AMERISERV FINANCIAL INC /PA/, 10-K filed on 3/18/2026
Annual Report
v3.26.1
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2025
Mar. 13, 2026
Jun. 30, 2025
Document And Entity Information      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Securities Act File Number 0-11204    
Entity Registrant Name AMERISERV FINANCIAL INC /PA/    
Entity Incorporation, State or Country Code PA    
Entity Tax Identification Number 25-1424278    
Entity Address, Address Line One MAIN & FRANKLIN STREETS    
Entity Address, Address Line Two P.O. BOX 430    
Entity Address, City or Town JOHNSTOWN    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 15907-0430    
City Area Code 814    
Local Phone Number 533-5300    
Title of 12(b) Security Common Stock    
Trading Symbol ASRV    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag false    
Document Financial Statement Error Correction Flag false    
Entity Shell Company false    
Entity Public Float     $ 46,410,960
Entity Common Stock, Shares Outstanding   16,964,267  
Auditor Name S.R. Snodgrass, P.C.    
Auditor Location Cranberry Township, Pennsylvania    
Auditor Firm ID 74    
Entity Central Index Key 0000707605    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and due from depository institutions $ 11,473 $ 13,891
Interest bearing deposits and short-term investments 39,418 3,855
Cash and cash equivalents 50,891 17,746
Investment securities, net of allowance for credit losses:    
Available for sale, at fair value (allowance for credit losses $360 on December 31, 2024) 176,228 155,620
Held to maturity (fair value $68,916 on December 31, 2025 and $58,471 on December 31, 2024; allowance for credit losses $90 on December 31, 2025 and $89 on December 31, 2024) 72,256 63,837
Trading securities 7,253  
Loans held for sale 241 460
Loans (net of unearned income $466 on December 31, 2025 and $517 on December 31, 2024) 1,032,727 1,067,949
Less: Allowance for credit losses 13,128 13,912
Net loans 1,019,599 1,054,037
Premises and equipment:    
Operating lease right-of-use asset 1,395 1,550
Financing lease right-of-use asset 2,106 2,331
Other premises and equipment, net 13,929 14,228
Accrued interest income receivable 5,557 5,486
Intangible assets:    
Goodwill 13,611 13,611
Core deposit intangible 56 77
Bank owned life insurance 39,308 39,923
Net deferred tax asset   1,412
Federal Home Loan Bank stock 3,785 4,759
Federal Reserve Bank stock 2,161 2,125
Other real estate owned and repossessed assets 216 1,724
Other assets 45,221 43,436
TOTAL ASSETS 1,453,813 1,422,362
LIABILITIES    
Non-interest bearing deposits 159,198 171,622
Interest bearing deposits 1,088,930 1,029,373
Total deposits 1,248,128 1,200,995
Short-term borrowings   14,642
Advances from Federal Home Loan Bank 44,615 56,058
Operating lease liabilities 1,426 1,572
Financing lease liabilities 2,501 2,689
Subordinated debt 26,767 26,726
Total borrowed funds 75,309 101,687
Net deferred tax liability 1,636  
Other liabilities 9,428 12,432
TOTAL LIABILITIES 1,334,501 1,315,114
SHAREHOLDERS' EQUITY    
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,779,089 shares issued, 216,500 shares issuable, and 16,522,267 shares outstanding on December 31, 2025 and 26,776,089 shares issued and 16,519,267 shares outstanding on December 31, 2024 270 268
Treasury stock at cost, 10,256,822 shares on December 31, 2025 and December 31, 2024 (84,791) (84,791)
Capital surplus 147,070 146,372
Retained earnings 64,112 60,482
Accumulated other comprehensive loss (7,349) (15,083)
TOTAL SHAREHOLDERS' EQUITY 119,312 107,248
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,453,813 $ 1,422,362
v3.26.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CONSOLIDATED BALANCE SHEETS    
Available for sale securities, allowance for credit losses $ 0 $ 360,000
Held to maturity securities, fair value 68,916,000 58,471,000
Held to maturity, allowance for credit losses 90,000 89,000
Unearned income $ 466,000 $ 517,000
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized 30,000,000 30,000,000
Common stock, shares issued 26,779,089 26,776,089
Common stock, shares issuable 216,500  
Common stock, shares outstanding 16,522,267 16,519,267
Treasury stock, shares 10,256,822 10,256,822
v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Interest and fees on loans    
Taxable $ 59,972 $ 56,638
Tax exempt 188 121
Interest bearing deposits and short-term investments 826 250
Investment securities:    
Available for sale 7,632 7,209
Held to maturity 2,592 2,287
Trading securities 144  
Total Interest Income 71,354 66,505
INTEREST EXPENSE    
Deposits 25,471 25,448
Short-term borrowings 266 1,582
Advances from Federal Home Loan Bank 2,200 2,265
Financing lease liabilities 100 108
Subordinated debt 1,054 1,054
Total Interest Expense 29,091 30,457
Net Interest Income 42,263 36,048
Provision for credit losses 4,120 884
Net Interest Income after Provision for Credit Losses 38,143 35,164
NON-INTEREST INCOME    
Non-interest income 14,634 15,621
Mortgage banking revenue 184 304
Trading securities revenue 118  
Bank owned life insurance 1,284 1,067
Other income 2,698 3,098
Total Non-Interest Income 16,989 17,975
NON-INTEREST EXPENSE    
Salaries and employee benefits 28,939 28,387
Net occupancy expense 2,984 2,968
Equipment expense 1,559 1,539
Professional fees 3,755 4,784
Data processing and IT expense 4,953 4,815
Supplies, postage and freight 701 670
Miscellaneous taxes and insurance 1,446 1,308
Federal deposit insurance expense 987 1,021
Other expense 3,012 3,248
Total Non-Interest Expense 48,336 48,740
PRETAX INCOME 6,796 4,399
Provision for income taxes 1,184 798
NET INCOME $ 5,612 $ 3,601
Basic:    
Net income (in dollars per share) $ 0.34 $ 0.21
Average number of shares outstanding (in shares) 16,519,809 16,802,383
Diluted:    
Net income (in dollars per share) $ 0.34 $ 0.21
Average number of shares outstanding (in shares) 16,529,893 16,802,383
Wealth management fees    
NON-INTEREST INCOME    
Non-interest income $ 11,560 $ 12,318
Service charges on deposit accounts    
NON-INTEREST INCOME    
Non-interest income $ 1,145 $ 1,188
v3.26.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
COMPREHENSIVE INCOME    
Net income $ 5,612 $ 3,601
Other comprehensive income    
Pension obligation change for defined benefit plan 2,804 5,415
Income tax effect (589) (1,137)
Unrealized holding gains on available for sale securities arising during period 6,934 504
Income tax effect (1,456) (106)
Fair value change for interest rate hedge 80 962
Income tax effect (17) (202)
Reclassification adjustment for reduction of interest expense related to interest rate hedge (28) (687)
Income tax effect 6 144
Other comprehensive income 7,734 4,893
COMPREHENSIVE INCOME $ 13,346 $ 8,494
v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Treasury Stock
Surplus
Retained Earnings
Accumulated Other Comprehensive Loss
Total
Balance at beginning of period at Dec. 31, 2023 $ 268 $ (83,280) $ 146,364 $ 58,901 $ (19,976) $ 102,277
Net income       3,601   3,601
Treasury stock purchased (628,003 shares)   (1,511)       (1,511)
Stock option expense     8     8
Other comprehensive income         4,893 4,893
Cash dividend declared on common stock ($0.12 per share)       (2,020)   (2,020)
Balance at end of period at Dec. 31, 2024 268 (84,791) 146,372 60,482 (15,083) 107,248
Net income       5,612   5,612
Common stock issued for exercise of stock options (3,000 shares)     9     9
Common stock issuable (216,500 shares) 2   689     691
Other comprehensive income         7,734 7,734
Cash dividend declared on common stock ($0.12 per share)       (1,982)   (1,982)
Balance at end of period at Dec. 31, 2025 $ 270 $ (84,791) $ 147,070 $ 64,112 $ (7,349) $ 119,312
v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period 3,000  
common stock issuable (in shares) 216,500  
Cash dividends declared (in dollars per share) $ 0.12 $ 0.12
Treasury Stock    
Treasury stock purchased, shares   628,003
v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING ACTIVITIES    
Net income $ 5,612,000 $ 3,601,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 4,120,000 884,000
Depreciation and amortization expense 2,077,000 2,059,000
Amortization expense of core deposit intangible 21,000 24,000
Amortization of fair value adjustment on acquired time deposits (1,000) (8,000)
Net (accretion) amortization of investment securities (98,000) 76,000
Net amortization of deferred loan fees (234,000) (132,000)
Net gains on loans held for sale (116,000) (174,000)
Origination of mortgage loans held for sale (7,358,000) (11,426,000)
Sales of mortgage loans held for sale 7,693,000 11,270,000
(Increase) decrease in accrued interest receivable (71,000) 43,000
Increase (decrease) in accrued interest payable 552,000 (335,000)
Earnings on bank owned life insurance (1,284,000) (1,067,000)
Deferred income taxes 992,000 (34,000)
Stock compensation expense   8,000
Common stock issuable 691,000  
Net change in trading securities (7,253,000)  
Net change in operating leases (178,000) (169,000)
Other, net (1,978,000) (1,933,000)
Net cash provided by operating activities 3,187,000 2,687,000
INVESTING ACTIVITIES    
Purchase of investment securities - available for sale (54,649,000) (16,353,000)
Purchase of investment securities - held to maturity (15,743,000) (6,449,000)
Proceeds from maturities of investment securities - available for sale 40,328,000 26,062,000
Proceeds from maturities of investment securities - held to maturity 7,428,000 6,490,000
Proceeds from sale of investment securities - available for sale 0 935,000
Purchase of regulatory stock (12,344,000) (15,214,000)
Proceeds from redemption of regulatory stock 13,282,000 15,665,000
Net decrease (increase) in loans 30,515,000 (33,499,000)
Purchase of premises and equipment (1,124,000) (1,711,000)
Proceeds from sale of other real estate owned and repossessed assets 1,466,000 264,000
Proceeds from life insurance policies 1,911,000 711,000
Net cash provided by (used in) investing activities 11,070,000 (23,099,000)
FINANCING ACTIVITIES    
Net increase in deposit balances 47,134,000 42,643,000
Net decrease in other short-term borrowings (14,642,000) (26,309,000)
Principal borrowings on advances from Federal Home Loan Bank 1,908,000 28,703,000
Principal repayments on advances from Federal Home Loan Bank (13,351,000) (17,207,000)
Principal payments on financing lease liabilities (188,000) (168,000)
Stock options exercised 9,000  
Purchases of treasury stock   (1,511,000)
Common stock dividend paid (1,982,000) (2,020,000)
Net cash provided by financing activities 18,888,000 24,131,000
NET INCREASE IN CASH AND CASH EQUIVALENTS 33,145,000 3,719,000
CASH AND CASH EQUIVALENTS AT JANUARY 1 17,746,000 14,027,000
CASH AND CASH EQUIVALENTS AT DECEMBER 31 $ 50,891,000 $ 17,746,000
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BUSINESS AND NATURE OF OPERATIONS

AmeriServ Financial, Inc. (the Company) is a bank holding company, headquartered in Johnstown, Pennsylvania. Through its banking subsidiary, the Company operates 16 banking locations in five southwestern Pennsylvania counties and Hagerstown, Maryland. These branches provide a full range of consumer, mortgage, and commercial financial products and wealth management services.

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of AmeriServ Financial, Inc. and its wholly owned subsidiary, AmeriServ Financial Bank (the Bank). The Bank is a Pennsylvania state-chartered full-service bank with 15 locations in Pennsylvania and 1 location in Maryland. Through its AmeriServ Wealth and Capital Management Division, the Bank offers a complete range of trust and financial services and administers assets valued at approximately $2.7 billion and $2.6 billion that are not reported on the Company’s Consolidated Balance Sheets at December 31, 2025 and 2024, respectively. AmeriServ Wealth Advisors, Inc., an SEC-registered investment advisor, is a subsidiary of the Bank.

In addition, the Parent Company is an administrative group that provides support in such areas as audit, finance, investments, loan review, general services, and marketing. Intercompany accounts and transactions have been eliminated in preparing the Consolidated Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (generally accepted accounting principles, or GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from these estimates and the differences may be material to the Consolidated Financial Statements. The Company’s most significant estimates relate to the allowance for credit losses (related to investment securities, loans, and unfunded commitments), pension, and derivatives (interest rate swaps/hedges).

OPERATING SEGMENTS

While the chief decision-maker monitors the revenue streams of the various products and services, operations are managed, and financial performance is evaluated on a Company-wide basis. Discrete financial information is not available other than on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. Segment reporting is described further in Note 21.

INVESTMENT SECURITIES

Securities are classified at the time of purchase as investment securities held to maturity if it is management’s intent and the Company has the ability to hold the securities until maturity. These held to maturity securities are carried on the Company’s books at cost, adjusted for amortization of premium and accretion of discount which is computed using the level yield method which approximates the effective interest method. Alternatively, securities are classified as available for sale if it is management’s intent at the time of purchase to hold the securities for an indefinite period of time and/or to use the securities as part of the Company’s asset/liability management strategy. Securities classified as available for sale include securities which may be sold to effectively manage interest rate risk exposure, prepayment risk, and other factors (such as liquidity requirements). These available for sale securities are reported at fair value with unrealized aggregate appreciation/depreciation excluded from income and credited/charged to accumulated other comprehensive income (loss) within shareholders’ equity on a net of tax basis. Realized gains or losses on securities sold are computed upon the adjusted cost of the specific securities sold.

Securities classified as trading assets are purchased with the intent of selling them in the near term (less than 30 days) to generate profits from short-term changes in price. Trading securities are reported at fair value with unrealized gains and losses included in income. The Company participates in limited trading activity. Specifically, during 2025, the Company established a $7.0 million investment trading account which is managed by an outside third party. The trading account is invested in U.S. Treasury and municipal securities. As of December 31, 2025, there was $99,000 of cash held

in the account available for future trading security purchases. This cash balance is included in cash and cash equivalents on the Consolidated Balance Sheets.

Additionally, the Company holds equity securities which are comprised of mutual funds held within a rabbi trust for the executive deferred compensation plan and ordinary shares issued by a borrower in satisfaction of debt previously contracted. The deferred compensation plan equity securities are reported at fair value within other assets on the Consolidated Balance Sheets and unrealized holding gains and losses are included in earnings. The ordinary shares issued in satisfaction of debt previously contracted do not have a readily determinable fair value. Therefore, they are reported at cost within other assets on the Consolidated Balance Sheets and are adjusted when observable price changes are identified or an impairment charge is recognized.

Allowance for Credit Losses – Held to Maturity Securities

The Company measures expected credit losses on held to maturity debt securities, which are comprised of U.S. government agency and mortgage-backed securities as well as municipal, corporate, and other bonds. The Company’s agency and mortgage-backed securities are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. As such, no allowance for credit losses has been established for these securities. The allowance for credit losses on the municipal, corporate, and other bonds within the held to maturity securities portfolio is calculated using the probability of default/loss given default (PD/LGD) method. The calculation is completed on a quarterly basis using the default studies provided by an industry leading source. At December 31, 2025 and 2024, the allowance for credit losses on the held to maturity securities portfolio totaled $90,000 and $89,000, respectively.

The allowance for credit losses on held to maturity debt securities is included within investment securities held to maturity on the Consolidated Balance Sheets. Changes in the allowance for credit losses are recorded within provision for credit losses on the Consolidated Statements of Operations.

Accrued interest receivable on held to maturity debt securities totaled $384,000 and $403,000 at December 31, 2025 and 2024, respectively, and is included within accrued interest income receivable on the Consolidated Balance Sheets. This amount is excluded from the estimate of expected credit losses. Held to maturity debt securities are typically classified as non-accrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When held to maturity debt securities are placed on non-accrual status, unpaid interest credited to income is reversed. The Company had no held to maturity debt securities in non-accrual status or past due over 90 days still accruing interest at December 31, 2025 and 2024.

Allowance for Credit Losses – Available for Sale Securities

The Company measures expected credit losses on available for sale debt securities when the Company does not intend to sell, or when it is not more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For available for sale debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this evaluation indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost, a credit loss exists and an allowance for credit losses is recorded for the credit loss, equal to the amount that the fair value is less than the amortized cost basis. At times, based on management judgment, the Company may establish an allowance for credit losses in excess of the amount that the fair value is less than the amortized cost basis based on specific circumstances surrounding the security. At December 31, 2025, the Company had no allowance for credit losses on the available for sale securities portfolio compared to an allowance totaling $360,000 at December 31, 2024.

The allowance for credit losses on available for sale debt securities is included within investment securities available for sale on the Consolidated Balance Sheets. Changes in the allowance for credit losses are recorded within provision for credit losses on the Consolidated Statements of Operations. Losses are charged against the allowance when the Company believes the collectability of an available for sale security is in jeopardy or when either of the criteria regarding intent or requirement to sell is met.

Accrued interest receivable on available for sale debt securities totaled $977,000 and $833,000 at December 31, 2025 and 2024, respectively, and is included within accrued interest income receivable on the Consolidated Balance Sheets. This amount is excluded from the estimate of expected credit losses. Available for sale debt securities are typically classified as non-accrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When available for sale debt securities are placed on non-accrual status, unpaid interest credited to income is reversed. It should be noted that the Company had no available for sale debt securities in non-accrual status at December 31, 2025 due to the third quarter 2025 charge-off of a non-performing security totaling $1.0 million against a previously established allowance for credit losses. This is compared to one available for sale debt security in non-accrual status at December 31, 2024 totaling $1.0 million with an associated allowance for credit losses of $360,000. When this corporate security was transferred to non-accrual status, interest income from investments was unfavorably impacted due to the reversal of previously recognized income. Specifically, unpaid interest on this security which was reversed totaled $84,000 in 2024.

FEDERAL HOME LOAN BANK STOCK

The Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB), and as such, is required to maintain a minimum investment in stock of the FHLB that varies with the level of advances outstanding with the FHLB. The stock is bought from and sold to the FHLB based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment by management. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (1) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time any such situation has persisted; (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance; (3) the impact of legislative and regulatory changes on the customer base of the FHLB; and (4) the liquidity position of the FHLB. Management evaluated the stock and concluded that the stock was not impaired for the periods presented herein.

LOANS HELD FOR SALE

Certain newly originated residential mortgage loans are classified as held for sale, because it is management’s intent to sell these residential mortgage loans. The residential mortgage loans held for sale are carried at the lower of aggregate cost or fair value.

LOANS

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of any deferred fees or costs and an allowance for credit losses. Interest income is accrued on the unpaid principal balance and is recognized using the level yield method. As of December 31, 2025 and 2024, accrued interest receivable on loans totaled $4.2 million, which is reported in accrued interest income receivable on the Consolidated Balance Sheets and is excluded from the estimate of credit losses.

The Company typically discontinues the accrual of interest income when loans become 90 days past due in either principal or interest. In addition, if circumstances warrant, the accrual of interest may be discontinued prior to 90 days. Payments received on non-accrual loans are credited to principal until full recovery of principal has been recognized or the loan has been returned to accrual status. The only exception to this policy is for residential mortgage loans wherein interest income is recognized on a cash basis as payments are received. Generally, a non-accrual commercial or

consumer loan is returned to accrual status after becoming current and remaining current for twelve consecutive payments. Residential mortgage loans are typically returned to accrual status upon becoming current.

LOAN FEES

Loan origination and commitment fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan.

ALLOWANCE FOR CREDIT LOSSES – LOANS

The allowance for credit losses (ACL) is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loans, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

​

The ACL is an estimate of expected credit losses, measured over the contractual life of a loan, which considers our historical loss experience, current conditions and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans.

​

The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. The Company has aligned our segmentation to the quarterly Call Report. This allowed the Company to use not only our data but also peer institutions’ data to supplement loss observations in determining our qualitative adjustments. Some further sub-segmenting was performed on the commercial and industrial (C&I) and commercial real estate (CRE) portfolios based on collateral type. The Company has identified the following portfolio segments:

​

●Commercial Real Estate Owner Occupied
●Commercial and Industrial
●Commercial Real Estate Non-Owner Occupied – Retail
●Commercial Real Estate Non-Owner Occupied – Multi-Family
●Commercial Real Estate Non-Owner Occupied – Other
●Residential Mortgages
●Consumer

​

The Company is utilizing the static pool analysis (cohort) method for our current expected credit losses (CECL) model. The static pool analysis methodology captures loans that qualify for a segment (i.e. balance of a pool of loans with similar risk characteristics) as of a point in time to form a cohort, then tracks that cohort over their remaining lives to determine their loss behavior. The remaining lifetime loss rate is then applied to current loans that qualify for the same segmentation criteria to form a remaining life expectation on current loans. Once historical cohorts are established, the loans in each individual cohort are tracked over their remaining lives for loss and recovery events. Each cohort is evaluated individually, and as a result, a loss may be counted in several different quarterly cohort periods, as long as the specific loan existed in the population of each of those cohort periods.

Historical credit loss experience is the basis for the estimation of expected credit losses. The Company applies historical loss rates to pools of loans with similar risk characteristics. After consideration of the historic loss calculation, management applies qualitative adjustments to reflect the current conditions and reasonable and supportable forecasts not already captured in the historical loss information at the balance sheet date. Our reasonable and supportable forecast adjustment is based on a blend of peer and Company data as well as management judgment. Including peer data addresses the Company’s lack of loss history in some pools of loans. For periods beyond our reasonable and supportable forecast period of two years, loss expectations revert to the long-run historical mean. The qualitative adjustments for current conditions are based upon the following factors:

●changes in lending policies and procedures;
●changes in economic conditions;
●changes in the nature and volume of the portfolio;
●staff experience;
●changes in volume and severity of delinquency, non-performing loans, and classified loans;
●changes in the quality of the Company’s loan review system;
●trends in underlying collateral value;
●concentration risk; and
●external factors: competition, legal, regulatory.

​

These modified historical loss rates are multiplied by the outstanding principal balance of each loan to calculate a required reserve. Ultimately, 41% of the fourth quarter of 2025 general reserve represented qualitative adjustment with 59% representing quantitative reserve.

In accordance with ASC 326, Financial Instruments – Credit Losses, the Company will evaluate individual loans for expected credit losses when those loans do not share similar risk characteristics with loans evaluated using a collective (pooled) basis. In contrast to legacy accounting standards, this criterion is broader than the impairment concept and management may evaluate loans individually even when no specific expectation of collectability is in place. Loans will not be included in both collective and individual analysis. The individual analysis will establish a specific reserve for loans in scope. It should be noted that there is a review threshold of $150,000 or more for loans being subject to individual evaluation within the consumer and residential mortgage segments.

​

Specific reserves are established based on the following three acceptable methods for measuring the ACL: 1) the present value of expected future cash flows discounted at the loan’s original effective interest rate; 2) the loan’s observable market price; or 3) the fair value of the collateral when the loan is collateral dependent. The method is selected on a loan-by-loan basis, with management primarily utilizing either the discounted cash flows or the fair value of collateral methods. The evaluation of the need and amount of a specific allocation of the allowance is made on a quarterly basis.

​

The need for an updated appraisal on collateral dependent loans is determined on a case-by-case basis. The useful life of an appraisal or evaluation will vary depending upon the circumstances of the property and the economic conditions in the marketplace. A new appraisal is not required if there is an existing appraisal which, along with other information, is sufficient to determine a reasonable value for the property and to support an appropriate and adequate allowance for credit losses. At a minimum, annual documented reevaluation of the property is completed by the Bank’s internal Collections and Assigned Risk Department to support the value of the property.

When reviewing an appraisal associated with an existing real estate collateral dependent transaction, the Bank’s Chief Credit Officer must determine if there have been material changes to the underlying assumptions in the appraisal which affect the original estimate of value. Some of the factors that could cause material changes to reported values include:

●the passage of time;
●the volatility of the local market;
●the availability of financing;
●natural disasters;
●the inventory of competing properties;
●new improvements to, or lack of maintenance of, the subject property or competing properties upon physical inspection by the Bank;
●changes in underlying economic and market assumptions, such as material changes in current and projected vacancy, absorption rates, capitalization rates, lease terms, rental rates, sales prices, concessions, construction overruns and delays, zoning changes, etc.; and/or
●environmental contamination.

The value of the property is adjusted to appropriately reflect the above listed factors and the value is discounted to reflect the value impact of a forced or distressed sale, any outstanding senior liens, any outstanding unpaid real estate taxes, transfer taxes and closing costs that would occur with sale of the real estate. If the Chief Credit Officer determines that a reasonable value cannot be derived based on available information, a new appraisal is ordered. The determination of the need for a new appraisal, versus completion of a property valuation by the Bank’s Collections and Assigned Risk Department personnel, rests with the Chief Credit Officer and not the originating account officer.

ALLOWANCE FOR CREDIT LOSSES – UNFUNDED LOAN COMMITMENTS AND LETTERS OF CREDIT

The Company estimates expected credit losses over the contractual period in which it is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancelable. The allowance for credit losses on off-balance sheet credit exposures is adjusted through the provision for credit losses line on the Consolidated Statements of Operations. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The carrying amount of the allowance for credit losses for the Company’s obligations related to unfunded commitments and standby letters of credit is reported in other liabilities on the Consolidated Balance Sheets.

TRANSFERS OF FINANCIAL ASSETS

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company; (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.

PREMISES AND EQUIPMENT

Premises and equipment are stated at cost less accumulated depreciation and amortization. Land is carried at cost. Depreciation is charged to operations over the estimated useful lives of the premises and equipment using the straight-line method. Useful lives of up to 30 years for buildings and up to 10 years for equipment are utilized. Leasehold improvements are amortized using the straight-line method over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance, repairs, and minor alterations are charged to current operations as expenditures are incurred.

LEASES

​

The Company has operating and financing leases for several office locations and equipment. Generally, the underlying lease agreements do not contain any material residual value guarantees or material restrictive covenants. Many of our leases include both lease (e.g., minimum rent payments) and non-lease components, such as common area maintenance charges, utilities, real estate taxes, and insurance. The Company has elected to account for the variable non-lease components separately from the lease component. Such variable non-lease components are reported in net occupancy expense on the Consolidated Statements of Operations when incurred. These variable non-lease components were excluded from the calculation of the present value of the remaining lease payments; therefore, they are not included in the right-of-use assets and lease liabilities reported on the Consolidated Balance Sheets.

Certain of the Company’s leases contain options to renew the lease after the initial term. Management considers the Company’s historical pattern of exercising renewal options on leases and the performance of the leased locations when determining whether it is reasonably certain that the leases will be renewed. If management concludes that there is reasonable certainty about the renewal option, it is included in the calculation of the remaining term of each applicable lease. The discount rate utilized in calculating the present value of the remaining lease payments for each lease is the Federal Home Loan Bank of Pittsburgh advance rate corresponding to the remaining maturity of the lease.

Under ASC 842, the lessee can elect to not record on the Consolidated Balance Sheets a lease whose term is twelve months or less and does not include a purchase option that the lessee is reasonably certain to exercise. As of December 31, 2025 and 2024, the Company had no short-term leases.

BANK-OWNED LIFE INSURANCE

The Company has purchased life insurance policies on certain current and previous employees. These policies are recorded on the Consolidated Balance Sheets at their cash surrender value, or the amount that can be realized. Income from these policies and changes in the cash surrender value are recorded in bank owned life insurance within non-interest income. Additionally, income is accrued on certain policies that have reached the minimum floor rate of return. This guaranteed portion of income is not added to the cash surrender value of the policy until the policy anniversary date and is reported in other assets on the Consolidated Balance Sheets.

INTANGIBLE ASSETS

Goodwill arising from business combinations represents the value attributable to unidentifiable intangible elements in the business acquired. Goodwill is not amortized but is periodically evaluated for impairment. The Company tests goodwill for impairment on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts.

Identifiable intangible assets are amortized to their estimated residual values over their expected useful lives. Such lives are also periodically reassessed to determine if any amortization period adjustments are required. The identifiable intangible assets consist of a core deposit intangible which is being amortized on an accelerated basis over a ten-year useful life.

EARNINGS PER COMMON SHARE

Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares in the calculation. Treasury shares are excluded for earnings per share purposes. Options to purchase 166,000 and 194,000 shares of common stock were outstanding during 2025 and 2024, respectively, but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. Exercise prices of anti-dilutive options to purchase common stock outstanding were $2.96 to $4.22 during 2025 and 2024.

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

Numerator:

​

​

​

​

​

​

Net income

​

$

5,612

​

$

3,601

Denominator:

​

 

  ​

​

 

  ​

Weighted average common shares outstanding (basic)

​

 

16,519,809

​

 

16,802,383

Effect of stock options

​

 

—

​

 

—

Effect of common stock issuable

​

 

10,084

​

 

—

Weighted average common shares outstanding (diluted)

​

 

16,529,893

​

 

16,802,383

Earnings per common share:

​

 

  ​

​

 

  ​

Basic

​

$

0.34

​

$

0.21

Diluted

​

 

0.34

​

 

0.21

​

STOCK-BASED COMPENSATION

The Company uses the modified prospective method for accounting of stock-based compensation. The fair value of each option grant is estimated on the grant date using the Binomial or Black-Scholes option pricing model and the expense is recognized ratably over the service period. Forfeitures are recognized as they occur. See Note 17 for details on the assumptions used.

ACCUMULATED OTHER COMPREHENSIVE LOSS

The Company presents the components of other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income. These components are comprised of the change in the defined benefit pension obligation, the unrealized holding gains (losses) on available for sale securities, net of any reclassification adjustments for realized gains and losses, and fair value change for the interest rate hedges, net of any reclassification adjustments for reduction of interest expense.

CONSOLIDATED STATEMENT OF CASH FLOWS

On a consolidated basis, cash and cash equivalents include cash and due from depository institutions, interest bearing deposits, and short-term investments in both money market funds and commercial paper. The Company made $325,000 in income tax payments during 2025 compared to receiving a $1.1 million income tax refund in 2024. The Company made total interest payments of $28.5 million in 2025 compared to $30.8 million in 2024. The Company had non-cash transfers to other real estate owned (OREO) and repossessed assets of $49,000 in 2025 and $1.9 million in 2024. During 2025, the Company entered into a new operating lease related to an office location and recorded a right-of-use asset and lease liability of $32,000. During 2024, the Company entered into a new operating lease related to an office location and recorded a right-of-use asset and lease liability of $1.1 million. Additionally, during 2024, the Company entered into two new financing leases related to an office location and equipment and recorded a right-of-use asset and lease liability of $298,000. The execution of these new leases was partially offset by the termination of two financing leases related to an office location and equipment which led to the write-off of $141,000 of right-of-use assets and lease liabilities during 2024.

INCOME TAXES

Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate. Deferred income tax expenses or credits are based on the changes in the corresponding asset or liability from period to period. Deferred tax assets are reduced, if necessary, by the amounts of such benefits that are not expected to be realized based upon available evidence.

INTEREST RATE CONTRACTS

The Company recognizes all derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and hedged item related to the hedged risk are recognized in earnings. Changes in fair value of derivatives designated and accounted for as cash flow hedges, to the extent they are effective as hedges, are recorded in other comprehensive income (loss), net of deferred taxes and are subsequently reclassified to earnings when the hedged transaction affects earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item.

The Company periodically enters into derivative instruments to meet the financing, interest rate and equity risk management needs of its customers or the Bank. Upon entering into these instruments to meet customer needs, the Company enters into offsetting positions to minimize interest rate and equity risk to the Company. These derivative financial instruments are reported at fair value with any resulting gain or loss recorded in current period earnings in amounts that offset. These instruments and their offsetting positions are recorded in other assets and other liabilities on the Consolidated Balance Sheets.

PENSION

Pension costs and liabilities are dependent on assumptions used in calculating such amounts. These assumptions include discount rates, benefits earned, interest costs, expected return on plan assets, mortality rates, and other factors. In accordance with GAAP, actual results that differ from the assumptions are accumulated and amortized over future periods and, therefore, generally affect recognized expense and the recorded obligation of future periods. While management believes that the assumptions used are appropriate, differences in actual experience or changes in

assumptions may affect the Company’s pension obligations and future expense. Additionally, pension expense can also be impacted by settlement accounting charges if the amount of employee selected lump sum distributions exceed the total amount of service and interest component costs of the net periodic pension (benefit) cost in a particular year.

The service cost component of net periodic pension (benefit) cost is determined by aggregating the product of the discounted cash flows of the plan’s service cost for each year and an individual spot rate (referred to as the “spot rate” approach). The interest cost component is determined by aggregating the product of the discounted cash flows of the plan’s projected benefit obligations for each year and an individual spot rate. Management believes this methodology is an appropriate measure of the service cost and interest cost as each year’s cash flows are specifically linked to the interest rates of bond payments in the same respective year. The Company’s pension benefits are described further in Note 15 of the Notes to Consolidated Financial Statements.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company groups its assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are:

Level I — Valuation is based upon quoted prices for identical instruments traded in active markets.

Level II — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level III — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset.

Fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy in generally accepted accounting principles.
v3.26.1
ADOPTION OF ACCOUNTING STANDARDS
 12 Months Ended
Dec. 31, 2025
ADOPTION OF ACCOUNTING STANDARDS  
ADOPTION OF ACCOUNTING STANDARDS

2. ADOPTION OF ACCOUNTING STANDARDS

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which provides for improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This guidance became effective for annual periods beginning after December 15, 2024. The Company has provided income tax disclosures in Note 14 – Income Taxes as of December 31, 2025 and 2024.
v3.26.1
REVENUE RECOGNITION
 12 Months Ended
Dec. 31, 2025
REVENUE RECOGNITION  
REVENUE RECOGNITION

3. REVENUE RECOGNITION

Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers, requires the Company to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers at the time the transfer of goods or services takes place. Management determined that the primary sources of revenue associated with financial instruments, including interest and fee income on loans and interest on investments, along with certain non-interest revenue sources including net realized gains (losses) on investment securities, mortgage banking revenue, and bank owned life insurance are not within the scope of Topic 606. These sources of revenue cumulatively comprise 83.4% of the total gross revenue of the Company.

Non-interest income within the scope of Topic 606 is as follows:

●Wealth management fees – Wealth management fee income is primarily comprised of fees earned from the management and administration of trusts and customer investment portfolios. The Company’s performance obligation is generally satisfied over a period of time, and the resulting fees are billed monthly or quarterly,
based upon the month end market value of the assets under management. Payment is generally received after month end through a direct charge to customers’ accounts. Due to this delay in payment, a receivable of $850,000 was established as of December 31, 2025 and 2024 and included in other assets on the Consolidated Balance Sheets in order to properly recognize the revenue earned but not yet received. Other performance obligations (such as delivery of account statements to customers) are generally considered immaterial to the overall transactions’ price. Commissions on transactions are recognized on a trade-date basis as the performance obligation is satisfied at the point in time in which the trade is processed. Also included within wealth management fees are commissions from the sale of mutual funds, annuities, and life insurance products. Commissions on the sale of mutual funds, annuities, and life insurance products are recognized when sold, which is when the Company has satisfied its performance obligation.
●Service charges on deposit accounts – The Company has contracts with its deposit account customers where fees are charged for certain items or services. Service charges include account analysis fees, monthly service fees, overdraft fees, and other deposit account related fees. Revenue related to account analysis fees and service fees is recognized on a monthly basis as the Company has an unconditional right to the fee consideration. Fees attributable to specific performance obligations of the Company (i.e. overdraft fees, etc.) are recognized at a defined point in time based on completion of the requested service or transaction.
●Other non-interest income – Other non-interest income consists of other recurring revenue streams such as safe deposit box rental fees, gain (loss) on sale of other real estate owned, ATM and VISA debit card fees, and other miscellaneous revenue streams. Safe deposit box rental fees are charged to the customer on an annual basis and recognized when billed. However, if the safe deposit box rental fee is prepaid (i.e. paid prior to issuance of the annual bill), the revenue is recognized upon receipt of payment. The Company has determined that since rentals and renewals occur consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Gains and losses on the sale of other real estate owned are recognized at the completion of the property sale when the buyer obtains control of the real estate and all the performance obligations of the Company have been satisfied. The Company offers ATM and VISA debit cards to deposit account holders, which allows our customers to access their accounts electronically at ATMs and POS terminals. Fees related to ATM and VISA debit card transactions are recognized when the transactions are completed and the Company has satisfied its performance obligation.

The following presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 

​

 

2025

  ​ ​ ​

2024

​

​

​

​

​

​

​

Non-interest income:

​

​

​

​

​

​

In-scope of Topic 606

 

​

  ​

 

​

  ​

Wealth management fees

​

$

11,560

​

$

12,318

Service charges on deposit accounts

​

 

1,145

​

 

1,188

Other

​

 

1,929

​

 

2,115

Non-interest income (in-scope of Topic 606)

​

 

14,634

​

 

15,621

Non-interest income (out-of-scope of Topic 606)

​

 

2,355

​

 

2,354

Total non-interest income

​

$

16,989

​

$

17,975

​
v3.26.1
CASH AND DUE FROM DEPOSITORY INSTITUTIONS
 12 Months Ended
Dec. 31, 2025
CASH AND DUE FROM DEPOSITORY INSTITUTIONS  
CASH AND DUE FROM DEPOSITORY INSTITUTIONS

4. CASH AND DUE FROM DEPOSITORY INSTITUTIONS

Cash and due from depository institutions totaled $11.5 million and $13.9 million as of December 31, 2025 and 2024, respectively. The Federal Reserve reduced reserve requirements to zero as of March 26, 2020.

​
v3.26.1
INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2025
INVESTMENT SECURITIES  
INVESTMENT SECURITIES

5. INVESTMENT SECURITIES

The cost basis and fair values of investment securities are summarized as follows:

Investment securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

​

​

​

GROSS

​

GROSS

​

ALLOWANCE

​

​

​

​

​

​

​

​

UNREALIZED

​

UNREALIZED

​

FOR CREDIT

​

FAIR

​

  ​ ​ ​

COST BASIS

  ​ ​ ​

GAINS

  ​ ​ ​

LOSSES

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

​

$

5,162

​

$

—

​

$

(372)

​

$

—

​

$

4,790

U.S. Agency mortgage-backed securities

​

 

119,381

​

 

639

​

 

(9,164)

​

​

—

​

 

110,856

Municipal

​

 

10,155

​

 

140

​

 

(361)

​

​

—

​

 

9,934

Corporate bonds

​

 

51,473

​

 

387

​

 

(1,212)

​

​

—

​

 

50,648

Total

​

$

186,171

​

$

1,166

​

$

(11,109)

​

$

—

​

$

176,228

​

Investment securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

​

​

​

ALLOWANCE

​

​

​

GROSS

​

GROSS

​

​

​

​

​

​

​

FOR CREDIT

​

CARRYING

​

UNREALIZED

​

UNREALIZED

​

FAIR

​

  ​ ​ ​

COST BASIS

  ​ ​ ​

LOSSES

​

VALUE

  ​ ​ ​

GAINS

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

​

$

2,500

​

$

—

​

$

2,500

​

$

—

​

$

(216)

​

$

2,284

U.S. Agency mortgage-backed securities

​

​

36,592

​

​

—

​

​

36,592

​

​

210

​

​

(1,820)

​

​

34,982

Municipal

​

 

30,754

​

 

(1)

​

 

30,753

​

 

6

​

 

(1,415)

​

 

29,344

Corporate bonds and other securities

​

 

2,500

​

 

(89)

​

 

2,411

​

 

—

​

 

(105)

​

 

2,306

Total

​

$

72,346

​

$

(90)

​

$

72,256

​

$

216

​

$

(3,556)

​

$

68,916

​

Investment securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

​

​

​

​

GROSS

​

GROSS

​

ALLOWANCE

​

​

​

​

​

​

​

​

UNREALIZED

​

UNREALIZED

​

FOR CREDIT

​

FAIR

​

  ​ ​ ​

COST BASIS

  ​ ​ ​

GAINS

  ​ ​ ​

LOSSES

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

​

$

5,345

​

$

—

​

$

(679)

​

$

—

​

$

4,666

U.S. Agency mortgage-backed securities

​

 

104,227

​

 

90

​

 

(12,783)

​

​

—

​

 

91,534

Municipal

​

 

9,031

​

 

2

​

 

(670)

​

​

—

​

 

8,363

Corporate bonds

​

 

54,254

​

 

94

​

 

(2,931)

​

​

(360)

​

 

51,057

Total

​

$

172,857

​

$

186

​

$

(17,063)

​

$

(360)

​

$

155,620

​

Investment securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

​

​

​

​

ALLOWANCE

​

​

​

GROSS

​

GROSS

​

​

​

​

​

​

​

FOR CREDIT

​

CARRYING

​

UNREALIZED

​

UNREALIZED

​

FAIR

​

​

COST BASIS

  ​ ​ ​

LOSSES

​

VALUE

  ​ ​ ​

GAINS

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

  ​ ​ ​

$

2,500

​

$

—

​

$

2,500

​

$

—

​

$

(365)

​

$

2,135

U.S. Agency mortgage-backed securities

  ​ ​ ​

​

26,966

​

​

—

​

​

26,966

​

​

28

​

​

(2,403)

​

​

24,591

Municipal

​

 

30,961

​

 

(2)

​

 

30,959

​

 

—

​

 

(2,553)

​

 

28,406

Corporate bonds and other securities

​

 

3,499

​

 

(87)

​

 

3,412

​

 

—

​

 

(73)

​

 

3,339

Total

​

$

63,926

​

$

(89)

​

$

63,837

​

$

28

​

$

(5,394)

​

$

58,471

​

The Company and its subsidiary, collectively, did not hold securities of any single issuer, excluding U.S. agencies, that exceeded 10% of shareholders’ equity at December 31, 2025. Management conducted a review of the investment

securities portfolio in order to identify exposures to issuers within foreign countries experiencing significant economic, fiscal, and/or political strains. Given the instability and continuing conflict between Israel and other Middle East nations, the nation of Israel has been identified by management as significantly strained. At December 31, 2025, the Company had a State of Israel Jubilee bond within the held to maturity portfolio with an amortized cost of $1.0 million and a fair value of $980,000. The 3-year bond was purchased prior to the start of the conflicts and is set to mature in August 2026.

​

The Company recognized no gross investment security gains or losses in 2025 and 2024. The Company sold no available for sale (AFS) securities during 2025 while the proceeds from the sale of AFS securities totaled $935,000 for 2024. The Company had established an allowance for credit losses on one of the AFS securities sold during 2024. In accordance with ASC 326, Financial Instruments – Credit Losses, once the Company decided to sell the security (i.e. intent to sell), the security was charged down, against the allowance, to fair value therefore resulting in the recognition of no gain or loss.

The carrying value of securities, both available for sale and held to maturity, pledged to secure public and trust deposits was $142.7 million at December 31, 2025 and $125.8 million at December 31, 2024. In addition, the Company has pledged $3.8 million of available for sale securities as collateral for a revolving line of credit from an unrelated financial institution.

The interest rate environment and market yields can have a significant impact on the yield earned on mortgage-backed securities (MBS). Prepayment speed assumptions are an important factor to consider when evaluating the returns on an MBS. Generally, as interest rates decline, borrowers have more incentive to refinance into a lower rate, so prepayments will rise. Conversely, as interest rates increase, prepayments will decline. When an MBS is purchased at a premium, the yield will decrease as prepayments increase and the yield will increase as prepayments decrease. As of December 31, 2025, the Company had low premium risk as the book value of our mortgage-backed securities purchased at a premium was only 100.6% of the par value.

The Company’s consolidated investment securities portfolio had an effective duration of approximately 3.76 years. The weighted average expected maturity for available for sale securities at December 31, 2025 for U.S. agency, U.S. agency mortgage-backed, corporate bond, and municipal securities was 5.06, 7.60, 4.14, and 5.19 years, respectively. The weighted average expected maturity for held to maturity securities at December 31, 2025 for U.S. agency, U.S. agency mortgage-backed, corporate bond/other securities, and municipal securities was 4.97, 6.65, 3.93, and 3.68 years, respectively. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without prepayment penalties. The following tables set forth the contractual maturity distribution of investment securities, cost basis for available for sale and carrying value for held to maturity as well as fair market values, as of December 31, 2025.

Investment securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TOTAL

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

U.S. AGENCY

​

INVESTMENT

​

​

​

​

​

​

​

​

​

MORTGAGE-

​

SECURITIES

​

​

​

​

​

​

CORPORATE

​

BACKED

​

AVAILABLE

​

​

U. S. AGENCY

​

MUNICIPAL

​

BONDS

​

SECURITIES

​

FOR SALE

​

​

(IN THOUSANDS)

COST BASIS

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Within 1 year

​

$

—

 

$

700

 

$

7,793

 

$

—

​

$

8,493

After 1 year but within 5 years

​

 

3,112

 

 

4,372

 

 

15,841

 

 

1,100

​

 

24,425

After 5 years but within 10 years

​

 

1,000

 

 

4,103

 

 

26,089

 

 

3,976

​

 

35,168

Over 10 years

​

 

1,050

 

 

980

 

 

1,750

 

 

114,305

​

 

118,085

Total

​

$

5,162

 

$

10,155

 

$

51,473

 

$

119,381

​

$

186,171

FAIR VALUE

​

 

  ​

 

 

  ​

 

 

  ​

 

 

  ​

 

 

 

Within 1 year

​

$

—

 

$

700

 

$

7,739

​

$

—

​

$

8,439

After 1 year but within 5 years

​

 

2,904

 

 

4,124

 

 

15,772

​

 

1,097

​

 

23,897

After 5 years but within 10 years

​

 

899

 

 

4,126

 

 

25,356

​

 

3,871

​

 

34,252

Over 10 years

​

 

987

 

 

984

 

 

1,781

​

 

105,888

​

 

109,640

Total

​

$

4,790

 

$

9,934

 

$

50,648

​

$

110,856

​

$

176,228

​

Investment securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

  ​ ​ ​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

TOTAL 

​

​

​

​

​

​

​

​

​

​

​

U.S. AGENCY

​

INVESTMENT

​

​

​

​

​

​

​

​

CORPORATE

​

MORTGAGE-

​

SECURITIES 

​

​

​

​

​

​

​

​

BONDS AND

​

BACKED

​

HELD TO

​

​

U.S. AGENCY

​

MUNICIPAL

​

OTHER

​

SECURITIES

​

MATURITY

​

​

(IN THOUSANDS)

CARRYING VALUE

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

​

Within 1 year

​

$

—

 

$

1,406

 

$

1,000

 

$

—

 

$

2,406

After 1 year but within 5 years

​

 

—

​

 

15,844

​

 

—

​

 

—

​

 

15,844

After 5 years but within 10 years

​

 

2,500

​

 

13,188

​

 

1,411

​

 

1,031

​

 

18,130

Over 10 years

​

 

—

​

 

315

​

 

—

​

 

35,561

​

 

35,876

Total

​

$

2,500

​

$

30,753

​

$

2,411

​

$

36,592

​

$

72,256

FAIR VALUE

​

 

  ​

 

 

  ​

 

 

  ​

 

 

  ​

 

 

  ​

Within 1 year

​

$

—

 

$

1,404

 

$

980

 

$

—

 

$

2,384

After 1 year but within 5 years

​

 

—

​

 

15,569

​

 

—

​

 

—

​

 

15,569

After 5 years but within 10 years

​

 

2,284

​

 

12,085

​

 

1,326

​

 

1,014

​

 

16,709

Over 10 years

​

 

—

​

 

286

​

 

—

​

 

33,968

​

 

34,254

Total

​

$

2,284

​

$

29,344

​

$

2,306

​

$

34,982

​

$

68,916

​

The following tables summarize the available for sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025 and 2024, aggregated by security type and length of time in a continuous loss position (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

LESS THAN 12 MONTHS

​

12 MONTHS OR LONGER

​

TOTAL

​

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

U.S. Agency

​

$

—

​

$

—

​

$

4,790

​

$

(372)

​

$

4,790

​

$

(372)

U.S. Agency mortgage-backed securities

​

​

9,198

​

​

(28)

​

​

60,272

​

​

(9,136)

​

​

69,470

​

​

(9,164)

Municipal

​

 

—

​

​

—

​

​

5,670

​

​

(361)

​

​

5,670

​

​

(361)

Corporate bonds

​

 

5,086

​

​

(64)

​

​

20,416

​

​

(1,148)

​

​

25,502

​

​

(1,212)

Total

​

$

14,284

​

$

(92)

​

$

91,148

​

$

(11,017)

​

$

105,432

​

$

(11,109)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

​

LESS THAN 12 MONTHS

​

12 MONTHS OR LONGER

​

TOTAL

​

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

U.S. Agency

​

$

—

​

$

—

​

$

4,666

​

$

(679)

​

$

4,666

​

$

(679)

U.S. Agency mortgage-backed securities

​

​

16,104

​

​

(275)

​

​

63,323

​

​

(12,508)

​

​

79,427

​

​

(12,783)

Municipal

​

 

—

​

​

—

​

​

8,121

​

​

(670)

​

​

8,121

​

​

(670)

Corporate bonds

​

 

9,500

​

​

(675)

​

​

34,612

​

​

(2,256)

​

​

44,112

​

​

(2,931)

Total

​

$

25,604

​

$

(950)

​

$

110,722

​

$

(16,113)

​

$

136,326

​

$

(17,063)

​

At December 31, 2025, within the available for sale debt securities portfolio, the Company had six U.S. Agency mortgage-backed securities and ten corporate bonds that have been in a gross unrealized loss position for less than 12 months with depreciation of 0.6% from its amortized cost basis. Additionally, at December 31, 2025, within the available for sale debt securities portfolio, the Company had six U.S. Agency, 127 U.S. Agency mortgage-backed securities, 16 municipal, and 39 corporate bonds that have been in a gross unrealized loss position for greater than 12 months with depreciation of 10.8% from its amortized cost basis.

