v3.26.1
Loan Portfolio and Allowance for Credit Losses
 6 Months Ended
Jun. 30, 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 present loans by portfolio segment:
   
June 30, 2026
  
(dollars in thousands)
  
New York and
other states*
    
Florida
    
Total
  
Commercial:
                  
Commercial real estate
  
$
255,042
    
$
50,311
    
$
305,353
  
Other
    
17,086
      
-
      
17,086
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
2,859,864
      
1,634,615
      
4,494,479
  
Home equity loans
    
47,904
      
18,334
      
66,238
  
Home equity lines of credit
    
281,989
      
202,208
      
484,197
  
Installment
    
7,265
      
2,617
      
9,882
  
Total loans, net
  
$
3,469,150
    
$
1,908,085
      
5,377,235
  
Less: Allowance for credit losses on loans
                    
54,082
  
Net loans
                  
$
5,323,153
  

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

   
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 Massachusetts.
At June 30, 2026 and December 31, 2025, the Company had approximately $45.7 million and $41.9 million of real estate construction loans, respectively.  Of the $45.7 million in real estate construction loans at June 30, 2026, approximately $14.5 million are secured by first mortgages to residential borrowers while approximately $31.2 million are to commercial borrowers for residential construction projects.  Of the $41.9 million in real estate construction loans at December 31, 2025, approximately $11.9 million were secured by first mortgages to residential borrowers while approximately $30.0 million were to commercial borrowers for residential construction projects. The vast majority of construction loans were in the Company’s New York market.

Allowance for credit losses on loans

The allowance for credit losses on loans (“ACLL”) reflects management's estimate of expected credit losses over the life of the loan portfolio. The ACLL level is influenced by past events and current conditions, as well as reasonable and supportable forecasts of future economic scenarios. The ACLL level is updated quarterly based on the latest available information and assumptions. During the quarter ended June 30, 2026, the Company enhanced the ACLL calculation as follows:

 
•
The Company updated its prepayment and curtailment assumptions based on recent experience within its portfolio.

The following assumptions and other inputs continue to be applied in the Company’s methodology:

 
•
Use a Discounted Cash Flow Methodology using the probability of default and loss given default approach, and continues to utilize peer data.
 
•
Use a reasonable and supportable forecast period, which is based on a Moody's Baseline Scenario for four quarters.
 
•
Use of reversion period, which is the period after the forecast period when the ACLL factors revert to historical averages, using a four-quarter straight line reversion.
 
•
Use of qualitative considerations, which are adjustments to the ACLL quantitative reserves to account for changes in various internal and external factors that affect the credit quality of the loan portfolio. The qualitative considerations are allocated utilizing a weighted scorecard framework. The qualitative factors utilized continued to be based on regulatory (interagency) guidelines.

The enhancement did not have a material impact on the Company’s financial statements.

The Company recorded a provision for credit losses of $650 thousand for the three months ended June 30, 2026, which is the result of a provision for credit losses on loans of $1.0 million and a $350 thousand benefit for credit losses on unfunded commitments during the three months ended June 30, 2026.  The Company recorded a provision for credit losses of $1.6 million for the six months ended June 30, 2026, which is the result of a provision for credit losses on loans of $1.75 million and a $150 thousand benefit for credit losses on unfunded commitments during the six months ended June 30, 2026.
Activity in the allowance for credit losses on loans by portfolio segment for the three months ended June 30, 2026 and 2025 is summarized as follows:

   
For the three months ended June 30, 2026
  
(dollars in thousands)
    
Commercial
    
Real Estate
Mortgage-
1 to 4 Family
      
Installment
      
Total
  
Balance at beginning of period
  
$
3,133
    
$
49,652
    
$
209
    
$
52,994
  
Loans charged off:
                                
New York and other states*
    
-
      
-
      
8
      
8
  
Florida
    
-
      
-
      
5
      
5
  
Total loan chargeoffs
    
-
      
-
      
13
      
13
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
-
      
72
      
29
      
101
  
Florida
    
-
      
-
      
-
      
-
  
Total recoveries
    
-
      
72
      
29
      
101
  
Net loan (recoveries) charged off
    
-
      
(72
)
    
(16
)
    
(88
)
Provision (credit) for credit losses
    
246
      
831
      
(77
)
    
