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Benefits Plans (Tables)

12 Months Ended

Dec. 31, 2025

Pension Plan's Funded Status and Components of Net Periodic Pension Cost


Change in Benefit Obligation:	December 31,
		2025		2024		2023
	(In Thousands)
Benefit obligation, beginning of year	$	4,228	$	4,802	$	4,935
Interest cost		225		224		238
Actuarial loss (gain) ⁽¹⁾		22		(256)		(25)
Benefits paid		(340)		(363)		(346)
Lump sum distributions		(214)		(179)		0
Benefit obligation, ending	$	3,921	$	4,228	$	4,802
Change in Plan Assets:
Fair value of assets, beginning of year	$	6,082	$	6,012	$	5,965
Actual return on plan assets		445		612		393
Benefits paid		(340)		(363)		(346)
Lump sum distributions		(214)		(179)		0
Fair value of assets, ending	$	5,973	$	6,082	$	6,012
Fair value of assets	$	5,973	$	6,082	$	6,012
Projected benefit obligation		3,921		4,228		4,802
Funded status, included in other assets, net	$	2,052	$	1,854	$	1,210
Valuation assumptions used to determine benefit obligation at period end:
Discount rate		5.61%		5.54%		4.83%
Salary increase rate		N/A		N/A		N/A

(1) Actuarial gain comes about when the actual plan results are more favorable than the actuarial assumptions used to perform the calculations. The primary actuarial assumptions used are interest and mortality as well as the rate of return on the plan assets. Differences between expected and actual results in each year are included in the net actuarial gain.

Net Periodic Pension and SERP Expense


Net Periodic Pension Expense:	December 31,
		2025		2024		2023
	(In Thousands)
Interest cost	$	225	$	224	$	238
Expected return on assets		(355)		(350)		(346)
Amortization of net loss		-		-		55
Net periodic pension benefit	$	(130)	$	(126)	$	(53)
Valuation assumptions used to determine net periodic benefit for the year:
Discount rate		5.54%		4.83%		5.02%
Long term rate of return on plan assets		6.00%		6.00%		6.00%
Salary increase rate		N/A		N/A		N/A

Asset Allocation Parameters by Asset Class



Asset Allocation Parameters by Asset Class
	Minimum	Target	Maximum
Equity
Large-Cap U.S.		42%
Mid/Small-Cap U.S.		11%
Non-U.S.		26%
Total-Equity	40%	55%	60%

Fixed Income
Long/Short Duration		43%
Money Market/Certificates of Deposit		2%
Total-Fixed Income	40%	45%	60%

Schedule of Fair Value of Plan Assets

The fair values of the Pension Plan assets at December 31, 2025, by asset category (see Note 2 for the definitions of levels), are as follows (In Thousands):



Asset Category		Total		(Level 1)		(Level 2)		(Level 3)
Mutual funds-Equity
Large-Cap Value (a)	$	1,057	$	1,057	$	-	$	-
Large-Cap Growth (b)		-		-		-		-
Diversified Emerging Markets (f)		110		110		-		-
Large Blend (d)		1,312		1,312		-		-
Technology (g)		174		174		-		-
Mutual Funds-Fixed Income
Long Government (h)		36		36		-		-
Multi-Sector Bond (c)		1,151		1,151		-		-
High Yield Bond (e)		602		602		-		-
Intermediate Core Bond (i)		566		566		-		-
BCB Common Stock		402		402		-		-
Cash Equivalents
Money Market		563		563		-		-
Total	$	5,973	$	5,973	$	-	$	-

The fair values of the Company’s pension plan assets at December 31, 2024, by asset category (see Note 2 for the definitions of levels), are as follows (In Thousands):




Asset Category		Total		(Level 1)		(Level 2)		(Level 3)
Mutual funds-Equity
Large-Cap Value (a)	$	1,035	$	1,035	$	-	$	-
Large-Cap Growth (b)		-		-		-		-
Diversified Emerging Markets (f)		88		88		-		-
Large Blend (d)		1,253		1,253		-		-
Technology (g)		168		168		-		-
Mutual Funds-Fixed Income
Long Government (h)		38		38		-		-
Multi-Sector Bond (c)		1,181		1,181		-		-
High Yield Bond (e)		622		622		-		-
Intermediate Core Bond (i)		595		595		-		-
BCB Common Stock		590		590		-		-
Cash Equivalents
Money Market		512		512		-		-
Total	$	6,082	$	6,082	$	-	$	-

a)Large Cap value portfolios invest primarily in big U.S. companies that are less expensive or growing more slowly than other large-cap stocks. Stocks in the top 70 percent of the capitalization of the U.S. equity market are defined as large cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow).

b)Large Cap Growth Stocks of large cap companies that are projected to grow faster than other large cap stocks. Stocks in the top 70% of the capitalization of the U.S. equity market defined as large cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).

c)Multi Sector portfolios seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, foreign bonds, and high-yield domestic debt securities.

d)This fund invests in 500 of the largest U.S. companies, which span many different industries and account for about three-fourths of the U.S. Stock Markets value.

e)High Yield Bond funds invest at least 65 percent of assets in bonds rated below BBB. This fund seeks to provide shareholders with a high level of current income with capital growth as a secondary objective.

f)The fund invests at least 80% of the value of its assets in equity securities and equity related instruments that are tied economically to emerging markets.

g)The fund normally invests at least 80% of the fund’s net assets in securities of issuers principally engaged in offering, using or developing products, processes or services that will provide or benefit significantly from technological advances and improvements.

h)The fund normally invests at least 80% of assets in securities included in the Bloomberg Barclays U.S. Long Treasury Bond Index.

i)Intermediate term core bond portfolios invest primarily in investment grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment grade exposures.

Expected Benefit Payments



2026	$	366
2027		366
2028		362
2029		352
2030		339
2031-2035		1,516

Schedule of Share-Based Compensation Expense



	Years Ended December 31,
		2025		2024		2023
Stock Option Expense	$	141	$	128	$	133
Restricted Stock Expense		875		639		460
Total share-based compensation expense	$	1,016	$	767	$	593

Summary of Status of Restricted Shares



	Number of Shares Awarded	Weighted Average Grant Date Fair Value
Non-vested at December 31, 2024	84,800	$ 12.38
Granted	43,773	10.66
Vested	(49,220)	12.49
Forfeited	-	-
Non-vested at December 31, 2025	79,353	$ 11.36

Summary of Stock Option Activity


	Number of Options		Range of Exercise Price		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value (000's)
Outstanding at January 1, 2024	975,975	$	10.55-13.68	$	11.89	3.83	$	984
Options forfeited	-		-		-	-		-
Options exercised ⁽¹⁾	(2,000)		12.19		12.19	-		-
Options granted	-		-		-	-		-
Options expired	(80,000)		13.32		-	-		-
Outstanding at December 31, 2024	893,975	$	10.55-13.68	$	11.76	3.16	$	355
Options forfeited	-		-		-	-		-
Options exercised	-		-		-	-		-
Options granted	63,763		9.91		9.91	-		-
Options expired	(82,000)		10.78		10.78	-		-
Outstanding at December 31, 2025	875,738	$	9.91-13.68	$	11.72	2.88	$	-
Exercisable at December 31, 2025	773,715

(1) Includes 2,000 cashless exercise of options during 2024.