| Schedule of financial assets and financial liabilities measured at fair value on a recurring basis |
Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands): | | | | | | | | | | | | | | | | | | Fair Value Measurements at | | | | | | June 30, 2026 Using | | | | | | | | | Significant | | | | | | | | | Quoted Prices in | | Other | | Significant | | | | | | Active Markets for | | Observable | | Unobservable | | | | | Identical Assets | | Inputs | | Inputs | | | Fair Value | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | | | | | | Available for sale securities: | | | | | | | | | | | | | U.S. Treasury | | | 49,565 | | | 49,565 | | | — | | | — | Mortgage-backed securities: | | | | | | | | | | | | | U.S. Government agency securities | | | 44,776 | | | — | | | 44,776 | | | — | Government-sponsored enterprises | | | 37,156 | | | — | | | 37,156 | | | — | Collateralized mortgage obligations: | | | | | | | | | | | | | U.S. Government agency securities | | | 19,948 | | | — | | | 19,948 | | | — | Government-sponsored enterprises | | | 43,955 | | | — | | | 43,955 | | | — | Municipal obligations | | | 5,496 | | | — | | | 5,496 | | | — | Total available for sale securities | | | 200,896 | | | 49,565 | | | 151,331 | | | — | Trading securities: | | | | | | | | | | | | | Municipal obligations | | $ | 21,984 | | $ | — | | $ | 21,984 | | $ | — | Equity securities | | | 52 | | | 52 | | | — | | | — | Total trading securities | | | 22,036 | | | 52 | | | 21,984 | | | — | Derivative assets (1) | | | 8,724 | | | — | | | 8,724 | | | — | Total | | $ | 231,656 | | $ | 49,617 | | $ | 182,039 | | $ | — | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | Derivative liabilities (1) | | $ | 8,724 | | $ | — | | $ | 8,724 | | $ | — | Short positions: (2) | | | | | | | | | | | | | U.S. Treasury securities | | | 12,411 | | | 12,411 | | | — | | | — | Total | | $ | 21,135 | | $ | 12,411 | | $ | 8,724 | | $ | — |
| | | | | | | | | | | | | | | | | | Fair Value Measurements at | | | | | | December 31, 2025 Using | | | | | | | | | Significant | | | | | | | | | Quoted Prices in | | Other | | Significant | | | | | | Active Markets for | | Observable | | Unobservable | | | | | Identical Assets | | Inputs | | Inputs | | | Fair Value | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | | | | | | Available for sale securities: | | | | | | | | | | | | | U.S. Treasury | | $ | 54,752 | | $ | 54,752 | | $ | — | | $ | — | Mortgage-backed securities: | | | | | | | | | | | | | U.S. Government agency securities | | | 36,704 | | | — | | | 36,704 | | | — | Government-sponsored enterprises | | | 39,783 | | | — | | | 39,783 | | | — | Collateralized mortgage obligations: | | | | | | | | | | | | | U.S. Government agency securities | | | 21,383 | | | — | | | 21,383 | | | — | Government-sponsored enterprises | | | 48,290 | | | — | | | 48,290 | | | — | Municipal obligations | | | 19,519 | | | — | | | 19,519 | | | — | Total available for sale securities | | | 220,431 | | | 54,752 | | | 165,679 | | | — | Derivative assets (1) | | | 7,919 | | | — | | | 7,919 | | | — | Total | | $ | 228,350 | | $ | 54,752 | | $ | 173,598 | | $ | — | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | Derivative liabilities (1) | | $ | 7,919 | | $ | — | | $ | 7,919 | | $ | — | Total | | $ | 7,919 | | $ | — | | $ | 7,919 | | $ | — |
| (1) | Additional information regarding impact of netting derivative assets and derivative liabilities, as well as the impact of offsetting cash collateral can be found in Note 6 – Derivatives. |
| (2) | Included in other liabilities in the consolidated statement of condition. |
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| Schedule of carrying and estimated fair values of financial assets and liabilities |