1,000
  
Balance at end of period
  
$
3,379
    
$
50,555
    
$
148
    
$
54,082
  

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

   
For the three months ended June 30, 2025
  
(dollars in thousands)
    Commercial    
Real Estate
Mortgage-
1 to 4 Family
      
Installment
      
Total
  
Balance at beginning of period
  
$
3,023
      
47,307
      
276
      
50,606
  
Loans charged off:
                                
New York and other states*
    
-
      
17
      
22
      
39
  
Florida
    
-
      
-
      
94
      
94
  
Total loan chargeoffs
    
-
      
17
      
116
      
133
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
-
      
138
      
4
      
142
  
Florida
    
-
      
-
      
-
      
-
  
Total recoveries
    
-
      
138
      
4
      
142
  
Net loan (recoveries) charged off
    
-
      
(121
)
    
112
      
(9
)
Provision for credit losses
    
111
      
449
      
90
      
650
  
Balance at end of period
  
$
3,134
      
47,877
      
254
      
51,265
  

* Includes New York, New Jersey, Vermont and Massachusetts.
Activity in the allowance for credit losses on loans by portfolio segment for the six months ended June 30, 2026 and 2025 is summarized as follows:

   
For the six months ended June 30, 2026
  
(dollars in thousands)
  
Commercial
    
Real Estate
Mortgage-
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
      
-
      
20
      
39
  
Florida
    
-
      
-
      
19
      
19
  
Total loan chargeoffs
    
19
      
-
      
39
      
58
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
-
      
115
      
30
      
145
  
Florida
    
40
      
-
      
-
      
40
  
Total recoveries
    
40
      
115
      
30
      
185
  
Net loans (recoveries) charged off
    
(21
)
    
(115
)
    
9
      
(127
)
Provision (credit) for credit losses
    
277
      
1,545
      
(72
)
    
1,750
  
Balance at end of period
  
$
3,379
    
$
50,555
    
$
148
    
$
54,082
  

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

   
For the six months ended June 30, 2025
  
(dollars in thousands)
  
Commercial
    
Real Estate
Mortgage-
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
      
99
      
47
      
150
  
Florida
    
-
      
-
      
109
      
109
  
Total loan chargeoffs
    
4
      
99
      
156
      
259
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
7
      
179
      
25
      
211
  
Florida
    
315
      
-
      
-
      
315
  
Total recoveries
    
322
      
179
      
25
      
526
  
Net loan (recoveries) charged off
    
(318
)
    
(80
)
    
131
      
(267
)
(Credit) provision for credit losses
    
(604
)
    
1,161
      
193
      
750
  
Balance at end of period
  
$
3,134
      
47,877
      
254
      
51,265
  

* Includes New York, New Jersey, Vermont and Massachusetts.
The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of June 30, 2026 and December 31, 2025:

   
As of June 30, 2026
  
(dollars in thousands)
  
Commercial
Loans
    
1-to-4 Family
Residential
Real Estate
    
Installment
Loans
    
Total
  
Allowance for credit losses on loans:
                        
Ending allowance balance attributable to loans:
                        
Individually evaluated for impairment
  
$
-
    
$
-
    
$
-
    
$
-
  
Collectively evaluated for impairment
    
3,379
      
50,555
      
148
      
54,082
  
                                 
Total ending allowance balance
  
$
3,379
    
$
50,555
    
$
148
    
$
54,082
  
                                 
Loans:
                                
Individually evaluated for impairment
  
$
2,054
    
$
24,885
    
$
47
    
$
26,986
  
Collectively evaluated for impairment
    
320,385
      
5,020,029
      
9,835
      
5,350,249
  
                                 
Total ending loans balance
  
$
322,439
    
$
5,044,914
    
$
9,882
    
$
5,377,235
  

   
As of December 31, 2025
  
(dollars in thousands)
  
Commercial
Loans
    
1-to-4 Family
Residential
Real Estate
    
Installment
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
  

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 Consolidated 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 and six months ended June 30, 2026 and 2025 were as follows:

(In thousands)
  
For the three
months ended
June 30, 2026
  
Balance at April 1, 2026
  
$
2,062
  
Benefit for credit losses
    
(350
)
Balance at June 30, 2026
  
$
1,712
  

(In thousands)
  
For the six
months ended
June 30, 2026
  
Balance at January 1, 2026
  
$
1,862
  
Benefit for credit losses
    
(150
)
Balance at June 30, 2026
  
$
1,712
  

(In thousands)
  
