Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2025	Mar. 02, 2026	Jun. 30, 2025
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Document Transition Report	false
Entity File Number	000-50275
Entity Registrant Name	BCB BANCORP, INC.
Entity Incorporation State Country Code	NJ
Entity Tax Identification Number	26-0065262
Entity Address Address Line 1	104-110 Avenue C
Entity Address City Or Town	Bayonne
Entity Address State Or Province	NJ
Entity Address Postal Zip Code	07002
City Area Code	800
Local Phone Number	680-6872
Security 12b Title	Common Stock, no par value
Trading Symbol	BCBP
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	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 131.7
Entity Common Stock Shares Outstanding		17,358,931
Current Fiscal Year End Date	--12-31
Document Financial Statement Error Correction [Flag]	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Entity Central Index Key	0001228454
Amendment Flag	false
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE: (1) Proxy Statement for the 2026 Annual Meeting of Stockholders of the Registrant (Part III)
Auditor Name	Wolf & Company, P.C
Auditor Location	Boston, Massachusetts
Auditor Firm ID	392

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
ASSETS
Cash and amounts due from depository institutions	$ 13,794	$ 14,075
Interest-earning deposits	262,790	303,207
Total cash and cash equivalents	276,584	317,282
Interest-earning time deposits	735	735
Debt securities available for sale, at fair value (amortized cost of $129,646)	126,395	101,717
Equity investments, at fair value (amortized cost of $108,590)	9,172	9,472
Loans receivable, net of allowance for credit losses of $33,691 and $34,789, respectively	2,691,091	2,996,259
Federal Home Loan Bank of New York stock, at cost	14,176	24,272
Premises and equipment, net	12,056	12,569
Accrued interest receivable	13,834	15,176
Other real estate owned	5,000
Deferred income taxes	22,209	17,181
Goodwill and other intangibles	5,253	5,253
Operating lease right-of-use assets	10,660	12,686
Bank-owned life insurance ("BOLI")	79,366	76,040
Other assets	12,935	10,476
Total Assets	3,279,466	3,599,118
LIABILITIES
Non-interest-bearing deposits	531,140	520,387
Interest bearing deposits	2,142,433	2,230,471
Total deposits	2,673,573	2,750,858
FHLB Advances	235,000	455,361
Subordinated debentures	43,210	42,961
Operating lease liability	11,140	13,139
Other liabilities	12,259	12,874
Total Liabilities	2,975,182	3,275,193
COMMITMENTS AND CONTINGENCIES - SEE NOTE 17
STOCKHOLDERS' EQUITY
Preferred stock: $0.01 par value, 10,000,000 shares authorized; issued and outstanding 2,548 shares of Series J 8.0% and Series K 6.0% (liquidation value $10,000 per share) noncumulative perpetual preferred stock at December 31, 2025 and 2,496 shares of Series J 8.0% and Series K 6.0% (liquidation value $10,000 per share) noncumulative perpetual preferred stock at December 31, 2024
Additional paid-in capital preferred stock	25,243	24,723
Common stock: no par value; 40,000,000 shares authorized, issued 20,508,183 and 20,296,748 at December 31, 2025 and December 31, 2024, respectively, outstanding 17,274,212 shares and 17,062,777 shares, at December 31, 2025 and December 31, 2024, respectively
Additional paid-in capital common stock	203,429	200,935
Retained earnings	116,415	141,853
Accumulated other comprehensive loss	(2,456)	(5,239)
Treasury stock, at cost, 3,233,971 and 3,233,971 shares at December 31, 2025 and December 31, 2024, respectively	(38,347)	(38,347)
Total Stockholders' Equity	304,284	323,925
Total Liabilities and Stockholders' Equity	$ 3,279,466	$ 3,599,118

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Debt securities, amortized cost	$ 129,646	$ 108,590
Equity investments, amortized cost	108,590
Loans receivable, net of allowance for credit losses	$ 33,691	$ 34,789
Preferred stock, par value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	2,548	2,496
Common stock, no par value	$ 0	$ 0
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	20,508,183	20,296,748
Common stock, shares outstanding	17,274,212	17,062,777
Treasury stock, shares	3,233,971	3,233,971
Series J Preferred Stock [Member]
Preferred stock, shares issued	2,548	2,496
Preferred stock, shares outstanding	2,548	2,496
Preferred stock, dividend rate	8.00%	8.00%
Series K Preferred Stock [Member]
Preferred stock, par value per share		$ 0.01
Preferred stock, dividend rate	6.00%	6.00%
Preferred stock, liquidation preference per share	$ 10,000	$ 10,000

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Interest and dividend income:
Loans, including fees	$ 154,199,000	$ 172,046,000	$ 169,559,000
Mortgage-backed securities	2,941,000	1,378,000	880,000
Other investment securities	4,053,000	3,953,000	4,226,000
FHLB stock dividends and other interest-earning assets	11,766,000	16,632,000	13,695,000
Total interest and dividend income	172,959,000	194,009,000	188,360,000
Deposits:
Demand	21,806,000	22,158,000	16,915,000
Savings and club	814,000	620,000	620,000
Certificates of deposit	38,502,000	55,442,000	39,157,000
Total deposits	61,122,000	78,220,000	56,692,000
Borrowings	18,796,000	23,768,000	27,606,000
Total interest expense	79,918,000	101,988,000	84,298,000
Net interest income	93,041,000	92,021,000	104,062,000
Provision for credit losses	42,011,000	11,570,000	6,104,000
Net interest income after provision for credit losses	51,030,000	80,451,000	97,958,000
Non-interest income:
Fees and service charges	4,962,000	4,717,000	5,334,000
BOLI income	3,326,000	2,633,000	1,751,000
(Loss) gain on sales of loans	29,000	(5,325,000)	36,000
Gain on sales of other real estate owned			77,000
Realized and unrealized (loss) gain on equity investments	(300,000)	379,000	(3,361,000)
Other	538,000	536,000	251,000
Total non-interest income	8,555,000	2,940,000	4,088,000
Non-interest expense:
Salaries and employee benefits	31,400,000	28,229,000	30,827,000
Occupancy and equipment	10,404,000	10,247,000	10,340,000
Data processing service fees	7,919,000	6,960,000	6,968,000
Professional fees	3,093,000	2,416,000	2,735,000
Director fees	1,351,000	1,151,000	1,083,000
Regulatory assessments	3,287,000	3,530,000	3,585,000
Advertising and promotional	1,125,000	863,000	1,348,000
Other real estate owned, net	15,077,000		7,000
Other	4,227,000	3,725,000	3,698,000
Total non-interest expense	77,883,000	57,121,000	60,591,000
(Loss) Income before income tax (benefit) provision	(18,298,000)	26,270,000	41,455,000
Income tax (benefit) provision	(5,771,000)	7,647,000	11,972,000
Net (Loss) Income	(12,527,000)	18,623,000	29,483,000
Preferred stock dividends	1,929,000	1,832,000	702,000
Net (Loss) Income available to common stockholders	$ (14,456,000)	$ 16,791,000	$ 28,781,000
Net (Loss) Income per common share-basic and diluted
Basic	$ (0.84)	$ 0.99	$ 1.71
Diluted	$ (0.84)	$ 0.99	$ 1.70
Weighted average number of common shares outstanding
Basic	17,186	17,007	16,870
Diluted	17,186	17,018	16,932

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Consolidated Statements of Comprehensive (Loss) Income [Abstract]
Net (Loss) Income	$ (12,527)	$ 18,623	$ 29,483
Available-for-sale debt securities:
Unrealized holding gains (losses) arising during the period	3,623	2,507	(1,493)
Tax effects	(892)	(618)	355
Benefit Plans:
Actuarial gain	74	519	131
Income tax (expense) benefit	(22)	(156)	7
Net-of-tax amount	52	363	138
Total other comprehensive income (loss)	2,783	2,252	(1,000)
Comprehensive (loss) income	$ (9,744)	$ 20,875	$ 28,483

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Additional Paid-In Capital [Member] Adjusted Balance [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member] Effect of Adopting ASU No. 2016-13 ("CECL") [Member]	Retained Earnings [Member] Adjusted Balance [Member]	Retained Earnings [Member]	Treasury Stock [Member] Adjusted Balance [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member] Adjusted Balance [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Effect of Adopting ASU No. 2016-13 ("CECL") [Member]	Adjusted Balance [Member]	Total
Beginning balance at Dec. 31, 2022	$ 217,167	$ 217,167	$ 2,870	$ 117,979	$ 115,109	$ (34,531)	$ (34,531)	$ (6,491)	$ (6,491)	$ 2,870	$ 294,124	$ 291,254
Net (loss) income					29,483							29,483
Other comprehensive income (loss)									(1,000)			(1,000)
Redemption of Preferred Stock		(11,230)										(11,230)
Issuance of Preferred Stock		15,270										15,270
Exercise of stock options		418										418
Stock-based compensation expense		593										593
Dividends payable on noncumulative perpetual preferred stock					(702)							(702)
Cash dividends on common stock (per share declared)					(10,440)							(10,440)
Dividend Reinvestment Plan		393			(393)
Stock Purchase Plan		1,355										1,355
Treasury Stock Purchases							(3,816)					(3,816)
Ending balance at Dec. 31, 2023		223,966			135,927		(38,347)		(7,491)			314,055
Net (loss) income					18,623							18,623
Other comprehensive income (loss)									2,252			2,252
Redemption of Preferred Stock		(10,010)										(10,010)
Issuance of Preferred Stock		9,690										9,690
Stock-based compensation expense		767										767
Dividends payable on noncumulative perpetual preferred stock					(1,833)							(1,833)
Cash dividends on common stock (per share declared)					(10,443)							(10,443)
Dividend Reinvestment Plan		421			(421)
Stock Purchase Plan		824										824
Ending balance at Dec. 31, 2024		225,658			141,853		(38,347)		(5,239)			323,925
Net (loss) income					(12,527)							(12,527)
Other comprehensive income (loss)									2,783			2,783
Issuance of Preferred Stock		520										520
Stock-based compensation expense		1,016										1,016
Dividends payable on noncumulative perpetual preferred stock					(1,929)							(1,929)
Cash dividends on common stock (per share declared)					(10,625)							(10,625)
Dividend Reinvestment Plan		358			(357)							1
Stock Purchase Plan		1,120										1,120
Ending balance at Dec. 31, 2025		$ 228,672			$ 116,415		$ (38,347)		$ (2,456)			$ 304,284

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Exercise of stock options (shares)			53,731
Treasury stock purchases (shares)			266,753
Cash dividends on common stock (per share)	$ 0.64	$ 0.64	$ 0.64
Series H Preferred Stock [Member]
Preferred stock, dividend rate			3.50%
Series I Preferred Stock [Member]
Preferred stock, dividend rate		3.00%	3.00%
Series J Preferred Stock [Member]
Preferred stock, dividend rate	8.00%	8.00%	8.00%
Series K Preferred Stock [Member]
Preferred stock, dividend rate	6.00%	6.00%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash Flows from Operating Activities:
Net (loss) income	$ (12,527)	$ 18,623	$ 29,483
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation of premises and equipment	1,560	1,713	1,978
Amortization and accretion, net	(592)	(1,464)	(2,533)
Provision for credit losses	42,011	11,570	6,104
Deferred income tax (benefit) expense	(5,942)	258	(2,537)
Loans originated for sale	(1,693)	(4,874)	(2,964)
Proceeds from sale of loans	1,722	40,096	2,371
Gain (loss) on sales of loans	(29)	5,325	(36)
OREO valuation allowance	15,077
Gain on sales of fixed asset		(4)
Realized and unrealized loss (gain) on equity investments	300	(379)	3,361
Gain from sales of other real estate owned			(77)
Increase in cash surrender value of BOLI	(3,326)	(2,633)	(1,751)
Stock-based compensation expense	1,016	767	593
Net change in accrued interest receivable	1,342	896	(2,617)
Net change in other assets	(2,459)	(48)	(890)
Net change in accrued interest payable	(1,139)	(582)	2,704
Net change in other liabilities	598	(1,537)	1,969
Net Cash Provided by Operating Activities	35,919	67,727	35,158
Cash flows from Investing Activities:
Proceeds from repayments, calls, and maturities on securities	41,242	3,769	14,745
Purchases of securities	(62,333)	(15,224)	(12,498)
Proceeds from sales of securities			5,232
Proceeds from sales of premises		4
Proceeds from sales of other real estate owned			152
Proceeds from sale of loans held in portfolio		6,127
Net decrease (increase) in loans receivable	244,423	228,676	(231,622)
Additions to premises and equipment	(1,047)	(1,225)	(4,527)
Redemption (purchase) of Federal Home Loan Bank of New York stock	10,096	645	(4,804)
Net Cash Provided by (Used In) Investing Activities	232,381	222,772	(233,322)
Cash flows from financing activities:
Net (decrease) increase in deposits	(77,285)	(228,222)	167,473
Proceeds from Federal Home Loan Bank of New York Long Term Advances			400,000
Repayments Federal Home Loan Bank of New York Long Term Advances	(220,800)	(18,000)	(150,000)
Net change in Federal Home Loan Bank of New York Short Term Advances			(160,000)
Purchase of treasury stock			(3,816)
Cash dividends paid on common stock	(10,625)	(10,443)	(10,440)
Cash dividends paid on preferred stock	(1,928)	(1,833)	(702)
Net proceeds from issuance of common stock	1,120	824	1,355
Net proceeds from issuance of preferred stock	520	9,690	15,270
Payments for redemption of preferred stock		(10,010)	(11,230)
Net proceeds from issuance of subordinated debt		38,754
Net payment from redemption of subordinated debt		(33,500)
Exercise of stock options			418
Net Cash (Used in) Provided by Financing Activities	(308,998)	(252,740)	248,328
Net (Decrease) Increase in Cash and Cash Equivalents	(40,698)	37,759	50,164
Cash and Cash Equivalents-Beginning	317,282	279,523	229,359
Cash and Cash Equivalents-Ending	276,584	317,282	279,523
Supplementary Cash Flow Information
Cash paid for income taxes, net of refunds	1,801	6,879	18,027
Cash paid for interest	81,058	$ 102,570	$ 81,594
Non-Cash Investing and Financing Activities
Loans transferred to Other Real Estate Owned	$ 20,077

Organization

12 Months Ended

Dec. 31, 2025

Organization [Abstract]

Organization

Note 1 - Organization

BCB Bancorp, Inc. (the “Company”) is incorporated in the State of New Jersey and is a bank holding company. The common stock of the Company is listed on the NASDAQ Global Market and trades under the symbol “BCBP”.

The Company’s primary business is the ownership and operation of BCB Community Bank (the “Bank”). The Bank is a New Jersey based commercial bank which, as of December 31, 2025, operated at 27 locations in Bayonne, Edison, Fairfield, Hoboken, Holmdel, Jersey City, Lyndhurst, Maplewood, Monroe Township, Newark, Parsippany, Plainsboro, South Orange, River Edge, Rutherford, Union, and Woodbridge New Jersey, as well as Staten Island and Hicksville, New York and is subject to regulation, supervision, and examination by the New Jersey Department of Banking and Insurance and the Federal Deposit Insurance Corporation. The Bank is principally engaged in the business of attracting deposits from the general public and using these deposits, together with borrowed funds, to invest in securities and to make loans collateralized by residential and commercial real estate and, to a lesser extent, business and consumer loans. BCB Holding Company Investment Corp. (the “New Jersey Investment Company”) was organized in January 2005 under New Jersey law as a New Jersey investment company primarily to hold investment and mortgage-backed securities. As a part of the merger with IA Bancorp, Inc., the Company acquired Special Asset REO 1, LLC and Special Asset REO 2, LLC. The Bank changed the name of Special Asset REO 1, LLC to BCB Capital Finance Group, LLC in November 2023. Special Asset REO 2, LLC had one foreclosed property at December 31, 2025, totaling $5.0 million.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 - Summary of Significant Accounting Policies

Basis of Consolidated Financial Statement Presentation

The consolidated financial statements which include the accounts of the Company and its wholly-owned subsidiaries, the Bank, the New Jersey Investment Company, BCB Capital Finance Group LLC, and Special Asset REO 2, LLC have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany accounts and transactions have been eliminated in consolidation.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the years then ended. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses and a determination as to possible impairment of goodwill. Management believes that the allowance for credit losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance for credit losses may be necessary based on changes in economic conditions in the market area. Management performed a quantitative assessment of goodwill and determined there was no impairment as of December 31, 2025.

In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for credit losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

In preparing these consolidated financial statements, the Company evaluated the events that occurred between December 31, 2025, and the date these consolidated financial statements were issued.

Cash and Cash Equivalents

Cash and cash equivalents include cash and amounts due from depository institutions and interest-earning deposits in other banks having original maturities of three months or less.
‎

Note 2 - Summary of Significant Accounting Policies (continued)

Debt Securities

Investments in debt securities that the Bank has the positive intent and ability to hold to maturity are classified as held-to-maturity securities and reported at amortized cost. Debt securities that are bought and held principally for the purpose of selling them in the near-term are classified as trading securities and reported at fair value, with unrealized holding gains and losses included in earnings. Debt securities not classified as trading securities or as held-to-maturity securities are classified as available-for-sale securities (“AFS”) and reported at fair value, with unrealized holding gains or losses, net of applicable deferred income taxes, reported in the accumulated other comprehensive income (loss) component of stockholders’ equity. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. There were no debt securities classified as held-to-maturity on December 31, 2025 and 2024.

For debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more than 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 securities available-for-sale that do not meet the above 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 and adverse conditions related to the security, among other factors. If this assessment 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 the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of tax. The Company elected the practical expedient of zero loss estimates for securities issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major agencies, and have a long history of no credit losses.

Discounts on securities are amortized/accreted to maturity using the interest method. Premiums on securities are amortized to maturity or the earliest call date for callable securities using the interest method. Interest and dividend income on securities, which includes amortization of premiums and accretion of discounts, are recognized in the consolidated financial statements when earned.

Loans Held For Sale

Loans held for sale consist primarily of residential mortgage loans intended for sale and are carried at the lower of cost or estimated fair market value using the aggregate method. These loans are generally sold with servicing rights released. Gains and losses recognized on loan sales are based upon the cash proceeds received and the amortized cost of the related loans sold.

Loans Receivable

Loans receivable are stated at unpaid principal balances, less net deferred loan origination fees and the allowance for credit losses. Loan origination fees and certain direct loan origination costs are deferred and amortized/accreted, as an adjustment of yield, over the contractual lives of the related loans.

Generally, the accrual of interest on loans that are contractually delinquent more than ninety days is discontinued and the related loans are placed on nonaccrual status. All payments received while in nonaccrual status, are applied to principal until the loan has performed as expected for a minimum of six (6) months or until the loan is determined to qualify for return to normal accruing status. Loans may be returned to accrual status when all the principal and interest contractually due are brought current and future payments are reasonably assured.

Concentration of Risk

Financial instruments which potentially subject the Company and its subsidiaries to concentrations of credit risk consist of cash and cash equivalents, investment and mortgage-backed securities and loans.

Cash and cash equivalents include amounts placed with highly rated financial institutions. Securities include securities backed by the U.S. Government and other highly rated instruments. The Bank’s lending activity is primarily concentrated in loans collateralized by real estate in the State of New Jersey and the New York metropolitan area as a result, credit risk related to loans is broadly dependent on the real estate market and general economic conditions in the area.

‎

Note 2 - Summary of Significant Accounting Policies (continued)

Allowance for Credit losses

The allowance for credit losses represents the estimated amount considered necessary to cover lifetime expected credit losses inherent in financial assets at the balance sheet date. The measurement of expected credit losses is applicable to loans receivable and securities measured at amortized cost. It also applies to off-balance sheet credit exposures such as loan commitments and unused lines of credit. The allowance is established through a provision for credit losses that is charged against income. The methodology for determining the allowance for credit losses is considered a critical accounting policy by management because of the high degree of judgment involved, the subjectivity of the assumptions used, and the potential for changes in the forecasted economic environment that could result in changes to the amount of the recorded allowance for credit losses. The allowance for credit losses on loans is reported separately as a contra-asset on the consolidated statements of financial condition. The expected credit loss for unfunded lending commitments and unfunded loan commitments is reported on the consolidated statements of financial condition in other liabilities while the provision for credit losses related to unfunded commitments is reported in other non-interest expense.

