BORROWINGS	12 Months Ended
Dec. 31, 2025
Federal Home Loan Banks [Abstract]
BORROWINGS	BORROWINGS Subordinated Debt On November 8, 2021, the Company completed a public offering of $85.0 million of aggregated principal amount of 3.25% Fixed-to-Floating Rate subordinated notes due 2031 (the "Notes"). The fixed rate period is defined from and including November 8, 2021 to, but excluding, November 15, 2026, or the date of earlier redemption. The floating rate period is defined from and including November 15, 2026 to, but excluding, November 15, 2031, or the date of earlier redemption. The floating rate per annum is equal to three-month term SOFR (the "benchmark rate") plus a spread of 230 basis points for each quarterly interest period during the floating rate period, provided however, that if the benchmark rate is less than zero, the benchmark rate shall be deemed to be zero. The subordinated notes will mature on November 15, 2031. The Company may, at its option, beginning with the interest payment date of November 15, 2026, and on any interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to obtaining prior approval of the Board of Governors of the Federal Reserve System (the "Federal Reserve Board") to the extent such approval is then required under the capital adequacy rules of the Federal Reserve Board, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. As of December 31, 2025 and December 31, 2024, the subordinated debt was $63.8 million and $63.7 million, respectively. Interest expense on subordinated debt for the years ended December 31, 2025, 2024, and 2023 was $2.2 million, $2.4 million, and $2.7 million, respectively. During the year ended December 31, 2025 the Company did not repurchase any subordinated notes. During the year ended December 31, 2024 and 2023, the Company repurchased subordinated notes with a par value of $7.0 million and $7.5 million, for cash paid of $5.9 million and $6.0 million, respectively. Gains on repurchases of subordinated debt for the year ended December 31, 2025, December 31, 2024, and 2023, were zero, $1.1 million and $1.4 million, respectively, and are recorded in Non-interest income - other on the consolidated statements of income. FHLBNY borrowed funds and Other Borrowings FHLBNY advances are collateralized by the FHLBNY stock owned by the Bank plus a pledge of other eligible assets comprised of securities and mortgage loans. Assets are pledged as collateral for borrowing capacity. As of December 31, 2025, the value of the other eligible assets had an estimated market value net of haircut totaling $1.98 billion (comprised of securities of $318.4 million and mortgage loans of $1.66 billion). As of December 31, 2024, the value of the other eligible assets had an estimated market value net of haircut totaling $2.04 billion (comprised of securities of $379.6 million and mortgage loans of $1.66 billion). The fair value of assets pledged to the FHLBNY is required to be not less than 110% of the outstanding advances. There were $5.8 million in outstanding FHLBNY advances as of December 31, 2025 and $250.7 million in outstanding FHLBNY advances as of December 31, 2024. As of December 31, 2025 and December 31, 2024, we had $5.8 million and $10.7 million, respectively, of FHLBNY advances through the 0% Development Advance Program that provides members with subsidized funding in the form of interest rate credits to assist in originating loans or purchasing loans or investments that meet one of the eligibility criteria. The Company pledged PACE assessments which qualified under the Climate Development Advance and therefore will receive interest rate credits and will not incur any interest expense related to the current outstanding advances. For the years ended December 31, 2025, 2024, and 2023, interest expense on FHLBNY advances was $0.7 million and $0.3 million, and $5.4 million, respectively. In addition to FHLBNY advances, the Company uses other borrowings for short-term borrowing needs. Federal funds lines of credit are extended to the Company by non-affiliated banks with which a correspondent banking relationship exists. At December 31, 2025, and December 31, 2024 there was no outstanding balance related to federal funds purchased. In addition, following the bank failures in 2023, the Federal Reserve created a new Bank Term Funding Program ("BTFP") as an additional source of liquidity against high-quality securities, offering loans of up to one year to eligible institutions pledging qualifying assets as collateral. During the year ended December 31, 2024, BTFP ceased extending new borrowings, and as such, there was no further outstanding borrowings. For the years ended December 31, 2024, and 2023, interest expense on BTFP balances was $2.7 million, and $7.6 million, respectively.

