Investment Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investment Securities |
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| Schedule of amortized cost, gross unrealized gains and losses and fair values of available for sale securities |
The amortized cost, gross unrealized gains and losses and fair values of available for sale securities are as follows: | | | | | | | | | | | | | | | June 30, 2026 | | | | | Gross | | Gross | | | | | | | Unrealized | | Unrealized | | | | | Amortized Cost | | Gains | | Losses | | Fair Value | U.S. Treasury securities | | $ | 54,313 | | $ | 22 | | $ | (289) | | $ | 54,046 | U.S. government agency mortgage-backed securities–residential | | | 90,434 | | | 38 | | | (7,594) | | | 82,878 | U.S. government agency securities | | | 16,597 | | | — | | | (184) | | | 16,413 | Municipal securities(1) | | | 2,204 | | | — | | | (123) | | | 2,081 | Corporate bonds | | | 16,149 | | | 52 | | | (421) | | | 15,780 | Other | | | 329 | | | — | | | (159) | | | 170 | Total | | $ | 180,026 | | $ | 112 | | $ | (8,770) | | $ | 171,368 |
| | | | | | | | | | | | | | | December 31, 2025 | | | | | Gross | | Gross | | | | | | | Unrealized | | Unrealized | | | | | Amortized Cost | | Gains | | Losses | | Fair Value | U.S. Treasury securities | | $ | 35,692 | | $ | 147 | | $ | (11) | | $ | 35,828 | U.S. government agency mortgage-backed securities–residential | | | 95,787 | | | 80 | | | (6,887) | | | 88,980 | U.S. government agency securities | | | 18,541 | | | 9 | | | (198) | | | 18,352 | Municipal securities(1) | | | 2,205 | | | — | | | (123) | | | 2,082 | Corporate bonds | | | 17,309 | | | 38 | | | (758) | | | 16,589 | Other | | | 587 | | | — | | | (215) | | | 372 | Total | | $ | 170,121 | | $ | 274 | | $ | (8,192) | | $ | 162,203 |
(1) | The issuers of municipal securities are all within New York State. |
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| Schedule of gross unrealized losses and fair value, securities in continuous unrealized loss position |
The following tables present the fair value and unrealized losses of the Company’s available for sale securities with gross unrealized losses aggregated by the length of time the individual securities have been in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | | Less Than 12 Months | | 12 Months or Longer | | Total | | | | | Unrealized | | | | Unrealized | | | | Unrealized | | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | U.S. Treasury securities | | $ | 42,398 | | $ | (289) | | $ | — | | $ | — | | $ | 42,398 | | $ | (289) | U.S. government agency mortgage-backed securities-residential | | | 24,710 | | | (398) | | | 52,983 | | | (7,196) | | | 77,693 | | | (7,594) | U.S. government agency securities | | | 6,580 | | | (16) | | | 9,832 | | | (168) | | | 16,412 | | | (184) | Municipal securities | | | 522 | | | (8) | | | 1,474 | | | (115) | | | 1,996 | | | (123) | Corporate bonds | | | 3,222 | | | (28) | | | 9,282 | | | (393) | | | 12,504 | | | (421) | Other | | | | | | | | | 153 | | | (159) | | | 153 | | | (159) | Total | | $ | 77,432 | | $ | (739) | | $ | 73,724 | | $ | (8,031) | | $ | 151,156 | | $ | (8,770) |
| | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Less Than 12 Months | | 12 Months or Longer | | Total | | | | | Unrealized | | | | Unrealized | | | | Unrealized | | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | U.S. Treasury securities | | $ | 12,909 | | $ | (11) | | $ | — | | $ | — | | $ | 12,909 | | $ | (11) | U.S. government agency mortgage-backed securities-residential | | | 9,846 | | | (24) | | | 64,740 | | | (6,863) | | | 74,586 | | | (6,887) | U.S. government agency securities | | | — | | | — | | | 11,803 | | | (198) | | | 11,803 | | | (198) | Municipal securities | | | — | | | — | | | 1,997 | | | (123) | | | 1,997 | | | (123) | Corporate bonds | | | 1,235 | | | (14) | | | 12,570 | | | (744) | | | 13,805 | | | (758) | Other | | | 352 | | | (215) | | | — | | | — | | | 352 | | | (215) | Total | | $ | 24,342 | | $ | (264) | | $ | 91,110 | | $ | (7,928) | | $ | 115,452 | | $ | (8,192) |
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| Schedule of maturities of debt securities |
The amortized cost and fair value of available for sale debt securities at June 30, 2026 and December 31, 2025, by contractual maturities, are presented below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary: | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | Maturity: | | | | | | | | | | | | | Within 1 year | | $ | 18,875 | | $ | 18,814 | | $ | 13,939 | | $ | 13,850 | After 1 but within 5 years | | | 57,455 | | | 56,929 | | | 45,425 | | | 45,358 | After 5 but within 10 years | | | 12,933 | | | 12,577 | | | 14,383 | | | 13,643 | After 10 years | | | — | | | — | | | — | | | — | Total Maturities | | | 89,263 | | | 88,320 | | | 73,747 | | | 72,851 | Mortgage-backed securities | | | 90,434 | | | 82,878 | | | 95,787 | | | 88,980 | Other | | | 329 | | | 170 | | | 587 | | | 372 | Total | | $ | 180,026 | | $ | 171,368 | | $ | 170,121 | | $ | 162,203 |
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