For the three
months ended
June 30, 2025
  
Balance at April 1, 2025
  
$
1,962
  
Provision for credit losses
    
-
  
Balance at June 30, 2025
  
$
1,962
  

(In thousands)
  
For the six
months ended
June 30, 2025
  
Balance at January 1, 2025
  
$
1,762
  
Provision for credit losses
    
200
  
Balance at June 30, 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 June 30, 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 June 30, 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 June 30, 2026
  
   
Term Loans Amortized Cost Basis by Origination Year
  
   
2026
    
2025
    
2024
    
2023
    
2022
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Revolving
Loan
Converted
to Term
    
Total
  
Commercial :
                                                      
Risk rating
                                                      
Pass
  
$
25,224
    
$
47,801
    
$
44,085
    
$
46,802
    
$
62,745
    
$
71,472
    
$
4,306
    
$
-
    
$
302,435
  
Special Mention
    
-
      
-
      
-
      
-
      
578
      
-
      
-
      
-
      
578
  
Substandard
    
-
      
-
      
890
      
-
      
968
      
482
      
-
      
-
      
2,340
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total Commercial Loans
  
$
25,224
    
$
47,801
    
$
44,975
    
$
46,802
    
$
64,291
    
$
71,954
    
$
4,306
    
$
-
    
$
305,353
  
                                                                         
Commercial Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
19
    
$
-
    
$
-
    
$
-
    
$
19
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
19
    
$
-
    
$
-
    
$
-
    
$
19
  
                                                                         
Commercial Other:
                                                                        
Risk rating
                                                                        
Pass
  
$
1,293
    
$
3,898
    
$
1,157
    
$
5,537
    
$
1,084
    
$
644
    
$
3,428
    
$
-
    
$
17,041
  
Special mention
    
-
      
-
      
-
      
45
      
-
      
-
      
-
      
-
      
45
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total Commercial Real Estate Loans
  
$
1,293
    
$
3,898
    
$
1,157
    
$
5,582
    
$
1,084
    
$
644
    
$
3,428
    
$
-
    
$
17,086
  
                                                                         
Other Commercial Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Residential First Mortgage:
                                                                        
Risk rating
                                                                        
Performing
  
$
269,531
    
$
379,682
    
$
288,023
    
$
347,958
    
$
484,828
    
$
2,705,809
    
$
1,638
    
$
-
    
$
4,477,469
  
Nonperforming
    
-
      
-
      
721
      
2,059
      
1,510
      
12,720
      
-
      
-
      
17,010
  
Total First Mortgage:
  
$
269,531
    
$
379,682
    
$
288,744
    
$
350,017
    
$
486,338
    
$
2,718,529
    
$
1,638
    
$
-
    
$
4,494,479
  
                                                                         
Residential First Mortgage Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Home Equity Loans:
                                                                        
Risk rating
                                                                        
Performing
  
$
7,785
    
$
15,822
    
$
4,903
    
$
6,536
    
$
3,989
    
$
26,798
    
$
-
    
$
-
    
$
65,833
  
Nonperforming
    
-
      
-
      
-
      
-
      
66
      
339
      
-
      
-
      
405
  
Total Home Equity Loans:
  
$
7,785
    
$
15,822
    
$
4,903
    
$
6,536
    
$
4,055
    
$
27,137
    
$
-
    
$
-
    
$
66,238
  
                                                                         
Home Equity Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Home Equity Lines of Credit:
                                                                        
Risk rating
                                                                        
Performing
  
$
1,001
    
$
1,802
    
$
2,867
    
$
714
    
$
1,369
    
$
27,757
    
$
446,367
    
$
-
    
$
481,877
  
Nonperforming
    
-
      
-
      
187
      
130
      
-
      
1,822
      
181
      
-
      
2,320
  
Total Home Equity Credit Lines:
  
$
1,001
    
$
1,802
    
$
3,054
    
$
844
    
$
1,369
    
$
29,579
    
$
446,548
    
$
-
    
$
484,197
  
                                                                         
Home Equity Lines of Credit:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Installments:
                                                                        
Risk rating
                                                                        
Performing
  
$
978
    
$
2,591
    
$
1,472
    
$
2,179
    
$
1,052
    
$
676
    
$
881
    
$
-
    
$
9,829
  
Nonperforming
    
-
      
25
      
-
      
-
      
26
      
2
      
-
      
-
      
53
  
Total Installments
  
$
978
    
$
2,616
    
$
1,472
    
$
2,179
    
$
1,078
    
$
678
    
$
881
    
$
-
    
$
9,882
  
                                                                         
Installments Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
4
    
$
1
    
$
18
    
$
9
    
$
7
    
$
-
    
$
-
    
$
39
  
   
$
-
    
$
4
    
$
1
    
$
18
    
$
9
    
$
7
    
$
-
    
$
-
    
$
39
  
Loan Credit Quality

(in thousands)
  