Allowance for Credit Losses on Loans Receivable

The allowance for credit losses on loans is deducted from the amortized cost basis of the loan to present the net amount expected to be collected. Expected losses are evaluated and calculated on a collective, or pooled, basis for those loans which share similar risk characteristics. If the loan does not share risk characteristics with other loans, the Company will evaluate the loan on an individual basis. Individually evaluated loans are primarily nonaccrual and collateral dependent loans. Furthermore, the Company evaluates the pooling methodology at least annually to ensure that loans with similar risk characteristics are pooled appropriately. Loans are charged off against the allowance for credit losses when the Company believes the balances to be uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged off or expected to be charged off.

The Company has chosen to segment its portfolio consistent with the manner in which it manages credit risk. The Company calculates estimated credit losses for these loan segments using quantitative models and qualitative factors. Further information on loan segmentation and the credit loss estimation is included in Note 5 – Loans Receivable and Allowance for Credit Losses.

Individually Evaluated Loans

On a case-by-case basis, the Company may conclude that a loan should be evaluated on an individual basis based on its disparate risk characteristics. When the Company determines that a loan no longer shares similar risk characteristics with other loans in the portfolio, the allowance will be determined on an individual basis using the present value of expected cash flows or, for collateral-dependent loans, the fair value of the collateral as of the reporting date, less estimated selling costs, as applicable. If the fair value of the collateral is less than the amortized cost basis of the loan, the Company will charge off the difference between the fair value of the collateral, less costs to sell at the reporting date and the amortized cost basis of the loan.

Allowance for Credit Losses on Off-Balance Sheet Commitments

The Company is required to include unfunded commitments that are expected to be funded in the future within the allowance calculation, other than those that are unconditionally cancelable. To arrive at that reserve, the reserve percentage for each applicable segment is applied to the unused portion of the expected commitment balance and is multiplied by the expected funding rate. As noted above, the allowance for credit losses on unfunded loan commitments is included in other liabilities on the consolidated statements of financial condition and the related credit expense is recorded in other non-interest expense in the consolidated statements of operations.

Allowance for Credit Losses on Available-for-Sale Securities

For available-for-sale securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more than 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 securities available-for-sale that do not meet the above 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 and adverse conditions related to the security, among other factors. If this assessment 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 the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of tax. The Company elected the practical expedient of zero loss estimates for securities issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major agencies, and have a long history of no credit losses.

Accrued Interest Receivable

The Company made an accounting policy election to exclude accrued interest receivable from the amortized cost basis of loans and available-for-sale securities. Accrued interest receivable on loans and securities is reported as a component of accrued interest receivable on the consolidated statements of financial condition.

Premises and Equipment

Land is carried at cost. Buildings, building improvements, leasehold improvements and furniture, fixtures and equipment are carried at cost less accumulated depreciation and amortization. Significant renovations and additions are charged to the property and equipment account. Maintenance and repairs are charged to expense in the period incurred. Depreciation charges are computed on the straight-line method over the following estimated useful lives of each type of asset.



	Buildings		40
	Building improvements		7 - 40
	Furniture, fixtures and equipment		5 - 7
	Leasehold improvements		Shorter of useful life or term of lease

Note 2 - Summary of Significant Accounting Policies (continued)

Federal Home Loan Bank of New York Stock

Federal law requires a member institution of the FHLB system to purchase and hold restricted stock of its district FHLB according to a predetermined formula. Such stock is carried at cost. The Company reviews for impairment based on the ultimate recoverability of the cost basis of the stock. No impairment charges were recorded related to the FHLB of New York stock during 2025, 2024 or 2023.

Other Real Estate Owned

Assets acquired through, or in lieu of, loan foreclosures are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Costs relating to development and improvement of property are capitalized, whereas costs relating to the holding of property are expensed. At December 31, 2025, the Bank owned one foreclosed property totaling $5.0 million. At December 31, 2024, the Bank owned no foreclosed properties.

Interest Rate Risk

The Bank is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other funds, to make loans primarily secured by real estate and to purchase securities. The potential for interest-rate risk exists as a result of the difference in duration of the Bank’s interest-sensitive liabilities compared to its interest-sensitive assets. For this reason, management regularly monitors the maturity structure of the Bank’s interest-earning assets and interest-bearing liabilities in order to measure its level of interest-rate risk and to plan for future volatility.

Fair Value Hierarchy

Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

Mortgage Servicing Rights

The Company recognizes as separate assets the rights to service mortgage loans for others. The right to service loans for others is generally obtained through the sale of loans with servicing retained. The initial asset recognized for originated mortgage servicing rights (“MSR”) is measured at fair value. The estimated fair value of MSR is obtained through independent third-party valuations through an analysis of future cash flows, incorporating assumptions market participants would use in determining fair value including market discount rates, prepayment speeds, servicing income, servicing costs, default rates and other market driven data, including the market’s perception of future interest rate movements. MSR are amortized in proportion to and over the period of estimated net servicing income. We apply the amortization method for measurements of our MSR. MSR are assessed for impairment based on fair value at each reporting date. MSR impairment, if any, is recognized in a valuation allowance through charges to earnings as a component of fees and service charges. Subsequent increases in the fair value of impaired MSR are recognized only up to the amount of the previously recognized valuation allowance. Fees earned for servicing loans are reported as income when the related mortgage loan payments are collected.

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.

Bank-Owned Life Insurance

Bank-Owned Life Insurance policies are reflected on the consolidated statements of financial condition at cash surrender value. Changes in the net cash surrender value of the policies, as well as insurance proceeds received in excess of carrying value, are reflected in non-interest income on the consolidated statements of operations and are not subject to income taxes.

Goodwill and Other Intangible Assets

Goodwill resulting from a business combination is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired as of the acquisition date. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized but tested for impairment at least annually.

The Company conducts impairment analysis on goodwill at least annuallyor more often as conditions require. The Company reported a net loss in the first quarter of 2025 and observed a sustained decline in its stock price. Under ASC 350-20-35-30, management considered this a triggering event and performed an interim impairment assessment of goodwill as of May 31, 2025. The results of the analysis determined that there was no impairment needed.

As a result of the net loss for the year ending December 31, 2025, the Company conducted a quantitative assessment of goodwill as of December 31, 2025, and determined that it was more likely than not that goodwill was not impaired. Accordingly, there was no impairment at December 31, 2025. Refer to the Critical Accounting Estimates for additional details.

Note 2 – Summary of Significant Accounting Policies (continued)

Income Taxes

The Company and its subsidiaries file a consolidated federal income tax return. Income taxes are allocated to the Company and its subsidiaries based upon their respective income or loss included in the consolidated income tax return. Separate state income tax returns are filed by the Company and its subsidiaries.

Federal and state income tax expense has been provided on the basis of reported income. The amounts reflected on the tax returns differ from these provisions due principally to temporary differences in the reporting of certain items for financial reporting and income tax reporting purposes. The tax effect of these temporary differences is accounted for as deferred taxes applicable to future periods. Deferred income tax expense or (benefit) is determined by recognizing deferred tax assets and liabilities for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. The realization of deferred tax assets is assessed and a valuation allowance provided, when necessary, for that portion of the asset which is not more likely than not to be realized.

The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements in accordance with ASC Topic 740, Income Taxes, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more likely than not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, which would give rise to the non-recognition of an existing tax benefit. The Company recognizes interest and penalties on unrecognized tax benefits in income taxes expense in the consolidated statements of operations. The Company did not recognize any interest and penalties for the years ended December 31, 2025, 2024, or 2023. The tax years subject to examination by the Federal taxing authority are the years ended December 31, 2024, 2023, and 2022. The tax years subject to examination by the State taxing authorities are the years ended December 31, 2024, 2023, and 2022.

Rollforward of Shares Outstanding of Common and Preferred Stock

The Company maintains various classes of equity securities. Common stock is issued without par value. Preferred stock has a par value of $0.01 per share; however, because the par value is not meaningful to the amounts involved, the Company presents only share counts in the rollforward below. Share activity includes issuances under share-based compensation plans, dividend reinvestment plan (“DRIP”) issuances, and repurchases of common stock under authorized programs. The following tables summarize changes in shares outstanding for each class of stock for the periods presented.


	For the Year Ended December 31,
	2025	2024	2023
Common Stock (shares)
Beginning Shares	17,062,777	16,904,323	16,930,979
Shares Issued - stock options	-	167	53,731
Shares Issued - DRIP	169,762	108,287	77,797
Restricted Stock Grants	43,773	50,000	108,569
Restricted Stock Forfeitures	(2,100)	-	-
Treasury Stock Purchased	-	-	(266,753)
Ending Shares	17,274,212	17,062,777	16,904,323

	For the Year Ended December 31,
	2025	2024	2023
Preferred Stock (shares)
Beginning Shares	2,496	2,528	2,124
Shares Issued - Series J	-	472	1,527
Shares Issued - Series K	52	497	-
Shares Redeemed - Series H	-	-	(1,123)
Shares Redeemed - Series I	-	(1,001)	-
Ending Shares	2,548	2,496	2,528

‎

Note 2 – Summary of Significant Accounting Policies (continued)

Net Income per Common Share

Basic net income per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the years ended December 31, 2025, 2024, and 2023 the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options. No adjustments to net income were necessary in calculating basic and diluted net income per share. For the years ended December 31, 2025, 2024, and 2023, the Company had 876,000, 436,000 and 6,476 shares considered to be anti-dilutive, respectively.



	For the Year Ended December 31,
	2025					2024					2023
		Net Income	Shares		Per Share		Net Income	Shares		Per Share		Net Income	Shares		Per Share
		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, Except per share data)
Net (loss) income	$	(12,527)				$	18,623				$	29,483
Basic earnings per share-
(Loss) Income available to
Common stockholders	$	(14,456)	17,186	$	(0.84)	$	16,791	17,007	$	0.99	$	28,781	16,870	$	1.71
Effect of dilutive securities:
Stock options			-					11					62
Diluted earnings per share-
Income available to
Common stockholders	$	(14,456)	17,186	$	(0.84)	$	16,791	17,018	$	0.99	$	28,781	16,932	$	1.70

Stock-Based Compensation Plans

The Company, under plans approved by its stockholders in 2023, 2018, and 2011, has granted stock options to employees and outside directors. See Note 12 for additional information as to option grants. Compensation expense recognized for option grants is net of estimated forfeitures and is recognized over the awards’ respective requisite service periods. The fair values relating to options granted are estimated using a Black-Scholes option pricing model. Expected volatilities are based on historical volatility of the Company’s stock and other factors, such as implied market volatility using the respective options’ expected term. The Company used the mid-point of the original vesting period and original option life to estimate the options’ expected term, which represents the period of time that the options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Company recognizes compensation expense for the fair values of option awards, which have graded vesting, on a straight-line basis.

‎

Note 2 – Summary of Significant Accounting Policies (continued)

Benefit Plans

The Company acquired, through the merger with Pamrapo Bancorp, Inc., a non-contributory defined benefit pension plan covering all eligible employees of Pamrapo Savings Bank. Effective January 1, 2010, the defined benefit pension plan (the “Pension Plan”), was frozen by Pamrapo Savings Bank. All benefits for eligible participants accrued in the Pension Plan to January 1, 2010, have been retained. The benefits are based on years of service and employee’s compensation. The Pension Plan is funded in conformity with funding requirements of applicable government regulations. Prior service costs for the Pension Plan generally are amortized over the estimated remaining service periods of employees.

The Bank entered into a Supplemental Executive Retirement Agreement (the “SERP Agreement”) with its previous Chief Executive Officer (“the CEO”) in December 2021. The SERP Agreement provides the CEO with supplemental retirement income payable in the form of a life annuity. The monthly benefit payment is $10,000 and payments commenced in February 2025. The amount charged to expense follows the vesting schedule in the SERP Agreement and was $95,000, $45,000, and $350,000 during the years ended December 31, 2025, 2024 and 2023, respectively.

Operating Segments

The Company operates as a single reportable segment under ASC 280, as the Chief Operating Decision Maker (CODM) reviews financial performance and allocates resources based on the consolidated results of the Company as a whole. The Company, through its bank subsidiary, provides banking services to individuals and companies primarily in New Jersey and New York. These services include commercial lending, residential lending, and consumer lending, checking, savings and time deposits, and cash management. The CODM primarily evaluates performance using net interest income and net income as reported in the consolidated statement of operations. The Company’s primary measure of profitability is net interest income, which represents interest earned on loans and investment securities, net of interest expense on deposits and borrowings. In addition, the CODM considers net income as a key measure of overall financial performance. The Company’s CODM is the President & Chief Executive Officer.

Other performance indicators regularly reviewed by management include:

Net Interest Margin (NIM) – Measures the profitability of interest-earning assets.

Return on Assets (ROA) and Return on Equity (ROE) – Evaluates efficiency and shareholder returns.

Efficiency Ratio – Assesses cost management by comparing non-interest expense to total revenue.

Comprehensive Income (Loss)

The Company records unrealized gains and losses, net of deferred income taxes, on securities available-for-sale in accumulated other comprehensive income (loss). Realized gains and losses, if any, are reclassified to non-interest income upon sale of the related securities or upon the recognition of an impairment loss. Accumulated other comprehensive income (loss) also includes benefit plan amounts recognized in accordance with ASC 715, Compensation-Retirement Benefits, which reflect, net of tax, the unrecognized actuarial gains (losses) on the benefit plans.

Reclassification

During the year ended December 31, 2025, the Company revised the presentation of certain loan portfolio categories to better reflect the nature and risk characteristics of the underlying loans. Prior-period amounts have been reclassified to conform to the current-period presentation. These reclassifications had no impact on total loans, the Company’s consolidated results of operations or financial position.

Recent Accounting Pronouncements

In November 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-08, Financial Instruments- Credit Losses (Topic 326): Purchased Loans. The amendment expands the gross-up approach to certain acquired loans defined as “purchased seasoned loans” (PSLs). For PSLs the allowance for credit losses is recognized at acquisition as an adjustment to amortized cost, eliminating Day-1 provision expense. The amendments are expected to enhance comparability and simplify application for institutions acquiring loan portfolios. The update is effective for annual periods beginning after December 15, 2026. Early adoption is permitted. The Company does not anticipate adoption having an impact on the consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures. The ASU is intended to enhance the transparency of income tax disclosures, primarily related to the rate reconciliation and income taxes paid information. The amendments in this ASU require a tabular reconciliation using both percentages and reporting currency amounts, with prescribed categories and separate disclosure of reconciling items with an effect equal to 5% or more of the amount determined by multiplying pretax income (or loss) from continuing operations by the applicable statutory income tax rate; a qualitative description of the states and local jurisdictions that make up the majority (greater than 50%) of the effect of the state and local income taxes; and the amount of income taxes paid, net of refunds received, disaggregated by federal, state, and foreign taxes and by individual jurisdictions when 5% or more of total income taxes paid, net of refunds received. The ASU also includes other amendments to improve the effectiveness of income tax disclosures. The update is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The transition method is prospective with retrospective method permitted. The adoption of ASU 2023-09 did not have an impact on its consolidated financial statements.

Related Party Transactions

12 Months Ended

Dec. 31, 2025

Related Party Transactions

Note 3 - Related Party Transactions

The Bank leases a property from New Bay, LLC. (“New Bay”), a limited liability company 100 percent owned by Directors of the Bank and the Company. In conjunction with the lease, New Bay substantially removed the pre-existing structure on the site and constructed a new building suitable to the Bank for its banking operations. Under the terms of the lease, the cost of this project was reimbursed to New Bay by the Bank. The amount reimbursed, which occurred during the year 2000, was $943,000, and is included in premises and equipment under the caption “Building and improvements” (see Note 6). On May 1, 2006, the Bank renegotiated the lease to a twenty-five-year term. The Bank paid New Bay $165,000 a year ($13,750 per month) which is included in the consolidated statements of operations for 2025, 2024 and 2023, within occupancy expense. The rent is to be adjusted every five years thereafter at the fair market rental value. The Bank expects to pay $165,000 in rental expense for the year 2026.

On March 6, 2014, the Bank entered into a ten-year lease of property in Rutherford, New Jersey with 190 Park Avenue, LLC, which is owned by Directors of the Bank and the Company. The rent is $9,227 per month and lease payments of $123,000, $117,000 and $105,000 were made in years 2025, 2024 and 2023, which are reflected in the consolidated statements of operations within occupancy expense. The Bank expects to pay $113,000 in rental expense for the year 2026. This was renewed in April 2024 for 10 years.

On August 3, 2018, the Bank entered into a ten-year lease of property in River Edge, New Jersey with 876 Kinderkamack, LLC, which is owned by Directors of the Bank and the Company. The rent is $9,090 per month and lease payments of $110,000, $99,000 and $97,000 were made in the years 2025, 2024 and 2023, which are reflected in the consolidated statements of operations within occupancy expense. The Bank expects to pay $110,000 in rental expense for the year 2026.

On April 2, 2021, the Bank renewed a five-year lease of property in Lyndhurst, New Jersey with 734 Ridge Realty, LLC, which is owned by Directors of the Bank and the Company. The rent is $7,718 per month and lease payments of $93,000, $93,000 and $93,000 were made in years 2025, 2024 and 2023, which are reflected in the consolidated statements of operations within occupancy expense. The Bank expects to pay $97,000 in rental expense for the year 2026.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 5
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 2
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 220
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Securities

12 Months Ended

Dec. 31, 2025

Securities [Abstract]

Securities

Note 4- Securities

Equity Securities

Equity securities are reported at fair value on the Company’s consolidated statements of financial condition. The Company’s portfolio of equity securities had an estimated fair value of $9.2 million and $9.5 million as of December 31, 2025 and December 31, 2024, respectively. Included in this category are equity holdings of financial institutions. Equity securities are defined to include (a) preferred, common and other ownership interests in entities including partnerships, joint ventures and limited liability companies and (b) rights to acquire or dispose of ownership interest in entities at fixed or determinable prices.

Equity securities are generally required to be measured at fair value with market value adjustments being reflected in net income.

The following table presents the disaggregated net gains and losses on equity securities reported in the consolidated statements of operations (In Thousands):


		For the Twelve Months Ended December 31, 2025		For the Twelve Months Ended December 31, 2024		For the Twelve Months Ended December 31, 2023
Net (losses) gains recognized during the period on equity securities	$	(300)	$	379	$	(3,361)
Less: Net losses recognized during the period on equity securities sold during the period		-		-		(24)
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date	$	(300)	$	379	$	(3,337)

Debt Securities Available-for-Sale

The following table sets forth information regarding the amortized cost, estimated fair values, and unrealized gains and losses for the Bank’s debt securities portfolio at December 31 by final contractual maturity. The following table does not take into consideration the effects of scheduled repayments or the effects of possible prepayments. Certain securities have interest rates that are adjustable and will reprice annually within the various maturity ranges. The effect of these repricings are not reflected in the table below.