​

These unrealized losses are primarily a result of increases in market yields from the time of purchase. In general, as market yields rise, the value of securities will decrease; as market yields decrease, the fair value of securities will increase. Management generally views changes in fair value caused by changes in interest rates as temporary; therefore, no allowance for credit losses has been recorded for these securities. Management has also concluded that based on current information we expect to continue to receive scheduled interest payments as well as the entire principal balance. Furthermore, management does not intend to sell these securities and does not believe it will be required to sell these securities before they recover in value or mature.

The following tables present the activity in the allowance for credit losses on available for sale debt securities by major security type for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2024

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2025

Corporate bonds

​

$

360

​

$

(1,000)

​

$

—

​

$

640

​

$

—

Total

​

$

360

​

$

(1,000)

​

$

—

​

$

640

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2023

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2024

Corporate bonds

​

$

926

​

$

(491)

​

$

—

​

$

(75)

​

$

360

Total

​

$

926

​

$

(491)

​

$

—

​

$

(75)

​

$

360

​

During 2025, the Company recognized the charge-off of a $1.0 million corporate bond within the available for sale debt securities portfolio. The security was charged off against an established allowance for credit losses due to further credit deterioration and heightened doubts surrounding the issuer’s ability to meet its payment obligations as well as substantial legal issues. The Company recognized a $640,000 provision for credit losses on available for sale debt securities in 2025 as a result of the establishment of a full reserve on the corporate bond discussed above after a partial reserve was established for the security last year. This compares to the recognition of a $75,000 provision for credit losses recovery in 2024. During 2024, the recognition of the provision recovery was due to the sale of the impaired subordinated debt investment issued by Signature Bank which was partially offset by the establishment of an allowance for credit losses on a corporate AFS security deemed to be credit impaired.

The following tables present the activity in the allowance for credit losses on held to maturity debt securities by major security type for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2024

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2025

Municipal

​

$

2

​

$

—

​

$

—

​

$

(1)

​

$

1

Corporate bonds and other securities

​

​

87

​

​

—

​

​

—

​

​

2

​

​

89

Total

​

$

89

​

$

—

​

$

—

​

$

1

​

$

90

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2023

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2024

Municipal

​

$

2

​

$

—

​

$

—

​

$

—

​

$

2

Corporate bonds and other securities

​

​

35

​

​

—

​

​

—

​

​

52

​

​

87

Total

​

$

37

​

$

—

​

$

—

​

$

52

​

$

89

​

The Company’s agency and mortgage-backed securities are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. As such, no allowance for credit losses has been established for these securities. The allowance for credit losses on the municipal, corporate, and other bonds within the held to maturity securities portfolio is calculated using the PD/LGD method. The calculation is completed on a quarterly basis using the default studies provided by an industry leading source.

Maintaining investment quality is a primary objective of the Company’s Investment Policy which, subject to certain limited exceptions, prohibits the purchase of any investment security below a Moody’s or Standard & Poor’s rating of A. The Company monitors the credit ratings of its debt securities on a quarterly basis. At December 31, 2025, 1.7% of the portfolio was rated AAA as compared to 59.2% at December 31, 2024. The steep decline in securities rated AAA resulted from the Moody’s downgrade of the United States rating to Aa1 during 2025 which impacted the Company’s U.S. Agency and U.S. Agency mortgage-backed securities. At December 31, 2025, 76.5% of the total investment securities portfolio was rated AA or higher compared to 72.8% at December 31, 2024. Approximately 13.5% of the portfolio was rated below A or unrated at December 31, 2025 compared to 14.7% at December 31, 2024.

Specifically, the following table summarizes the carrying value of held to maturity debt securities at December 31, 2025, aggregated by credit quality indicator (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

CREDIT RATING

​

​

AAA/AA/A

​

BBB/BB/B

​

UNRATED

​

TOTAL

U.S. Agency

  ​ ​ ​

$

2,500

​

$

—

  ​ ​ ​

$

—

  ​ ​ ​

$

2,500

U.S. Agency mortgage-backed securities

​

​

36,592

​

​

—

​

​

—

​

​

36,592

Municipal

​

​

30,753

​

​

—

​

​

—

​

​

30,753

Corporate bonds and other securities

​

​

1,000

​

​

—

​

​

1,411

​

​

2,411

Total

​

$

70,845

​

$

—

​

$

1,411

​

$

72,256

​

The Company had no held to maturity debt securities in non-accrual status or past due 90 days still accruing interest at December 31, 2025 and 2024. The underlying issuers continue to make timely principal and interest payments on the securities.

Trading Securities

The following table presents the Company’s trading securities, at estimated fair value.

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

U.S. Treasury

​

$

3,401

​

$

—

Municipal

 

​

3,852

​

​

—

Total

​

$

7,253

​

$

—

​

The following table presents the net gain on trading securities included in trading securities revenue for the years ended December 31, 2025 and 2024.

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Net realized gain on sales

​

$

213

​

$

—

Net unrealized gain

​

 

29

​

 

—

Net gain on trading securities

​

 

242

​

 

—

Less: Portfolio expenses and management fees

​

 

124

​

 

—

Trading securities revenue

​

$

118

​

$

—

​

Equity Securities

As of December 31, 2025 and 2024, the Company reported $183,000 and $350,000, respectively, of equity securities within other assets on the Consolidated Balance Sheets. These equity securities are held within a non-qualified deferred compensation plan in which a select group of executives of the Company can participate. An eligible executive can defer a certain percentage of their current salary to be placed into the plan and held within a rabbi trust. The assets of the rabbi trust are invested in various publicly listed mutual funds. The gain or loss on the equity securities (both realized and unrealized) is reported within other income on the Consolidated Statements of Operations. No gain or loss on the equity securities (both realized and unrealized) was recorded during 2025 and 2024. Additionally, the Company has recognized a deferred compensation liability, which is equal to the balance of the equity securities and is reported within other liabilities on the Consolidated Balance Sheets.

Additionally, the Company previously entered into a Registration Rights Agreement with a borrower who, upon emergence from bankruptcy, issued ordinary shares in satisfaction of debt previously contracted. The shares are not listed on any stock exchange. At December 31, 2025 and 2024, the carrying value of these equity securities without readily determinable fair values was $600,000, which is included in other assets on the Consolidated Balance Sheets. During 2025, the Company received additional shares of restricted common stock due to the spin-off of a portion of the issuer’s business. The shares cannot be sold or transferred and are not listed on any stock exchange. The restricted shares have no carrying value on the Company’s Consolidated Balance Sheets as of December 31, 2025.

v3.26.1
LOANS
 12 Months Ended
Dec. 31, 2025
LOANS  
LOANS

6. LOANS

The segments of the Company’s loan portfolio are disaggregated into classes that allow management to monitor risk and performance. The loan classes used are consistent with the internal reports evaluated by the Company’s management and Board of Directors to monitor risk and performance within various segments of its loan portfolio. The commercial loan segment includes both the owner occupied commercial real estate loan and the commercial and industrial loan classes. The commercial real estate loan segment includes the non-owner occupied commercial real estate loan classes of retail, multi-family, and other. The residential mortgage loan segment is comprised of first lien amortizing residential

mortgage loans while the consumer loan segment consists primarily of home equity loans secured by residential real estate, installment loans, and overdraft lines of credit associated with customer deposit accounts.

​

The loan portfolio of the Company consists of the following:

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Commercial:

​

​

​

​

​

​

Commercial real estate (owner occupied) (1)

​

$

85,233

​

$

86,953

Commercial and industrial

​

​

144,325

​

​

147,251

Commercial real estate (non-owner occupied):

 

​

​

​

​

​

Retail (1)

​

​

171,530

​

​

181,778

Multi-family (1)

​

​

131,085

​

​

132,364

Other (1)

​

​

217,935

​

​

233,882

Residential mortgages (1)

 

​

169,814

​

​

177,110

Consumer

 

​

112,805

​

​

108,611

Loans, net of unearned income

​

$

1,032,727

​

$

1,067,949

(1)Real estate construction loans constituted 5.0% and 3.6% of the Company’s total loans, net of unearned income as of December 31, 2025 and 2024, respectively.

Loan balances at December 31, 2025 and 2024 are net of unearned income of $466,000 and $517,000, respectively.

The Company has no exposure to subprime mortgage loans in either the loan or investment portfolios. The Company has no direct loan exposures to sovereign or non-sovereign (i.e. financial institutions and corporations) borrowers within foreign countries experiencing significant economic, fiscal, and/or political strains.

The Company has no significant industry lending concentrations. Specifically, as of December 31, 2025 and 2024, loans to customers engaged in similar activities and having similar economic characteristics, as defined by standard industrial classifications, did not exceed 10% of total loans. Additionally, the majority of the Company’s lending occurs within a 250-mile radius of the Johnstown market.

In the ordinary course of business, the Company has transactions, including loans, with its officers, directors, and their affiliated companies. In management’s opinion, these transactions were on substantially the same terms as those prevailing at the time for comparable transactions with unaffiliated parties and do not involve more than the normal credit risk. These loans totaled $499,000 and $540,000 at December 31, 2025 and 2024, respectively.

The following tables summarize the loan activity with related parties for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

​

​

BALANCE AT DECEMBER 31, 2024

​

ADDITIONS

​

REPAYMENTS

​

BALANCE AT DECEMBER 31, 2025

Loans to related parties

​

$

540

​

$

110

​

$

151

​

$

499

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

​

​

BALANCE AT DECEMBER 31, 2023

​

ADDITIONS

​

REPAYMENTS

​

BALANCE AT DECEMBER 31, 2024

Loans to related parties

​

$

663

​

$

48

​

$

171

​

$

540

​
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS
 12 Months Ended
Dec. 31, 2025
ALLOWANCE FOR CREDIT LOSSES - LOANS  
ALLOWANCE FOR CREDIT LOSSES - LOANS

7. ALLOWANCE FOR CREDIT LOSSES – LOANS

The following tables summarize the roll forward of the allowance for credit losses by loan portfolio segment for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT

​

CHARGE-

​

​

​

​

PROVISION 

​

BALANCE AT

​

  ​ ​ ​

DECEMBER 31, 2024

​

OFFS

  ​ ​ ​

RECOVERIES

  ​ ​ ​

(RECOVERY)

  ​ ​ ​

DECEMBER 31, 2025

Commercial real estate (owner occupied)

​

$

398

​

$

—

​

$

24

​

$

(103)

​

$

319

Commercial and industrial

​

 

2,860

​

 

(1,774)

​

 

65

​

 

1,836

​

 

2,987

Commercial real estate (non-owner occupied) - retail

​

 

3,695

​

 

—

​

 

—

​

 

(447)

​

 

3,248

Commercial real estate (non-owner occupied) - multi-family

​

 

1,478

​

 

—

​

 

—

​

 

(75)

​

 

1,403

Other commercial real estate (non-owner occupied)

​

 

3,451

​

 

(3,145)

​

 

12

​

 

3,407

​

 

3,725

Residential mortgages

​

 

839

​

 

—

​

 

5

​

 

(548)

​

 

296

Consumer

​

 

1,191

​

 

(154)

​

 

75

​

 

38

​

 

1,150

Total

​

$

13,912

​

$

(5,073)

​

$

181

​

$

4,108

​

$

13,128

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT

​

CHARGE-

​

​

​

​

PROVISION 

​

BALANCE AT

​

  ​ ​ ​

DECEMBER 31, 2023

​

OFFS

  ​ ​ ​

RECOVERIES

  ​ ​ ​

(RECOVERY)

  ​ ​ ​

DECEMBER 31, 2024

Commercial real estate (owner occupied)

​

$

1,529

​

$

—

​

$

24

​

$

(1,155)

​

$

398

Commercial and industrial

​

 

3,030

​

 

(427)

​

 

45

​

 

212

​

 

2,860

Commercial real estate (non-owner occupied) - retail

​

 

3,488

​

 

—

​

 

—

​

 

207

​

 

3,695

Commercial real estate (non-owner occupied) - multi-family

​

 

1,430

​

 

—

​

 

3

​

 

45

​

 

1,478

Other commercial real estate (non-owner occupied)

​

 

3,428

​

 

(1,571)

​

 

11

​

 

1,583

​

 

3,451

Residential mortgages

​

 

1,021

​

 

—

​

 

18

​

 

(200)

​

 

839

Consumer

​

 

1,127

​

 

(207)

​

 

81

​

 

190

​

 

1,191

Total

​

$

15,053

​

$

(2,205)

​

$

182

​

$

882

​

$

13,912

​

The Company recorded a $4.1 million provision for credit losses on the loan portfolio in 2025 compared to a provision of $882,000 for the year ended December 31, 2024, resulting in an unfavorable change of $3.2 million. The significant increase in the provision for credit losses for 2025 primarily reflects the charge-off activity during the year. Specifically, a $3.1 million charge-off was necessary to resolve the Company’s largest problem commercial real estate loan secured by a mixed use retail/office property in the Pittsburgh market, in addition to charge-offs of $1.8 million within the commercial and industrial loan segment. The Company recognized net loan charge-offs of $4.9 million, or 0.46% of total average loans, in 2025 compared to net loan charge-offs of $2.0 million, or 0.19% of total average loans, in 2024. Tempering the impact from the charge-offs on the 2025 provision expense was a year-over-year contraction in outstanding loan balances.

The lower provision for credit losses for 2024 reflected provision recoveries recognized for the loan portfolio during the first and third quarters. These recoveries were more than offset by the fourth quarter 2024 provision expense which was unfavorably impacted by increased loss rates, due to charge-off activity, as well as strong loan growth.

The following tables summarize the loan portfolio and allowance for credit losses by the primary segments of the loan portfolio.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

​

​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

Loans:

  ​ ​ ​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Individually evaluated

​

$

2,875

​

$

2,148

​

$

415

​

$

—

​

$

2,034

​

$

155

​

$

—

​

$

7,627

Collectively evaluated

​

 

82,358

​

 

142,177

​

 

171,115

​

 

131,085

​

 

215,901

​

 

169,659

​

 

112,805

​

 

1,025,100

Total loans

​

$

85,233

​

$

144,325

​

$

171,530

​

$

131,085

​

$

217,935

​

$

169,814

​

$

112,805

​

$

1,032,727

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

Allowance for

​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

credit losses:

  ​ ​ ​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Specific reserve allocation

​

$

—

​

$

558

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

558

General reserve allocation

​

 

319

​

 

2,429

​

 

3,248

​

 

1,403

​

 

3,725

​

 

296

​

 

1,150

​

 

12,570

Total allowance for credit losses

​

$

319

​

$

2,987

​

$

3,248

​

$

1,403

​

$

3,725

​

$

296

​

$

1,150

​

$

13,128

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

​

  ​ ​ ​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

Loans:

​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Individually evaluated

​

$

3,429

​

$

1,675

​

$

—

​

$

—

​

$

8,773

​

$

379

​

$

10

​

$

14,266

Collectively evaluated

​

 

83,524

​

 

145,576

​

 

181,778

​

 

132,364

​

 

225,109

​

 

176,731

​

 

108,601

​

 

1,053,683

Total loans

​

$

86,953

​

$

147,251

​

$

181,778

​

$

132,364

​

$

233,882

​

$

177,110

​

$

108,611

​

$

1,067,949

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

Allowance for

​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

credit losses:

​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

  ​ ​ ​

(IN THOUSANDS)

Specific reserve allocation

​

$

—

​

$

541

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

541

General reserve allocation

​

 

398

​

 

2,319

​

 

3,695

​

 

1,478

​

 

3,451

​

 

839

​

 

1,191

​

 

13,371

Total allowance for credit losses

​

$

398

​

$

2,860

​

$

3,695

​

$

1,478

​

$

3,451

​

$

839

​

$

1,191

​

$

13,912

​

The following tables present the amortized cost basis of collateral-dependent loans which were individually evaluated for a specific reserve allocation in the allowance for credit losses by class of loans (in thousands).

​

​

​

​

​

​

​

​

​

COLLATERAL TYPE

DECEMBER 31, 2025

​

REAL ESTATE

​

BUSINESS ASSETS

Commercial:

​

​

​

​

​

​

Commercial real estate (owner occupied)

​

$

2,774

​

$

101

Commercial and industrial

​

​

1,362

​

​

72

Commercial real estate (non-owner occupied):

​

​

​

 

​

​

Retail

​

​

415

​

​

—

Other

​

​

2,034

​

​

—

Residential mortgages

​

​

155

 

​

—

Total

​

$

6,740

​

$

173

​

​

​

​

​

​

​

COLLATERAL TYPE

DECEMBER 31, 2024

​

REAL ESTATE

Commercial:

​

​

​

Commercial real estate (owner occupied)

​

$

3,429

Commercial and industrial

​

​

1,000

Commercial real estate (non-owner occupied):

​

​

​

Other

​

​

8,773

Residential mortgages

​

​

378

Consumer

​

​

10

Total

​

$

13,590

​

Non-Performing Assets from the Loan Portfolio

​

Non-performing assets from the loan portfolio are comprised of (i) loans which are on a non-accrual basis, (ii) loans which are contractually past due 90 days or more as to interest or principal payments, and (iii) other real estate owned (OREO – real estate acquired through foreclosure and in-substance foreclosures) and repossessed assets.

​

Loans will be transferred to non-accrual status when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating the loan include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The following table presents non-accrual loans, loans past due 90 days or more still accruing interest, and OREO and repossessed assets by portfolio class (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

  ​ ​ ​

NON-ACCRUAL WITH NO ACL

  ​ ​ ​

NON-ACCRUAL WITH ACL

  ​ ​ ​

TOTAL NON-ACCRUAL

  ​ ​ ​

LOANS PAST DUE 90 DAYS OR MORE STILL ACCRUING

​

OREO AND REPOSSESSED ASSETS

  ​ ​ ​

TOTAL NON-PERFORMING ASSETS

Commercial real estate (owner occupied)

​

$

2,875

​

$

—

​

$

2,875

​

$

—

​

$

—

​

$

2,875

Commercial and industrial

​

​

1,437

​

​

714

​

​

2,151

​

​

—

​

​

216

​

​

2,367

Commercial real estate (non-owner occupied) - retail

​

​

415

​

​

—

​

​

415

​

​

—

​

​

—

​

​

415

Other commercial real estate (non-owner occupied)

​

​

2,034

​

​

—

​

​

2,034

​

​

—

​

​

—

​

​

2,034

Residential mortgages

​

​

155

​

​

51

​

​

206

​

​

10

​

​

—

​

​

216

Consumer

​

​

—

​

​

611

​

​

611

​

​

—

​

​

—

​

​

611

Total

​

$

6,916

​

$

1,376

​

$

8,292

​

$

10

​

$

216

​

$

8,518

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

  ​ ​ ​

NON-ACCRUAL WITH NO ACL

  ​ ​ ​

NON-ACCRUAL WITH ACL

  ​ ​ ​

TOTAL NON-ACCRUAL

  ​ ​ ​

LOANS PAST DUE 90 DAYS OR MORE STILL ACCRUING

​

OREO AND REPOSSESSED ASSETS

  ​ ​ ​

TOTAL NON-PERFORMING ASSETS

Commercial real estate (owner occupied)

​

$

152

​

$

—

​

$

152

​

$

—

​

$

—

​

$

152

Commercial and industrial

​

​

—

​

​

675

​

​

675

​

​

97

​

​

234

​

​

1,006

Other commercial real estate (non-owner occupied)

​

​

8,773

​

​

—

​

​

8,773

​

​

—

​

​

1,476

​

​

10,249

Residential mortgages

​

​

379

​

​

—

​

​

379

​

​

26

​

​

14

​

​

419

Consumer

​

​

10

​

​

821

​

​

831

​

​

—

​

​

—

​

​

831

Total

​

$

9,314

​

$

1,496

​

$

10,810

​

$

123

​

$

1,724

​

$

12,657

​

It should be noted that the Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed in non-accrual status, any outstanding interest is reversed against interest income.

​

Non-performing assets from the loan portfolio decreased from $12.7 million at December 31, 2024 to $8.5 million at December 31, 2025. Non-performing assets from the loan portfolio were at 0.82% of total loans as of December 31, 2025 compared to 1.19% of total loans as of December 31, 2024. In summary, the allowance for credit losses provided 158% coverage of non-performing loans and 1.27% of total loans at December 31, 2025 compared to 127% coverage of non-performing loans and 1.30% of total loans at December 31, 2024.

Foreclosed assets acquired in settlement of loans are carried at fair value less estimated costs to sell and are included in other real estate owned and repossessed assets on the Consolidated Balance Sheets. The Company had no foreclosed residential real estate included in other real estate owned and repossessed assets as of December 31, 2025 compared to $14,000 as of December 31, 2024. As of December 31, 2025, the Company had initiated formal foreclosure procedures on $130,000 of residential mortgages.

Credit Quality Indicators

​

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually to classify the loans as to credit risk.

​

Management uses a nine-point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized. The first five pass categories are aggregated, while the pass-6, special mention, substandard and doubtful categories are disaggregated to separate pools. The criticized rating categories utilized by management generally follow bank regulatory definitions. The special mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a substandard classification. Loans in the substandard category have well-defined weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. Loans in the doubtful category have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. All loans greater than 90 days past due, or for which any portion of the loan represents a specific allocation of the allowance for credit losses are typically placed in substandard or doubtful.

To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan rating process, which dictates that, at a minimum, credit reviews are mandatory for all commercial and commercial mortgage loan relationships with aggregate balances in excess of $1,000,000 within a 12-month period. Generally, consumer and residential mortgage loans are included in the pass categories unless a specific action, such as bankruptcy, delinquency, or death occurs to raise awareness of a possible credit event. The Company’s commercial relationship managers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. Risk ratings are assigned by the account officer, but require independent review and rating concurrence from the Company’s internal Loan Review Department. The Loan Review Department is an experienced, independent function which reports directly to the Board’s Audit Committee. The scope of commercial portfolio coverage by the Loan Review Department is defined and presented to the Audit Committee for approval on an annual basis. The actual loan review coverage for the year ended December 31, 2025 was 43% of the commercial loan portfolio.

In addition to loan monitoring by the account officer and Loan Review Department, the Company also requires presentation of all credits rated pass-6 with aggregate balances greater than $2,000,000, all credits rated special mention or substandard with aggregate balances greater than $250,000, and all credits rated doubtful with aggregate balances greater than $100,000 on an individual basis to the Company’s Loan Loss Reserve Committee on a quarterly basis. Additionally, the Asset Quality Task Force, which is a group comprised of senior level personnel, meets monthly to monitor the status of problem loans.

The following tables present the classes of the commercial and commercial real estate loan portfolios summarized by the aggregate pass and the criticized categories of special mention, substandard and doubtful within the internal risk rating system.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

8,901

​

$

10,312

​

$

16,564

​

$

6,050

​

$

9,460

​

$

29,511

​

$

433

​

$

—

​

$

81,231

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

520

​

​

223

​

​

—

​

​

743

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,738

​

​

521

​

​

—

​

​

—

​

​

3,259

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

8,901

​

$

10,312

​

$

16,564

​

$

6,050

​

$

12,198

​

$

30,552

​

$

656

​

$

—

​

$

85,233

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial and industrial

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

22,994

​

$

10,640

​

$

14,643

​

$

12,800

​

$

5,307

​

$

18,626

​

$

50,490

​

$

5,010

​

$

140,510

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

1,240

​

​

—

​

​

1,240

Substandard

​

​

—

​

​

—

​

​

—

​

​

307

​

​

363

​

​

304

​

​

1,178

​

​

25

​

​

2,177

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

398

​

​

—

​

​

—

​

​

398

Total

​

$

22,994

​

$

10,640

​

$

14,643

​

$

13,107

​

$

5,670

​

$

19,328

​

$

52,908

​

$

5,035

​

$

144,325

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

200

​

$

1,396

​

$

178

​

$

—

​

$

—

​

$

1,774

Commercial real estate (non-owner occupied) - retail

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

17,984

​

$

26,374

​

$

35,435

​

$

14,284

​

$

30,707

​

$

46,305

​

$

26

​

$

—

​

$

171,115

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

415

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

415

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

17,984

​

$

26,374

​

$

35,850

​

$

14,284

​

$

30,707

​

$

46,305

​

$

26

​

$

—

​

$

171,530

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial real estate (non-owner occupied) - multi-family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

9,762

​

$

24,594

​

$

32,750

​

$

11,515

​

$

15,867

​

$

34,378

​

$

24

​

$

—

​

$

128,890

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,195

​

​

—

​

​

—

​

​

2,195

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

9,762

​

$

24,594

​

$

32,750

​

$

11,515

​

$

15,867

​

$

36,573

​

$

24

​

$

—

​

$

131,085

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Other commercial real estate (non-owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

23,090

​

$

22,060

​

$

27,401

​

$

32,037

​

$

40,743

​

$

58,392

​

$

6,973

​

$

—

​

$

210,696

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

5,205

​

​

—

​

​

—

​

​

5,205

Substandard

​

​

—

​

​

—

​

​

—

​

​

180

​

​

—

​

​

1,854

​

​

—

​

​

—

​

​

2,034

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

23,090

​

$

22,060

​

$

27,401

​

$

32,217

​

$

40,743

​

$

65,451

​

$

6,973

​

$

—

​

$

217,935

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

3,145

​

$

—

​

$

—

​

$

3,145

Total by risk rating

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

82,731

​

$

93,980

​

$

126,793

​

$

76,686

​

$

102,084

​

$

187,212

​

$

57,946

​

$

5,010

​

$

732,442

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

5,725

​

​

1,463

​

​

—

​

​

7,188

Substandard

​

​

—

​

​

—

​

​

415

​

​

487

​

​

3,101

​

​

4,874

​

​

1,178

​

​

25

​

​

10,080

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

398

​

​

—

​

​

—

​

​

398

Total

​

$

82,731

​

$

93,980

​

$

127,208

​

$

77,173

​

$

105,185

​

$

198,209

​

$

60,587

​

$

5,035

​

$

750,108

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

200

​

$

1,396

​

$

3,323

​

$

—

​

$

—

​

$

4,919

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

2020

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

10,294

​

$

17,016

​

$

6,648

​

$

10,675

​

$

10,476

​

$

26,393

​

$

324

​

$

856

​

$

82,682

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

—

​

​

3,680

​

​

—

​

​

591

​

​

—

​

​

—

​

​

4,271

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

10,294

​

$

17,016

​

$

6,648

​

$

14,355

​

$

10,476

​

$

26,984

​

$

324

​

$

856

​

$

86,953

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial and industrial

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

16,714

​

$

19,357

​

$

20,977

​

$

7,397

​

$

4,568

​

$

19,280

​

$

54,455

​

$

—

​

$

142,748

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

480

​

​

409

​

​

1,753

​

​

—

​

​

689

​

​

1,172

​

​

—

​

​

4,503

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

16,714

​

$

19,837

​

$

21,386

​

$

9,150

​

$

4,568

​

$

19,969

​

$

55,627

​

$

—

​

$

147,251

Current period gross charge-offs

​

$

—

​

$

—

​

$

427

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

427

Commercial real estate (non-owner occupied) - retail

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

29,349

​

$

38,912

​

$

20,935

​

$

31,934

​

$

21,322

​

$

38,047

​

$

32

​

$

942

​

$

181,473

Special Mention

​

​

—

​

​

—

​

​

305

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

305

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

29,349

​

$

38,912

​

$

21,240

​

$

31,934

​

$

21,322

​

$

38,047

​

$

32

​

$

942

​

$

181,778

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial real estate (non-owner occupied) - multi-family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

25,984

​

$

28,807

​

$

16,423

​

$

16,816

​

$

11,513

​

$

30,066

​

$

475

​

$

—

​

$

130,084

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

915

​

​

1,365

​

​

—

​

​

—

​

​

2,280

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

25,984

​

$

28,807

​

$

16,423

​

$

16,816

​

$

12,428

​

$

31,431

​

$

475

​

$

—

​

$

132,364

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Other commercial real estate (non-owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

27,801

​

$

32,514

​

$

35,365

​

$

40,876

​

$

16,226

​

$

61,619

​

$

4,537

​

$

194

​

$

219,132

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

3,488

​

​

—

​

​

—

​

​

3,488

Substandard

​

​

—

​

​

—

​

​

569

​

​

199

​

​

—

​

​

10,494

​

​

—

​

​

—

​

​

11,262

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

27,801

​

$

32,514

​

$

35,934

​

$

41,075

​

$

16,226

​

$

75,601

​

$

4,537

​

$

194

​

$

233,882

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

1,571

​

$

—

​

$

—

​

$

1,571

Total by risk rating

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

110,142

​

$

136,606

​

$

100,348

​

$

107,698

​

$

64,105

​

$

175,405

​

$

59,823

​

$

1,992

​

$

756,119

Special Mention

​

​

—

​

​

—

​

​

305

​

​

—

​

​

—

​

​

3,488

​

​

—

​

​

—

​

​

3,793

Substandard

​

​

—

​

​

480

​

​

978

​

​

5,632

​

​

915

​

​

13,139

​

​

1,172

​

​

—

​

​

22,316

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

110,142

​

$

137,086

​

$

101,631

​

$

113,330

​

$

65,020

​

$

192,032

​

$

60,995

​

$

1,992

​

$

782,228

Current period gross charge-offs

​

$

—

​

$

—

​

$

427

​

$

—

​

$

—

​

$

1,571

​

$

—

​

$

—

​

$

1,998

​

It is generally the policy of the Bank that the outstanding balance of any residential mortgage or home equity loan that exceeds 90-days past due as to principal and/or interest is transferred to non-accrual status and an evaluation is completed to determine the fair value of the collateral less selling costs, unless the balance is minor. A charge-down is recorded for any deficiency balance determined from the collateral evaluation. It is generally the policy of the Bank that the outstanding balance of any unsecured consumer loan that exceeds 90-days past due as to principal and/or interest is charged off. Loans past due 90 days or more and loans in non-accrual status are considered non-performing. The following tables present the performing and non-performing outstanding balances of the residential mortgage and consumer loan portfolio classes.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Residential mortgages

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

4,377

​

$

13,914

​

$

15,006

​

$

10,054

​

$

53,478

​

$

72,769

​

$

—

​

$

—

​

$

169,598

Non-performing

​

​

—

​

​

—

​

​

—

​

​

—

​

​

155

​

​

61

​

​

—

​

​

—

​

​

216

Total

​

$

4,377

​

$

13,914

​

$

15,006

​

$

10,054

​

$

53,633

​

$

72,830

​

$

—

​

$

—

​

$

169,814

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

11,546

​

$

8,581

​

$

7,999

​

$

12,952

​

$

5,820

​

$

5,363

​

$

59,823

​

$

110

​

$

112,194

Non-performing

​

​

—

​

​

5

​

​

75

​

​

17

​

​

—

​

​

322

​

​

192

​

​

—

​

​

611

Total

​

$

11,546

​

$

8,586

​

$

8,074

​

$

12,969

​

$

5,820

​

$

5,685

​

$

60,015

​

$

110

​

$

112,805

Current period gross charge-offs

​

$

1

​

$

28

​

$

41

​

$

8

​

$

1

​

$

75

​

$

—

​

$

—

​

$

154

Total by payment performance

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

15,923

​

$

22,495

​

$

23,005

​

$

23,006

​

$

59,298

​

$

78,132

​

$

59,823

​

$

110

​

$

281,792

Non-performing

​

​

—

​

​

5

​

​

75

​

​

17

​

​

155

​

​

383

​

​

192

​

​

—

​

​

827

Total

​

$

15,923

​

$

22,500

​

$

23,080

​

$

23,023

​

$

59,453

​

$

78,515

​

$

60,015

​

$

110

​

$

282,619

Current period gross charge-offs

​

$

1

​

$

28

​

$

41

​

$

8

​

$

1

​

$

75

​

$

—

​

$

—

​

$

154

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

2020

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Residential mortgages

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

12,877

​

$

15,602

​

$

10,400

​

$

57,540

​

$

41,868

​

$

38,418

​

$

—

​

$

—

​

$

176,705

Non-performing

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

405

​

​

—

​

​

—

​

​

405

Total

​

$

12,877

​

$

15,602

​

$

10,400

​

$

57,540

​

$

41,868

​

$

38,823

​

$

—

​

$

—

​

$

177,110

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

11,476

​

$

10,988

​

$

16,397

​

$

7,605

​

$

2,475

​

$

4,299

​

$

53,876

​

$

664

​

$

107,780

Non-performing

​

​

—

​

​

110

​

​

46

​

​

—

​

​

59

​

​

344

​

​

272

​

​

—

​

​

831

Total

​

$

11,476

​

$

11,098

​

$

16,443

​

$

7,605

​

$

2,534

​

$

4,643

​

$

54,148

​

$

664

​

$

108,611

Current period gross charge-offs

​

$

5

​

$

6

​

$

21

​

$

19

​

$

13

​

$

143

​

$

—

​

$

—

​

$

207

Total by payment performance

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

24,353

​

$

26,590

​

$

26,797

​

$

65,145

​

$

44,343

​

$

42,717

​

$

53,876

​

$

664

​

$

284,485

Non-performing

​

​

—

​

​

110

​

​

46

​

​

—

​

​

59

​

​

749

​

​

272

​

​

—

​

​

1,236

Total

​

$

24,353

​

$

26,700

​

$

26,843

​

$

65,145

​

$

44,402

​

$

43,466

​

$

54,148

​

$

664

​

$

285,721

Current period gross charge-offs

​

$

5

​

$

6

​

$

21

​

$

19

​

$

13

​

$

143

​

$

—

​

$

—

​

$

207

​

Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

30 – 59

​

60 – 89

​

90 OR MORE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DAYS

​

DAYS

​

DAYS

​

TOTAL

​

NON-

​

TOTAL

​

  ​ ​ ​

CURRENT

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

ACCRUAL

  ​ ​ ​

LOANS

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

$

82,358

​

$

—

​

$

—

​

$

—

​

$

—

​

$

2,875

​

$

85,233

Commercial and industrial

​

​

141,691

​

​

455

​

​

28

​

​

—

​

​

483

​

​

2,151

​

​

144,325

Commercial real estate (non-owner occupied) - retail

​

 

171,115

​

 

—

​

​

—

​

 

—

​

 

—

​

 

415

​

​

171,530

Commercial real estate (non-owner occupied) - multi-family

​

 

131,085

​

 

—

​

​

—

​

 

—

​

 

—

​

 

—

​

​

131,085

Other commercial real estate (non-owner occupied)

​

​

215,901

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,034

​

​

217,935

Residential mortgages

​

 

168,602

​

 

926

​

​

70

​

 

10

​

 

1,006

​

 

206

​

​

169,814

Consumer

​

 

111,354

​

 

728

​

​

112

​

 

—

​

 

840

​

 

611

​

​

112,805

Total

​

$

1,022,106

​

$

2,109

​

$

210

​

$

10

​

$

2,329

​

$

8,292

​

$

1,032,727

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

30 – 59

​

60 – 89

​

90 OR MORE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DAYS

​

DAYS

​

DAYS

​

TOTAL

​

NON-

​

TOTAL

​

  ​ ​ ​

CURRENT

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

ACCRUAL

  ​ ​ ​

LOANS

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

$

86,368

​

$

433

​

$

—

​

$

—

​

$

433

​

$

152

​

$

86,953

Commercial and industrial

​

​

144,627

​

​

1,852

​

​

—

​

​

97

​

​

1,949

​

​

675

​

​

147,251

Commercial real estate (non-owner occupied) - retail

​

 

181,778

​

 

—

​

​

—

​

 

—

​

 

—

​

 

—

​

​

181,778

Commercial real estate (non-owner occupied) - multi-family

​

 

132,364

​

 

—

​

​

—

​

 

—

​

 

—

​

 

—

​

​

132,364

Other commercial real estate (non-owner occupied)

​

​

224,914

​

​

195

​

​

—

​

​

—

​

​

195

​

​

8,773

​

​

233,882

Residential mortgages

​

 

175,817

​

 

852

​

​

36

​

 

26

​

 

914

​

 

379

​

​

177,110

Consumer

​

 

106,796

​

 

948

​

​

36

​

 

—

​

 

984

​

 

831

​

​

108,611

Total

​

$

1,052,664

​

$

4,280

​

$

72

​

$

123

​

$

4,475

​

$

10,810

​

$

1,067,949

​

Loan Modifications to Borrowers Experiencing Financial Difficulty

​

Occasionally, the Company modifies loans to borrowers experiencing financial difficulty as a result of our loss mitigation activities. A variety of solutions are offered to borrowers, including loan modifications that may result in principal forgiveness, interest rate reductions, term extensions, payment delays, or combinations thereof.

​

●Principal forgiveness includes principal and accrued interest forgiveness. When principal forgiveness is provided, the amount of forgiveness is charged off against the ACL.
●Interest rate reductions include modifications where the interest rate is reduced, and interest is deferred.
●Term extensions extend the original contractual maturity date of the loan.
●Payment delays consist of modifications where we expect to collect the contractual amounts due but result in a delay in the receipt of payments specified under the original loan terms. We generally consider payment delays to be insignificant when the delay is three months or less.

​

The following tables summarize the amortized cost basis of loans modified to borrowers experiencing financial difficulty during the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

​

​

​

TERM EXTENSION

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Other commercial real estate (non-owner occupied)

​

$

2,349

​

​

1.08

%

Residential mortgages

​

​

191

​

​

0.11

%

Total

​

$

2,540

​

​

​

​

​

As of December 31, 2025, the modified loans described in the table above were current as to payments.

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

​

​

​

PAYMENT DELAY

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Commercial real estate (owner occupied)

​

$

152

​

​

0.17

%

Total

​

$

152

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TERM EXTENSION

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Commercial and industrial

​

$

154

​

​

0.10

%

Total

​

$

154

​

​

​

​

​

​

​

​

​

​

​

​

​

​

COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Commercial and industrial

​

$

480

​

​

0.33

%

Total

​

$

480

​

​

​

​

​

At December 31, 2025 and 2024, the Company had no unfunded loan commitments associated with the loan modifications to borrowers experiencing financial difficulty.

​

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty during the years ended December 31, 2025 and 2024.

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

TERM EXTENSION

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Other commercial real estate (non-owner occupied)

​

Provided a maturity date extension of 15 months. In connection with the modification, the borrower pledged a $1.0 million Bank deposit as additional collateral.

Residential mortgages

​

Provided a maturity date extension of 230 months (approximately 19 years).

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

PAYMENT DELAY

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Commercial real estate (owner occupied)

​

Provided 60 months of additional amortization period to lower borrower's monthly payment.

​

​

​

TERM EXTENSION

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Commercial and industrial

​

During the first, second, and third quarters of 2024, provided a maturity date extension of 90 days and modified seasonal principal and interest payments to interest only until maturity. During the fourth quarter of 2024, provided the same borrower an additional maturity date extension of one year and required monthly principal and interest payments.

​

​

​

COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Commercial and industrial

​

As a result of the borrower's bankruptcy, the maturity date of the loan was extended four years and a portion of the principal balance was converted to an equity investment in the borrower.

​

The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The Company had no loans which were modified to borrowers experiencing financial difficulty which subsequently defaulted during the year ended December 31, 2025. An other commercial real estate (non-owner occupied) loan modified during the second quarter of 2023 was in non-accrual status and significantly past due as of December 31, 2024. The loan was secured by a mixed use (retail/office) property located within the City of Pittsburgh, but not in the downtown central business district. The loan was considered in default and the Company initiated formal foreclosure procedures on the property during 2024. Further, the property was sold during the fourth quarter of 2025, resulting in the pay-off and final charge-off of the loan as of December 31, 2025.
v3.26.1
PREMISES AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
PREMISES AND EQUIPMENT  
PREMISES AND EQUIPMENT

8. PREMISES AND EQUIPMENT

An analysis of premises and equipment follows:

​

​

​

​

​

​

​

​

​

​

AT  DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Land

​

$

1,225

​

$

1,225

Premises

​

 

28,225

​

 

29,696

Furniture and equipment

​

 

8,177

​

 

8,097

Leasehold improvements

​

 

1,236

​

 

1,229

Total at cost

​

 

38,863

​

 

40,247

Less: Accumulated depreciation and amortization

​

 

24,934

​

 

26,019

Premises and equipment, net

​

$

13,929

​

$

14,228

​

The Company recorded depreciation and amortization expense of $1.7 million for the years ended December 31, 2025 and 2024.

The Company utilizes a contract cleaner to provide janitorial services for several office locations. The contract cleaner is owned by a Director of the Company. The amount paid to this related party totaled $232,000 and $233,000 for the years ended December 31, 2025 and 2024, respectively.
v3.26.1
LEASE COMMITMENTS
 12 Months Ended
Dec. 31, 2025
LEASE COMMITMENTS  
LEASE COMMITMENTS

9. LEASE COMMITMENTS

The Company has operating and financing leases for several office locations and equipment. Several assumptions and judgments were made when applying the requirements of ASC 842 to the Company’s lease commitments, including the allocation of consideration in the contracts between lease and non-lease components, determination of the lease term, and determination of the discount rate used in calculating the present value of the lease payments. See Note 1 for information on policy elections.

The following table presents the lease cost associated with both operating and financing leases for the years ended December 31, 2025 and 2024.

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

​

2025

​

​

2024

​

​

(IN THOUSANDS)

Lease cost

​

​

​

​

​

  ​

Financing lease cost

​

​

​

​

​

  ​

Amortization of right-of-use asset

​

$

225

​

$

225

Interest expense

​

 

100

​

 

108

Operating lease cost

​

​

252

​

​

251

Total lease cost

​

$

577

​

$

584

Cash paid on leases

​

​

​

​

​

  ​

Financing leases

​

$

288

​

$

276

Operating leases

​

​

244

​

​

241

Total cash paid on leases

​

$

532

​

$

517

​

The following table presents the weighted-average remaining lease term and discount rate for the leases outstanding at December 31, 2025 and 2024.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 

​

​

2025

​

​

2024

​

​

  ​ ​ ​

OPERATING

​

  ​ ​ ​

FINANCING

​

​

OPERATING

​

  ​ ​ ​

FINANCING

​

Weighted-average remaining term (years)

 

7.5

​

 

12.3

​

​

8.5

​

 

13.1

​

Weighted-average discount rate

 

4.30

%

​

3.84

%

​

4.31

%

​

3.86

%

​

The following table presents the undiscounted cash flows due related to operating and financing leases as of December 31, 2025 and 2024, along with a reconciliation to the discounted amount recorded on the Consolidated Balance Sheets.

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

  ​ ​ ​

OPERATING

  ​ ​ ​

FINANCING

​

​

(IN THOUSANDS)

Undiscounted cash flows due in:

​

​

​

​

​

​

2026

​

$

240

​

$

291

2027

​

 

208

​

 

278

2028

​

 

205

​

 

246

2029

​

 

207

​

 

223

2030

​

 

210

​

 

233

Thereafter

​

 

610

​

 

1,895

Total undiscounted cash flows

​

 

1,680

​

 

3,166

Discount on cash flows

​

 

(254)

​

 

(665)

Total lease liabilities

​

$

1,426

​

$

2,501

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

  ​ ​ ​

OPERATING

  ​ ​ ​

FINANCING

​

​

(IN THOUSANDS)

Undiscounted cash flows due in:

​

​

​

​

​

​

2025

​

$

233

​

$

288

2026

​

 

223

​

 

291

2027

​

 

202

​

 

278

2028

​

 

205

​

 

246

2029

​

 

207

​

 

223

Thereafter

​

 

821

​

 

2,128

Total undiscounted cash flows

​

 

1,891

​

 

3,454

Discount on cash flows

​

 

(319)

​

 

(765)

Total lease liabilities

​

$

1,572

​

$

2,689

​

The Company leased approximately 1,049 square feet of office space within its headquarters building to a Director of the Company until February 20, 2025. The amount paid by this related party totaled $2,000 and $13,000 for the years ended December 31, 2025 and 2024, respectively, and is reported in net occupancy expense on the Consolidated Statements of Operations.
v3.26.1
DEPOSITS
 12 Months Ended
Dec. 31, 2025
DEPOSITS.  
DEPOSITS

10. DEPOSITS

The following table sets forth the balance of the Company’s deposits:

​

​

​

​

​

​

​

​

​

​

AT  DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Demand:

 

​

  ​

 

​

  ​

Non-interest bearing

​

$

159,198

​

$

171,622

Interest bearing

​

 

322,155

​

 

342,158

Savings

​

 

123,075

​

 

119,479

Money market

​

 

265,953

​

 

231,424

Time deposits (1)

​

 

377,747

​

 

336,312

Total deposits

​

$

1,248,128

​

$

1,200,995

(1)Time deposits include certificates of deposit (CDs) and individual retirement accounts (IRAs).

​

The following table sets forth the balance of time deposits as of December 31, 2025 maturing in the periods presented:

​

​

​

​

​

​

YEAR:

  ​ ​ ​

TIME DEPOSITS

  ​ ​ ​

​

 

(IN THOUSANDS)

​

2026

​

$

301,216

​

2027

​

 

61,461

​

2028

​

 

5,501

​

2029

​

 

4,386

​

2030

​

 

2,733

​

2031 and after

​

 

2,450

​

Total

​

$

377,747

​

​

The aggregate amount of time deposits that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2025 and 2024 are $144.3 million and $101.2 million, respectively.

