Northeast Community Bancorp (NECB) 10-K 28 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 28, 2024	Jun. 30, 2023
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-40589
Entity Registrant Name	NORTHEAST COMMUNITY BANCORP, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	86-3173858
Entity Address, Address Line One	325 Hamilton Avenue
Entity Address, City or Town	White Plains
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	10601
City Area Code	914
Local Phone Number	684-2500
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	NECB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 195.7
Entity Common Stock, Shares Outstanding		14,065,796
Auditor Firm ID	74
Auditor Name	S.R. Snodgrass, P.C.
Auditor Location	Cranberry Township, Pennsylvania
Entity Central Index Key	0001847398
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($)	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and amounts due from depository institutions	$ 13,394,000	$ 13,210,000
Interest-bearing deposits	55,277,000	82,098,000
Total cash and cash equivalents	68,671,000	95,308,000
Certificates of deposit	100,000	100,000
Equity securities	18,102,000	18,041,000
Securities available-for-sale, at fair value	0	1,000
Securities held-to-maturity (net of allowance for credit losses of $136, fair value of $13,126 and $22,865, respectively)	15,860,000	26,395,000
Loans receivable		1,217,321,000
Loans receivable	1,586,721,000	1,217,321,000
Deferred loan costs, net		372,000
Deferred loan costs, net	176,000
Allowance for credit losses		(5,474,000)
Allowance for credit losses	(5,093,000)	(5,474,000)
Net loans		1,212,219,000
Net loans	1,581,804,000
Premises and equipment, net	25,452,000	26,063,000
Investments in restricted stock, at cost	929,000	1,238,000
Bank owned life insurance	25,082,000	25,896,000
Accrued interest receivable	12,311,000	8,597,000
Goodwill	0	200,000
Real estate owned	1,456,000	1,456,000
Property held for investment	1,407,000	1,444,000
Right of Use Assets - Operating	4,566,000	2,312,000
Right of Use Assets - Financing	351,000	355,000
Other assets	8,044,000	5,338,000
Total assets	1,764,135,000	1,424,963,000
Deposits:
Non-interest bearing	300,184,000	376,302,000
Interest bearing	1,099,852,000	745,653,000
Total deposits	1,400,036,000	1,121,955,000
Advance payments by borrowers for taxes and insurance	2,020,000	2,369,000
Borrowings	64,000,000	21,000,000
Lease Liability - Operating	4,625,000	2,363,000
Lease Liability - Financing	571,000	533,000
Accounts payable and accrued expenses	13,558,000	14,754,000
Total liabilities	1,484,810,000	1,162,974,000
Stockholders' equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 75,000,000 shares authorized; 14,144,856 shares and 16,049,454 shares issued and outstanding, respectively	142,000	161,000
Additional paid-in capital	109,924,000	136,434,000
Unearned Employee Stock Ownership Plan ("ESOP") shares	(6,563,000)	(7,432,000)
Retained earnings	175,505,000	132,670,000
Accumulated other comprehensive income	317,000	156,000
Total stockholders' equity	279,325,000	261,989,000
Total liabilities and stockholders' equity	$ 1,764,135,000	$ 1,424,963,000

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Consolidated Statements of Financial Condition
Securities held-to-maturity, allowance for credit losses	$ 136	$ 136
Securities held-to-maturity, fair value	$ 13,126	$ 22,865
Preferred stock, par value (in $ per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in $ per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	14,144,856	16,049,454
Common stock, shares outstanding (in shares)	14,144,856	16,049,454

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
INTEREST INCOME:
Loans	$ 127,486,000	$ 69,992,000
Interest-earning deposits	4,143,000	1,260,000
Securities	859,000	750,000
Total Interest Income	132,488,000	72,002,000
INTEREST EXPENSE:
Deposits	34,181,000	7,544,000
Borrowings	1,078,000	546,000
Financing lease	38,000	37,000
Total Interest Expense	35,297,000	8,127,000
Net Interest Income	97,191,000	63,875,000
Provision for credit loss	972,000	439,000
Net Interest Income after Provision for Credit Losses	96,219,000	63,436,000
NON-INTEREST INCOME:
Other loan fees and service charges	1,891,000	1,994,000
(Loss) gain on disposition of equipment	(18,000)	98,000
Earnings on bank owned life insurance	1,013,000	604,000
Investment advisory fees	458,000	474,000
Realized and unrealized gain (loss) on equity securities	294,000	(1,573,000)
Other	105,000	86,000
Total Non-Interest Income	3,743,000	1,683,000
NON-INTEREST EXPENSES:
Salaries and employee benefits	18,839,000	15,549,000
Occupancy expense	2,595,000	2,428,000
Equipment	1,055,000	1,107,000
Outside data processing	2,210,000	1,886,000
Advertising	521,000	299,000
Impairment loss on goodwill		451,000
Loss on disposition of business	138,000
Real estate owned expense	93,000	623,000
Other	9,770,000	8,347,000
Total Non-Interest Expenses	35,221,000	30,690,000
INCOME BEFORE PROVISION FOR INCOME TAXES	64,741,000	34,429,000
PROVISION FOR INCOME TAXES	18,465,000	9,586,000
NET INCOME	$ 46,276,000	$ 24,843,000
EARNINGS PER COMMON SHARE - BASIC (in $ per share)	$ 3.32	$ 1.61
EARNINGS PER COMMON SHARE - DILUTED (in $ per share)	$ 3.32	$ 1.58
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC (in shares)	13,930	15,433
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED (in shares)	13,936	15,726

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Consolidated Statements of Comprehensive Income
Net Income (Loss)		$ 46,276	$ 24,843
Reclassification adjustments out of accumulated other comprehensive income:
Amortization of actuarial (gain) loss	[1]	(32)	27
Actuarial gain arising during period		116	353
Total		84	380
Income tax effect		(24)
Tax adjustment - pension liability	[2]	101	(85)
Total other comprehensive income		161	295
Total Comprehensive Income		$ 46,437	$ 25,138
[1] Amounts are included in other expenses in the audited consolidated statements of income as part of net periodic pension cost. See Note 17 for further information. Amounts are included in provision for income taxes in the audited consolidated statements of income.

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands		Common Stock	Additional Paid- in Capital	Unearned ESOP Shares	Retained Earnings Cumulative effect of adoption of ASU 2016-13	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Cumulative effect of adoption of ASU 2016-13	Total
Balance at beginning of period at Dec. 31, 2021		$ 164	$ 145,335	$ (8,301)		$ 114,323	$ (139)		$ 251,382
Balance at beginning of period (shares) at Dec. 31, 2021		16,377,936
Increase (Decrease) in Stockholders' Equity
Net Income (Loss)						24,843			24,843
Other comprehensive income							295		295
Cash dividend declared						(6,496)			(6,496)
Stock Repurchases		$ (7)	(9,311)						(9,318)
Stock Repurchases (shares)		(680,519)
Restricted stock award		$ 4	(4)
Restricted stock award (shares)		352,037
Compensation expense related to restricted stock awards			116						116
Compensation expense related to stock options			92						92
Pension liability	[1]								(85)
ESOP shares earned			206	869					1,075
Balance at end of period at Dec. 31, 2022		$ 161	136,434	(7,432)		132,670	156		261,989
Balance at end of period (shares) at Dec. 31, 2022		16,049,454
Increase (Decrease) in Stockholders' Equity
Net Income (Loss)						46,276			46,276
Other comprehensive income							161		161
Cash dividend declared						(3,342)			(3,342)
Stock Repurchases		$ (19)	(28,691)						(28,710)
Stock Repurchases (shares)		(1,909,476)
Restricted stock award (shares)		4,878
Compensation expense related to restricted stock awards			968						968
Compensation expense related to stock options			768						768
Pension liability	[1]								101
ESOP shares earned			445	869					1,314
Balance at end of period at Dec. 31, 2023		$ 142	$ 109,924	$ (6,563)	$ (99)	$ 175,505	$ 317	$ (99)	$ 279,325
Balance at end of period (shares) at Dec. 31, 2023		14,144,856
[1] Amounts are included in provision for income taxes in the audited consolidated statements of income.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Consolidated Statements of Changes in Stockholders' Equity
Cash dividend declared per share	$ 0.24	$ 0.42