BORROWINGS

12 Months Ended

Dec. 31, 2025

Subordinated Debt

On November 8, 2021, the Company completed a public offering of $85.0 million of aggregated principal amount of 3.25% Fixed-to-Floating Rate subordinated notes due 2031 (the "Notes"). The fixed rate period is defined from and including November 8, 2021 to, but excluding, November 15, 2026, or the date of earlier redemption. The floating rate period is defined from and including November 15, 2026 to, but excluding, November 15, 2031, or the date of earlier redemption. The floating rate per annum is equal to three-month term SOFR (the "benchmark rate") plus a spread of 230 basis points for each quarterly interest period during the floating rate period, provided however, that if the benchmark rate is less than zero, the benchmark rate shall be deemed to be zero. The subordinated notes will mature on November 15, 2031.

The Company may, at its option, beginning with the interest payment date of November 15, 2026, and on any interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to obtaining prior approval of the Board of Governors of the Federal Reserve System (the "Federal Reserve Board") to the extent such approval is then required under the capital adequacy rules of the Federal Reserve Board, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption.

As of December 31, 2025 and December 31, 2024, the subordinated debt was $63.8 million and $63.7 million, respectively. Interest expense on subordinated debt for the years ended December 31, 2025, 2024, and 2023 was $2.2 million, $2.4 million, and $2.7 million, respectively.

During the year ended December 31, 2025 the Company did not repurchase any subordinated notes. During the year ended December 31, 2024 and 2023, the Company repurchased subordinated notes with a par value of $7.0 million and $7.5 million, for cash paid of $5.9 million and $6.0 million, respectively.

Gains on repurchases of subordinated debt for the year ended December 31, 2025, December 31, 2024, and 2023, were zero, $1.1 million and $1.4 million, respectively, and are recorded in Non-interest income - other on the consolidated statements of income.

FHLBNY borrowed funds and Other Borrowings

FHLBNY advances are collateralized by the FHLBNY stock owned by the Bank plus a pledge of other eligible assets comprised of securities and mortgage loans. Assets are pledged as collateral for borrowing capacity. As of December 31, 2025, the value of the other eligible assets had an estimated market value net of haircut totaling $1.98 billion (comprised of securities of $318.4 million and mortgage loans of $1.66 billion). As of December 31, 2024, the value of the other eligible assets had an estimated market value net of haircut totaling $2.04 billion (comprised of securities of $379.6 million and mortgage loans of $1.66 billion). The fair value of assets pledged to the FHLBNY is required to be not less than 110% of the outstanding advances. There were $5.8 million in outstanding FHLBNY advances as of December 31, 2025 and $250.7 million in outstanding FHLBNY advances as of December 31, 2024. As of December 31, 2025 and December 31, 2024, we had $5.8 million and $10.7 million, respectively, of FHLBNY advances through the 0% Development Advance Program that provides members with subsidized funding in the form of interest rate credits to assist in originating loans or purchasing loans or investments that meet one of the eligibility criteria. The Company pledged PACE assessments which qualified under the Climate Development Advance and therefore will receive interest rate credits and will not incur any interest expense related to the current outstanding advances. For the years ended December 31, 2025, 2024, and 2023, interest expense on FHLBNY advances was $0.7 million and $0.3 million, and $5.4 million, respectively.

In addition to FHLBNY advances, the Company uses other borrowings for short-term borrowing needs. Federal funds lines of credit are extended to the Company by non-affiliated banks with which a correspondent banking relationship exists. At December 31, 2025, and December 31, 2024 there was no outstanding balance related to federal funds purchased. In addition, following the bank failures in 2023, the Federal Reserve created a new Bank Term Funding Program ("BTFP") as an additional source of liquidity against high-quality securities, offering loans of up to one year to eligible institutions pledging qualifying assets as collateral. During the year ended December 31, 2024, BTFP ceased extending new borrowings, and as such, there was no further outstanding borrowings. For the years ended December 31, 2024, and 2023, interest expense on BTFP balances was $2.7 million, and $7.6 million, respectively.