v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (Loss) $ 4,096,000 $ 2,975,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Net amortization of investment securities 30,000 36,000
Net amortization of deferred loan costs 215,000 163,000
Provision for credit losses 5,000 48,000
Recovery on previously impaired investment securities 0 (2,000)
Unrealized gain on equity securities   (111,000)
Loss on disposal of premises and equipment   2,000
Depreciation and amortization of premises and equipment 282,000 312,000
Deferred income tax benefit (191,000) (105,000)
Increase in cash surrender value of bank-owned life insurance (491,000) (438,000)
ESOP shares committed to be released 160,000 62,000
Stock based compensation expense 250,000 164,000
Decrease (increase) in accrued interest receivable 43,000 (59,000)
Increase in other assets (289,000) (850,000)
Increase in other liabilities 1,051,000 359,000
Increase in annuity assets (32,000) (46,000)
Net Cash Provided by Operating Activities 5,129,000 2,510,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Activity in debt securities: Maturities, prepayments and calls 2,526,000 1,537,000
Purchases of Federal Home Loan Bank of New York Stock (6,000)  
Redemptions of Federal Home Loan Bank of New York Stock 13,000 394,000
Loan principal collections and origination, net (3,019,000) (7,971,000)
Proceeds from surrender of bank-owned life insurance   651,000
Investment in limited partnership (248,000)  
Additions to premises and equipment (88,000) (536,000)
Net Cash Used In Investing Activities (822,000) (5,925,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 4,963,000 54,521,000
Net increase (decrease) in advances from borrowers for taxes and insurance 113,000 (159,000)
Repayment of long-term debt   (8,250,000)
Repayment of finance lease obligation (54,000) (49,000)
Proceeds from stock options exercised 35,000  
Shares of common stock repurchased on vesting for payroll taxes (82,000) (51,000)
Cash dividends paid (1,325,000) (361,000)
Net Cash Provided by Financing Activities 3,650,000 45,651,000
Net Increase in Cash and Cash Equivalents 7,957,000 42,236,000
CASH AND CASH EQUIVALENTS - BEGINNING 64,280,000 33,131,000
CASH AND CASH EQUIVALENTS - ENDING 72,237,000 75,367,000
SUPPLEMENTARY CASH FLOWS INFORMATION    
Interest paid 4,933,000 5,946,000
Income taxes paid (U.S. Federal) 1,110,000 681,000
SUPPLEMENTARY SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES    
Unrealized (loss) gain on securities available for sale (15,000) $ 288,000
Foreclosed real estate acquired in settlement of loans $ 57,000