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities:
Net income	$ 46,276,000	$ 24,843,000
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of securities premiums and discounts, net	20,000	27,000
Provision for credit losses	972,000	439,000
Depreciation	1,219,000	1,246,000
Net amortization of deferred loan fees and costs	215,000	509,000
Deferred income tax benefit	(367,000)	(1,308,000)
Realized and unrealized (gain) loss recognized on equity securities	(294,000)	1,573,000
Impairment of goodwill		451,000
Impairment of real estate owned		540,000
Earnings on bank owned life insurance	(1,013,000)	(604,000)
Loss on disposition of business	138,000
Loss (gain) on dispositions of premises and equipment	18,000	(98,000)
ESOP compensation expense	1,314,000	1,075,000
Compensation expense related to stock options	768,000	92,000
Compensation expense related to restricted stock	968,000	116,000
Increase in accrued interest receivable	(3,714,000)	(4,314,000)
Decrease in other assets	149,000	1,269,000
Decrease in accounts payable - loan closing	(2,614,000)	(91,000)
(Decrease) increase in accounts payable and accrued expenses	(1,220,000)	1,774,000
Net Cash Provided by Operating Activities	42,835,000	27,539,000
Cash Flows from Investing Activities:
Net increase in loans	(399,396,000)	(257,844,000)
Proceeds from sale of loans	29,666,000	12,770,000
Principal repayments on securities available-for-sale	1,000
Principal repayments on securities held-to-maturity	11,183,000	1,495,000
Purchase of securities held-to-maturity	(806,000)	(10,038,000)
Proceeds from bank owned life insurance	1,827,000
Purchase of FHLB stock	(6,000)
Redemption of FHLB stock	315,000	331,000
Purchases of premises and equipment	(626,000)	(3,304,000)
Net Cash Used in Investing Activities	(357,842,000)	(256,590,000)
Cash Flows from Financing Activities:
Net increase in deposits	278,081,000	194,791,000
Proceeds from FRB borrowing	50,000,000
Repayment of FHLB of NY advances	(7,000,000)	(7,000,000)
Stock repurchases	(28,710,000)	(9,318,000)
Increase (decrease) in advance payments by borrowers for taxes and insurance	(349,000)	485,000
Cash dividends paid	(3,652,000)	(6,868,000)
Net Cash Provided by Financing Activities	288,370,000	172,090,000
Net Decrease in Cash and Cash Equivalents	(26,637,000)	(56,961,000)
Cash and Cash Equivalents - Beginning	95,308,000	152,269,000
Cash and Cash Equivalents - Ending	68,671,000	95,308,000
Supplementary Cash Flows Information:
Income taxes paid	20,721,000	9,195,000
Interest paid	34,853,000	8,012,000
Supplementary Disclosure of Non-Cash Investing and Financing Activities:
Recognition of right of use asset - operating	4,372,000	289,000
Recognition of lease liability - operating	4,372,000	289,000
Dividends declared and not paid	849,000	$ 971,000
Adoption of ASC 326	$ 99,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1 - Summary of Significant Accounting Policies The following is a description of the Company’s business and significant accounting and reporting policies: Nature of Business: Northeast Community Bancorp, Inc. (the “Company”) is a Maryland corporation that was incorporated in May 2021 to be the successor to NorthEast Community Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”), upon completion of the second-step conversion of NorthEast Community Bank (the “Bank”) from the two-tier mutual holding company structure to the stock holding company structure. NorthEast Community Bancorp, MHC was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. The Bank is a New York State-chartered savings bank and the Company’s primary activity is the ownership and operation of the Bank. The Bank is headquartered in White Plains, New York. The Bank was founded in 1934 and is a community oriented financial institution dedicated to serving the financial services needs of individuals and businesses within its market area. The Bank currently conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex and Norfolk Counties in Massachusetts and three loan production offices located in White Plains, New York, New City, New York and Danvers, Massachusetts. The Bank’s principal business consists of originating primarily construction loans and, to a lesser extent, commercial and industrial loans, and multifamily and mixed-use residential real estate loans and non-residential real estate loans. The Bank offers a variety of retail deposit products to the general public in the areas surrounding its main office and its branch offices, with interest rates that are competitive with those of similar products offered by other financial institutions operating in its market area. The Bank also utilizes borrowings as a source of funds. The Bank’s revenues are derived primarily from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities. The Bank also generates revenues from other income including deposit fees, service charges and investment advisory fees. The Bank also offers investment advisory and financial planning services under the name Harbor West Wealth Management Group, a division of the Bank, through a networking arrangement with a registered broker-dealer and investment advisor. The agreement to sell all the Bank’s assets relating to Harbor West Wealth Management Group to a third party was executed in December 2023, with the transaction closing in January 2024. New England Commercial Properties LLC (“NECP”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2007 to facilitate the purchase or lease of real property by the Bank. New England Commercial Properties, LLC currently owns one foreclosed property located in Pennsylvania. NECB Financial Services Group, LLC (“NECB Financial”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in the third quarter of 2012 as a complement to Harbor West Wealth Management Group to sell life insurance and fixed rate annuities. NECB Financial is licensed in New York State. We terminated our license in Connecticut on February 22, 2024 due to the sale of all the Bank’s assets relating to Harbor West Wealth Management Group to a third party in January 2024. ​ ​ ​ Note 1 - Summary of Significant Accounting Policies (continued) 72 West Eckerson LLC (“72 West Eckerson”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2015 to facilitate the purchase or lease of real property by the Bank and currently owns the Bank branch locations in Spring Valley, New York and Monroe, New York. 166 Route 59 Realty LLC (“166 Route 59 Realty”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the Bank branch located in Airmont, New York. 3 Winterton Realty LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the property for a Bank branch located in Bloomingburg, New York. Principles of Consolidation: The consolidated financial statements include the accounts of the Company, the Bank, NECP, NECB Financial, 72 West Eckerson, 166 Route 59 Realty, and 3 Winterton Realty LLC (collectively the “Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant inter-company accounts and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company and its subsidiaries conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-K and Article 10 of Regulation S-X. When necessary, certain reclassifications were made to prior year amounts to conform with current year presentation. Use of Estimates: The preparation of consolidated financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect certain recorded amounts and disclosures. Accordingly, actual results could differ from those estimates. The most significant estimate pertains to the allowance for credit losses. The borrowers’ abilities to meet contractual obligations and collateral value are the most significant assumptions used to arrive at the estimate. The risks associated with such estimates arise when unforeseen conditions affect the borrowers’ abilities to meet the contractual obligations of the loan and result in a decline in the value of the supporting collateral. Such unforeseen changes may have an adverse effect on the consolidated results of operations and financial position of the Company. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for credit losses. Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. Cash and Cash Equivalents: Cash and cash equivalents include cash and amounts due from depository institutions and interest-bearing deposits in other banks, all with original maturities of 90 days or less. Certificates of Deposit: Certificates of deposit are carried at cost which approximates fair value and have maturities of less than one year. ​ Note 1 - Summary of Significant Accounting Policies (continued) Securities: The Company classifies its debt securities as held to maturity or available for sale at the time of purchase. Held to maturity securities are those debt securities which management has the intent and the Company has the ability to hold to maturity and are reported at amortized cost. Available-for-sale securities are those debt securities which are neither held to maturity securities nor trading securities and are reported at fair value, with unrealized gains and losses, net of the related income tax effect, excluded from earnings and reported in a separate component of stockholders’ equity. Premiums and discounts on all securities are generally amortized or accreted to the maturity date utilizing the level-yield method taking into consideration the impact of principal amortization and prepayments, as applicable. Gain or loss on sales of securities is based on the specific identification method. Effective January 1, 2023, the Company adopted the provisions of ASC 326 and modified its accounting policy for the assessment of available for sale securities for impairment. Under ASC 326, 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, any changes to the rating by a rating agency, 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. Under ASC 326, changes in the allowance for credit losses are recorded as provision for, or reversal of, credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available for sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Equity securities are carried at fair value with changes in fair value reported in income. Loans Receivable: Loans are stated at unpaid principal balances plus net deferred loan origination fees and costs less an allowance for credit losses. Interest on loans receivable is recorded on the accrual basis. An allowance for uncollected interest is established on loans where management has determined that the borrowers may be unable to meet contractual principal and/or interest obligations or where interest or principal is 90 days or more past due, unless the loans are well secured with a reasonable expectation of collection. When a loan is placed on nonaccrual, an allowance for uncollected interest is established and charged against current income. Thereafter, interest income is not recognized unless the financial condition and payment record of the borrower warrant the recognition of interest income. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Interest on loans that have been restructured is accrued according to the renegotiated terms. Net loan origination fees and costs are deferred and amortized into interest income over the contractual lives of the related loans by use of the level yield method. Past due status of loans is based upon the contractual due date. Note 1 - Summary of Significant Accounting Policies (continued) Prepayment penalties received on loans which pay in full prior to the scheduled maturity are included in interest income in the period the prepayment penalties are collected. Accounting Pronouncements Adopted in 2023: Effective January 1, 2023, the Company adopted Accounting Standards Topic 326, “Financial Instruments – Credit Losses” which replaced the previously existing U.S. GAAP “incurred loss” approach to “expected credit losses” approach, which is referred as Current Expected Credit Losses (“CECL”). CECL measures the credit loss associated with financial assets carried at amortized cost, including loan receivables, held-to-maturity debt securities, off balance sheet credit exposures. The Company adopted Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balances sheet exposures. Results for reporting periods beginning after January 1, 2023 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, we recorded a cumulative-effect adjustment totaling $134,000, or $99,000, net of tax, to reduce retained earnings. The transition adjustment includes the adoption and changes to the three applicable components of the allowance for credit losses (“ACL”): a decrease of $1.6 million in the allowance for credit losses related to loans, an increase of $132,000 in the allowance for credit losses related to held-to-maturity debt securities, and an increase of $1.6 million in the allowance for credit losses related to off-balance sheet items. The following table illustrates the impact of adopting ASC 326: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2023 ​ ​ Pre-Adoption ​ Adoption Impact ​ As Reported ​ ​ (In Thousands) Assets ​ ​ ​ ​ ​ ​ ACL on debt securities held-to-maturity ​ ​ ​ ​ ​ ​ Municipal Bonds $ - $ 132 $ 132 ACL on loan receivables ​ ​ ​ ​ ​ ​ Residential real estate ​ 528 ​ 895 ​ 1,423 Non-residential real estate ​ 131 ​ 7 ​ 138 Construction ​ 3,835 ​ (2,086) ​ 1,749 Commercial and industrial ​ 955 ​ (437) ​ 518 Consumer ​ 18 ​ 44 ​ 62 Unallocated ​ 7 ​ (7) ​ - ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ACL for off-balance sheet exposure ​ - ​ 1,586 ​ 1,586 ​ $ 5,474 $ 134 $ 5,608 ​ Allowance for Credit Losses - Loans The allowance for credit losses related to loans is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loans, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The ACL is an estimate of expected credit losses, measured over the contractual life of a loan, that considers our historical loss experience, current conditions and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. Note 1 - Summary of Significant Accounting Policies (continued) The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans. The allowance for credit losses related to loans is measured on a collective (pool) basis when similar risk characteristics exist. If the risk characteristics of a loan change, such that they are no longer similar to other loans in the pool, the Company will evaluate the loan with a different pool of loans that 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. The Company evaluates the pooling methodology at least annually. Loans are charged off against the allowance for credit losses related to loans 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. Such segments include residential real estate, non-residential real estate, construction, commercial and industrial business, and consumer. For most segments the Company calculates estimated credit losses using a probability of default and loss given default methodology, the results of which are applied to each individual loan within the segment. The point in time probability of default and loss given default are then conditioned by macroeconomic scenarios to incorporate reasonable and supportable forecasts that affect the collectability of the reported amount. The Company estimates the allowance for credit losses related to loans via a quantitative analysis which considers relevant available information from internal and external sources related to past events and current conditions, as well as the incorporation of reasonable and supportable forecasts. The Company evaluates a variety of factors including third party economic forecasts, industry trends and other available published economic information in arriving at its forecasts. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications. Also included in the allowance for credit losses related to loans are qualitative reserves to cover losses that are expected but, in the Company’s assessment, might not be adequately represented in the quantitative analysis or the forecasts described above. Factors that the Company considers include changes in lending policies and procedures, business conditions, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due loans and non-accrual loans, the effect of external factors such as competition, legal and regulatory requirements, among others. Qualitative loss factors are applied to each portfolio segment with the amounts judgmentally determined by the relative risk to the most severe loss periods identified in the historical loan charge-offs of the Company. The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. On a case-by-case basis, the Company may conclude that a loan should be evaluated on an individual basis based on the loan’s 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, the loan’s observable market price 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. ​ ​ Note 1 - Summary of Significant Accounting Policies (continued) Allowance for Credit Losses – Held-to-Maturity Debt Securities The allowance for credit losses related to held-to-maturity debt securities is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of held-to-maturity debt securities to present the net amount expected to be collected on the held-to-maturity debt securities. Losses, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When an investment is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. Allowance for Credit Losses Related to Off-Balance Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses related to off-balance sheet credit exposures is adjusted through credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Based on management’s comprehensive analysis of the credit portfolio, management believes the allowance for credit losses is appropriate as of December 31, 2023 and 2022, respectively. Concentration of Risk: The Company’s lending activity is concentrated in construction and permanent loans secured by multi-family and non-residential real estate located primarily in the Northeast and Mid-Atlantic regions of the United States. As of December 31, 2023 and 2022, the Company had majority of construction loans located in New York state, including $626.0 million and $440.6 million in the Bronx, $198.5 million and $122.4 million in the Town of Monroe, $133.7 million and $103.8 million in the Hamlet of Monsey, $105.9 million and $104.3 million in the Village of Spring Valley, and $18.8 million and $31.8 million in Brooklyn. The Company also had deposits in excess of the FDIC insurance limit at other financial institutions. At December 31, 2023 and 2022, such deposits totaled $43.2 million and $59.0 million held by the Federal Reserve Bank of New York, $13.7 million and $26.4 million held by the Federal Home Loan Bank of New York, and $430,000 and $1.0 million held by Atlantic Community Bankers Bank (“ACBB”). Generally, deposits in excess of $250,000 are not insured by the FDIC. Premises and Equipment: Land is stated at cost. Buildings and improvements, leasehold improvements and furnishings and equipment are stated at cost less accumulated depreciation and amortization computed on the straight-line method over the following useful lives: ​ ​ ​ ​ ​ Years Buildings 30 – 50 Building improvements 10 – 50 Leasehold improvements 1 – 15 Furnishings and equipment 3 – 5 ​ Maintenance and repairs are charged to operations in the years incurred. ​ Note 1 - Summary of Significant Accounting Policies (continued) Property and equipment are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable. In evaluating property and equipment for recoverability, we use our best estimate of future cash flows expected to result from the use of the asset and its eventual disposition. To the extent that estimated future undiscounted net cash flows attributable to the asset are less than the carrying amount, an impairment loss is recognized equal to the difference between the carrying value of such asset and its fair value. The Company did not have impairment recorded for property and equipment in 2023 and 2022. Bank Owned Life Insurance (“BOLI”): The Company owns life insurance on the lives of certain of its officers. The cash surrender value is recorded as an asset and the change in cash surrender value is included in non-interest income and is tax-exempt. The BOLI can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in cash surrender value. Investments in Restricted Stock: Federal law requires a member institution of the Federal Home Loan Bank (“FHLB”) system to hold stock of its district FHLB according to a predetermined formula. The Company also owns restricted stock in Atlantic Community Bancshares, Inc. (ACBI), holding company of ACBB, a correspondent banker’s bank. These stocks are carried at cost. At December 31, 2023 and 2022, the Company had $859,000 and $1.2 million in FHLB stock, and $70,000 and $70,000 in ACBB stocks. Goodwill: Goodwill at December 31, 2023 and 2022 totaled zero and $200,000, respectively, and consists of goodwill acquired in the business combination completed by the Company in November 2007. The Company tests goodwill during the fourth quarter of each year for impairment, or more frequently if certain indicators are present or changes in circumstances suggest that impairment may exist. The Company utilizes a two-step approach. The first step requires a comparison of the carrying value of the reporting unit to the fair value of the unit. The Company estimates the fair value of the reporting unit through internal analyses and external valuation, which utilizes an income approach based on the present value of future cash flows. If the carrying value of the reporting unit exceeds its fair value, impairment exists and the Company will perform the second step of the goodwill impairment test to measure the amount of impairment loss, if any. The second step of the goodwill impairment test, if necessary, compares the implied fair value of a reporting unit’s goodwill with its carrying value. The implied fair value of goodwill is determined in the same manner that the amount of goodwill recognized in a business combination is determined. The Company allocates the fair value of the reporting unit to all of the assets and liabilities of that unit, including identifiable intangible assets, as if the reporting unit had been acquired in a business combination. Any excess of the value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. Impairment charges of $451,000 were recorded in 2022 due to increased capitalization rate when evaluating the investment value of the goodwill. As of December 31, 2023, the goodwill was eliminated along with the sale of Harbor West Wealth Management Group to a third party in December 2023. The sale resulted in a total of $138,000 loss recognized on the consolidated statement of income. Real Estate Owned: Real estate owned is carried at the lower of cost or fair value of the related property, as determined by current appraisals less estimated costs to sell. Foreclosed real estate is initially recorded at the fair value of property acquired minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Write-downs on these properties, which occur after the initial transfer from the loan portfolio, are recorded as operating expenses. Costs of holding such properties are charged to non-interest expense in the current period. Gains, to the extent allowable, and losses Note 1 - Summary of Significant Accounting Policies (continued) on the disposition of these properties are reflected in the real estate owned expense in the consolidated statement of income. The Company wrote down $540,000 in 2022 due to increased capitalization rate in evaluating the fair value of the properties. No write-downs were recorded in 2023. Property Held for Investment: Land is stated at cost. Buildings and improvements are stated at cost less accumulated depreciation computed on the straight-line method over the useful lives between 30 to 50 years for buildings and 10 to 50 years for building improvements. Property held for investment is evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable. In evaluating property held for investment for recoverability, we use our best estimate of future cash flows expected to result from the use of the asset and its eventual disposition. To the extent that estimated future undiscounted net cash flows attributable to the asset are less than the carrying amount, an impairment loss is recognized equal to the difference between the carrying value of such asset and its fair value. The Company did not have impairment recorded for property held for investment in 2023 and 2022. Income Taxes: The Company files a consolidated federal income tax return. Income taxes are allocated to the Company, Bank, NECP, and NECB Financial based upon their respective income or loss included in the consolidated income tax return. The Company, the Bank, NECP, and NECB Financial file combined or separate state and city income tax returns depending on the particular requirements of each jurisdiction. Federal, state and city 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 consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax base. 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 its 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 de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company has not identified any significant income tax uncertainties through the evaluation of its income tax positions for the years ended December 31, 2023 and 2022, and has not recognized any liabilities for tax uncertainties as of December 31, 2023 and 2022. The Company’s policy is to recognize income tax related interest and penalties in income tax expense; there were no such amounts during the years ended December 31, 2023 and 2022. The tax years subject to examination by federal, state, and city taxing authorities are 2020 through 2023. Other Comprehensive Income (Loss): The Company records in accumulated other comprehensive income (loss), net of related deferred income taxes, unrealized gains and losses on available for sale securities and the prior service cost and actuarial gains and losses related to the Outside Directors Retirement Plan (“DRP”) that have not yet been recognized in expense. Note 1 - Summary of Significant Accounting Policies (continued) Gains and losses on the sale of securities, if any, are reclassified to non-interest income upon the sale of the related securities or upon the recognition of a security impairment loss and a portion of the prior service cost and actuarial gains and losses of the DRP are reclassified to non-interest expense. At December 31, 2023, accumulated other comprehensive income totaled $317,000 and included $352,000 in prior service cost and actuarial gains of the DRP net of $35,000 of related deferred income benefits. At December 31, 2022, accumulated other comprehensive income totaled $156,000 and included $197,000 in prior service cost and actuarial losses of the DRP net of $41,000 of related deferred income taxes. Earnings per Share: Basic earnings per share is calculated by dividing the net income available to common stockholders by the weighted-average number of common shares outstanding during the period less any unvested restricted shares. Unallocated common shares held by the Employee Stock Ownership Plan (“ESOP”) are not included in the weighted-average number of common shares outstanding for purposes of calculating basic net income per common share until they are committed to be released. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income th