	December 31, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential Mortgage-backed securities:
More than one to five years	$	754	$	-	$	23	$	731
More than five to ten years		1,787		-		64		1,723
More than ten years		74,040		591		2,599		72,032
Sub-total:		76,581		591		2,686		74,486

Corporate Debt Securities:
More than one to five years		15,791		99		194		15,696
More than five to ten years		32,274		135		1,209		31,200
More than ten years		5,000		13		-		5,013
Sub-total:		53,065		247		1,403		51,909

Total Debt Securities Available-for-Sale	$	129,646	$	838	$	4,089	$	126,395

Note 4- Securities (continued)


	December 31, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential Mortgage-backed securities
More than one to five years	$	1,286	$	-	$	57	$	1,229
More than five to ten years		2,395		-		135		2,260
More than ten years		45,345		188		3,508		42,025
Sub-total:		49,026		188		3,700		45,514

Corporate Debt Securities:
More than one to five years		37,488		-		1,081		36,407
More than five to ten years		22,076		-		2,280		19,796
Sub-total:		59,564		-		3,361		56,203

Total Debt Securities Available-for-Sale	$	108,590	$	188	$	7,061	$	101,717

The unrealized losses, categorized by the length of time of continuous loss position, and fair value of related securities available-for-sale were as follows:


	Less than 12 Months				More than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In Thousands)
December 31, 2025
Residential mortgage-backed securities	$	10,908	$	37	$	27,036	$	2,649	$	37,944	$	2,686
Corporate Debt Securities		-		-		30,859		1,403		30,859		1,403
	$	10,908	$	37	$	57,895	$	4,052	$	68,803	$	4,089

December 31, 2024
Residential mortgage-backed securities	$	10,558	$	127	$	24,673	$	3,573	$	35,231	$	3,700
Corporate Debt Securities		2,985		19		51,918		3,342		54,903		3,361
	$	13,543	$	146	$	76,591	$	6,915	$	90,134	$	7,061

At December 31, 2025, thirty-one residential mortgaged-backed securities and twelve corporate debt securities have unrealized losses with aggregate depreciation of 7% and 4%, respectively.

At December 31, 2024, thirty-four residential mortgaged-backed securities and twenty corporate debt securities have unrealized losses with aggregate depreciation of 10% and 6%, respectively.

Loans Receivable and Allowance for Credit Losses

12 Months Ended

Dec. 31, 2025

Loans Receivable and Allowance for Credit Losses [Abstract]

Loans Receivable and Allowance for Credit Losses

Note 5 - Loans Receivable and Allowance for Credit Losses

The following table presents the recorded investment in loans receivable at December 31, 2025 and December 31, 2024 by segment and class:



	December 31, 2025		December 31, 2024
	(In Thousands)
Loans:
Residential one-to-four family	$	226,708	$	239,870
Commercial and multi-family ⁽¹⁾		2,040,768		2,155,929
Cannabis related ⁽²⁾		69,293		103,206
Construction ⁽¹⁾		68,521		130,589
Commercial business ^{(1) (3)}		168,459		242,239
Business express		74,862		92,947
Home equity ⁽⁴⁾		74,332		66,769
Consumer		3,580		2,235
Total Loans		2,726,523		3,033,784
Less:
Deferred loan fees, net		(1,741)		(2,736)
Allowance for credit losses		(33,691)		(34,789)
		(35,432)		(37,525)
Total Loans, net	$	2,691,091	$	2,996,259

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The Company occasionally transfers a portion of its originated commercial loans to participating lending partners. The amounts transferred have been accounted for as sales and are therefore not included in the Company’s accompanying consolidated statements of financial condition. The Company and its lending partners share proportionally in any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. The Company continues to service the loans, collects cash payments from the borrowers, remits payments (net of servicing fees), and disburses required escrow funds to relevant parties.

At December 31, 2025 and 2024, loans serviced by the Bank for the benefit of others totaled $103.6 million and $116.5 million, respectively.

Related-Party Loans

The Bank grants loans to its officers and directors and to their affiliates. The activity with respect to loans to directors, officers and affiliates of such persons, is as follows:



	Years Ended December 31,
		2025		2024
	(In Thousands)
Balance - beginning	$	26,505	$	28,208
Loans originated		-		-
Changes in related party status		(57)		-
Collections of principal		(551)		(1,703)
Balance - ending	$	25,897	$	26,505

‎

Note 5- Loans Receivable and Allowance for Credit Losses (continued)

Allowance for Credit losses

The Company engages a third-party vendor to assist in the CECL calculation and has established a robust internal governance framework to oversee the quarterly estimation process for the allowance for credit losses (“ACL”). The ACL calculation methodology relies on regression-based discounted cash flow (“DCF”) models that correlate relationships between certain financial metrics and external market and macroeconomic variables. The following are some of the key factors and assumptions that are used in the Company’s CECL calculations:

methods based on probability of default and loss given default which are modeled based on macroeconomic scenarios;

a reasonable and supportable forecast period determined based on management’s current review of macroeconomic environment;

a reversion period after the reasonable and supportable forecast period;

estimated prepayment rates based on the Company’s historical experience and future macroeconomic environment;

estimated credit utilization rates based on the Company’s historical experience and future macroeconomic environment; and

incorporation of qualitative factors not captured within the modeled results. The qualitative factors include but are not limited to changes in lending policies, business conditions, changes in the nature and size of the portfolio, portfolio concentrations, and external factors such as competition.

Allowance for credit losses are aggregated for the major loan segments, with similar risk characteristics, summarized below. However, for the purposes of calculating the reserves, these segments may be further broken down into loan classes by risk characteristics that include but are not limited to regulatory call codes, industry type, geographic location, and collateral type.

Residential one-to-four family real estate loans involve certain risks such as interest rate risk and risk of non-repayment. Adjustable-rate residential real estate loans decrease the interest rate risk to the Bank that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying properties may be adversely affected by higher interest rates. Repayment risk may be affected by a number of factors including, but not necessarily limited to, job loss, divorce, illness and personal bankruptcy of the borrower.

Commercial and multi-family real estate lending entails additional risks as compared with residential family property lending. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for commercial real estate as well as general economic conditions.

Cannabis related loans include commercial and multi-family, construction, and commercial business loans to borrowers involved in the cannabis industry and have the risks inherent in such loan types discussed herein. In addition, while medical use cannabis and recreational use businesses are legal in numerous states, including our primary markets of New Jersey and New York, such businesses are not legal at the federal level and marijuana remains a Schedule I drug under the Controlled Substances Act of 1970. Federal prosecutors have significant discretion and there can be no assurance that the federal prosecutors will not choose to strictly enforce the federal laws governing cannabis. Any change in the federal government’s enforcement position could potentially subject our borrowers to criminal prosecution and other sanctions, which would have a material adverse effect on their businesses.

Construction lending is generally considered to involve a high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of the general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Bank than construction loans to individuals on their personal residence.

Commercial business lending, including lines of credit, is generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business. Commercial business loans are primarily secured by inventories and other business assets. In many cases, any repossessed collateral for a defaulted commercial business loan will not provide an adequate source of repayment of the outstanding loan balance. The Bank has further segregated its commercial business portfolio into commercial business express loans that carry higher risk relative to other commercial business loans. The Bank had originated commercial business express loans to support small business owners coming out of the COVID crisis. The portfolio consists of a large number of loans with majority of the loans carrying a balance of $250,000 or lower.

Home equity lending entails certain risks such as interest rate risk and risk of non-repayment. The marketability of the underlying property may be adversely affected by higher interest rates, decreasing the collateral value securing the loan. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy of the borrower. Home equity line of credit lending entails securing an equity interest in the borrower’s home. In many cases, the Bank’s position in these loans is as a junior lien holder to another institution’s superior lien. This type of lending is often priced on an adjustable-rate basis with the rate set at or above a predefined index. Adjustable-rate loans decrease the interest rate risk to the Bank that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default.

Other consumer loans generally have more credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. Consumer loans generally have shorter terms and higher interest rates than other lending. In addition, consumer lending collections are dependent on the borrower’s continuing financial stability and thus are more likely to be adversely affected by job loss, divorce, illness and personal bankruptcy. In many cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan.

Note 5- Loans Receivable and Allowance for Credit Losses (continued)

The following tables set forth the activity in the Bank’s allowance for credit losses and recorded investment in loans receivable at December 31, 2025, December 31, 2024 and December 31, 2023. The table also details the amount of total loans receivable, which are evaluated individually and collectively, for credit losses, and the related portion of the allowance for credit losses that is allocated to each loan class (In Thousands):


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business⁽¹⁾ ⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2025	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Charge-offs		-		(419)		(13,520)		-		(19,457)		(11,328)		-		-		(44,724)
Recoveries		75		-		-		-		7		1,533		-		-		1,615
Provision (benefit)		(246)		2,025		13,384		(1,234)		15,629		12,416		38		(1)		42,011
Ending Balance, December 31, 2025	$	1,776	$	12,057	$	1,477	$	668	$	6,676	$	10,390	$	632	$	15	$	33,691

Ending Balance attributable to loans:
Individually evaluated	$	-	$	2,657	$	-	$	-	$	2,938	$	998	$	-	$	-	$	6,593
Collectively evaluated		1,776		9,400		1,477		668		3,738		9,392		632		15		27,098
Ending Balance, December 31, 2025	$	1,776	$	12,057	$	1,477	$	668	$	6,676	$	10,390	$	632	$	15	$	33,691

Loans Receivable:
Individually evaluated	$	1,392	$	130,581	$	-	$	18,888	$	10,073	$	998	$	294	$	-	$	162,226
Collectively evaluated		225,316		1,910,187		69,293		49,633		158,386		73,864		74,038		3,580		2,564,297
Total Gross Loans, December 31, 2025	$	226,708	$	2,040,768	$	69,293	$	68,521	$	168,459	$	74,862	$	74,332	$	3,580	$	2,726,523

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The decrease in the allowance for credit losses on loans during the year ended December 31, 2025 was primarily due to a decrease in reserves on individually evaluated loans offset by an increase in reserves on collectively evaluated business express loans.

‎

Note 5- Loans Receivable and Allowance for Credit Losses (continued)


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business^{(1) (3)}		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2024	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	33,608

Charge-offs		-		(531)		-		-		(1,799)		(8,038)		-		(467)		(10,835)
Recoveries		48		-		-		-		371		27		-		-		446
Provision (benefit)		(445)		(4,361)		(731)		(1,856)		7,417		11,238		(97)		405		11,570
Ending Balance, December 31, 2024	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Ending Balance attributable to loans:
Individually evaluated	$	-	$	1,473	$	-	$	-	$	4,725	$	5,619	$	-	$	-	$	11,817
Collectively evaluated		1,947		8,978		1,613		1,902		5,772		2,150		594		16		22,972
Ending Balance, December 31, 2024	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Loans Receivable:
Individually evaluated	$	853	$	64,735	$	-	$	586	$	11,163	$	5,619	$	443	$	-	$	83,399
Collectively evaluated		239,017		2,091,194		103,206		130,003		231,076		87,328		66,326		2,235		2,950,385
Total Gross Loans, December 31, 2024	$	239,870	$	2,155,929	$	103,206	$	130,589	$	242,239	$	92,947	$	66,769	$	2,235	$	3,033,784

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾ ⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Unallocated		Total
Allowance for credit losses:
Ending Balance, December 31, 2022		2,474		21,381		402		2,073		4,482		872		485		24		180		32,373
Effect of adopting ASU No. 2016-13 ("CECL")		144		(6,953)		(145)		1,369		1,727		(316)		182		7		(180)		(4,165)
Beginning Balance, January 1, 2023	$	2,618	$	14,428	$	257	$	3,442	$	6,209	$	556	$	667	$	31	$	-	$	28,208

Charge-offs:		-		-		-		-		-		(805)		-		-		-		(805)
Recoveries:		45		-		-		-		29		11		16		-		-		101
Provision (benefit):		(319)		915		2,087		316		(1,730)		4,780		8		47		-		6,104
Ending Balance, December 31, 2023	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	-	$	33,608

Ending Balance attributable to loans:
Individually evaluated	$	-	$	990	$	1,157	$	310	$	975	$	797	$	-	$	-	$	-	$	4,229
Collectively evaluated		2,344		14,353		1,187		3,448		3,533		3,745		691		78		-		29,379
Ending Balance, December 31, 2023	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	-	$	33,608

Loans Receivable:
Individually evaluated	$	444	$	40,417	$	5,342	$	2,898	$	3,909	$	797	$	212	$	-	$	-	$	54,019
Collectively evaluated		247,851		2,299,039		103,619		185,035		255,946		102,131		66,119		3,643		-		3,263,383
Total Gross Loans, December 31, 2023	$	248,295	$	2,339,456	$	108,961	$	187,933	$	259,855	$	102,928	$	66,331	$	3,643	$	-	$	3,317,402

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Note 5- Loans Receivable and Allowance for Credit Losses (continued)

The following table presents the activity in the allowance for credit losses on off-balance sheet exposures for the years ended December 31, 2025, 2024, and 2023.


	Twelve Months Ended December 31,
		2025		2024		2023
	(in Thousands)
Allowance for Credit Losses:
Beginning Balance	$	813	$	694	$	-
Impact of adopting ASU No. 2016-13 ("CECL") effective January 1, 2023		-		-		1,266
Provision (benefit) for credit losses		17		119		(572)
	$	830	$	813	$	694

The tables below set forth the amounts and types of nonaccrual loans in the Bank’s loan portfolio at December 31, 2025 and 2024, respectively. Loans are generally placed on nonaccrual status when they become more than 90 days delinquent, or when the collection of principal and/or interest become doubtful.

As of December 31, 2025, nonaccrual loans differed from the amount of total loans past due greater than 90 days due to loans 90 days past due but still accruing interest or loans that were previously 90 days past due both of which are maintained on nonaccrual status for a minimum of six months until the borrower has demonstrated their ability to satisfy the terms of the loan.


	As of December 31, 2025
	(in Thousands)
		Nonaccrual loans with an Allowance for Credit Losses		Nonaccrual loans without an Allowance for Credit Losses		Total Nonaccrual loans		Amortized Cost of Loans Past Due 90 Days and Still Accruing
Residential one-to-four family	$	-	$	1,554	$	1,554	$	-
Commercial and multi-family ⁽¹⁾		2,500		49,659		52,159		-
Cannabis related ⁽²⁾		-		-		-		-
Construction ⁽¹⁾		-		4,897		4,897		-
Commercial business ⁽¹⁾ ⁽³⁾		1,660		2,065		3,725		-
Business express		626		-		626		-
Home equity ⁽⁴⁾		-		294		294		-
Total	$	4,786	$	58,469	$	63,255	$	-

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	As of December 31, 2024
	(in Thousands)
		Nonaccrual loans with an Allowance for Credit Losses		Nonaccrual loans without an Allowance for Credit Losses		Total Nonaccrual loans		Amortized Cost of Loans Past Due 90 Days and Still Accruing
Residential one-to-four family	$	534	$	853	$	1,387	$	-
Commercial and multi-family ⁽¹⁾		4,823		28,151		32,974		6,049
Cannabis related ⁽²⁾		-		-		-		-
Construction ⁽¹⁾		-		586		586		-
Commercial business ⁽¹⁾ ⁽³⁾		5,208		2,425		7,633		-
Business express		1,706		191		1,897		1,677
Home equity ⁽⁴⁾		-		231		231		-
Total	$	12,271	$	32,437	$	44,708	$	7,726

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Had nonaccrual loans been performing in accordance with their original terms, the interest income recognized for the years ended December 31, 2025 and 2024 would have been approximately $5.4 million and $5.6 million, respectively. Interest income recognized on loans returned to accrual was approximately $3.9 million and $1.4 million, respectively. The Bank is not committed to lend additional funds to the borrowers whose loans have been placed on a nonaccrual status. At December 31, 2025, there were no loans which were more than ninety days past due and still accruing interest. At December 31, 2024, there were $7.7 million in loans which were more than ninety days past due and still accruing interest.

‎

Note 5- Loans Receivable and Allowance for Credit Losses (continued)

The following table sets forth the delinquency status of total loans receivable at December 31, 2025:


					Greater Than
	30-59 Days		60-90 Days		90 Days		Total Past				Total Loans
	Past Due		Past Due		Past Due		Due		Current		Receivable
		(In Thousands)
Residential one-to-four family	$	4,342	$	279	$	594	$	5,215	$	221,493	$	226,708
Commercial and multi-family ⁽¹⁾		17,600		3,296		51,979		72,875		1,967,893		2,040,768
Cannabis related ⁽²⁾		-		-		-		-		69,293		69,293
Construction ⁽¹⁾		-		-		4,897		4,897		63,624		68,521
Commercial business ⁽¹⁾ ⁽³⁾		8,583		1,041		2,975		12,599		155,860		168,459
Business express		1,961		-		-		1,961		72,901		74,862
Home equity ⁽⁴⁾		1,289		65		231		1,585		72,747		74,332
Consumer		-		-		-		-		3,580		3,580
Total	$	33,775	$	4,681	$	60,676	$	99,132	$	2,627,391	$	2,726,523

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The following table sets forth the delinquency status of total loans receivable at December 31, 2024:



					Greater Than
	30-59 Days		60-90 Days		90 Days		Total Past				Total Loans
	Past Due		Past Due		Past Due		Due		Current		Receivable
		(In Thousands)
Residential one-to-four family	$	3,229	$	-	$	302	$	3,531	$	236,339	$	239,870
Commercial and multi-family ⁽¹⁾		8,279		2,673		30,903		41,855		2,114,074		2,155,929
Cannabis related ⁽²⁾		-		-		-		-		103,206		103,206
Construction ⁽¹⁾		-		1,829		586		2,415		128,174		130,589
Commercial business ⁽¹⁾ ⁽³⁾		9,125		580		3,795		13,500		228,739		242,239
Business express		6,714		3,452		3,141		13,307		79,640		92,947
Home equity ⁽⁴⁾		1,846		18		231		2,095		64,674		66,769
Consumer		-		-		-		-		2,235		2,235
Total	$	29,193	$	8,552	$	38,958	$	76,703	$	2,957,081	$	3,033,784

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Note 5 - Loans Receivable and Allowance for Credit Losses (continued)

Modifications

The following tables show the amortized cost basis of loans modified to borrowers experiencing financial difficulty, disaggregated by loan category and type of concession granted for the twelve months ended December 31, 2025 and 2024.


	For the Twelve Months Ended December 31, 2025
	(In Thousands)
	Number		Payment Delay		Term Extension		Rate & Term Reduction		Total Principal	% of Total Class of Financing Receivable
Residential	1	$	162	$	-	$	-	$	162	0.07	%
Commercial and multi-family	1		-		25,523		-		25,523	1.25
Commercial business	5		-		717		344		1,061	0.63
Business express	97		-		20,008		-		20,008	26.73
	104	$	162	$	46,248	$	344	$	46,754	1.71


	For the Twelve Months Ended December 31, 2024
	(In Thousands)
	Number		Payment Delay		Term Extension		Rate & Term Reduction		Total Principal	% of Total Class of Financing Receivable
Residential	1	$	173	$	-	$	-	$	173	0.07	%
Commercial and multi-family	1		-		-		15,036		15,036	0.67
Commercial business	1		1,294		-		-		1,294	0.52
Business express	276		-		63,299		-		63,299	68.10
	279	$	1,467	$	63,299	$	15,036	$	79,802	2.63

The following tables present loan modifications made during the twelve months ended December 31, 2025 and 2024 by payment status.



	For the Twelve Months Ended December 31, 2025
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total
Residential	$	-	$	-	$	-	$	-	$	162	$	162
Commercial and multi-family		25,523		-		-		-		-		25,523
Commercial business		394		244		-		-		667		1,305
Business express		19,138		-		-		-		626		19,764
	$	45,055	$	244	$	-	$	-	$	1,455	$	46,754


	For the Twelve Months Ended December 31, 2024
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total
Residential	$	-	$	173	$	-	$	-	$	-	$	173
Commercial and multi-family		15,036		-		-		-		-		15,036
Commercial business		-		-		-		-		1,294		1,294
Business express		62,791		74		-		-		434		63,299
	$	77,827	$	247	$	-	$	-	$	1,728	$	79,802

The Company monitors the performance of loans modified to borrowers experiencing financial difficulty to understand the effectiveness of the modification efforts.

For modified loans, a subsequent payment default occurs after management evaluates a borrower’s financial condition subsequent to modification and upon evaluating facts and circumstances determines the borrower is not adhering to the terms of the modification but no later than when a principal or interest payment is 90 days past due or the loan has been classified into non-accrual status during the reporting period.