The amount of related party deposits totaled $5,405,000 and $4,219,000 at December 31, 2025 and 2024, respectively.

Additionally, the Company had one deposit relationship that exceeded 5% of total deposits at December 31, 2025. The amount of this relationship totaled $82.6 million and $86.7 million at December 31, 2025 and 2024, respectively.
v3.26.1
BORROWINGS
 12 Months Ended
Dec. 31, 2025
BORROWINGS  
BORROWINGS

11. BORROWINGS

Short-Term Borrowings

​

Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows:

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

 

​

  ​ ​ ​

FEDERAL

  ​ ​ ​

​

​

 

​

​

FUNDS

​

SHORT-TERM

 

​

  ​ ​ ​

PURCHASED

  ​ ​ ​

BORROWINGS

 

​

​

(IN THOUSANDS, EXCEPT RATES)

 

Balance at year-end

​

$

—

​

$

—

​

Maximum balance at any month end

​

 

—

​

 

31,551

​

Average balance during year

​

 

27

​

 

5,528

​

Average rate paid for the year

​

 

4.89

%  

 

4.78

%

Interest rate on year-end balance

​

 

—

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

 

​

  ​ ​ ​

FEDERAL

  ​ ​ ​

​

​

 

​

​

FUNDS

​

SHORT-TERM

 

​

  ​ ​ ​

PURCHASED

  ​ ​ ​

BORROWINGS

 

​

​

(IN THOUSANDS, EXCEPT RATES)

 

Balance at year-end

​

$

—

​

$

14,642

​

Maximum balance at any month end

​

 

—

​

 

36,650

​

Average balance during year

​

 

7

​

 

27,956

​

Average rate paid for the year

​

 

6.59

%  

 

5.66

%

Interest rate on year-end balance

​

 

—

​

 

4.71

​

​

Average amounts outstanding during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances.

The Company has the ability to purchase federal funds under lines with two correspondent banks which have an average maturity of overnight. There were no borrowings under these lines at December 31, 2025 and 2024. In addition, as a member of the Federal Home Loan Bank, the Company’s subsidiary bank can obtain advances on a revolving line of credit (open repo plus), which are typically overnight borrowings and are reported as short-term borrowings. The rate on these advances can change daily. There were no borrowings under the FHLB open repo plus line at December 31, 2025 compared to borrowings of $14.6 million at December 31, 2024.

​

During 2025, the Parent Company established a $3 million revolving line of credit with an unrelated financial institution which can be used for general corporate purposes. Amounts outstanding under the line of credit bear interest at a rate of the daily secured overnight financing rate (SOFR) plus an unadjusted spread of 250-basis points (2.50%) plus a SOFR adjustment of 10-basis points (0.10%). The line of credit expires in May 2026 and is secured by investment securities. Advances under the line are reported as short-term borrowings. There were no borrowings under this line at December 31, 2025.

​

Term Advances from Federal Home Loan Bank (FHLB)

​

Term advances from the FHLB consist of the following:

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 2025

​

​

WEIGHTED

​

​

​

​

  ​ ​ ​

AVERAGE YIELD

  ​ ​ ​

BALANCE

MATURING

​

(IN THOUSANDS, EXCEPT RATES)

2026

 

4.26

%

$

17,770

2027

 

4.23

​

 

15,100

2028

 

4.46

​

 

11,745

Total advances from FHLB

 

4.30

​

$

44,615

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 2024

​

​

WEIGHTED

​

​

​

​

  ​ ​ ​

AVERAGE YIELD

  ​ ​ ​

BALANCE

MATURING

​

(IN THOUSANDS, EXCEPT RATES)

2025

 

4.76

%

$

11,943

2026

​

4.27

​

 

17,270

2027

​

4.23

​

 

15,100

2028

​

4.46

​

 

11,745

Total advances from FHLB

 

4.40

​

$

56,058

​

The Company’s subsidiary Bank is a member of the FHLB which provides this subsidiary with the opportunity to obtain short- to long-term advances based upon the Company’s investment in assets secured by one- to four-family residential real estate and certain types of commercial and commercial real estate loans. Rates on the term advances are fixed until the maturity of the advance. All FHLB stock along with an interest in certain residential mortgage, commercial real estate, and commercial and industrial loans with an aggregate statutory value equal to the amount of the advances, are pledged as collateral to the FHLB of Pittsburgh to support these borrowings and advances on the open repo plus line. At December 31, 2025, the Company had immediately available $311 million of overnight borrowing capability at the FHLB, $41 million of short-term borrowing availability at the Federal Reserve Bank and $35 million of unsecured federal funds lines with correspondent banks.

Subordinated Debt

On August 26, 2021, the Company completed a private placement of $27 million in fixed-to-floating rate subordinated notes to certain accredited investors. The notes mature September 1, 2031 and are non-callable for five years. The notes have a fixed annual interest rate of 3.75%, payable until September 1, 2026. From and including September 1, 2026, the interest rate will reset quarterly to the then-current three-month SOFR plus 3.11%. The subordinated debt was structured to qualify as tier 2 capital under the Federal Reserve’s capital guidelines.

The Company used approximately $20 million of the net proceeds to retire its existing subordinated debt and guaranteed junior subordinated deferrable interest debentures (trust preferred securities) on September 30, 2021. Specifically, the Company retired $12 million of 8.45% trust preferred securities which had been issued on April 28, 1998 and $7.7 million of 6.50% subordinated debt which had been issued on December 29, 2015. The remainder of the proceeds were utilized for general corporate purposes, including the downstream of $3.5 million as capital to the Bank in the third quarter of 2021. The net balance of subordinated debt as of December 31, 2025 and 2024 was $26.8 million and $26.7 million, respectively.
v3.26.1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2025
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS  
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS

12. DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS

The following disclosures establish a hierarchal disclosure framework associated with the level of pricing observability utilized in measuring assets and liabilities at fair value. Financial assets and liabilities are classified in their

entirety based on the lowest level of input that is significant to the fair value measurement. The three broad levels defined within this hierarchy are as follows:

Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date.

Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair valued using other financial instruments, the parameters of which can be directly observed.

Level III: Assets and liabilities that have little to no pricing observability as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.

Equity Securities Without Readily Determinable Fair Values

The Company has entered into a Registration Rights Agreement with a borrower who, upon emergence from bankruptcy, issued ordinary shares in satisfaction of debt previously contracted. The shares are not listed on any stock exchange. Since the shares do not have a readily determinable fair value, they are carried at cost and evaluated for impairment by management. In addition, if management identifies an observable price change in an orderly transaction for an identical or similar investment of the same issuer, the fair value of the equity securities will be measured and adjusted. At December 31, 2025 and 2024, the carrying value of these equity securities was $600,000 which is included in other assets on the Consolidated Balance Sheets. There were no adjustments to the carrying value of equity securities without readily determinable fair values during the years ended December 31, 2025 and 2024.

Additionally, during 2025, the Company received shares of restricted common stock due to the spin-off of a portion of the issuer’s business. The shares cannot be sold or transferred and are not listed on any stock exchange. The restricted shares have no carrying value on the Company’s Consolidated Balance Sheets as of December 31, 2025.

Assets and Liabilities Measured and Recorded on a Recurring Basis

Equity securities are reported at fair value utilizing Level 1 inputs. These securities are mutual funds held within a rabbi trust for the Company’s executive deferred compensation plan. The mutual funds held are open-end funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value and to transact at that price.

Securities classified as available for sale and trading are reported at fair value based on measurements obtained from an independent pricing service. The fair value measurements consider observable data that may include dealer quoted market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. It should be noted that available for sale securities are reported at fair value, net of any related allowance for credit losses.

The fair values of the simultaneous interest rate swaps, the interest rate hedges used for interest rate risk management, and the risk participation agreements associated with certain commercial real estate loans are based on an external derivative valuation model using data inputs from similar transactions as of the valuation date and classified Level 2.

The following table presents the assets and liabilities measured and reported on the Consolidated Balance Sheets on a recurring basis at their fair value as of December 31, 2025 and 2024 by level within the fair value hierarchy (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2025

​

  ​ ​ ​

TOTAL

  ​ ​ ​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Equity securities (1)

​

$

183

​

$

183

​

$

—

​

$

—

Available for sale securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Agency

​

 

4,790

​

 

—

​

 

4,790

​

 

—

U.S. Agency mortgage-backed securities

​

​

110,856

​

​

—

​

​

110,856

​

​

—

Municipal

​

 

9,934

​

 

—

​

 

9,934

​

 

—

Corporate bonds

​

 

50,648

​

 

—

​

 

50,648

​

 

—

Trading securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury

​

​

3,401

​

​

—

​

​

3,401

​

​

—

Municipal

​

 

3,852

​

 

—

​

 

3,852

​

 

—

Interest rate swap asset (1)

​

 

2,614

​

 

—

​

 

2,614

​

 

—

Interest rate swap liability (2)

​

 

(2,639)

​

 

—

​

 

(2,639)

​

 

—

Interest rate hedge (2)

​

 

(118)

​

 

—

​

 

(118)

​

 

—

Risk participation agreement (2)

​

 

(303)

​

 

—

​

 

(303)

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2024

​

  ​ ​ ​

TOTAL

  ​ ​ ​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Equity securities (1)

​

$

350

​

$

350

​

$

—

​

$

—

Available for sale securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Agency

​

 

4,666

​

 

—

​

 

4,666

​

 

—

U.S. Agency mortgage-backed securities

​

​

91,534

​

​

—

​

​

91,534

​

​

—

Municipal

​

 

8,363

​

 

—

​

 

8,363

​

 

—

Corporate bonds

​

 

51,057

​

 

363

​

 

50,021

​

 

673

Interest rate swap asset (1)

​

 

4,657

​

 

—

​

 

4,657

​

 

—

Interest rate swap liability (2)

​

 

(4,691)

​

 

—

​

 

(4,691)

​

 

—

Interest rate hedge (2)

​

 

(169)

​

 

—

​

 

(169)

​

 

—

Risk participation agreement (2)

​

 

(207)

​

 

—

​

 

(207)

​

 

—

(1)Included within other assets on the Consolidated Balance Sheets.
(2)Included within other liabilities on the Consolidated Balance Sheets.

Assets Measured and Recorded on a Non-Recurring Basis

The Company evaluates individual loans for expected credit losses when those loans do not share similar risk characteristics with loans evaluated using a collective (pooled) basis. Individually evaluated loans are reported at the fair value of the underlying collateral if the repayment is expected solely from the collateral. Collateral values are estimated using Level 3 inputs based on observable market data which at times are discounted using unobservable inputs. At December 31, 2025 and 2024, the Company had no individually evaluated loans using the collateral method which were carried at fair value.

Other real estate owned is measured at fair value based on appraisals, less estimated costs to sell at the date of foreclosure. The Bank’s internal Collections and Assigned Risk Department estimates the fair value of repossessed assets, such as vehicles and equipment, using a formula driven analysis based on automobile or other industry data, less estimated costs to sell at the time of repossession. Valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less costs to sell. Income and expenses from operations and changes in valuation allowance are included in the net expenses from OREO and repossessed assets.

Assets measured and recorded at fair value on a non-recurring basis are summarized below (in thousands, except range data):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2025

​

​

TOTAL

​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Other real estate owned and repossessed assets

​

$

216

​

$

—

​

$

—

​

$

216

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2024

​

  ​ ​ ​

TOTAL

  ​ ​ ​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Other real estate owned and repossessed assets

​

$

1,724

​

$

—

​

$

—

​

$

1,724

​

​

​

​

​

​

​

​

​

​

​

​

​

​

QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASUREMENTS

 

​

​

​

​

VALUATION

​

UNOBSERVABLE

​

​

​

DECEMBER 31, 2025

  ​ ​ ​

FAIR VALUE

  ​ ​ ​

TECHNIQUES

  ​ ​ ​

INPUT

  ​ ​ ​

RANGE (WGTD AVG)

 

Other real estate owned and repossessed assets

​

$

216

 

Appraisal of collateral (1)

 

Appraisal adjustments (2)

 

29% to 59% (45%)

​

​

​

​

​

​

​

​

Liquidation expenses

​

0% to 30% (11%)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASUREMENTS

 

​

​

​

​

VALUATION

​

UNOBSERVABLE

​

​

​

DECEMBER 31, 2024

  ​ ​ ​

FAIR VALUE

  ​ ​ ​

TECHNIQUES

  ​ ​ ​

INPUT

  ​ ​ ​

RANGE (WGTD AVG)

 

Other real estate owned and repossessed assets

  ​ ​ ​

$

1,724

 

Appraisal of collateral (1)

 

Appraisal adjustments (2)

 

18% to 63% (24%)

​

​

​

​

​

​

​

​

Liquidation expenses

​

0% to 33% (4%)

​

(1)Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. Also includes qualitative adjustments by management and estimated liquidation expenses.
(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions.
v3.26.1
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS
 12 Months Ended
Dec. 31, 2025
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS  
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

13. DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

For the Company, as for most financial institutions, the majority of its assets and liabilities are considered financial instruments. Many of the Company’s financial instruments, however, lack an available trading market characterized by a willing buyer and willing seller engaging in an exchange transaction. Therefore, significant estimates and present value calculations were used by the Company for the purpose of this disclosure.

Fair values have been determined by the Company using independent third-party valuations that use the best available data (Level 2) and an estimation methodology (Level 3), which the Company believes is suitable for each category of financial instruments. Management believes that cash and cash equivalents, bank owned life insurance, regulatory stock, accrued interest receivable and payable, deposits with no stated maturities, and short-term borrowings have fair values which approximate the recorded carrying values. The fair value measurements for all of these financial instruments are Level 1 measurements.

The estimated fair values based on US GAAP measurements and recorded carrying values at December 31, 2025 and 2024 for the remaining financial instruments not required to be reported at fair value were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

  ​ ​ ​

CARRYING 

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

VALUE

​

​

FAIR VALUE

​

​

LEVEL 1

​

​

LEVEL 2

​

​

LEVEL 3

​

​

​

(IN THOUSANDS)

FINANCIAL ASSETS:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Investment securities – HTM

​

$

72,256

​

$

68,916

​

$

—

​

$

67,936

​

$

980

Loans held for sale

​

 

241

​

​

244

​

​

244

​

 

—

​

 

—

Loans, net of allowance for credit losses and unearned income

​

 

1,019,599

​

​

1,010,336

​

​

—

​

 

—

​

 

1,010,336

FINANCIAL LIABILITIES:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Deposits with stated maturities

​

​

377,747

​

​

377,938

​

​

—

​

​

—

​

​

377,938

All other borrowings (1)

​

 

71,382

​

 

71,382

​

 

—

​

 

—

​

 

71,382

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

  ​ ​ ​

CARRYING 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

VALUE

​

  ​ ​ ​

FAIR VALUE

​

  ​ ​ ​

LEVEL 1

​

  ​ ​ ​

LEVEL 2

​

  ​ ​ ​

LEVEL 3

​

​

​

(IN THOUSANDS)

FINANCIAL ASSETS:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities – HTM

​

$

63,837

​

$

58,471

​

$

—

​

$

57,535

​

$

936

Loans held for sale

​

 

460

​

​

470

​

​

470

​

 

—

​

 

—

Loans, net of allowance for credit losses and unearned income

​

 

1,054,037

​

​

990,745

​

​

—

​

 

—

​

 

990,745

FINANCIAL LIABILITIES:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Deposits with stated maturities

​

​

336,312

​

​

336,167

​

​

—

​

​

—

​

​

336,167

All other borrowings (1)

​

 

82,784

​

 

81,476

​

 

—

​

 

—

​

 

81,476

(1)All other borrowings include advances from Federal Home Loan Bank and subordinated debt.

Changes in assumptions or estimation methodologies may have a material effect on these estimated fair values. The Company’s remaining assets and liabilities which are not considered financial instruments have not been valued differently than has been customary under historical cost accounting.
v3.26.1
INCOME TAXES
 12 Months Ended
Dec. 31, 2025
INCOME TAXES  
INCOME TAXES

14. INCOME TAXES

The expense for income taxes is summarized below and includes both federal and applicable state corporate income taxes:

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Current

​

$

192

​

$

832

Deferred

​

 

992

​

 

(34)

Income tax expense

​

$

1,184

​

$

798

​

The reconciliation between the federal statutory tax rate and the Company’s effective consolidated income tax rate is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

2025

​

2024

​

​

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATE

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATE

  ​ ​ ​

​

​

(IN THOUSANDS, EXCEPT PERCENTAGES)

Income tax expense based on federal statutory rate

​

$

1,427

 

21.0

%  

$

924

 

21.0

%  

Tax exempt income

​

 

(310)

 

(4.6)

​

 

(247)

 

(5.6)

​

Other

​

 

67

 

1.0

​

 

121

 

2.7

​

Total expense for income taxes

​

$

1,184

 

17.4

%  

$

798

 

18.1

%  

​

The following table highlights the major components comprising the deferred tax assets and liabilities for each of the periods presented:

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

DEFERRED TAX ASSETS:

​

  ​

​

​

  ​

​

Allowance for credit losses - loans

​

$

2,757

​

$

2,922

Allowance for credit losses - securities

​

 

19

​

 

94

Allowance for credit losses - unfunded commitments

​

 

71

​

 

203

Unrealized investment security losses

​

 

2,088

​

 

3,544

Premises and equipment

​

 

765

​

 

912

Lease liabilities

​

​

825

​

​

895

Net operating loss

​

 

448

​

 

469

Interest rate hedges

​

 

25

​

 

36

Other

​

 

157

​

 

173

Total tax assets

​

 

7,155

​

 

9,248

DEFERRED TAX LIABILITIES:

​

 

​

​

 

​

Investment accretion

​

 

(161)

​

 

(129)

Lease right-of-use assets

​

​

(735)

​

​

(815)

Accrued pension obligation

​

​

(7,591)

​

​

(6,602)

Other

​

 

(304)

​

 

(290)

Total tax liabilities

​

 

(8,791)

​

 

(7,836)

Net deferred tax (liability) asset

​

$

(1,636)

​

$

1,412

​

At December 31, 2025 and 2024, the Company had no valuation allowance established against its deferred tax assets as we believe the Company will generate sufficient future taxable income to fully utilize these assets.

The Company utilizes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more likely than not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more likely than not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company has no tax liability for uncertain tax positions. The Company’s federal and state income tax returns for taxable years through 2021 have been closed for purposes of examination by the Internal Revenue Service and the Pennsylvania Department of Revenue.
v3.26.1
EMPLOYEE BENEFIT PLANS
 12 Months Ended
Dec. 31, 2025
EMPLOYEE BENEFIT PLANS  
EMPLOYEE BENEFIT PLANS

15. EMPLOYEE BENEFIT PLANS

PENSION PLAN

The Company has a noncontributory defined benefit pension plan covering certain employees who work at least 1,000 hours per year. The participants shall have a vested interest in their accrued benefit after five full years of service. The benefits of the plan are based upon the employees’ years of service and average annual earnings for the highest five consecutive calendar years during the final ten-year period of employment. Effective January 1, 2013, the Company implemented a soft freeze of its defined benefit pension plan for non-union employees. A soft freeze means that all existing employees as of December 31, 2012 will remain in the defined benefit pension plan, but any new non-union employees hired after January 1, 2013 will no longer be part of the defined benefit plan but instead will be offered retirement benefits under an enhanced 401(k) program. The Company implemented a similar soft freeze of its defined benefit pension plan for union employees effective January 1, 2014. The Company executed these changes to help reduce its pension costs in future years. Plan assets are primarily debt securities (including U.S. Treasury and Agency securities, corporate notes and bonds), listed common stocks (including shares of the Company’s common stock valued at $2.4 million and $1.8 million as of December 31, 2025 and 2024, respectively, and is limited to 4% of the plan’s assets), mutual funds, and short-term cash equivalent instruments. The following actuarial tables are based upon data provided by an independent third party as of December 31.

Pension Benefits

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

CHANGE IN BENEFIT OBLIGATION:

 

​

  ​

 

​

  ​

Benefit obligation at beginning of year

​

$

31,228

​

$

34,819

Service cost

​

 

715

​

​

832

Interest cost

​

 

1,527

​

​

1,562

Actuarial loss (gain)

​

 

307

​

​

(532)

Settlements

​

 

—

​

​

(4,521)

Benefits paid

​

 

(2,758)

​

​

(932)

Benefit obligation at end of year

​

 

31,019

​

​

31,228

CHANGE IN PLAN ASSETS:

​

 

  ​

​

 

  ​

Fair value of plan assets at beginning of year

​

 

62,617

​

​

59,335

Actual return on plan assets

​

 

7,699

​

​

8,735

Employer contributions

​

 

—

​

​

—

Settlements

​

 

—

​

​

(4,521)

Benefits paid

​

 

(2,758)

​

​

(932)

Fair value of plan assets at end of year

​

 

67,558

​

​

62,617

Funded status of the plan

​

$

36,539

​

$

31,389

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

AMOUNTS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST:

 

​

  ​

 

​

​

Amounts recognized in accumulated other comprehensive loss consists of:

 

​

  ​

 

​

​

Net actuarial (gain) loss

​

$

(1,197)

​

$

2,045

Total

​

$

(1,197)

​

$

2,045

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

ACCUMULATED BENEFIT OBLIGATION:

 

​

  ​

 

​

  ​

Accumulated benefit obligation

​

$

29,194

​

$

29,215

​

The weighted-average assumptions used to determine benefit obligations at December 31, 2025 and 2024 were as follows:

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

 

WEIGHTED AVERAGE ASSUMPTIONS:

 

  ​

 

  ​

​

Discount rate

 

5.30

%  

5.58

%

Salary scale

​

​

​

​

​

Ages 25-34

​

5.00

​

5.00

​

Ages 35-44

​

4.00

​

4.00

​

Ages 45-54

​

3.00

​

3.00

​

Ages 55+

 

2.50

 

2.50

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

COMPONENTS OF NET PERIODIC PENSION BENEFIT:

​

​

  ​

 

​

  ​

Service cost

​

$

715

​

$

832

Interest cost

​

 

1,527

​

 

1,562

Expected return on plan assets

​

 

(4,150)

​

 

(4,157)

Settlement charge

​

 

—

​

 

471

Net periodic pension benefit

​

$

(1,908)

​

$

(1,292)

​

The service cost component of net periodic pension benefit is included in salaries and employee benefits and all other components of net periodic pension benefit are included in other expense on the Consolidated Statements of Operations.

​

The Company did not recognize a settlement charge in connection with its defined benefit pension plan in 2025 while a settlement charge of $471,000 was recognized in 2024. A settlement charge must be recognized when the total dollar amount of lump sum distributions paid from the pension plan to retired employees exceeds a threshold of expected annual service and interest costs in the current year. It is important to note that since the retired employees elected to take lump sum payments, these individuals are no longer included in the pension plan which favorably impacts the Company’s basic pension expense. Therefore, the Company’s basic annual pension expense is expected to be lower in the future. This was evident in 2024 and 2025 as the Company recognized a net periodic pension benefit in both years.

​

Note that pension settlement charges are dependent upon the level of national interest rates from the previous year and the impact that interest rates have on lump sum distributions to those employees eligible to retire. Pension settlement charges are also dependent upon the choice of retiring employees to either take a lump sum distribution or receive future monthly annuity payments.

​

The accrued pension obligation, which had a positive (debit) balance of $36.1 million and $31.4 million, was reclassified to other assets on the Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. The balance of the accrued pension obligation continues to be a positive value as a result of the strong returns on plan assets and the revaluation of the obligation.

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME

 

​

​

 

​

  ​

Net gain

​

$

(3,242)

​

$

(5,110)

Recognized loss

​

 

—

​

 

(471)

Total recognized in other comprehensive income before tax effect

​

$

(3,242)

​

$

(5,581)

Total recognized in net periodic pension benefit and other comprehensive income before tax effect

​

$

(5,150)

​

$

(6,873)

​

For the year ended December 31, 2025, actuarial gains/losses in the projected benefit obligation were the result of the plan experience, updated census data, discount rate, lump sum interest rates, and lump sum mortality tables. These sources generated a combined loss of about 0.99% of expected year-end obligations.

The weighted-average assumptions used to determine net periodic pension benefit for the years ended December 31, 2025 and 2024 were as follows:

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

WEIGHTED AVERAGE ASSUMPTIONS:

 

  ​

 

  ​

 

Discount rate

 

5.59

%  

5.12

%  

Expected return on plan assets

 

7.00

 

7.00

 

Rate of compensation increase

​

​

​

​

​

Ages 25-34

​

5.00

​

5.00

​

Ages 35-44

​

4.00

​

4.00

​

Ages 45-54

​

3.00

​

3.00

​

Ages 55+

 

2.50

 

2.50

 

​

The Company has assumed a 7.00% long-term expected return on plan assets. This assumption was based upon the plan’s historical investment performance over a longer-term period of 20 years combined with the plan’s investment objective of balanced growth and income. Additionally, this assumption also incorporates a targeted range for equity securities of approximately 0% to 60% of plan assets.

Plan Assets

The plan’s measurement date was December 31, 2025. The plan’s asset allocation at December 31, 2025 and 2024, by asset category, was as follows:

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

 

ASSET CATEGORY:

 

  ​

 

  ​

​

Cash and cash equivalents

 

3.5

%  

1.4

%

Fixed income

 

43.9

 

35.1

​

Equity

 

52.6

 

63.5

​

Total

 

100.0

%  

100.0

%

​

The major categories of assets in the Company’s pension plan as of year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value.

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Level 1:

 

​

  ​

 

​

  ​

Cash and cash equivalents

​

$

2,384

​

$

878

Fixed income

​

 

29,627

​

​

22,003

Equity

​

 

35,547

​

​

39,736

Total fair value of plan assets

​

$

67,558

​

$

62,617

​

Cash and cash equivalents may include uninvested cash balances along with money market mutual funds, treasury bills, or other assets normally categorized as cash equivalents. Fixed income may include mutual funds that are categorized as balanced, domestic, international, or global/emerging, as well as exchange traded funds. In addition, fixed income may include individual bonds that are government, corporate, or international. Equity may include common or preferred stocks, covered options, rights or warrants, or American Depository Receipts which are traded on any U.S. equity market. In addition, equity may include mutual funds and exchange traded funds.

The investment strategy objective for the pension plan is a balance of growth and income. This objective seeks to develop a portfolio for acceptable levels of current income together with the opportunity for capital appreciation. The balanced growth and income objective reflects an equal balance between fixed income and equity investments. The allocation between fixed income and equity assets may vary to a moderate degree during normal market cycles. The pension plan’s allocation to fixed income can fall within the range of 0% to 100% of the plan assets while the allocation to equity is 0% to 60%. In addition, cash equivalents can range from 0% to 100% of the plan assets. The plan is also able to invest in ASRV common stock up to a maximum level of 4% of the market value of the plan assets (as of December 31, 2025 and 2024, 3.6% and 2.8%, respectively, of the plan assets were invested in ASRV common stock). This asset mix is intended to ensure that there is a steady stream of income generated to fund benefit payments.

Cash Flows

The Company presently expects to contribute $0 to the plan in 2026. Funding requirements for subsequent years are uncertain and will significantly depend on whether the plan’s actuary changes any assumptions used to calculate plan funding levels, the actual return on plan assets, changes in the employee groups covered by the plan, and any legislative or regulatory changes affecting plan funding requirements. For tax planning, financial planning, cash flow management or cost reduction purposes the Company may increase, accelerate, decrease or delay contributions to the plan to the extent permitted by law.

Estimated Future Benefit Payments

The following benefit payments, which reflect future service, as appropriate, are expected to be paid.

​

​

​

​

​

​

  ​ ​ ​

ESTIMATED FUTURE

YEAR:

​

BENEFIT PAYMENTS

​

​

(IN THOUSANDS)

2026

​

$

4,663

2027

​

 

4,022

2028

​

 

3,356

2029

​

 

2,943

2030

​

 

2,693

Years 2031-2035

​

 

12,178

​

401(k) PLAN

The Company maintains a qualified 401(k) plan that allows for participation by Company employees. Under the plan, employees may elect to make voluntary contributions to their accounts, which the Company will match one half on the first 2% of contributions up to a maximum of 1%. The Company also contributes 4% of salaries for union members who are in the plan. These contribution percentages apply to employees who are eligible to participate in our defined benefit pension plan.

Effective January 1, 2013, any new non-union employees receive a 4% non-elective contribution, and these employees may elect to make voluntary contributions to their accounts which the Company will match one half on the first 6% of contributions up to a maximum of 3%. Effective January 1, 2014, any new union employees receive a 4% non-elective contribution, and these employees may elect to make voluntary contributions to their accounts which the Company will match dollar for dollar up to a maximum of 4%. Contributions by the Company charged to operations were $1.0 million and $982,000 for the years ended December 31, 2025 and 2024, respectively. The fair value of plan assets includes $534,000 and $390,000 pertaining to the value of the Company’s common stock that was held by the plan at December 31, 2025 and 2024, respectively.

DEFERRED COMPENSATION PLAN

The Company maintains a non-qualified deferred compensation plan in which a select group of executives are permitted to participate. An eligible executive can defer a certain percentage of their current salary to be placed into the plan. The Company has established a rabbi trust to provide funding for the benefits payable under our deferred compensation plan. As of December 31, 2025 and 2024, the Company reported a deferred compensation liability of $183,000 and $350,000, respectively, within other liabilities on the Consolidated Balance Sheets. For the years ended December 31, 2025 and 2024, the Company recognized deferred compensation plan expense of $9,000 and $19,000, respectively. The deferred compensation plan expense is reported within other expense on the Consolidated Statements of Operations. See Note 5 (Investment Securities) for additional disclosures related to the nonqualified deferred compensation plan and assets held within the rabbi trust.

Except for the above-described benefit plans, the Company has no significant additional exposure for any other post-retirement or post-employment benefits.
v3.26.1
COMMITMENTS AND CONTINGENT LIABILITIES
 12 Months Ended
Dec. 31, 2025
COMMITMENTS AND CONTINGENT LIABILITIES  
COMMITMENTS AND CONTINGENT LIABILITIES

16. COMMITMENTS AND CONTINGENT LIABILITIES

The Company incurs off-balance sheet risks in the normal course of business in order to meet the financing needs of its customers. These risks derive from commitments to extend credit and standby letters of credit. Such commitments and standby letters of credit involve, to varying degrees, elements of credit risk. Commitments to extend credit are obligations to lend to a customer as long as there is no violation of any condition established in the loan agreement. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because a portion of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. Commitments to extend credit are issued both on an unsecured and secured basis. Collateral which secures these types of commitments is the same as for other types of secured lending such as accounts receivable, inventory, fixed assets, and real estate.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including normal business activities, bond financings, and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Letters of credit are issued both on an unsecured and secured basis. Collateral securing these types of transactions is similar to collateral securing the Company’s commercial loans.

The Company’s exposure to credit loss in the event of nonperformance by the other party to these commitments to extend credit and standby letters of credit is represented by their contractual amounts. The Company uses the same credit

and collateral policies in making commitments and conditional obligations as for all other lending. At December 31, 2025, the Company had various outstanding commitments to extend credit approximating $239.9 million and standby letters of credit of $8.8 million, compared to commitments to extend credit of $233.2 million and standby letters of credit of $8.7 million at December 31, 2024.

Standby letters of credit had terms ranging from one to five years with annual extension options available. Standby letters of credit of approximately $5.5 million and $6.5 million were secured as of December 31, 2025 and 2024, respectively.

The Company estimates expected credit losses over the contractual period in which it is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancelable. The allowance for credit losses on off-balance sheet credit exposures is adjusted through the provision for credit losses line on the Consolidated Statements of Operations. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The Company recorded a provision for credit losses recovery on unfunded commitments of $629,000 for the year ended December 31, 2025 while a provision for credit losses of $26,000 was recognized for the year ended December 31, 2024. The carrying amount of the allowance for credit losses for the Company’s obligations related to unfunded commitments and standby letters of credit, which is reported in other liabilities on the Consolidated Balance Sheets, was $337,000 at December 31, 2025 and $966,000 at December 31, 2024.

Pursuant to its bylaws, the Company provides indemnification to its directors and officers against certain liabilities incurred as a result of their service on behalf of the Company. In connection with this indemnification obligation, the Company can advance, on behalf of covered individuals, costs incurred in defending against certain claims. Additionally, the Company is subject to a number of asserted and unasserted potential claims encountered in the normal course of business. In the opinion of the Company, neither the resolution of these claims nor the funding of these credit commitments is expected to have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.
v3.26.1
STOCK COMPENSATION PLANS
 12 Months Ended
Dec. 31, 2025
STOCK COMPENSATION PLANS  
STOCK COMPENSATION PLANS

17. STOCK COMPENSATION PLANS

The Company uses the modified prospective method for accounting for stock-based compensation and recognized no stock compensation expense for 2025 compared to $8,000 of stock compensation expense in 2024.

During 2021, the Company’s Board adopted, and its shareholders approved, the AmeriServ Financial, Inc. 2021 Equity Incentive Plan (the Plan) authorizing the grant of options or restricted stock covering 600,000 shares of common stock. This Plan replaced the expired 2011 Stock Incentive Plan. Under the Plan, options or restricted stock can be granted (the Grant Date) to directors, officers, and employees that provide services to the Company and its affiliates, as selected by the Compensation/Human Resources Committee of the Board. The option price at which a granted stock option may be exercised will not be less than 100% of the fair market value per share of common stock on the Grant Date. The maximum term of any option granted under the Plan cannot exceed 10 years. Generally, options vest over a three-year period and become exercisable in equal installments over the vesting period. At times, options with a one-year vesting period may also be issued.

A summary of the status of the Company’s Equity Incentive Plan at December 31, 2025 and 2024, and changes during the years then ended are presented in the table and narrative following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

2025

​

2024

​

  ​ ​ ​

​

  ​ ​ ​

WEIGHTED

  ​ ​ ​

​

  ​ ​ ​

WEIGHTED

​

​

​

​

AVERAGE

​

​

​

AVERAGE

​

​

SHARES

​

EXERCISE PRICE

​

SHARES

​

EXERCISE PRICE

Outstanding at beginning of year

​

194,000

​

$

3.72

​

245,000

​

$

3.64

Granted

 

—

​

​

—

​

—

​

​

—

Exercised

 

(3,000)

​

​

2.96

​

—

​

​

—

Forfeited

 

(25,000)

​

​

3.38

​

(51,000)

​

​

3.31

Outstanding at end of year

 

166,000

​

​

3.79

​

194,000

​

​

3.72

Exercisable at end of year

 

166,000

​

​

3.79

​

194,000

​

​

3.72

Weighted average fair value of options granted in current year

 

  ​

​

$

—

​

  ​

​

$

—

​

All of the 166,000 options outstanding at December 31, 2025 were exercisable and had exercise prices between $2.96 and $4.22, with a weighted average exercise price of $3.79 and a weighted average remaining contractual life of 4.45 years. The fair value of each option grant is estimated on the date of grant using the Binomial or Black-Scholes option pricing model. No stock options or restricted stock were granted during 2025 and 2024.

​

The intrinsic value of stock options exercised was $480 in 2025. There were no stock options exercised during 2024.
v3.26.1
ACCUMULATED OTHER COMPREHENSIVE LOSS
 12 Months Ended
Dec. 31, 2025
ACCUMULATED OTHER COMPREHENSIVE LOSS  
ACCUMULATED OTHER COMPREHENSIVE LOSS

18. ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the periods ended December 31, 2025 and 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

​

YEAR ENDED DECEMBER 31, 2024

​

  ​ ​ ​

NET

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

NET

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

UNREALIZED

​

​

​

​

​

​

​

​

​

​

UNREALIZED

​

​

​

​

​

​

​

​

​

​

​

GAINS AND

​

​

​

​

​

​

​

​

​

​

GAINS AND

​

​

​

​

​

​

​

​

​

​

​

LOSSES ON

​

​

​

DEFINED

​

​

​

​

LOSSES ON

​

​

​

DEFINED

​

​

​

​

​

INVESTMENT

​

INTEREST

​

BENEFIT

​

​

​

​

INVESTMENT

​

INTEREST

​

BENEFIT

​

​

​

​

​

SECURITIES 

​

RATE

​

PENSION

​

​

​

​

SECURITIES 

​

RATE

​

PENSION

​

​

​

​

​

AFS(1)

​

HEDGE(1)

​

ITEMS(1)

​

TOTAL(1)

​

AFS(1)

​

HEDGE(1)

​

ITEMS(1)

​

TOTAL(1)

Beginning balance

​

$

(13,332)

​

$

(135)

​

$

(1,616)

​

$

(15,083)

​

$

(13,730)

​

$

(352)

​

$

(5,894)

​

$

(19,976)

Other comprehensive income before reclassifications

​

 

5,478

​

 

63

​

 

2,215

​

 

7,756

​

 

398

​

 

760

​

 

3,906

​

 

5,064

Amounts reclassified from accumulated other comprehensive loss

​

 

—

​

 

(22)

​

 

—

​

 

(22)

​

 

—

​

 

(543)

​

 

372

​

 

(171)

Net current period other comprehensive income

​

 

5,478

​

 

41

​

 

2,215

​

 

7,734

​

 

398

​

 

217

​

 

4,278

​

 

4,893

Ending balance

​

$

(7,854)

​

$

(94)

​

$

599

​

$

(7,349)

​

$

(13,332)

​

$

(135)

​

$

(1,616)

​

$

(15,083)

(1)Amounts in parentheses indicate debits on the Consolidated Balance Sheets.

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the periods ended December 31, 2025 and 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

AMOUNT RECLASSIFIED FROM ACCUMULATED

​

​

​

​

OTHER COMPREHENSIVE LOSS(1)

​

​

​

​

​

​

​

​

​

​

​

DETAILS ABOUT ACCUMULATED OTHER

​

YEAR ENDED

​

YEAR ENDED

​

AFFECTED LINE ITEM IN THE

COMPREHENSIVE LOSS COMPONENTS

  ​ ​ ​

DECEMBER 31, 2025

  ​ ​ ​

DECEMBER 31, 2024

  ​ ​ ​

STATEMENT OF OPERATIONS

Interest rate hedge

​

​

​

​

​

​

​

​

​

​

$

(28)

​

$

(687)

​

Interest expense - Deposits

​

​

​

6

​

​

144

​

Provision for income taxes

​

​

$

(22)

​

$

(543)

 

​

Amortization of estimated defined benefit pension plan loss(2)

​

​

​

​

​

​

​

​

​

​

$

—

​

$

471

 

Other expense

​

​

 

—

​

 

(99)

 

Provision for income taxes

​

​

$

—

​

$

372

 

​

Total reclassifications for the period

​

$

(22)

​

$

(171)

 

​

(1)Amounts in parentheses indicate credits.
(2)These accumulated other comprehensive loss components are included in the computation of net periodic pension benefit (see Note 15 for additional details).
v3.26.1
INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

19. INTANGIBLE ASSETS

The Company’s Consolidated Balance Sheets show both tangible assets (such as loans, buildings, and investments) and intangible assets (such as goodwill and core deposit intangible). Goodwill has an indefinite life and is not amortized. Instead, such intangible is evaluated for impairment at the reporting unit level at least annually, or more frequently if indicators of impairment are present. Any resulting impairment would be reflected as a non-interest expense. Based on this analysis, no impairment was recorded in 2025 or 2024. Of the Company’s goodwill of $13.6 million, $11.2 million relates to past branch acquisitions while $2.4 million relates to the acquisition of the former West Chester Capital Advisors, now operating as AmeriServ Wealth Advisors. The balance of the Company’s goodwill at December 31, 2025 and 2024 was $13.6 million.

​

Other identifiable intangible assets, such as core deposit intangible, are assigned useful lives, which are amortized on an accelerated basis over their useful lives. Such lives are also periodically reassessed to determine if any amortization period adjustments are required. During the years ended December 31, 2025 and 2024 no such adjustments were recorded. During 2021, the Company recorded a core deposit intangible of $177,000 as a result of the Riverview Bank branch acquisition. As of December 31, 2025 and 2024, accumulated amortization on the core deposit intangible totaled $121,000 and $100,000, respectively.

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

2025

​

2024

  ​ ​ ​

​

(IN THOUSANDS)

​

CORE DEPOSIT INTANGIBLE

​

​

​

​

​

​

Balance at beginning of year

$

77

​

$

101

​

Amortization

 

(21)

​

​

(24)

​

Balance at end of year

$

56

​

$

77

​

​

As of December 31, 2025, the estimated future amortization expense for the core deposit intangible associated with the Riverview branch acquisition was as follows (in thousands):

​

​

​

2026

$

17

2027

​

14

2028

 

11

2029

 

8

2030

 

5

After five years

​

1

​

$

56

​
v3.26.1
DERIVATIVE HEDGING INSTRUMENTS
 12 Months Ended
Dec. 31, 2025
DERIVATIVE HEDGING INSTRUMENTS  
DERIVATIVE HEDGING INSTRUMENTS

20. DERIVATIVE HEDGING INSTRUMENTS

The Company can use various interest rate contracts, such as interest rate swaps, caps, and floors to help manage interest rate and market valuation risk exposure, which is incurred in normal recurrent banking activities.

The Company uses derivative instruments, primarily interest rate swaps, to manage interest rate risk and match the rates on certain assets by hedging the fair value of certain fixed rate liabilities, which converts the liabilities to variable rates and by hedging the cash flow variability associated with certain variable rate liabilities by converting the liabilities to fixed rates.

Interest Rate Swap Agreements

To accommodate the needs of our customers and support the Company’s asset/liability positioning, we may enter into interest rate swap agreements with customers and a large financial institution that specializes in these types of transactions. These arrangements involve the exchange of interest payments based on the notional amounts. The Company entered into floating rate loans and fixed rate swaps with our customers. Simultaneously, the Company entered into offsetting fixed rate swaps with this large financial institution. In connection with each swap transaction, the Company agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on the same notional amount at a fixed interest rate. At the same time, the Company agrees to pay the large financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These transactions allow the Company’s customers to effectively convert a variable rate loan to a fixed rate. Because the Company acts as an intermediary for its customers, changes in the fair value of the underlying derivative contracts offset each other and do not significantly impact the Company’s results of operations. Fees on the interest rate swap transactions are recognized as revenue when received. For the year ended December 31, 2025, the Company received $13,000 in fees on an interest rate swap transaction. There were no new interest rate swap contracts executed during the year ended December 31, 2024, therefore, no fees were recognized.

These swaps are considered free-standing derivatives and are reported at fair value within other assets and other liabilities on the Consolidated Balance Sheets. Disclosures related to the fair value of the swap transactions can be found in Note 12.

The following tables summarize the interest rate swap transactions that impacted the Company’s 2025 and 2024 performance (in thousands, except percentages).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

INCREASE

​

​

​

​

AGGREGATE

​

WEIGHTED

​

​

​

(DECREASE)

​

​

​

​

NOTIONAL

​

AVERAGE RATE

​

REPRICING

​

IN INTEREST

​

​

HEDGE TYPE

​

AMOUNT

​

RECEIVED/(PAID)

​

FREQUENCY

​

INCOME

Swap assets

  ​ ​ ​

N/A

  ​ ​ ​

$

60,778

  ​ ​ ​

6.57

%  

Monthly

  ​ ​ ​

$

1,180

Swap liabilities

 

N/A

​

 

(60,778)

 

(6.57)

 

Monthly

​

 

(1,180)

Net exposure

 

​

​

$

—

 

—

%

  ​

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

​

INCREASE

​

​

​

​

AGGREGATE

​

WEIGHTED

​

​

​

(DECREASE)

​

​

​

​

NOTIONAL

​

AVERAGE RATE

​

REPRICING

​

IN INTEREST

​

​

HEDGE TYPE

​

AMOUNT

​

RECEIVED/(PAID)

​

FREQUENCY

​

INCOME

Swap assets

  ​ ​ ​

N/A

  ​ ​ ​

$

66,476

  ​ ​ ​

7.52

%  

Monthly

  ​ ​ ​

$

1,968

Swap liabilities

 

N/A

​

 

(66,476)

 

(7.52)

 

Monthly

​

 

(1,968)

Net exposure

 

​

​

$

—

 

—

%

  ​

​

$

—

​

Risk Participation Agreement

​

The Company will enter into risk participation agreements (RPAs) with the lead bank of certain commercial real estate loan arrangements. As a participating bank, the Company guarantees the performance on borrower-related interest rate swap contracts. The Company has no obligations under the RPAs unless the borrower defaults on their swap transaction with the lead bank and the swap is a liability to the borrower. In that instance, the Company has agreed to pay the lead bank a pre-determined percentage of the swap’s value at the time of default. In exchange for providing the guarantee, the Company receives an upfront fee from the lead bank. There were no new RPAs executed during the years ended December 31, 2025 and 2024, therefore, no fees were recognized.

​

RPAs are derivative financial instruments and are recorded at fair value. These derivatives are not designated as hedges and therefore, changes in fair value are recognized in earnings with a corresponding offset within other liabilities. Disclosures related to the fair value of the RPAs can be found in Note 12. The notional amount of the risk participation agreements outstanding at December 31, 2025 and 2024 was $4.9 million.

​

Interest Rate Hedges

​

The Company has entered into interest rate swaps with a total notional value of $70 million as of December 31, 2025 and 2024 in order to hedge the interest rate risk associated with certain floating-rate time deposit accounts. The hedge transactions allow the Company to add stability to interest expense and manage its exposure to interest rate movements. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for the Company making fixed payments.

​

For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is reported in accumulated other comprehensive loss (within Shareholders’ Equity), net of tax, with a corresponding offset within other assets or other liabilities. Disclosures related to the fair value of the interest rate hedges can be found in Note 12. Amounts recorded in accumulated other comprehensive loss for the effective portion of changes in the fair value are subsequently reclassified to earnings when the hedged transaction affects earnings. The ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. The Company assesses the effectiveness of the hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. The Company did not recognize any hedge ineffectiveness in earnings during 2025 and 2024.

​

Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are made on certain of the Company’s variable rate time deposit accounts. During the years ended December 31, 2025 and 2024, the Company had $28,000 and $687,000 of gains, respectively, which resulted in a decrease to interest expense. In the twelve months that follow December 31, 2025, the Company estimates that approximately $104,000 of losses will be reclassified as an increase to interest expense. This reclassified amount could differ from amounts actually recognized due to changes in interest rates. As of December 31, 2025, the maximum length of time over which forecasted transactions are hedged is approximately one year with all hedge transactions terminating by December 2026.