Mutual Holding Company Reorgani

Mutual Holding Company Reorganization and Regulatory Matters	12 Months Ended
	Dec. 31, 2023
Mutual Holding Company Reorganization and Regulatory Matters
Mutual Holding Company Reorganization and Regulatory Matters	Note 2 – Mutual Holding Company Reorganization and Regulatory Matters On July 5, 2006, the Bank reorganized from a mutual savings bank to a mutual holding company structure. In the reorganization, the Company sold 5,951,250 shares of its common stock to the public and issued 7,273,750 shares of its common stock to Northeast Community Bancorp, MHC (“MHC”). As disclosed in note 1, in conjunction with the completion of the second-step conversion on July 12, 2021, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. ​ Note 2 – Mutual Holding Company Reorganization and Regulatory Matters (continued) The Federal Deposit Insurance Corporation (“FDIC”) and the New York State Department of Financial Services (“NYS”) are the Bank’s primary regulator. Under New York State Banking Law, New York state-chartered stock-form savings banks may declare and pay dividends out of their net profits, unless there is an impairment of capital, but approval of the NYS Superintendent is required if the total of all dividends declared by the bank in a calendar year would exceed the total of its net profits for that year combined with its retained net profits for the preceding two years less prior dividends paid. The FDIC also has authority to use its enforcement powers to prohibit a savings bank from paying dividends if, in its opinion, the payment of dividends would constitute an unsafe and unsound practice. The Bank is subject to risk-based capital standards by which banks are evaluated in terms of capital adequacy. These regulatory capital requirements are administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the 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 and classification are also subject to qualitative judgments by the regulators. Management believes that, as of December 31, 2023, the Bank meets all capital adequacy requirements to which it is subject. Prompt corrective action regulations provide five classifications: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At year-end 2023 and 2022, the most recent regulatory notifications categorized the Bank as well-capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. In addition, a capital conservation buffer of 2.50% is applicable to all capital ratios except for the Tier 1 Leverage ratio. The capital conservation buffer is equal to the lowest value of the three applicable capital ratios less the regulatory minimum (“adequately capitalized”) for each respective capital measurement. Compliance with the capital conservation buffer is required to avoid limitations on certain capital distributions, especially dividends. The Bank is required to maintain a capital conservation buffer of 2.50% at December 31, 2023 and 2022. The Bank met all capital adequacy requirements to which it was subject as of December 31, 2023 and 2022. Actual and required capital amounts and ratios as of December 31, 2023 and 2022, are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Regulatory Capital Requirements ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ For Classification as ​ ​ Actual ​ Adequacy (1) ​ Well-Capitalized ​ Amount Ratio Amount ​ Ratio Amount ​ Ratio ​ ​ (Dollars in Thousands) As of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 255,252 13.43 % $ ≥ 152,097 ≥ 8.00 % $ ≥ 190,121 ≥ 10.00 % Tier 1 capital (to risk-weighted assets) ​ 249,013 13.10 ​ ≥ 114,072 ≥ 6.00 ​ ≥ 152,097 ≥ 8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 249,013 13.10 ​ ≥ 85,554 ≥ 4.50 ​ ≥ 123,579 ≥ 6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 249,013 14.43 ​ ≥ 69,007 ≥ 4.00 ​ ≥ 86,259 ≥ 5.00 ​ As of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 222,728 13.66 % $ ≥ 130,429 ≥ 8.00 % $ ≥ 163,036 ≥ 10.00 % Tier 1 capital (to risk-weighted assets) ​ 217,283 13.33 ​ ≥ 97,822 ≥ 6.00 ​ ≥ 130,429 ≥ 8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 217,283 13.33 ​ ≥ 73,366 ≥ 4.50 ​ ≥ 105,973 ≥ 6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 217,283 16.50 ​ ≥ 52,687 ≥ 4.00 ​ ≥ 65,858 ≥ 5.00 ​ (1) Ratios do not include the capital conservation buffer.