As of December 31, 2025
  
   
Term Loans Amortized Cost Basis by Origination Year
  
   
2025
    
2024
    
2023
    
2022
    
2021
    
Prior
    
Revolving Loans
Amortized Cost
Basis
    
Revolving Loan
Converted to
Term
    
Total
  
Commercial :
                                                      
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 following tables present the aging of the amortized cost in past due loans by loan class and by region as of June 30, 2026 and December 31, 2025:

   
As of June 30, 2026
  
                                     
New York and other states*:
    
30-59
      
60-89
      
90
+
  
Total
              
(dollars in thousands)
  
Days
Past Due
    
Days
Past Due
    
Days
Past Due
    
30+ days
Past Due
    
Current
    
Total
Loans
  
                                           
Commercial:
                                          
Commercial real estate
  
$
637
    
$
-
    
$
1,958
    
$
2,595
    
$
252,447
    
$
255,042
  
Other
    
-
      
-
      
6
      
6
      
17,080
      
17,086
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
3,108
      
1,701
      
7,337
      
12,146
      
2,847,718
      
2,859,864
  
Home equity loans
    
-
      
-
      
232
      
232
      
47,672
      
47,904
  
Home equity lines of credit
    
438
      
8
      
1,089
      
1,535
      
280,454
      
281,989
  
Installment
    
3
      
2
      
26
      
31
      
7,234
      
7,265
  
                                                 
Total
  
$
4,186
    
$
1,711
    
$
10,648
    
$
16,545
    
$
3,452,605
    
$
3,469,150
  

Florida:
    
30-59
      
60-89
      
90
+
  
Total
              
(dollars in thousands)
  
Days
Past Due
    
Days
Past Due
    
Days
Past Due
    
30+ days
Past Due
    
Current
    
Total
Loans
  
                                           
Commercial:
                                          
Commercial real estate
  
$
64
    
$
-
    
$
-
    
$
64
    
$
50,247
    
$
50,311
  
Other
    
-
      
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
2,224
      
910
      
1,229
      
4,363
      
1,630,252
      
1,634,615
  
Home equity loans
    
-
      
15
      
-
      
15
      
18,319
      
18,334
  
Home equity lines of credit
    
235
      
150
      
247
      
632
      
201,576
      
202,208
  
Installment
    
15
      
-
      
-
      
15
      
2,602
      
2,617
  
                                                 
Total
  
$
2,538
    
$
1,075
    
$
1,476
    
$
5,089
    
$
1,902,996
    
$
1,908,085
  

Total:
    
30-59
      
60-89
      
90
+
  
Total
              
(dollars in thousands)
  
Days
Past Due
    
Days
Past Due
    
Days
Past Due
    
30+ days
Past Due
    
Current
    
Total
Loans
  
                                           
Commercial:
                                          
Commercial real estate
  
$
701
    
$
-
    
$
1,958
    
$
2,659
    
$
302,694
    
$
305,353
  
Other
    
-
      
-
      
6
      
6
      
17,080
      
17,086
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
5,332
      
2,611
      
8,566
      
16,509
      
4,477,970
      
4,494,479
  
Home equity loans
    
-
      
15
      
232
      
247
      
65,991
      
66,238
  
Home equity lines of credit
    
673
      
158
      
1,336
      
2,167
      
482,030
      
484,197
  
Installment
    
18
      
2
      
26
      
46
      
9,836
      
9,882
  
                                                 
Total
  
$
6,724
    
$
2,786
    
$
12,124
    
$
21,634
    
$
5,355,601
    
$
5,377,235
  

* Includes New York, New Jersey, Vermont and Massachusetts.
   
As of December 31, 2025
  
                                     
New York and other states*:
    
30-59
      
60-89
      
90
+
  
Total
              
(dollars in thousands)
  
Days
Past Due
    
Days
Past Due
    
Days
Past Due
    
30+ days
Past Due
    
Current
    
Total
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
              
(dollars in thousands)
  
Days
Past Due
    
Days
Past Due
    
Days
Past Due
    
30+ days
Past Due
    
Current
    
Total
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
              
(dollars in thousands)
  
Days
Past Due
    
Days
Past Due
    
Days
Past Due
    
30+ days
Past Due
    
Current
    
Total
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.