​

The following table summarizes the effect of the effective portion of the Company’s cash flow hedge accounting on accumulated other comprehensive loss for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS

​

AMOUNT RECOGNIZED IN OTHER COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES

​

LOCATION ON CONSOLIDATED STATEMENTS OF OPERATIONS OF RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

​

AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

Interest rate hedge

​

$

52

  ​ ​ ​

Interest expense - Deposits

  ​ ​ ​

$

(28)

Total

​

$

52

​

​

 

$

(28)

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS

​

AMOUNT RECOGNIZED IN OTHER COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES

​

LOCATION ON CONSOLIDATED STATEMENTS OF OPERATIONS OF RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

​

AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

Interest rate hedge

​

$

275

  ​ ​ ​

Interest expense - Deposits

  ​ ​ ​

$

(687)

Total

​

$

275

​

​

 

$

(687)

​

The Company monitors and controls all derivative products with a comprehensive Board of Directors approved Hedging Policy. This policy permits a total maximum notional amount outstanding of $500 million for interest rate swaps, caps, and floors. All hedge transactions must be approved in advance by the Investment Asset/Liability Committee (ALCO) of the Board of Directors, unless otherwise approved, as per the terms, within the Board of Directors approved Hedging Policy. The Company had no caps or floors outstanding at December 31, 2025 and 2024.
v3.26.1
SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2025
SEGMENT REPORTING  
SEGMENT REPORTING

21. SEGMENT REPORTING

ASC Topic 280, Segment Reporting, identifies operating segments as components of a company which are evaluated regularly by the chief operating decision maker in deciding how to develop strategy, allocate resources, and assess performance. The chief operating decision maker of the Company is our President and Chief Executive Officer (CEO). The CEO has authority over all divisions within the Company. The senior manager of each division reports directly to the CEO and all operating activities of the divisions, including financial results, budgets, and forecasts, are discussed with the CEO. While the CEO’s direct reports manage the day-to-day functions of each division, all strategic and major decision making actions must be approved by the CEO for all product lines and geographic areas where the Company has a presence.

While the Company monitors the revenue streams of the various products and services, operations are managed, and financial performance is evaluated on a Company-wide basis. The Company provides a variety of consumer and commercial banking and wealth management services within southwestern Pennsylvania and Hagerstown, Maryland through its branch network. Its retail and commercial banking activities include the deposit-gathering branch franchise and lending activities such as residential mortgage loans, direct consumer loans, small business loans, commercial loans, business services, and CRE loans. Its wealth management activities include personal trust products and services such as personal portfolio investment management, estate planning and administration, custodial services and pre-need trusts, as well as the sale of mutual funds, annuities, and insurance products. Additionally, institutional trust products and services such as 401(k) plans, defined benefit and defined contribution employee benefit plans, and individual retirement accounts are offered. Wealth management activities also include the union collective investment funds (ERECT funds) which are designed to use union pension dollars in construction projects that utilize union labor.

Management has determined that the Company has one reportable segment consisting of Community Banking. While senior management within each division evaluates detailed financial data to monitor revenues and expenses, there are certain support cost centers, such as information technology, human resources, internal audit, and finance, that are not directly charged to each operating profit center making it difficult to determine a thorough and accurate measure of profitability. Further, the revenue generating divisions do not operate as separate silos but work cooperatively and

together, providing referrals and cross-selling opportunities to one another. It is not feasible to split the benefit of these efforts between or among the referral division and the product/service division. Finally, the Company’s Board of Directors evaluates performance on a macro level basis and reviews financial reports that describe the consolidated operating performance of all the divisions of the Company.

The accounting policies for the Community Banking segment are the same as those of our consolidated entity. The chief operating decision maker assesses performance and decides how to allocate resources based on net income as reported on the Consolidated Statements of Operations. The measure of segment assets is reported on the Consolidated Balance Sheets.

Consolidated net income is used to monitor budget versus actual results in assessing performance. The chief operating decision maker uses two primary measures to gauge performance: earnings per share (EPS) and return on average assets (ROA). EPS measures the Company’s profitability in relation to the number of common shares outstanding. ROA measures how efficiently the Company generates income based on its total assets. The chief operating decision maker also uses consolidated net income in competitive analysis by benchmarking to the Company’s peers.

v3.26.1
REGULATORY CAPITAL
 12 Months Ended
Dec. 31, 2025
REGULATORY CAPITAL  
REGULATORY CAPITAL

22. REGULATORY CAPITAL

The Company is subject to various capital requirements administered by the federal banking agencies. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s capital amounts, and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. For a more detailed discussion, see the Capital Resources section of Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A).

Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, common equity tier 1, and tier 1 capital to risk-weighted assets (as defined) and tier 1 capital to average assets. Additionally, under Basel III rules, the decision was made to opt-out of including accumulated other comprehensive income (loss) in regulatory capital. As of December 31, 2025 and 2024, the Bank was categorized as “well capitalized” under the regulatory framework for prompt corrective action promulgated by the Federal Reserve. The Company believes that no conditions or events have occurred that would change this conclusion as of such date. To be categorized as well capitalized, the Bank must maintain minimum total capital, common equity tier 1 capital, tier 1 capital, and tier 1 leverage ratios as set forth in the table.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TO BE WELL

 

​

​

​

​

​

​

​

​

​

​

​

​

MINIMUM

​

CAPITALIZED

 

​

​

​

​

​

​

​

​

​

​

​

​

REQUIRED

​

UNDER

 

​

​

​

​

​

​

​

​

​

​

​

​

FOR

​

PROMPT

 

​

​

​

​

​

​

​

​

​

​

​

​

CAPITAL

​

CORRECTIVE

 

​

​

​

​

​

​

​

​

​

​

​

​

ADEQUACY

​

ACTION

 

​

​

COMPANY

​

BANK

​

PURPOSES

​

REGULATIONS*

 

​

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

​

​

 

(IN THOUSANDS, EXCEPT RATIOS)

​

Total Capital (To Risk Weighted Assets)

​

$

153,316

 

13.30

%  

$

148,370

 

12.88

%  

8.00

%  

10.00

%

Common Equity Tier 1 Capital (To Risk Weighted Assets)

​

 

112,994

 

9.80

​

 

134,815

 

11.70

 

4.50

 

6.50

​

Tier 1 Capital (To Risk Weighted Assets)

​

 

112,994

 

9.80

​

 

134,815

 

11.70

 

6.00

 

8.00

​

Tier 1 Capital (To Average Assets)

​

 

112,994

 

7.79

​

 

134,815

 

9.32

 

4.00

 

5.00

​

* Applies to the Bank only.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TO BE WELL

 

​

​

​

​

​

​

​

​

​

​

​

​

MINIMUM

​

CAPITALIZED

 

​

​

​

​

​

​

​

​

​

​

​

​

REQUIRED

​

UNDER

 

​

​

​

​

​

​

​

​

​

​

​

​

FOR

​

PROMPT

 

​

​

​

​

​

​

​

​

​

​

​

​

CAPITAL

​

CORRECTIVE

 

​

​

​

​

​

​

​

​

​

​

​

​

ADEQUACY

​

ACTION

 

​

​

COMPANY

​

BANK

​

PURPOSES

​

REGULATIONS*

 

​

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

​

​

 

(IN THOUSANDS, EXCEPT RATIOS)

​

Total Capital (To Risk Weighted Assets)

​

$

150,147

 

12.70

%  

$

143,619

 

12.16

%  

8.00

%  

10.00

%

Common Equity Tier 1 Capital (To Risk Weighted Assets)

​

 

108,643

 

9.19

​

 

128,854

 

10.91

 

4.50

 

6.50

​

Tier 1 Capital (To Risk Weighted Assets)

​

 

108,643

 

9.19

​

 

128,854

 

10.91

 

6.00

 

8.00

​

Tier 1 Capital (To Average Assets)

​

 

108,643

 

7.68

​

 

128,854

 

9.15

 

4.00

 

5.00

​

* Applies to the Bank only.
v3.26.1
PARENT COMPANY FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2025
PARENT COMPANY FINANCIAL INFORMATION  
PARENT COMPANY FINANCIAL INFORMATION

23. PARENT COMPANY FINANCIAL INFORMATION

The parent company functions primarily as a coordinating and servicing unit for its subsidiary entity. Provided services include general management, accounting and taxes, loan review, internal audit, investment advisory, marketing, insurance, risk management, general corporate services, and financial and strategic planning. The following financial information relates only to the parent company operations:

BALANCE SHEETS

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

ASSETS

 

​

  ​

 

​

  ​

Cash

​

$

113

​

$

10

Short-term investments

​

 

1,521

​

 

2,673

Cash and cash equivalents

​

​

1,634

​

​

2,683

Investment securities available for sale

​

 

3,787

​

 

4,153

Equity investment in banking subsidiary

​

 

141,452

​

 

127,905

Other assets

​

 

470

​

 

745

TOTAL ASSETS

​

$

147,343

​

$

135,486

LIABILITIES

​

 

  ​

​

 

  ​

Subordinated debt

​

$

26,767

​

$

26,726

Other liabilities

​

 

1,264

​

 

1,512

TOTAL LIABILITIES

​

 

28,031

​

 

28,238

SHAREHOLDERS’ EQUITY

​

 

  ​

​

 

  ​

Total shareholders’ equity

​

 

119,312

​

 

107,248

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

​

$

147,343

​

$

135,486

​

STATEMENTS OF OPERATIONS

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

INCOME

 

​

  ​

 

​

  ​

Inter-entity management and other fees

​

$

2,747

​

$

2,745

Dividends from banking subsidiary

​

 

2,700

​

 

5,500

Interest, dividend and other income

​

 

175

​

 

227

TOTAL INCOME

​

 

5,622

​

 

8,472

EXPENSE

​

 

​

​

 

​

Interest expense

​

 

1,065

​

 

1,054

Salaries and employee benefits

​

 

2,893

​

 

2,831

Other expense

​

 

2,777

​

 

3,492

TOTAL EXPENSE

​

 

6,735

​

 

7,377

(LOSS) INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARY

​

 

(1,113)

​

 

1,095

Benefit for income taxes

​

 

(785)

​

 

(925)

Equity in undistributed earnings of subsidiary

​

 

5,940

​

 

1,581

NET INCOME

​

$

5,612

​

$

3,601

COMPREHENSIVE INCOME

​

$

13,346

​

$

8,494

​

STATEMENTS OF CASH FLOWS

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31,

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

OPERATING ACTIVITIES

 

​

  ​

 

​

  ​

Net income

​

$

5,612

​

$

3,601

Adjustments to reconcile net income to net cash provided by operating activities:

​

 

​

​

 

​

Common stock issuable

​

 

691

​

 

—

Equity in undistributed earnings of subsidiary

​

 

(5,940)

​

 

(1,581)

Stock compensation expense

​

 

—

​

 

8

Other – net

​

 

36

​

 

196

NET CASH PROVIDED BY OPERATING ACTIVITIES

​

 

399

​

 

2,224

INVESTING ACTIVITIES

​

 

  ​

​

 

  ​

Purchase of investment securities – available for sale

​

 

(296)

​

 

(968)

Proceeds from maturity and sales of investment securities – available for sale

​

 

821

​

 

1,305

NET CASH PROVIDED BY INVESTING ACTIVITIES

​

 

525

​

 

337

FINANCING ACTIVITIES

​

 

  ​

​

 

  ​

Stock options exercised

​

 

9

​

 

—

Purchases of treasury stock

​

 

—

​

 

(1,511)

Common stock dividends paid

​

 

(1,982)

​

 

(2,020)

NET CASH USED IN FINANCING ACTIVITIES

​

 

(1,973)

​

 

(3,531)

NET DECREASE IN CASH AND CASH EQUIVALENTS

​

 

(1,049)

​

 

(970)

CASH AND CASH EQUIVALENTS AT JANUARY 1

​

 

2,683

​

 

3,653

CASH AND CASH EQUIVALENTS AT DECEMBER 31

​

$

1,634

​

$

2,683

​

The ability of the subsidiary Bank to upstream cash to the parent company is restricted by regulations. Federal law prevents the parent company from borrowing from its subsidiary Bank unless the loans are secured by specified assets. Further, such secured loans are limited in amount to ten percent of the subsidiary Bank’s capital and surplus. In addition, the Bank is subject to legal limitations on the amount of dividends that can be paid to its shareholder. The dividend

limitation generally restricts dividend payments to a bank’s retained net income for the current and preceding two calendar years. The subsidiary Bank had a combined $141,569,000 of restricted surplus and retained earnings at December 31, 2025. Cash may also be upstreamed to the parent company by the subsidiary as an inter-entity management fee.
v3.26.1
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited)
 12 Months Ended
Dec. 31, 2025
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited)  
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited)

24. SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited)

The following tables set forth certain unaudited quarterly consolidated financial data regarding the Company:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025 QUARTER ENDED

​

  ​ ​ ​

DEC. 31

  ​ ​ ​

SEPT. 30

  ​ ​ ​

JUNE 30

  ​ ​ ​

MARCH 31

​

​

(IN THOUSANDS, EXCEPT PER SHARE DATA)

Interest income

​

$

18,160

​

$

18,483

​

$

17,689

​

$

17,022

Interest expense

​

 

7,229

​

 

7,476

​

 

7,295

​

 

7,091

Net interest income

​

 

10,931

​

 

11,007

​

 

10,394

​

 

9,931

Provision (recovery) for credit losses

​

 

724

​

 

360

​

 

3,133

​

 

(97)

Net interest income after provision (recovery) for credit losses

​

 

10,207

​

 

10,647

​

 

7,261

​

 

10,028

Non-interest income

​

 

4,371

​

 

4,401

​

 

4,096

​

 

4,121

Non-interest expense

​

 

12,900

​

 

11,964

​

 

11,709

​

 

11,763

Income (loss) before income taxes

​

 

1,678

​

 

3,084

​

 

(352)

​

 

2,386

Provision (benefit) for income taxes

​

 

236

​

 

540

​

 

(70)

​

 

478

Net income (loss)

​

$

1,442

​

$

2,544

​

$

(282)

​

$

1,908

Basic earnings per common share

​

$

0.09

​

$

0.15

​

$

(0.02)

​

$

0.12

Diluted earnings per common share

​

 

0.09

​

 

0.15

​

 

(0.02)

​

 

0.12

Cash dividends declared per common share

​

 

0.03

​

 

0.03

​

 

0.03

​

 

0.03

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2024 QUARTER ENDED

​

  ​ ​ ​

DEC. 31

  ​ ​ ​

SEPT. 30

  ​ ​ ​

JUNE 30

  ​ ​ ​

MARCH 31

​

​

(IN THOUSANDS, EXCEPT PER SHARE DATA)

Interest income

​

$

17,063

​

$

16,708

​

$

16,510

​

$

16,224

Interest expense

​

 

7,524

​

 

7,821

​

 

7,635

​

 

7,477

Net interest income

​

 

9,539

​

 

8,887

​

 

8,875

​

 

8,747

Provision (recovery) for credit losses

​

 

1,058

​

 

(51)

​

 

434

​

 

(557)

Net interest income after provision (recovery) for credit losses

​

 

8,481

​

 

8,938

​

 

8,441

​

 

9,304

Non-interest income

​

 

4,453

​

 

4,203

​

 

4,372

​

 

4,947

Non-interest expense

​

 

11,858

​

 

11,721

​

 

13,297

​

 

11,864

Income (loss) before income taxes

​

 

1,076

​

 

1,420

​

 

(484)

​

 

2,387

Provision (benefit) for income taxes

​

 

187

​

 

237

​

 

(109)

​

 

483

Net income (loss)

​

$

889

​

$

1,183

​

$

(375)

​

$

1,904

Basic earnings per common share

​

$

0.05

​

$

0.07

​

$

(0.02)

​

$

0.11

Diluted earnings per common share

​

 

0.05

​

 

0.07

​

 

(0.02)

​

 

0.11

Cash dividends declared per common share

​

 

0.03

​

 

0.03

​

 

0.03

​

 

0.03

​
v3.26.1
Pay vs Performance Disclosure - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure                      
Pay vs Performance Disclosure, Table                

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Average

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

Summary

​

​

​

​

Initial Fixed

​

​

​

​

​

Summary

​

​

​

​

Compensation

​

​

​

​

$100

​

​

​

​

​

Compensation

​

​

​

​

Table Total

​

​

​

​

Investment

​

​

​

​

​

Table Total

​

​

​

​

for Non-PEO

​

Average

​

Based On

​

​

​

​

​

for Principal

​

​

​

​

Named

​

Compensation

​

Total

​

​

​

​

​

Executive

​

Compensation

​

Executive

​

Actually

​

Shareholder

​

Net Income

​

​

Officer

​

Actually Paid

​

Officers

​

Paid to Non-

​

Return

​

(Loss)

Year

​

(“PEO”)(1)

​

to PEO(2)

​

(“NEOs”)(3)

​

PEO NEOs(4)

​

(“TSR”)(5)

​

(thousands)(6)

(a)

​

(b)

​

(c)

​

(d)

​

(e)

​

(f)

​

(g)

2025

​

$

626,931

​

$

637,531

​

$

379,097

​

$

389,167

​

$

90.10

​

$

5,612

2024

​

$

503,959

​

$

487,159

​

$

313,289

​

$

301,809

​

$

78.83

​

$

3,601

2023

​

$

561,439

​

$

519,383

​

$

534,440

​

$

522,473

​

$

87.27

​

$

(3,346)

(1)

The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Stopko (President and Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation—Summary Compensation Table.”

(2)

The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Stopko, as computed in accordance with Item 402(v) of SEC Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Stopko during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. Stopko’s total compensation for each year to determine the compensation actually paid:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Reported

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

Summary

​

​

​

​

​

​

​

​

​

​

​

Compensation

​

Reported

​

Equity

​

Compensation

​

​

Table Total for

​

Value of Equity

​

Award

​

Actually Paid to

Year

​

PEO

​

Awards(a)

​

Adjustments(b)

​

PEO

2025

​

$

626,931

​

$

—

​

$

10,600

​

$

637,531

2024

​

$

503,959

​

$

—

​

$

(16,800)

​

$

487,159

2023

​

$

561,439

​

$

—

​

$

(42,056)

​

$

519,383

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Option Awards” columns in the Summary Compensation Table for the applicable year.

(b)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) an amount equal to the change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in  same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, an amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Dividends or

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

other

​

​

​

​

​

​

​

​

Year over

​

​

​

​

​

​

​

Fair Value at

​

Earnings

​

​

​

​

​

​

​

​

Year Change

​

​

​

​

Year over

​

the End of

​

Paid on

​

​

​

​

​

Year End

​

in Fair Value

​

Fair Value as

​

Year Change

​

the Prior

​

Stock or

​

​

​

​

​

Fair Value of

​

of

​

of Vesting

​

in Fair Value

​

Year of

​

Option

​

​

​

​

​

Outstanding

​

Outstanding

​

Date of

​

of Equity

​

Equity

​

Awards not

​

​

​

​

​

and Unvested

​

and Unvested

​

Equity

​

Awards

​

Awards that

​

Otherwise

​

​

​

​

​

Equity

​

Equity

​

Awards

​

Granted in

​

Failed to

​

Reflected in

​

Total

​

​

Awards

​

Awards

​

Granted and

​

Prior Years

​

Meet Vesting

​

Fair Value or

​

Equity

​

​

Granted in

​

Granted in

​

Vested in the

​

that Vested

​

Conditions in

​

Total

​

Award

Year

​

the Year

​

Prior Years

​

Year

​

in the Year

​

the Year

​

Compensation

​

Adjustments

2025

​

$

—

​

$

—

​

$

—

​

$

10,600

​

$

—

​

$

—

​

$

10,600

2024

​

$

—

​

$

—

​

$

—

​

$

(16,800)

​

$

—

​

$

—

​

$

(16,800)

2023

​

$

—

​

$

(4,667)

​

$

—

​

$

(37,389)

​

$

—

​

$

—

​

$

(42,056)

​

(3)

The dollar amounts reported in column (d) represent the average of the amounts reported for our company’s named executive officers as a group (excluding Mr. Stopko) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the named executive officers (excluding Mr. Stopko) included for purposes of calculating the average amounts in each applicable year are as follows: for 2025 and 2024, Mr. Finui and Mr. Lynch; and for 2023, Mr. Lynch and James T. Huerth.

​

(4)

The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Stopko), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Stopko) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Stopko) for each year to determine the compensation actually paid, using the same methodology described in Note 2 above:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Average

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

Reported Summary

​

Average

​

​

​

​

Average

​

​

Compensation

​

Reported

​

Average Equity

​

Compensation

​

​

Table Total for

​

Value of Equity

​

Award

​

Actually Paid to

Year

​

Non-PEO NEOs

​

Awards

​

Adjustments(a)

​

Non-PEO NEOs

2025

​

$

379,097

​

$

—

​

$

10,070

​

$

389,167

2024

​

$

313,289

​

$

—

​

$

(11,480)

​

$

301,809

2023

​

$

534,440

​

$

—

​

$

(11,967)

​

$

522,473

(a)The amounts deducted or added in calculating the total average equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Dividends or

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

other

​

​

​

​

​

​

​

​

Year over

​

​

​

​

​

​

​

Fair Value at

​

Earnings

​

​

​

​

​

​

​

​

Year Change

​

​

​

​

Year over

​

the End of

​

Paid on

​

 

​

​

​

Year End

​

in Fair Value

​

Fair Value as

​

Year Change

​

the Prior

​

Stock or

​

 

​

​

​

Fair Value of

​

of

​

of Vesting

​

in Fair Value

​

Year of

​

Option

​

 

​

​

​

Outstanding

​

Outstanding

​

Date of

​

of Equity

​

Equity

​

Awards not

​

 

​

​

​

and Unvested

​

and Unvested

​

Equity

​

Awards

​

Awards that

​

Otherwise

​

 

​

​

​

Equity

​

Equity

​

Awards

​

Granted in

​

Failed to

​

Reflected in

​

Total

​

​

Awards

​

Awards

​

Granted and

​

Prior Years

​

Meet Vesting

​

Fair Value or

​

Equity

​

​

Granted in

​

Granted in

​

Vested in the

​

that Vested

​

Conditions in

​

Total

​

Award

Year

​

the Year

​

Prior Years

​

Year

​

in the Year

​

the Year

​

Compensation

​

Adjustments

2025

​

$

—

​

$

—

​

$

—

​

$

10,070

​

$

—

​

$

—

​

$

10,070

2024

​

$

—

​

$

—

​

$

—

​

$

(11,480)

​

$

—

​

$

—

​

$

(11,480)

2023

​

$

—

​

$

(1,750)

​

$

—

​

$

(10,217)

​

$

—

​

$

—

​

$

(11,967)

​

(5) Cumulative TSR is calculated by dividing the sum of the cumulative amount of cash dividends for the measurement period, assuming dividend reinvestment, and the difference between the Corporation’s share price at the end and the beginning of the measurement period by the share price at the beginning of the measurement period.

​

(6) The dollar amounts reported represent the amount of net income (loss) reflected in our consolidated audited financial statements for the applicable year.

    
Named Executive Officers, Footnote                

(1)

The dollar amounts reported in column (b) are the amounts of total compensation reported for Mr. Stopko (President and Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation—Summary Compensation Table.”

(3)

The dollar amounts reported in column (d) represent the average of the amounts reported for our company’s named executive officers as a group (excluding Mr. Stopko) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the named executive officers (excluding Mr. Stopko) included for purposes of calculating the average amounts in each applicable year are as follows: for 2025 and 2024, Mr. Finui and Mr. Lynch; and for 2023, Mr. Lynch and James T. Huerth.

    
PEO Total Compensation Amount                 $ 626,931 $ 503,959 $ 561,439
PEO Actually Paid Compensation Amount                 $ 637,531 487,159 519,383
Adjustment To PEO Compensation, Footnote                

(2)

The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. Stopko, as computed in accordance with Item 402(v) of SEC Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Stopko during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. Stopko’s total compensation for each year to determine the compensation actually paid:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Reported

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

Summary

​

​

​

​

​

​

​

​

​

​

​

Compensation

​

Reported

​

Equity

​

Compensation

​

​

Table Total for

​

Value of Equity

​

Award

​

Actually Paid to

Year

​

PEO

​

Awards(a)

​

Adjustments(b)

​

PEO

2025

​

$

626,931

​

$

—

​

$

10,600

​

$

637,531

2024

​

$

503,959

​

$

—

​

$

(16,800)

​

$

487,159

2023

​

$

561,439

​

$

—

​

$

(42,056)

​

$

519,383

(a)

The grant date fair value of equity awards represents the total of the amounts reported in the “Option Awards” columns in the Summary Compensation Table for the applicable year.

(b)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) an amount equal to the change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in  same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, an amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Dividends or

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

other

​

​

​

​

​

​

​

​

Year over

​

​

​

​

​

​

​

Fair Value at

​

Earnings

​

​

​

​

​

​

​

​

Year Change

​

​

​

​

Year over

​

the End of

​

Paid on

​

​

​

​

​

Year End

​

in Fair Value

​

Fair Value as

​

Year Change

​

the Prior

​

Stock or

​

​

​

​

​

Fair Value of

​

of

​

of Vesting

​

in Fair Value

​

Year of

​

Option

​

​

​

​

​

Outstanding

​

Outstanding

​

Date of

​

of Equity

​

Equity

​

Awards not

​

​

​

​

​

and Unvested

​

and Unvested

​

Equity

​

Awards

​

Awards that

​

Otherwise

​

​

​

​

​

Equity

​

Equity

​

Awards

​

Granted in

​

Failed to

​

Reflected in

​

Total

​

​

Awards

​

Awards

​

Granted and

​

Prior Years

​

Meet Vesting

​

Fair Value or

​

Equity

​

​

Granted in

​

Granted in

​

Vested in the

​

that Vested

​

Conditions in

​

Total

​

Award

Year

​

the Year

​

Prior Years

​

Year

​

in the Year

​

the Year

​

Compensation

​

Adjustments

2025

​

$

—

​

$

—

​

$

—

​

$

10,600

​

$

—

​

$

—

​

$

10,600

2024

​

$

—

​

$

—

​

$

—

​

$

(16,800)

​

$

—

​

$

—

​

$

(16,800)

2023

​

$

—

​

$

(4,667)

​

$

—

​

$

(37,389)

​

$

—

​

$

—

​

$

(42,056)

    
Non-PEO NEO Average Total Compensation Amount                 $ 379,097 313,289 534,440
Non-PEO NEO Average Compensation Actually Paid Amount                 $ 389,167 301,809 522,473
Adjustment to Non-PEO NEO Compensation Footnote                

(4)

The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Stopko), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Stopko) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Stopko) for each year to determine the compensation actually paid, using the same methodology described in Note 2 above:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Average

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

Reported Summary

​

Average

​

​

​

​

Average

​

​

Compensation

​

Reported

​

Average Equity

​

Compensation

​

​

Table Total for

​

Value of Equity

​

Award

​

Actually Paid to

Year

​

Non-PEO NEOs

​

Awards

​

Adjustments(a)

​

Non-PEO NEOs

2025

​

$

379,097

​

$

—

​

$

10,070

​

$

389,167

2024

​

$

313,289

​

$

—

​

$

(11,480)

​

$

301,809

2023

​

$

534,440

​

$

—

​

$

(11,967)

​

$

522,473

(a)The amounts deducted or added in calculating the total average equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Dividends or

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

other

​

​

​

​

​

​

​

​

Year over

​

​

​

​

​

​

​

Fair Value at

​

Earnings

​

​

​

​

​

​

​

​

Year Change

​

​

​

​

Year over

​

the End of

​

Paid on

​

 

​

​

​

Year End

​

in Fair Value

​

Fair Value as

​

Year Change

​

the Prior

​

Stock or

​

 

​

​

​

Fair Value of

​

of

​

of Vesting

​

in Fair Value

​

Year of

​

Option

​

 

​

​

​

Outstanding

​

Outstanding

​

Date of

​

of Equity

​

Equity

​

Awards not

​

 

​

​

​

and Unvested

​

and Unvested

​

Equity

​

Awards

​

Awards that

​

Otherwise

​

 

​

​

​

Equity

​

Equity

​

Awards

​

Granted in

​

Failed to

​

Reflected in

​

Total

​

​

Awards

​

Awards

​

Granted and

​

Prior Years

​

Meet Vesting

​

Fair Value or

​

Equity

​

​

Granted in

​

Granted in

​

Vested in the

​

that Vested

​

Conditions in

​

Total

​

Award

Year

​

the Year

​

Prior Years

​

Year

​

in the Year

​

the Year

​

Compensation

​

Adjustments

2025

​

$

—

​

$

—

​

$

—

​

$

10,070

​

$

—

​

$

—

​

$

10,070

2024

​

$

—

​

$

—

​

$

—

​

$

(11,480)

​

$

—

​

$

—

​

$

(11,480)

2023

​

$

—

​

$

(1,750)

​

$

—

​

$

(10,217)

​

$

—

​

$

—

​

$

(11,967)

    
Compensation Actually Paid vs. Total Shareholder Return                

In 2023, 2024, and 2025 our cumulative TSR on the value of a fixed $100 investment was $87.27, $78.83, and $90.10 respectively. The graph below displays the relationship between this cumulative TSR increase and compensation actually paid to the PEO and NEOs:

​

Graphic

    
Compensation Actually Paid vs. Net Income                

In 2023 and 2024, net income was negative $3.3 million and $3.6 million, respectively. In 2025, net income was $5.6 million, representing a 43.5% increase year over year from 2024. The graph below displays the relationship between this net income increase and compensation actually paid to the PEO and NEOs:

​

Graphic

    
Total Shareholder Return Amount                 $ 90.1 78.83 87.27
Net Income (Loss) $ 1,442,000 $ 2,544,000 $ (282,000) $ 1,908,000 $ 889,000 $ 1,183,000 $ (375,000) $ 1,904,000 $ 5,612,000 3,601,000 (3,346,000)
PEO Name                 Mr. Stopko    
Equity Awards Adjustments, Footnote                

(b)

The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) an amount equal to the change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in  same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, an amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Dividends or

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

other

​

​

​

​

​

​

​

​

Year over

​

​

​

​

​

​

​

Fair Value at

​

Earnings

​

​

​

​

​

​

​

​

Year Change

​

​

​

​

Year over

​

the End of

​

Paid on

​

​

​

​

​

Year End

​

in Fair Value

​

Fair Value as

​

Year Change

​

the Prior

​

Stock or

​

​

​

​

​

Fair Value of

​

of

​

of Vesting

​

in Fair Value

​

Year of

​

Option

​

​

​

​

​

Outstanding

​

Outstanding

​

Date of

​

of Equity

​

Equity

​

Awards not

​

​

​

​

​

and Unvested

​

and Unvested

​

Equity

​

Awards

​

Awards that

​

Otherwise

​

​

​

​

​

Equity

​

Equity

​

Awards

​

Granted in

​

Failed to

​

Reflected in

​

Total

​

​

Awards

​

Awards

​

Granted and

​

Prior Years

​

Meet Vesting

​

Fair Value or

​

Equity

​

​

Granted in

​

Granted in

​

Vested in the

​

that Vested

​

Conditions in

​

Total

​

Award

Year

​

the Year

​

Prior Years

​

Year

​

in the Year

​

the Year

​

Compensation

​

Adjustments

2025

​

$

—

​

$

—

​

$

—

​

$

10,600

​

$

—

​

$

—

​

$

10,600

2024

​

$

—

​

$

—

​

$

—

​

$

(16,800)

​

$

—

​

$

—

​

$

(16,800)

2023

​

$

—

​

$

(4,667)

​

$

—

​

$

(37,389)

​

$

—

​

$

—

​

$

(42,056)

(a)The amounts deducted or added in calculating the total average equity award adjustments are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Value of

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Dividends or

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

other

​

​

​

​

​

​

​

​

Year over

​

​

​

​

​

​

​

Fair Value at

​

Earnings

​

​

​

​

​

​

​

​

Year Change

​

​

​

​

Year over

​

the End of

​

Paid on

​

 

​

​

​

Year End

​

in Fair Value

​

Fair Value as

​

Year Change

​

the Prior

​

Stock or

​

 

​

​

​

Fair Value of

​

of

​

of Vesting

​

in Fair Value

​

Year of

​

Option

​

 

​

​

​

Outstanding

​

Outstanding

​

Date of

​

of Equity

​

Equity

​

Awards not

​

 

​

​

​

and Unvested

​

and Unvested

​

Equity

​

Awards

​

Awards that

​

Otherwise

​

 

​

​

​

Equity

​

Equity

​

Awards

​

Granted in

​

Failed to

​

Reflected in

​

Total

​

​

Awards

​

Awards

​

Granted and

​

Prior Years

​

Meet Vesting

​

Fair Value or

​

Equity

​

​

Granted in

​

Granted in

​

Vested in the

​

that Vested

​

Conditions in

​

Total

​

Award

Year

​

the Year

​

Prior Years

​

Year

​

in the Year

​

the Year

​

Compensation

​

Adjustments

2025

​

$

—

​

$

—

​

$

—

​

$

10,070

​

$

—

​

$

—

​

$

10,070

2024

​

$

—

​

$

—

​

$

—

​

$

(11,480)

​

$

—

​

$

—

​

$

(11,480)

2023

​

$

—

​

$

(1,750)

​

$

—

​

$

(10,217)

​

$

—

​

$

—

​

$

(11,967)

    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 $ 0 0 0
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 10,600 (16,800) (42,056)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 (4,667)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 10,600 (16,800) (37,389)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 10,070 (11,480) (11,967)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 (1,750)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 10,070 (11,480) (10,217)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 0 0 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year                      
Pay vs Performance Disclosure                      
Adjustment to Compensation, Amount                 $ 0 $ 0 $ 0
v3.26.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2025
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure

Although we do not have a formal policy or obligation to grant equity awards to executive officers and directors on specific dates, we apply a consistent approach in our equity award practices by considering the granting of annual equity awards to our executive officers and directors at or around the same time each year. Annual equity awards to our Named Executive Officers are made by the compensation/human resources committee, and the grant date of these awards is the

same day that the compensation/human resources committee meets to approve the awards. The compensation/human resources committee generally meets to consider granting equity awards to our Named Executive Officers promptly following AmeriServ’s release of earnings for the fourth quarter and fiscal year. Annual retainers payable to independent directors which are paid in shares of common stock are typically purchased in the open market during the second quarter of the year. We do not take material nonpublic information into account when determining the timing and terms of equity awards, and do not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. We have not granted stock options or similar awards to our Named Executive Officers in several years.
Award Timing Method

Although we do not have a formal policy or obligation to grant equity awards to executive officers and directors on specific dates, we apply a consistent approach in our equity award practices by considering the granting of annual equity awards to our executive officers and directors at or around the same time each year. Annual equity awards to our Named Executive Officers are made by the compensation/human resources committee, and the grant date of these awards is the

same day that the compensation/human resources committee meets to approve the awards. The compensation/human resources committee generally meets to consider granting equity awards to our Named Executive Officers promptly following AmeriServ’s release of earnings for the fourth quarter and fiscal year. Annual retainers payable to independent directors which are paid in shares of common stock are typically purchased in the open market during the second quarter of the year. We do not take material nonpublic information into account when determining the timing and terms of equity awards, and do not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. We have not granted stock options or similar awards to our Named Executive Officers in several years.
Award Timing Predetermined true
Award Timing MNPI Considered false
Award Timing, How MNPI Considered We do not take material nonpublic information into account when determining the timing and terms of equity awards, and do not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.
MNPI Disclosure Timed for Compensation Value false
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.26.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

​

Risk Management and Strategy

The Company’s Enterprise Risk Management Policy assists the Board of Directors and management in clarifying their tolerance for identifying those credit, market, liquidity, operational, legal, compliance, strategic, reputation and security (information and physical) risks that have the potential to cause material financial harm to the institution, as well as describing a methodology for determining the proper level of controls to manage and mitigate those risks. Cybersecurity is a critical component of risk management, given the increasing reliance on technology and the increasing cybersecurity threat landscape. The Information Security Program is built on the Federal Financial Institutions

Examination Council (FFIEC) IT Handbooks, National Institute of Standards and Technology (NIST) Cybersecurity Framework, the Center for Internet Security (CIS) Cybersecurity Controls (CSC), and industry best practice. The Information Security Program utilizes a defense in depth strategy that leverages multiple security measures to protect Company assets and information.

​

The Board of Directors is responsible for overseeing management’s development and execution of the Company’s risk management process. Risk management is administered by a senior management team called the Management Enterprise Risk Committee (MERC). Periodic risk assessments are performed to identify technical and physical risks to information systems. These risk assessments identify internal and external threats that could cause a cybersecurity incident, assessing the likelihood of potential impact of those threats, and assessing the measures and controls in place to manage the risks. As per FFIEC guidance, a Change Management Policy and Committee are in place to manage changes to technology and systems. Information Security is a member of this Committee to evaluate changes for information security impact.

​

The Company leverages internal and external auditors to periodically review information technology and information security policy, processes, and controls to ensure they meet regulatory compliance and operate effectively. Independent penetration testing is performed annually.

​

The Company maintains an Incident Response Plan and a Crisis Communication Plan that provide documented guidelines for handling potential threats and taking appropriate measures including timely notification of cybersecurity threats and incidents to senior management and the Board of Directors when appropriate. The Incident Response Plan is managed by the Chief Information Security Officer (CISO) and is reviewed and tested at least annually. The Crisis Communication Plan, managed by the Director of Marketing and Alternative Delivery, is reviewed and tested at least annually.

​

The Company uses third-party vendors to assist in monitoring, detecting, and managing cyber threats, including managed security service monitoring, penetration testing and vulnerability assessment. The Management Enterprise Risk Committee has established risk management guidelines for third-party vendors. Through the Third-Party Risk Management Committee, the Company conducts due diligence reviews of third-party vendors before contracts or agreements for provision of services are signed and conducts ongoing due diligence and oversight procedures with the frequency of the procedures determined based on a risk assessment of the services provided. Generally, the Company’s agreements with service providers include requirements related to cybersecurity and data privacy. All such agreements are reviewed periodically. The Company cannot guarantee, however, that such agreements, due diligence, and oversight procedures will prevent a cybersecurity incident from impacting information systems. Moreover, as a result of applicable laws and regulations or applicable contractual provisions, the Company may be held responsible for cybersecurity incidents attributed to its service providers in relation to any data that the Company shares with such providers.

​

Notwithstanding our efforts at cybersecurity, no system of prevention is impenetrable, and we cannot guarantee that we will be successful in preventing or mitigating a cybersecurity incident that could have a material adverse effect on us. To date, the Company has not detected any material cybersecurity incident to our own systems. Future cybersecurity incidents could, however, materially affect our business strategy, results of operations, or financial condition.

Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]

The Company maintains comprehensive and continually evolving processes for assessing, identifying, and managing material risks from cybersecurity threats, including any potential unauthorized occurrence on, or conducted through, the Company’s information systems that may result in adverse effects on the confidentiality, integrity, or availability of such systems or any information residing on such systems. The processes relating to cybersecurity threats are integrated into the Company’s overall risk management processes, which are overseen by the Board of Directors.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

The Board of Directors is responsible for overseeing management’s development and execution of the Company’s risk management process. Risk management is administered by a senior management team called the Management Enterprise Risk Committee (MERC). Periodic risk assessments are performed to identify technical and physical risks to information systems. These risk assessments identify internal and external threats that could cause a cybersecurity incident, assessing the likelihood of potential impact of those threats, and assessing the measures and controls in place to manage the risks. As per FFIEC guidance, a Change Management Policy and Committee are in place to manage changes to technology and systems. Information Security is a member of this Committee to evaluate changes for information security impact.

Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Management Technology Committee and a Board Technology Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Company has established a Management Technology Committee and a Board Technology Committee. These Committees provide oversight and governance of information technology and the Information Security Program and meet quarterly. The Board Technology Committee’s responsibilities include: (1) monitoring the strategic deployment and usage of Information Technology throughout the Company using reports and presentations from management; (2) oversight of cybersecurity preparedness through information security reports, discussion of internal events and discussion of cybersecurity topics pertinent to the Company and the industry; (3) oversight of activities in support of the Company’s business continuity/disaster recovery program to ensure optimal corporate resiliency in the unlikely event of a disaster; and (4) providing broad strategic guidance on the technology direction of the Company by, among other things, overseeing the development of the AmeriServ Strategic Technology Plan
Cybersecurity Risk Role of Management [Text Block]

The Board of Directors is responsible for overseeing management’s development and execution of the Company’s risk management process. Risk management is administered by a senior management team called the Management Enterprise Risk Committee (MERC). Periodic risk assessments are performed to identify technical and physical risks to information systems. These risk assessments identify internal and external threats that could cause a cybersecurity incident, assessing the likelihood of potential impact of those threats, and assessing the measures and controls in place to manage the risks. As per FFIEC guidance, a Change Management Policy and Committee are in place to manage changes to technology and systems. Information Security is a member of this Committee to evaluate changes for information security impact.

​

The Company leverages internal and external auditors to periodically review information technology and information security policy, processes, and controls to ensure they meet regulatory compliance and operate effectively. Independent penetration testing is performed annually.

​

The Company maintains an Incident Response Plan and a Crisis Communication Plan that provide documented guidelines for handling potential threats and taking appropriate measures including timely notification of cybersecurity threats and incidents to senior management and the Board of Directors when appropriate. The Incident Response Plan is managed by the Chief Information Security Officer (CISO) and is reviewed and tested at least annually. The Crisis Communication Plan, managed by the Director of Marketing and Alternative Delivery, is reviewed and tested at least annually.

​

The Company uses third-party vendors to assist in monitoring, detecting, and managing cyber threats, including managed security service monitoring, penetration testing and vulnerability assessment. The Management Enterprise Risk Committee has established risk management guidelines for third-party vendors. Through the Third-Party Risk Management Committee, the Company conducts due diligence reviews of third-party vendors before contracts or agreements for provision of services are signed and conducts ongoing due diligence and oversight procedures with the frequency of the procedures determined based on a risk assessment of the services provided. Generally, the Company’s agreements with service providers include requirements related to cybersecurity and data privacy. All such agreements are reviewed periodically. The Company cannot guarantee, however, that such agreements, due diligence, and oversight procedures will prevent a cybersecurity incident from impacting information systems. Moreover, as a result of applicable laws and regulations or applicable contractual provisions, the Company may be held responsible for cybersecurity incidents attributed to its service providers in relation to any data that the Company shares with such providers.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Chief Information Officer (CIO)
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]

​

The Chief Information Security Officer (CISO) whose responsibilities constitute the second line of defense provides the vision, leadership, and strategies necessary to protect the information security of the Company. The CISO manages policy, procedure, and process to ensure the execution of the Company’s Information Security and Business Continuity/ Disaster Recovery (BC/DR) Programs. The CISO reports directly to the Chief Risk Officer to provide segregation between the first and second lines of defense. The Information Security Department, among other duties, supervises

internal employee training relating to cybersecurity risks, conducts access reviews relating to the Company’s information systems, and monitors implemented security measures. The present CISO has over 19 years of IT and information security experience across various organizations, including military service.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Company’s information technology resources are managed by the Information Technology Department, which is responsible for the first line of defense – identifying, assessing, and managing material risks from cybersecurity threats. The Information Technology Department is managed by the Chief Information Officer (CIO), who reports to the Company’s President and CEO.The Chief Information Security Officer (CISO) whose responsibilities constitute the second line of defense provides the vision, leadership, and strategies necessary to protect the information security of the Company. The CISO manages policy, procedure, and process to ensure the execution of the Company’s Information Security and Business Continuity/ Disaster Recovery (BC/DR) Programs. The CISO reports directly to the Chief Risk Officer to provide segregation between the first and second lines of defense.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
BUSINESS AND NATURE OF OPERATIONS

BUSINESS AND NATURE OF OPERATIONS

AmeriServ Financial, Inc. (the Company) is a bank holding company, headquartered in Johnstown, Pennsylvania. Through its banking subsidiary, the Company operates 16 banking locations in five southwestern Pennsylvania counties and Hagerstown, Maryland. These branches provide a full range of consumer, mortgage, and commercial financial products and wealth management services.

PRINCIPLES OF CONSOLIDATION

PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of AmeriServ Financial, Inc. and its wholly owned subsidiary, AmeriServ Financial Bank (the Bank). The Bank is a Pennsylvania state-chartered full-service bank with 15 locations in Pennsylvania and 1 location in Maryland. Through its AmeriServ Wealth and Capital Management Division, the Bank offers a complete range of trust and financial services and administers assets valued at approximately $2.7 billion and $2.6 billion that are not reported on the Company’s Consolidated Balance Sheets at December 31, 2025 and 2024, respectively. AmeriServ Wealth Advisors, Inc., an SEC-registered investment advisor, is a subsidiary of the Bank.

In addition, the Parent Company is an administrative group that provides support in such areas as audit, finance, investments, loan review, general services, and marketing. Intercompany accounts and transactions have been eliminated in preparing the Consolidated Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (generally accepted accounting principles, or GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from these estimates and the differences may be material to the Consolidated Financial Statements. The Company’s most significant estimates relate to the allowance for credit losses (related to investment securities, loans, and unfunded commitments), pension, and derivatives (interest rate swaps/hedges).
OPERATING SEGMENTS

OPERATING SEGMENTS

While the chief decision-maker monitors the revenue streams of the various products and services, operations are managed, and financial performance is evaluated on a Company-wide basis. Discrete financial information is not available other than on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. Segment reporting is described further in Note 21.
INVESTMENT SECURITIES

INVESTMENT SECURITIES

Securities are classified at the time of purchase as investment securities held to maturity if it is management’s intent and the Company has the ability to hold the securities until maturity. These held to maturity securities are carried on the Company’s books at cost, adjusted for amortization of premium and accretion of discount which is computed using the level yield method which approximates the effective interest method. Alternatively, securities are classified as available for sale if it is management’s intent at the time of purchase to hold the securities for an indefinite period of time and/or to use the securities as part of the Company’s asset/liability management strategy. Securities classified as available for sale include securities which may be sold to effectively manage interest rate risk exposure, prepayment risk, and other factors (such as liquidity requirements). These available for sale securities are reported at fair value with unrealized aggregate appreciation/depreciation excluded from income and credited/charged to accumulated other comprehensive income (loss) within shareholders’ equity on a net of tax basis. Realized gains or losses on securities sold are computed upon the adjusted cost of the specific securities sold.

Securities classified as trading assets are purchased with the intent of selling them in the near term (less than 30 days) to generate profits from short-term changes in price. Trading securities are reported at fair value with unrealized gains and losses included in income. The Company participates in limited trading activity. Specifically, during 2025, the Company established a $7.0 million investment trading account which is managed by an outside third party. The trading account is invested in U.S. Treasury and municipal securities. As of December 31, 2025, there was $99,000 of cash held

in the account available for future trading security purchases. This cash balance is included in cash and cash equivalents on the Consolidated Balance Sheets.

Additionally, the Company holds equity securities which are comprised of mutual funds held within a rabbi trust for the executive deferred compensation plan and ordinary shares issued by a borrower in satisfaction of debt previously contracted. The deferred compensation plan equity securities are reported at fair value within other assets on the Consolidated Balance Sheets and unrealized holding gains and losses are included in earnings. The ordinary shares issued in satisfaction of debt previously contracted do not have a readily determinable fair value. Therefore, they are reported at cost within other assets on the Consolidated Balance Sheets and are adjusted when observable price changes are identified or an impairment charge is recognized.

Allowance for Credit Losses – Held to Maturity Securities

The Company measures expected credit losses on held to maturity debt securities, which are comprised of U.S. government agency and mortgage-backed securities as well as municipal, corporate, and other bonds. The Company’s agency and mortgage-backed securities are issued by U.S. government entities and agencies and are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. As such, no allowance for credit losses has been established for these securities. The allowance for credit losses on the municipal, corporate, and other bonds within the held to maturity securities portfolio is calculated using the probability of default/loss given default (PD/LGD) method. The calculation is completed on a quarterly basis using the default studies provided by an industry leading source. At December 31, 2025 and 2024, the allowance for credit losses on the held to maturity securities portfolio totaled $90,000 and $89,000, respectively.