Of the loans modified during the preceding twelve months, there were eight Business express loans with a combined balance of $2.1 million that subsequently defaulted and were charged-off in full. There was one Commercial business loans with a balances of $246,000 that subsequently defaulted and was charged-off in full.

‎

Note 5 - Loans Receivable and Allowance for Credit Losses (continued)

Criticized and Classified Assets

The Company’s policies provide for a classification system for problem assets. Under this classification system, problem assets are classified as “substandard,” “doubtful,” or “loss.”

When the Company classifies problem assets, the Company may establish general allowances for credit losses in an amount deemed prudent by management. General allowances represent loss allowances which have been established to recognize the inherent risk associated with lending activities, but which, unlike specific allowances, have not been allocated to particular problem assets. A portion of general loss allowances established to cover possible losses related to assets classified as substandard or doubtful may be included in determining our regulatory capital. Specific valuation allowances for credit losses generally do not qualify as regulatory capital. As of December 31, 2025, the Company had $188.9 million in assets classified as substandard, of which $162.2 million were individually evaluated. As of December 31, 2024, the Company had $152.7 million in assets classified as substandard, of which $83.4 million were also individually evaluated. The loans classified as substandard are comprised of unsecured commercial loans, commercial loans secured by commercial real estate, commercial business assets, and residential real estate. The loans that have been classified substandard were classified as such primarily due to payment status, updated financial information has not been timely provided, or the collateral underlying the loan is in the process of being revalued.

The Company’s internal credit risk grades are based on the definitions currently utilized by the banking regulatory agencies. The grades assigned and definitions are as follows, and loans graded excellent, above average, good and watch list (risk ratings 1-5) are treated as “pass” for grading purposes. The “criticized” risk rating (6) and the “classified” risk ratings (7-9) are detailed below:

6 – Special Mention- Loans currently performing but with potential weaknesses including adverse trends in borrower’s operations, credit quality, financial strength, or possible collateral deficiency.

7 – Substandard- Loans that are inadequately protected by current sound worth, paying capacity, and collateral support. Loans on “nonaccrual” status. The loan needs special and corrective attention.

8 – Doubtful- Weaknesses in credit quality and collateral support make full collection improbable, but pending reasonable factors remain sufficient to defer the loss status.

9 – Loss- Continuance as a bankable asset is not warranted. However, this does not preclude future attempts at partial recovery.

Residential, home equity, and consumer loans are rated pass at origination with subsequent adjustments based on delinquency status.

‎

Note 5 - Loans Receivable and Allowance for Credit Losses (continued)

The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of December 31, 2025 and 2024 (In Thousands):


Loans by Year of Origination at December 31, 2025
		2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	10,255	$	11,887	$	15,164	$	43,691	$	33,586	$	107,069	$	-	$	-	$	221,652
Special Mention		-		-		-		1,802		910		790		-		-		3,502
Substandard		-		-		-		-		445		1,109		-		-		1,554
Total one-to-four family	$	10,255	$	11,887	$	15,164	$	45,493	$	34,941	$	108,968	$	-	$	-	$	226,708

Commercial and multi-family ⁽¹⁾
Pass	$	50,098	$	8,293	$	184,486	$	613,331	$	151,205	$	773,732	$	8,760	$	-	$	1,789,905
Special Mention		-		-		-		28,029		11,307		58,141		-		-		97,477
Substandard		-		-		1,633		68,011		18,795		64,807		140		-		153,386
Total Commercial and multi-family	$	50,098	$	8,293	$	186,119	$	709,371	$	181,307	$	896,680	$	8,900	$	-	$	2,040,768

Cannabis related ⁽²⁾
Pass	$	-	$	-	$	-	$	8,385	$	2,067	$	7,958	$	8,050	$	-	$	26,460
Special Mention		-		-		18,981		17,552		5,442		-		858		-		42,833
Substandard		-		-		-		-		-		-		-		-		-
Total Cannabis Related	$	-	$	-	$	18,981	$	25,937	$	7,509	$	7,958	$	8,908	$	-	$	69,293

Construction ⁽¹⁾
Pass	$	917	$	2,004	$	15,752	$	19,460	$	4,403	$	-	$	4,803	$	-	$	47,339
Special Mention		-		-		2,294		-		-		-		-		-		2,294
Substandard		-		-		-		15,715		2,587		586		-		-		18,888
Total Construction	$	917	$	2,004	$	18,046	$	35,175	$	6,990	$	586	$	4,803	$	-	$	68,521

Commercial business ^{(1) (3)}
Pass	$	-	$	7,388	$	1,995	$	4,829	$	1,039	$	24,455	$	93,029	$	-	$	132,735
Special Mention		-		-		-		-		1,458		2,358		18,153		-		21,969
Substandard		-		-		-		-		-		2,047		11,708		-		13,755
Total Commercial business	$	-	$	7,388	$	1,995	$	4,829	$	2,497	$	28,860	$	122,890	$	-	$	168,459

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$		$	71,843	$	71,843
Special Mention		-		-		-		-		-		-				2,021		2,021
Substandard		-		-		-		-		-		-		397		601		998
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	397	$	74,465	$	74,862

Home equity ⁽⁴⁾
Pass	$	1,796	$	164	$	3,293	$	1,246	$	396	$	4,914	$	57,357	$	4,319	$	73,485
Special Mention		-		-		-		-		-		42		511		-		553
Substandard		-		-		-		-		-		114		30		150		294
Total Home equity	$	1,796	$	164	$	3,293	$	1,246	$	396	$	5,070	$	57,898	$	4,469	$	74,332

Consumer
Pass	$	1,824	$	272	$	1,106	$	290	$	2	$	80	$	6	$	-	$	3,580
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	1,824	$	272	$	1,106	$	290	$	2	$	80	$	6	$	-	$	3,580

Total Loans	$	64,890	$	30,008	$	244,704	$	822,341	$	233,642	$	1,048,202	$	203,802	$	78,934	$	2,726,523

Gross charge-offs	$	-	$	-	$	-	$	12,836	$	282	$	3,848	$	18,166	$	9,592	$	44,724

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Note 5 - Loans Receivable and Allowance for Credit Losses (continued)


Loans by Year of Origination at December 31, 2024
		2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	12,059	$	16,586	$	47,544	$	37,639	$	28,550	$	92,376	$	-	$	-	$	234,754
Special Mention		-		-		3,555		-		-		174		-		-		3,729
Substandard		-		-		301		173		-		913		-		-		1,387
Total one-to-four family	$	12,059	$	16,586	$	51,400	$	37,812	$	28,550	$	93,463	$	-	$	-	$	239,870

Commercial and multi-family ⁽¹⁾
Pass	$	9,105	$	183,547	$	604,868	$	154,968	$	158,029	$	709,239	$	2,610	$	-	$	1,822,366
Special Mention		-		-		108,076		37,600		9,232		47,756		140		-		202,804
Substandard		-		10,115		33,958		13,027		11,782		61,877		-		-		130,759
Total Commercial and multi-family	$	9,105	$	193,662	$	746,902	$	205,595	$	179,043	$	818,872	$	2,750	$	-	$	2,155,929

Cannabis related ⁽²⁾
Pass	$	-	$	19,384	$	26,626	$	2,129	$	8,213	$	-	$	6,863	$	-	$	63,215
Special Mention		-		9,761		24,636		4,844		-		-		750		-		39,991
Substandard		-		-		-		-		-		-		-		-		-
Total Cannabis related	$	-	$	29,145	$	51,262	$	6,973	$	8,213	$	-	$	7,613	$	-	$	103,206

Construction ⁽¹⁾
Pass	$	4	$	34,906	$	37,624	$	-	$	-	$	-	$	5,824	$	-	$	78,358
Special Mention		-		1,521		3,792		42,330		3,745		-		-		-		51,388
Substandard		-		257		-		-		586		-		-		-		843
Total Construction	$	4	$	36,684	$	41,416	$	42,330	$	4,331	$	-	$	5,824	$	-	$	130,589

Commercial business ^{(1) (3)}
Pass	$	-	$	2,477	$	266	$	475	$	3,711	$	28,902	$	156,581	$	663	$	193,075
Special Mention		-		8,874		-		1,878		194		4,835		19,548		409		35,738
Substandard		-		-		-		-		-		5,884		7,542		-		13,426
Total Commercial business	$	-	$	11,351	$	266	$	2,353	$	3,905	$	39,621	$	183,671	$	1,072	$	242,239

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	23,739	$	59,189	$	82,928
Special Mention		-		-		-		-		-		-		1,506		2,894		4,400
Substandard		-		-		-		-		-		-		3,082		2,537		5,619
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	28,327	$	64,620	$	92,947

Home equity ⁽⁴⁾
Pass	$	300	$	3,767	$	1,369	$	501	$	549	$	5,754	$	51,829	$	2,186	$	66,255
Special Mention		-		-		-		-		-		18		-		-		18
Substandard		-		-		53		-		81		-		-		362		496
Total Home equity	$	300	$	3,767	$	1,422	$	501	$	630	$	5,772	$	51,829	$	2,548	$	66,769

Consumer
Pass	$	623	$	1,117	$	389	$	5	$	95	$	-	$	6	$	-	$	2,235
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	623	$	1,117	$	389	$	5	$	95	$	-	$	6	$	-	$	2,235

Total Loans	$	22,091	$	292,312	$	893,057	$	295,569	$	224,767	$	957,728	$	280,020	$	68,240	$	3,033,784

Gross charge-offs	$	446	$	20	$	-	$	174	$	-	$	1,133	$	8,381	$	681	$	10,835

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.
‎

Premises and Equipment

12 Months Ended

Dec. 31, 2025

Premises and Equipment [Abstract]

Premises and Equipment

Note 6 - Premises and Equipment

Premises and equipment as of December 31, 2025 and 2024 consists of the following:



		December 31,
		2025		2024
	(In Thousands)
Land	$	1,646	$	1,646
Buildings and improvements		10,098		10,048
Leasehold improvements		12,500		12,160
Furniture, fixtures and equipment		8,126		8,364
		32,370		32,218
Accumulated depreciation and amortization		(20,314)		(19,649)
	$	12,056	$	12,569

Depreciation and amortization expense for the years ended December 31, 2025, 2024, and 2023 was $1.6 million, 1.7 million, and $2.0 million, respectively.

Buildings and improvements include a building constructed on property leased from a related party (see Note 3).

Interest Receivable

12 Months Ended

Dec. 31, 2025

Interest Receivable [Abstract]

Interest Receivable

Note 7 - Interest Receivable

The distribution of accrued interest receivable at December 31, 2025 and 2024 was as follows:



	December 31,
		2025		2024
	(In Thousands)
Loans	$	12,995	$	14,344
Securities		839		832
	$	13,834	$	15,176

- Definition

The entire disclosure for interest income and interest expense for enterprises that derive a significant portion of their revenue from interest collected on investments, loans, and securities.

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+ Details

Deposits

12 Months Ended

Dec. 31, 2025

Deposits [Abstract]

Deposits

Note 8 – Deposits

The distribution of deposits at December 31, 2025 and 2024 were as follows:



	December 31,
		2025		2024
	(In Thousands)
Demand:
Non-interest bearing	$	531,140	$	520,387
Interest bearing		501,172		553,731
Money market		426,138		395,004
		1,458,450		1,469,122
Savings and club		243,670		252,491
Certificates of deposit		971,453		1,029,245
	$	2,673,573	$	2,750,858

Deposits of certain municipalities and local government agencies are collateralized by $43.3 million of investment securities and by a $300.0 million Municipal Letter of Credit with the FHLB.

At December 31, 2025 and 2024, certificates of deposit of $250,000 or more totaled approximately $436.0 million and $398.0 million, respectively.

At December 31, 2025, deposits from officers, directors and their affiliates totaled approximately $43.3 million.

The scheduled maturities of certificates of deposit at December 31, 2025, were as follows (In thousands):


		Amount
2026	$	954,078
2027		13,264
2028		2,286
2029		677
2030		694
Thereafter		454
	$	971,453

As of December 31, 2025 and 2024, the Company had $80.5 million and $177.6 million in brokered certificate deposits, respectively. The Company had no brokered demand deposits at December 31, 2025 and 2024. Reciprocal deposits are not considered brokered deposits under applicable regulations.

‎

Short-Term Debt and Long-Term Debt

12 Months Ended

Dec. 31, 2025

Subordinated Debt [Abstract]

Short-Term Debt and Long-Term Debt

Note 9 - Short-Term Debt and Long-Term Debt

Information regarding short-term borrowings is as follows:



	December 31,
			2025			2024

			Amount			Amount
		(In Thousands)
Balance at end of period		$	-		$	-
Average balance outstanding during the year		$	87		$	2
Highest month-end balance during the year		$	30,000		$	-
Average interest rate during the year			4.66	%		6.42	%
Weighted average interest rate at year-end			-	%		-	%

Long-term debt consists of the following:



		December 31,
		2025				2024
		Weighted Average Rate			Amount ($000s)	Weighted Average Rate			Amount ($000s)
Federal Home Loan Bank Advances:
	Maturing by December 31,
	2025	-	%	$	-		%	$	220,361
	2026	4.53			235,000	4.53			235,000
		4.53	%	$	235,000	4.21	%	$	455,361

At December 31, 2025 and 2024, loans with carrying values of approximately $1.5 billion and $1.4 billion, respectively, were pledged to secure the above noted Federal Home Loan Bank of New York borrowings. In addition, at December 31, 2025 and 2024, loans with carrying values of approximately $350.0 million and $546.7 million, respectively, were pledged with the Federal Reserve Discount window. There were no outstanding borrowings with the Federal Reserve at December 31, 2025 and 2024. No securities were pledged for borrowings at December 31, 2025 and 2024.

At December 31, 2025, the Company had the ability to obtain additional funding from the FHLB of $382.4 million and $198.7 million from the Federal Reserve Bank Discount Window, utilizing unencumbered loan collateral.

The Bank’s total credit exposure cannot exceed 50.0 percent of its total assets, or $1.640 billion, based on the borrowing limitations outlined in the FHLB of New York’s member products guide. The total credit exposure limit of 50.0 percent of total assets is recalculated each quarter.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 2
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
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-Topic 470
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Topic 470
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Subordinated Debt

12 Months Ended

Dec. 31, 2025

Subordinated Debt [Abstract]

Subordinated Debt

Note 10 – Subordinated Debt

On August 29, 2024, the Company issued $40 million of fixed-to-floating subordinated debentures (the “New Notes”) in a private placement to certain qualified institutional investors. The New Notes have a 10-year term and bear interest at a fixed rate of 9.250% for the first five years of the term. The fixed interest rate is payable semiannually for the first five years and will be reset quarterly thereafter to the then-current three-month SOFR (defined below) plus 582 basis points. The Notes qualify as Tier 2 capital for the Company for regulatory purposes, when applicable, and the portion that the Company contributes to the Bank will qualify as Tier 1 capital for the Bank. The Notes constitute an unsecured and subordinated obligation of the Company and rank junior in right of payment to any senior indebtedness and obligations to general and secured creditors. The Company used the net proceeds from the offering to repurchase $33.5 million of subordinated debt issued on July 30, 2018 (the “Old Notes”) and for general corporate purposes. The Tier 2 capital credit related to the Old Notes started to amortize as the Old Notes reached their five-year anniversary on August 1, 2023. Subordinated debt included associated deferred costs of $914,000 at December 31, 2025.

The Company also has $4.1 million of mandatory redeemable trust preferred securities. The interest rate on these floating rate junior subordinated debentures adjusts quarterly and had been equal to the three-month LIBOR plus 2.65%. They mature on June 17, 2034.

In accordance with the Adjustable Interest Rate Act (the “LIBOR Act”) and the regulation issued by the Board of Governors of the Federal Reserve System implementing the LIBOR Act, the Company has selected the three-month CME Term SOFR as the applicable successor rate for the trust preferred securities. The calculation of the amount of interest payable, based on the three-month CME Term SOFR, will also include the applicable tenor spread adjustment of 0.26161% per annum as specified in the LIBOR Act. At December 31, 2025, the interest rate for the trust preferred securities was 6.616%.

Regulatory Matters

12 Months Ended

Dec. 31, 2025

Regulatory Matters [Abstract]

Regulatory Matters

‎

Note 11 - Regulatory Matters

The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet the 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. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors.

In July 2013, the FDIC and the other federal bank regulatory agencies issued a final rule that revised their leverage and risk-based capital requirements and the method for calculating risk-weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act. Among other things, the new rule established a new common equity (“C/E”) Tier 1 minimum capital requirement (4.5 percent of risk-weighted assets), increased the minimum Tier 1 capital to risk-based assets requirement (from 4.0 percent to 6.0 percent of risk-weighted assets) and assigned a higher risk weight (150 percent) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The final rule also requires unrealized gains and losses on certain available-for-sale securities holdings and defined benefit plan obligations to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out is exercised. The Bank exercised the opt-out election.

On September 17, 2019, the FDIC passed a final rule providing qualifying community banking organizations the ability to opt-in to a new community bank leverage ratio (“CBLR”) framework, (tier 1 capital to average consolidated assets) at 9.0 percent for institutions under $10.0 billion in assets that such institutions may elect to utilize in lieu of the general applicable risk-based capital requirements under Basel III. Such institutions that meet the community bank leverage ratio and certain other qualifying criteria will automatically be deemed to be well-capitalized.

The Bank opted into the community bank leverage ratio (tier 1 capital to average consolidated assets) (“CBLR”) framework, with a minimum requirement of 9% for institutions under $10 billion in assets. Such institutions meeting that requirement may elect to utilize the CBLR in lieu of the general applicable risk-based capital requirements under Basel III. Such institutions that meet the CBLR and certain other qualifying criteria will automatically be deemed to be well-capitalized.

At December 31, 2025 and December 31, 2024, the Bank exceeded all its regulatory capital requirements. The following table sets forth the regulatory capital ratios for the Bank as well as regulatory capital requirements for the periods presented.


					For Capital Adequacy				To be Well Capitalized under Prompt Corrective
	Actual					Purposes			Action Provisions

		Amount	Ratio			Amount	Ratio			Amount	Ratio
		(Dollars in Thousands)
As of December 31, 2025
Bank
Community Bank Leverage Ratio	$	344,067	10.39	%	$	264,922	8.00	%	$	298,037	9.00	%

As of December 31, 2024
Bank
Community Bank Leverage Ratio	$	363,697	10.03	%	$	290,087	8.00	%	$	326,348	9.00	%

‎

Note 11 - Regulatory Matters (continued)

The following tables set forth the regulatory capital ratios for the Company as well as the regulatory requirements for the years ended December 31, 2025 and 2024.


					For Capital Adequacy				To be Well Capitalized under Prompt Corrective
	Actual					Purposes			Action Provisions

		Amount	Ratio			Amount	Ratio			Amount	Ratio
		(Dollars in Thousands)
As of December 31, 2025
Bancorp
Total Capital (to Risk-Weighted Assets)	$	377,318	13.43	%	$	224,761	8.00	%	$	280,952	10.00	%
Tier 1 Capital (to Risk-Weighted Assets)		304,541	10.84			168,565	6.00			168,565	6.00
C/E Tier 1 Capital (to Risk-Weighted Assets)		275,174	9.79			126,484	4.50			-	-
Tier 1 Capital (to adjusted total assets)		304,541	9.20			132,409	4.00			-	-


					For Capital Adequacy				To be Well Capitalized under Prompt Corrective
	Actual					Purposes			Action Provisions

		Amount	Ratio			Amount	Ratio			Amount	Ratio
		(Dollars in Thousands)
As of December 31, 2024
Bancorp
Total Capital (to Risk-Weighted Assets)	$	400,591	12.89	%	$	248,621	8.00	%	$	310,777	10.00	%
Tier 1 Capital (to Risk-Weighted Assets)		326,965	10.52			186,482	6.00			186,482	6.00
C/E Tier 1 Capital (to Risk-Weighted Assets)		298,118	9.59			139,889	4.50			-	-
Tier 1 Capital (to adjusted total assets)		326,965	9.02			144,996	4.00			-	-

For the Company to be “well capitalized” under Federal Reserve definitions for bank holding companies, the Company is only required to have a Tier 1 Capital to Risk Weighted Assets ratio of at least 6.00% and a Total Capital to risk Weighted Assets ratio of at least 10.00%.

