
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2026
U.S. Treasuries	$	45,577	$	131	$	1,966	$	43,742
Obligations of U.S. Government sponsored entities	348,769		4,052		12,312		340,509
Obligations of U.S. states and political subdivisions	80,622		5		5,986		74,641
Mortgage-backed securities – residential, issued by
U.S. Government agencies	308,634		358		2,537		306,455
U.S. Government sponsored entities	621,668		4,863		5,419		621,112

U.S. corporate debt securities	2,500		0		49		2,451
Total available-for-sale debt securities	$	1,407,770	$	9,409	$	28,269	$	1,388,910
December 31, 2025
U.S. Treasuries	$	55,492	$	213	$	1,925	$	53,780
Obligations of U.S. Government sponsored entities	354,128		5,928		11,653		348,403
Obligations of U.S. states and political subdivisions	81,517		7		5,214		76,310
Mortgage-backed securities – residential, issued by
U.S. Government agencies	315,001		852		2,357		313,496
U.S. Government sponsored entities	582,741		6,712		1,821		587,632

U.S. corporate debt securities	2,500		0		53		2,447
Total available-for-sale debt securities	$	1,391,379	$	13,712	$	23,023	$	1,382,068


(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2026
U.S. Treasuries	$	85,775	$	0	$	7,347	$	78,428
Obligations of U.S. Government sponsored entities	226,770		0		22,609		204,161

Total held-to-maturity debt securities	$	312,545	$	0	$	29,956	$	282,589
December 31, 2025
U.S. Treasuries	$	85,831	$	0	$	7,037	$	78,794
Obligations of U.S. Government sponsored entities	226,697		0		21,631		205,066

Total held-to-maturity debt securities	$	312,528	$	0	$	28,668	$	283,860

The Company may from time to time sell debt securities from its available-for-sale portfolio. There were no sales of available-for-sale debt securities for the three months ended March 31, 2026 or the three months ended March 31, 2025. The Company's available-for-sale portfolio includes callable securities that may be called prior to maturity. There were no realized gains (losses) on called available-for-sale debt securities for the three months ended March 31, 2026 or the three months ended March 31, 2025. The Company also recognized net losses on equity securities of $5,000 for the three months ended March 31, 2026 and net gains of $14,000 for the same period during 2025, reflecting the change in fair value.


	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2026
U.S. Treasuries	$	0	$	0	$	28,906	$	1,966	$	28,906	$	1,966
Obligations of U.S. Government sponsored entities	26,669		189		141,157		12,123		167,826		12,312
Obligations of U.S. states and political subdivisions	9,391		56		61,099		5,930		70,490		5,986
Mortgage-backed securities – residential, issued by
U.S. Government agencies	187,441		2,289		11,620		248		199,061		2,537
U.S. Government sponsored entities	422,096		4,976		7,889		443		429,985		5,419
U.S. corporate debt securities	0		0		2,451		49		2,451		49
Total available-for-sale debt securities	$	645,597	$	7,510	$	253,122	$	20,759	$	898,719	$	28,269
December 31, 2025
U.S. Treasuries	$	0	$	0	$	38,936	$	1,925	$	38,936	$	1,925
Obligations of U.S. Government sponsored entities	0		0		141,606		11,653		141,606		11,653
Obligations of U.S. states and political subdivisions	2,530		2		65,279		5,212		67,809		5,214
Mortgage-backed securities – residential, issued by
U.S. Government agencies	179,250		2,129		12,051		228		191,301		2,357
U.S. Government sponsored entities	291,424		1,452		7,990		369		299,414		1,821
U.S. corporate debt securities	0		0		2,447		53		2,447		53
Total available-for-sale debt securities	$	473,204	$	3,583	$	268,309	$	19,440	$	741,513	$	23,023


	Less than 12 Months				12 Months or Longer				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 31, 2026
U.S. Treasuries	$	0	$	0	$	78,428	$	7,347	$	78,428	$	7,347
Obligations of U.S. Government sponsored entities	0		0		204,161		22,609		204,161		22,609

