v3.26.1
BORROWINGS
3 Months Ended
Mar. 31, 2026
BORROWINGS  
BORROWINGS

NOTE 6 — BORROWINGS

Borrowings consisted of the following (in thousands):

Interest Expense

At

At

Three months ended

  ​ ​ ​

March 31, 

December 31, 

  ​ ​ ​

March 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

2026

  ​ ​ ​

2025

Federal funds purchased and securities sold under agreements to repurchase

$

$

$

$

1,410

Federal Home Loan Bank of New York advances

$

$

$

$

2,755

Secured and other borrowings:

Secured borrowings

$

15,975

$

10,975

N.M.

N.M.

N.M. – not meaningful

Federal funds purchased are generally overnight transactions and FHLBNY advances are short-term transactions. At March 31, 2026, the Company had no outstanding Federal funds purchased or FHLBNY advances.

Secured borrowings are loan participation agreements with counterparties where the transfer of the participation interest did not qualify for sale treatment under GAAP.

At March 31, 2026, the Company had cash on deposit with the Federal Reserve Bank of New York and available secured wholesale funding borrowing capacity of $3.7 billion.