As of December 31, 2025 and 2024, the most recent notification from the Company and the Bank’s regulators categorized the Bank as “well-capitalized” under the regulatory framework for prompt corrective action. There are no conditions or events occurring since that notification that management believes have changed the Company’s or the Bank’s category.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Benefits Plans

12 Months Ended

Dec. 31, 2025

Benefits Plan [Abstract]

Benefits Plan

Note 12- Benefits Plans

Pension Plan

The Company acquired, through the merger with Pamrapo Bancorp, Inc. a non-contributory defined benefit pension plan (“Pension Plan”) covering all eligible employees of Pamrapo Savings Bank. Effective January 1, 2010, the Pension Plan was frozen by Pamrapo Savings Bank. All benefits for eligible participants accrued in the Pension Plan to the freeze date have been retained. The benefits are based on years of service and employee’s compensation. The Pension Plan is funded in conformity with funding requirements of applicable government regulations. Prior service costs for the Pension Plan generally are amortized over the estimated remaining service periods of employees.

The following tables set forth the Pension Plan's funded status at December 31, 2025, 2024 and 2023 and components of net periodic pension cost for the years ended December 31, 2025, 2024 and 2023:


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

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


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

At December 31, 2025, 2024 and December 31, 2023, unrecognized net (gains) and losses of $(5,000), $62,000 and $580,000, respectively, were included, net of deferred income tax, in accumulated other comprehensive loss in accordance with ASC 715-20 and ASC 715-30.

‎

Note 12 - Benefits Plan (continued)

Plan Assets

Investment Policies and Strategies

The primary long-term objective for the Pension Plan is to maintain assets at a level that will sufficiently cover future beneficiary obligations. The Pension Plan is structured to include a volatility reducing component (the fixed income commitment) and a growth component (the equity commitment).

To achieve the Bank’s long-term investment objectives, the trustee invests the assets of the Pension Plan in a diversified combination of asset classes, investment strategies, and pooled vehicles. The asset allocation guidelines in the table below reflect the Bank’s risk tolerance and long-term objectives for the Pension Plan. These parameters will be reviewed on a regular basis and subject to change following discussions between the Bank and the trustee.

The following asset allocation targets and ranges guides the trustee in structuring the overall allocation in the Pension Plan’s investment portfolio. The Bank or the trustee may amend these allocations to reflect the most appropriate standards consistent with changing circumstances. Any such fundamental amendments in strategy will be discussed between the Bank and the trustee prior to implementation.

Based on the above considerations, the following asset allocation ranges will be implemented:



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

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

The parameters for each asset class provide the trustee with the latitude for managing the Pension Plan within a minimum and maximum range. The trustee has full discretion to buy, sell, invest and reinvest in these asset segments based on these guidelines which includes allowing the underlying investments to fluctuate within the stated policy ranges. The Pension Plan maintains a cash equivalents component (not to exceed 3 percent under normal circumstances) within the fixed income allocation for liquidity purposes.

The trustee monitors the actual asset segment exposures of the Pension Plan on a regular basis and, periodically, may adjust the asset allocation within the ranges set forth above as it deems appropriate. Periodic reallocations of assets are based on the trustee’s perception of the changing risk/return opportunities of the respective asset classes.

Determination of Long-Term Rate of Return

The long-term rate of return on assets assumption was set based on historical returns earned by equities and fixed income securities, adjusted to reflect expectations of future returns as applied to the Pension Plan’s target allocation of asset classes. Equities and fixed income securities were assumed to earn real rates of return in the ranges of 6.0 to 10.0 percent and 2.0 to 6.0 percent, respectively. The long-term inflation rate was estimated to be 3.0 percent. When these overall return expectations are applied to the Pension Plan’s target allocation, the result is an expected rate of return of 4.0 to 7.0 percent.

‎

Note 12 - Benefits Plan (continued)

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



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

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




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

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

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

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

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

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

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

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

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

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

Note 12 - Benefits Plan (continued)

The Company does not expect to contribute, based upon actuarial estimates, to the Pension Plan in 2026.

Benefit payments are expected to be paid for the years ended December 31 as follows (In thousands):



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

Equity Incentive Plans

The Company, under the plan approved by its shareholders on April 27, 2023 (“2023 Equity Incentive Plan”), authorized the issuance of up to 1,000,000 shares of common stock of the Company pursuant to grants of stock options, restricted stock awards, restricted stock units, and performance awards. Employees and directors of the Company and the Bank are eligible to participate in the 2023 Equity Incentive Plan. All stock options are granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code. Only employees are permitted to receive incentive stock options.

The Company, under the plan approved by its shareholders on April 26, 2018 (“2018 Equity Incentive Plan”), authorized the issuance of up to 1,000,000 shares of common stock of the Company pursuant to grants of stock options and restricted stock units. Employees and directors of the Company and the Bank are eligible to participate in the 2018 Stock Plan. All stock options are granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code. Only employees are permitted to receive incentive stock options.

The Company, under the plan approved by its shareholders on April 28, 2011 (“2011 Stock Plan”), authorized the issuance of up to 900,000 shares of common stock of the Company pursuant to grants of stock options. Employees and directors of the Company and the Bank are eligible to participate in the 2011 Stock Plan. All stock options were granted in the form of either "incentive" stock options or "non-qualified" stock options. Incentive stock options have certain tax advantages that must comply with the requirements of Section 422 of the Internal Revenue Code. Only employees are permitted to receive incentive stock options.

On February 10, 2026, awards of 47,616 shares of restricted stock, in aggregate were declared for members of the Board of Directors of the Bank and the Company, which vest over a 3-year period, commencing on the anniversary of the award date.

On February 3, 2025, awards of 42,210 and 1,563 shares of restricted stock were declared for members of the Board of Directors of the Bank and the Company, which fully vested on the anniversary of the awards.

On April 25, 2024, awards of 30,000 and 20,000 shares of restricted stock were declared for an executive officer of the Bank and the Company, which vest over a 2 and 3-year period, respectively, commencing on the anniversary date of the awards.

On January 31, 2023, awards of 27,000 shares of restricted stock, in aggregate were declared for members of the Board of Directors of the Bank and the Company, which vest over a 4-year period, commencing on the anniversary of the award date.

On June 30, 2023, an award of 25,252 shares of restricted stock was declared for a director and executive officer of the Bank and the Company, which fully vested on the anniversary of the award date.

The following table presents the share-based compensation expense for the years ended December 31, 2025, 2024 and 2023 (In Thousands).



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

The following is a summary of the status of the Company’s restricted shares as of December 31, 2025.



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

The remaining non-vested restricted shares outstanding as of December 31, 2025, will be charged to expense in 2026-2027, totaling $247,000.

‎

Note 12 - Benefits Plan (continued)

A summary of stock option activity, follows:


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

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

It is Company policy to issue new shares upon share option exercise. Expected future compensation expense relating to the 102,023 shares of unvested options outstanding as of December 31, 2025 is $133,000 and will be recognized over a weighted average period of 1.89 years.

On February 24, 2025, grants of 63,763 options, in aggregate, were declared for certain officers of the Bank and the Company, which vest over a 3-year period commencing on the anniversary of the grant date. The exercise price was recorded as of the close of business on February 24, 2025. There were no options awarded during the year ended December 31, 2024.

Supplemental Executive Retirement Plan

The Bank entered into a Supplemental Executive Retirement Agreement (the “SERP Agreement”) with its former Chief Executive Officer (“the CEO”) in December 2021, payable in the form of a life annuity.

The SERP Agreement was an unfunded arrangement maintained primarily to provide supplemental retirement benefits and comply with Section 409A of the Internal Revenue Code. The cost of the benefit was amortized over a three-year vesting period beginning in 2021. The Bank recorded compensation expense of $95,000, $45,000, and $350,000 related to the Plan during the years ended December 31, 2025, 2024 and 2023, respectively. For each of the years ended December 31, 2026, and 2027, the anticipated expense is $44,000 and $41,000, respectively. The Bank has elected to fund the retirement benefit by purchasing annuities that have been designed to provide a future source of funds for the lifetime retirement benefits of the SERP Agreement, totaling $1,700,000, which is included in other assets.

Stockholders' Equity

12 Months Ended

Dec. 31, 2025

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 13 – Stockholders’ Equity

On March 15, 2025, the Company completed a private placement of 52 shares of Series K 6.0% Noncumulative Perpetual Stock, par value $0.01 per share (the “Series K Preferred Stock”), resulting in gross proceeds of $520,000.

On December 31, 2024, the Company completed a private placement of 497 shares of Series K 6% Noncumulative Perpetual Stock, par value $0.01 per share (the “Series K Preferred Stock”), resulting in gross proceeds of $4,970,000.

On November 30, 2024, the Company redeemed 1,001 outstanding shares of its Series I 3.0% Noncumulative Perpetual Preferred Stock, at their face value of $10,000 per share, for a total redemption amount of $10,010,000.

On September 25, 2024, the Company closed a private placement of Series J 8% Noncumulative Perpetual Stock, par value $0.01 per share (the “Series J Preferred Stock”), resulting in gross proceeds of $1,360,000 for 136 shares.

On June 21, 2024, the Company closed a private placement of Series J Preferred Stock, resulting in gross proceeds of $670,000 for 67 shares.

On March 29, 2024, the Company closed a private placement of Series J Preferred Stock, resulting in gross proceeds of $2,690,000 for 269 shares.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 14
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Note 14 – Goodwill and Other Intangible Assets

The Company’s intangible assets consist of goodwill in connection with acquisitions. The initial recording of goodwill requires subjective judgments concerning estimates of the fair value of the acquired assets and assumed liabilities. Goodwill is not amortized but is subject to annual tests for impairment or more often if events or circumstances indicate it may be impaired. The amount of goodwill at December 31, 2025 and 2024 was $5.2 million.

The Company conducts impairment analysis on goodwill at least annuallyor more often as conditions require. The Company reported a net loss in the first quarter of 2025 and observed a sustained decline in its stock price. Under ASC 350-20-35-30, management considered this a triggering event and performed an interim impairment assessment of goodwill as of May 31, 2025. The results of the analysis determined that there was no impairment needed.

As a result of the net loss for the year ending December 31, 2025, the Company conducted a quantitative assessment of goodwill as of December 31, 2025, and determined that it was more likely than not that goodwill was not impaired. Accordingly, there was no impairment at December 31, 2025. Refer to the Critical Accounting Estimates for additional details.

The Company believes that the fair values of its goodwill was in excess of its carrying amounts and there was no impairment at December 31, 2025.

Dividend Restrictions

12 Months Ended

Dec. 31, 2025

Dividend Restrictions [Abstract]

Dividend Restrictions

Note 15 - Dividend Restrictions

Payment of cash dividends on common stock is conditional on earnings, financial condition, cash needs, capital considerations, the discretion of the Board of Directors of the Company, and compliance with regulatory requirements. State and federal law and regulations impose limitations on the Bank’s ability to pay dividends to the Company. Under New Jersey law, the Company is permitted to declare dividends on its common stock only if, after payment of the dividend, the capital stock of the Bank will be unimpaired and the Bank will have a surplus of no less than 50 percent of its capital stock or, if not, the payment of the dividend will not reduce the Bank’s surplus. During 2025, 2024, and 2023, the Bank paid the Company total dividends of $11,421,000, $19,387,000, and $22,580,000, respectively. The Company’s ability to declare dividends is dependent upon the amount of dividends paid to the Company by the Bank.

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Taxes [Abstract]

Income Taxes

Note 16 - Income Taxes

The components of income tax (benefit) expense are summarized as follows:



	Years Ended December 31,
		2025		2024		2023
	(In Thousands)
Current income tax (benefit) expense:
Federal	$	(783)	$	4,529	$	8,917
State		954		2,860		5,592
		171		7,389		14,509
Deferred income tax (benefit) expense:
Federal		(3,778)		351		(1,634)
State		(2,164)		(93)		(903)
		(5,942)		258		(2,537)
Total Income Tax (Benefit) Expense	$	(5,771)	$	7,647	$	11,972

‎

Note 16 - Income Taxes (continued)

The tax effects of existing temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities are as follows:



	December 31,
		2025		2024
Deferred income tax assets:	(In Thousands)
OREO write down	$	4,310	$	-
Allowance for credit losses		9,868		10,176
Nonaccrual interest		1,868		749
Net operating loss carry forwards		2,542		1,070
Lease liability		3,184		3,756
Unrealized loss on securities		1,330		2,149
Capital loss carryover ⁽¹⁾		477		477
Deferred fees and costs		498		782
Other		1,932		2,094
		26,009		21,253
Reserve against capital loss carryover		(477)		-
		25,532		21,253
Deferred income tax liabilities:
Purchase accounting adjustment on premises and equipment acquired		(66)		(69)
Right-of-use assets		(3,047)		(3,626)
SBA servicing asset		(210)		(252)
Borrowing modification		-		(125)
		(3,323)		(4,072)


Net Deferred Tax Asset	$	22,209	$	17,181

(1) Tax benefit relating to capital loss on securities sold in 2023 which will expire in 2028.

A summary of the change in the net deferred tax asset is as follows:



	Years Ended December 31,
		2025		2024
	(In Thousands)
Balance at beginning of year:	$	17,181	$	18,213
Deferred tax benefit		5,942		(258)
Other comprehensive income
Available-for-sale securities		(892)		(618)
Benefit plan		(22)		(156)
Balance at end of year	$	22,209	$	17,181

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. In making this assessment, management has considered the profitability of current core operations, future market growth, forecasted earnings, future taxable income, and ongoing, feasible and permissible tax planning strategies. The Company has determined that it would not be able to realize a portion of its net deferred tax asset in the future, and a $477,000 adjustment to the net deferred tax asset was charged to earnings. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income and capital gains during the periods in which temporary differences are deductible and carry forwards are available. The Company believes it will generate sufficient future taxable income to realize the tax benefits related to the remaining net deferred tax assets in our consolidated statements of financial condition.

In conjunction with the Company’s acquisition of IA Bancorp in 2018, the Company acquired a federal net operating loss carry forward of $8.7 million. This carry forward is available for use through 2035; however, in accordance with Internal Revenue Code Section 382, usage of the carry forward is limited to $459,000 annually on a cumulative basis (portions of the $459,000 not used in a particular year may be added to subsequent usage). At both December 31, 2025 and 2024, the Company had $5.1 million remaining of this federal net operating loss carry forward available to offset future taxable income for federal tax reporting purposes.

In 2025, the Company has generated a $4.4 million federal net operating loss carryover with no expiration date and $7.1 million state net operating loss carryover that expires in 2045.

‎

Note 16 - Income Taxes (continued)

The following table presents a reconciliation between the reported income tax expense and the income tax expense which would be computed by applying the normal federal income tax rate of 21.0 percent to income before income tax expense.



	Years Ended December 31,
	2025				2024				2023
	(In Thousands)
		Amount	Percent			Amount	Percent			Amount	Percent
Federal income tax (benefit) expense at statutory rate	$	(3,843)	21.00	%	$	5,517	21.00	%	$	8,706	21.00	%
Increases (decreases) in income taxes resulting from:
State income tax, net of federal income tax effect ⁽¹⁾		(1,175)	6.42			2,186	8.32			3,704	8.94
Tax-exempt income		(15)	0.08			(13)	(0.05)			(30)	(0.07)
Bank-owned life insurance earnings		(698)	3.81			(553)	(2.10)			(368)	(0.89)
Capital loss carryover valuation allowance		477	(2.60)			-	-			-	-
Other items, net		(517)	2.83			510	1.94			(40)	(0.10)
Effective Income Tax Expense	$	(5,771)			$	7,647			$	11,972
Effective Income Tax Rate			31.54	%			29.11	%			28.88	%

(1) State benefits in New Jersey make up the majority (greater than 50%) of the tax effect in this category.

The Company adopted ASU 2023-09 on a retrospective basis for the years ended December 31, 2025, 2024 and 2023 and has included the following table as a result of the adoption, which presents income taxes paid net of refunds received (in thousands):


	Years Ended December 31,
	2025		2024		2023
	(In Thousands)
U.S. Federal	$	291	$	4,300	$	10,600
State and Local income tax, net of federal income tax effect:
New Jersey		715		1,400		5,130
New York State		442		597		1,258
New York City		253		502		939
Pennsylvania		100		80		100
Total income taxes paid		1,801		6,879		18,027

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 231
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2025

Commitments And Contingencies [Abstract]

Commitments and Contingencies

Note 17- Commitments and Contingencies

The Bank is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments primarily include commitments to extend credit. The Bank’s exposure to credit loss, in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments.

Outstanding loan related commitments were as follows:



	December 31,
		2025		2024		2023
	(In Thousands)
Loan origination commitments	$	33,108	$	1,505	$	975
Standby letters of credit		1,354		2,450		13,353
Construction loans in process		6,899		16,673		63,395
Unused lines of credit		144,639		173,169		235,329
	$	186,000	$	193,797	$	313,052

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but primarily includes residential real estate properties.

Note 17- Commitments and Contingencies (continued)

Leases

At December 31, 2025, the Company leased 24 of its offices under various operating lease agreements. The leases have remaining terms of 1 year to 9 years. The leases contain provisions for the payment by the Company of its pro-rata share of real estate taxes, insurance, common area maintenance and other variable expenses. The Company will allocate payments made under such leases between lease and non-lease components. Some leases contain renewal options and options to purchase the assets.

The Company evaluates its contracts and service agreements in order to determine if there is an asset imbedded in such contracts and agreements. Such determination is based upon whether there is a specific asset covered by the agreement, whether the Company is entitled to all of the economic benefits to the asset over the term of the agreement, and whether the Company has full control and use of the asset over the term of the agreement without substitution rights or direction of use of the asset by the lessor.

The Company includes in its determination of its lease liability and concurrent right-of-use asset those renewal or purchase options for which it is reasonably certain it will exercise. Currently, the Company does not expect to exercise such purchase options and, accordingly, those are excluded in the determination of the lease liabilities and the concurrent right-of-use assets.

The Company has elected not to recognize a lease liability and a right-of-use asset for leases with a lease term of 12 or fewer months.

To calculate its lease liabilities, the Company used a discount rate based upon the applicable borrowing rates of the Federal Home Loan Bank at the inception of the lease agreement, which corresponds to the length of the lease term.

The following tables present certain information related to the Company’s lease obligations (in thousands):


		Twelve Months Ended December 31, 2025		Twelve Months Ended December 31, 2024
Operating lease cost	$	3,792	$	3,596
Variable lease cost-operating leases		1,148		1,096
	$	4,940	$	4,692

		At December 31, 2025		At December 31, 2024
Supplemental balance sheet information related to leases:
Operating Leases
Operating lease right-of-use assets	$	10,660	$	12,686

Operating Lease Liabilities:
Current liabilities	$	3,314	$	3,189
Operating lease liabilities (noncurrent portion)		8,835		11,299
Imputed interest		(1,009)		(1,349)
Total operating lease liabilities	$	11,140	$	13,139

The following tables summarize the Company’s weighted average remaining lease terms and weighted average discount rates:


	2025		2024
Weighted Average Remaining Lease Term
Operating leases	4.64	years	5.39	years

Weighted Average Discount Rate
Operating leases	3.55	%	3.40	%

The following table summarizes the Company’s maturity of lease obligations for operating leases at December 31, 2025 (in thousands):


Maturities of lease liabilities (discounted):
		At December 31, 2025
		Operating Leases
One year or less	$	3,314
Over one year through three years		4,993
Over three years through five years		2,250
Over five years		1,592
Gross Operating Lease Liabilities	$	12,149
Imputed Interest		(1,009)
Total Operating Lease Liabilities	$	11,140

Legal Contingencies

The Company is involved, from time to time, as plaintiff or defendant in various legal actions arising in the normal course of business. As of December 31, 2025, the Company was not involved in any material legal proceedings the outcome of which, if determined in a manner adverse to the Company, would have a material adverse effect on our financial condition or results of operations.