The carrying and estimated fair values of financial assets and liabilities were as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | June 30, 2026 | | | | | | | | | | Fair Value Measurements Using | | | | | | | | | | | | Significant | | | | | | | | | | | | Quoted Prices in | | Other | | Significant | | | | | Active Markets for | | Observable | | Unobservable | | | Carrying | | Estimated | | Identical Assets | | Inputs | | Inputs | | | Amount | | Fair Value | | (Level 1) | … | (Level 2) | … | (Level 3) | Financial assets | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 94,566 | | $ | 94,566 | | $ | 94,566 | | $ | — | | $ | — | Securities available for sale | | | 200,896 | | | 200,896 | | | 49,565 | | | 151,331 | | | — | Securities held to maturity | | | 44,766 | | | 43,826 | | | — | | | 43,826 | | | — | Trading securities | | | 22,036 | | | 22,036 | | | 52 | | | 21,984 | | | — | FHLBNY and FRBNY stock | | | 4,175 | | | 4,175 | | | — | | | 4,175 | | | — | Net loans receivable | | | 1,870,864 | | | 1,831,157 | | | — | | | — | | | 1,831,157 | Accrued interest receivable | | | 9,432 | | | 9,432 | | | — | | | 9,432 | | | — | Derivative assets (1) | | | 8,724 | | | 8,724 | | | — | | | 8,724 | | | — | | | | | | | | | | | | | | | | | Financial liabilities | | | | | | | | | | | | | | | | Deposits | | | | | | | | | | | | | | | | Savings, money market, and demand accounts | | $ | 1,497,717 | | $ | 1,497,717 | | $ | — | | $ | 1,497,717 | | $ | — | Time deposits | | | 471,233 | | | 470,449 | | | — | | | 470,449 | | | — | Mortgagors’ escrow deposits | | | 12,135 | | | 12,135 | | | — | | | 12,135 | | | — | Derivative liabilities (1) | | | 8,724 | | | 8,724 | | | — | | | 8,724 | | | — | Short positions (2) | | | 12,411 | | | 12,411 | | | 12,411 | | | — | | | — |
| | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | Fair Value Measurements Using | | | | | | | | | | | | Significant | | | | | | | | | | | | Quoted Prices in | | Other | | Significant | | | | | Active Markets for | | Observable | | Unobservable | | | Carrying | | Estimated | | Identical Assets | | Inputs | | Inputs | | | Amount | | Fair Value | | (Level 1) | … | (Level 2) | … | (Level 3) | Financial assets | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 133,675 | | $ | 133,675 | | $ | 133,675 | | $ | — | | $ | — | Securities available for sale | | | 220,431 | | | 220,431 | | | 54,752 | | | 165,679 | | | — | Securities held to maturity | | | 41,521 | | | 40,175 | | | — | | | 40,175 | | | — | FHLBNY and FRBNY stock | | | 6,090 | | | 6,090 | | | — | | | 6,090 | | | — | Net loans receivable | | | 1,646,255 | | | 1,622,637 | | | — | | | — | | | 1,622,637 | Accrued interest receivable | | | 8,889 | | | 8,889 | | | — | | | 8,889 | | | — | Derivative assets (1) | | | 7,919 | | | 7,919 | | | — | | | 7,919 | | | — | | | | | | | | | | | | | | | | | Financial liabilities | | | | | | | | | | | | | | | | Deposits | | | | | | | | | | | | | | | | Savings, money market, and demand accounts | | $ | 1,469,717 | | $ | 1,469,717 | | $ | — | | $ | 1,469,717 | | $ | — | Time deposits | | | 269,461 | | | 268,924 | | | — | | | 268,924 | | | — | Mortgagors’ escrow deposits | | | 9,129 | | | 9,129 | | | — | | | 9,129 | | | — | FHLB advances | | | 50,000 | | | 49,995 | | | — | | | 49,995 | | | — | Derivative liabilities (1) | | | 7,919 | | | 7,919 | | | — | | | 7,919 | | | — |
| (1) | Additional information regarding impact of netting derivative assets and derivative liabilities, as well as the impact of offsetting cash collateral can be found in Note 6 – Derivatives. |
| (2) | Included in other liabilities in the consolidated statement of condition. |
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