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Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Values of Financial Instruments [Abstract]

Fair Value Measurements, Recurring

					(Level 1)			(Level 2)
					Quoted Prices in			Significant			(Level 3)
					Active Markets			Other			Significant
					for Identical			Observable			Unobservable
Description		Total			Assets			Inputs			Inputs
As of March 31, 2025:
Securities
Debt Securities Available for Sale		$	116,496		$	-		$	116,496		$	-
Marketable Equities		$	9,357		$	9,357		$	-		$	-
Total Securities		$	125,853		$	9,357		$	116,496		$	-
As of December 31, 2024:
Securities
Debt Securities Available for Sale		$	101,717		$	-		$	101,717		$	-
Marketable Equities		$	9,472		$	9,472		$	-		$	-
Total Securities		$	111,189		$	9,472		$	101,717		$	-

Fair Value Measurements, Nonrecurring

					(Level 1)			(Level 2)
					Quoted Prices in			Significant			(Level 3)
					Active Markets			Other			Significant
					for Identical			Observable			Unobservable
Description		Total			Assets			Inputs			Inputs
As of March 31, 2025:
Individually Evaluated Loans		$	28,954		$	-		$	-		$	28,954
As of December 31, 2024:
Individually Evaluated Loans		$	19,391		$	-		$	-		$	19,391

Quantitative Information About Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements
		Fair Value	Valuation	Unobservable
		Estimate	Techniques	Input	Range
March 31, 2025:
Individually Evaluated Loans	$	28,954	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%

		Fair Value	Valuation	Unobservable
		Estimate	Techniques	Input	Range
December 31, 2024:
Individually Evaluated Loans	$	19,391	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not objectively determinable.

(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

Carrying Values and Estimated Fair Values of Financial Instruments

			As of March 31, 2025
								Quoted Prices in Active			Significant			Significant
		Carrying						Markets for Identical Assets			Other Observable Inputs			Unobservable Inputs
		Value			Fair Value			(Level 1)			(Level 2)			(Level 3)
		(In Thousands)
Financial assets:
Cash and cash equivalents		$	252,750		$	252,750		$	252,750		$	-		$	-
Interest-earning time deposits			735			735			-			735			-
Debt securities available for sale			116,496			116,496			-			116,496			-
Equity investments			9,357			9,357			9,357			-			-
Loans receivable, net			2,917,610			2,834,828			-			-			2,834,828
FHLB of New York stock, at cost			22,066			22,066			-			22,066			-
Accrued interest receivable			16,354			16,354			-			16,354			-
Financial liabilities:
Deposits			2,686,508			2,686,343			1,740,601			945,742			-
Borrowings			405,499			407,161			-			407,161			-
Subordinated debentures			43,024			41,262			-			41,262			-
Accrued interest payable			3,972			3,972			-			3,972			-

			As of December 31, 2024
								Quoted Prices in Active			Significant			Significant
		Carrying						Markets for Identical Assets			Other Observable Inputs			Unobservable Inputs
		Value			Fair Value			(Level 1)			(Level 2)			(Level 3)
		(In Thousands)
Financial assets:
Cash and cash equivalents		$	317,282		$	317,282		$	317,282		$	-		$	-
Interest-earning time deposits			735			735			-			735			-
Debt securities available-for-sale			101,717			101,717			-			101,717			-
Equity investments			9,472			9,472			9,472			-			-
Loans held for sale			-			-			-			-			-
Loans receivable, net			2,996,259			2,900,892			-			-			2,900,892
FHLB of New York stock, at cost			24,272			24,272			-			24,272			-
Accrued interest receivable			15,176			15,176			-			15,176			-
Financial liabilities:
Deposits			2,750,858			2,751,625			1,721,602			1,030,023			-
Debt			455,361			456,290			-			456,290			-
Subordinated debentures			42,961			41,594			-			41,594			-
Accrued interest payable			5,195			5,195			-			5,195			-

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

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-Topic 820
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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)
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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
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