Fair Value Measurements and Fair Values of Financial Instruments

12 Months Ended

Dec. 31, 2025

Fair Value Measurements and Fair Values of Financial Instruments [Abstract]

Fair Value Measurements and Fair Values of Financial Instruments

Note 18 - Fair Value Measurements and Fair Values of Financial Instruments

Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective year-ends and have not been re-evaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each year-end.

ASC Topic 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. There were no liabilities measured at fair value on a recurring or nonrecurring basis at December 31, 2025 and 2024.

For assets measured at fair value on a recurring basis, the fair value measurements, by level, within the fair value hierarchy are as follows:



			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
	(In Thousands)
As of December 31, 2025:
Securities Available-for-Sale
Debt Securities Available-for-Sale	$	126,395	$	-	$	126,395	$	-
Marketable Equities		9,172		9,172		-		-
Total Securities Available-for-Sale	$	135,567	$	9,172	$	126,395	$	-

As of December 31, 2024:
Securities Available for Sale
Debt Securities Available-for-Sale	$	101,717	$	-	$	101,717	$	-
Marketable Equities		9,472		9,472		-		-
Total Securities Available-for-Sale	$	111,189	$	9,472	$	101,717	$	-

For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy are as follows:



			(Level 1)		(Level 2)
			Quoted Prices in		Significant		(Level 3)
			Active Markets		Other		Significant
			for Identical		Observable		Unobservable
Description	Total		Assets		Inputs		Inputs
	(In Thousands)
As of December 31, 2025:
Individually Evaluated Loans	$	20,206	$	-	$	-	$	20,206
Other real estate owned	$	5,000	$	-	$	-	$	5,000

As of December 31, 2024:
Individually Evaluated Loans	$	19,391	$	-	$	-	$	19,391

Certain individually evaluated loans and OREO were adjusted to the fair value, less costs to sell, of the underlying collateral securing these loans resulting in losses. The losses on individually evaluated loans is not recorded directly as an adjustment to current earnings, but rather as a component in determining the allowance for credit losses. The loss on OREO is recorded as a component of non-interest income. Fair value was measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties.

During the year ended December 31, 2025, the Company recorded write-downs of $15,077,000 related to an OREO property. This loss was the result of updated appraisals, changes in market conditions, and management’s evaluation of estimated selling costs. The valuation adjustments are included in “Other real estate owned, net” within the Consolidated Statements of Operations.

There were no liabilities measured at fair value at December 31, 2025 or December 31, 2024.

‎

Note 18 - Fair Value Measurements and Fair Values of Financial Instruments (continued)

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value, (Dollars in thousands):



Quantitative Information about Level 3 Fair Value Measurements
		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
December 31, 2025:
Individually Evaluated Loans	$	20,206	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%
Other Real Estate Owned	$	5,000	Appraisal of collateral (1)	Appraisal adjustments (2)	5%



Quantitative Information about Level 3 Fair Value Measurements
		Fair Value	Valuation	Unobservable	Range
		Estimate	Techniques	Input
December 31, 2024:
Individually Evaluated Loans	$	19,391	Appraisal of collateral (1)	Appraisal adjustments (2)	0%-10%

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

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

The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at December 31, 2025 and 2024.

Cash and Cash Equivalents (Carried at Cost)

The carrying amounts reported in the consolidated statements of financial condition for cash and interest-earning deposits approximate those assets’ fair values.

Securities (Carried at Fair Value)

The fair value of securities is determined by obtaining quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices.

Loans Held for Sale (Carried at Lower of Cost or Fair Value)

The fair value of loans held for sale is determined, when possible, using quoted secondary-market prices. If no such quoted prices exist, the fair value of a loan is determined using quoted prices for a similar loan or loans, adjusted for specific attributes of that loan. Loans held for sale are carried at the lower of cost or fair value.

Loans Receivable (Carried at Amortized Cost)

The fair values of loans, except for certain individually evaluated loans, are estimated using discounted cash flow analyses, using market rates at the date of the statements of financial condition that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values.

Individually Evaluated Loans (Generally Carried at Fair Value)

Individually evaluated loans are those for which the Company has measured and recorded an ACL generally based on the fair value of the loan’s collateral, less estimated costs to sell. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value at December 31, 2025 and 2024 consists of the loan balances of $26.8 million and $31.2 million net of an ACL of $6.6 million and $11.8 million, respectively.

FHLB of New York Stock (Carried at Cost)

The carrying amount of restricted investment in bank stock approximates fair value and considers the limited marketability of such securities.

Accrued Interest Receivable and Payable (Carried at Cost)

The carrying amount of accrued interest receivable and accrued interest payable approximates its fair value.

Other Real Estate Owned (Carried at Fair Value)

The fair value of other real estate owned is recorded at fair value less estimated costs to sell at the date of acquisition. After initial recognition, OREO is evaluated periodically and is carried at the lower of its carrying amount or fair value less estimated costs to sell. Fair value is derived primarily from third-party appraisals, adjusted for estimated selling costs and market conditions, and is therefore considered a Level 3 non-recurring fair value measurement. Any subsequent write-downs to fair value are charged to other real estate owned expense.

‎

Note 18 - Fair Value Measurements and Fair Values of Financial Instruments (continued)

Deposits (Carried at Amortized Cost)

The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits.

Debt Including Subordinated Debentures (Carried at Amortized Cost)

Fair values of debt are estimated using discounted cash flow analysis, based on quoted prices for new long-term debt with similar credit risk characteristics, terms and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party.

Off-Balance Sheet Financial Instruments

Fair values for the Bank’s off-balance sheet financial instruments (lending commitments and unused lines of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. The fair value of these commitments was deemed immaterial and is not presented in the accompanying table.

The carrying values and estimated fair values of financial instruments were as follows at December 31, 2025 and 2024:


		As of December 31, 2025
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	276,584	$	276,584	$	276,584	$	-	$	-
Interest-earning time deposits		735		735		-		735		-
Debt securities available-for-sale		126,395		126,395		-		126,395		-
Equity investments		9,172		9,172		9,172		-		-
Loans receivable, net		2,691,091		2,643,200		-		-		2,643,200
FHLB of New York stock, at cost		14,176		14,176		-		14,176		-
Accrued interest receivable		13,834		13,834		-		13,834		-

Financial liabilities:
Deposits		2,673,573		2,674,494		1,702,109		972,385		-
Debt		235,000		236,514		-		236,514		-
Subordinated debentures		43,210		40,034		-		40,034		-
Accrued interest payable		4,056		4,056		-		4,056		-


		As of December 31, 2024
					Quoted Prices in Active		Significant		Significant
	Carrying				Markets for Identical Assets		Other Observable Inputs		Unobservable Inputs
	Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
	(In Thousands)
Financial assets:
Cash and cash equivalents	$	317,282	$	317,282	$	317,282	$	-	$	-
Interest-earning time deposits		735		735		-		735		-
Debt securities available-for-sale		101,717		101,717		-		101,717		-
Equity investments		9,472		9,472		9,472		-		-
Loans held for sale		-		-		-		-		-
Loans receivable, net		2,996,259		2,900,892		-		-		2,900,892
FHLB of New York stock, at cost		24,272		24,272		-		24,272		-
Accrued interest receivable		15,176		15,176		-		15,176		-

Financial liabilities:
Deposits		2,750,858		2,751,625		1,721,602		1,030,023		-
Debt		455,361		456,290		-		456,290		-
Subordinated debentures		42,961		41,594		-		41,594		-
Accrued interest payable		5,195		5,195		-		5,195		-

+

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2025

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Note 19 - Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders' equity are as follows:


	At December 31,
		2025		2024		2023
	(In Thousands)

Net unrealized loss on securities available-for-sale	$	(3,250)	$	(6,873)	$	(9,380)
Tax effect		800		1,692		2,310
Net of tax amount		(2,450)		(5,181)		(7,070)

Benefit plan adjustments		5		(68)		(587)
Tax effect		(11)		10		166
Net of tax amount		(6)		(58)		(421)

Accumulated other comprehensive loss	$	(2,456)	$	(5,239)	$	(7,491)

Parent Only Condensed Financial Information

12 Months Ended

Dec. 31, 2025

Parent Only Condensed Financial Information [Abstract]

Parent Only Condensed Financial Information

Note 20 - Parent Only Condensed Financial Information



STATEMENTS OF FINANCIAL CONDITION
	Years Ended December 31,
		2025		2024
	(In Thousands)
Assets
Cash and due from banks	$	863	$	3,289
Investment in subsidiaries		347,934		364,781
Restricted common stock		124		124
Other assets		315		402
Total assets		349,236		368,596
Liabilities and Stockholders' Equity
Liabilities
Subordinated debentures	$	43,210	$	42,961
Other liabilities		1,742		1,710
Total liabilities		44,952		44,671
Stockholders' Equity		304,284		323,925
Total Liabilities and Stockholders' Equity	$	349,236	$	368,596



STATEMENTS OF OPERATIONS
	Years Ended December 31,
		2025		2024		2023
	(In Thousands)
Dividends from Bank	$	11,421	$	19,387	$	20,580
Interest and dividends from investments		1		2		2
Total Income		11,422		19,389		20,582
Interest expense, borrowed money		4,268		3,894		2,725
Other		381		442		422
Total Expense		4,649		4,336		3,147
Income before Income Tax Benefit and Equity in Undistributed Earnings of Subsidiaries		6,773		15,053		17,435
Income tax benefit		(1,346)		(1,273)		(924)
Income before Equity in Undistributed Earnings of Subsidiaries		8,119		16,326		18,359
Equity in undistributed (losses) earnings of subsidiaries		(20,646)		2,297		11,124
Net (Loss) Income	$	(12,527)	$	18,623	$	29,483

‎

Note 20 - Parent Only Condensed Financial Information



STATEMENTS OF CASH FLOWS
	Years Ended December 31,
		2025		2024		2023
	(In Thousands)
Cash Flows from Operating Activities
Net (Loss) Income	$	(12,527)	$	18,623	$	29,483
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Amortization		249		83		116
Equity in undistributed losses (earnings) of subsidiaries		20,646		(2,297)		(11,124)
Decrease (increase) in other assets		87		770		(1,062)
(Decrease) increase in other liabilities		32		1,028		(303)
Net Cash Provided By Operating Activities		8,487		18,207		17,110
Cash Flows from Investing Activities
Additional investment in subsidiary		-		(9,690)		(8,227)
Net Cash Used In Investing Activities	$	-	$	(9,690)	$	(8,227)
Cash Flows from Financing Activities
Proceeds from issuance of preferred stock		520		9,690		15,270
Redemption of preferred stock		-		(10,010)		(11,230)
Proceeds from issuance of common stock		1,120		824		1,773
Proceeds from issuance of subordinated debt		-		38,754		-
Redemption of subordinated debt		-		(33,500)		-
Cash dividends paid		(12,553)		(12,276)		(11,142)
Purchase of treasury stock		-		-		(3,816)
Net Cash Used in Financing Activities		(10,913)		(6,518)		(9,145)
Net (Decrease) Increase in Cash and Cash Equivalents		(2,426)		1,999		(263)
Cash and Cash Equivalents - Beginning	$	3,289	$	1,290	$	1,553
Cash and Cash Equivalents - Ending	$	863	$	3,289	$	1,290

‎

Subsequent Events

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

Subsequent Events

Note 21 - Subsequent Events

Subsequent Events are events or transactions that occur after the balance sheet date but before financial statements are issued or available to be issued. Financial statements are considered issued when they are widely distributed to stockholders and other financial statement users for general use and reliance in a form and format that complies with GAAP.

On January 28, 2026, the Company declared a cash dividend of $0.08 per share and was paid to stockholders on February 26, 2026, with a record date of February 11, 2026.

Summary of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies [Abstract]

Basis of Consolidated Financial Statement Presentation

The consolidated financial statements which include the accounts of the Company and its wholly-owned subsidiaries, the Bank, the New Jersey Investment Company, BCB Capital Finance Group LLC, and Special Asset REO 2, LLC have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany accounts and transactions have been eliminated in consolidation.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the years then ended. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses and a determination as to possible impairment of goodwill. Management believes that the allowance for credit losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance for credit losses may be necessary based on changes in economic conditions in the market area. Management performed a quantitative assessment of goodwill and determined there was no impairment as of December 31, 2025.

In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for credit losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

In preparing these consolidated financial statements, the Company evaluated the events that occurred between December 31, 2025, and the date these consolidated financial statements were issued.

Cash and Cash Equivalents

Cash and cash equivalents include cash and amounts due from depository institutions and interest-earning deposits in other banks having original maturities of three months or less.

Debt Securities

Investments in debt securities that the Bank has the positive intent and ability to hold to maturity are classified as held-to-maturity securities and reported at amortized cost. Debt securities that are bought and held principally for the purpose of selling them in the near-term are classified as trading securities and reported at fair value, with unrealized holding gains and losses included in earnings. Debt securities not classified as trading securities or as held-to-maturity securities are classified as available-for-sale securities (“AFS”) and reported at fair value, with unrealized holding gains or losses, net of applicable deferred income taxes, reported in the accumulated other comprehensive income (loss) component of stockholders’ equity. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. There were no debt securities classified as held-to-maturity on December 31, 2025 and 2024.

For debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more than 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 securities available-for-sale that do not meet the above 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 and adverse conditions related to the security, among other factors. If this assessment 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 the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of tax. The Company elected the practical expedient of zero loss estimates for securities issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major agencies, and have a long history of no credit losses.

Discounts on securities are amortized/accreted to maturity using the interest method. Premiums on securities are amortized to maturity or the earliest call date for callable securities using the interest method. Interest and dividend income on securities, which includes amortization of premiums and accretion of discounts, are recognized in the consolidated financial statements when earned.

Loans Held for Sale

Loans Held For Sale

Loans held for sale consist primarily of residential mortgage loans intended for sale and are carried at the lower of cost or estimated fair market value using the aggregate method. These loans are generally sold with servicing rights released. Gains and losses recognized on loan sales are based upon the cash proceeds received and the amortized cost of the related loans sold.

Loans Receivable

Loans receivable are stated at unpaid principal balances, less net deferred loan origination fees and the allowance for credit losses. Loan origination fees and certain direct loan origination costs are deferred and amortized/accreted, as an adjustment of yield, over the contractual lives of the related loans.

Generally, the accrual of interest on loans that are contractually delinquent more than ninety days is discontinued and the related loans are placed on nonaccrual status. All payments received while in nonaccrual status, are applied to principal until the loan has performed as expected for a minimum of six (6) months or until the loan is determined to qualify for return to normal accruing status. Loans may be returned to accrual status when all the principal and interest contractually due are brought current and future payments are reasonably assured.

Concentration of Risk

Financial instruments which potentially subject the Company and its subsidiaries to concentrations of credit risk consist of cash and cash equivalents, investment and mortgage-backed securities and loans.

Cash and cash equivalents include amounts placed with highly rated financial institutions. Securities include securities backed by the U.S. Government and other highly rated instruments. The Bank’s lending activity is primarily concentrated in loans collateralized by real estate in the State of New Jersey and the New York metropolitan area as a result, credit risk related to loans is broadly dependent on the real estate market and general economic conditions in the area.

Allowance for Credit losses

The allowance for credit losses represents the estimated amount considered necessary to cover lifetime expected credit losses inherent in financial assets at the balance sheet date. The measurement of expected credit losses is applicable to loans receivable and securities measured at amortized cost. It also applies to off-balance sheet credit exposures such as loan commitments and unused lines of credit. The allowance is established through a provision for credit losses that is charged against income. The methodology for determining the allowance for credit losses is considered a critical accounting policy by management because of the high degree of judgment involved, the subjectivity of the assumptions used, and the potential for changes in the forecasted economic environment that could result in changes to the amount of the recorded allowance for credit losses. The allowance for credit losses on loans is reported separately as a contra-asset on the consolidated statements of financial condition. The expected credit loss for unfunded lending commitments and unfunded loan commitments is reported on the consolidated statements of financial condition in other liabilities while the provision for credit losses related to unfunded commitments is reported in other non-interest expense.

Allowance for Credit Losses on Loans Receivable

The allowance for credit losses on loans is deducted from the amortized cost basis of the loan to present the net amount expected to be collected. Expected losses are evaluated and calculated on a collective, or pooled, basis for those loans which share similar risk characteristics. If the loan does not share risk characteristics with other loans, the Company will evaluate the loan on an individual basis. Individually evaluated loans are primarily nonaccrual and collateral dependent loans. Furthermore, the Company evaluates the pooling methodology at least annually to ensure that loans with similar risk characteristics are pooled appropriately. Loans are charged off against the allowance for credit losses when the Company believes the balances to be uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged off or expected to be charged off.

The Company has chosen to segment its portfolio consistent with the manner in which it manages credit risk. The Company calculates estimated credit losses for these loan segments using quantitative models and qualitative factors. Further information on loan segmentation and the credit loss estimation is included in Note 5 – Loans Receivable and Allowance for Credit Losses.

Individually Evaluated Loans

On a case-by-case basis, the Company may conclude that a loan should be evaluated on an individual basis based on its disparate risk characteristics. When the Company determines that a loan no longer shares similar risk characteristics with other loans in the portfolio, the allowance will be determined on an individual basis using the present value of expected cash flows or, for collateral-dependent loans, the fair value of the collateral as of the reporting date, less estimated selling costs, as applicable. If the fair value of the collateral is less than the amortized cost basis of the loan, the Company will charge off the difference between the fair value of the collateral, less costs to sell at the reporting date and the amortized cost basis of the loan.

Allowance for Credit Losses on Off-Balance Sheet Commitments

The Company is required to include unfunded commitments that are expected to be funded in the future within the allowance calculation, other than those that are unconditionally cancelable. To arrive at that reserve, the reserve percentage for each applicable segment is applied to the unused portion of the expected commitment balance and is multiplied by the expected funding rate. As noted above, the allowance for credit losses on unfunded loan commitments is included in other liabilities on the consolidated statements of financial condition and the related credit expense is recorded in other non-interest expense in the consolidated statements of operations.

Allowance for Credit Losses on Available-for-Sale Securities

For available-for-sale securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more than 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 securities available-for-sale that do not meet the above 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 and adverse conditions related to the security, among other factors. If this assessment 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 the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of tax. The Company elected the practical expedient of zero loss estimates for securities issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major agencies, and have a long history of no credit losses.

Accrued Interest Receivable

The Company made an accounting policy election to exclude accrued interest receivable from the amortized cost basis of loans and available-for-sale securities. Accrued interest receivable on loans and securities is reported as a component of accrued interest receivable on the consolidated statements of financial condition.

Premises and Equipment

Land is carried at cost. Buildings, building improvements, leasehold improvements and furniture, fixtures and equipment are carried at cost less accumulated depreciation and amortization. Significant renovations and additions are charged to the property and equipment account. Maintenance and repairs are charged to expense in the period incurred. Depreciation charges are computed on the straight-line method over the following estimated useful lives of each type of asset.



	Buildings		40
	Building improvements		7 - 40
	Furniture, fixtures and equipment		5 - 7
	Leasehold improvements		Shorter of useful life or term of lease

Federal Home Loan Bank of New York Stock

Federal law requires a member institution of the FHLB system to purchase and hold restricted stock of its district FHLB according to a predetermined formula. Such stock is carried at cost. The Company reviews for impairment based on the ultimate recoverability of the cost basis of the stock. No impairment charges were recorded related to the FHLB of New York stock during 2025, 2024 or 2023.