At June 30, 2026 and December 31, 2025, 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.
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.  As of June 30, 2026 other real estate owned included $1.2 million of commercial and residential foreclosed properties.  In addition, non-accrual residential mortgage loans that are in the process of foreclosure had an amortized cost of $9.1 million as of June 30, 2026.  As of December 31, 2025 other real estate owned included $1.4 million of residential and commercial foreclosed properties.  In addition, non-accrual residential mortgage loans that are in the process of foreclosure had an amortized cost of $9.1 million as of December 31, 2025.

Loans individually evaluated for impairment are non-accrual residential loans delinquent greater than 180 days, non-accrual commercial loans, as well as loans classified as loan modifications. As of June 30, 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 June 30, 2026
  
(dollars in thousands)
  
New York and
other states*
    
Florida
    
Total
  
Loans in non-accrual status:
                  
Commercial:
                  
Commercial real estate
  
$
1,958
    
$
-
    
$
1,958
  
Other
    
6
      
-
      
6
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
13,059
      
3,951
      
17,010
  
Home equity loans
    
401
      
4
      
405
  
Home equity lines of credit
    
1,883
      
437
      
2,320
  
Installment
    
37
      
16
      
53
  
Total nonperforming loans
  
$
17,344
    
$
4,408
    
$
21,752
  

* 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 June 30, 2026 and December 31, 2025:

   
As of June 30, 2026
  
 
(dollars in thousands)
  
Non-accrual With
No Allowance for
Credit Loss

Non-accrual With
Allowance for
Credit Loss

Loans Past Due
Over 89 Days
Still Accruing
  
Commercial:
                  
Commercial real estate
  
$
1,958
    
$
-
      
-
  
Other
    
6
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
15,900
      
1,110
      
-
  
Home equity loans
    
405
      
-
      
-
  
Home equity lines of credit
    
2,208
      
112
      
-
  
Installment
    
50
      
3
      
-
  
Total
  
$
20,527
    
$
1,225
      
-
  

   
As of December 31, 2025
  
 
(dollars in thousands)
  
Non-accrual With
No Allowance for
Credit Loss
    
Non-accrual With
Allowance for
Credit Loss
    
Loans Past Due
Over 89 Days
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
  
$
18,765
    
$
1,907
      
-
  

The non-accrual balance of $1.2 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 June 30, 2026 and December 31, 2025, respectively.
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 June 30, 2026 and December 31, 2025:

   
As of June 30, 2026
Type of Collateral
  
(dollars in thousands)
                  
   
Real Estate
    
Investment
Securities/Cash
    
Other
  
Commercial:
                  
Commercial real estate
  
$
2,048
    
$
-
    
$
-
  
Other
    
-
      
-
      
6
  
Real estate mortgage - 1 to 4 family:
    
-
      
-
      
-
  
First mortgages
    
21,646
      
-
      
-
  
Home equity loans
    
496
      
-
      
-
  
Home equity lines of credit
    
2,743
      
-
      
-
  
Installment
    
-
      
-
      
47
  
Total
  
$
26,933
    
$
-
    
$
53
  

   
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 and six months ended June 30, 2026 and 2025.
As of June 30, 2026 and December 31, 2025 loans individually evaluated included approximately $6.4 million and $7.0 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, an 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 June 30, 2026 and 2025 that were both experiencing financial difficulty and modified during the three and six months ended June 30, 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*:
  
June 30, 2026
    
June 30, 2025
  
 
(dollars in thousands)
Payment
Delay

% of Total Class
of Loans

Payment
Delay

% of Total Class
of Loans
 
                        
Commercial:
                        
Commercial real estate
  
$
-
      
-
    
$
-
      
-
  
Other
    
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
    
-
      
-
      
-
      
-
  
First mortgages
    
803
      
0.03
%
    
319
      
0.01
%
Home equity loans
    
-
      
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
  
 
                                
Total
  
$
803
      
0.02
%
  
$
319
      
0.00
%

Florida:
                                
 
(dollars in thousands)
Payment
Delay

% of Total Class
of Loans

Payment
Delay

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

Total
                        
 
(dollars in thousands)
Payment
Delay

% of Total Class
of Loans

Payment
Delay

% of Total Class
of Loans
 
                        
Commercial:
                        