The allowance for credit losses on held to maturity debt securities is included within investment securities held to maturity on the Consolidated Balance Sheets. Changes in the allowance for credit losses are recorded within provision for credit losses on the Consolidated Statements of Operations.

Accrued interest receivable on held to maturity debt securities totaled $384,000 and $403,000 at December 31, 2025 and 2024, respectively, and is included within accrued interest income receivable on the Consolidated Balance Sheets. This amount is excluded from the estimate of expected credit losses. Held to maturity debt securities are typically classified as non-accrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When held to maturity debt securities are placed on non-accrual status, unpaid interest credited to income is reversed. The Company had no held to maturity debt securities in non-accrual status or past due over 90 days still accruing interest at December 31, 2025 and 2024.

Allowance for Credit Losses – Available for Sale Securities

The Company measures expected credit losses on available for sale debt securities when the Company does not intend to sell, or when it is not more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For available for sale debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this evaluation indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost, a credit loss exists and an allowance for credit losses is recorded for the credit loss, equal to the amount that the fair value is less than the amortized cost basis. At times, based on management judgment, the Company may establish an allowance for credit losses in excess of the amount that the fair value is less than the amortized cost basis based on specific circumstances surrounding the security. At December 31, 2025, the Company had no allowance for credit losses on the available for sale securities portfolio compared to an allowance totaling $360,000 at December 31, 2024.

The allowance for credit losses on available for sale debt securities is included within investment securities available for sale on the Consolidated Balance Sheets. Changes in the allowance for credit losses are recorded within provision for credit losses on the Consolidated Statements of Operations. Losses are charged against the allowance when the Company believes the collectability of an available for sale security is in jeopardy or when either of the criteria regarding intent or requirement to sell is met.

Accrued interest receivable on available for sale debt securities totaled $977,000 and $833,000 at December 31, 2025 and 2024, respectively, and is included within accrued interest income receivable on the Consolidated Balance Sheets. This amount is excluded from the estimate of expected credit losses. Available for sale debt securities are typically classified as non-accrual when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about the further collectability of principal or interest. When available for sale debt securities are placed on non-accrual status, unpaid interest credited to income is reversed. It should be noted that the Company had no available for sale debt securities in non-accrual status at December 31, 2025 due to the third quarter 2025 charge-off of a non-performing security totaling $1.0 million against a previously established allowance for credit losses. This is compared to one available for sale debt security in non-accrual status at December 31, 2024 totaling $1.0 million with an associated allowance for credit losses of $360,000. When this corporate security was transferred to non-accrual status, interest income from investments was unfavorably impacted due to the reversal of previously recognized income. Specifically, unpaid interest on this security which was reversed totaled $84,000 in 2024.
FEDERAL HOME LOAN BANK STOCK

FEDERAL HOME LOAN BANK STOCK

The Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB), and as such, is required to maintain a minimum investment in stock of the FHLB that varies with the level of advances outstanding with the FHLB. The stock is bought from and sold to the FHLB based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment by management. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (1) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time any such situation has persisted; (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance; (3) the impact of legislative and regulatory changes on the customer base of the FHLB; and (4) the liquidity position of the FHLB. Management evaluated the stock and concluded that the stock was not impaired for the periods presented herein.
LOANS HELD FOR SALE

LOANS HELD FOR SALE

Certain newly originated residential mortgage loans are classified as held for sale, because it is management’s intent to sell these residential mortgage loans. The residential mortgage loans held for sale are carried at the lower of aggregate cost or fair value.
LOANS

LOANS

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of any deferred fees or costs and an allowance for credit losses. Interest income is accrued on the unpaid principal balance and is recognized using the level yield method. As of December 31, 2025 and 2024, accrued interest receivable on loans totaled $4.2 million, which is reported in accrued interest income receivable on the Consolidated Balance Sheets and is excluded from the estimate of credit losses.

The Company typically discontinues the accrual of interest income when loans become 90 days past due in either principal or interest. In addition, if circumstances warrant, the accrual of interest may be discontinued prior to 90 days. Payments received on non-accrual loans are credited to principal until full recovery of principal has been recognized or the loan has been returned to accrual status. The only exception to this policy is for residential mortgage loans wherein interest income is recognized on a cash basis as payments are received. Generally, a non-accrual commercial or

consumer loan is returned to accrual status after becoming current and remaining current for twelve consecutive payments. Residential mortgage loans are typically returned to accrual status upon becoming current.
LOAN FEES

LOAN FEES

Loan origination and commitment fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan.
ALLOWANCE FOR CREDIT LOSSES - LOANS

ALLOWANCE FOR CREDIT LOSSES – LOANS

The allowance for credit losses (ACL) is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loans, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

​

The ACL is an estimate of expected credit losses, measured over the contractual life of a loan, which considers our historical loss experience, current conditions and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans.

​

The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. The Company has aligned our segmentation to the quarterly Call Report. This allowed the Company to use not only our data but also peer institutions’ data to supplement loss observations in determining our qualitative adjustments. Some further sub-segmenting was performed on the commercial and industrial (C&I) and commercial real estate (CRE) portfolios based on collateral type. The Company has identified the following portfolio segments:

​

●Commercial Real Estate Owner Occupied
●Commercial and Industrial
●Commercial Real Estate Non-Owner Occupied – Retail
●Commercial Real Estate Non-Owner Occupied – Multi-Family
●Commercial Real Estate Non-Owner Occupied – Other
●Residential Mortgages
●Consumer

​

The Company is utilizing the static pool analysis (cohort) method for our current expected credit losses (CECL) model. The static pool analysis methodology captures loans that qualify for a segment (i.e. balance of a pool of loans with similar risk characteristics) as of a point in time to form a cohort, then tracks that cohort over their remaining lives to determine their loss behavior. The remaining lifetime loss rate is then applied to current loans that qualify for the same segmentation criteria to form a remaining life expectation on current loans. Once historical cohorts are established, the loans in each individual cohort are tracked over their remaining lives for loss and recovery events. Each cohort is evaluated individually, and as a result, a loss may be counted in several different quarterly cohort periods, as long as the specific loan existed in the population of each of those cohort periods.

Historical credit loss experience is the basis for the estimation of expected credit losses. The Company applies historical loss rates to pools of loans with similar risk characteristics. After consideration of the historic loss calculation, management applies qualitative adjustments to reflect the current conditions and reasonable and supportable forecasts not already captured in the historical loss information at the balance sheet date. Our reasonable and supportable forecast adjustment is based on a blend of peer and Company data as well as management judgment. Including peer data addresses the Company’s lack of loss history in some pools of loans. For periods beyond our reasonable and supportable forecast period of two years, loss expectations revert to the long-run historical mean. The qualitative adjustments for current conditions are based upon the following factors:

●changes in lending policies and procedures;
●changes in economic conditions;
●changes in the nature and volume of the portfolio;
●staff experience;
●changes in volume and severity of delinquency, non-performing loans, and classified loans;
●changes in the quality of the Company’s loan review system;
●trends in underlying collateral value;
●concentration risk; and
●external factors: competition, legal, regulatory.

​

These modified historical loss rates are multiplied by the outstanding principal balance of each loan to calculate a required reserve. Ultimately, 41% of the fourth quarter of 2025 general reserve represented qualitative adjustment with 59% representing quantitative reserve.

In accordance with ASC 326, Financial Instruments – Credit Losses, the Company will evaluate individual loans for expected credit losses when those loans do not share similar risk characteristics with loans evaluated using a collective (pooled) basis. In contrast to legacy accounting standards, this criterion is broader than the impairment concept and management may evaluate loans individually even when no specific expectation of collectability is in place. Loans will not be included in both collective and individual analysis. The individual analysis will establish a specific reserve for loans in scope. It should be noted that there is a review threshold of $150,000 or more for loans being subject to individual evaluation within the consumer and residential mortgage segments.

​

Specific reserves are established based on the following three acceptable methods for measuring the ACL: 1) the present value of expected future cash flows discounted at the loan’s original effective interest rate; 2) the loan’s observable market price; or 3) the fair value of the collateral when the loan is collateral dependent. The method is selected on a loan-by-loan basis, with management primarily utilizing either the discounted cash flows or the fair value of collateral methods. The evaluation of the need and amount of a specific allocation of the allowance is made on a quarterly basis.

​

The need for an updated appraisal on collateral dependent loans is determined on a case-by-case basis. The useful life of an appraisal or evaluation will vary depending upon the circumstances of the property and the economic conditions in the marketplace. A new appraisal is not required if there is an existing appraisal which, along with other information, is sufficient to determine a reasonable value for the property and to support an appropriate and adequate allowance for credit losses. At a minimum, annual documented reevaluation of the property is completed by the Bank’s internal Collections and Assigned Risk Department to support the value of the property.

When reviewing an appraisal associated with an existing real estate collateral dependent transaction, the Bank’s Chief Credit Officer must determine if there have been material changes to the underlying assumptions in the appraisal which affect the original estimate of value. Some of the factors that could cause material changes to reported values include:

●the passage of time;
●the volatility of the local market;
●the availability of financing;
●natural disasters;
●the inventory of competing properties;
●new improvements to, or lack of maintenance of, the subject property or competing properties upon physical inspection by the Bank;
●changes in underlying economic and market assumptions, such as material changes in current and projected vacancy, absorption rates, capitalization rates, lease terms, rental rates, sales prices, concessions, construction overruns and delays, zoning changes, etc.; and/or
●environmental contamination.

The value of the property is adjusted to appropriately reflect the above listed factors and the value is discounted to reflect the value impact of a forced or distressed sale, any outstanding senior liens, any outstanding unpaid real estate taxes, transfer taxes and closing costs that would occur with sale of the real estate. If the Chief Credit Officer determines that a reasonable value cannot be derived based on available information, a new appraisal is ordered. The determination of the need for a new appraisal, versus completion of a property valuation by the Bank’s Collections and Assigned Risk Department personnel, rests with the Chief Credit Officer and not the originating account officer.
ALLOWANCE FOR CREDIT LOSSES - UNFUNDED LOAN COMMITMENTS AND LETTERS OF CREDIT

ALLOWANCE FOR CREDIT LOSSES – UNFUNDED LOAN COMMITMENTS AND LETTERS OF CREDIT

The Company estimates expected credit losses over the contractual period in which it is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancelable. The allowance for credit losses on off-balance sheet credit exposures is adjusted through the provision for credit losses line on the Consolidated Statements of Operations. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The carrying amount of the allowance for credit losses for the Company’s obligations related to unfunded commitments and standby letters of credit is reported in other liabilities on the Consolidated Balance Sheets.

TRANSFERS OF FINANCIAL ASSETS

TRANSFERS OF FINANCIAL ASSETS

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company; (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

Premises and equipment are stated at cost less accumulated depreciation and amortization. Land is carried at cost. Depreciation is charged to operations over the estimated useful lives of the premises and equipment using the straight-line method. Useful lives of up to 30 years for buildings and up to 10 years for equipment are utilized. Leasehold improvements are amortized using the straight-line method over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance, repairs, and minor alterations are charged to current operations as expenditures are incurred.
LEASES

LEASES

​

The Company has operating and financing leases for several office locations and equipment. Generally, the underlying lease agreements do not contain any material residual value guarantees or material restrictive covenants. Many of our leases include both lease (e.g., minimum rent payments) and non-lease components, such as common area maintenance charges, utilities, real estate taxes, and insurance. The Company has elected to account for the variable non-lease components separately from the lease component. Such variable non-lease components are reported in net occupancy expense on the Consolidated Statements of Operations when incurred. These variable non-lease components were excluded from the calculation of the present value of the remaining lease payments; therefore, they are not included in the right-of-use assets and lease liabilities reported on the Consolidated Balance Sheets.

Certain of the Company’s leases contain options to renew the lease after the initial term. Management considers the Company’s historical pattern of exercising renewal options on leases and the performance of the leased locations when determining whether it is reasonably certain that the leases will be renewed. If management concludes that there is reasonable certainty about the renewal option, it is included in the calculation of the remaining term of each applicable lease. The discount rate utilized in calculating the present value of the remaining lease payments for each lease is the Federal Home Loan Bank of Pittsburgh advance rate corresponding to the remaining maturity of the lease.

Under ASC 842, the lessee can elect to not record on the Consolidated Balance Sheets a lease whose term is twelve months or less and does not include a purchase option that the lessee is reasonably certain to exercise. As of December 31, 2025 and 2024, the Company had no short-term leases.
BANK-OWNED LIFE INSURANCE

BANK-OWNED LIFE INSURANCE

The Company has purchased life insurance policies on certain current and previous employees. These policies are recorded on the Consolidated Balance Sheets at their cash surrender value, or the amount that can be realized. Income from these policies and changes in the cash surrender value are recorded in bank owned life insurance within non-interest income. Additionally, income is accrued on certain policies that have reached the minimum floor rate of return. This guaranteed portion of income is not added to the cash surrender value of the policy until the policy anniversary date and is reported in other assets on the Consolidated Balance Sheets.
INTANGIBLE ASSETS

INTANGIBLE ASSETS

Goodwill arising from business combinations represents the value attributable to unidentifiable intangible elements in the business acquired. Goodwill is not amortized but is periodically evaluated for impairment. The Company tests goodwill for impairment on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts.

Identifiable intangible assets are amortized to their estimated residual values over their expected useful lives. Such lives are also periodically reassessed to determine if any amortization period adjustments are required. The identifiable intangible assets consist of a core deposit intangible which is being amortized on an accelerated basis over a ten-year useful life.
EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares in the calculation. Treasury shares are excluded for earnings per share purposes. Options to purchase 166,000 and 194,000 shares of common stock were outstanding during 2025 and 2024, respectively, but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. Exercise prices of anti-dilutive options to purchase common stock outstanding were $2.96 to $4.22 during 2025 and 2024.

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

Numerator:

​

​

​

​

​

​

Net income

​

$

5,612

​

$

3,601

Denominator:

​

 

  ​

​

 

  ​

Weighted average common shares outstanding (basic)

​

 

16,519,809

​

 

16,802,383

Effect of stock options

​

 

—

​

 

—

Effect of common stock issuable

​

 

10,084

​

 

—

Weighted average common shares outstanding (diluted)

​

 

16,529,893

​

 

16,802,383

Earnings per common share:

​

 

  ​

​

 

  ​

Basic

​

$

0.34

​

$

0.21

Diluted

​

 

0.34

​

 

0.21

​
STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

The Company uses the modified prospective method for accounting of stock-based compensation. The fair value of each option grant is estimated on the grant date using the Binomial or Black-Scholes option pricing model and the expense is recognized ratably over the service period. Forfeitures are recognized as they occur. See Note 17 for details on the assumptions used.
ACCUMULATED OTHER COMPREHENSIVE LOSS

ACCUMULATED OTHER COMPREHENSIVE LOSS

The Company presents the components of other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income. These components are comprised of the change in the defined benefit pension obligation, the unrealized holding gains (losses) on available for sale securities, net of any reclassification adjustments for realized gains and losses, and fair value change for the interest rate hedges, net of any reclassification adjustments for reduction of interest expense.
CONSOLIDATED STATEMENT OF CASH FLOWS

CONSOLIDATED STATEMENT OF CASH FLOWS

On a consolidated basis, cash and cash equivalents include cash and due from depository institutions, interest bearing deposits, and short-term investments in both money market funds and commercial paper. The Company made $325,000 in income tax payments during 2025 compared to receiving a $1.1 million income tax refund in 2024. The Company made total interest payments of $28.5 million in 2025 compared to $30.8 million in 2024. The Company had non-cash transfers to other real estate owned (OREO) and repossessed assets of $49,000 in 2025 and $1.9 million in 2024. During 2025, the Company entered into a new operating lease related to an office location and recorded a right-of-use asset and lease liability of $32,000. During 2024, the Company entered into a new operating lease related to an office location and recorded a right-of-use asset and lease liability of $1.1 million. Additionally, during 2024, the Company entered into two new financing leases related to an office location and equipment and recorded a right-of-use asset and lease liability of $298,000. The execution of these new leases was partially offset by the termination of two financing leases related to an office location and equipment which led to the write-off of $141,000 of right-of-use assets and lease liabilities during 2024.

INCOME TAXES

INCOME TAXES

Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate. Deferred income tax expenses or credits are based on the changes in the corresponding asset or liability from period to period. Deferred tax assets are reduced, if necessary, by the amounts of such benefits that are not expected to be realized based upon available evidence.
INTEREST RATE CONTRACTS

INTEREST RATE CONTRACTS

The Company recognizes all derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and hedged item related to the hedged risk are recognized in earnings. Changes in fair value of derivatives designated and accounted for as cash flow hedges, to the extent they are effective as hedges, are recorded in other comprehensive income (loss), net of deferred taxes and are subsequently reclassified to earnings when the hedged transaction affects earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item.

The Company periodically enters into derivative instruments to meet the financing, interest rate and equity risk management needs of its customers or the Bank. Upon entering into these instruments to meet customer needs, the Company enters into offsetting positions to minimize interest rate and equity risk to the Company. These derivative financial instruments are reported at fair value with any resulting gain or loss recorded in current period earnings in amounts that offset. These instruments and their offsetting positions are recorded in other assets and other liabilities on the Consolidated Balance Sheets.
PENSION

PENSION

Pension costs and liabilities are dependent on assumptions used in calculating such amounts. These assumptions include discount rates, benefits earned, interest costs, expected return on plan assets, mortality rates, and other factors. In accordance with GAAP, actual results that differ from the assumptions are accumulated and amortized over future periods and, therefore, generally affect recognized expense and the recorded obligation of future periods. While management believes that the assumptions used are appropriate, differences in actual experience or changes in

assumptions may affect the Company’s pension obligations and future expense. Additionally, pension expense can also be impacted by settlement accounting charges if the amount of employee selected lump sum distributions exceed the total amount of service and interest component costs of the net periodic pension (benefit) cost in a particular year.

The service cost component of net periodic pension (benefit) cost is determined by aggregating the product of the discounted cash flows of the plan’s service cost for each year and an individual spot rate (referred to as the “spot rate” approach). The interest cost component is determined by aggregating the product of the discounted cash flows of the plan’s projected benefit obligations for each year and an individual spot rate. Management believes this methodology is an appropriate measure of the service cost and interest cost as each year’s cash flows are specifically linked to the interest rates of bond payments in the same respective year. The Company’s pension benefits are described further in Note 15 of the Notes to Consolidated Financial Statements.
FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company groups its assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are:

Level I — Valuation is based upon quoted prices for identical instruments traded in active markets.

Level II — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level III — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset.

Fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is the Company’s policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy in generally accepted accounting principles.
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of earnings per common share

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

Numerator:

​

​

​

​

​

​

Net income

​

$

5,612

​

$

3,601

Denominator:

​

 

  ​

​

 

  ​

Weighted average common shares outstanding (basic)

​

 

16,519,809

​

 

16,802,383

Effect of stock options

​

 

—

​

 

—

Effect of common stock issuable

​

 

10,084

​

 

—

Weighted average common shares outstanding (diluted)

​

 

16,529,893

​

 

16,802,383

Earnings per common share:

​

 

  ​

​

 

  ​

Basic

​

$

0.34

​

$

0.21

Diluted

​

 

0.34

​

 

0.21
v3.26.1
REVENUE RECOGNITION (Tables)
 12 Months Ended
Dec. 31, 2025
REVENUE RECOGNITION  
Schedule of non-interest income, segregated by revenue

The following presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 

​

 

2025

  ​ ​ ​

2024

​

​

​

​

​

​

​

Non-interest income:

​

​

​

​

​

​

In-scope of Topic 606

 

​

  ​

 

​

  ​

Wealth management fees

​

$

11,560

​

$

12,318

Service charges on deposit accounts

​

 

1,145

​

 

1,188

Other

​

 

1,929

​

 

2,115

Non-interest income (in-scope of Topic 606)

​

 

14,634

​

 

15,621

Non-interest income (out-of-scope of Topic 606)

​

 

2,355

​

 

2,354

Total non-interest income

​

$

16,989

​

$

17,975

​
v3.26.1
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2025
INVESTMENT SECURITIES  
Summary of amortized cost and fair value of securities available-for-sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

​

​

​

GROSS

​

GROSS

​

ALLOWANCE

​

​

​

​

​

​

​

​

UNREALIZED

​

UNREALIZED

​

FOR CREDIT

​

FAIR

​

  ​ ​ ​

COST BASIS

  ​ ​ ​

GAINS

  ​ ​ ​

LOSSES

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

​

$

5,162

​

$

—

​

$

(372)

​

$

—

​

$

4,790

U.S. Agency mortgage-backed securities

​

 

119,381

​

 

639

​

 

(9,164)

​

​

—

​

 

110,856

Municipal

​

 

10,155

​

 

140

​

 

(361)

​

​

—

​

 

9,934

Corporate bonds

​

 

51,473

​

 

387

​

 

(1,212)

​

​

—

​

 

50,648

Total

​

$

186,171

​

$

1,166

​

$

(11,109)

​

$

—

​

$

176,228

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

​

​

​

​

GROSS

​

GROSS

​

ALLOWANCE

​

​

​

​

​

​

​

​

UNREALIZED

​

UNREALIZED

​

FOR CREDIT

​

FAIR

​

  ​ ​ ​

COST BASIS

  ​ ​ ​

GAINS

  ​ ​ ​

LOSSES

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

​

$

5,345

​

$

—

​

$

(679)

​

$

—

​

$

4,666

U.S. Agency mortgage-backed securities

​

 

104,227

​

 

90

​

 

(12,783)

​

​

—

​

 

91,534

Municipal

​

 

9,031

​

 

2

​

 

(670)

​

​

—

​

 

8,363

Corporate bonds

​

 

54,254

​

 

94

​

 

(2,931)

​

​

(360)

​

 

51,057

Total

​

$

172,857

​

$

186

​

$

(17,063)

​

$

(360)

​

$

155,620
Summary of amortized cost and fair value of securities held-to-maturity

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

​

​

​

ALLOWANCE

​

​

​

GROSS

​

GROSS

​

​

​

​

​

​

​

FOR CREDIT

​

CARRYING

​

UNREALIZED

​

UNREALIZED

​

FAIR

​

  ​ ​ ​

COST BASIS

  ​ ​ ​

LOSSES

​

VALUE

  ​ ​ ​

GAINS

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

​

$

2,500

​

$

—

​

$

2,500

​

$

—

​

$

(216)

​

$

2,284

U.S. Agency mortgage-backed securities

​

​

36,592

​

​

—

​

​

36,592

​

​

210

​

​

(1,820)

​

​

34,982

Municipal

​

 

30,754

​

 

(1)

​

 

30,753

​

 

6

​

 

(1,415)

​

 

29,344

Corporate bonds and other securities

​

 

2,500

​

 

(89)

​

 

2,411

​

 

—

​

 

(105)

​

 

2,306

Total

​

$

72,346

​

$

(90)

​

$

72,256

​

$

216

​

$

(3,556)

​

$

68,916

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

​

​

​

​

ALLOWANCE

​

​

​

GROSS

​

GROSS

​

​

​

​

​

​

​

FOR CREDIT

​

CARRYING

​

UNREALIZED

​

UNREALIZED

​

FAIR

​

​

COST BASIS

  ​ ​ ​

LOSSES

​

VALUE

  ​ ​ ​

GAINS

​

LOSSES

  ​ ​ ​

VALUE

​

​

(IN THOUSANDS)

U.S. Agency

  ​ ​ ​

$

2,500

​

$

—

​

$

2,500

​

$

—

​

$

(365)

​

$

2,135

U.S. Agency mortgage-backed securities

  ​ ​ ​

​

26,966

​

​

—

​

​

26,966

​

​

28

​

​

(2,403)

​

​

24,591

Municipal

​

 

30,961

​

 

(2)

​

 

30,959

​

 

—

​

 

(2,553)

​

 

28,406

Corporate bonds and other securities

​

 

3,499

​

 

(87)

​

 

3,412

​

 

—

​

 

(73)

​

 

3,339

Total

​

$

63,926

​

$

(89)

​

$

63,837

​

$

28

​

$

(5,394)

​

$

58,471
Schedule of investment securities

Investment securities available for sale:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TOTAL

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

U.S. AGENCY

​

INVESTMENT

​

​

​

​

​

​

​

​

​

MORTGAGE-

​

SECURITIES

​

​

​

​

​

​

CORPORATE

​

BACKED

​

AVAILABLE

​

​

U. S. AGENCY

​

MUNICIPAL

​

BONDS

​

SECURITIES

​

FOR SALE

​

​

(IN THOUSANDS)

COST BASIS

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Within 1 year

​

$

—

 

$

700

 

$

7,793

 

$

—

​

$

8,493

After 1 year but within 5 years

​

 

3,112

 

 

4,372

 

 

15,841

 

 

1,100

​

 

24,425

After 5 years but within 10 years

​

 

1,000

 

 

4,103

 

 

26,089

 

 

3,976

​

 

35,168

Over 10 years

​

 

1,050

 

 

980

 

 

1,750

 

 

114,305

​

 

118,085

Total

​

$

5,162

 

$

10,155

 

$

51,473

 

$

119,381

​

$

186,171

FAIR VALUE

​

 

  ​

 

 

  ​

 

 

  ​

 

 

  ​

 

 

 

Within 1 year

​

$

—

 

$

700

 

$

7,739

​

$

—

​

$

8,439

After 1 year but within 5 years

​

 

2,904

 

 

4,124

 

 

15,772

​

 

1,097

​

 

23,897

After 5 years but within 10 years

​

 

899

 

 

4,126

 

 

25,356

​

 

3,871

​

 

34,252

Over 10 years

​

 

987

 

 

984

 

 

1,781

​

 

105,888

​

 

109,640

Total

​

$

4,790

 

$

9,934

 

$

50,648

​

$

110,856

​

$

176,228

​

Investment securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

  ​ ​ ​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

TOTAL 

​

​

​

​

​

​

​

​

​

​

​

U.S. AGENCY

​

INVESTMENT

​

​

​

​

​

​

​

​

CORPORATE

​

MORTGAGE-

​

SECURITIES 

​

​

​

​

​

​

​

​

BONDS AND

​

BACKED

​

HELD TO

​

​

U.S. AGENCY

​

MUNICIPAL

​

OTHER

​

SECURITIES

​

MATURITY

​

​

(IN THOUSANDS)

CARRYING VALUE

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

​

Within 1 year

​

$

—

 

$

1,406

 

$

1,000

 

$

—

 

$

2,406

After 1 year but within 5 years

​

 

—

​

 

15,844

​

 

—

​

 

—

​

 

15,844

After 5 years but within 10 years

​

 

2,500

​

 

13,188

​

 

1,411

​

 

1,031

​

 

18,130

Over 10 years

​

 

—

​

 

315

​

 

—

​

 

35,561

​

 

35,876

Total

​

$

2,500

​

$

30,753

​

$

2,411

​

$

36,592

​

$

72,256

FAIR VALUE

​

 

  ​

 

 

  ​

 

 

  ​

 

 

  ​

 

 

  ​

Within 1 year

​

$

—

 

$

1,404

 

$

980

 

$

—

 

$

2,384

After 1 year but within 5 years

​

 

—

​

 

15,569

​

 

—

​

 

—

​

 

15,569

After 5 years but within 10 years

​

 

2,284

​

 

12,085

​

 

1,326

​

 

1,014

​

 

16,709

Over 10 years

​

 

—

​

 

286

​

 

—

​

 

33,968

​

 

34,254

Total

​

$

2,284

​

$

29,344

​

$

2,306

​

$

34,982

​

$

68,916
Schedule of investments with unrealized losses

The following tables summarize the available for sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025 and 2024, aggregated by security type and length of time in a continuous loss position (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

LESS THAN 12 MONTHS

​

12 MONTHS OR LONGER

​

TOTAL

​

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

U.S. Agency

​

$

—

​

$

—

​

$

4,790

​

$

(372)

​

$

4,790

​

$

(372)

U.S. Agency mortgage-backed securities

​

​

9,198

​

​

(28)

​

​

60,272

​

​

(9,136)

​

​

69,470

​

​

(9,164)

Municipal

​

 

—

​

​

—

​

​

5,670

​

​

(361)

​

​

5,670

​

​

(361)

Corporate bonds

​

 

5,086

​

​

(64)

​

​

20,416

​

​

(1,148)

​

​

25,502

​

​

(1,212)

Total

​

$

14,284

​

$

(92)

​

$

91,148

​

$

(11,017)

​

$

105,432

​

$

(11,109)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

​

LESS THAN 12 MONTHS

​

12 MONTHS OR LONGER

​

TOTAL

​

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

FAIR

​

UNREALIZED

​

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

  ​ ​ ​

VALUE

  ​ ​ ​

LOSSES

U.S. Agency

​

$

—

​

$

—

​

$

4,666

​

$

(679)

​

$

4,666

​

$

(679)

U.S. Agency mortgage-backed securities

​

​

16,104

​

​

(275)

​

​

63,323

​

​

(12,508)

​

​

79,427

​

​

(12,783)

Municipal

​

 

—

​

​

—

​

​

8,121

​

​

(670)

​

​

8,121

​

​

(670)

Corporate bonds

​

 

9,500

​

​

(675)

​

​

34,612

​

​

(2,256)

​

​

44,112

​

​

(2,931)

Total

​

$

25,604

​

$

(950)

​

$

110,722

​

$

(16,113)

​

$

136,326

​

$

(17,063)
Schedule of allowance for credit losses on available for sale debt securities

The following tables present the activity in the allowance for credit losses on available for sale debt securities by major security type for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2024

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2025

Corporate bonds

​

$

360

​

$

(1,000)

​

$

—

​

$

640

​

$

—

Total

​

$

360

​

$

(1,000)

​

$

—

​

$

640

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2023

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2024

Corporate bonds

​

$

926

​

$

(491)

​

$

—

​

$

(75)

​

$

360

Total

​

$

926

​

$

(491)

​

$

—

​

$

(75)

​

$

360
Schedule of allowance for credit losses on held to maturity debt securities

The following tables present the activity in the allowance for credit losses on held to maturity debt securities by major security type for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2024

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2025

Municipal

​

$

2

​

$

—

​

$

—

​

$

(1)

​

$

1

Corporate bonds and other securities

​

​

87

​

​

—

​

​

—

​

​

2

​

​

89

Total

​

$

89

​

$

—

​

$

—

​

$

1

​

$

90

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT DECEMBER 31, 2023

​

CHARGE-OFFS

​

RECOVERIES

​

PROVISION (RECOVERY)

​

BALANCE AT DECEMBER 31, 2024

Municipal

​

$

2

​

$

—

​

$

—

​

$

—

​

$

2

Corporate bonds and other securities

​

​

35

​

​

—

​

​

—

​

​

52

​

​

87

Total

​

$

37

​

$

—

​

$

—

​

$

52

​

$

89
Schedule of amortized cost of held to maturity debt securities aggregated by credit quality indicator

Specifically, the following table summarizes the carrying value of held to maturity debt securities at December 31, 2025, aggregated by credit quality indicator (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

​

CREDIT RATING

​

​

AAA/AA/A

​

BBB/BB/B

​

UNRATED

​

TOTAL

U.S. Agency

  ​ ​ ​

$

2,500

​

$

—

  ​ ​ ​

$

—

  ​ ​ ​

$

2,500

U.S. Agency mortgage-backed securities

​

​

36,592

​

​

—

​

​

—

​

​

36,592

Municipal

​

​

30,753

​

​

—

​

​

—

​

​

30,753

Corporate bonds and other securities

​

​

1,000

​

​

—

​

​

1,411

​

​

2,411

Total

​

$

70,845

​

$

—

​

$

1,411

​

$

72,256
Schedule of trading securities at estimated fair value

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

U.S. Treasury

​

$

3,401

​

$

—

Municipal

 

​

3,852

​

​

—

Total

​

$

7,253

​

$

—
Schedule of net gain on trading securities included in trading securities revenue

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Net realized gain on sales

​

$

213

​

$

—

Net unrealized gain

​

 

29

​

 

—

Net gain on trading securities

​

 

242

​

 

—

Less: Portfolio expenses and management fees

​

 

124

​

 

—

Trading securities revenue

​

$

118

​

$

—
v3.26.1
LOANS (Tables)
 12 Months Ended
Dec. 31, 2025
LOANS  
Schedule of loan portfolio

The loan portfolio of the Company consists of the following:

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Commercial:

​

​

​

​

​

​

Commercial real estate (owner occupied) (1)

​

$

85,233

​

$

86,953

Commercial and industrial

​

​

144,325

​

​

147,251

Commercial real estate (non-owner occupied):

 

​

​

​

​

​

Retail (1)

​

​

171,530

​

​

181,778

Multi-family (1)

​

​

131,085

​

​

132,364

Other (1)

​

​

217,935

​

​

233,882

Residential mortgages (1)

 

​

169,814

​

​

177,110

Consumer

 

​

112,805

​

​

108,611

Loans, net of unearned income

​

$

1,032,727

​

$

1,067,949

(1)Real estate construction loans constituted 5.0% and 3.6% of the Company’s total loans, net of unearned income as of December 31, 2025 and 2024, respectively.
Schedule of loan activity with related parties

The following tables summarize the loan activity with related parties for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

​

​

BALANCE AT DECEMBER 31, 2024

​

ADDITIONS

​

REPAYMENTS

​

BALANCE AT DECEMBER 31, 2025

Loans to related parties

​

$

540

​

$

110

​

$

151

​

$

499

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

​

​

BALANCE AT DECEMBER 31, 2023

​

ADDITIONS

​

REPAYMENTS

​

BALANCE AT DECEMBER 31, 2024

Loans to related parties

​

$

663

​

$

48

​

$

171

​

$

540

​
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS (Tables)
 12 Months Ended
Dec. 31, 2025
ALLOWANCE FOR CREDIT LOSSES - LOANS  
Schedule of loan losses by portfolio segment

The following tables summarize the roll forward of the allowance for credit losses by loan portfolio segment for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT

​

CHARGE-

​

​

​

​

PROVISION 

​

BALANCE AT

​

  ​ ​ ​

DECEMBER 31, 2024

​

OFFS

  ​ ​ ​

RECOVERIES

  ​ ​ ​

(RECOVERY)

  ​ ​ ​

DECEMBER 31, 2025

Commercial real estate (owner occupied)

​

$

398

​

$

—

​

$

24

​

$

(103)

​

$

319

Commercial and industrial

​

 

2,860

​

 

(1,774)

​

 

65

​

 

1,836

​

 

2,987

Commercial real estate (non-owner occupied) - retail

​

 

3,695

​

 

—

​

 

—

​

 

(447)

​

 

3,248

Commercial real estate (non-owner occupied) - multi-family

​

 

1,478

​

 

—

​

 

—

​

 

(75)

​

 

1,403

Other commercial real estate (non-owner occupied)

​

 

3,451

​

 

(3,145)

​

 

12

​

 

3,407

​

 

3,725

Residential mortgages

​

 

839

​

 

—

​

 

5

​

 

(548)

​

 

296

Consumer

​

 

1,191

​

 

(154)

​

 

75

​

 

38

​

 

1,150

Total

​

$

13,912

​

$

(5,073)

​

$

181

​

$

4,108

​

$

13,128

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

BALANCE AT

​

CHARGE-

​

​

​

​

PROVISION 

​

BALANCE AT

​

  ​ ​ ​

DECEMBER 31, 2023

​

OFFS

  ​ ​ ​

RECOVERIES

  ​ ​ ​

(RECOVERY)

  ​ ​ ​

DECEMBER 31, 2024

Commercial real estate (owner occupied)

​

$

1,529

​

$

—

​

$

24

​

$

(1,155)

​

$

398

Commercial and industrial

​

 

3,030

​

 

(427)

​

 

45

​

 

212

​

 

2,860

Commercial real estate (non-owner occupied) - retail

​

 

3,488

​

 

—

​

 

—

​

 

207

​

 

3,695

Commercial real estate (non-owner occupied) - multi-family

​

 

1,430

​

 

—

​

 

3

​

 

45

​

 

1,478

Other commercial real estate (non-owner occupied)

​

 

3,428

​

 

(1,571)

​

 

11

​

 

1,583

​

 

3,451

Residential mortgages

​

 

1,021

​

 

—

​

 

18

​

 

(200)

​

 

839

Consumer

​

 

1,127

​

 

(207)

​

 

81

​

 

190

​

 

1,191

Total

​

$

15,053

​

$

(2,205)

​

$

182

​

$

882

​

$

13,912

​
Schedule of loan portfolio and allowance for credit losses

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

​

​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

Loans:

  ​ ​ ​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Individually evaluated

​

$

2,875

​

$

2,148

​

$

415

​

$

—

​

$

2,034

​

$

155

​

$

—

​

$

7,627

Collectively evaluated

​

 

82,358

​

 

142,177

​

 

171,115

​

 

131,085

​

 

215,901

​

 

169,659

​

 

112,805

​

 

1,025,100

Total loans

​

$

85,233

​

$

144,325

​

$

171,530

​

$

131,085

​

$

217,935

​

$

169,814

​

$

112,805

​

$

1,032,727

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

Allowance for

​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

credit losses:

  ​ ​ ​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Specific reserve allocation

​

$

—

​

$

558

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

558

General reserve allocation

​

 

319

​

 

2,429

​

 

3,248

​

 

1,403

​

 

3,725

​

 

296

​

 

1,150

​

 

12,570

Total allowance for credit losses

​

$

319

​

$

2,987

​

$

3,248

​

$

1,403

​

$

3,725

​

$

296

​

$

1,150

​

$

13,128

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

​

  ​ ​ ​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

Loans:

​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Individually evaluated

​

$

3,429

​

$

1,675

​

$

—

​

$

—

​

$

8,773

​

$

379

​

$

10

​

$

14,266

Collectively evaluated

​

 

83,524

​

 

145,576

​

 

181,778

​

 

132,364

​

 

225,109

​

 

176,731

​

 

108,601

​

 

1,053,683

Total loans

​

$

86,953

​

$

147,251

​

$

181,778

​

$

132,364

​

$

233,882

​

$

177,110

​

$

108,611

​

$

1,067,949

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

COMMERCIAL

​

COMMERCIAL

​

​

​

​

​

​

​

​

​

​

​

​

COMMERCIAL

​

​

​

REAL ESTATE

​

REAL ESTATE

​

OTHER COMMERCIAL

​

​

​

​

​

​

​

​

Allowance for

​

REAL ESTATE

​

COMMERCIAL

​

(NON-OWNER OCCUPIED) -

​

(NON-OWNER OCCUPIED) -

​

REAL ESTATE

​

RESIDENTIAL

​

​

​

​

​

​

credit losses:

​

(OWNER OCCUPIED)

  ​ ​ ​

AND INDUSTRIAL

  ​ ​ ​

RETAIL

  ​ ​ ​

MULTI-FAMILY

  ​ ​ ​

(NON-OWNER OCCUPIED)

  ​ ​ ​

MORTGAGES

  ​ ​ ​

CONSUMER

  ​ ​ ​

TOTAL

​

  ​ ​ ​

(IN THOUSANDS)

Specific reserve allocation

​

$

—

​

$

541

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

541

General reserve allocation

​

 

398

​

 

2,319

​

 

3,695

​

 

1,478

​

 

3,451

​

 

839

​

 

1,191

​

 

13,371

Total allowance for credit losses

​

$

398

​

$

2,860

​

$

3,695

​

$

1,478

​

$

3,451

​

$

839

​

$

1,191

​

$

13,912
Schedule of amortized cost basis of collateral-dependent non-accrual loans

The following tables present the amortized cost basis of collateral-dependent loans which were individually evaluated for a specific reserve allocation in the allowance for credit losses by class of loans (in thousands).

​

​

​

​

​

​

​

​

​

COLLATERAL TYPE

DECEMBER 31, 2025

​

REAL ESTATE

​

BUSINESS ASSETS

Commercial:

​

​

​

​

​

​

Commercial real estate (owner occupied)

​

$

2,774

​

$

101

Commercial and industrial

​

​

1,362

​

​

72

Commercial real estate (non-owner occupied):

​

​

​

 

​

​

Retail

​

​

415

​

​

—

Other

​

​

2,034

​

​

—

Residential mortgages

​

​

155

 

​

—

Total

​

$

6,740

​

$

173

​

​

​

​

​

​

​

COLLATERAL TYPE

DECEMBER 31, 2024

​

REAL ESTATE

Commercial:

​

​

​

Commercial real estate (owner occupied)

​

$

3,429

Commercial and industrial

​

​

1,000

Commercial real estate (non-owner occupied):

​

​

​

Other

​

​

8,773

Residential mortgages

​

​

378

Consumer

​

​

10

Total

​

$

13,590
Schedule of non-performing assets from the loan portfolio The following table presents non-accrual loans, loans past due 90 days or more still accruing interest, and OREO and repossessed assets by portfolio class (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

  ​ ​ ​

NON-ACCRUAL WITH NO ACL

  ​ ​ ​

NON-ACCRUAL WITH ACL

  ​ ​ ​

TOTAL NON-ACCRUAL

  ​ ​ ​

LOANS PAST DUE 90 DAYS OR MORE STILL ACCRUING

​

OREO AND REPOSSESSED ASSETS

  ​ ​ ​

TOTAL NON-PERFORMING ASSETS

Commercial real estate (owner occupied)

​

$

2,875

​

$

—

​

$

2,875

​

$

—

​

$

—

​

$

2,875

Commercial and industrial

​

​

1,437

​

​

714

​

​

2,151

​

​

—

​

​

216

​

​

2,367

Commercial real estate (non-owner occupied) - retail

​

​

415

​

​

—

​

​

415

​

​

—

​

​

—

​

​

415

Other commercial real estate (non-owner occupied)

​

​

2,034

​

​

—

​

​

2,034

​

​

—

​

​

—

​

​

2,034

Residential mortgages

​

​

155

​

​

51

​

​

206

​

​

10

​

​

—

​

​

216

Consumer

​

​

—

​

​

611

​

​

611

​

​

—

​

​

—

​

​

611

Total

​

$

6,916

​

$

1,376

​

$

8,292

​

$

10

​

$

216

​

$

8,518

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

  ​ ​ ​

NON-ACCRUAL WITH NO ACL

  ​ ​ ​

NON-ACCRUAL WITH ACL

  ​ ​ ​

TOTAL NON-ACCRUAL

  ​ ​ ​

LOANS PAST DUE 90 DAYS OR MORE STILL ACCRUING

​

OREO AND REPOSSESSED ASSETS

  ​ ​ ​

TOTAL NON-PERFORMING ASSETS

Commercial real estate (owner occupied)

​

$

152

​

$

—

​

$

152

​

$

—

​

$

—

​

$

152

Commercial and industrial

​

​

—

​

​

675

​

​

675

​

​

97

​

​

234

​

​

1,006

Other commercial real estate (non-owner occupied)

​

​

8,773

​

​

—

​

​

8,773

​

​

—

​

​

1,476

​

​

10,249

Residential mortgages

​

​

379

​

​

—

​

​

379

​

​

26

​

​

14

​

​

419

Consumer

​

​

10

​

​

821

​

​

831

​

​

—

​

​

—

​

​

831

Total

​

$

9,314

​

$

1,496

​

$

10,810

​

$

123

​

$

1,724

​

$

12,657
Schedule of commercial and commercial real estate loan portfolios

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

8,901

​

$

10,312

​

$

16,564

​

$

6,050

​

$

9,460

​

$

29,511

​

$

433

​

$

—

​

$

81,231

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

520

​

​

223

​

​

—

​

​

743

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,738

​

​

521

​

​

—

​

​

—

​

​

3,259

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

8,901

​

$

10,312

​

$

16,564

​

$

6,050

​

$

12,198

​

$

30,552

​

$

656

​

$

—

​

$

85,233

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial and industrial

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

22,994

​

$

10,640

​

$

14,643

​

$

12,800

​

$

5,307

​

$

18,626

​

$

50,490

​

$

5,010

​

$

140,510

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

1,240

​

​

—

​

​

1,240

Substandard

​

​

—

​

​

—

​

​

—

​

​

307

​

​

363

​

​

304

​

​

1,178

​

​

25

​

​

2,177

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

398

​

​

—

​

​

—

​

​

398

Total

​

$

22,994

​

$

10,640

​

$

14,643

​

$

13,107

​

$

5,670

​

$

19,328

​

$

52,908

​

$

5,035

​

$

144,325

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

200

​

$

1,396

​

$

178

​

$

—

​

$

—

​

$

1,774

Commercial real estate (non-owner occupied) - retail

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

17,984

​

$

26,374

​

$

35,435

​

$

14,284

​

$

30,707

​

$

46,305

​

$

26

​

$

—

​

$

171,115

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

415

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

415

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

17,984

​

$

26,374

​

$

35,850

​

$

14,284

​

$

30,707

​

$

46,305

​

$

26

​

$

—

​

$

171,530

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial real estate (non-owner occupied) - multi-family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

9,762

​

$

24,594

​

$

32,750

​

$

11,515

​

$

15,867

​

$

34,378

​

$

24

​

$

—

​

$

128,890

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,195

​

​

—

​

​

—

​

​

2,195

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

9,762

​

$

24,594

​

$

32,750

​

$

11,515

​

$

15,867

​

$

36,573

​

$

24

​

$

—

​

$

131,085

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Other commercial real estate (non-owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

23,090

​

$

22,060

​

$

27,401

​

$

32,037

​

$

40,743

​

$

58,392

​

$

6,973

​

$

—

​

$

210,696

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

5,205

​

​

—

​

​

—

​

​

5,205

Substandard

​

​

—

​

​

—

​

​

—

​

​

180

​

​

—

​

​

1,854

​

​

—

​

​

—

​

​

2,034

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

23,090

​

$

22,060

​

$

27,401

​

$

32,217

​

$

40,743

​

$

65,451

​

$

6,973

​

$

—

​

$

217,935

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

3,145

​

$

—

​

$

—

​

$

3,145

Total by risk rating

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

82,731

​

$

93,980

​

$

126,793

​

$

76,686

​

$

102,084

​

$

187,212

​

$

57,946

​

$

5,010

​

$

732,442

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

5,725

​

​

1,463

​

​

—

​

​

7,188

Substandard

​

​

—

​

​

—

​

​

415

​

​

487

​

​

3,101

​

​

4,874

​

​

1,178

​

​

25

​

​

10,080

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

398

​

​

—

​

​

—

​

​

398

Total

​

$

82,731

​

$

93,980

​

$

127,208

​

$

77,173

​

$

105,185

​

$

198,209

​

$

60,587

​

$

5,035

​

$

750,108

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

200

​

$

1,396

​

$

3,323

​

$

—

​

$

—

​

$

4,919

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

2020

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

10,294

​

$

17,016

​

$

6,648

​

$

10,675

​

$

10,476

​

$

26,393

​

$

324

​

$

856

​

$

82,682

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

—

​

​

3,680

​

​

—

​

​

591

​

​

—

​

​

—

​

​

4,271

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

10,294

​

$

17,016

​

$

6,648

​

$

14,355

​

$

10,476

​

$

26,984

​

$

324

​

$

856

​

$

86,953

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial and industrial

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

16,714

​

$

19,357

​

$

20,977

​

$

7,397

​

$

4,568

​

$

19,280

​

$

54,455

​

$

—

​

$

142,748

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

480

​

​

409

​

​

1,753

​

​

—

​

​

689

​

​

1,172

​

​

—

​

​

4,503

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

16,714

​

$

19,837

​

$

21,386

​

$

9,150

​

$

4,568

​

$

19,969

​

$

55,627

​

$

—

​

$

147,251

Current period gross charge-offs

​

$

—

​

$

—

​

$

427

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

427

Commercial real estate (non-owner occupied) - retail

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

29,349

​

$

38,912

​

$

20,935

​

$

31,934

​

$

21,322

​

$

38,047

​

$

32

​

$

942

​

$

181,473

Special Mention

​

​

—

​

​

—

​

​

305

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

305

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

29,349

​

$

38,912

​

$

21,240

​

$

31,934

​

$

21,322

​

$

38,047

​

$

32

​

$

942

​

$

181,778

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Commercial real estate (non-owner occupied) - multi-family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