Other Real Estate Owned

Assets acquired through, or in lieu of, loan foreclosures are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Costs relating to development and improvement of property are capitalized, whereas costs relating to the holding of property are expensed. At December 31, 2025, the Bank owned one foreclosed property totaling $5.0 million. At December 31, 2024, the Bank owned no foreclosed properties.

Interest Rate Risk

The Bank is principally engaged in the business of attracting deposits from the general public and using these deposits, together with other funds, to make loans primarily secured by real estate and to purchase securities. The potential for interest-rate risk exists as a result of the difference in duration of the Bank’s interest-sensitive liabilities compared to its interest-sensitive assets. For this reason, management regularly monitors the maturity structure of the Bank’s interest-earning assets and interest-bearing liabilities in order to measure its level of interest-rate risk and to plan for future volatility.

Fair Value Hierarchy

Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

Mortgage Servicing Rights

The Company recognizes as separate assets the rights to service mortgage loans for others. The right to service loans for others is generally obtained through the sale of loans with servicing retained. The initial asset recognized for originated mortgage servicing rights (“MSR”) is measured at fair value. The estimated fair value of MSR is obtained through independent third-party valuations through an analysis of future cash flows, incorporating assumptions market participants would use in determining fair value including market discount rates, prepayment speeds, servicing income, servicing costs, default rates and other market driven data, including the market’s perception of future interest rate movements. MSR are amortized in proportion to and over the period of estimated net servicing income. We apply the amortization method for measurements of our MSR. MSR are assessed for impairment based on fair value at each reporting date. MSR impairment, if any, is recognized in a valuation allowance through charges to earnings as a component of fees and service charges. Subsequent increases in the fair value of impaired MSR are recognized only up to the amount of the previously recognized valuation allowance. Fees earned for servicing loans are reported as income when the related mortgage loan payments are collected.

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.

Bank-Owned Life Insurance

Bank-Owned Life Insurance policies are reflected on the consolidated statements of financial condition at cash surrender value. Changes in the net cash surrender value of the policies, as well as insurance proceeds received in excess of carrying value, are reflected in non-interest income on the consolidated statements of operations and are not subject to income taxes.

Goodwill and Other Intangible Assets

Goodwill resulting from a business combination is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired as of the acquisition date. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized but tested for impairment at least annually.

The Company conducts impairment analysis on goodwill at least annuallyor more often as conditions require. The Company reported a net loss in the first quarter of 2025 and observed a sustained decline in its stock price. Under ASC 350-20-35-30, management considered this a triggering event and performed an interim impairment assessment of goodwill as of May 31, 2025. The results of the analysis determined that there was no impairment needed.

As a result of the net loss for the year ending December 31, 2025, the Company conducted a quantitative assessment of goodwill as of December 31, 2025, and determined that it was more likely than not that goodwill was not impaired. Accordingly, there was no impairment at December 31, 2025. Refer to the Critical Accounting Estimates for additional details.

Income Taxes

The Company and its subsidiaries file a consolidated federal income tax return. Income taxes are allocated to the Company and its subsidiaries based upon their respective income or loss included in the consolidated income tax return. Separate state income tax returns are filed by the Company and its subsidiaries.

Federal and state income tax expense has been provided on the basis of reported income. The amounts reflected on the tax returns differ from these provisions due principally to temporary differences in the reporting of certain items for financial reporting and income tax reporting purposes. The tax effect of these temporary differences is accounted for as deferred taxes applicable to future periods. Deferred income tax expense or (benefit) is determined by recognizing deferred tax assets and liabilities for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. The realization of deferred tax assets is assessed and a valuation allowance provided, when necessary, for that portion of the asset which is not more likely than not to be realized.

The Company accounts for uncertainty in income taxes recognized in the consolidated financial statements in accordance with ASC Topic 740, Income Taxes, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more likely than not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, which would give rise to the non-recognition of an existing tax benefit. The Company recognizes interest and penalties on unrecognized tax benefits in income taxes expense in the consolidated statements of operations. The Company did not recognize any interest and penalties for the years ended December 31, 2025, 2024, or 2023. The tax years subject to examination by the Federal taxing authority are the years ended December 31, 2024, 2023, and 2022. The tax years subject to examination by the State taxing authorities are the years ended December 31, 2024, 2023, and 2022.

Rollforward of Shares Outstanding of Common and Preferred Stock

The Company maintains various classes of equity securities. Common stock is issued without par value. Preferred stock has a par value of $0.01 per share; however, because the par value is not meaningful to the amounts involved, the Company presents only share counts in the rollforward below. Share activity includes issuances under share-based compensation plans, dividend reinvestment plan (“DRIP”) issuances, and repurchases of common stock under authorized programs. The following tables summarize changes in shares outstanding for each class of stock for the periods presented.


	For the Year Ended December 31,
	2025	2024	2023
Common Stock (shares)
Beginning Shares	17,062,777	16,904,323	16,930,979
Shares Issued - stock options	-	167	53,731
Shares Issued - DRIP	169,762	108,287	77,797
Restricted Stock Grants	43,773	50,000	108,569
Restricted Stock Forfeitures	(2,100)	-	-
Treasury Stock Purchased	-	-	(266,753)
Ending Shares	17,274,212	17,062,777	16,904,323

	For the Year Ended December 31,
	2025	2024	2023
Preferred Stock (shares)
Beginning Shares	2,496	2,528	2,124
Shares Issued - Series J	-	472	1,527
Shares Issued - Series K	52	497	-
Shares Redeemed - Series H	-	-	(1,123)
Shares Redeemed - Series I	-	(1,001)	-
Ending Shares	2,548	2,496	2,528

Net Income per Common Share

‎

Note 2 – Summary of Significant Accounting Policies (continued)

Net Income per Common Share

Basic net income per common share is computed by dividing net income less dividends on preferred stock by the weighted average number of shares of common stock outstanding. The diluted net income per common share is computed by adjusting the weighted average number of shares of common stock outstanding to include the effects of outstanding stock options, if dilutive, using the treasury stock method. Dilution is not applicable in periods of net loss. For the years ended December 31, 2025, 2024, and 2023 the difference in the weighted average number of basic and diluted common shares was due solely to the effects of outstanding stock options. No adjustments to net income were necessary in calculating basic and diluted net income per share. For the years ended December 31, 2025, 2024, and 2023, the Company had 876,000, 436,000 and 6,476 shares considered to be anti-dilutive, respectively.



	For the Year Ended December 31,
	2025					2024					2023
		Net Income	Shares		Per Share		Net Income	Shares		Per Share		Net Income	Shares		Per Share
		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, Except per share data)
Net (loss) income	$	(12,527)				$	18,623				$	29,483
Basic earnings per share-
(Loss) Income available to
Common stockholders	$	(14,456)	17,186	$	(0.84)	$	16,791	17,007	$	0.99	$	28,781	16,870	$	1.71
Effect of dilutive securities:
Stock options			-					11					62
Diluted earnings per share-
Income available to
Common stockholders	$	(14,456)	17,186	$	(0.84)	$	16,791	17,018	$	0.99	$	28,781	16,932	$	1.70

Stock-Based Compensation Plans

The Company, under plans approved by its stockholders in 2023, 2018, and 2011, has granted stock options to employees and outside directors. See Note 12 for additional information as to option grants. Compensation expense recognized for option grants is net of estimated forfeitures and is recognized over the awards’ respective requisite service periods. The fair values relating to options granted are estimated using a Black-Scholes option pricing model. Expected volatilities are based on historical volatility of the Company’s stock and other factors, such as implied market volatility using the respective options’ expected term. The Company used the mid-point of the original vesting period and original option life to estimate the options’ expected term, which represents the period of time that the options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The Company recognizes compensation expense for the fair values of option awards, which have graded vesting, on a straight-line basis.

Benefit Plans

The Company acquired, through the merger with Pamrapo Bancorp, Inc., a non-contributory defined benefit pension plan covering all eligible employees of Pamrapo Savings Bank. Effective January 1, 2010, the defined benefit pension plan (the “Pension Plan”), was frozen by Pamrapo Savings Bank. All benefits for eligible participants accrued in the Pension Plan to January 1, 2010, have been retained. The benefits are based on years of service and employee’s compensation. The Pension Plan is funded in conformity with funding requirements of applicable government regulations. Prior service costs for the Pension Plan generally are amortized over the estimated remaining service periods of employees.

The Bank entered into a Supplemental Executive Retirement Agreement (the “SERP Agreement”) with its previous Chief Executive Officer (“the CEO”) in December 2021. The SERP Agreement provides the CEO with supplemental retirement income payable in the form of a life annuity. The monthly benefit payment is $10,000 and payments commenced in February 2025. The amount charged to expense follows the vesting schedule in the SERP Agreement and was $95,000, $45,000, and $350,000 during the years ended December 31, 2025, 2024 and 2023, respectively.

Operating Segments

The Company operates as a single reportable segment under ASC 280, as the Chief Operating Decision Maker (CODM) reviews financial performance and allocates resources based on the consolidated results of the Company as a whole. The Company, through its bank subsidiary, provides banking services to individuals and companies primarily in New Jersey and New York. These services include commercial lending, residential lending, and consumer lending, checking, savings and time deposits, and cash management. The CODM primarily evaluates performance using net interest income and net income as reported in the consolidated statement of operations. The Company’s primary measure of profitability is net interest income, which represents interest earned on loans and investment securities, net of interest expense on deposits and borrowings. In addition, the CODM considers net income as a key measure of overall financial performance. The Company’s CODM is the President & Chief Executive Officer.

Other performance indicators regularly reviewed by management include:

Net Interest Margin (NIM) – Measures the profitability of interest-earning assets.

Return on Assets (ROA) and Return on Equity (ROE) – Evaluates efficiency and shareholder returns.

Efficiency Ratio – Assesses cost management by comparing non-interest expense to total revenue.

Comprehensive Income (Loss)

The Company records unrealized gains and losses, net of deferred income taxes, on securities available-for-sale in accumulated other comprehensive income (loss). Realized gains and losses, if any, are reclassified to non-interest income upon sale of the related securities or upon the recognition of an impairment loss. Accumulated other comprehensive income (loss) also includes benefit plan amounts recognized in accordance with ASC 715, Compensation-Retirement Benefits, which reflect, net of tax, the unrecognized actuarial gains (losses) on the benefit plans.

Reclassification

During the year ended December 31, 2025, the Company revised the presentation of certain loan portfolio categories to better reflect the nature and risk characteristics of the underlying loans. Prior-period amounts have been reclassified to conform to the current-period presentation. These reclassifications had no impact on total loans, the Company’s consolidated results of operations or financial position.

Recent Accounting Pronouncements

In November 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-08, Financial Instruments- Credit Losses (Topic 326): Purchased Loans. The amendment expands the gross-up approach to certain acquired loans defined as “purchased seasoned loans” (PSLs). For PSLs the allowance for credit losses is recognized at acquisition as an adjustment to amortized cost, eliminating Day-1 provision expense. The amendments are expected to enhance comparability and simplify application for institutions acquiring loan portfolios. The update is effective for annual periods beginning after December 15, 2026. Early adoption is permitted. The Company does not anticipate adoption having an impact on the consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures. The ASU is intended to enhance the transparency of income tax disclosures, primarily related to the rate reconciliation and income taxes paid information. The amendments in this ASU require a tabular reconciliation using both percentages and reporting currency amounts, with prescribed categories and separate disclosure of reconciling items with an effect equal to 5% or more of the amount determined by multiplying pretax income (or loss) from continuing operations by the applicable statutory income tax rate; a qualitative description of the states and local jurisdictions that make up the majority (greater than 50%) of the effect of the state and local income taxes; and the amount of income taxes paid, net of refunds received, disaggregated by federal, state, and foreign taxes and by individual jurisdictions when 5% or more of total income taxes paid, net of refunds received. The ASU also includes other amendments to improve the effectiveness of income tax disclosures. The update is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The transition method is prospective with retrospective method permitted. The adoption of ASU 2023-09 did not have an impact on its consolidated financial statements.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Summary of Significant Accounting Policies [Abstract]

Summary of Useful Lives of Property, Plant and Equipment



	Buildings		40
	Building improvements		7 - 40
	Furniture, fixtures and equipment		5 - 7
	Leasehold improvements		Shorter of useful life or term of lease

Schedule of Changes in Shares Outstanding


	For the Year Ended December 31,
	2025	2024	2023
Common Stock (shares)
Beginning Shares	17,062,777	16,904,323	16,930,979
Shares Issued - stock options	-	167	53,731
Shares Issued - DRIP	169,762	108,287	77,797
Restricted Stock Grants	43,773	50,000	108,569
Restricted Stock Forfeitures	(2,100)	-	-
Treasury Stock Purchased	-	-	(266,753)
Ending Shares	17,274,212	17,062,777	16,904,323

	For the Year Ended December 31,
	2025	2024	2023
Preferred Stock (shares)
Beginning Shares	2,496	2,528	2,124
Shares Issued - Series J	-	472	1,527
Shares Issued - Series K	52	497	-
Shares Redeemed - Series H	-	-	(1,123)
Shares Redeemed - Series I	-	(1,001)	-
Ending Shares	2,548	2,496	2,528

Schedule of Earnings per Share, Basic and Diluted



	For the Year Ended December 31,
	2025					2024					2023
		Net Income	Shares		Per Share		Net Income	Shares		Per Share		Net Income	Shares		Per Share
		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount		(Numerator)	(Denominator)		Amount
	(In Thousands, Except per share data)
Net (loss) income	$	(12,527)				$	18,623				$	29,483
Basic earnings per share-
(Loss) Income available to
Common stockholders	$	(14,456)	17,186	$	(0.84)	$	16,791	17,007	$	0.99	$	28,781	16,870	$	1.71
Effect of dilutive securities:
Stock options			-					11					62
Diluted earnings per share-
Income available to
Common stockholders	$	(14,456)	17,186	$	(0.84)	$	16,791	17,018	$	0.99	$	28,781	16,932	$	1.70

Securities (Tables)

12 Months Ended

Dec. 31, 2025

Securities [Abstract]

Summary of Disaggregated Net Income (loss) on Equity Securities


		For the Twelve Months Ended December 31, 2025		For the Twelve Months Ended December 31, 2024		For the Twelve Months Ended December 31, 2023
Net (losses) gains recognized during the period on equity securities	$	(300)	$	379	$	(3,361)
Less: Net losses recognized during the period on equity securities sold during the period		-		-		(24)
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date	$	(300)	$	379	$	(3,337)

Amortized Cost and Gross Unrealized Gains and Losses on Securities Available for Sale


	December 31, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential Mortgage-backed securities:
More than one to five years	$	754	$	-	$	23	$	731
More than five to ten years		1,787		-		64		1,723
More than ten years		74,040		591		2,599		72,032
Sub-total:		76,581		591		2,686		74,486

Corporate Debt Securities:
More than one to five years		15,791		99		194		15,696
More than five to ten years		32,274		135		1,209		31,200
More than ten years		5,000		13		-		5,013
Sub-total:		53,065		247		1,403		51,909

Total Debt Securities Available-for-Sale	$	129,646	$	838	$	4,089	$	126,395

Note 4- Securities (continued)


	December 31, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses		Fair Value
	(In Thousands)
Residential Mortgage-backed securities
More than one to five years	$	1,286	$	-	$	57	$	1,229
More than five to ten years		2,395		-		135		2,260
More than ten years		45,345		188		3,508		42,025
Sub-total:		49,026		188		3,700		45,514

Corporate Debt Securities:
More than one to five years		37,488		-		1,081		36,407
More than five to ten years		22,076		-		2,280		19,796
Sub-total:		59,564		-		3,361		56,203

Total Debt Securities Available-for-Sale	$	108,590	$	188	$	7,061	$	101,717

Available for Sale Securities, Continuous Unrealized Loss Position, Fair Value


	Less than 12 Months				More than 12 Months				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(In Thousands)
December 31, 2025
Residential mortgage-backed securities	$	10,908	$	37	$	27,036	$	2,649	$	37,944	$	2,686
Corporate Debt Securities		-		-		30,859		1,403		30,859		1,403
	$	10,908	$	37	$	57,895	$	4,052	$	68,803	$	4,089

December 31, 2024
Residential mortgage-backed securities	$	10,558	$	127	$	24,673	$	3,573	$	35,231	$	3,700
Corporate Debt Securities		2,985		19		51,918		3,342		54,903		3,361
	$	13,543	$	146	$	76,591	$	6,915	$	90,134	$	7,061

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Loans Receivable and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2025

Loans Receivable and Allowance for Credit Losses [Abstract]

Recorded Investment in Loans Receivable

The following table presents the recorded investment in loans receivable at December 31, 2025 and December 31, 2024 by segment and class:



	December 31, 2025		December 31, 2024
	(In Thousands)
Loans:
Residential one-to-four family	$	226,708	$	239,870
Commercial and multi-family ⁽¹⁾		2,040,768		2,155,929
Cannabis related ⁽²⁾		69,293		103,206
Construction ⁽¹⁾		68,521		130,589
Commercial business ^{(1) (3)}		168,459		242,239
Business express		74,862		92,947
Home equity ⁽⁴⁾		74,332		66,769
Consumer		3,580		2,235
Total Loans		2,726,523		3,033,784
Less:
Deferred loan fees, net		(1,741)		(2,736)
Allowance for credit losses		(33,691)		(34,789)
		(35,432)		(37,525)
Total Loans, net	$	2,691,091	$	2,996,259

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Related Party Loans



	Years Ended December 31,
		2025		2024
	(In Thousands)
Balance - beginning	$	26,505	$	28,208
Loans originated		-		-
Changes in related party status		(57)		-
Collections of principal		(551)		(1,703)
Balance - ending	$	25,897	$	26,505

Allowance for Credit Losses on loans

The following tables set forth the activity in the Bank’s allowance for credit losses and recorded investment in loans receivable at December 31, 2025, December 31, 2024 and December 31, 2023. The table also details the amount of total loans receivable, which are evaluated individually and collectively, for credit losses, and the related portion of the allowance for credit losses that is allocated to each loan class (In Thousands):


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business⁽¹⁾ ⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2025	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Charge-offs		-		(419)		(13,520)		-		(19,457)		(11,328)		-		-		(44,724)
Recoveries		75		-		-		-		7		1,533		-		-		1,615
Provision (benefit)		(246)		2,025		13,384		(1,234)		15,629		12,416		38		(1)		42,011
Ending Balance, December 31, 2025	$	1,776	$	12,057	$	1,477	$	668	$	6,676	$	10,390	$	632	$	15	$	33,691

Ending Balance attributable to loans:
Individually evaluated	$	-	$	2,657	$	-	$	-	$	2,938	$	998	$	-	$	-	$	6,593
Collectively evaluated		1,776		9,400		1,477		668		3,738		9,392		632		15		27,098
Ending Balance, December 31, 2025	$	1,776	$	12,057	$	1,477	$	668	$	6,676	$	10,390	$	632	$	15	$	33,691

Loans Receivable:
Individually evaluated	$	1,392	$	130,581	$	-	$	18,888	$	10,073	$	998	$	294	$	-	$	162,226
Collectively evaluated		225,316		1,910,187		69,293		49,633		158,386		73,864		74,038		3,580		2,564,297
Total Gross Loans, December 31, 2025	$	226,708	$	2,040,768	$	69,293	$	68,521	$	168,459	$	74,862	$	74,332	$	3,580	$	2,726,523

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The decrease in the allowance for credit losses on loans during the year ended December 31, 2025 was primarily due to a decrease in reserves on individually evaluated loans offset by an increase in reserves on collectively evaluated business express loans.