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2023
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	Note 3 - Financial Instruments with Off-Balance Sheet Risk The Company 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 are commitments to extend credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. ​ The Company’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 notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ (In Thousands) Financial instruments whose contract amounts represent credit risk: ​ ​ ​ Commitments to extend credit ​ $ 125,885 ​ $ 164,903 Construction loans in process ​ 481,277 ​ 637,427 Stand-by letters of credit ​ 9,508 ​ 12,451 Commitments to fund unused lines of credit: ​ ​ ​ ​ Commercial and industrial lines ​ 102,903 ​ 133,794 Consumer lines ​ 67 ​ 86 ​ ​ $ 719,640 ​ $ 948,661 ​ Commitments to extend credit are legally binding 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. The amount of collateral obtained, if deemed necessary by the Company, is based on management’s credit evaluation of the borrower. .

Equity Securities

Equity Securities	12 Months Ended
	Dec. 31, 2023
Equity Securities
Equity Securities	Note 4 – Equity Securities The following table is the schedule of Equity Securities at December 31, 2023 and 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) Equity Securities, at Fair Value ​ $ 18,102 ​ $ 18,041 ​ The following is a summary of realized and unrealized losses recognized in net income on equity securities during the year ended December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ Net unrealized gain (loss) recognized on equity securities during the period ​ $ 61 ​ $ (1,902) Capital gain realized on equity securities during the period ​ ​ 233 ​ ​ 329 Net losses realized on the sale of equity securities during the period ​ ​ — ​ ​ — Realized and unrealized net gain (loss) recognized on equity securities held at the reporting date ​ $ 294 ​ $ (1,573) ​

Securities Available-for-Sale

Securities Available-for-Sale	12 Months Ended
	Dec. 31, 2023
Securities Available-for-Sale
Securities Available-for-Sale	Note 5 – Securities Available-for-Sale The Company’s portfolio of securities available-for-sale was zero at December 31, 2023. The following table summarized the portfolio at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ There were no sales of securities available-for-sale during the years ended December 31, 2023 and 2022. The Company had no unrealized loss on securities available-for-sale at December 31, 2023 and 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Securities Held-to-Maturity

Securities Held-to-Maturity	12 Months Ended
	Dec. 31, 2023
Securities Held-to-Maturity
Securities Held-to-Maturity	Note 6 – Securities Held-to-Maturity The following table summarized the Company’s portfolio of securities held-to-maturity at December 31, 2023 and 2022. No securities held-to-maturity were pledged to secure borrowings. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Allowance ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ for ​ Cost Gains Losses ​ Value Credit Loss ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ 452 ​ $ — ​ $ 7 ​ $ 445 ​ $ — Federal Home Loan Mortgage Corporation ​ 868 ​ — ​ 114 ​ 754 ​ — Federal National Mortgage Association ​ ​ 1,985 ​ — ​ 198 ​ 1,787 ​ — Collateralized mortgage obligations – GSE ​ 2,889 ​ — ​ 580 ​ 2,309 ​ — Total mortgage-backed securities ​ 6,194 ​ — ​ 899 ​ 5,295 ​ — Municipal Bonds ​ 9,802 ​ ​ — ​ ​ 1,971 ​ ​ 7,831 ​ ​ 136 ​ ​ $ 15,996 ​ $ — ​ $ 2,870 ​ $ 13,126 ​ $ 136 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 523 ​ $ — ​ $ 18 ​ $ 505 Federal Home Loan Mortgage Corporation ​ 961 ​ — ​ 129 ​ 832 Federal National Mortgage Association ​ 2,308 ​ — ​ 250 ​ 2,058 Collateralized mortgage obligations – GSE ​ 3,043 ​ — ​ 506 ​ 2,537 Total mortgage-backed securities ​ ​ 6,835 ​ ​ — ​ ​ 903 ​ ​ 5,932 Municipal Bonds ​ ​ 9,546 ​ ​ — ​ ​ 2,524 ​ ​ 7,022 U.S. Treasury securities ​ ​ 10,014 ​ ​ — ​ ​ 103 ​ ​ 9,911 ​ ​ $ 26,395 ​ $ — ​ $ 3,530 ​ $ 22,865 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contractual final maturities of mortgage-backed securities and municipal bonds were as follows at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Amortized ​ Fair ​ Cost Value ​ (In Thousands) Due within one year ​ $ 712 ​ $ 639 Due after one but within five years ​ 2,024 ​ 1,733 Due after five but within ten years ​ 2,872 ​ 2,666 Due after ten years ​ 10,388 ​ 8,088 ​ ​ $ 15,996 ​ $ 13,126 ​ The maturities shown above are based upon contractual final maturity. Actual maturities will differ from contractual maturities due to scheduled monthly repayments and due to the underlying borrowers having the right to prepay their obligations. Note 6 – Securities Held-to-Maturity (continued) The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity: ​ ​ ​ ​ ​ ​ ​ Municipal ​ ​ Bonds Balance – December 31, 2022 ​ $ - Impact of adopting ASC 326 ​ ​ 132 Provision for credit loss ​ ​ 4 Balance - December 31, 2023 ​ $ 136 ​ The age of unrealized losses and the fair value of related securities held-to-maturity were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) December 31, 2023: ​ ​ ​ ​ ​ ​ Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ — ​ $ — ​ $ 445 ​ $ 7 ​ $ 445 ​ $ 7 Federal Home Loan Mortgage Corporation ​ ​ — ​ ​ — ​ ​ 754 ​ ​ 114 ​ ​ 754 ​ ​ 114 Federal National Mortgage Association ​ ​ — ​ ​ — ​ ​ 1,787 ​ ​ 198 ​ ​ 1,787 ​ ​ 198 Collateralized mortgage obligations – GSE ​ ​ — ​ ​ — ​ ​ 2,309 ​ ​ 580 ​ ​ 2,309 ​ ​ 580 Total mortgage-backed securities ​ $ — ​ $ — ​ $ 5,295 ​ $ 899 ​ $ 5,295 ​ $ 899 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) December 31, 2022: ​ ​ ​ ​ ​ ​ Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ 505 ​ $ 18 ​ $ — ​ $ — ​ $ 505 ​ $ 18 Federal Home Loan Mortgage Corporation ​ ​ — ​ ​ — ​ ​ 824 ​ ​ 129 ​ ​ 824 ​ ​ 129 Federal National Mortgage Association ​ ​ 478 ​ ​ 33 ​ ​ 1,580 ​ ​ 217 ​ ​ 2,058 ​ ​ 250 Collateralized mortgage obligations – GSE ​ ​ 1,777 ​ ​ 344 ​ ​ 759 ​ ​ 162 ​ ​ 2,536 ​ ​ 506 Total mortgage-backed securities ​ ​ 2,760 ​ ​ 395 ​ ​ 3,163 ​ ​ 508 ​ ​ 5,923 ​ ​ 903 Municipal Bonds ​ ​ 444 ​ ​ 39 ​ ​ 6,579 ​ ​ 2,485 ​ ​ 7,023 ​ ​ 2,524 U.S. Treasury securities ​ ​ 9,911 ​ ​ 103 ​ ​ — ​ ​ — ​ ​ 9,911 ​ ​ 103 ​ ​ $ 13,115 ​ $ 537 ​ $ 9,742 ​ $ 2,993 ​ $ 22,857 ​ $ 3,530 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 6 – Securities Held-to-Maturity (continued) At December 31, 2023, twenty-seven mortgage-backed securities and eight municipal bonds had unrealized loss due to interest rate volatility. Management concluded that the unrealized loss reflected above was related primarily to market interest rates volatility, and not related to the underlying credit quality of the issuers of the securities. Additionally, the Company has the ability and intent to hold the securities for the time necessary to recover the amortized cost. At December 31, 2022, there were thirty-five mortgage-backed securities, six municipal bonds and two U.S. Treasury notes with unrealized loss.