25,984

​

$

28,807

​

$

16,423

​

$

16,816

​

$

11,513

​

$

30,066

​

$

475

​

$

—

​

$

130,084

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

915

​

​

1,365

​

​

—

​

​

—

​

​

2,280

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

25,984

​

$

28,807

​

$

16,423

​

$

16,816

​

$

12,428

​

$

31,431

​

$

475

​

$

—

​

$

132,364

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Other commercial real estate (non-owner occupied)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

27,801

​

$

32,514

​

$

35,365

​

$

40,876

​

$

16,226

​

$

61,619

​

$

4,537

​

$

194

​

$

219,132

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

3,488

​

​

—

​

​

—

​

​

3,488

Substandard

​

​

—

​

​

—

​

​

569

​

​

199

​

​

—

​

​

10,494

​

​

—

​

​

—

​

​

11,262

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

27,801

​

$

32,514

​

$

35,934

​

$

41,075

​

$

16,226

​

$

75,601

​

$

4,537

​

$

194

​

$

233,882

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

1,571

​

$

—

​

$

—

​

$

1,571

Total by risk rating

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

$

110,142

​

$

136,606

​

$

100,348

​

$

107,698

​

$

64,105

​

$

175,405

​

$

59,823

​

$

1,992

​

$

756,119

Special Mention

​

​

—

​

​

—

​

​

305

​

​

—

​

​

—

​

​

3,488

​

​

—

​

​

—

​

​

3,793

Substandard

​

​

—

​

​

480

​

​

978

​

​

5,632

​

​

915

​

​

13,139

​

​

1,172

​

​

—

​

​

22,316

Doubtful

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

$

110,142

​

$

137,086

​

$

101,631

​

$

113,330

​

$

65,020

​

$

192,032

​

$

60,995

​

$

1,992

​

$

782,228

Current period gross charge-offs

​

$

—

​

$

—

​

$

427

​

$

—

​

$

—

​

$

1,571

​

$

—

​

$

—

​

$

1,998
Schedule of residential mortgage and consumer loan portfolio

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Residential mortgages

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

4,377

​

$

13,914

​

$

15,006

​

$

10,054

​

$

53,478

​

$

72,769

​

$

—

​

$

—

​

$

169,598

Non-performing

​

​

—

​

​

—

​

​

—

​

​

—

​

​

155

​

​

61

​

​

—

​

​

—

​

​

216

Total

​

$

4,377

​

$

13,914

​

$

15,006

​

$

10,054

​

$

53,633

​

$

72,830

​

$

—

​

$

—

​

$

169,814

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

11,546

​

$

8,581

​

$

7,999

​

$

12,952

​

$

5,820

​

$

5,363

​

$

59,823

​

$

110

​

$

112,194

Non-performing

​

​

—

​

​

5

​

​

75

​

​

17

​

​

—

​

​

322

​

​

192

​

​

—

​

​

611

Total

​

$

11,546

​

$

8,586

​

$

8,074

​

$

12,969

​

$

5,820

​

$

5,685

​

$

60,015

​

$

110

​

$

112,805

Current period gross charge-offs

​

$

1

​

$

28

​

$

41

​

$

8

​

$

1

​

$

75

​

$

—

​

$

—

​

$

154

Total by payment performance

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

15,923

​

$

22,495

​

$

23,005

​

$

23,006

​

$

59,298

​

$

78,132

​

$

59,823

​

$

110

​

$

281,792

Non-performing

​

​

—

​

​

5

​

​

75

​

​

17

​

​

155

​

​

383

​

​

192

​

​

—

​

​

827

Total

​

$

15,923

​

$

22,500

​

$

23,080

​

$

23,023

​

$

59,453

​

$

78,515

​

$

60,015

​

$

110

​

$

282,619

Current period gross charge-offs

​

$

1

​

$

28

​

$

41

​

$

8

​

$

1

​

$

75

​

$

—

​

$

—

​

$

154

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

REVOLVING

​

REVOLVING

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

LOANS

​

LOANS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AMORTIZED

​

CONVERTED

​

​

​

​

​

TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR

​

COST

​

TO

​

​

​

​

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

2020

  ​ ​ ​

PRIOR

  ​ ​ ​

BASIS

  ​ ​ ​

TERM

  ​ ​ ​

TOTAL

​

​

(IN THOUSANDS)

Residential mortgages

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

12,877

​

$

15,602

​

$

10,400

​

$

57,540

​

$

41,868

​

$

38,418

​

$

—

​

$

—

​

$

176,705

Non-performing

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

405

​

​

—

​

​

—

​

​

405

Total

​

$

12,877

​

$

15,602

​

$

10,400

​

$

57,540

​

$

41,868

​

$

38,823

​

$

—

​

$

—

​

$

177,110

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

11,476

​

$

10,988

​

$

16,397

​

$

7,605

​

$

2,475

​

$

4,299

​

$

53,876

​

$

664

​

$

107,780

Non-performing

​

​

—

​

​

110

​

​

46

​

​

—

​

​

59

​

​

344

​

​

272

​

​

—

​

​

831

Total

​

$

11,476

​

$

11,098

​

$

16,443

​

$

7,605

​

$

2,534

​

$

4,643

​

$

54,148

​

$

664

​

$

108,611

Current period gross charge-offs

​

$

5

​

$

6

​

$

21

​

$

19

​

$

13

​

$

143

​

$

—

​

$

—

​

$

207

Total by payment performance

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Performing

​

$

24,353

​

$

26,590

​

$

26,797

​

$

65,145

​

$

44,343

​

$

42,717

​

$

53,876

​

$

664

​

$

284,485

Non-performing

​

​

—

​

​

110

​

​

46

​

​

—

​

​

59

​

​

749

​

​

272

​

​

—

​

​

1,236

Total

​

$

24,353

​

$

26,700

​

$

26,843

​

$

65,145

​

$

44,402

​

$

43,466

​

$

54,148

​

$

664

​

$

285,721

Current period gross charge-offs

​

$

5

​

$

6

​

$

21

​

$

19

​

$

13

​

$

143

​

$

—

​

$

—

​

$

207
Schedule of credit quality of the loan portfolio

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

30 – 59

​

60 – 89

​

90 OR MORE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DAYS

​

DAYS

​

DAYS

​

TOTAL

​

NON-

​

TOTAL

​

  ​ ​ ​

CURRENT

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

ACCRUAL

  ​ ​ ​

LOANS

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

$

82,358

​

$

—

​

$

—

​

$

—

​

$

—

​

$

2,875

​

$

85,233

Commercial and industrial

​

​

141,691

​

​

455

​

​

28

​

​

—

​

​

483

​

​

2,151

​

​

144,325

Commercial real estate (non-owner occupied) - retail

​

 

171,115

​

 

—

​

​

—

​

 

—

​

 

—

​

 

415

​

​

171,530

Commercial real estate (non-owner occupied) - multi-family

​

 

131,085

​

 

—

​

​

—

​

 

—

​

 

—

​

 

—

​

​

131,085

Other commercial real estate (non-owner occupied)

​

​

215,901

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,034

​

​

217,935

Residential mortgages

​

 

168,602

​

 

926

​

​

70

​

 

10

​

 

1,006

​

 

206

​

​

169,814

Consumer

​

 

111,354

​

 

728

​

​

112

​

 

—

​

 

840

​

 

611

​

​

112,805

Total

​

$

1,022,106

​

$

2,109

​

$

210

​

$

10

​

$

2,329

​

$

8,292

​

$

1,032,727

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

30 – 59

​

60 – 89

​

90 OR MORE

​

​

​

​

​

​

​

​

​

​

​

​

​

​

DAYS

​

DAYS

​

DAYS

​

TOTAL

​

NON-

​

TOTAL

​

  ​ ​ ​

CURRENT

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

PAST DUE

  ​ ​ ​

ACCRUAL

  ​ ​ ​

LOANS

​

​

(IN THOUSANDS)

Commercial real estate (owner occupied)

​

$

86,368

​

$

433

​

$

—

​

$

—

​

$

433

​

$

152

​

$

86,953

Commercial and industrial

​

​

144,627

​

​

1,852

​

​

—

​

​

97

​

​

1,949

​

​

675

​

​

147,251

Commercial real estate (non-owner occupied) - retail

​

 

181,778

​

 

—

​

​

—

​

 

—

​

 

—

​

 

—

​

​

181,778

Commercial real estate (non-owner occupied) - multi-family

​

 

132,364

​

 

—

​

​

—

​

 

—

​

 

—

​

 

—

​

​

132,364

Other commercial real estate (non-owner occupied)

​

​

224,914

​

​

195

​

​

—

​

​

—

​

​

195

​

​

8,773

​

​

233,882

Residential mortgages

​

 

175,817

​

 

852

​

​

36

​

 

26

​

 

914

​

 

379

​

​

177,110

Consumer

​

 

106,796

​

 

948

​

​

36

​

 

—

​

 

984

​

 

831

​

​

108,611

Total

​

$

1,052,664

​

$

4,280

​

$

72

​

$

123

​

$

4,475

​

$

10,810

​

$

1,067,949
Schedule of modifications made to borrowers experiencing financial difficulty

The following tables summarize the amortized cost basis of loans modified to borrowers experiencing financial difficulty during the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

​

​

​

TERM EXTENSION

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Other commercial real estate (non-owner occupied)

​

$

2,349

​

​

1.08

%

Residential mortgages

​

​

191

​

​

0.11

%

Total

​

$

2,540

​

​

​

​

​

As of December 31, 2025, the modified loans described in the table above were current as to payments.

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

​

​

​

PAYMENT DELAY

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Commercial real estate (owner occupied)

​

$

152

​

​

0.17

%

Total

​

$

152

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TERM EXTENSION

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Commercial and industrial

​

$

154

​

​

0.10

%

Total

​

$

154

​

​

​

​

​

​

​

​

​

​

​

​

​

​

COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION

​

​

  ​ ​ ​

AMORTIZED COST BASIS

  ​ ​ ​

% OF TOTAL CLASS OF LOANS

  ​ ​ ​

Commercial and industrial

​

$

480

​

​

0.33

%

Total

​

$

480

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

TERM EXTENSION

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Other commercial real estate (non-owner occupied)

​

Provided a maturity date extension of 15 months. In connection with the modification, the borrower pledged a $1.0 million Bank deposit as additional collateral.

Residential mortgages

​

Provided a maturity date extension of 230 months (approximately 19 years).

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

PAYMENT DELAY

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Commercial real estate (owner occupied)

​

Provided 60 months of additional amortization period to lower borrower's monthly payment.

​

​

​

TERM EXTENSION

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Commercial and industrial

​

During the first, second, and third quarters of 2024, provided a maturity date extension of 90 days and modified seasonal principal and interest payments to interest only until maturity. During the fourth quarter of 2024, provided the same borrower an additional maturity date extension of one year and required monthly principal and interest payments.

​

​

​

COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION

LOAN TYPE

  ​ ​ ​

FINANCIAL EFFECT

Commercial and industrial

​

As a result of the borrower's bankruptcy, the maturity date of the loan was extended four years and a portion of the principal balance was converted to an equity investment in the borrower.
v3.26.1
PREMISES AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2025
PREMISES AND EQUIPMENT  
Schedule of premises and equipment

​

​

​

​

​

​

​

​

​

​

AT  DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Land

​

$

1,225

​

$

1,225

Premises

​

 

28,225

​

 

29,696

Furniture and equipment

​

 

8,177

​

 

8,097

Leasehold improvements

​

 

1,236

​

 

1,229

Total at cost

​

 

38,863

​

 

40,247

Less: Accumulated depreciation and amortization

​

 

24,934

​

 

26,019

Premises and equipment, net

​

$

13,929

​

$

14,228
v3.26.1
LEASE COMMITMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
LEASE COMMITMENTS  
Schedule of lease cost associated with both operating and financing leases

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

​

2025

​

​

2024

​

​

(IN THOUSANDS)

Lease cost

​

​

​

​

​

  ​

Financing lease cost

​

​

​

​

​

  ​

Amortization of right-of-use asset

​

$

225

​

$

225

Interest expense

​

 

100

​

 

108

Operating lease cost

​

​

252

​

​

251

Total lease cost

​

$

577

​

$

584

Cash paid on leases

​

​

​

​

​

  ​

Financing leases

​

$

288

​

$

276

Operating leases

​

​

244

​

​

241

Total cash paid on leases

​

$

532

​

$

517
Schedule of weighted-average remaining lease term and discount rates

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 

​

​

2025

​

​

2024

​

​

  ​ ​ ​

OPERATING

​

  ​ ​ ​

FINANCING

​

​

OPERATING

​

  ​ ​ ​

FINANCING

​

Weighted-average remaining term (years)

 

7.5

​

 

12.3

​

​

8.5

​

 

13.1

​

Weighted-average discount rate

 

4.30

%

​

3.84

%

​

4.31

%

​

3.86

%
Schedule of reconciliation to the discounted amount recorded on the consolidated balance sheets

​

​

​

​

​

​

​

​

DECEMBER 31, 2025

​

  ​ ​ ​

OPERATING

  ​ ​ ​

FINANCING

​

​

(IN THOUSANDS)

Undiscounted cash flows due in:

​

​

​

​

​

​

2026

​

$

240

​

$

291

2027

​

 

208

​

 

278

2028

​

 

205

​

 

246

2029

​

 

207

​

 

223

2030

​

 

210

​

 

233

Thereafter

​

 

610

​

 

1,895

Total undiscounted cash flows

​

 

1,680

​

 

3,166

Discount on cash flows

​

 

(254)

​

 

(665)

Total lease liabilities

​

$

1,426

​

$

2,501

​

​

​

​

​

​

​

​

DECEMBER 31, 2024

​

  ​ ​ ​

OPERATING

  ​ ​ ​

FINANCING

​

​

(IN THOUSANDS)

Undiscounted cash flows due in:

​

​

​

​

​

​

2025

​

$

233

​

$

288

2026

​

 

223

​

 

291

2027

​

 

202

​

 

278

2028

​

 

205

​

 

246

2029

​

 

207

​

 

223

Thereafter

​

 

821

​

 

2,128

Total undiscounted cash flows

​

 

1,891

​

 

3,454

Discount on cash flows

​

 

(319)

​

 

(765)

Total lease liabilities

​

$

1,572

​

$

2,689
v3.26.1
DEPOSITS (Tables)
 12 Months Ended
Dec. 31, 2025
DEPOSITS.  
Schedule of company's deposits

​

​

​

​

​

​

​

​

​

​

AT  DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Demand:

 

​

  ​

 

​

  ​

Non-interest bearing

​

$

159,198

​

$

171,622

Interest bearing

​

 

322,155

​

 

342,158

Savings

​

 

123,075

​

 

119,479

Money market

​

 

265,953

​

 

231,424

Time deposits (1)

​

 

377,747

​

 

336,312

Total deposits

​

$

1,248,128

​

$

1,200,995

(1)Time deposits include certificates of deposit (CDs) and individual retirement accounts (IRAs).
Schedule of time deposit maturities

The following table sets forth the balance of time deposits as of December 31, 2025 maturing in the periods presented:

​

​

​

​

​

​

YEAR:

  ​ ​ ​

TIME DEPOSITS

  ​ ​ ​

​

 

(IN THOUSANDS)

​

2026

​

$

301,216

​

2027

​

 

61,461

​

2028

​

 

5,501

​

2029

​

 

4,386

​

2030

​

 

2,733

​

2031 and after

​

 

2,450

​

Total

​

$

377,747

​
v3.26.1
BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2025
BORROWINGS  
Schedule of short-term borrowings

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

 

​

  ​ ​ ​

FEDERAL

  ​ ​ ​

​

​

 

​

​

FUNDS

​

SHORT-TERM

 

​

  ​ ​ ​

PURCHASED

  ​ ​ ​

BORROWINGS

 

​

​

(IN THOUSANDS, EXCEPT RATES)

 

Balance at year-end

​

$

—

​

$

—

​

Maximum balance at any month end

​

 

—

​

 

31,551

​

Average balance during year

​

 

27

​

 

5,528

​

Average rate paid for the year

​

 

4.89

%  

 

4.78

%

Interest rate on year-end balance

​

 

—

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

 

​

  ​ ​ ​

FEDERAL

  ​ ​ ​

​

​

 

​

​

FUNDS

​

SHORT-TERM

 

​

  ​ ​ ​

PURCHASED

  ​ ​ ​

BORROWINGS

 

​

​

(IN THOUSANDS, EXCEPT RATES)

 

Balance at year-end

​

$

—

​

$

14,642

​

Maximum balance at any month end

​

 

—

​

 

36,650

​

Average balance during year

​

 

7

​

 

27,956

​

Average rate paid for the year

​

 

6.59

%  

 

5.66

%

Interest rate on year-end balance

​

 

—

​

 

4.71

​
Schedule of federal home loan bank borrowings

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 2025

​

​

WEIGHTED

​

​

​

​

  ​ ​ ​

AVERAGE YIELD

  ​ ​ ​

BALANCE

MATURING

​

(IN THOUSANDS, EXCEPT RATES)

2026

 

4.26

%

$

17,770

2027

 

4.23

​

 

15,100

2028

 

4.46

​

 

11,745

Total advances from FHLB

 

4.30

​

$

44,615

​

​

​

​

​

​

​

​

  ​ ​ ​

AT DECEMBER 31, 2024

​

​

WEIGHTED

​

​

​

​

  ​ ​ ​

AVERAGE YIELD

  ​ ​ ​

BALANCE

MATURING

​

(IN THOUSANDS, EXCEPT RATES)

2025

 

4.76

%

$

11,943

2026

​

4.27

​

 

17,270

2027

​

4.23

​

 

15,100

2028

​

4.46

​

 

11,745

Total advances from FHLB

 

4.40

​

$

56,058
v3.26.1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS  
Schedule of assets and liabilities measured and recorded at fair value on a recurring basis

The following table presents the assets and liabilities measured and reported on the Consolidated Balance Sheets on a recurring basis at their fair value as of December 31, 2025 and 2024 by level within the fair value hierarchy (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2025

​

  ​ ​ ​

TOTAL

  ​ ​ ​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Equity securities (1)

​

$

183

​

$

183

​

$

—

​

$

—

Available for sale securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Agency

​

 

4,790

​

 

—

​

 

4,790

​

 

—

U.S. Agency mortgage-backed securities

​

​

110,856

​

​

—

​

​

110,856

​

​

—

Municipal

​

 

9,934

​

 

—

​

 

9,934

​

 

—

Corporate bonds

​

 

50,648

​

 

—

​

 

50,648

​

 

—

Trading securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasury

​

​

3,401

​

​

—

​

​

3,401

​

​

—

Municipal

​

 

3,852

​

 

—

​

 

3,852

​

 

—

Interest rate swap asset (1)

​

 

2,614

​

 

—

​

 

2,614

​

 

—

Interest rate swap liability (2)

​

 

(2,639)

​

 

—

​

 

(2,639)

​

 

—

Interest rate hedge (2)

​

 

(118)

​

 

—

​

 

(118)

​

 

—

Risk participation agreement (2)

​

 

(303)

​

 

—

​

 

(303)

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2024

​

  ​ ​ ​

TOTAL

  ​ ​ ​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Equity securities (1)

​

$

350

​

$

350

​

$

—

​

$

—

Available for sale securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Agency

​

 

4,666

​

 

—

​

 

4,666

​

 

—

U.S. Agency mortgage-backed securities

​

​

91,534

​

​

—

​

​

91,534

​

​

—

Municipal

​

 

8,363

​

 

—

​

 

8,363

​

 

—

Corporate bonds

​

 

51,057

​

 

363

​

 

50,021

​

 

673

Interest rate swap asset (1)

​

 

4,657

​

 

—

​

 

4,657

​

 

—

Interest rate swap liability (2)

​

 

(4,691)

​

 

—

​

 

(4,691)

​

 

—

Interest rate hedge (2)

​

 

(169)

​

 

—

​

 

(169)

​

 

—

Risk participation agreement (2)

​

 

(207)

​

 

—

​

 

(207)

​

 

—

(1)Included within other assets on the Consolidated Balance Sheets.
(2)Included within other liabilities on the Consolidated Balance Sheets.
Schedule of assets measured and recorded at fair value on a non-recurring basis

Assets measured and recorded at fair value on a non-recurring basis are summarized below (in thousands, except range data):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2025

​

​

TOTAL

​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Other real estate owned and repossessed assets

​

$

216

​

$

—

​

$

—

​

$

216

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2024

​

  ​ ​ ​

TOTAL

  ​ ​ ​

LEVEL 1

  ​ ​ ​

LEVEL 2

  ​ ​ ​

LEVEL 3

Other real estate owned and repossessed assets

​

$

1,724

​

$

—

​

$

—

​

$

1,724

​

​

​

​

​

​

​

​

​

​

​

​

​

​

QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASUREMENTS

 

​

​

​

​

VALUATION

​

UNOBSERVABLE

​

​

​

DECEMBER 31, 2025

  ​ ​ ​

FAIR VALUE

  ​ ​ ​

TECHNIQUES

  ​ ​ ​

INPUT

  ​ ​ ​

RANGE (WGTD AVG)

 

Other real estate owned and repossessed assets

​

$

216

 

Appraisal of collateral (1)

 

Appraisal adjustments (2)

 

29% to 59% (45%)

​

​

​

​

​

​

​

​

Liquidation expenses

​

0% to 30% (11%)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASUREMENTS

 

​

​

​

​

VALUATION

​

UNOBSERVABLE

​

​

​

DECEMBER 31, 2024

  ​ ​ ​

FAIR VALUE

  ​ ​ ​

TECHNIQUES

  ​ ​ ​

INPUT

  ​ ​ ​

RANGE (WGTD AVG)

 

Other real estate owned and repossessed assets

  ​ ​ ​

$

1,724

 

Appraisal of collateral (1)

 

Appraisal adjustments (2)

 

18% to 63% (24%)

​

​

​

​

​

​

​

​

Liquidation expenses

​

0% to 33% (4%)

​

(1)Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. Also includes qualitative adjustments by management and estimated liquidation expenses.
(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions.
v3.26.1
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of estimated fair value and recorded carrying value

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

  ​ ​ ​

CARRYING 

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

VALUE

​

​

FAIR VALUE

​

​

LEVEL 1

​

​

LEVEL 2

​

​

LEVEL 3

​

​

​

(IN THOUSANDS)

FINANCIAL ASSETS:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Investment securities – HTM

​

$

72,256

​

$

68,916

​

$

—

​

$

67,936

​

$

980

Loans held for sale

​

 

241

​

​

244

​

​

244

​

 

—

​

 

—

Loans, net of allowance for credit losses and unearned income

​

 

1,019,599

​

​

1,010,336

​

​

—

​

 

—

​

 

1,010,336

FINANCIAL LIABILITIES:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Deposits with stated maturities

​

​

377,747

​

​

377,938

​

​

—

​

​

—

​

​

377,938

All other borrowings (1)

​

 

71,382

​

 

71,382

​

 

—

​

 

—

​

 

71,382

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

  ​ ​ ​

CARRYING 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

VALUE

​

  ​ ​ ​

FAIR VALUE

​

  ​ ​ ​

LEVEL 1

​

  ​ ​ ​

LEVEL 2

​

  ​ ​ ​

LEVEL 3

​

​

​

(IN THOUSANDS)

FINANCIAL ASSETS:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment securities – HTM

​

$

63,837

​

$

58,471

​

$

—

​

$

57,535

​

$

936

Loans held for sale

​

 

460

​

​

470

​

​

470

​

 

—

​

 

—

Loans, net of allowance for credit losses and unearned income

​

 

1,054,037

​

​

990,745

​

​

—

​

 

—

​

 

990,745

FINANCIAL LIABILITIES:

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

​

 

  ​

Deposits with stated maturities

​

​

336,312

​

​

336,167

​

​

—

​

​

—

​

​

336,167

All other borrowings (1)

​

 

82,784

​

 

81,476

​

 

—

​

 

—

​

 

81,476

(1)All other borrowings include advances from Federal Home Loan Bank and subordinated debt.
v3.26.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
INCOME TAXES  
Schedule of expense for income taxes, includes both federal and applicable state corporate income taxes

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Current

​

$

192

​

$

832

Deferred

​

 

992

​

 

(34)

Income tax expense

​

$

1,184

​

$

798
Schedule of reconciliation between the federal statutory tax rate and the Company's effective consolidated income tax rate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

2025

​

2024

​

​

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATE

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATE

  ​ ​ ​

​

​

(IN THOUSANDS, EXCEPT PERCENTAGES)

Income tax expense based on federal statutory rate

​

$

1,427

 

21.0

%  

$

924

 

21.0

%  

Tax exempt income

​

 

(310)

 

(4.6)

​

 

(247)

 

(5.6)

​

Other

​

 

67

 

1.0

​

 

121

 

2.7

​

Total expense for income taxes

​

$

1,184

 

17.4

%  

$

798

 

18.1

%  
Schedule of deferred tax assets and liabilities

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

DEFERRED TAX ASSETS:

​

  ​

​

​

  ​

​

Allowance for credit losses - loans

​

$

2,757

​

$

2,922

Allowance for credit losses - securities

​

 

19

​

 

94

Allowance for credit losses - unfunded commitments

​

 

71

​

 

203

Unrealized investment security losses

​

 

2,088

​

 

3,544

Premises and equipment

​

 

765

​

 

912

Lease liabilities

​

​

825

​

​

895

Net operating loss

​

 

448

​

 

469

Interest rate hedges

​

 

25

​

 

36

Other

​

 

157

​

 

173

Total tax assets

​

 

7,155

​

 

9,248

DEFERRED TAX LIABILITIES:

​

 

​

​

 

​

Investment accretion

​

 

(161)

​

 

(129)

Lease right-of-use assets

​

​

(735)

​

​

(815)

Accrued pension obligation

​

​

(7,591)

​

​

(6,602)

Other

​

 

(304)

​

 

(290)

Total tax liabilities

​

 

(8,791)

​

 

(7,836)

Net deferred tax (liability) asset

​

$

(1,636)

​

$

1,412
v3.26.1
EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
EMPLOYEE BENEFIT PLANS  
Schedule of pension benefits

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

CHANGE IN BENEFIT OBLIGATION:

 

​

  ​

 

​

  ​

Benefit obligation at beginning of year

​

$

31,228

​

$

34,819

Service cost

​

 

715

​

​

832

Interest cost

​

 

1,527

​

​

1,562

Actuarial loss (gain)

​

 

307

​

​

(532)

Settlements

​

 

—

​

​

(4,521)

Benefits paid

​

 

(2,758)

​

​

(932)

Benefit obligation at end of year

​

 

31,019

​

​

31,228

CHANGE IN PLAN ASSETS:

​

 

  ​

​

 

  ​

Fair value of plan assets at beginning of year

​

 

62,617

​

​

59,335

Actual return on plan assets

​

 

7,699

​

​

8,735

Employer contributions

​

 

—

​

​

—

Settlements

​

 

—

​

​

(4,521)

Benefits paid

​

 

(2,758)

​

​

(932)

Fair value of plan assets at end of year

​

 

67,558

​

​

62,617

Funded status of the plan

​

$

36,539

​

$

31,389
Schedule of amounts not yet recognized as a component of periodic pension cost

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

AMOUNTS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST:

 

​

  ​

 

​

​

Amounts recognized in accumulated other comprehensive loss consists of:

 

​

  ​

 

​

​

Net actuarial (gain) loss

​

$

(1,197)

​

$

2,045

Total

​

$

(1,197)

​

$

2,045
Schedule of accumulated benefit obligation

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

ACCUMULATED BENEFIT OBLIGATION:

 

​

  ​

 

​

  ​

Accumulated benefit obligation

​

$

29,194

​

$

29,215
Schedule of weighted-average assumptions used to determine benefit obligations

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

 

WEIGHTED AVERAGE ASSUMPTIONS:

 

  ​

 

  ​

​

Discount rate

 

5.30

%  

5.58

%

Salary scale

​

​

​

​

​

Ages 25-34

​

5.00

​

5.00

​

Ages 35-44

​

4.00

​

4.00

​

Ages 45-54

​

3.00

​

3.00

​

Ages 55+

 

2.50

 

2.50

​
Schedule of net periodic pension cost

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

COMPONENTS OF NET PERIODIC PENSION BENEFIT:

​

​

  ​

 

​

  ​

Service cost

​

$

715

​

$

832

Interest cost

​

 

1,527

​

 

1,562

Expected return on plan assets

​

 

(4,150)

​

 

(4,157)

Settlement charge

​

 

—

​

 

471

Net periodic pension benefit

​

$

(1,908)

​

$

(1,292)
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive loss

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME

 

​

​

 

​

  ​

Net gain

​

$

(3,242)

​

$

(5,110)

Recognized loss

​

 

—

​

 

(471)

Total recognized in other comprehensive income before tax effect

​

$

(3,242)

​

$

(5,581)

Total recognized in net periodic pension benefit and other comprehensive income before tax effect

​

$

(5,150)

​

$

(6,873)
Schedule of weighted-average assumptions used to determine net periodic benefit cost

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

WEIGHTED AVERAGE ASSUMPTIONS:

 

  ​

 

  ​

 

Discount rate

 

5.59

%  

5.12

%  

Expected return on plan assets

 

7.00

 

7.00

 

Rate of compensation increase

​

​

​

​

​

Ages 25-34

​

5.00

​

5.00

​

Ages 35-44

​

4.00

​

4.00

​

Ages 45-54

​

3.00

​

3.00

​

Ages 55+

 

2.50

 

2.50

 
Schedule of plan's asset allocations

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

 

ASSET CATEGORY:

 

  ​

 

  ​

​

Cash and cash equivalents

 

3.5

%  

1.4

%

Fixed income

 

43.9

 

35.1

​

Equity

 

52.6

 

63.5

​

Total

 

100.0

%  

100.0

%
Schedule of fair value of plan assets

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

Level 1:

 

​

  ​

 

​

  ​

Cash and cash equivalents

​

$

2,384

​

$

878

Fixed income

​

 

29,627

​

​

22,003

Equity

​

 

35,547

​

​

39,736

Total fair value of plan assets

​

$

67,558

​

$

62,617
Schedule of benefit payments

​

​

​

​

​

​

  ​ ​ ​

ESTIMATED FUTURE

YEAR:

​

BENEFIT PAYMENTS

​

​

(IN THOUSANDS)

2026

​

$

4,663

2027

​

 

4,022

2028

​

 

3,356

2029

​

 

2,943

2030

​

 

2,693

Years 2031-2035

​

 

12,178
v3.26.1
STOCK COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
STOCK COMPENSATION PLANS  
Schedule of company's stock incentive plan

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

2025

​

2024

​

  ​ ​ ​

​

  ​ ​ ​

WEIGHTED

  ​ ​ ​

​

  ​ ​ ​

WEIGHTED

​

​

​

​

AVERAGE

​

​

​

AVERAGE

​

​

SHARES

​

EXERCISE PRICE

​

SHARES

​

EXERCISE PRICE

Outstanding at beginning of year

​

194,000

​

$

3.72

​

245,000

​

$

3.64

Granted

 

—

​

​

—

​

—

​

​

—

Exercised

 

(3,000)

​

​

2.96

​

—

​

​

—

Forfeited

 

(25,000)

​

​

3.38

​

(51,000)

​

​

3.31

Outstanding at end of year

 

166,000

​

​

3.79

​

194,000

​

​

3.72

Exercisable at end of year

 

166,000

​

​

3.79

​

194,000

​

​

3.72

Weighted average fair value of options granted in current year

 

  ​

​

$

—

​

  ​

​

$

—
v3.26.1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2025
ACCUMULATED OTHER COMPREHENSIVE LOSS  
Schedule of accumulated other comprehensive loss, net of tax

The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the periods ended December 31, 2025 and 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

​

YEAR ENDED DECEMBER 31, 2024

​

  ​ ​ ​

NET

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

NET

  ​ ​ ​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

UNREALIZED

​

​

​

​

​

​

​

​

​

​

UNREALIZED

​

​

​

​

​

​

​

​

​

​

​

GAINS AND

​

​

​

​

​

​

​

​

​

​

GAINS AND

​

​

​

​

​

​

​

​

​

​

​

LOSSES ON

​

​

​

DEFINED

​

​

​

​

LOSSES ON

​

​

​

DEFINED

​

​

​

​

​

INVESTMENT

​

INTEREST

​

BENEFIT

​

​

​

​

INVESTMENT

​

INTEREST

​

BENEFIT

​

​

​

​

​

SECURITIES 

​

RATE

​

PENSION

​

​

​

​

SECURITIES 

​

RATE

​

PENSION

​

​

​

​

​

AFS(1)

​

HEDGE(1)

​

ITEMS(1)

​

TOTAL(1)

​

AFS(1)

​

HEDGE(1)

​

ITEMS(1)

​

TOTAL(1)

Beginning balance

​

$

(13,332)

​

$

(135)

​

$

(1,616)

​

$

(15,083)

​

$

(13,730)

​

$

(352)

​

$

(5,894)

​

$

(19,976)

Other comprehensive income before reclassifications

​

 

5,478

​

 

63

​

 

2,215

​

 

7,756

​

 

398

​

 

760

​

 

3,906

​

 

5,064

Amounts reclassified from accumulated other comprehensive loss

​

 

—

​

 

(22)

​

 

—

​

 

(22)

​

 

—

​

 

(543)

​

 

372

​

 

(171)

Net current period other comprehensive income

​

 

5,478

​

 

41

​

 

2,215

​

 

7,734

​

 

398

​

 

217

​

 

4,278

​

 

4,893

Ending balance

​

$

(7,854)

​

$

(94)

​

$

599

​

$

(7,349)

​

$

(13,332)

​

$

(135)

​

$

(1,616)

​

$

(15,083)

(1)Amounts in parentheses indicate debits on the Consolidated Balance Sheets.
Schedule of reclassification out of accumulated other comprehensive loss

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the periods ended December 31, 2025 and 2024 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

AMOUNT RECLASSIFIED FROM ACCUMULATED

​

​

​

​

OTHER COMPREHENSIVE LOSS(1)

​

​

​

​

​

​

​

​

​

​

​

DETAILS ABOUT ACCUMULATED OTHER

​

YEAR ENDED

​

YEAR ENDED

​

AFFECTED LINE ITEM IN THE

COMPREHENSIVE LOSS COMPONENTS

  ​ ​ ​

DECEMBER 31, 2025

  ​ ​ ​

DECEMBER 31, 2024

  ​ ​ ​

STATEMENT OF OPERATIONS

Interest rate hedge

​

​

​

​

​

​

​

​

​

​

$

(28)

​

$

(687)

​

Interest expense - Deposits

​

​

​

6

​

​

144

​

Provision for income taxes

​

​

$

(22)

​

$

(543)

 

​

Amortization of estimated defined benefit pension plan loss(2)

​

​

​

​

​

​

​

​

​

​

$

—

​

$

471

 

Other expense

​

​

 

—

​

 

(99)

 

Provision for income taxes

​

​

$

—

​

$

372

 

​

Total reclassifications for the period

​

$

(22)

​

$

(171)

 

​

(1)Amounts in parentheses indicate credits.
(2)These accumulated other comprehensive loss components are included in the computation of net periodic pension benefit (see Note 15 for additional details).
v3.26.1
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
INTANGIBLE ASSETS  
Schedule of finite-lived Intangible assets

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

​

2025

​

2024

  ​ ​ ​

​

(IN THOUSANDS)

​

CORE DEPOSIT INTANGIBLE

​

​

​

​

​

​

Balance at beginning of year

$

77

​

$

101

​

Amortization

 

(21)

​

​

(24)

​

Balance at end of year

$

56

​

$

77

​
Schedule of future amortization expense

As of December 31, 2025, the estimated future amortization expense for the core deposit intangible associated with the Riverview branch acquisition was as follows (in thousands):

​

​

​

2026

$

17

2027

​

14

2028

 

11

2029

 

8

2030

 

5

After five years

​

1

​

$

56

​
v3.26.1
DERIVATIVE HEDGING INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
DERIVATIVE HEDGING INSTRUMENTS  
Schedule of interest rate swap transactions

The following tables summarize the interest rate swap transactions that impacted the Company’s 2025 and 2024 performance (in thousands, except percentages).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

​

​

​

​

​

​

​

​

​

​

​

INCREASE

​

​

​

​

AGGREGATE

​

WEIGHTED

​

​

​

(DECREASE)

​

​

​

​

NOTIONAL

​

AVERAGE RATE

​

REPRICING

​

IN INTEREST

​

​

HEDGE TYPE

​

AMOUNT

​

RECEIVED/(PAID)

​

FREQUENCY

​

INCOME

Swap assets

  ​ ​ ​

N/A

  ​ ​ ​

$

60,778

  ​ ​ ​

6.57

%  

Monthly

  ​ ​ ​

$

1,180

Swap liabilities

 

N/A

​

 

(60,778)

 

(6.57)

 

Monthly

​

 

(1,180)

Net exposure

 

​

​

$

—

 

—

%

  ​

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

​

​

​

​

​

​

​

​

​

​

​

INCREASE

​

​

​

​

AGGREGATE

​

WEIGHTED

​

​

​

(DECREASE)

​

​

​

​

NOTIONAL

​

AVERAGE RATE

​

REPRICING

​

IN INTEREST

​

​

HEDGE TYPE

​

AMOUNT

​

RECEIVED/(PAID)

​

FREQUENCY

​

INCOME

Swap assets

  ​ ​ ​

N/A

  ​ ​ ​

$

66,476

  ​ ​ ​

7.52

%  

Monthly

  ​ ​ ​

$

1,968

Swap liabilities

 

N/A

​

 

(66,476)

 

(7.52)

 

Monthly

​

 

(1,968)

Net exposure

 

​

​

$

—

 

—

%

  ​

​

$

—
Schedule of cash flow hedges accumulated other comprehensive loss

The following table summarizes the effect of the effective portion of the Company’s cash flow hedge accounting on accumulated other comprehensive loss for the years ended December 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2025

DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS

​

AMOUNT RECOGNIZED IN OTHER COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES

​

LOCATION ON CONSOLIDATED STATEMENTS OF OPERATIONS OF RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

​

AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

Interest rate hedge

​

$

52

  ​ ​ ​

Interest expense - Deposits

  ​ ​ ​

$

(28)

Total

​

$

52

​

​

 

$

(28)

​

​

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 2024

DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS

​

AMOUNT RECOGNIZED IN OTHER COMPREHENSIVE INCOME (LOSS) ON DERIVATIVES

​

LOCATION ON CONSOLIDATED STATEMENTS OF OPERATIONS OF RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

​

AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS

Interest rate hedge

​

$

275

  ​ ​ ​

Interest expense - Deposits

  ​ ​ ​

$

(687)

Total

​

$

275

​

​

 

$

(687)
v3.26.1
REGULATORY CAPITAL (Tables)
 12 Months Ended
Dec. 31, 2025
REGULATORY CAPITAL  
Schedule of compliance with regulatory capital requirements under banking regulations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2025

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TO BE WELL

 

​

​

​

​

​

​

​

​

​

​

​

​

MINIMUM

​

CAPITALIZED

 

​

​

​

​

​

​

​

​

​

​

​

​

REQUIRED

​

UNDER

 

​

​

​

​

​

​

​

​

​

​

​

​

FOR

​

PROMPT

 

​

​

​

​

​

​

​

​

​

​

​

​

CAPITAL

​

CORRECTIVE

 

​

​

​

​

​

​

​

​

​

​

​

​

ADEQUACY

​

ACTION

 

​

​

COMPANY

​

BANK

​

PURPOSES

​

REGULATIONS*

 

​

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

​

​

 

(IN THOUSANDS, EXCEPT RATIOS)

​

Total Capital (To Risk Weighted Assets)

​

$

153,316

 

13.30

%  

$

148,370

 

12.88

%  

8.00

%  

10.00

%

Common Equity Tier 1 Capital (To Risk Weighted Assets)

​

 

112,994

 

9.80

​

 

134,815

 

11.70

 

4.50

 

6.50

​

Tier 1 Capital (To Risk Weighted Assets)

​

 

112,994

 

9.80

​

 

134,815

 

11.70

 

6.00

 

8.00

​

Tier 1 Capital (To Average Assets)

​

 

112,994

 

7.79

​

 

134,815

 

9.32

 

4.00

 

5.00

​

* Applies to the Bank only.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 2024

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

TO BE WELL

 

​

​

​

​

​

​

​

​

​

​

​

​

MINIMUM

​

CAPITALIZED

 

​

​

​

​

​

​

​

​

​

​

​

​

REQUIRED

​

UNDER

 

​

​

​

​

​

​

​

​

​

​

​

​

FOR

​

PROMPT

 

​

​

​

​

​

​

​

​

​

​

​

​

CAPITAL

​

CORRECTIVE

 

​

​

​

​

​

​

​

​

​

​

​

​

ADEQUACY

​

ACTION

 

​

​

COMPANY

​

BANK

​

PURPOSES

​

REGULATIONS*

 

​

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

AMOUNT

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

  ​ ​ ​

RATIO

​

​

 

(IN THOUSANDS, EXCEPT RATIOS)

​

Total Capital (To Risk Weighted Assets)

​

$

150,147

 

12.70

%  

$

143,619

 

12.16

%  

8.00

%  

10.00

%

Common Equity Tier 1 Capital (To Risk Weighted Assets)

​

 

108,643

 

9.19

​

 

128,854

 

10.91

 

4.50

 

6.50

​

Tier 1 Capital (To Risk Weighted Assets)

​

 

108,643

 

9.19

​

 

128,854

 

10.91

 

6.00

 

8.00

​

Tier 1 Capital (To Average Assets)

​

 

108,643

 

7.68

​

 

128,854

 

9.15

 

4.00

 

5.00

​

* Applies to the Bank only.
v3.26.1
PARENT COMPANY FINANCIAL INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
PARENT COMPANY FINANCIAL INFORMATION  
Schedule of parent company information of balance sheets

BALANCE SHEETS

​

​

​

​

​

​

​

​

​

​

AT DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

ASSETS

 

​

  ​

 

​

  ​

Cash

​

$

113

​

$

10

Short-term investments

​

 

1,521

​

 

2,673

Cash and cash equivalents

​

​

1,634

​

​

2,683

Investment securities available for sale

​

 

3,787

​

 

4,153

Equity investment in banking subsidiary

​

 

141,452

​

 

127,905

Other assets

​

 

470

​

 

745

TOTAL ASSETS

​

$

147,343

​

$

135,486

LIABILITIES

​

 

  ​

​

 

  ​

Subordinated debt

​

$

26,767

​

$

26,726

Other liabilities

​

 

1,264

​

 

1,512

TOTAL LIABILITIES

​

 

28,031

​

 

28,238

SHAREHOLDERS’ EQUITY

​

 

  ​

​

 

  ​

Total shareholders’ equity

​

 

119,312

​

 

107,248

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

​

$

147,343

​

$

135,486
Schedule of parent company information of statements of operations

STATEMENTS OF OPERATIONS

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

INCOME

 

​

  ​

 

​

  ​

Inter-entity management and other fees

​

$

2,747

​

$

2,745

Dividends from banking subsidiary

​

 

2,700

​

 

5,500

Interest, dividend and other income

​

 

175

​

 

227

TOTAL INCOME

​

 

5,622

​

 

8,472

EXPENSE

​

 

​

​

 

​

Interest expense

​

 

1,065

​

 

1,054

Salaries and employee benefits

​

 

2,893

​

 

2,831

Other expense

​

 

2,777

​

 

3,492

TOTAL EXPENSE

​

 

6,735

​

 

7,377

(LOSS) INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARY

​

 

(1,113)

​

 

1,095

Benefit for income taxes

​

 

(785)

​

 

(925)

Equity in undistributed earnings of subsidiary

​

 

5,940

​

 

1,581

NET INCOME

​

$

5,612

​

$

3,601

COMPREHENSIVE INCOME

​

$

13,346

​

$

8,494
Schedule of parent company information of statements of cash flows

STATEMENTS OF CASH FLOWS

​

​

​

​

​

​

​

​

​

​

YEAR ENDED DECEMBER 31,

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(IN THOUSANDS)

OPERATING ACTIVITIES

 

​

  ​

 

​

  ​

Net income

​

$

5,612

​

$

3,601

Adjustments to reconcile net income to net cash provided by operating activities:

​

 

​

​

 

​

Common stock issuable

​

 

691

​

 

—

Equity in undistributed earnings of subsidiary

​

 

(5,940)

​

 

(1,581)

Stock compensation expense

​

 

—

​

 

8

Other – net

​

 

36

​

 

196

NET CASH PROVIDED BY OPERATING ACTIVITIES

​

 

399

​

 

2,224

INVESTING ACTIVITIES

​

 

  ​

​

 

  ​

Purchase of investment securities – available for sale

​

 

(296)

​

 

(968)

Proceeds from maturity and sales of investment securities – available for sale

​

 

821

​

 

1,305

NET CASH PROVIDED BY INVESTING ACTIVITIES

​

 

525

​

 

337

FINANCING ACTIVITIES

​

 

  ​

​

 

  ​

Stock options exercised

​

 

9

​

 

—

Purchases of treasury stock

​

 

—

​

 

(1,511)

Common stock dividends paid

​

 

(1,982)

​

 

(2,020)

NET CASH USED IN FINANCING ACTIVITIES

​

 

(1,973)

​

 

(3,531)

NET DECREASE IN CASH AND CASH EQUIVALENTS

​

 

(1,049)

​

 

(970)

CASH AND CASH EQUIVALENTS AT JANUARY 1

​

 

2,683

​

 

3,653

CASH AND CASH EQUIVALENTS AT DECEMBER 31

​

$

1,634

​

$

2,683
v3.26.1
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2025
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited)  
Schedule of quarterly consolidated financial data

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025 QUARTER ENDED

​

  ​ ​ ​

DEC. 31

  ​ ​ ​

SEPT. 30

  ​ ​ ​

JUNE 30

  ​ ​ ​

MARCH 31

​

​

(IN THOUSANDS, EXCEPT PER SHARE DATA)

Interest income

​

$

18,160

​

$

18,483

​

$

17,689

​

$

17,022

Interest expense

​

 

7,229

​

 

7,476

​

 

7,295

​

 

7,091

Net interest income

​

 

10,931

​

 

11,007

​

 

10,394

​

 

9,931

Provision (recovery) for credit losses

​

 

724

​

 

360

​

 

3,133

​

 

(97)

Net interest income after provision (recovery) for credit losses

​

 

10,207

​

 

10,647

​

 

7,261

​

 

10,028

Non-interest income

​

 

4,371

​

 

4,401

​

 

4,096

​

 

4,121

Non-interest expense

​

 

12,900

​

 

11,964

​

 

11,709

​

 

11,763

Income (loss) before income taxes

​

 

1,678

​

 

3,084

​

 

(352)

​

 