Total held-to-maturity debt securities	$	0	$	0	$	282,589	$	29,956	$	282,589	$	29,956
December 31, 2025
U.S. Treasuries	$	0	$	0	$	78,794	$	7,037	$	78,794	$	7,037
Obligations of U.S. Government sponsored entities	0		0		205,066		21,631		205,066		21,631

Total held-to-maturity debt securities	$	0	$	0	$	283,860	$	28,668	$	283,860	$	28,668

The Company evaluates available-for-sale debt securities for expected credit losses ("ECL") in unrealized loss positions at each measurement date to determine whether the decline in the fair value below the amortized cost basis is due to credit-related factors or noncredit-related factors.

For available-for-sale debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline in the fair value below the amortized cost basis is the result of changes in interest rates or reflects a fundamental change in the creditworthiness of the underlying issuer. Any impairment that is not credit related is recognized in other comprehensive income (loss), net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses ("ACL") on the Consolidated Statements of Condition, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings. Both the ACL and the adjustment to net income may be reversed if conditions change.

Management measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Management has made the accounting policy election to exclude accrued interest receivable on held-to-maturity debt securities from the estimate of credit losses. As of March 31, 2026, the held-to- maturity portfolio consisted of U.S. Treasury securities and securities issued by U.S. government-sponsored enterprises, including the Federal National Mortgage Agency and the Federal Farm Credit Banks Funding Corporation. U.S. Treasury securities are backed by the full faith and credit of and/or guaranteed by the U.S. government, and it is expected that the securities will not be settled at prices less than the amortized cost bases of the securities. Securities issued by U.S. government agencies or U.S. government-sponsored enterprises carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as "low-risk," and have a long history of zero credit loss. As such, the Company did not record an allowance for credit losses for these securities as of March 31, 2026 or December 31, 2025.

The gross unrealized losses reported for residential mortgage-backed securities relate to investment securities issued by U.S. government sponsored entities such as Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and U.S. government agencies such as Government National Mortgage Association. The total gross unrealized losses, shown in the tables above, were primarily attributable to changes in interest rates and levels of market liquidity, relative to when the investment securities were purchased, and not due to the credit-related quality of the investment securities. The Company does

The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date.


	March 31, 2026				December 31, 2025
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value

Available-for-sale debt securities:
Due in one year or less	$	62,719	$	62,637	$	74,224	$	74,109
Due after one year through five years	229,088		220,345		238,913		231,336
Due after five years through ten years	185,661		178,361		180,500		175,495

Total	477,468		461,343		493,637		480,940
Mortgage-backed securities	930,302		927,567		897,742		901,128
Total available-for-sale debt securities	$	1,407,770	$	1,388,910	$	1,391,379	$	1,382,068


	March 31, 2026				December 31, 2025
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value

Held-to-maturity debt securities:

Due after one year through five years	$	189,679	$	173,185	$	174,870	$	160,547
Due after five years through ten years	122,866		109,404		137,658		123,313
Total held-to-maturity debt securities	$	312,545	$	282,589	$	312,528	$	283,860

The Company also holds non-marketable Federal Home Loan Bank New York ("FHLBNY") stock and non-marketable Atlantic Community Bankers Bank ("ACBB") stock, all of which are required to be held for regulatory purposes and for borrowing availability. The required investment in Federal Home Loan Bank ("FHLB") stock is tied to the Company’s borrowing levels with the FHLB. Holdings of FHLBNY stock and ACBB stock totaled $27.1 million and $95,000, respectively, at March 31, 2026 compared to $32.2 million and $95,000, respectively, at December 31, 2025. These securities are carried at par, which is also cost. The FHLBNY continues to pay dividends and repurchase stock. Quarterly, we evaluate our investment in the FHLB for impairment. We evaluate recent and long-term operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history and impact of legislative and regulatory changes. Based on our most recent evaluation, as of March 31, 2026, we determined that no impairment write-downs were required.