Commercial real estate
  
$
-
      
-
    
$
-
      
-
  
Other
    
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                
First mortgages
    
803
      
0.02
%
    
319
      
0.01
%
Home equity loans
    
-
      
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
  
 
                                
Total
  
$
803
      
0.01
%
  
$
319
      
0.01
%

* Includes New York, New Jersey, Vermont and Massachusetts.
For the six months ended:
  
 
                        
New York and other states*:
  
June 30, 2026
    
June 30, 2025
  
 
(dollars in thousands)
Payment
Delay

% of Total Class
of Loans

Payment
Delay

% of Total Class
of Loans
 
                        
Commercial:
                        
Commercial real estate
  
$
-
      
-
    
$
-
      
-
  
Other
    
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
    
-
      
-
      
-
      
-
  
First mortgages
    
803
      
0.03
%
    
394
      
0.01
%
Home equity loans
    
-
      
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
122
      
0.05
%
Installment
    
-
      
-
      
-
      
-
  
 
                                
Total
  
$
803
      
-
    
$
516
      
0.02
%

Florida:
                        
 
(dollars in thousands)
Payment
Delay

% of Total Class
of Loans

Payment
Delay

% of Total Class
of Loans
 
                        
Commercial:
                        
Commercial real estate
  
$
-
      
-
    
$
-
      
-
  
Other
    
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
            
-
              
-
  
First mortgages
    
271
      
0.02
%
    
-
      
-
  
Home equity loans
    
-
      
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
  
 
                                
Total
  
$
271
      
0.01
%
  
$
-
      
-
  

Total
                                
 
(dollars in thousands)
Payment
Delay

% of Total Class
of Loans

Payment
Delay

% of Total Class
of Loans
 
                                
Commercial:
                                
Commercial real estate
  
$
-
      
-
    
$
-
      
-
  
Other
    
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                
First mortgages
    
1,074
      
0.02
%
    
394
      
0.01
%
Home equity loans
    
-
      
-
      
-
          
Home equity lines of credit
    
-
      
-
      
122
      
0.00
%
Installment
    
-
      
-
      
-
      
-
  
 
                                
Total
  
$
1,074
      
0.02
%
  
$
516
      
0.01
%

* 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 June 30, 2026 and 2025:

 
        
As of June 30, 2026
  
 
                              
New York and other states*:

Current

30-59
Days
Past Due

60-89
Days
Past Due

90+
Days
Past Due




Total
 
(dollars in thousands)
 
                                    
Commercial:
                                    
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
568
      
-
      
-
      
235
      
803
  
Home equity loans
    
-
      
-
      
-
              
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
      
-
  
 
                                        
Total
  
$
568
    
$
-
    
$
-
    
$
235
    
$
803
  

Florida:
    
Current

30-59
Days
Past Due

60-89
Days
Past Due

90+
Days
Past Due




Total
 
(dollars in thousands)
 
                                        
Commercial:
                                        
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
              
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
1,014
      
-
      
-
      
-
      
1,014
  
Home equity loans
    
-
      
-
      
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
      
-
  
 
                                        
Total
  
$
1,014
    
$
-
    
$
-
    
$
-
    
$
1,014
  

Total

Current

30-59
Days
Past Due

60-89
Days
Past Due

90+
Days
Past Due



Total
 
(dollars in thousands)
 
                                        
Commercial:
                                        
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
1,582
      
-
      
-
      
235
      
1,817
  
Home equity loans
    
-
      
-
      
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
      
-
  
 
                                        
Total
  
$
1,582
    
$
-
    
$
-
    
$
235
    
$
1,817
  

* Includes New York, New Jersey, Vermont and Massachusetts.
 
        
As of June 30, 2025
  
 
                              
New York and other states*:

Current

30-59
Days
Past Due

60-89
Days
Past Due

90+
Days
Past Due




Total
 
(dollars in thousands)
 
                                    
Commercial:
                                    
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
393
      
-
      
-
      
80
      
473
  
Home equity loans
    
18
      
-
      
-
              
18
  
Home equity lines of credit
    
122
      
126
      
-
      
-
      
248
  
Installment
    
-
      
-
      
-
      
-
      
-
  
 
                                        
Total
  
$
533
    
$
126
    
$
-
    
$
80
    
$
739
  

Florida:

Current

30-59
Days
Past Due

60-89
Days
Past Due

90+
Days
Past Due


Total
 
(dollars in thousands)
 