2,386

Provision (benefit) for income taxes

​

 

236

​

 

540

​

 

(70)

​

 

478

Net income (loss)

​

$

1,442

​

$

2,544

​

$

(282)

​

$

1,908

Basic earnings per common share

​

$

0.09

​

$

0.15

​

$

(0.02)

​

$

0.12

Diluted earnings per common share

​

 

0.09

​

 

0.15

​

 

(0.02)

​

 

0.12

Cash dividends declared per common share

​

 

0.03

​

 

0.03

​

 

0.03

​

 

0.03

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2024 QUARTER ENDED

​

  ​ ​ ​

DEC. 31

  ​ ​ ​

SEPT. 30

  ​ ​ ​

JUNE 30

  ​ ​ ​

MARCH 31

​

​

(IN THOUSANDS, EXCEPT PER SHARE DATA)

Interest income

​

$

17,063

​

$

16,708

​

$

16,510

​

$

16,224

Interest expense

​

 

7,524

​

 

7,821

​

 

7,635

​

 

7,477

Net interest income

​

 

9,539

​

 

8,887

​

 

8,875

​

 

8,747

Provision (recovery) for credit losses

​

 

1,058

​

 

(51)

​

 

434

​

 

(557)

Net interest income after provision (recovery) for credit losses

​

 

8,481

​

 

8,938

​

 

8,441

​

 

9,304

Non-interest income

​

 

4,453

​

 

4,203

​

 

4,372

​

 

4,947

Non-interest expense

​

 

11,858

​

 

11,721

​

 

13,297

​

 

11,864

Income (loss) before income taxes

​

 

1,076

​

 

1,420

​

 

(484)

​

 

2,387

Provision (benefit) for income taxes

​

 

187

​

 

237

​

 

(109)

​

 

483

Net income (loss)

​

$

889

​

$

1,183

​

$

(375)

​

$

1,904

Basic earnings per common share

​

$

0.05

​

$

0.07

​

$

(0.02)

​

$

0.11

Diluted earnings per common share

​

 

0.05

​

 

0.07

​

 

(0.02)

​

 

0.11

Cash dividends declared per common share

​

 

0.03

​

 

0.03

​

 

0.03

​

 