Loans Receivable and the Allowa

Loans Receivable and the Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2023
Loans Receivable and the Allowance for Credit Losses
Loans Receivable and the Allowance for Credit Losses	Note 7 - Loans Receivable and the Allowance for Credit Losses The composition of loans were as follows at December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) Residential real estate: ​ ​ ​ One-to-four family ​ $ 5,252 ​ $ 5,467 Multi-family ​ 198,927 ​ 123,385 Mixed-use ​ 29,643 ​ 21,902 Total residential real estate ​ 233,822 ​ 150,754 Non-residential real estate ​ 21,130 ​ 25,324 Construction ​ 1,219,413 ​ 930,628 Commercial and industrial ​ 111,116 ​ 110,069 Consumer ​ 1,240 ​ 546 Total Loans ​ 1,586,721 ​ 1,217,321 Deferred loan costs, net ​ 176 ​ 372 Allowance for credit losses ​ (5,093) ​ (5,474) ​ ​ $ 1,581,804 ​ $ 1,212,219 ​ Loans serviced for the benefit of others totaled approximately $40,729,000 and $22,350,000 at December 31, 2023 and 2022, respectively. The value of mortgage servicing rights was not material at December 31, 2023 and 2022. The Company sold loan participations totaling $19.2 million and $11.5 million in 2023 and 2022. During the year ended December 31, 2023, the Company sold three loans with the same borrower totaling $10.4 million with a charge-off of $159,000 recognized on the sale. During the year ended December 31, 2022, the Company sold one loan totaling $1,578,000, net of interest reserve of $63,000, with a charge-off of $391,000 recognized on the sale. ​ Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) The following tables summarize the allocation of the allowance for credit losses based upon the calculation methodology described in Note 1, and loans receivable by loan class and credit loss method at December 31, 2023 and 2022: At December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 2,433 ​ $ 126 ​ $ 1,914 ​ $ 472 ​ $ 148 ​ $ — ​ $ 5,093 Ending balance: individually evaluated for credit loss ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for credit loss ​ $ 2,433 ​ $ 126 ​ $ 1,914 ​ $ 472 ​ $ 148 ​ $ — ​ $ 5,093 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 233,822 ​ $ 21,130 ​ $ 1,219,413 ​ $ 111,116 ​ $ 1,240 ​ $ — ​ $ 1,586,721 Ending balance: individually evaluated for credit loss ​ $ — ​ $ — ​ $ 4,385 ​ $ — ​ $ — ​ $ — ​ $ 4,385 Ending balance: collectively evaluated for credit loss ​ $ 233,822 ​ $ 21,130 ​ $ 1,215,028 ​ $ 111,116 ​ $ 1,240 ​ $ — ​ $ 1,582,336 ​ ​ At December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 150,754 ​ $ 25,324 ​ $ 930,628 ​ $ 110,069 ​ $ 546 ​ $ — ​ $ 1,217,321 Ending balance: individually evaluated for impairment ​ $ 855 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 855 Ending balance: collectively evaluated for impairment ​ $ 149,899 ​ $ 25,324 ​ $ 930,628 ​ $ 118,378 ​ $ 546 ​ $ — ​ $ 1,216,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) ​ The activity in the allowance for credit loss by loan class for the years ended December 31, 2023 and 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2022 ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 Impact of adopting ASC 326 ​ ​ 895 ​ ​ 7 ​ ​ (2,086) ​ ​ (437) ​ ​ 44 ​ ​ (7) ​ ​ (1,584) Charge-offs ​ — ​ — ​ (159) ​ — ​ (154) ​ — ​ (313) Recoveries ​ — ​ — ​ — ​ — ​ — ​ — ​ — Provision (Benefit) ​ 1,010 ​ (12) ​ 324 ​ (46) ​ 240 ​ — ​ 1,516 Balance - December 31, 2023 ​ $ 2,433 ​ $ 126 ​ $ 1,914 ​ $ 472 ​ $ 148 ​ $ — ​ $ 5,093 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2021 ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Charge-offs ​ (86) ​ — ​ (328) ​ — ​ (35) ​ — ​ (449) Recoveries ​ 189 ​ 53 ​ — ​ — ​ — ​ — ​ 242 Provision (Benefit) ​ (146) ​ (303) ​ 1,020 ​ (18) ​ 43 ​ (157) ​ 439 Balance - December 31, 2022 ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 ​ During the year ended December 31, 2023, the provision expenses recorded for construction loans were primarily attributed to the increased loan balances. The provision expenses recorded for residential loans was primarily due to increased loan balances and increased average contractual terms of the loans. The provision expenses recorded for consumer loans was primarily due to increased deposit account overdraft balance and increased credit risk. During the year ended December 31, 2022, the provision expenses recorded for construction loans were attributed to the increased loan balances. The credit provision recorded for residential loans was primarily due to loan recoveries and reduced credit risk. The credit provision recorded for non-residential loans was attributed to loan recoveries and decreased loan balances. Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) The following table shows our recorded investment, unpaid principal balance and allocated allowance for credit losses for loans that were considered nonperforming and impaired as of and for the periods presented: As of and for the Year Ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2023 - Individually evaluated ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Non-residential real estate ​ — ​ — ​ — ​ — ​ ​ — Construction ​ 4,385 ​ 4,353 ​ — ​ 5,930 ​ ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 4,385 ​ 4,353 ​ — ​ 5,930 ​ — With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate ​ — ​ — ​ — ​ — ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ — Construction ​ 4,385 ​ 4,353 ​ — ​ 5,930 ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 4,385 ​ $ 4,353 ​ $ — ​ $ 5,930 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Year Ended December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2022 - Impaired ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate ​ $ 855 ​ $ 769 ​ $ — ​ $ 863 ​ $ 43 Non-residential real estate ​ — ​ — ​ — ​ 385 ​ ​ 14 Construction ​ — ​ — ​ — ​ — ​ ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 855 ​ 769 ​ — ​ 1,248 ​ 57 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate ​ 855 ​ 769 ​ — ​ 863 ​ 43 Non-residential real estate ​ — ​ — ​ — ​ 385 ​ 14 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 855 ​ $ 769 ​ $ — ​ $ 1,248 ​ $ 57 ​ ​ ​ ​ ​ Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) The Company has two individually evaluated loans, totaling $4.4 million, which were collateral-dependent construction loans, secured by multi-family real estate, at December 31, 2023. The two loans are secured by the same project located in the Bronx, New York, and are currently placed on non-accrual status. There was no interest income recognized from non-accrual loans as of December 31, 2023 and 2022. There were no non-accrual loans at December 31, 2022. The following tables provide information about delinquencies in our loan portfolio at the dates indicated. Age Analysis of Past Due Loans as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment > ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,252 ​ $ 5,252 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 198,927 ​ 198,927 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 29,643 ​ 29,643 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 21,130 ​ 21,130 ​ — Construction loans ​ 2,319 ​ — ​ 4,385 ​ 6,704 ​ 1,212,709 ​ 1,219,413 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 111,116 ​ 111,116 ​ — Consumer ​ 1 ​ — ​ — ​ 1 ​ 1,239 ​ 1,240 ​ — ​ ​ $ 2,320 ​ $ — ​ $ 4,385 ​ $ 6,705 ​ $ 1,580,016 ​ $ 1,586,721 ​ $ — ​ Age Analysis of Past Due Loans as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ > 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,467 ​ $ 5,467 ​ $ — Multi-family ​ — ​ 946 ​ — ​ 946 ​ 122,439 ​ 123,385 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 21,902 ​ 21,902 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 25,324 ​ 25,324 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 930,628 ​ 930,628 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 110,069 ​ 110,069 ​ — Consumer ​ — ​ — ​ — ​ — ​ 546 ​ 546 ​ — ​ ​ $ — ​ $ 946 ​ $ — ​ $ 946 ​ $ 1,216,375 ​ $ 1,217,321 ​ $ — ​ ​ Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) ​ Credit Quality Indicators ​ The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually to classify the loans as to credit risk. The Company uses the following definitions for risk ratings: ​ Pass Special Mention Substandard Doubtful ​ Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) ​ The following table presents the risk category of loans at December 31, 2023 by loan segment and vintage year: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Revolving ​ ​ ​ ​ Term Loans Amortized Costs Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Converted ​ ​ December 31, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Cost Basis ​ to Term ​ Total Residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 81,379 $ 71,932 $ 24,504 $ 10,696 $ 1,326 $ 43,070 $ - $ - $ 232,907 Special Mention ​ ​ - ​ - ​ - ​ 915 ​ - ​ - ​ - ​ - ​ 915 Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 81,379 $ 71,932 $ 24,504 $ 11,611 $ 1,326 $ 43,070 $ - $ - $ 233,822 Residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ - $ - $ - $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,602 $ 251 $ 1,841 $ 995 $ 379 $ 16,062 $ - $ - $ 21,130 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 1,602 $ 251 $ 1,841 $ 995 $ 379 $ 16,062 $ - $ - $ 21,130 Non-residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ - $ - $ - $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 376,763 $ 501,012 $ 216,901 $ 55,865 $ 25,150 $ 39,337 $ - $ - $ 1,215,028 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ 4,385 ​ - ​ - ​ - ​ - ​ 4,385 Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 376,763 $ 501,012 $ 216,901 $ 60,250 $ 25,150 $ 39,337 $ - $ - $ 1,219,413 Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ 159 $ - $ - $ 159 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 5,057 $ 8,329 $ 436 $ 435 $ 308 $ 2,195 $ 91,301 $ 3,055 $ 111,116 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 5,057 $ 8,329 $ 436 $ 435 $ 308 $ 2,195 $ 91,301 $ 3,055 $ 111,116 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ - $ - $ - $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,229 $ - $ - $ - $ - $ ​ $ 11 $ - $ 1,240 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 1,229 $ - $ - $ - $ - $ - $ 11 $ - $ 1,240 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 154 $ - $ - $ - $ - $ - $ - $ - $ 154 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 466,030 $ 581,524 $ 243,682 $ 67,991 $ 27,163 $ 100,664 $ 91,312 $ 3,055 $ 1,581,421 Special Mention ​ ​ - ​ - ​ - ​ 915 ​ - ​ - ​ - ​ - ​ 915 Substandard ​ ​ - ​ - ​ - ​ 4,385 ​ - ​ - ​ - ​ - ​ 4,385 Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 466,030 $ 581,524 $ 243,682 $ 73,291 $ 27,163 $ 100,664 $ 91,312 $ 3,055 $ 1,586,721 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 154 $ - $ - $ - $ - $ 159 $ - $ - $ 313 ​ Note 7 - Loans Receivable and the Allowance for Credit Losses (continued) ​ The following table provides certain information related to the credit quality of our loan portfolio at December 31, 2022. ​ Credit Risk Profile by Internally Assigned Grade as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ Pass ​ $ 148,953 ​ $ 25,324 ​ $ 930,628 ​ $ 110,069 ​ $ 546 ​ $ 1,215,520 Special Mention ​ 946 ​ — ​ — ​ — ​ — ​ 946 Substandard ​ 855 ​ — ​ — ​ — ​ — ​ 855 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 150,754 ​ $ 25,324 ​ $ 930,628 ​ $ 110,069 ​ $ 546 ​ $ 1,217,321 ​ Modifications to Borrowers Experiencing Financial Difficulty: Occasionally, the Company modifies loans to borrowers in financial distress by providing principal forgiveness, term extension, an other-than-insignificant payment delay, or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. In some cases, the Company provides multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. There were no loans modified to borrowers experiencing financial difficulty during the years ended December 31, 2023 and 2022. Allowance for Credit Losses on Off-Balance Sheet Commitments: The following table presents the activity in the allowance for credit losses related to off-balance sheet commitments, that is included in Accounts Payable and Accrued Expenses on the consolidated statement of financial condition, for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ Allowance for ​ ​ Credit Loss Balance – December 31, 2022 ​ $ - Impact of adopting ASC 326 ​ ​ 1,586 Provision for credit loss ​ ​ (548) Balance – December 31, 2023 ​ $ 1,038 ​

Premises and Equipment, Net

Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2023
Premises and Equipment, Net
Premises and Equipment, Net	Note 8 - Premises and Equipment, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Land ​ $ 6,652 ​ $ 6,652 Buildings and improvements ​ 22,912 ​ 22,647 Leasehold improvements ​ 1,805 ​ 1,741 Furnishings and equipment ​ 8,051 ​ 7,880 ​ ​ 39,420 ​ 38,920 Accumulated depreciation and amortization ​ (13,968) ​ (12,857) ​ ​ $ 25,452 ​ $ 26,063 ​ ​ ​ ​ ​ ​ ​ ​ Depreciation expense on premises and equipment for the fiscal years ended December 31, 2023 and 2022 totaled $1.2 million and $1.2 million, respectively.

Accrued Interest Receivable, Ne

Accrued Interest Receivable, Net	12 Months Ended
	Dec. 31, 2023
Accrued Interest Receivable, Net
Accrued Interest Receivable, Net	Note 9 - Accrued Interest Receivable, Net ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Loans receivable ​ $ 12,273 ​ $ 8,532 Securities ​ 38 ​ 65 ​ ​ $ 12,311 ​ $ 8,597 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 10 - Goodwill and Intangible Assets Goodwill and intangible assets at December 31 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Goodwill ​ $ — ​ $ 1,310 Accumulative goodwill impairment ​ — ​ (1,110) Goodwill, net of charge-off ​ $ — ​ $ 200 ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023, the goodwill was eliminated along with the sale of Harbor West Wealth Management Group to a third party in December 2023. The sale resulted in a total of $138,000 loss recognized on the consolidated statement of income. The Company identified $451,000 in goodwill impairment during the year ended December 31, 2022.