                                        
Commercial:
                                        
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
              
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
-
      
-
      
-
      
-
      
-
  
Home equity loans
    
87
      
-
      
-
      
-
      
87
  
Home equity lines of credit
    
70
      
-
      
-
      
-
      
70
  
Installment
    
-
      
-
      
-
      
-
      
-
  
 
                                        
Total
  
$
157
    
$
-
    
$
-
    
$
-
    
$
157
  

Total

Current

30-59
Days
Past Due

60-89
Days
Past Due

90+
Days
Past Due




Total
 
(dollars in thousands)
 
                                        
Commercial:
                                        
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
393
      
-
      
-
      
80
      
473
  
Home equity loans
    
105
      
-
      
-
      
-
      
105
  
Home equity lines of credit
    
192
      
126
      
-
      
-
      
318
  
Installment
    
-
      
-
      
-
      
-
      
-
  
 
                                        
Total
  
$
690
    
$
126
    
$
-
    
$
80
    
$
896
  

* 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:
  
 
            
 
  
June 30, 2026
    
June 30, 2025
  
 
Weighted
Average
Payment
Delay (Months)

Weighted
Average
Payment
Delay (Months)
New York and other states*:
 
 
 
            
Commercial:
            
Commercial real estate
    
-
      
-
  
Other
    
-
      
-
  
Real estate mortgage - 1 to 4 family:
    
-
      
-
  
First mortgages
    
24
      
24
  
Home equity loans
    
-
      
-
  
Home equity lines of credit
    
-
      
-
  
Installment
    
-
      
-
  
 
                
Total
    
24
      
24
  

 
Weighted
Average
Payment
Delay (Months)

Weighted
Average
Payment
Delay (Months)
Florida:
 
 
 
                
Commercial:
                
Commercial real estate
    
-
      
-
  
Other
    
-
      
-
  
Real estate mortgage - 1 to 4 family:
                
First mortgages
    
-
      
-
  
Home equity loans
    
-
      
-
  
Home equity lines of credit
    
-
      
-
  
Installment
    
-
      
-
  
 
                
Total
    
-
      
-
  

 
Weighted
Average
Payment
Delay (Months)

Weighted
Average
Payment
Delay (Months)
Total
 
 
 
                
Commercial:
                
Commercial real estate
    
-
      
-
  
Other
    
-
      
-
  
Real estate mortgage - 1 to 4 family:
                
First mortgages
    
24
      
24
  
Home equity loans
    
-
      
-
  
Home equity lines of credit
    
-
      
-
  
Installment
    
-
      
-
  
 
                
Total
    
24
      
24
  

* Includes New York, New Jersey, Vermont and Massachusetts.
For the six months ended:
  
 
            
 
  
June 30, 2026
    
June 30, 2025
  
 
Weighted
Average
Payment
Delay (Months)

Weighted
Average
Payment
Delay (Months)
New York and other states*:
 
 
 
            
Commercial:
            
Commercial real estate
    
-
      
-
  
Other
    
-
      
-
  
Real estate mortgage - 1 to 4 family:
    
-
      
-
  
First mortgages
    
24
      
24
  
Home equity loans
    
-
      
-
  
Home equity lines of credit
    
-
      
24
  
Installment
    
-
      
-
  
 
                
Total
    
24
      
48
  

 
Weighted
Average
Payment
Delay (Months)

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

Weighted
Average
Payment
Delay (Months)
Total
 
 
 
                
Commercial:
                
Commercial real estate
    
-
      
-
  
Other
    
-
      
-
  
Real estate mortgage - 1 to 4 family:
                
First mortgages
    
20
      
24
  
Home equity loans
    
-
      
-
  
Home equity lines of credit
    
-
      
24
  
Installment
    
-
      
-
  
 
                
Total
    
20
      
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 1 loan modification totaling $235 thousand for a residential mortgage modification that defaulted during the three and six months ended June 30, 2026 which had been classified as a loan modification within the prior twelve months.  There was 1 loan modification totaling $80 thousand for residential mortgages and 1 home equity line of credit loan modification totaling $126 thousand that defaulted during the three months ended June 30, 2025 which had been classified as a loan modification within the prior twelve months.  There was 1 loan modification totaling $80 thousand for residential mortgages and 2 home equity line of credit loan modifications totaling $247 thousand that defaulted during the six months ended June 30, 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.