real estate mortgage - 1 to 4 family:		-		-
First mortgages		-		24
Home equity loans		-		-
Home equity lines of credit		-		24
Installment		-		-

Total		-		48

	Weighted		Weighted
Florida:	Average		Average
	Payment		Payment
	Delay (Months)		Delay (Months)

Commercial:
Commercial real estate		-		-
Other		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		7		-
Home equity loans		-		-
Home equity lines of credit		-		-
Installment		-		-

Total		7		-

	Weighted		Weighted
Total	Average		Average
	Payment		Payment
	Delay (Months)		Delay (Months)

Commercial:
Commercial real estate		-		-
Other		-		-
Real estate mortgage - 1 to 4 family:
First mortgages		7		24
Home equity loans		-		-
Home equity lines of credit		-		24
Installment		-		-

Total		7		48

* Includes New York, New Jersey, Vermont and Massachusetts.

The addition of these loan modifications did not have a significant impact on the allowance for credit losses on loans. The nature of the modifications that resulted in them being classified as a loan modification was the borrower modifying their payment terms. There was one loan modification totaling $238 thousand for residential mortgages that defaulted during the three months ended March 31, 2026 which had been classified as a loan modification within the prior twelve months. This loan that defaulted was a payment delay modification. There were three loan modifications totaling $261 thousand for residential mortgages and one home equity line of credit loan totaling $122 thousand that defaulted during the three months ended March 31, 2025 which had been classified as a loan modification within the prior twelve months. These loans that defaulted were all payment delay modifications.

In situations where the Bank considers a loan modification, management determines whether the borrower is experiencing financial difficulty by performing an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s underwriting policy.

Generally, the modification of the terms of loans is the result of the borrower filing for bankruptcy protection. Chapter 13 bankruptcies generally include the deferral of all past due amounts for a period of generally 60 months in accordance with the bankruptcy court order. In the case of Chapter 7 bankruptcies even though there is no modification of terms, the borrowers’ debt to the Company is discharged and they do not reaffirm the debt.

A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In situations involving a borrower filing for Chapter 13 bankruptcy protection, however, a loan is considered to be in payment default once it is 30 days contractually past due, consistent with the treatment by the bankruptcy court.