Real Estate Owned ("REO")

Real Estate Owned ("REO")	12 Months Ended
	Dec. 31, 2023
Real Estate Owned ("REO")
Real Estate Owned ("REO")	Note 11 - Real Estate Owned (“REO”) The Company owned one foreclosed property valued at approximately $1,456,000 at December 31, 2023 and 2022, respectively, consisting of an office building located in Pennsylvania. The property was acquired through foreclosure in December 2014. Further declines in real estate values may result in impairment charges in the future. Routine holding costs are charged to expense as incurred and improvements to real estate owned that enhance the value of the real estate are capitalized. REO expense recorded in the consolidated statements of income, including loss on sales and write-downs, amounted to $93,000 and $623,000 during the years ended December 31, 2023 and 2022.

Property Held For Investment

Property Held For Investment	12 Months Ended
	Dec. 31, 2023
Property Held For Investment
Property Held For Investment	Note 12– Property Held For Investment Property held for investment at December 31 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Land ​ $ 500 ​ $ 500 Buildings and improvements ​ 1,442 ​ 1,442 ​ ​ 1,942 ​ 1,942 Accumulated depreciation and amortization ​ (535) ​ (498) ​ ​ $ 1,407 ​ $ 1,444 ​ The Company owned one property at December 31, 2023 and 2022 consisting of a former branch office located in Plymouth, Massachusetts. The property is currently leased to a car rental company to generate current income for the Company.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Deposits
Deposits	Note 13 – Deposits Total deposits at December 31, 2023 and 2022 and the weighted average rate of deposits are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ ​ Weighted Average ​ ​ ​ Weighted Average ​ Amount Interest Rate Amount Interest Rate ​ ​ (Dollars in Thousands) Demand deposits: ​ ​ ​ ​ Non-interest bearing ​ $ 300,184 — % $ 376,302 — % NOW and money market ​ 144,807 3.07 % 88,122 0.95 % Total ​ 444,991 1.00 % 464,424 0.18 % Savings accounts ​ 192,594 2.71 % 273,839 2.68 % Certificates of deposit maturing in: ​ ​ ​ One year or less ​ 596,091 4.83 % 258,873 3.11 % After one to two years ​ 81,118 3.24 % 76,180 2.78 % After two to three years ​ 1,462 0.72 % 34,204 0.61 % After three to four years ​ 12,371 1.31 % 1,318 0.75 % After four years ​ 71,409 5.03 % 13,117 1.28 % Total ​ 762,451 4.62 % 383,692 2.75 % ​ ​ $ 1,400,036 3.20 % $ 1,121,955 1.67 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 and 2022, certificates of deposits equal to or in excess of $250,000 totaled approximately $178,112,000 and $205,845,000, respectively. At December 31, 2023 and 2022, the demand deposit overdrafts totaled $1,229,000 and $517,000. Overdraft deposits are reclassified as consumer loans and are included in the total loans on the Consolidated Statements of Financial Condition. The aggregate amount of brokered deposits was $311.2 million and $114.2 million as of December 31, 2023 and 2022, respectively. At December 31, 2023 and 2022, the Company also had $13.0 million and $10.9 million, respectively, in Insured Cash Sweep (“ICS”) reciprocal money market deposits, which are no longer considered fully-insured brokered deposits as defined in the FDIC call report instructions. ​ Note 13 – Deposits (continued) The ICS money market deposits were obtained from seven retail depositors and then transferred into the ICS Network in order to obtain full FDIC insurance coverage for our customers. These types of deposits are known in the ICS Network as reciprocal deposits, which the Company considers as core deposits and not brokered deposits. Interest expense on deposits consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (In Thousands) Demand deposits ​ $ 2,459 ​ $ 918 Savings accounts ​ 6,777 ​ 2,688 Certificates of deposit ​ 24,945 ​ 3,938 ​ ​ $ 34,181 ​ $ 7,544 ​ ​ ​ ​ ​ ​ ​ ​

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2023
Borrowings
Borrowings	Note 14 – Borrowings Our borrowings include Federal Home Loan Bank of New York (“FHLB”) advances and short-term borrowings from the Discount Window at the Federal Reserve Bank of New York (“FRBNY”). FHLB advances are summarized as follows at December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ Weighted Average ​ Weighted Average ​ Amount Interest Rate Amount Interest Rate ​ ​ (Dollars in Thousands) Advances maturing in: ​ ​ ​ ​ One year or less ​ $ 7,000 ​ 2.86 % $ 7,000 ​ 2.83 % After one to three years ​ ​ — — % ​ 7,000 2.86 % After three to four years ​ — — % — — % After five years (due 2030) ​ 7,000 1.61 % 7,000 1.61 % ​ ​ $ 14,000 2.24 % $ 21,000 2.43 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2023, none of the above advances were subject to early call or redemption features. All advances had fixed interest rates and the term of the advance ranges between 2 and 10 years. At December 31, 2023, the advances were secured by a pledge of the Company’s investment in the capital stock of the FHLB and a blanket assignment of the Company’s otherwise unpledged qualifying mortgage loans. At December 31, 2023, these unpledged qualifying mortgage loans were not pledged to any company other than the FHLB. At December 31, 2023, the Company had the ability to borrow $29.7 million, net of $14.0 million in outstanding advances, from the FHLB and $8.0 million from ACBB. ​ On August 30, 2023, the FRBNY approved the Company’s eligibility to pledge loans under the Borrower-in-Custody program of the FRBNY thereby allowing the Company to borrow from the Discount Window at the FRBNY. As of December 31, 2023, the borrowing from FRBNY was $50.0 million, bearing an interest rate of 5.5% and matures on March 20, 2024. The Company had an available borrowing limit of $865.1 million from the FRBNY as of December 31, 2023.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes
Income Taxes	Note 15 - Income Taxes The Bank qualifies as a savings institution under the provisions of the Internal Revenue Code and was, therefore, prior to January 1, 1996, permitted to deduct from taxable income an allowance for bad debts based upon eight percent of taxable income before such deduction, less certain adjustments. Retained earnings at December 31, 2023 and 2022, include approximately $4.1 million of such bad debt deductions which, in accordance with U.S. GAAP is considered a permanent difference between the book and income tax basis of loans receivable, and for which deferred income taxes have not been provided. If such amount is used for purposes other than for bad debt losses, including distributions in liquidation, it will be subject to income tax at the then current rate. The components of provision for income taxes are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (In Thousands) Current tax expense ​ $ 18,832 ​ $ 10,894 Deferred tax expense ​ (367) ​ (1,308) ​ ​ $ 18,465 ​ $ 9,586 ​ ​ The following table presents a reconciliation between the reported income taxes and the income taxes, which would be computed by applying the existing federal income tax rate of 21% for 2023 and 2022 to income before taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (Dollars In Thousands) Federal income tax at statutory rates ​ $ 13,596 ​ $ 7,230 ​ State and city tax, net of federal income tax effect ​ 4,851 ​ 2,321 ​ Non-taxable income on bank owned life insurance ​ (213) ​ (127) ​ Other ​ 231 ​ 162 ​ ​ ​ $ 18,465 ​ $ 9,586 ​ Effective Income Tax Rate ​ 28.5 % 27.8 % ​ The tax effects of significant items comprising the net deferred tax asset are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) Deferred tax assets: ​ ​ Allowance for credit losses ​ $ 1,313 ​ $ 1,411 State net operating loss carryforwards ​ 24 ​ 150 Benefit plans ​ 2,335 ​ 2,063 Accumulated other comprehensive loss – DRP ​ 35 ​ — Other ​ 653 ​ 273 Total Deferred Tax Assets ​ 4,360 ​ 3,897 Deferred tax liability: ​ ​ Depreciation ​ 497 ​ 418 Goodwill ​ — ​ 52 Accumulated other comprehensive gain – DRP ​ — ​ ​ 42 Total Deferred Tax Liabilities ​ 497 ​ 512 Net Deferred Tax Assets Included in Other Assets ​ $ 3,863 ​ $ 3,385 ​ ​ Note 15 - Income Taxes (continued) The Company has state net operating loss (NOL) carryforwards totaling approximately $500,000 at December 31, 2023 that are available to be carried forward to future years. These NOL carryforwards will start to expire beginning in 2035 if not fully utilized. At December 31, 2023, the Company had no valuation allowance because the Company determined there will be enough future New York State taxable income to utilize the New York State deferred tax assets.

Other Non-Interest Expenses

Other Non-Interest Expenses	12 Months Ended
	Dec. 31, 2023
Other Non-Interest Expenses
Other Non-Interest Expenses	Note 16 - Other Non-Interest Expenses The following is an analysis of other non-interest expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (In Thousands) Other ​ $ 4,043 ​ $ 2,827 Service contracts ​ 1,424 ​ 1,092 Consulting expense ​ 780 ​ 950 Telephone ​ 673 ​ 611 Directors compensation ​ 892 ​ 676 Audit and accounting ​ 497 ​ 566 Insurance ​ 395 ​ 372 Director, officer, and employee expense ​ 252 ​ 258 Legal fees ​ 617 ​ 765 Office supplies and stationary ​ 167 ​ 137 Recruiting expense ​ 30 ​ 93 ​ ​ $ 9,770 ​ $ 8,347 ​