0.03

​
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details)
 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
security
location
$ / shares
Dec. 31, 2025
USD ($)
item
security
location
segment
$ / shares
shares
Dec. 31, 2024
USD ($)
lease
security
$ / shares
shares
Dec. 31, 2023
USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Number of locations | location 16 16    
Number of locations in southwestern Pennsylvania counties | item   5    
Number of locations in Pennsylvania | location   15    
Number of locations in state Maryland | location   1    
Financial services and administers assets $ 2,700,000,000 $ 2,700,000,000 $ 2,600,000,000  
Number of reportable segments | segment   1    
Investment trading account 7,000,000 $ 7,000,000    
Cash held in the account available for future security purchases 99,000 99,000    
Held to maturity, allowance for credit losses 90,000 90,000 89,000 $ 37,000
Accrued interest receivable on held to maturity debt securities 384,000 384,000 403,000  
Held to maturity debt securities in non-accrual 0 0 0  
Allowance for credit losses 0 0 360,000 $ 926,000
Accrued interest receivable on available for sale debt securities $ 977,000 $ 977,000 $ 833,000  
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Interest Receivable Interest Receivable Interest Receivable  
Number of available for sale debt securities in non accrual status | security 0 0 1  
Available-for-Sale debt securities in non-accrual $ 1,000,000 $ 1,000,000 $ 1  
Unpaid interest     84,000  
Federal home loan bank stock par value | $ / shares $ 100 $ 100    
Accrued interest receivable $ 4,200,000 $ 4,200,000 $ 4,200,000  
Financing receivable, threshold period past due, writeoff 90 days 90 days    
Description of accounting treatment for short term operating lease   As of December 31, 2025 and 2024, the Company had no short-term leases. As of December 31, 2025 and 2024, the Company had no short-term leases.  
Percentage of general reserve 41.00%      
Percentage of quantitative reserve 59.00%      
Evaluated for impairment $ 150,000 $ 150,000    
Antidilutive securities excluded from computation of earnings per share, amount | shares   166,000 194,000  
Income tax payments   $ 325,000    
Income tax refund     $ 1,100,000  
Total interest payments   28,500,000 30,800,000  
Real estate owned, transfer from real estate owned   49,000 1,900,000  
Operating lease right-of-use asset 1,395,000 1,395,000 1,550,000  
Operating lease liabilities 1,426,000 1,426,000 1,572,000  
Financing lease right-of-use asset 2,106,000 2,106,000 2,331,000  
Financing lease liabilities $ 2,501,000 $ 2,501,000 $ 2,689,000  
Number of financing leases terminated | lease     2  
Finance lease right of use asset, write off     $ 141,000  
Finance lease liability, write off     $ 141,000  
Core Deposits        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Finite-lived intangible asset useful life 10 years 10 years    
Minimum        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Share based compensation arrangement by share based payment award options exercisable price of anti dilutive option amount | $ / shares $ 2.96 $ 2.96 $ 2.96  
Maximum        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Share based compensation arrangement by share based payment award options exercisable price of anti dilutive option amount | $ / shares $ 4.22 $ 4.22 $ 4.22  
U.S. Agency        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Held to maturity, allowance for credit losses $ 0 $ 0    
U.S. Agency mortgage-backed securities        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Held to maturity, allowance for credit losses $ 0 $ 0    
Building | Maximum        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Property, plant and equipment, useful life 30 years 30 years    
Equipment | Maximum        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Property, plant and equipment, useful life 10 years 10 years    
New finance leased assets        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Number of financing leases | lease     2  
Financing lease right-of-use asset     $ 298,000  
Financing lease liabilities     298,000  
Operating lease relating to office location        
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES        
Operating lease right-of-use asset $ 32,000 $ 32,000 1,100,000  
Operating lease liabilities $ 32,000 $ 32,000 $ 1,100,000  
v3.26.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Computation of diluted earnings per common share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:                      
Net income $ 1,442 $ 2,544 $ (282) $ 1,908 $ 889 $ 1,183 $ (375) $ 1,904 $ 5,612 $ 3,601 $ (3,346)
Denominator:                      
Weighted average common shares outstanding (basic) (in shares)                 16,519,809 16,802,383  
Effect of stock options (in shares)                 0 0  
Effect of common stock issuable (in shares)                 10,084 0  
Weighted average common shares outstanding (diluted) (in shares)                 16,529,893 16,802,383  
Earnings per common share:                      
Basic (in dollars per share) $ 0.09 $ 0.15 $ (0.02) $ 0.12 $ 0.05 $ 0.07 $ (0.02) $ 0.11 $ 0.34 $ 0.21  
Diluted (in dollars per share) $ 0.09 $ 0.15 $ (0.02) $ 0.12 $ 0.05 $ 0.07 $ (0.02) $ 0.11 $ 0.34 $ 0.21  
v3.26.1
REVENUE RECOGNITION (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Revenue Recognition                    
Non-interest income (in-scope of Topic 606)                 $ 14,634 $ 15,621
Non-interest income (out-of-scope of Topic 606)                 2,355 2,354
Total Non-Interest Income $ 4,371 $ 4,401 $ 4,096 $ 4,121 $ 4,453 $ 4,203 $ 4,372 $ 4,947 16,989 17,975
Wealth management fees                    
Revenue Recognition                    
Non-interest income (in-scope of Topic 606)                 11,560 12,318
Service charges on deposit accounts                    
Revenue Recognition                    
Non-interest income (in-scope of Topic 606)                 1,145 1,188
Other                    
Revenue Recognition                    
Non-interest income (in-scope of Topic 606)                 $ 1,929 $ 2,115
v3.26.1
REVENUE RECOGNITION - Additional information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenue Recognition    
Percentage of entity revenue 83.40%  
Other assets    
Revenue Recognition    
Wealth management fees receivable $ 850,000 $ 850,000
v3.26.1
CASH AND DUE FROM DEPOSITORY INSTITUTIONS (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Mar. 26, 2020
CASH AND DUE FROM DEPOSITORY INSTITUTIONS      
Cash and due from depository institutions $ 11,473 $ 13,891  
Restricted cash and cash equivalents     $ 0
v3.26.1
INVESTMENT SECURITIES - Cost basis and fair values of investment securities (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Information concerning investments with unrealized gains and losses      
Investment securities available for sale, Cost Basis $ 186,171,000 $ 172,857,000  
Investment securities available for sale, Gross Unrealized Gains 1,166,000 186,000  
Investment securities available for sale, Gross Unrealized Losses (11,109,000) (17,063,000)  
Investment securities available for sale, Allowance for credit losses 0 (360,000) $ (926,000)
Available for sale, Fair Value 176,228,000 155,620,000  
Investment securities - HTM, Cost Basis 72,346,000 63,926,000  
Investment securities held to maturity, Allowance for credit losses (90,000) (89,000) (37,000)
Investment securities - HTM, Carrying Value 72,256,000 63,837,000  
Investment securities held to maturity, Gross Unrealized Gains 216,000 28,000  
Investment securities held to maturity, Gross Unrealized Losses (3,556,000) (5,394,000)  
Investment securities - HTM, Fair Value 68,916,000 58,471,000  
U.S. Agency      
Information concerning investments with unrealized gains and losses      
Investment securities available for sale, Cost Basis 5,162,000 5,345,000  
Investment securities available for sale, Gross Unrealized Losses (372,000) (679,000)  
Available for sale, Fair Value 4,790,000 4,666,000  
Investment securities - HTM, Cost Basis 2,500,000 2,500,000  
Investment securities held to maturity, Allowance for credit losses 0    
Investment securities - HTM, Carrying Value 2,500,000 2,500,000  
Investment securities held to maturity, Gross Unrealized Losses (216,000) (365,000)  
Investment securities - HTM, Fair Value 2,284,000 2,135,000  
U.S. Agency mortgage-backed securities      
Information concerning investments with unrealized gains and losses      
Investment securities available for sale, Cost Basis 119,381,000 104,227,000  
Investment securities available for sale, Gross Unrealized Gains 639,000 90,000  
Investment securities available for sale, Gross Unrealized Losses (9,164,000) (12,783,000)  
Available for sale, Fair Value 110,856,000 91,534,000  
Investment securities - HTM, Cost Basis 36,592,000 26,966,000  
Investment securities held to maturity, Allowance for credit losses 0    
Investment securities - HTM, Carrying Value 36,592,000 26,966,000  
Investment securities held to maturity, Gross Unrealized Gains 210,000 28,000  
Investment securities held to maturity, Gross Unrealized Losses (1,820,000) (2,403,000)  
Investment securities - HTM, Fair Value 34,982,000 24,591,000  
Municipal      
Information concerning investments with unrealized gains and losses      
Investment securities available for sale, Cost Basis 10,155,000 9,031,000  
Investment securities available for sale, Gross Unrealized Gains 140,000 2,000  
Investment securities available for sale, Gross Unrealized Losses (361,000) (670,000)  
Available for sale, Fair Value 9,934,000 8,363,000  
Investment securities - HTM, Cost Basis 30,754,000 30,961,000  
Investment securities held to maturity, Allowance for credit losses (1,000) (2,000) (2,000)
Investment securities - HTM, Carrying Value 30,753,000 30,959,000  
Investment securities held to maturity, Gross Unrealized Gains 6,000    
Investment securities held to maturity, Gross Unrealized Losses (1,415,000) (2,553,000)  
Investment securities - HTM, Fair Value 29,344,000 28,406,000  
Corporate bonds      
Information concerning investments with unrealized gains and losses      
Investment securities available for sale, Cost Basis 51,473,000 54,254,000  
Investment securities available for sale, Gross Unrealized Gains 387,000 94,000  
Investment securities available for sale, Gross Unrealized Losses (1,212,000) (2,931,000)  
Investment securities available for sale, Allowance for credit losses   (360,000) (926,000)
Available for sale, Fair Value 50,648,000 51,057,000  
Corporate bonds and other securities      
Information concerning investments with unrealized gains and losses      
Investment securities - HTM, Cost Basis 2,500,000 3,499,000  
Investment securities held to maturity, Allowance for credit losses (89,000) (87,000) $ (35,000)
Investment securities - HTM, Carrying Value 2,411,000 3,412,000  
Investment securities held to maturity, Gross Unrealized Losses (105,000) (73,000)  
Investment securities - HTM, Fair Value $ 2,306,000 $ 3,339,000  
v3.26.1
INVESTMENT SECURITIES - Total investment securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Contractual maturities of securities    
Available for Sale, Cost Basis, Within 1 year $ 8,493  
Available for Sale, Cost Basis, After 1 year but within 5 years 24,425  
Available for Sale, Cost Basis, After 5 years but within 10 years 35,168  
Available for Sale, Cost Basis, Over 10 years 118,085  
Investment securities available for sale, Cost Basis 186,171 $ 172,857
Available for Sale, Fair Value, Within 1 year 8,439  
Available for Sale, Fair Value, After 1 year but within 5 years 23,897  
Available for Sale, Fair Value, After 5 years but within 10 years 34,252  
Available for Sale, Fair Value, Over 10 years 109,640  
Available for Sale, Fair Value 176,228 155,620
Held to Maturity, Cost Basis, Within 1 year 2,406  
Held to Maturity, Cost Basis, After 1 year but within 5 years 15,844  
Held to Maturity, Cost Basis, After 5 years but within 10 years 18,130  
Held to Maturity, Cost Basis, Over 10 years 35,876  
Investment securities held to maturity, Cost Basis 72,256 63,837
Held to Maturity, Fair Value, Within 1 year 2,384  
Held to Maturity, Fair Value, After 1 year but within 5 years 15,569  
Held to Maturity, Fair Value, After 5 years but within 10 years 16,709  
Held to Maturity, Fair Value, Over 10 years 34,254  
Held to Maturity, Fair Value, Total 68,916 58,471
U.S. Agency    
Contractual maturities of securities    
Available for Sale, Cost Basis, After 1 year but within 5 years 3,112  
Available for Sale, Cost Basis, After 5 years but within 10 years 1,000  
Available for Sale, Cost Basis, Over 10 years 1,050  
Investment securities available for sale, Cost Basis 5,162 5,345
Available for Sale, Fair Value, After 1 year but within 5 years 2,904  
Available for Sale, Fair Value, After 5 years but within 10 years 899  
Available for Sale, Fair Value, Over 10 years 987  
Available for Sale, Fair Value 4,790 4,666
Held to Maturity, Cost Basis, After 5 years but within 10 years 2,500  
Investment securities held to maturity, Cost Basis 2,500 2,500
Held to Maturity, Fair Value, After 5 years but within 10 years 2,284  
Held to Maturity, Fair Value, Total 2,284 2,135
U.S. Agency mortgage-backed securities    
Contractual maturities of securities    
Available for Sale, Cost Basis, After 1 year but within 5 years 1,100  
Available for Sale, Cost Basis, After 5 years but within 10 years 3,976  
Available for Sale, Cost Basis, Over 10 years 114,305  
Investment securities available for sale, Cost Basis 119,381 104,227
Available for Sale, Fair Value, After 1 year but within 5 years 1,097  
Available for Sale, Fair Value, After 5 years but within 10 years 3,871  
Available for Sale, Fair Value, Over 10 years 105,888  
Available for Sale, Fair Value 110,856 91,534
Held to Maturity, Cost Basis, After 5 years but within 10 years 1,031  
Held to Maturity, Cost Basis, Over 10 years 35,561  
Investment securities held to maturity, Cost Basis 36,592 26,966
Held to Maturity, Fair Value, After 5 years but within 10 years 1,014  
Held to Maturity, Fair Value, Over 10 years 33,968  
Held to Maturity, Fair Value, Total 34,982 24,591
Municipal    
Contractual maturities of securities    
Available for Sale, Cost Basis, Within 1 year 700  
Available for Sale, Cost Basis, After 1 year but within 5 years 4,372  
Available for Sale, Cost Basis, After 5 years but within 10 years 4,103  
Available for Sale, Cost Basis, Over 10 years 980  
Investment securities available for sale, Cost Basis 10,155 9,031
Available for Sale, Fair Value, Within 1 year 700  
Available for Sale, Fair Value, After 1 year but within 5 years 4,124  
Available for Sale, Fair Value, After 5 years but within 10 years 4,126  
Available for Sale, Fair Value, Over 10 years 984  
Available for Sale, Fair Value 9,934 8,363
Held to Maturity, Cost Basis, Within 1 year 1,406  
Held to Maturity, Cost Basis, After 1 year but within 5 years 15,844  
Held to Maturity, Cost Basis, After 5 years but within 10 years 13,188  
Held to Maturity, Cost Basis, Over 10 years 315  
Investment securities held to maturity, Cost Basis 30,753 30,959
Held to Maturity, Fair Value, Within 1 year 1,404  
Held to Maturity, Fair Value, After 1 year but within 5 years 15,569  
Held to Maturity, Fair Value, After 5 years but within 10 years 12,085  
Held to Maturity, Fair Value, Over 10 years 286  
Held to Maturity, Fair Value, Total 29,344 28,406
Corporate bonds    
Contractual maturities of securities    
Available for Sale, Cost Basis, Within 1 year 7,793  
Available for Sale, Cost Basis, After 1 year but within 5 years 15,841  
Available for Sale, Cost Basis, After 5 years but within 10 years 26,089  
Available for Sale, Cost Basis, Over 10 years 1,750  
Investment securities available for sale, Cost Basis 51,473 54,254
Available for Sale, Fair Value, Within 1 year 7,739  
Available for Sale, Fair Value, After 1 year but within 5 years 15,772  
Available for Sale, Fair Value, After 5 years but within 10 years 25,356  
Available for Sale, Fair Value, Over 10 years 1,781  
Available for Sale, Fair Value 50,648 51,057
Corporate bonds and other securities    
Contractual maturities of securities    
Held to Maturity, Cost Basis, Within 1 year 1,000  
Held to Maturity, Cost Basis, After 5 years but within 10 years 1,411  
Investment securities held to maturity, Cost Basis 2,411 3,412
Held to Maturity, Fair Value, Within 1 year 980  
Held to Maturity, Fair Value, After 5 years but within 10 years 1,326  
Held to Maturity, Fair Value, Total $ 2,306 $ 3,339
v3.26.1
INVESTMENT SECURITIES - Information concerning investments with unrealized losses (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Available-For-Sale-Securities-And-Held-To-Maturity-Securities      
Less than 12 months, Fair Value $ 14,284,000 $ 25,604,000  
Less than 12 months, Unrealized Losses (92,000) (950,000)  
12 months or longer, Fair Value 91,148,000 110,722,000  
12 months or longer, Unrealized Losses (11,017,000) (16,113,000)  
Total, Fair Value 105,432,000 136,326,000  
Total, Unrealized Losses (11,109,000) (17,063,000)  
Allowance for credit losses 0 360,000 $ 926,000
U.S. Agency      
Available-For-Sale-Securities-And-Held-To-Maturity-Securities      
12 months or longer, Fair Value 4,790,000 4,666,000  
12 months or longer, Unrealized Losses (372,000) (679,000)  
Total, Fair Value 4,790,000 4,666,000  
Total, Unrealized Losses (372,000) (679,000)  
U.S. Agency mortgage-backed securities      
Available-For-Sale-Securities-And-Held-To-Maturity-Securities      
Less than 12 months, Fair Value 9,198,000 16,104,000  
Less than 12 months, Unrealized Losses (28,000) (275,000)  
12 months or longer, Fair Value 60,272,000 63,323,000  
12 months or longer, Unrealized Losses (9,136,000) (12,508,000)  
Total, Fair Value 69,470,000 79,427,000  
Total, Unrealized Losses (9,164,000) (12,783,000)  
Municipal      
Available-For-Sale-Securities-And-Held-To-Maturity-Securities      
12 months or longer, Fair Value 5,670,000 8,121,000  
12 months or longer, Unrealized Losses (361,000) (670,000)  
Total, Fair Value 5,670,000 8,121,000  
Total, Unrealized Losses (361,000) (670,000)  
Corporate bonds      
Available-For-Sale-Securities-And-Held-To-Maturity-Securities      
Less than 12 months, Fair Value 5,086,000 9,500,000  
Less than 12 months, Unrealized Losses (64,000) (675,000)  
12 months or longer, Fair Value 20,416,000 34,612,000  
12 months or longer, Unrealized Losses (1,148,000) (2,256,000)  
Total, Fair Value 25,502,000 44,112,000  
Total, Unrealized Losses $ (1,212,000) (2,931,000)  
Allowance for credit losses   $ 360,000 $ 926,000
v3.26.1
INVESTMENT SECURITIES - Allowance for credit losses of available for sale securities by major security type (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]    
Beginning Balance $ 360,000 $ 926,000
Charge-Offs (1,000,000)  
Provision (Recovery) 640,000 (75,000)
Ending Balance 0 360,000
Cumulative effect adjustment for adoption of ASC 326    
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]    
Charge-Offs   (491,000)
Corporate bonds    
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]    
Beginning Balance 360,000 926,000
Charge-Offs (1,000,000)  
Provision (Recovery) $ 640,000 (75,000)
Ending Balance   360,000
Corporate bonds | Cumulative effect adjustment for adoption of ASC 326    
Debt Securities, Available-for-Sale, Allowance for Credit Loss [Roll Forward]    
Charge-Offs   $ (491,000)
v3.26.1
INVESTMENT SECURITIES - Allowance for credit losses of held to maturity securities by major security type (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Schedule of Held-to-Maturity Securities [Line Items]    
Beginning Balance $ 89,000 $ 37,000
Provision (Recovery) 1,000 52,000
Ending Balance 90,000 89,000
Municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Beginning Balance 2,000 2,000
Provision (Recovery) (1,000)  
Ending Balance 1,000 2,000
Corporate bonds and other securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Beginning Balance 87,000 35,000
Provision (Recovery) 2,000 52,000
Ending Balance $ 89,000 $ 87,000
v3.26.1
INVESTMENT SECURITIES- Amortized cost of held to maturity debt securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value $ 72,256 $ 63,837
AAA/AA/A    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 70,845  
UNRATED    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 1,411  
U.S. Agency    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 2,500 2,500
U.S. Agency | AAA/AA/A    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 2,500  
U.S. Agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 36,592 26,966
U.S. Agency mortgage-backed securities | AAA/AA/A    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 36,592  
Municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 30,753 30,959
Municipal | AAA/AA/A    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 30,753  
Corporate bonds and other securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 2,411 $ 3,412
Corporate bonds and other securities | AAA/AA/A    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value 1,000  
Corporate bonds and other securities | UNRATED    
Schedule of Held-to-Maturity Securities [Line Items]    
Investment securities - HTM, Carrying Value $ 1,411  
v3.26.1
INVESTMENT SECURITIES - Trading securities (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Investment Securities  
Debt Securities, Trading $ 7,253
U.S. Treasury  
Investment Securities  
Debt Securities, Trading 3,401
Municipal  
Investment Securities  
Debt Securities, Trading $ 3,852
v3.26.1
INVESTMENT SECURITIES - Net gain on trading securities (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
INVESTMENT SECURITIES  
Net realized gain on sales $ 213
Net unrealized gain 29
Net gain on trading securities 242
Less: Portfolio expenses and management fees 124
Trading securities revenue $ 118
v3.26.1
INVESTMENT SECURITIES - Additional information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
INVESTMENT SECURITIES:      
Held to Maturity, Fair Value, Total $ 68,916,000 $ 58,471,000  
Investment trading account 7,000,000    
Cash held in the account available for future security purchases 99,000    
Gross investment losses 0 0  
Gross investment gains 0 0  
Proceeds from sale of investment securities - available for sale 0 935,000  
Book value of securities available for sale and held to maturity $ 142,700,000 125,800,000  
Premium percentage on mortgage backed securities purchased 100.60%    
Charge-off of a non-performing security totaling $ 1,000,000    
Provision (Recovery) $ 640,000 (75,000)  
Consolidated investment securities portfolio modified, years 3 years 9 months 3 days    
Percentage of unrealized loss position for less than 12 months 0.60%    
Percentage of unrealized loss position for greater than 12 months 10.80%    
Unrealized loss on equity securities $ 0    
FV-Ni Realized gain loss 0 0  
Carrying value of equity securities without readily determinable fair values 600,000 600,000  
Investment securities held to maturity, Allowance for credit losses (90,000) (89,000) $ (37,000)
Held to maturity debt securities in non-accrual 0 0  
Restricted shares carrying value 0    
U.S. Agency      
INVESTMENT SECURITIES:      
Held to Maturity, Fair Value, Total $ 2,284,000 2,135,000  
Available for sale securities debt maturities weighted average maturity term 5 years 21 days    
Weighted average expected maturity for held to maturity securities 4 years 11 months 19 days    
Unrealized loss position for greater than 12 months, Number of positions | item 6    
Investment securities held to maturity, Allowance for credit losses $ 0    
U.S. Agency mortgage-backed securities      
INVESTMENT SECURITIES:      
Held to Maturity, Fair Value, Total $ 34,982,000 24,591,000  
Available for sale securities debt maturities weighted average maturity term 7 years 7 months 6 days    
Weighted average expected maturity for held to maturity securities 6 years 7 months 24 days    
Unrealized loss position for less than 12 months, Number of positions | item 6    
Unrealized loss position for greater than 12 months, Number of positions | item 127    
Investment securities held to maturity, Allowance for credit losses $ 0    
Municipal      
INVESTMENT SECURITIES:      
Held to Maturity, Fair Value, Total $ 29,344,000 28,406,000  
Available for sale securities debt maturities weighted average maturity term 5 years 2 months 8 days    
Weighted average expected maturity for held to maturity securities 3 years 8 months 4 days    
Unrealized loss position for greater than 12 months, Number of positions | item 16    
Investment securities held to maturity, Allowance for credit losses $ (1,000) (2,000) $ (2,000)
Corporate bonds      
INVESTMENT SECURITIES:      
Charge-off of a non-performing security totaling 1,000,000    
Provision (Recovery) $ 640,000 $ (75,000)  
Available for sale securities debt maturities weighted average maturity term 4 years 1 month 20 days    
Weighted average expected maturity for held to maturity securities 3 years 11 months 4 days    
Unrealized loss position for less than 12 months, Number of positions | item 10    
Unrealized loss position for greater than 12 months, Number of positions | item 39    
Israel Jubilee Bonds      
INVESTMENT SECURITIES:      
Held to maturity securities $ 1,000,000    
Held to Maturity, Fair Value, Total $ 980,000    
Held to maturity securities term 3 years    
Revolving credit facility      
INVESTMENT SECURITIES:      
Collateral amount $ 3,800,000    
Standard & Poor's, AAA Rating      
INVESTMENT SECURITIES      
Portfolio rated 1.70% 59.20%  
Standard & Poor's, AA Rating      
INVESTMENT SECURITIES      
Portfolio rated 76.50% 72.80%  
Securities rated below A      
INVESTMENT SECURITIES      
Portfolio rated 13.50% 14.70%  
Deferred compensation, share-based payments | Assets held with Rabbi trust      
INVESTMENT SECURITIES:      
Equity securities $ 183,000 $ 350,000  
v3.26.1
LOANS - Loan Portfolio (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loans    
Total Loans $ 1,032,727 $ 1,067,949
Commercial and industrial    
Loans    
Total Loans 144,325 147,251
Other commercial real estate (non-owner occupied)    
Loans    
Total Loans 217,935 233,882
Commercial Portfolio Segment    
Loans    
Total Loans 750,108 782,228
Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Loans    
Total Loans 85,233 86,953
Commercial Portfolio Segment | Commercial and industrial    
Loans    
Total Loans 144,325 147,251
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Loans    
Total Loans 171,530 181,778
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family    
Loans    
Total Loans 131,085 132,364
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Loans    
Total Loans 217,935 233,882
Residential mortgages    
Loans    
Total Loans 169,814 177,110
Consumer    
Loans    
Total Loans 112,805 108,611
Consumer | Consumer    
Loans    
Total Loans $ 112,805 $ 108,611
v3.26.1
LOANS - Summary of loan activity with related parties (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Loan activity with related parties    
BALANCE $ 540,000 $ 663,000
ADDITIONS 110,000 48,000
REPAYMENTS 151,000 171,000
BALANCE $ 499,000 $ 540,000
v3.26.1
LOANS - Additional information (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
LOANS    
Real estate-construction loans, percentage 5.00% 3.60%
Loan balances net of unearned income $ 466,000 $ 517,000
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Allowance for credit losses by loan portfolio segment (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans $ 13,128,000 $ 13,912,000 $ 15,053,000
Charge-Offs (5,073,000) (2,205,000)  
Recoveries 181,000 182,000  
Provision (Recovery) 4,108,000 882,000  
Other commercial real estate (non-owner occupied)      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 3,725,000 3,451,000 3,428,000
Charge-Offs (3,145,000) (1,571,000)  
Recoveries 12,000 11,000  
Provision (Recovery) 3,407,000 1,583,000  
Commercial Portfolio Segment      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Charge-Offs (4,919,000) (1,998,000)  
Commercial Portfolio Segment | Commercial real estate (owner occupied)      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 319,000 398,000 1,529,000
Charge-Offs 0    
Recoveries 24,000 24,000  
Provision (Recovery) (103,000) (1,155,000)  
Commercial Portfolio Segment | Commercial and industrial      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 2,987,000 2,860,000 3,030,000
Charge-Offs (1,774,000) (427,000)  
Recoveries 65,000 45,000  
Provision (Recovery) 1,836,000 212,000  
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 3,248,000 3,695,000 3,488,000
Charge-Offs 0    
Recoveries 0    
Provision (Recovery) (447,000) 207,000  
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 1,403,000 1,478,000 1,430,000
Charge-Offs 0    
Recoveries 0 3,000  
Provision (Recovery) (75,000) 45,000  
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Charge-Offs (3,145,000) (1,571,000)  
Residential mortgages      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 296,000 839,000 1,021,000
Charge-Offs 0    
Recoveries 5,000 18,000  
Provision (Recovery) (548,000) (200,000)  
Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Allowance for credit losses - Loans 1,150,000 1,191,000 $ 1,127,000
Charge-Offs (154,000) (207,000)  
Recoveries 75,000 81,000  
Provision (Recovery) $ 38,000 $ 190,000  
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Loan portfolio and allowance for credit losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loans:      
Individually evaluated $ 7,627 $ 14,266  
Collectively evaluated 1,025,100 1,053,683  
Total loans 1,032,727 1,067,949  
Allowance for loan losses:      
Specific reserve allocation 558 541  
General reserve allocation 12,570 13,371  
Total allowance for credit losses 13,128 13,912 $ 15,053
Commercial and industrial      
Loans:      
Total loans 144,325 147,251  
Other commercial real estate (non-owner occupied)      
Loans:      
Individually evaluated 2,034 8,773  
Collectively evaluated 215,901 225,109  
Total loans 217,935 233,882  
Allowance for loan losses:      
General reserve allocation 3,725 3,451  
Total allowance for credit losses 3,725 3,451 3,428
Commercial Portfolio Segment      
Loans:      
Total loans 750,108 782,228  
Commercial Portfolio Segment | Commercial real estate (owner occupied)      
Loans:      
Individually evaluated 2,875 3,429  
Collectively evaluated 82,358 83,524  
Total loans 85,233 86,953  
Allowance for loan losses:      
General reserve allocation 319 398  
Total allowance for credit losses 319 398 1,529
Commercial Portfolio Segment | Commercial and industrial      
Loans:      
Individually evaluated 2,148 1,675  
Collectively evaluated 142,177 145,576  
Total loans 144,325 147,251  
Allowance for loan losses:      
Specific reserve allocation 558 541  
General reserve allocation 2,429 2,319  
Total allowance for credit losses 2,987 2,860 3,030
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail      
Loans:      
Individually evaluated 415    
Collectively evaluated 171,115 181,778  
Total loans 171,530 181,778  
Allowance for loan losses:      
General reserve allocation 3,248 3,695  
Total allowance for credit losses 3,248 3,695 3,488
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family      
Loans:      
Collectively evaluated 131,085 132,364  
Total loans 131,085 132,364  
Allowance for loan losses:      
General reserve allocation 1,403 1,478  
Total allowance for credit losses 1,403 1,478 1,430
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)      
Loans:      
Total loans 217,935 233,882  
Residential mortgages      
Loans:      
Individually evaluated 155 379  
Collectively evaluated 169,659 176,731  
Total loans 169,814 177,110  
Allowance for loan losses:      
General reserve allocation 296 839  
Total allowance for credit losses 296 839 1,021
Consumer      
Loans:      
Individually evaluated   10  
Collectively evaluated 112,805 108,601  
Total loans 112,805 108,611  
Allowance for loan losses:      
General reserve allocation 1,150 1,191  
Total allowance for credit losses $ 1,150 $ 1,191 $ 1,127
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Amortized cost basis of collateral-dependent loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans $ 1,032,727 $ 1,067,949
Collateral    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans   13,590
Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 6,740  
Business Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 173  
Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 144,325 147,251
Retail | Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 415  
Other commercial real estate (non-owner occupied)    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 217,935 233,882
Other commercial real estate (non-owner occupied) | Collateral    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans   8,773
Other commercial real estate (non-owner occupied) | Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 2,034  
Commercial Portfolio Segment    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 750,108 782,228
Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 85,233 86,953
Commercial Portfolio Segment | Commercial real estate (owner occupied) | Collateral    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans   3,429
Commercial Portfolio Segment | Commercial real estate (owner occupied) | Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 2,774  
Commercial Portfolio Segment | Commercial real estate (owner occupied) | Business Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 101  
Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 144,325 147,251
Commercial Portfolio Segment | Commercial and industrial | Collateral    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans   1,000
Commercial Portfolio Segment | Commercial and industrial | Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 1,362  
Commercial Portfolio Segment | Commercial and industrial | Business Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 72  
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 217,935 233,882
Residential mortgages    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 169,814 177,110
Residential mortgages | Collateral    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans   378
Residential mortgages | Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans 155  
Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans $ 112,805 108,611
Consumer | Collateral    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total Loans   $ 10
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Non-Performing Assets from the Loan Portfolio (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL $ 6,916 $ 9,314
Non-accrual with ACL 1,376 1,496
Total non-accrual 8,292 10,810
Loans past due over 90 days still accruing 10 123
OREO and repossessed assets 216 1,724
Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 8,518 12,657
Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-accrual 2,151  
Other commercial real estate (non-owner occupied)    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-accrual 2,034  
Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL 2,875 152
Total non-accrual 2,875 152
Commercial Portfolio Segment | Commercial real estate (owner occupied) | Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 2,875 152
Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL 1,437  
Non-accrual with ACL 714 675
Total non-accrual 2,151 675
Loans past due over 90 days still accruing   97
OREO and repossessed assets 216 234
Commercial Portfolio Segment | Commercial and industrial | Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 2,367 1,006
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL 415  
Total non-accrual 415  
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail | Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 415  
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL 2,034 8,773
Total non-accrual 2,034 8,773
OREO and repossessed assets   1,476
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied) | Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 2,034 10,249
Residential mortgages    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL 155 379
Non-accrual with ACL 51  
Total non-accrual 206 379
Loans past due over 90 days still accruing 10 26
OREO and repossessed assets   14
Residential mortgages | Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 216 419
Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Non-accrual with no ACL   10
Non-accrual with ACL 611 821
Total non-accrual 611 831
Consumer | Non-Performing Assets    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-performing assets 611 831
Consumer | Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total non-accrual $ 611 $ 831
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Commercial and commercial real estate loan portfolios (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]    
Total loans $ 1,032,727 $ 1,067,949
Current period gross charge-offs, Total 5,073 2,205
Commercial and industrial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total loans 144,325 147,251
Other commercial real estate (non-owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
Total loans 217,935 233,882
Current period gross charge-offs, Total 3,145 1,571
Commercial Portfolio Segment    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 82,731 110,142
2024/2023 93,980 137,086
2023/2022 127,208 101,631
2022/2021 77,173 113,330
2021/2020 105,185 65,020
Prior 198,209 192,032
Revolving Loans Amortized Cost Basis 60,587 60,995
Revolving Loans Converted to Term 5,035 1,992
Total loans 750,108 782,228
Current period gross charge-offs, 2023/2022   427
Current period gross charge-offs, 2022/2021 200  
Current period gross charge-offs, 2021/2020 1,396  
Current period gross charge-offs, Prior 3,323 1,571
Current period gross charge-offs, Total 4,919 1,998
Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 8,901 10,294
2024/2023 10,312 17,016
2023/2022 16,564 6,648
2022/2021 6,050 14,355
2021/2020 12,198 10,476
Prior 30,552 26,984
Revolving Loans Amortized Cost Basis 656 324
Revolving Loans Converted to Term   856
Total loans 85,233 86,953
Current period gross charge-offs, Total 0  
Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 22,994 16,714
2024/2023 10,640 19,837
2023/2022 14,643 21,386
2022/2021 13,107 9,150
2021/2020 5,670 4,568
Prior 19,328 19,969
Revolving Loans Amortized Cost Basis 52,908 55,627
Revolving Loans Converted to Term 5,035  
Total loans 144,325 147,251
Current period gross charge-offs, 2023/2022   427
Current period gross charge-offs, 2022/2021 200  
Current period gross charge-offs, 2021/2020 1,396  
Current period gross charge-offs, Prior 178  
Current period gross charge-offs, Total 1,774 427
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 17,984 29,349
2024/2023 26,374 38,912
2023/2022 35,850 21,240
2022/2021 14,284 31,934
2021/2020 30,707 21,322
Prior 46,305 38,047
Revolving Loans Amortized Cost Basis 26 32
Revolving Loans Converted to Term   942
Total loans 171,530 181,778
Current period gross charge-offs, Total 0  
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 9,762 25,984
2024/2023 24,594 28,807
2023/2022 32,750 16,423
2022/2021 11,515 16,816
2021/2020 15,867 12,428
Prior 36,573 31,431
Revolving Loans Amortized Cost Basis 24 475
Total loans 131,085 132,364
Current period gross charge-offs, Total 0  
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 23,090 27,801
2024/2023 22,060 32,514
2023/2022 27,401 35,934
2022/2021 32,217 41,075
2021/2020 40,743 16,226
Prior 65,451 75,601
Revolving Loans Amortized Cost Basis 6,973 4,537
Revolving Loans Converted to Term   194
Total loans 217,935 233,882
Current period gross charge-offs, Prior 3,145 1,571
Current period gross charge-offs, Total 3,145 1,571
Pass | Commercial Portfolio Segment    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 82,731 110,142
2024/2023 93,980 136,606
2023/2022 126,793 100,348
2022/2021 76,686 107,698
2021/2020 102,084 64,105
Prior 187,212 175,405
Revolving Loans Amortized Cost Basis 57,946 59,823
Revolving Loans Converted to Term 5,010 1,992
Total loans 732,442 756,119
Pass | Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 8,901 10,294
2024/2023 10,312 17,016
2023/2022 16,564 6,648
2022/2021 6,050 10,675
2021/2020 9,460 10,476
Prior 29,511 26,393
Revolving Loans Amortized Cost Basis 433 324
Revolving Loans Converted to Term   856
Total loans 81,231 82,682
Pass | Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 22,994 16,714
2024/2023 10,640 19,357
2023/2022 14,643 20,977
2022/2021 12,800 7,397
2021/2020 5,307 4,568
Prior 18,626 19,280
Revolving Loans Amortized Cost Basis 50,490 54,455
Revolving Loans Converted to Term 5,010  
Total loans 140,510 142,748
Pass | Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 17,984 29,349
2024/2023 26,374 38,912
2023/2022 35,435 20,935
2022/2021 14,284 31,934
2021/2020 30,707 21,322
Prior 46,305 38,047
Revolving Loans Amortized Cost Basis 26 32
Revolving Loans Converted to Term   942
Total loans 171,115 181,473
Pass | Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 9,762 25,984
2024/2023 24,594 28,807
2023/2022 32,750 16,423
2022/2021 11,515 16,816
2021/2020 15,867 11,513
Prior 34,378 30,066
Revolving Loans Amortized Cost Basis 24 475
Total loans 128,890 130,084
Pass | Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
2025/2024 23,090 27,801
2024/2023 22,060 32,514
2023/2022 27,401 35,365
2022/2021 32,037 40,876
2021/2020 40,743 16,226
Prior 58,392 61,619
Revolving Loans Amortized Cost Basis 6,973 4,537
Revolving Loans Converted to Term   194
Total loans 210,696 219,132
Special Mention | Commercial Portfolio Segment    
Financing Receivable, Credit Quality Indicator [Line Items]    
2023/2022   305
Prior 5,725 3,488
Revolving Loans Amortized Cost Basis 1,463  
Total loans 7,188 3,793
Special Mention | Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
Prior 520  
Revolving Loans Amortized Cost Basis 223  
Total loans 743  
Special Mention | Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Revolving Loans Amortized Cost Basis 1,240  
Total loans 1,240  
Special Mention | Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Financing Receivable, Credit Quality Indicator [Line Items]    
2023/2022   305
Total loans   305
Special Mention | Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
Prior 5,205 3,488
Total loans 5,205 3,488
Substandard | Commercial Portfolio Segment    
Financing Receivable, Credit Quality Indicator [Line Items]    
2024/2023   480
2023/2022 415 978
2022/2021 487 5,632
2021/2020 3,101 915
Prior 4,874 13,139
Revolving Loans Amortized Cost Basis 1,178 1,172
Revolving Loans Converted to Term 25  
Total loans 10,080 22,316
Substandard | Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
2022/2021   3,680
2021/2020 2,738  
Prior 521 591
Total loans 3,259 4,271
Substandard | Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Credit Quality Indicator [Line Items]    
2024/2023   480
2023/2022   409
2022/2021 307 1,753
2021/2020 363  
Prior 304 689
Revolving Loans Amortized Cost Basis 1,178 1,172
Revolving Loans Converted to Term 25  
Total loans 2,177 4,503
Substandard | Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Financing Receivable, Credit Quality Indicator [Line Items]    
2023/2022 415  
Total loans 415  
Substandard | Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family    
Financing Receivable, Credit Quality Indicator [Line Items]    
2021/2020   915
Prior 2,195 1,365
Total loans 2,195 2,280
Substandard | Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Financing Receivable, Credit Quality Indicator [Line Items]    
2023/2022   569
2022/2021 180 199
Prior 1,854 10,494
Total loans 2,034 $ 11,262
Doubtful | Commercial Portfolio Segment    
Financing Receivable, Credit Quality Indicator [Line Items]    
Prior 398  
Total loans 398  
Doubtful | Commercial Portfolio Segment | Commercial and industrial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Prior 398  
Total loans $ 398  
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Residential and consumer portfolio (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Performing and non-performing outstanding balances of the residential and consumer portfolios    
Total loans $ 1,032,727 $ 1,067,949
Current period gross charge-offs, Total 5,073 2,205
Consumer and Residential mortgages    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2025/2024 15,923 24,353
2024/2023 22,500 26,700
2023/2022 23,080 26,843
2022/2021 23,023 65,145
2021/2020 59,453 44,402
Prior 78,515 43,466
Revolving Loans Amortized Cost Basis 60,015 54,148
Revolving Loans Converted to Term 110 664
Total loans 282,619 285,721
Current period gross charge-offs, 2025/2024 1 5
Current period gross charge-offs, 2024/2023 28 6
Current period gross charge-offs, 2023/2022 41 21
Current period gross charge-offs, 2022/2021 8 19
Current period gross charge-offs, 2021/2020 1 13
Current period gross charge-offs, Prior 75 143
Current period gross charge-offs, Total 154 207
Residential mortgages    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2025/2024 4,377 12,877
2024/2023 13,914 15,602
2023/2022 15,006 10,400
2022/2021 10,054 57,540
2021/2020 53,633 41,868
Prior 72,830 38,823
Total loans 169,814 177,110
Current period gross charge-offs, Total 0  
Consumer    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2025/2024 11,546 11,476
2024/2023 8,586 11,098
2023/2022 8,074 16,443
2022/2021 12,969 7,605
2021/2020 5,820 2,534
Prior 5,685 4,643
Revolving Loans Amortized Cost Basis 60,015 54,148
Revolving Loans Converted to Term 110 664
Total loans 112,805 108,611
Current period gross charge-offs, 2025/2024 1 5
Current period gross charge-offs, 2024/2023 28 6
Current period gross charge-offs, 2023/2022 41 21
Current period gross charge-offs, 2022/2021 8 19
Current period gross charge-offs, 2021/2020 1 13
Current period gross charge-offs, Prior 75 143
Current period gross charge-offs, Total 154 207
Performing | Consumer and Residential mortgages    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2025/2024 15,923 24,353
2024/2023 22,495 26,590
2023/2022 23,005 26,797
2022/2021 23,006 65,145
2021/2020 59,298 44,343
Prior 78,132 42,717
Revolving Loans Amortized Cost Basis 59,823 53,876
Revolving Loans Converted to Term 110 664
Total loans 281,792 284,485
Performing | Residential mortgages    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2025/2024 4,377 12,877
2024/2023 13,914 15,602
2023/2022 15,006 10,400
2022/2021 10,054 57,540
2021/2020 53,478 41,868
Prior 72,769 38,418
Total loans 169,598 176,705
Performing | Consumer    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2025/2024 11,546 11,476
2024/2023 8,581 10,988
2023/2022 7,999 16,397
2022/2021 12,952 7,605
2021/2020 5,820 2,475
Prior 5,363 4,299
Revolving Loans Amortized Cost Basis 59,823 53,876
Revolving Loans Converted to Term 110 664
Total loans 112,194 107,780
Non-performing | Consumer and Residential mortgages    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2024/2023 5 110
2023/2022 75 46
2022/2021 17  
2021/2020 155 59
Prior 383 749
Revolving Loans Amortized Cost Basis 192 272
Total loans 827 1,236
Non-performing | Residential mortgages    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2021/2020 155  
Prior 61 405
Total loans 216 405
Non-performing | Consumer    
Performing and non-performing outstanding balances of the residential and consumer portfolios    
2024/2023 5 110
2023/2022 75 46
2022/2021 17  
2021/2020   59
Prior 322 344
Revolving Loans Amortized Cost Basis 192 272
Total loans $ 611 $ 831
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Aging categories of performing loans and non-accrual loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual $ 8,292 $ 10,810
Total Loans 1,032,727 1,067,949
Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 2,151  
Total Loans 144,325 147,251
Other commercial real estate (non-owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 2,034  
Total Loans 217,935 233,882
Residential mortgages    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 206 379
Total Loans 169,814 177,110
Current    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 1,022,106 1,052,664
Current | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 141,691  
Current | Other commercial real estate (non-owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 215,901  
Current | Residential mortgages    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 168,602 175,817
Total Past Due    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 2,329 4,475
Total Past Due | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 483  
Total Past Due | Residential mortgages    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 1,006 914
30-59 Days Past Due    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 2,109 4,280
30-59 Days Past Due | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 455  
30-59 Days Past Due | Residential mortgages    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 926 852
60-89 Days Past Due    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 210 72
60-89 Days Past Due | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 28  
60-89 Days Past Due | Residential mortgages    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 70 36
90 or More Days Past Due    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 10 123
90 or More Days Past Due | Residential mortgages    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 10 26
Commercial Portfolio Segment    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Loans 750,108 782,228
Commercial Portfolio Segment | Commercial real estate (owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 2,875 152
Total Loans 85,233 86,953
Commercial Portfolio Segment | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 2,151 675
Total Loans 144,325 147,251
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - retail    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 415  
Total Loans 171,530 181,778
Commercial Portfolio Segment | Commercial real estate (non-owner occupied) - multi-family    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Loans 131,085 132,364
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 2,034 8,773
Total Loans 217,935 233,882
Commercial Portfolio Segment | Current | Commercial real estate (owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 82,358 86,368
Commercial Portfolio Segment | Current | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   144,627
Commercial Portfolio Segment | Current | Commercial real estate (non-owner occupied) - retail    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 171,115 181,778
Commercial Portfolio Segment | Current | Commercial real estate (non-owner occupied) - multi-family    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 131,085 132,364
Commercial Portfolio Segment | Current | Other commercial real estate (non-owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   224,914
Commercial Portfolio Segment | Total Past Due | Commercial real estate (owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   433
Commercial Portfolio Segment | Total Past Due | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   1,949
Commercial Portfolio Segment | Total Past Due | Other commercial real estate (non-owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   195
Commercial Portfolio Segment | 30-59 Days Past Due | Commercial real estate (owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   433
Commercial Portfolio Segment | 30-59 Days Past Due | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   1,852
Commercial Portfolio Segment | 30-59 Days Past Due | Other commercial real estate (non-owner occupied)    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   195
Commercial Portfolio Segment | 90 or More Days Past Due | Commercial and industrial    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due   97
Consumer    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 611 831
Total Loans 112,805 108,611
Consumer | Consumer    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Non-Accrual 611 831
Total Loans 112,805 108,611
Consumer | Current | Consumer    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 111,354 106,796
Consumer | Total Past Due | Consumer    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 840 984
Consumer | 30-59 Days Past Due | Consumer    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due 728 948
Consumer | 60-89 Days Past Due | Consumer    
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans    
Total Past Due $ 112 $ 36
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Loan modifications to borrowers experiencing financial difficulty (Details)
 3 Months Ended 12 Months Ended
Dec. 31, 2024
USD ($)
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
USD ($)
loan
Dec. 31, 2024
USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]            
Number of loans modified | loan         0  
Unfunded loan commitments $ 0       $ 0 $ 0
Term Extension            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis         2,540,000 154,000
Term Extension and Interest Rate Reduction            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis           480,000
Payment Delay            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis           $ 152,000
Commercial and industrial | Term Extension            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Term extension date 1 year 90 days 90 days 90 days    
Commercial and industrial | Extended Maturity and Principal Forgiveness            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Term extension date           4 years
Commercial Portfolio Segment | Commercial real estate (owner occupied) | Term Extension            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Bank deposit as additional collateral         1,000,000  
Commercial Portfolio Segment | Commercial real estate (owner occupied) | Payment Delay            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis           $ 152,000
Percentage of Total Class of Loans           0.17%
Additional amortization period 60 months         60 months
Commercial Portfolio Segment | Commercial and industrial | Term Extension            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis           $ 154,000
Percentage of Total Class of Loans           0.10%
Commercial Portfolio Segment | Commercial and industrial | Extended Maturity and Principal Forgiveness            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis           $ 480,000
Percentage of Total Class of Loans           0.33%
Commercial Portfolio Segment | Other commercial real estate (non-owner occupied) | Term Extension            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis         $ 2,349,000  
Percentage of Total Class of Loans         1.08%  
Term extension date         15 months  
Residential mortgages | Term Extension            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Amortized Cost Basis         $ 191,000  
Percentage of Total Class of Loans         0.11%  
Term extension date         230 months  
v3.26.1
ALLOWANCE FOR CREDIT LOSSES - LOANS - Additional information (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Provision (Recovery)   $ 4,108,000 $ 882,000
Financing receivable excluding accrued interest allowance for credit loss period increase decrease     3,200,000
Charge-Offs   5,073,000 2,205,000
Net loan charge-offs   $ 4,900,000 $ 2,000,000
Percentage of charge-offs   0.46% 0.19%
Percentage of coverage on non-performing assets 158.00% 158.00% 127.00%
Percentage Of Allowance For Total Loans 1.27% 1.27% 1.30%
Percentage of general reserve 41.00%    
Percentage of quantitative reserve 59.00%    
Evaluated for impairment $ 150,000 $ 150,000  
Residential Real Estate      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Other assets 0 0 $ 14,000
Residential Mortgages      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Mortgage loans in process of foreclosure, amount 130,000 130,000  
Pass      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Minimum individual loan balance requiring quarterly review 2,000,000 2,000,000  
Special Mention      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Minimum individual loan balance requiring quarterly review 250,000 250,000  
Substandard      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Minimum individual loan balance requiring quarterly review 250,000 250,000  
Doubtful      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Minimum individual loan balance requiring quarterly review 100,000 100,000  
Other commercial real estate (non-owner occupied)      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Provision (Recovery)   3,407,000 1,583,000
Charge-Offs   3,145,000 1,571,000
Commercial Portfolio      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Charge-Offs   4,919,000 1,998,000
Commercial Portfolio | Commercial loan      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Minimum aggregate balances for commercial loan relationship under structure loan rating process 1,000,000 $ 1,000,000  
Commercial Portfolio | Commercial Portfolio      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Minimum percent of portfolio to be reviewed   43.00%  
Commercial Portfolio | Commercial and industrial      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Provision (Recovery)   $ 1,836,000 212,000
Charge-Offs   1,774,000 427,000
Commercial Portfolio | Other commercial real estate (non-owner occupied)      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Charge-Offs   3,145,000 1,571,000
Commercial Portfolio | Commercial real estate (non-owner occupied) - retail      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Provision (Recovery)   (447,000) 207,000
Charge-Offs   0  
Non-performing      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total non-performing assets $ 8,518,000 $ 8,518,000 $ 12,657,000
Non-performing assets as a percent of loans 0.82% 0.82% 1.19%
Non-performing | Commercial Portfolio | Commercial and industrial      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total non-performing assets $ 2,367,000 $ 2,367,000 $ 1,006,000
Non-performing | Commercial Portfolio | Other commercial real estate (non-owner occupied)      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total non-performing assets 2,034,000 2,034,000 $ 10,249,000
Non-performing | Commercial Portfolio | Commercial real estate (non-owner occupied) - retail      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Total non-performing assets $ 415,000 $ 415,000  
v3.26.1
PREMISES AND EQUIPMENT (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Premises and Equipment    
Total at cost $ 38,863 $ 40,247
Less: Accumulated depreciation and amortization 24,934 26,019
Premises and equipment, net 13,929 14,228
Land    
Premises and Equipment    
Total at cost 1,225 1,225
Premises    
Premises and Equipment    
Total at cost 28,225 29,696
Furniture and equipment    
Premises and Equipment    
Total at cost 8,177 8,097
Leasehold improvements    
Premises and Equipment    
Total at cost $ 1,236 $ 1,229
v3.26.1
PREMISES AND EQUIPMENT - Additional information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Premises and Equipment    
Depreciation and amortization expense $ 1,700,000 $ 1,700,000
Director | Director    
Premises and Equipment    
Expense paid to related party $ 232,000 $ 233,000
v3.26.1
LEASE COMMITMENTS - Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LEASE COMMITMENTS    
Amortization of right-of-use asset $ 225 $ 225
Interest expense 100 108
Operating lease cost 252 251
Total lease cost 577 584
Financing leases 288 276
Operating leases 244 241
Total cash paid on leases $ 532 $ 517
v3.26.1
LEASE COMMITMENTS - Leases outstanding (Details)
Dec. 31, 2025
Dec. 31, 2024
LEASE COMMITMENTS    
Operating Lease, Weighted-average remaining term (years) 7 years 6 months 8 years 6 months
Financing Lease, Weighted-average remaining term (years) 12 years 3 months 18 days 13 years 1 month 6 days
Operating Lease, Weighted-average discount rate 4.30% 4.31%
Financing Lease, Weighted-average discount rate 3.84% 3.86%
v3.26.1
LEASE COMMITMENTS - Operating and financing leases - (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
LEASE COMMITMENTS    
2025/2026 $ 240 $ 233
2026/2027 208 223
2027/2028 205 202
2028/2029 207 205
2029/2030 210 207
Thereafter 610 821
Total undiscounted cash flows 1,680 1,891
Discount on cash flows (254) (319)
Total lease liabilities 1,426 1,572
2025/2026 291 288
2026/2027 278 291
2027/2028 246 278
2028/2029 223 246
2029/2030 233 223
Thereafter 1,895 2,128
Total undiscounted cash flows 3,166 3,454
Discount on cash flows (665) (765)
Total lease liabilities $ 2,501 $ 2,689
v3.26.1
LEASE COMMITMENTS - Additional information (Details) - Director
 12 Months Ended
Dec. 31, 2025
USD ($)
ft²
Dec. 31, 2024
USD ($)
Property, Plant and Equipment [Line Items]    
Area of lease | ft² 1,049  
Lease income received from related party | $ $ 2,000 $ 13,000
v3.26.1
DEPOSITS (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Demand:    
Non-interest bearing $ 159,198 $ 171,622
Interest bearing 322,155 342,158
Savings 123,075 119,479
Money market 265,953 231,424
Time deposits 377,747 336,312
Total deposits $ 1,248,128 $ 1,200,995
v3.26.1
DEPOSITS - Maturity of time deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
TIME DEPOSITS OF $100,000 OR MORE    
2026 $ 301,216  
2027 61,461  
2028 5,501  
2029 4,386  
2030 2,733  
2031 and after 2,450  
Total $ 377,747 $ 336,312
v3.26.1
DEPOSITS - Additional information (Details)
Dec. 31, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
DEPOSITS.    
Time deposits meet or exceed the FDIC insurance limit $ 144,300,000 $ 101,200,000
Related party deposits $ 5,405,000 4,219,000
Number of deposit exceeding threshold percentage of total deposits | item 1  
Percentage of deposits 5.00%  
Deposits exceeding threshold percentage of total deposits $ 82,600,000 $ 86,700,000
v3.26.1
BORROWINGS - Short-Term Borrowings (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
BORROWINGS    
Balance at year-end   $ 14,642,000
Federal Funds Purchased    
BORROWINGS    
Balance at year-end $ 0 0
Average balance during year $ 27,000 $ 7,000
Average rate paid for the year 4.89% 6.59%
Short-Term Borrowings    
BORROWINGS    
Balance at year-end $ 0 $ 14,642,000
Maximum balance at any month end 31,551,000 36,650,000
Average balance during year $ 5,528,000 $ 27,956,000
Average rate paid for the year 4.78% 5.66%
Interest rate on year-end balance   4.71%
v3.26.1
BORROWINGS - Additional information (Details) - USD ($)
 12 Months Ended
Aug. 26, 2021
Dec. 31, 2025
Dec. 31, 2024
BORROWINGS      
Short-term borrowings     $ 14,642,000
Line of credit facility   $ 3,000,000  
Basis spread   2.50%  
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] us-gaap:SecuredOvernightFinancingRateSofrMember us-gaap:SecuredOvernightFinancingRateSofrMember  
Adjustment on variable rate   0.10%  
Outstanding borrowings   $ 0  
Federal Funds Purchased      
BORROWINGS      
Short-term borrowings   0 0
Short-Term Borrowings      
BORROWINGS      
Short-term borrowings   $ 0 $ 14,642,000
v3.26.1
BORROWINGS - Term Advances from Federal Home Loan Bank (FHLB) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
WEIGHTED AVERAGE YIELD    
2025/2026 4.26% 4.76%
2026/2027 4.23% 4.27%
2027/2028 4.46% 4.23%
2028/2029   4.46%
Total advances from FHLB 4.30% 4.40%
BALANCE    
2025/2026 $ 17,770 $ 11,943
2026/2027 15,100 17,270
2027/2028 11,745 15,100
2028/2029   11,745
Total advances from FHLB $ 44,615 $ 56,058
v3.26.1
BORROWINGS - Advances from Federal Home Loan Bank and Subordinated Debt - Additional information (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2021
Aug. 26, 2021
Dec. 29, 2015
Apr. 28, 1998
Sep. 30, 2021
Dec. 31, 2025
Dec. 31, 2024
Short-Term Debt [Line Items]              
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds           $ 311,000  
Available Unsecured Federal Funds           $ 35,000  
Debt Instrument, Interest Rate, Stated Percentage       8.45%      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]   us-gaap:SecuredOvernightFinancingRateSofrMember       us-gaap:SecuredOvernightFinancingRateSofrMember  
Basis spread           2.50%  
Payments for Repurchase of Trust Preferred Securities       $ 12,000      
Subordinated Debt           $ 26,767 $ 26,726
Federal Reserve Bank              
Short-Term Debt [Line Items]              
Availability Of Short term Borrowings Federal Reserve           41,000  
Subordinated Debt              
Short-Term Debt [Line Items]              
Debt Instrument, Face Amount   $ 27,000          
Debt Instrument, Interest Rate, Stated Percentage   3.75% 6.50%        
Maturity term   5 years          
Basis spread   3.11%          
Net Proceeds $ 20,000            
Early Repayment of Subordinated Debt     $ 7,700        
Subordinated Debt           $ 26,800 $ 26,700
Debt Conversion, Downstream of Capital         $ 3,500    
v3.26.1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS    
Carrying value of equity securities without readily determinable fair values $ 600,000 $ 600,000
Upward price adjustment to the carrying value of equity securities without readily determinable fair values 0 0
Downward price adjustments to the carrying value of equity securities without readily determinable fair values 0 $ 0
Restricted common stock carrying Value $ 0  
v3.26.1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS - Schedule of assets and liability measured and recorded on the Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value $ 176,228 $ 155,620
Trading securities 7,253  
U.S. Agency    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 4,790 4,666
U.S. Agency mortgage-backed securities    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 110,856 91,534
Municipal    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 9,934 8,363
Corporate bonds    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 50,648 51,057
Fair value, recurring    
Disclosures about Fair Value Measurements and Financial Instruments    
Equity securities 183 350
Interest rate swap asset $ 2,614 $ 4,657
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Other Assets
Interest rate swap liability $ (2,639) $ (4,691)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities Other Liabilities
Interest rate hedge $ (118) $ (169)
Hedged Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities Other Liabilities
Risk participation agreement $ (303) $ (207)
Fair value, recurring | U.S. Agency    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 4,790 4,666
Fair value, recurring | U.S. Agency mortgage-backed securities    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 110,856 91,534
Fair value, recurring | Municipal    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 9,934 8,363
Trading securities 3,852  
Fair value, recurring | Corporate bonds    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 50,648 51,057
Fair value, recurring | U.S. Treasury    
Disclosures about Fair Value Measurements and Financial Instruments    
Trading securities 3,401  
Fair value, recurring | Level 1    
Disclosures about Fair Value Measurements and Financial Instruments    
Equity securities 183 350
Interest rate swap asset 0 0
Interest rate swap liability 0 0
Interest rate hedge 0 0
Risk participation agreement 0 0
Fair value, recurring | Level 1 | U.S. Agency    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 0
Fair value, recurring | Level 1 | U.S. Agency mortgage-backed securities    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 0
Fair value, recurring | Level 1 | Municipal    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 0
Trading securities 0  
Fair value, recurring | Level 1 | Corporate bonds    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 363
Fair value, recurring | Level 1 | U.S. Treasury    
Disclosures about Fair Value Measurements and Financial Instruments    
Trading securities 0  
Fair value, recurring | Level 2    
Disclosures about Fair Value Measurements and Financial Instruments    
Equity securities 0 0
Interest rate swap asset 2,614 4,657
Interest rate swap liability (2,639) (4,691)
Interest rate hedge (118) (169)
Risk participation agreement (303) (207)
Fair value, recurring | Level 2 | U.S. Agency    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 4,790 4,666
Fair value, recurring | Level 2 | U.S. Agency mortgage-backed securities    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 110,856 91,534
Fair value, recurring | Level 2 | Municipal    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 9,934 8,363
Trading securities 3,852  
Fair value, recurring | Level 2 | Corporate bonds    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 50,648 50,021
Fair value, recurring | Level 2 | U.S. Treasury    
Disclosures about Fair Value Measurements and Financial Instruments    
Trading securities 3,401  
Fair value, recurring | Level 3    
Disclosures about Fair Value Measurements and Financial Instruments    
Equity securities 0 0
Interest rate swap asset 0 0
Interest rate swap liability 0 0
Interest rate hedge 0 0
Risk participation agreement 0 0
Fair value, recurring | Level 3 | U.S. Agency    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 0
Fair value, recurring | Level 3 | U.S. Agency mortgage-backed securities    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 0
Fair value, recurring | Level 3 | Municipal    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 0
Trading securities 0  
Fair value, recurring | Level 3 | Corporate bonds    
Disclosures about Fair Value Measurements and Financial Instruments    
Available for sale, Fair Value 0 $ 673
Fair value, recurring | Level 3 | U.S. Treasury    
Disclosures about Fair Value Measurements and Financial Instruments    
Trading securities $ 0  
v3.26.1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS - Schedule of assets measured and recorded at fair value on a non-recurring basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Disclosures about Fair Value Measurements and Financial Instruments    
Individually evaluated loan $ 0 $ 0
Other real estate owned and repossessed assets 216 1,724
Fair Value Measurements, Nonrecurring Basis | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Other real estate owned and repossessed assets 216 1,724
Fair Value Measurements, Nonrecurring Basis | Level 1 | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Other real estate owned and repossessed assets 0 0
Fair Value Measurements, Nonrecurring Basis | Level 2 | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Other real estate owned and repossessed assets 0 0
Fair Value Measurements, Nonrecurring Basis | Level 3 | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Other real estate owned and repossessed assets $ 216 $ 1,724
Fair Value Measurements, Nonrecurring Basis | Level 3 | Minimum | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Appraisal adjustments 29.00% 18.00%
Fair Value Measurements, Nonrecurring Basis | Level 3 | Minimum | Other real estate owned and repossessed assets | Measurement Input, Liquidation expenses    
Disclosures about Fair Value Measurements and Financial Instruments    
Liquidation expenses 0.00% 0.00%
Fair Value Measurements, Nonrecurring Basis | Level 3 | Maximum | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Appraisal adjustments 59.00% 63.00%
Fair Value Measurements, Nonrecurring Basis | Level 3 | Maximum | Other real estate owned and repossessed assets | Measurement Input, Liquidation expenses    
Disclosures about Fair Value Measurements and Financial Instruments    
Liquidation expenses 30.00% 33.00%
Fair Value Measurements, Nonrecurring Basis | Level 3 | Weighted Average | Other real estate owned and repossessed assets    
Disclosures about Fair Value Measurements and Financial Instruments    
Appraisal adjustments 45.00% 24.00%
Fair Value Measurements, Nonrecurring Basis | Level 3 | Weighted Average | Other real estate owned and repossessed assets | Measurement Input, Liquidation expenses    
Disclosures about Fair Value Measurements and Financial Instruments    
Liquidation expenses 11.00% 4.00%
v3.26.1
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
FINANCIAL ASSETS:    
Investment securities - HTM, Carrying Value $ 72,256 $ 63,837
Loans held for sale, Carrying Value 241 460
Loans, net of allowance for credit losses and unearned income, Carrying Value 1,019,599 1,054,037
Investment securities - HTM, Fair Value 68,916 58,471
Loans held for sale, Fair Value 244 470
Loans, net of allowance for credit losses and unearned income, Fair Value 1,010,336 990,745
FINANCIAL LIABILITIES:    
Deposits with stated maturities, Carrying Value 377,747 336,312
All other borrowings, Carrying Value 71,382 82,784
Deposits with stated maturities, Fair Value 377,938 336,167
All other borrowings, Fair Value 71,382 81,476
Level 1    
FINANCIAL ASSETS:    
Loans held for sale, Fair Value 244 470
Level 2    
FINANCIAL ASSETS:    
Investment securities - HTM, Fair Value 67,936 57,535
Level 3    
FINANCIAL ASSETS:    
Investment securities - HTM, Fair Value 980 936
Loans, net of allowance for credit losses and unearned income, Fair Value 1,010,336 990,745
FINANCIAL LIABILITIES:    
Deposits with stated maturities, Fair Value 377,938 336,167
All other borrowings, Fair Value $ 71,382 $ 81,476
v3.26.1
INCOME TAXES (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
INCOME TAXES                    
Current                 $ 192 $ 832
Deferred                 992 (34)
Income tax expense $ 236 $ 540 $ (70) $ 478 $ 187 $ 237 $ (109) $ 483 $ 1,184 $ 798
v3.26.1
INCOME TAXES - Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
AMOUNT                    
Income tax expense based on federal statutory rate                 $ 1,427 $ 924
Tax exempt income                 (310) (247)
Other                 67 121
Income tax expense $ 236 $ 540 $ (70) $ 478 $ 187 $ 237 $ (109) $ 483 $ 1,184 $ 798
Tax Jurisdiction of Domicile [Extensible Enumeration]                 country:US country:US
RATE                    
Income tax expense based on federal statutory rate                 21.00% 21.00%
Tax exempt income                 (4.60%) (5.60%)
Other                 1.00% 2.70%
Total expense for income taxes                 17.40% 18.10%
v3.26.1
INCOME TAXES - Deferred tax assets and liabilities (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
DEFERRED TAX ASSETS:    
Allowance for credit losses - loans $ 2,757,000 $ 2,922,000
Allowance for credit losses - securities 19,000 94,000
Allowance for credit losses - unfunded commitments 71,000 203,000
Unrealized investment security losses 2,088,000 3,544,000
Premises and equipment 765,000 912,000
Lease liabilities 825,000 895,000
Net operating loss 448,000 469,000
Interest rate hedges 25,000 36,000
Other 157,000 173,000
Total tax assets 7,155,000 9,248,000
DEFERRED TAX LIABILITIES:    
Investment accretion (161,000) (129,000)
Lease right-of-use assets (735,000) (815,000)
Accrued pension obligation (7,591,000) (6,602,000)
Other (304,000) (290,000)
Total tax liabilities (8,791,000) (7,836,000)
Net deferred tax (liability) asset (1,636,000)  
Net deferred tax (liability) asset   1,412,000
Valuation Allowance 0 $ 0
Unrecognized tax benefits $ 0  
v3.26.1
EMPLOYEE BENEFIT PLANS - Changes in obligations and assets (Details) - Pension Plan - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
CHANGE IN BENEFIT OBLIGATION:    
Benefit obligation at beginning of year $ 31,228 $ 34,819
Service cost 715 832
Interest cost 1,527 1,562
Actuarial loss (gain) 307 (532)
Settlements   (4,521)
Benefits paid (2,758) (932)
Benefit obligation at end of year 31,019 31,228
CHANGE IN PLAN ASSETS:    
Fair value of plan assets at beginning of year 62,617 59,335
Actual return on plan assets 7,699 8,735
Settlements   (4,521)
Benefits paid (2,758) (932)
Fair value of plan assets at end of year 67,558 62,617
Funded status of the plan $ 36,539 $ 31,389
v3.26.1
EMPLOYEE BENEFIT PLANS - Amounts not recognized as components of net periodic pension cost (Details) - Pension Plan - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Amounts recognized in accumulated other comprehensive loss consists of:    
Net actuarial (gain) loss $ (1,197) $ 2,045
Total $ (1,197) $ 2,045
v3.26.1
EMPLOYEE BENEFIT PLANS - Accumulated benefit obligation (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Pension Plan    
Defined Benefit Plan Disclosure [Line Items]    
Accumulated benefit obligation $ 29,194 $ 29,215
v3.26.1
EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used to determine benefit obligations (Details)
Dec. 31, 2025
Dec. 31, 2024
WEIGHTED AVERAGE ASSUMPTIONS:    
Discount rate 5.30% 5.58%
Ages 25-34    
WEIGHTED AVERAGE ASSUMPTIONS:    
Salary scale 5.00% 5.00%
Ages 35-44    
WEIGHTED AVERAGE ASSUMPTIONS:    
Salary scale 4.00% 4.00%
Ages 45-54    
WEIGHTED AVERAGE ASSUMPTIONS:    
Salary scale 3.00% 3.00%
Ages 55+    
WEIGHTED AVERAGE ASSUMPTIONS:    
Salary scale 2.50% 2.50%
v3.26.1
EMPLOYEE BENEFIT PLANS - Component of net periodic pension benefit (Details) - Pension Plan - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
COMPONENTS OF NET PERIODIC PENSION BENEFIT:    
Service cost $ 715,000 $ 832,000
Interest cost 1,527,000 1,562,000
Expected return on plan assets (4,150,000) (4,157,000)
Settlement charge 0 471,000
Net periodic pension benefit $ (1,908,000) $ (1,292,000)
v3.26.1
EMPLOYEE BENEFIT PLANS - Changes in plan assets and benefit obligations (Details) - Pension Plan - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME    
Net gain $ (3,242) $ (5,110)
Recognized loss   (471)
Total recognized in other comprehensive income before tax effect (3,242) (5,581)
Total recognized in net periodic pension benefit and other comprehensive income before tax effect $ (5,150) $ (6,873)
v3.26.1
EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used to determine net periodic benefit cost (Details) - Pension Plan
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
WEIGHTED AVERAGE ASSUMPTIONS:    
Discount rate 5.59% 5.12%
Expected return on plan assets 7.00% 7.00%
Ages 25-34    
WEIGHTED AVERAGE ASSUMPTIONS:    
Rate of compensation increase 5.00% 5.00%
Ages 35-44    
WEIGHTED AVERAGE ASSUMPTIONS:    
Rate of compensation increase 4.00% 4.00%
Ages 45-54    
WEIGHTED AVERAGE ASSUMPTIONS:    
Rate of compensation increase 3.00% 3.00%
Ages 55+    
WEIGHTED AVERAGE ASSUMPTIONS:    
Rate of compensation increase 2.50% 2.50%
v3.26.1
EMPLOYEE BENEFIT PLANS - Asset allocation (Details) - Pension Plan
Dec. 31, 2025
Dec. 31, 2024
ASSET CATEGORY:    
Asset allocations 100.00% 100.00%
Cash and cash equivalents    
ASSET CATEGORY:    
Asset allocations 3.50% 1.40%
Fixed income    
ASSET CATEGORY:    
Asset allocations 43.90% 35.10%
Equity    
ASSET CATEGORY:    
Asset allocations 52.60% 63.50%
v3.26.1
EMPLOYEE BENEFIT PLANS - Segregation of assets by the level of valuations inputs (Details) - Pension Plan - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Defined Benefit Plan, Plan Assets, Amount $ 67,558 $ 62,617 $ 59,335
Cash and cash equivalents | Fair Value, Inputs, Level 1 [Member]      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Defined Benefit Plan, Plan Assets, Amount 2,384 878  
Fixed income | Fair Value, Inputs, Level 1 [Member]      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Defined Benefit Plan, Plan Assets, Amount 29,627 22,003  
Equity | Fair Value, Inputs, Level 1 [Member]      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Defined Benefit Plan, Plan Assets, Amount $ 35,547 $ 39,736  
v3.26.1
EMPLOYEE BENEFIT PLANS - Estimated future benefit payments (Details) - Pension Plan
$ in Thousands
Dec. 31, 2025
USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2026 $ 4,663
2027 4,022
2028 3,356
2029 2,943
2030 2,693
Years 2031-2035 $ 12,178
v3.26.1
EMPLOYEE BENEFIT PLANS - Additional information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Y
Dec. 31, 2024
USD ($)
Dec. 31, 2014
Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]        
Minimum number of annual hours 1,000      
Maximum percent of plan assets comprised of AmeriServ Financial, Inc. common stock 4.00%      
Percentage gain combined from other sources 0.99%      
Defined contribution plan, employer matching contribution, percent of match 2.00%     6.00%
Defined contribution plan maximum annual contribution per union employee percent 4.00%      
Non-elective contribution by employer for non union employees       4.00%
Non-elective contribution by employer for union employees     4.00%  
Defined contribution plan, cost $ 1,000,000 $ 982,000    
Defined Contribution Plan assets in common stocks $ 534,000 390,000    
Period of investment performance 20 years      
Other expense        
Defined Benefit Plan Disclosure [Line Items]        
Deferred compensation plan expense $ 9,000 19,000    
Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Defined contribution plan, employer matching contribution, percent of match     4.00%  
Employer matching 1.00%     3.00%
Other liabilities        
Defined Benefit Plan Disclosure [Line Items]        
Deferred compensation liability $ 183,000 350,000    
Equity securities | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 60.00%      
Equity securities | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 0.00%      
Corporate bonds        
Defined Benefit Plan Disclosure [Line Items]        
Plan assets of the company's common stock $ 2,400,000 1,800,000    
Cash and cash equivalents | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 100.00%      
Cash and cash equivalents | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 0.00%      
Debt securities | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 100.00%      
Debt securities | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 0.00%      
Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Requisite service period 5 years      
Number of consecutive calendar years | Y 5      
Period of employment 10 years      
Maximum percent of plan assets comprised of AmeriServ Financial, Inc. common stock 4.00%      
Settlement charge $ 0 $ 471,000    
Defined benefit plan percent of assets comprised of entity common stock 3.60% 2.80%    
Defined benefit plan, expected future employer contributions, next fiscal year $ 0      
Pension Plan | Other assets        
Defined Benefit Plan Disclosure [Line Items]        
Assets for pension benefits $ 36,100,000 $ 31,400,000    
v3.26.1
COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
COMMITMENTS AND CONTINGENT LIABILITIES    
Provision for credit losses expense (recovery) on unfunded commitments $ (629,000) $ 26,000
Off-Balance-Sheet, credit loss liabilities 337,000 966,000
Commitments to Extend Credit    
COMMITMENTS AND CONTINGENT LIABILITIES    
Amount of commitment 239,900,000 233,200,000
Standby Letters of Credit    
COMMITMENTS AND CONTINGENT LIABILITIES    
Amount of commitment 8,800,000 8,700,000
Standby letters of credit $ 5,500,000 $ 6,500,000
Standby Letters of Credit | Minimum    
COMMITMENTS AND CONTINGENT LIABILITIES    
Term of commitment 1 year  
Standby Letters of Credit | Maximum    
COMMITMENTS AND CONTINGENT LIABILITIES    
Term of commitment 5 years  
v3.26.1
STOCK COMPENSATION PLANS (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
SHARES    
Outstanding at beginning of year 194,000 245,000
Granted 0 0
Exercised (3,000)  
Forfeited (25,000) (51,000)
Outstanding at end of year 166,000 194,000
Exercisable at end of year 166,000 194,000
WEIGHTED AVERAGE EXERCISE PRICE    
Outstanding at beginning of year $ 3.72 $ 3.64
Exercised 2.96  
Forfeited 3.38 3.31
Outstanding at end of year 3.79 3.72
Exercisable at end of year $ 3.79 $ 3.72
v3.26.1
STOCK COMPENSATION PLANS - Additional information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2021
Dec. 31, 2023
STOCK COMPENSATION PLANS.        
Stock based compensation $ 0 $ 8,000    
Number of Shares Authorized     600,000  
Expiration Period     10 years  
Purchase Price of Common Stock, Percent     100.00%  
Options Outstanding 166,000 194,000   245,000
Exercise Price Range, Lower Range Limit $ 2.96      
Exercise Price Range, Upper Range Limit 4.22      
Weighted Average Exercise Price $ 3.79      
Weighted Average Remaining Contractual Term 4 years 5 months 12 days      
Grants in Period 0 0    
Intrinsic Value $ 480 $ 0    
Generally options        
STOCK COMPENSATION PLANS.        
Award Vesting Period     3 years  
At times options        
STOCK COMPENSATION PLANS.        
Award Vesting Period     1 year  
Restricted stock        
STOCK COMPENSATION PLANS.        
Restricted stocks granted 0 0    
v3.26.1
ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE LOSS    
Beginning balance $ (15,083) $ (19,976)
Other comprehensive income before reclassifications 7,756 5,064
Amounts reclassified from accumulated other comprehensive loss (22) (171)
Net current period other comprehensive income 7,734 4,893
Ending balance (7,349) (15,083)
NET UNREALIZED GAINS AND LOSSES ON INVESTMENT SECURITIES AFS    
ACCUMULATED OTHER COMPREHENSIVE LOSS    
Beginning balance (13,332) (13,730)
Other comprehensive income before reclassifications 5,478 398
Net current period other comprehensive income 5,478 398
Ending balance (7,854) (13,332)
INTEREST RATE HEDGE    
ACCUMULATED OTHER COMPREHENSIVE LOSS    
Beginning balance (135) (352)
Other comprehensive income before reclassifications 63 760
Amounts reclassified from accumulated other comprehensive loss (22) (543)
Net current period other comprehensive income 41 217
Ending balance (94) (135)
DEFINED BENEFIT PENSION ITEMS    
ACCUMULATED OTHER COMPREHENSIVE LOSS    
Beginning balance (1,616) (5,894)
Other comprehensive income before reclassifications 2,215 3,906
Amounts reclassified from accumulated other comprehensive loss   372
Net current period other comprehensive income 2,215 4,278
Ending balance $ 599 $ (1,616)
v3.26.1
ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassification of component (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
ACCUMULATED OTHER COMPREHENSIVE LOSS                      
Interest expense - Deposits $ 7,229 $ 7,476 $ 7,295 $ 7,091 $ 7,524 $ 7,821 $ 7,635 $ 7,477      
Other expense                 $ 3,012 $ 3,248  
Provision for income taxes 236 540 (70) 478 187 237 (109) 483 1,184 798  
Net income $ 1,442 $ 2,544 $ (282) $ 1,908 $ 889 $ 1,183 $ (375) $ 1,904 5,612 3,601 $ (3,346)
AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS                      
ACCUMULATED OTHER COMPREHENSIVE LOSS                      
Net income                 (22) (171)  
Interest rate hedge | AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS                      
ACCUMULATED OTHER COMPREHENSIVE LOSS                      
Interest expense - Deposits                 (28) (687)  
Provision for income taxes                 6 144  
Net income                 $ (22) (543)  
Amortization of estimated defined benefit pension plan loss | AMOUNT RECLASSIFIED FROM ACCUMULATED OTHER COMPREHENSIVE LOSS                      
ACCUMULATED OTHER COMPREHENSIVE LOSS                      
Other expense                   471  
Provision for income taxes                   (99)  
Net income                   $ 372  
v3.26.1
INTANGIBLE ASSETS (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2021
Goodwill      
Goodwill, Impairment Loss $ 0 $ 0  
Goodwill 13,611,000 13,611,000  
West Chester Capital Advisors      
Goodwill      
Goodwill 2,400,000    
Branch acquisitions      
Goodwill      
Goodwill 11,200,000    
Riverview Bank      
Goodwill      
Core deposit intangible     $ 177,000
Accumulated amortization on core deposit intangible $ 121,000 $ 100,000  
v3.26.1
INTANGIBLE ASSETS - Amortization of intangible (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Roll Forward]    
Balance at beginning of year $ 77  
Amortization 21 $ 24
Balance at end of year 56 77
Riverview Bank    
Finite-Lived Intangible Assets [Roll Forward]    
Balance at beginning of year 77 101
Amortization (21) (24)
Balance at end of year $ 56 $ 77
v3.26.1
INTANGIBLE ASSETS - Future Amortization (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity      
Core Deposit Intangible, Total $ 56 $ 77  
Riverview Bank      
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity      
2026 17    
2027 14    
2028 11    
2029 8    
2030 5    
After five years 1    
Core Deposit Intangible, Total $ 56 $ 77 $ 101
v3.26.1
DERIVATIVE HEDGING INSTRUMENTS (Details) - Swap - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative Financial Instruments, Liabilities    
Derivative Hedging Instruments    
HEDGE TYPE N/A N/A
AGGREGATE NOTIONAL AMOUNT $ (60,778) $ (66,476)
WEIGHTED AVERAGE RATE RECEIVED/(PAID) (6.57%) (7.52%)
REPRICING FREQUENCY Monthly Monthly
INCREASE (DECREASE) IN INTEREST INCOME $ (1,180) $ (1,968)
Derivative Financial Instruments, Assets    
Derivative Hedging Instruments    
HEDGE TYPE N/A N/A
AGGREGATE NOTIONAL AMOUNT $ 60,778 $ 66,476
WEIGHTED AVERAGE RATE RECEIVED/(PAID) 6.57% 7.52%
REPRICING FREQUENCY Monthly Monthly
INCREASE (DECREASE) IN INTEREST INCOME $ 1,180 $ 1,968
v3.26.1
DERIVATIVE HEDGING INSTRUMENTS - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative Hedging Instruments    
Proceeds from fees received $ 13,000 $ 0
Maximum    
Derivative Hedging Instruments    
Notional amount 500,000,000  
Interest Rate Swap | Risk Participation Agreement    
Derivative Hedging Instruments    
Proceeds from fees received 0 0
Notional amount 4,900,000 4,900,000
Interest Rate Hedges    
Derivative Hedging Instruments    
Notional amount 70,000,000 70,000,000
Amount reclassified from accumulated other comprehensive loss 28,000 687,000
Amount reclassified as increase to interest expense $ 104,000  
Derivative term 1 year  
Caps    
Derivative Hedging Instruments    
Notional amount $ 0 $ 0
v3.26.1
DERIVATIVE HEDGING INSTRUMENTS - Cash Flow Hedge (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative Instruments, Gain (Loss)    
Amount Recognized in Other Comprehensive Income (Loss) on Derivative $ 52 $ 275
Amount Reclassified from Accumulated Other Comprehensive Loss (28) (687)
Interest rate hedge    
Derivative Instruments, Gain (Loss)    
Amount Recognized in Other Comprehensive Income (Loss) on Derivative 52 275
Amount Reclassified from Accumulated Other Comprehensive Loss $ (28) $ (687)
v3.26.1
SEGMENT REPORTING (Details)
 12 Months Ended
Dec. 31, 2025
segment
SEGMENT REPORTING  
Number of reportable segments 1
v3.26.1
REGULATORY CAPITAL (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Summarized regulatory capital ratio of company    
Total Capital (To RWA), Actual Amount $ 148,370 $ 143,619
Tier 1 Common Equity (To RWA), Actual Amount 134,815 128,854
Tier 1 Capital (To RWA), Actual Amount 134,815 128,854
Tier 1 Capital (To Average Assets), Actual Amount $ 134,815 $ 128,854
Total Capital (To RWA), Actual Ratio 0.1288 0.1216
Tier 1 Common Equity (To RWA), Actual Ratio 0.117 0.1091
Tier 1 Capital (To RWA), Actual Ratio 0.117 0.1091
Tier 1 Capital (To Average Assets), Actual Ratio 0.0932 0.0915
Total Capital (To RWA), Minimum Required For Capital Adequacy Purposes 0.08 0.08
Tier 1 Common Equity (To RWA), Minimum Required For Capital Adequacy Purposes 0.045 0.045
Tier 1 Capital (To RWA), Minimum Required For Capital Adequacy Purposes 0.06 0.06
Tier 1 Capital (To Average Assets), Minimum Required For Capital Adequacy Purposes 0.04 0.04
Total Capital (To RWA), To Be Well Capitalized Under Prompt Corrective Action Regulations 0.10 0.10
Tier 1 Common Equity (To RWA), To Be Well Capitalized Under Prompt Corrective Action Regulations 0.065 0.065
Tier 1 Capital (To RWA), To Be Well Capitalized Under Prompt Corrective Action Regulations 0.08 0.08
Tier 1 Capital (To Average Assets), To Be Well Capitalized Under Prompt Corrective Action Regulations 0.05 0.05
Parent Company    
Summarized regulatory capital ratio of company    
Total Capital (To RWA), Actual Amount $ 153,316 $ 150,147
Tier 1 Common Equity (To RWA), Actual Amount 112,994 108,643
Tier 1 Capital (To RWA), Actual Amount 112,994 108,643
Tier 1 Capital (To Average Assets), Actual Amount $ 112,994 $ 108,643
Total Capital (To RWA), Actual Ratio 0.133 0.127
Tier 1 Common Equity (To RWA), Actual Ratio 0.098 0.0919
Tier 1 Capital (To RWA), Actual Ratio 0.098 0.0919
Tier 1 Capital (To Average Assets), Actual Ratio 0.0779 0.0768
v3.26.1
PARENT COMPANY FINANCIAL INFORMATION - BALANCE SHEETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
ASSETS      
Cash $ 11,473 $ 13,891  
Cash and cash equivalents 50,891 17,746 $ 14,027
Investment securities available for sale 176,228 155,620  
Other assets 45,221 43,436  
TOTAL ASSETS 1,453,813 1,422,362  
LIABILITIES      
Subordinated debt 26,767 26,726  
Other liabilities 9,428 12,432  
TOTAL LIABILITIES 1,334,501 1,315,114  
SHAREHOLDERS' EQUITY      
Total shareholders' equity 119,312 107,248 102,277
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 1,453,813 1,422,362  
Parent Company      
ASSETS      
Cash 113 10  
Short-term investments 1,521 2,673  
Cash and cash equivalents 1,634 2,683 $ 3,653
Investment securities available for sale 3,787 4,153  
Other assets 470 745  
TOTAL ASSETS 147,343 135,486  
LIABILITIES      
Subordinated debt 26,767 26,726  
Other liabilities 1,264 1,512  
TOTAL LIABILITIES 28,031 28,238  
SHAREHOLDERS' EQUITY      
Total shareholders' equity 119,312 107,248  
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 147,343 135,486  
Parent Company | Banking subsidiary      
ASSETS      
Equity investment $ 141,452 $ 127,905  
v3.26.1
PARENT COMPANY FINANCIAL INFORMATION - STATEMENTS OF OPERATIONS (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
INCOME                      
Interest, dividend and other income $ 18,160 $ 18,483 $ 17,689 $ 17,022 $ 17,063 $ 16,708 $ 16,510 $ 16,224 $ 71,354 $ 66,505  
EXPENSE                      
Interest expense 7,229 7,476 7,295 7,091 7,524 7,821 7,635 7,477      
Salaries and employee benefits                 28,939 28,387  
Other expense                 3,012 3,248  
(LOSS) INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARY 1,678 3,084 (352) 2,386 1,076 1,420 (484) 2,387 6,796 4,399  
Benefit for income taxes 236 540 (70) 478 187 237 (109) 483 1,184 798  
NET INCOME $ 1,442 $ 2,544 $ (282) $ 1,908 $ 889 $ 1,183 $ (375) $ 1,904 5,612 3,601 $ (3,346)
COMPREHENSIVE INCOME                 13,346 8,494  
Parent Company                      
INCOME                      
Interest, dividend and other income                 175 227  
TOTAL INCOME                 5,622 8,472  
EXPENSE                      
Interest expense                 1,065 1,054  
Salaries and employee benefits                 2,893 2,831  
Other expense                 2,777 3,492  
TOTAL EXPENSE                 6,735 7,377  
(LOSS) INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARY                 (1,113) 1,095  
Benefit for income taxes                 (785) (925)  
Equity in undistributed earnings of subsidiaries                 5,940 1,581  
NET INCOME                 5,612 3,601  
COMPREHENSIVE INCOME                 13,346 8,494  
Parent Company | Affiliated Entity                      
INCOME                      
TOTAL INCOME                 2,747 2,745  
Parent Company | Banking subsidiary                      
INCOME                      
Dividends from subsidiaries                 $ 2,700 $ 5,500  
v3.26.1
PARENT COMPANY FINANCIAL INFORMATION - STATEMENTS OF CASH FLOWS (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES                      
Net income $ 1,442 $ 2,544 $ (282) $ 1,908 $ 889 $ 1,183 $ (375) $ 1,904 $ 5,612 $ 3,601 $ (3,346)
Adjustments to reconcile net income to net cash provided by operating activities:                      
Common stock issuable                 691    
Stock compensation expense                   8  
Other - net                 (1,978) (1,933)  
INVESTING ACTIVITIES                      
Purchase of investment securities - available for sale                 (54,649) (16,353)  
FINANCING ACTIVITIES                      
Stock options exercised                 9    
Purchases of treasury stock                   1,511  
Common stock dividends paid                 (1,982) (2,020)  
NET DECREASE IN CASH AND CASH EQUIVALENTS                 33,145 3,719  
CASH AND CASH EQUIVALENTS AT JANUARY 1       17,746       14,027 17,746 14,027  
CASH AND CASH EQUIVALENTS AT DECEMBER 31 50,891       17,746       50,891 17,746 14,027
Parent Company                      
OPERATING ACTIVITIES                      
Net income                 5,612 3,601  
Adjustments to reconcile net income to net cash provided by operating activities:                      
Common stock issuable                 691    
Equity in undistributed earnings of subsidiary                 (5,940) (1,581)  
Stock compensation expense                   8  
Other - net                 36 196  
NET CASH PROVIDED BY OPERATING ACTIVITIES                 399 2,224  
INVESTING ACTIVITIES                      
Purchase of investment securities - available for sale                 (296) (968)  
Proceeds from maturity and sales of investment securities - available for sale                 821 1,305  
NET CASH PROVIDED BY INVESTING ACTIVITIES                 525 337  
FINANCING ACTIVITIES                      
Stock options exercised                 9    
Purchases of treasury stock                 0 (1,511)  
Common stock dividends paid                 (1,982) (2,020)  
NET CASH USED IN FINANCING ACTIVITIES                 (1,973) (3,531)  
NET DECREASE IN CASH AND CASH EQUIVALENTS                 (1,049) (970)  
CASH AND CASH EQUIVALENTS AT JANUARY 1       $ 2,683       $ 3,653 2,683 3,653  
CASH AND CASH EQUIVALENTS AT DECEMBER 31 $ 1,634       $ 2,683       $ 1,634 $ 2,683 $ 3,653
v3.26.1
PARENT COMPANY FINANCIAL INFORMATION - Additional information (Details)
Dec. 31, 2025
USD ($)
PARENT COMPANY FINANCIAL INFORMATION  
Restricted surplus and retained earnings $ 141,569,000
v3.26.1
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited)                      
Interest income $ 18,160 $ 18,483 $ 17,689 $ 17,022 $ 17,063 $ 16,708 $ 16,510 $ 16,224 $ 71,354 $ 66,505  
Interest expense 7,229 7,476 7,295 7,091 7,524 7,821 7,635 7,477      
Net interest income 10,931 11,007 10,394 9,931 9,539 8,887 8,875 8,747      
Provision (recovery) for credit losses 724 360 3,133 (97) 1,058 (51) 434 (557) 4,120 884  
Net interest income after provision (recovery) for credit losses 10,207 10,647 7,261 10,028 8,481 8,938 8,441 9,304 38,143 35,164  
Non-interest income 4,371 4,401 4,096 4,121 4,453 4,203 4,372 4,947 16,989 17,975  
Non-interest expense 12,900 11,964 11,709 11,763 11,858 11,721 13,297 11,864 48,336 48,740  
Income (loss) before income taxes 1,678 3,084 (352) 2,386 1,076 1,420 (484) 2,387 6,796 4,399  
Provision for income taxes 236 540 (70) 478 187 237 (109) 483 1,184 798  
Net income $ 1,442 $ 2,544 $ (282) $ 1,908 $ 889 $ 1,183 $ (375) $ 1,904 $ 5,612 $ 3,601 $ (3,346)
Basic earnings per common share $ 0.09 $ 0.15 $ (0.02) $ 0.12 $ 0.05 $ 0.07 $ (0.02) $ 0.11 $ 0.34 $ 0.21  
Diluted earnings per common share 0.09 0.15 (0.02) 0.12 0.05 0.07 (0.02) 0.11 0.34 0.21  
Cash dividends declared per common share $ 0.03 $ 0.03 $ 0.03 $ 0.03 $ 0.03 $ 0.03 $ 0.03 $ 0.03 $ 0.12 $ 0.12