‎

Note 5- Loans Receivable and Allowance for Credit Losses (continued)


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business^{(1) (3)}		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2024	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	33,608

Charge-offs		-		(531)		-		-		(1,799)		(8,038)		-		(467)		(10,835)
Recoveries		48		-		-		-		371		27		-		-		446
Provision (benefit)		(445)		(4,361)		(731)		(1,856)		7,417		11,238		(97)		405		11,570
Ending Balance, December 31, 2024	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Ending Balance attributable to loans:
Individually evaluated	$	-	$	1,473	$	-	$	-	$	4,725	$	5,619	$	-	$	-	$	11,817
Collectively evaluated		1,947		8,978		1,613		1,902		5,772		2,150		594		16		22,972
Ending Balance, December 31, 2024	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Loans Receivable:
Individually evaluated	$	853	$	64,735	$	-	$	586	$	11,163	$	5,619	$	443	$	-	$	83,399
Collectively evaluated		239,017		2,091,194		103,206		130,003		231,076		87,328		66,326		2,235		2,950,385
Total Gross Loans, December 31, 2024	$	239,870	$	2,155,929	$	103,206	$	130,589	$	242,239	$	92,947	$	66,769	$	2,235	$	3,033,784

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾ ⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Unallocated		Total
Allowance for credit losses:
Ending Balance, December 31, 2022		2,474		21,381		402		2,073		4,482		872		485		24		180		32,373
Effect of adopting ASU No. 2016-13 ("CECL")		144		(6,953)		(145)		1,369		1,727		(316)		182		7		(180)		(4,165)
Beginning Balance, January 1, 2023	$	2,618	$	14,428	$	257	$	3,442	$	6,209	$	556	$	667	$	31	$	-	$	28,208

Charge-offs:		-		-		-		-		-		(805)		-		-		-		(805)
Recoveries:		45		-		-		-		29		11		16		-		-		101
Provision (benefit):		(319)		915		2,087		316		(1,730)		4,780		8		47		-		6,104
Ending Balance, December 31, 2023	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	-	$	33,608

Ending Balance attributable to loans:
Individually evaluated	$	-	$	990	$	1,157	$	310	$	975	$	797	$	-	$	-	$	-	$	4,229
Collectively evaluated		2,344		14,353		1,187		3,448		3,533		3,745		691		78		-		29,379
Ending Balance, December 31, 2023	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	-	$	33,608

Loans Receivable:
Individually evaluated	$	444	$	40,417	$	5,342	$	2,898	$	3,909	$	797	$	212	$	-	$	-	$	54,019
Collectively evaluated		247,851		2,299,039		103,619		185,035		255,946		102,131		66,119		3,643		-		3,263,383
Total Gross Loans, December 31, 2023	$	248,295	$	2,339,456	$	108,961	$	187,933	$	259,855	$	102,928	$	66,331	$	3,643	$	-	$	3,317,402

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Allowance for Credit Losses on Off-Balance Sheet Exposures


	Twelve Months Ended December 31,
		2025		2024		2023
	(in Thousands)
Allowance for Credit Losses:
Beginning Balance	$	813	$	694	$	-
Impact of adopting ASU No. 2016-13 ("CECL") effective January 1, 2023		-		-		1,266
Provision (benefit) for credit losses		17		119		(572)
	$	830	$	813	$	694

Non-Accruing Loans


	As of December 31, 2025
	(in Thousands)
		Nonaccrual loans with an Allowance for Credit Losses		Nonaccrual loans without an Allowance for Credit Losses		Total Nonaccrual loans		Amortized Cost of Loans Past Due 90 Days and Still Accruing
Residential one-to-four family	$	-	$	1,554	$	1,554	$	-
Commercial and multi-family ⁽¹⁾		2,500		49,659		52,159		-
Cannabis related ⁽²⁾		-		-		-		-
Construction ⁽¹⁾		-		4,897		4,897		-
Commercial business ⁽¹⁾ ⁽³⁾		1,660		2,065		3,725		-
Business express		626		-		626		-
Home equity ⁽⁴⁾		-		294		294		-
Total	$	4,786	$	58,469	$	63,255	$	-

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	As of December 31, 2024
	(in Thousands)
		Nonaccrual loans with an Allowance for Credit Losses		Nonaccrual loans without an Allowance for Credit Losses		Total Nonaccrual loans		Amortized Cost of Loans Past Due 90 Days and Still Accruing
Residential one-to-four family	$	534	$	853	$	1,387	$	-
Commercial and multi-family ⁽¹⁾		4,823		28,151		32,974		6,049
Cannabis related ⁽²⁾		-		-		-		-
Construction ⁽¹⁾		-		586		586		-
Commercial business ⁽¹⁾ ⁽³⁾		5,208		2,425		7,633		-
Business express		1,706		191		1,897		1,677
Home equity ⁽⁴⁾		-		231		231		-
Total	$	12,271	$	32,437	$	44,708	$	7,726

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Delinquency Status of Total Loans


					Greater Than
	30-59 Days		60-90 Days		90 Days		Total Past				Total Loans
	Past Due		Past Due		Past Due		Due		Current		Receivable
		(In Thousands)
Residential one-to-four family	$	4,342	$	279	$	594	$	5,215	$	221,493	$	226,708
Commercial and multi-family ⁽¹⁾		17,600		3,296		51,979		72,875		1,967,893		2,040,768
Cannabis related ⁽²⁾		-		-		-		-		69,293		69,293
Construction ⁽¹⁾		-		-		4,897		4,897		63,624		68,521
Commercial business ⁽¹⁾ ⁽³⁾		8,583		1,041		2,975		12,599		155,860		168,459
Business express		1,961		-		-		1,961		72,901		74,862
Home equity ⁽⁴⁾		1,289		65		231		1,585		72,747		74,332
Consumer		-		-		-		-		3,580		3,580
Total	$	33,775	$	4,681	$	60,676	$	99,132	$	2,627,391	$	2,726,523

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The following table sets forth the delinquency status of total loans receivable at December 31, 2024:



					Greater Than
	30-59 Days		60-90 Days		90 Days		Total Past				Total Loans
	Past Due		Past Due		Past Due		Due		Current		Receivable
		(In Thousands)
Residential one-to-four family	$	3,229	$	-	$	302	$	3,531	$	236,339	$	239,870
Commercial and multi-family ⁽¹⁾		8,279		2,673		30,903		41,855		2,114,074		2,155,929
Cannabis related ⁽²⁾		-		-		-		-		103,206		103,206
Construction ⁽¹⁾		-		1,829		586		2,415		128,174		130,589
Commercial business ⁽¹⁾ ⁽³⁾		9,125		580		3,795		13,500		228,739		242,239
Business express		6,714		3,452		3,141		13,307		79,640		92,947
Home equity ⁽⁴⁾		1,846		18		231		2,095		64,674		66,769
Consumer		-		-		-		-		2,235		2,235
Total	$	29,193	$	8,552	$	38,958	$	76,703	$	2,957,081	$	3,033,784

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Amortized Cost Basis Of Loans Modified


	For the Twelve Months Ended December 31, 2025
	(In Thousands)
	Number		Payment Delay		Term Extension		Rate & Term Reduction		Total Principal	% of Total Class of Financing Receivable
Residential	1	$	162	$	-	$	-	$	162	0.07	%
Commercial and multi-family	1		-		25,523		-		25,523	1.25
Commercial business	5		-		717		344		1,061	0.63
Business express	97		-		20,008		-		20,008	26.73
	104	$	162	$	46,248	$	344	$	46,754	1.71


	For the Twelve Months Ended December 31, 2024
	(In Thousands)
	Number		Payment Delay		Term Extension		Rate & Term Reduction		Total Principal	% of Total Class of Financing Receivable
Residential	1	$	173	$	-	$	-	$	173	0.07	%
Commercial and multi-family	1		-		-		15,036		15,036	0.67
Commercial business	1		1,294		-		-		1,294	0.52
Business express	276		-		63,299		-		63,299	68.10
	279	$	1,467	$	63,299	$	15,036	$	79,802	2.63

Loans Modifications



	For the Twelve Months Ended December 31, 2025
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total
Residential	$	-	$	-	$	-	$	-	$	162	$	162
Commercial and multi-family		25,523		-		-		-		-		25,523
Commercial business		394		244		-		-		667		1,305
Business express		19,138		-		-		-		626		19,764
	$	45,055	$	244	$	-	$	-	$	1,455	$	46,754


	For the Twelve Months Ended December 31, 2024
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total
Residential	$	-	$	173	$	-	$	-	$	-	$	173
Commercial and multi-family		15,036		-		-		-		-		15,036
Commercial business		-		-		-		-		1,294		1,294
Business express		62,791		74		-		-		434		63,299
	$	77,827	$	247	$	-	$	-	$	1,728	$	79,802

Loan Portfolio by Pass Rating


Loans by Year of Origination at December 31, 2025
		2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	10,255	$	11,887	$	15,164	$	43,691	$	33,586	$	107,069	$	-	$	-	$	221,652
Special Mention		-		-		-		1,802		910		790		-		-		3,502
Substandard		-		-		-		-		445		1,109		-		-		1,554
Total one-to-four family	$	10,255	$	11,887	$	15,164	$	45,493	$	34,941	$	108,968	$	-	$	-	$	226,708

Commercial and multi-family ⁽¹⁾
Pass	$	50,098	$	8,293	$	184,486	$	613,331	$	151,205	$	773,732	$	8,760	$	-	$	1,789,905
Special Mention		-		-		-		28,029		11,307		58,141		-		-		97,477
Substandard		-		-		1,633		68,011		18,795		64,807		140		-		153,386
Total Commercial and multi-family	$	50,098	$	8,293	$	186,119	$	709,371	$	181,307	$	896,680	$	8,900	$	-	$	2,040,768

Cannabis related ⁽²⁾
Pass	$	-	$	-	$	-	$	8,385	$	2,067	$	7,958	$	8,050	$	-	$	26,460
Special Mention		-		-		18,981		17,552		5,442		-		858		-		42,833
Substandard		-		-		-		-		-		-		-		-		-
Total Cannabis Related	$	-	$	-	$	18,981	$	25,937	$	7,509	$	7,958	$	8,908	$	-	$	69,293

Construction ⁽¹⁾
Pass	$	917	$	2,004	$	15,752	$	19,460	$	4,403	$	-	$	4,803	$	-	$	47,339
Special Mention		-		-		2,294		-		-		-		-		-		2,294
Substandard		-		-		-		15,715		2,587		586		-		-		18,888
Total Construction	$	917	$	2,004	$	18,046	$	35,175	$	6,990	$	586	$	4,803	$	-	$	68,521

Commercial business ^{(1) (3)}
Pass	$	-	$	7,388	$	1,995	$	4,829	$	1,039	$	24,455	$	93,029	$	-	$	132,735
Special Mention		-		-		-		-		1,458		2,358		18,153		-		21,969
Substandard		-		-		-		-		-		2,047		11,708		-		13,755
Total Commercial business	$	-	$	7,388	$	1,995	$	4,829	$	2,497	$	28,860	$	122,890	$	-	$	168,459

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$		$	71,843	$	71,843
Special Mention		-		-		-		-		-		-				2,021		2,021
Substandard		-		-		-		-		-		-		397		601		998
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	397	$	74,465	$	74,862

Home equity ⁽⁴⁾
Pass	$	1,796	$	164	$	3,293	$	1,246	$	396	$	4,914	$	57,357	$	4,319	$	73,485
Special Mention		-		-		-		-		-		42		511		-		553
Substandard		-		-		-		-		-		114		30		150		294
Total Home equity	$	1,796	$	164	$	3,293	$	1,246	$	396	$	5,070	$	57,898	$	4,469	$	74,332

Consumer
Pass	$	1,824	$	272	$	1,106	$	290	$	2	$	80	$	6	$	-	$	3,580
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	1,824	$	272	$	1,106	$	290	$	2	$	80	$	6	$	-	$	3,580

Total Loans	$	64,890	$	30,008	$	244,704	$	822,341	$	233,642	$	1,048,202	$	203,802	$	78,934	$	2,726,523

Gross charge-offs	$	-	$	-	$	-	$	12,836	$	282	$	3,848	$	18,166	$	9,592	$	44,724

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Note 5 - Loans Receivable and Allowance for Credit Losses (continued)


Loans by Year of Origination at December 31, 2024
		2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	12,059	$	16,586	$	47,544	$	37,639	$	28,550	$	92,376	$	-	$	-	$	234,754
Special Mention		-		-		3,555		-		-		174		-		-		3,729
Substandard		-		-		301		173		-		913		-		-		1,387
Total one-to-four family	$	12,059	$	16,586	$	51,400	$	37,812	$	28,550	$	93,463	$	-	$	-	$	239,870

Commercial and multi-family ⁽¹⁾
Pass	$	9,105	$	183,547	$	604,868	$	154,968	$	158,029	$	709,239	$	2,610	$	-	$	1,822,366
Special Mention		-		-		108,076		37,600		9,232		47,756		140		-		202,804
Substandard		-		10,115		33,958		13,027		11,782		61,877		-		-		130,759
Total Commercial and multi-family	$	9,105	$	193,662	$	746,902	$	205,595	$	179,043	$	818,872	$	2,750	$	-	$	2,155,929

Cannabis related ⁽²⁾
Pass	$	-	$	19,384	$	26,626	$	2,129	$	8,213	$	-	$	6,863	$	-	$	63,215
Special Mention		-		9,761		24,636		4,844		-		-		750		-		39,991
Substandard		-		-		-		-		-		-		-		-		-
Total Cannabis related	$	-	$	29,145	$	51,262	$	6,973	$	8,213	$	-	$	7,613	$	-	$	103,206

Construction ⁽¹⁾
Pass	$	4	$	34,906	$	37,624	$	-	$	-	$	-	$	5,824	$	-	$	78,358
Special Mention		-		1,521		3,792		42,330		3,745		-		-		-		51,388
Substandard		-		257		-		-		586		-		-		-		843
Total Construction	$	4	$	36,684	$	41,416	$	42,330	$	4,331	$	-	$	5,824	$	-	$	130,589

Commercial business ^{(1) (3)}
Pass	$	-	$	2,477	$	266	$	475	$	3,711	$	28,902	$	156,581	$	663	$	193,075
Special Mention		-		8,874		-		1,878		194		4,835		19,548		409		35,738
Substandard		-		-		-		-		-		5,884		7,542		-		13,426
Total Commercial business	$	-	$	11,351	$	266	$	2,353	$	3,905	$	39,621	$	183,671	$	1,072	$	242,239

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	23,739	$	59,189	$	82,928
Special Mention		-		-		-		-		-		-		1,506		2,894		4,400
Substandard		-		-		-		-		-		-		3,082		2,537		5,619
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	28,327	$	64,620	$	92,947

Home equity ⁽⁴⁾
Pass	$	300	$	3,767	$	1,369	$	501	$	549	$	5,754	$	51,829	$	2,186	$	66,255
Special Mention		-		-		-		-		-		18		-		-		18
Substandard		-		-		53		-		81		-		-		362		496
Total Home equity	$	300	$	3,767	$	1,422	$	501	$	630	$	5,772	$	51,829	$	2,548	$	66,769

Consumer
Pass	$	623	$	1,117	$	389	$	5	$	95	$	-	$	6	$	-	$	2,235
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	623	$	1,117	$	389	$	5	$	95	$	-	$	6	$	-	$	2,235

Total Loans	$	22,091	$	292,312	$	893,057	$	295,569	$	224,767	$	957,728	$	280,020	$	68,240	$	3,033,784

Gross charge-offs	$	446	$	20	$	-	$	174	$	-	$	1,133	$	8,381	$	681	$	10,835

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.
‎

Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2025

Premises and Equipment [Abstract]

Summary of Premises and Equipment



		December 31,
		2025		2024
	(In Thousands)
Land	$	1,646	$	1,646
Buildings and improvements		10,098		10,048
Leasehold improvements		12,500		12,160
Furniture, fixtures and equipment		8,126		8,364
		32,370		32,218
Accumulated depreciation and amortization		(20,314)		(19,649)
	$	12,056	$	12,569

Interest Receivable (Tables)

12 Months Ended

Dec. 31, 2025

Interest Receivable [Abstract]

Summary of Interest Receivable



	December 31,
		2025		2024
	(In Thousands)
Loans	$	12,995	$	14,344
Securities		839		832
	$	13,834	$	15,176

Deposits (Tables)

12 Months Ended

Dec. 31, 2025

Deposits [Abstract]

Schedule of Deposits



	December 31,
		2025		2024
	(In Thousands)
Demand:
Non-interest bearing	$	531,140	$	520,387
Interest bearing		501,172		553,731
Money market		426,138		395,004
		1,458,450		1,469,122
Savings and club		243,670		252,491
Certificates of deposit		971,453		1,029,245
	$	2,673,573	$	2,750,858

Schedule of Maturities of Time Certificates of Deposits


		Amount
2026	$	954,078
2027		13,264
2028		2,286
2029		677
2030		694
Thereafter		454
	$	971,453

Short-Term Debt and Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2025

Subordinated Debt [Abstract]

Short-term Borrowings



	December 31,
			2025			2024

			Amount			Amount
		(In Thousands)
Balance at end of period		$	-		$	-
Average balance outstanding during the year		$	87		$	2
Highest month-end balance during the year		$	30,000		$	-
Average interest rate during the year			4.66	%		6.42	%
Weighted average interest rate at year-end			-	%		-	%

Long Term Debt



		December 31,
		2025				2024
		Weighted Average Rate			Amount ($000s)	Weighted Average Rate			Amount ($000s)
Federal Home Loan Bank Advances:
	Maturing by December 31,
	2025	-	%	$	-		%	$	220,361
	2026	4.53			235,000	4.53			235,000
		4.53	%	$	235,000	4.21	%	$	455,361

Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2025

BCB Community Bank [Member]

Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations


					For Capital Adequacy				To be Well Capitalized under Prompt Corrective
	Actual					Purposes			Action Provisions

		Amount	Ratio			Amount	Ratio			Amount	Ratio
		(Dollars in Thousands)
As of December 31, 2025
Bank
Community Bank Leverage Ratio	$	344,067	10.39	%	$	264,922	8.00	%	$	298,037	9.00	%

As of December 31, 2024
Bank
Community Bank Leverage Ratio	$	363,697	10.03	%	$	290,087	8.00	%	$	326,348	9.00	%

Bancorp [Member]

Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations


					For Capital Adequacy				To be Well Capitalized under Prompt Corrective
	Actual					Purposes			Action Provisions

		Amount	Ratio			Amount	Ratio			Amount	Ratio
		(Dollars in Thousands)
As of December 31, 2025
Bancorp
Total Capital (to Risk-Weighted Assets)	$	377,318	13.43	%	$	224,761	8.00	%	$	280,952	10.00	%
Tier 1 Capital (to Risk-Weighted Assets)		304,541	10.84			168,565	6.00			168,565	6.00
C/E Tier 1 Capital (to Risk-Weighted Assets)		275,174	9.79			126,484	4.50			-	-
Tier 1 Capital (to adjusted total assets)		304,541	9.20			132,409	4.00			-	-


					For Capital Adequacy				To be Well Capitalized under Prompt Corrective
	Actual					Purposes			Action Provisions

		Amount	Ratio			Amount	Ratio			Amount	Ratio
		(Dollars in Thousands)
As of December 31, 2024
Bancorp
Total Capital (to Risk-Weighted Assets)	$	400,591	12.89	%	$	248,621	8.00	%	$	310,777	10.00	%
Tier 1 Capital (to Risk-Weighted Assets)		326,965	10.52			186,482	6.00			186,482	6.00
C/E Tier 1 Capital (to Risk-Weighted Assets)		298,118	9.59			139,889	4.50			-	-
Tier 1 Capital (to adjusted total assets)		326,965	9.02			144,996	4.00			-	-

Benefits Plans (Tables)

12 Months Ended

Dec. 31, 2025

Benefits Plan [Abstract]

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


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

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

Net Periodic Pension and SERP Expense


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

Asset Allocation Parameters by Asset Class



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

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

Schedule of Fair Value of Plan Assets

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



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

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




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