Benefits Plans

Benefits Plans	12 Months Ended
	Dec. 31, 2023
Benefits Plans
Benefits Plans	Note 17 - Benefits Plans Outside Director Retirement Plan (“DRP”) The DRP is an unfunded non-contributory defined benefit pension plan covering all non-employee directors meeting eligibility requirements as specified in the plan document. The following table sets forth the funded status of the DRP and components of net pension periodic expense measured as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (Dollars In Thousands) Projected benefit obligation – beginning ​ $ 1,808 ​ $ 2,087 ​ Service cost ​ 94 ​ 97 ​ Interest cost ​ 85 ​ 81 ​ Actuarial gain ​ (116) ​ (353) ​ Benefits Paid ​ (104) ​ (104) ​ Projected benefit obligation – ending ​ $ 1,767 ​ $ 1,808 ​ Funded status – accrued liability included in accounts payable and accrued expenses ​ $ 1,767 ​ $ 1,808 ​ Accumulated benefit obligation ​ $ 1,675 ​ $ 1,712 ​ Discount rate ​ 5.21 % 4.83 % Rate of increase in future compensation levels ​ 2.00 % 2.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (Dollars In Thousands) Net periodic pension expense: ​ ​ ​ ​ Service cost ​ $ 94 ​ $ 97 ​ Interest cost ​ 85 ​ 81 ​ Actuarial (gain) loss amortized ​ (32) ​ 27 ​ Total net periodic pension expense included in other non-interest expenses ​ $ 147 ​ $ 205 ​ Discount rate ​ 5.21 % 4.83 % Rate of increase in future compensation levels ​ 2.00 % 2.00 % ​ Benefit payments, which reflect expected future service as appropriate, are expected to be paid for the years ending December 31 as follows (in thousands): ​ ​ ​ ​ 2024 $ 104 2025 ​ 190 2026 ​ 204 2027 ​ 230 2028 ​ 230 2029 to 2033 ​ 957 ​ At December 31, 2023 and 2022, unrecognized net gain of $116,000 and $353,000, respectively, were included in accumulated other comprehensive income. Supplemental Executive Retirement Plan (“SERP”) The SERP is a non-contributory defined benefit plan that covers certain officers of the Company. Under the SERP, each of these individuals will be entitled to receive upon retirement an annual benefit paid in monthly installments equal to 50% of his average base salary in the three-year period preceding retirement. Each individual may also retire ​ Note 17 - Benefits Plans (continued) Supplemental Executive Retirement Plan (“SERP”)(continued) early and receive a reduced benefit upon the attainment of certain age and years of service combination. Additional terms related to death while employed, death after retirement, disability before retirement and termination of employment are fully described within the plan document. The benefit payment term is the greater of 15 years or the executives remaining life. No benefits next five years During the years ended December 31, 2023 and 2022, expenses of $143,000 and $239,000, respectively, were recorded for this plan and are reflected in the Consolidated Statements of Income under Salaries and Employee Benefits. At December 31, 2023 and 2022, a liability for this plan of $4,160,000 and $4,017,000, respectively, is included in the Consolidated Statements of Financial Condition under Accounts Payable and Accrued Expenses. 401(k) Plan The Company maintains a 401(k) plan for all eligible employees. Participants are permitted to contribute from 1% to 15% or 60% of their annual compensation up to the maximum permitted under the Internal Revenue Code. The Company provided no matching contribution in 2023 and 2022. Stock-Based Deferral Plan In June 2021, the Company established a stock-based deferral plan for eligible key executives and members of the Board of Directors of the Company to elect to defer compensation received from the Company for their services and make deemed investments of that deferred compensation in shares of the Company’s common stock. At December 31, 2023 and 2022, the Company did not have any obligations under the plan. Employee Stock Ownership Plan (“ESOP”) In conjunction with the Mid-Tier Holding Company’s public stock offering in 2006, the Bank established an ESOP for all eligible employees (substantially all full-time employees). The ESOP borrowed $5,184,200 from the Mid-Tier Holding Company and used those funds to acquire 518,420 shares of the Mid-Tier Holding Company common stock at $10.00 per share. The loan from the Mid-Tier Holding Company, which has been assumed by the Company, carries an interest rate of 8.25% and is repayable in twenty annual installments through 2025. In conjunction with the Company’s second-step conversion offering, on July 12, 2021, the ESOP borrowed $7,827,260 from the Company and used those funds to acquire 782,726 shares of Company common stock at $10.00 per share. The loan from the Company carries an interest rate equal to 3.25% and is repayable in fifteen annual installments through 2035. Each year, the Bank makes discretionary contributions to the ESOP equal to the principal and interest payment required on the loan from the Company. The ESOP may further pay down the principal balance of the loans by using dividends paid, if any, on the shares of Company common stock it owns. The balance remaining on the first ESOP loan was $919,000 and $1,327,000 at December 31, 2023 and 2022. The balance remaining on the second ESOP loan was $6,417,000 and $6,850,000 at December 31, 2023 and 2022. Shares purchased with the loan proceeds serve as collateral for the loan and are held in a suspense account for future allocation among ESOP participants. As the loan principal is repaid, shares will be released from the suspense account and become eligible for allocation. The allocation among plan participants will be as described in the ESOP governing document. ESOP shares initially pledged as collateral were recorded as unearned ESOP shares in the stockholders’ equity section of the consolidated statement of financial condition. Thereafter, on a monthly basis over the terms of the ESOP loans, approximately 2,894 shares for the ESOP established in 2006 and approximately 4,348 shares for the ESOP Note 17 - Benefits Plans (continued) ​ Employee Stock Ownership Plan (“ESOP”)(continued) established in 2022 are committed to be released respectively. Compensation expense is recorded equal to the shares committed to be released multiplied by the average closing price of the Company’s stock during that month. ESOP expense during the years ended December 31, 2023 and 2022, totaled approximately $1,314,000 and $1,075,000, respectively. Dividends on unallocated shares, which totaled approximately $188,000 and $365,000 during 2023 and 2022, respectively, are recorded as a reduction of the ESOP loan. Dividends on allocated shares, which totaled approximately $167,000 and $255,000 during 2023 and 2022, respectively, are charged to retained earnings. ​ ESOP shares are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2023 ​ 2022 Allocated shares ​ ​ 694,842 ​ 607,922 Shares committed to be released ​ ​ 86,920 ​ 86,920 Unearned shares ​ ​ 695,647 ​ 782,567 Total ESOP Shares ​ ​ 1,477,409 ​ 1,477,409 Less allocated shares distributed to former or retired employees ​ ​ (143,612) ​ (122,280) Total ESOP Shares Held by Trustee ​ ​ 1,333,797 ​ 1,355,129 Fair value of unearned shares ​ $ 12,340,778 ​ $ 11,675,897 ​

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2023
Stock Based Compensation
Stock Based Compensation	Note 18 – Stock Based Compensation At a special shareholders meeting held on September 29, 2022, the Company’s shareholders approved the Company’s 2022 Equity Incentive Plan whereby 1,369,771 shares of the Company’s common stock were reserved from authorized but unissued shares for purposes of grants of incentive stock options, nonqualified stock options, restricted stock, restricted stock units, performance shares and performance units to selected employees and non-employee directors of the Company. The product of the number of shares granted and the grant date market price of the Company’s common stock determine the fair value of restricted stock under the Company’s 2022 Equity Incentive plan. Management recognizes compensation expense for the fair value of restricted stock on a straight-line basis over the requisite service period for the entire award. As of December 31, 2023, there were 132,759 shares available for future awards under this plan, which includes 98,311 shares available for stock options and 34,448 shares available for restricted stock awards. ​ Note 18 – Stock Based Compensation (continued) A summary of the Company’s restricted stock activity and related information for the year ended December 31 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Shares ​ Market Price Outstanding, Beginning of year ​ ​ 352,037 $ 13.67 Granted ​ ​ 4,878 ​ 16.88 Forfeited ​ ​ — ​ — Vested ​ ​ 70,407 ​ — Outstanding, end of year ​ ​ 286,508 ​ $ 13.72 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Shares ​ Market Price Outstanding, Beginning of year ​ ​ — $ — Granted ​ ​ 352,037 ​ 13.67 Forfeited ​ ​ — ​ — Vested ​ ​ — ​ — Outstanding, end of year ​ ​ 352,037 ​ $ 13.67 ​ Compensation expense related to restricted stock was $968,000 and $116,000 for the years ended December 31, 2023 and 2022. At December 31, 2023 and 2022, the total compensation cost related to non-vested awards that has not yet been recognized was $3.8 million and $4.7 million, which is expected to be recognized over the next 5 years. ​ Note 18 – Stock Based Compensation (continued) A summary of the Company’s stock option activity and related information for the years ended December 31 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Options ​ Exercise Price Outstanding, Beginning of year ​ ​ 880,097 $ 13.67 Granted ​ ​ — ​ — Forfeited ​ ​ — ​ — Exercised ​ ​ — ​ — Outstanding, end of year ​ ​ 880,097 ​ $ 13.67 Exercisable at end of year ​ ​ 176,019 ​ ​ 13.67 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Options ​ Exercise Price Outstanding, Beginning of year ​ ​ — $ — Granted ​ ​ 880,097 ​ 13.67 Forfeited ​ ​ — ​ — Exercised ​ ​ — ​ — Outstanding, end of year ​ ​ 880,097 ​ $ 13.67 Exercisable at end of year ​ ​ — ​ ​ — Weighted average fair value ​ ​ ​ ​ ​ ​ of options granted in current year ​ ​ ​ ​ $ 4.36 ​ The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions: ​ ​ ​ ​ ​ ​ Pricing Model Assumption Ranges ​ 2022 Risk-free interest rate ​ 3.87 - 3.97 % Expected volatility ​ 28.79 - 28.94 % Expected dividend yield ​ 1.70 - 1.94 % Expected life ​ 7.50 ​ ​ The Compensation cost related to stock options is recognized based on the fair value of the stock options at the grant date on a straight line basis over the vesting period. Compensation expense related to stock options was $768,000 and $92,000 for the years ended December 31, 2023 and 2022. At December 31, 2023, unrecognized compensation cost related to stock option awards was $3.0 million, which is expected to be recognized over the next 5 years.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases
Leases	​ ​ Note 19 - Leases The Company has operating leases and finance leases all comprised of real estate property. The operating leases comprise substantially all of the Company’s obligations in which the Company is the lessee, with remaining lease terms ranging between 1 and 10 years. Most operating lease agreements consist of initial lease terms ranging between 5 and 10 years, with options to renew the leases or extend the term. The finance lease has a remaining lease term of 93 years. The payment structure of all leases is fixed rental payments with lease payments increasing on pre-determined dates at either a predetermined amount or change in the consumer price index. In accordance with ASC 842, the Company recognized operating and financing lease assets and corresponding lease liabilities related to office facilities and retail branches. The operating and financing lease assets represent the Company’s right to use an underlying asset for the lease term, and the lease liability represents the Company’s obligation to make lease payments over the lease term. The Company has elected that any short term leases would be expensed as incurred. The operating and financing lease asset and lease liability are determined at the commencement date of the lease based on the present value of the lease payments. Our leases do not provide an implicit interest rate. The company used its incremental borrowing rate, the rate of interest to borrow in a collateralized basis for a similar term, at the lease commencement date. All of the leases are net leases and, therefore, do not contain non-lease components. The Company either pays directly or reimburses the lessor for property and casualty insurance cost and the property taxes assessed on the property, as well as a portion of the common area maintenance associated with the property which are categorized as non-components as outlined in the applicable guidance. ​ Note 19 – Leases (continued) The quantitative data relates to the Company’s leases are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Finance Lease Amounts: ​ ​ ​ ROU asset ​ $ 351 ​ $ 355 ​ Lease liability ​ $ 571 ​ $ 533 ​ Operating Lease Amounts: ​ ​ ​ ​ ​ ROU assets ​ $ 4,566 ​ $ 2,312 ​ Lease liabilities ​ $ 4,625 ​ $ 2,363 ​ Finance Lease Cost ​ ​ ​ Amortization of ROU asset ​ $ 4 ​ $ 4 ​ Interest on lease liability ​ $ 38 ​ $ 37 ​ Operating Lease Costs ​ $ 566 ​ $ 567 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Finance lease ​ $ — ​ $ — ​ Operating leases ​ $ 511 ​ $ 558 ​ Weighted-average remaining lease term ​ ​ ​ Finance lease ​ 93 years ​ 94 years ​ Operating leases ​ 8.58 years ​ 6.19 years ​ Weighted-average discount rate ​ ​ ​ Finance lease ​ 9.50 % 9.50 % Operating leases ​ 5.18 % 1.50 % ​ Maturities of lease liabilities at December 31, 2023 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2024 ​ $ 740 ​ $ 30 2025 ​ 738 ​ 30 2026 ​ 622 ​ 31 2027 ​ 637 ​ 36 2028 ​ 595 ​ 36 Thereafter ​ 2,475 ​ 4,016 Total lease payments ​ $ 5,807 ​ $ 4,179 Interest ​ (1,182) ​ (3,608) Lease liability ​ $ 4,625 ​ $ 571 ​

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2023
Contingencies
Contingencies	Note 20 – Contingencies The Company and Bank are also subject to claims and litigation that arise primarily in the ordinary course of business. Based on information presently available and advice received from legal counsel representing the Company and Bank in connection with such claims and litigation, it is the opinion of management that the disposition or ultimate determination of such claims and litigation will not have a material adverse effect on the consolidated financial position, results of operations or liquidity of the Company. ​

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures
Fair Value Disclosures	Note 21 - Fair Value Disclosures The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The Company’s securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company has to record at fair value other assets and liabilities on a non-recurring basis, such as securities held to maturity, impaired loans and other real estate owned. U.S. GAAP has established 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. The following table sets forth the Company’s assets that are carried at fair value on a recurring basis and the level that was used to determine their fair value at December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Recurring Basis ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, Description 2023 2022 2023 2022 2023 2022 2023 2022 Assets: ​ ​ ​ ​ ​ ​ ​ ​ Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ Mutual funds ​ $ 18,102 ​ $ 18,041 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 18,102 ​ $ 18,041 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ FHLMC ​ — ​ — ​ — ​ 1 ​ — ​ — ​ — ​ 1 Total assets ​ $ 18,102 ​ $ 18,041 ​ $ — ​ $ 1 ​ $ — ​ $ — ​ $ 18,102 ​ $ 18,042 ​ There were no transfers between Level 1 and 2 during the years ended December 31, 2023 and 2022. The Company did not have any liabilities that were carried at fair value on a recurring basis at December 31, 2023 and 2022. ​ Note 21 – Fair Value Disclosures (continued) The following table sets forth the Company’s assets that are carried at fair value on a non-recurring basis and the level that was used to determine their fair value, at December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Non-Recurring Basis ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, Description 2023 2022 2023 2022 2023 2022 2023 2022 ​ (In Thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ Collateral dependent loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,385 ​ $ 855 ​ $ 4,385 ​ $ 855 Real estate owned ​ — ​ — ​ — ​ — ​ 1,456 ​ 1,456 ​ 1,456 ​ 1,456 Total assets ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,841 ​ $ 2,311 ​ $ 5,841 ​ $ 2,311 ​ The following tables present the qualitative information about non-recurring Level 3 fair value measurements of financial instruments at the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 ​ Fair Valuation Unobservable ​ Weighted ​ ​ Value ​ Technique ​ Input ​ Range ​ Average ​ ​ (In Thousands) Assets: ​ ​ ​ Collateral dependent loans ​ $ 4,385 Income approach Capitalization rate 6.00 % 6.00 % Real estate owned ​ 1,456 Income approach Capitalization rate 12.00 % 12.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ Fair Valuation Unobservable ​ Weighted ​ ​ Value ​ Technique ​ Input ​ Range ​ Average ​ ​ (In Thousands) Assets: ​ ​ ​ Impaired loans ​ $ 855 Income approach Capitalization rate 5.60 % 5.60 % Real estate owned ​ 1,456 Income approach Capitalization rate 12.00 % 12.00 % ​ The Company did not have any liabilities that were carried at fair value on a non-recurring basis at December 31, 2023 and 2022. The methods and assumptions used to estimate fair value at December 31, 2023 and 2022 are as follows: For real estate owned, fair value is generally determined through independent appraisals or fair value estimations of the underlying properties which generally include various Level 3 inputs which are not identifiable. The appraisals or fair value estimation may be adjusted by management for qualitative reasons and estimated liquidation expenses. Management’s assumptions may include consideration of location and occupancy of the property and current economic conditions. Subsequently, as these properties are actively marketed, the estimated fair values may be periodically adjusted through incremental subsequent write-downs to reflect decreases in estimated values resulting from sales price observations and the impact of changing economic and market conditions. A loan is considered individually evaluated for credit loss when, based upon current information and events, it is probable that the Company will be unable to collect all scheduled payments in accordance with the contractual terms of the loan. Individually evaluated loans that are collateral dependent are written down to fair value through the establishment of specific reserves, a component of the allowance for credit losses or through partial charge-offs, and Note 21 – Fair Value Disclosures (continued) as such are carried at the lower of cost or the fair value. Estimates of fair value of the collateral are determined based on a variety of information, including available valuations from certified appraisers for similar assets, present value of discounted cash flows and inputs that are estimated based on commonly used and generally accepted industry liquidation advance rates and estimates and assumptions developed by management. The appraisals may be adjusted by management for estimated liquidation expenses and qualitative factors such as economic conditions. If real estate is not the primary source of repayment, present value of discounted cash flows and estimates using generally accepted industry liquidation advance rates are utilized. Due to the multitude of assumptions, many of which are subjective in nature, and the varying inputs and techniques used by appraisers, the Company recognizes that valuations could differ across a wide spectrum of valuation techniques employed and accordingly, fair value estimates for impaired loans are classified as Level 3. ​ 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 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. 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, 2023 and 2022: Securities Fair values for marketable equity securities are determined by quoted market prices on nationally recognized and foreign securities exchanges (Level 1). Fair values for securities available for sale and held to maturity are determined utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayments speeds, credit information and the security’s terms and conditions, among other things. ​ Note 21 - Fair Value Disclosures (continued) Securities (continued) The carrying amounts and estimated fair value of our financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at December 31, 2023 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 68,671 ​ $ 68,671 ​ $ 68,671 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 18,102 ​ ​ 18,102 ​ ​ 18,102 ​ ​ — ​ ​ — Securities held to maturity ​ ​ 15,860 ​ ​ 13,126 ​ ​ — ​ ​ 13,126 ​ ​ — Loans receivable ​ ​ 1,581,804 ​ ​ 1,552,219 ​ ​ — ​ ​ — ​ ​ 1,552,219 Investments in restricted stock ​ ​ 929 ​ ​ 929 ​ ​ — ​ ​ 929 ​ ​ — Accrued interest receivable ​ ​ 12,311 ​ ​ 12,311 ​ ​ — ​ ​ 12,311 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 1,400,036 ​ ​ 1,401,083 ​ ​ — ​ ​ 1,401,083 ​ ​ — Borrowings ​ ​ 64,000 ​ ​ 63,053 ​ ​ — ​ ​ 63,053 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at December 31, 2022 ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 95,308 ​ $ 95,308 ​ $ 95,308 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 18,041 ​ ​ 18,041 ​ ​ 18,041 ​ ​ — ​ ​ — Securities available for sale ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ — Securities held to maturity ​ ​ 26,395 ​ ​ 22,865 ​ ​ — ​ ​ 22,865 ​ ​ — Loans receivable ​ ​ 1,212,219 ​ ​ 1,191,483 ​ ​ — ​ ​ — ​ ​ 1,191,483 Investments in restricted stock ​ ​ 1,238 ​ ​ 1,238 ​ ​ — ​ ​ 1,238 ​ ​ — Accrued interest receivable ​ ​ 8,597 ​ ​ 8,597 ​ ​ — ​ ​ 8,597 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 1,121,955 ​ ​ 1,121,107 ​ ​ — ​ ​ 1,121,107 ​ ​ — FHLB of New York advances ​ ​ 21,000 ​ ​ 19,437 ​ ​ — ​ ​ 19,437 ​ ​ — ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions
Related Party Transactions	Note 22 – Related Party Transactions The Company had no loans to related parties at December 31, 2023 and 2022. In addition, the Company did not originate any loans to related parties in 2023 and 2022. Deposits of related parties at the Company totaled $2.1 million and $2.4 million at December 31, 2023 and 2022, respectively. Kevin P. O’Malley is an attorney with Kevin P. O’Malley, P.C., a law firm that provides construction loan closing services to borrowers of the Company. During the fiscal year ended December 31, 2023 and 2022, construction loan borrowers of the Company paid $497,000 and $835,000 respectively in legal fees to Mr. O’Malley’s law firm in connection with closing of construction loans. In addition, in fiscal year 2023 and 2022, the Company paid Mr. O’Malley’s law firm zero and $3,000 for legal services provided on a corporate related matter. ​

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2023
Revenue Recognition
Revenue Recognition	Note 23 – Revenue Recognition The majority of the Company’s revenues come from interest income and other sources, including loans and securities that are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented within noninterest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include deposit service charges on deposits, electronic banking fees and charges income, and investment advisory fees. A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as referral fees based month end reports. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of December 31, 2023, the Company did not have any significant contract balances. All of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s sources of noninterest income for the years ended December 31, 2023 and 2022. Sources of revenue outside the scope of ASC 606 are noted as such: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 ​ ​ (In Thousands) Non-interest income: ​ ​ ​ Deposit-related fees and charges ​ $ 55 ​ $ 67 Loan-related fees and charges (1) ​ 892 ​ 1,064 Electronic banking fees and charges ​ 944 ​ 863 (Loss) gain on disposition of equipment (1) ​ (18) ​ 98 Income from bank owned life insurance (1) ​ 1,013 ​ 604 Investment advisory fees ​ 458 ​ 474 Realized and unrealized gain (loss) on equity securities (1) ​ 294 ​ (1,573) Miscellaneous (1) ​ 105 ​ 86 Total non-interest income ​ $ 3,743 ​ $ 1,683 (1) Not within the scope of ASC 606. ​ Note 23 – Revenue Recognition (continued) A description of the Company’s revenue streams accounted for under ASC 606 is as follows: Service Charges on Deposit Accounts The Company earns fees from deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed at the point in the time the Company fulfills the customer’s request. The Company discontinued the imposition of overdraft fees on all consumer and business accounts in August 2022. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Electronic Banking Fee Income The Company earns interchange fees from debit and credit card holder transactions conducted through various payment networks. Interchange fees from cardholder transactions are recognized daily, concurrently with the transaction processing services provided by an outsourced technology solution. Investment Advisory Fees The Company earns fees from investment advisory and financial planning services under the name of Harbor West Financial Planning Wealth Management, a division of the Company through a networking arrangement with a registered broker-dealer and investment advisor. The registered broker-dealer deducts investment advisory fees and financial planning services fees from the client’s assets under management and remits the fees, net of administrative fees, to the Company on a monthly basis. The Company recognizes the fees into non-interest income upon receipt of the monthly remittances.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2023
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 24 – Recent Accounting Pronouncements Accounting Standards Pending Adoption: In July 2023, the FASB issued ASU 2023-03, Presentation of Financial Statements (Topic 205), Income Statement-Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation-Stock Compensation (Topic 718), which amends or supersedes various SEC paragraphs within the Codification to conform to past SEC announcements and guidance issued by the SEC. The ASU does not provide any new guidance so there is no transition or effective date associated with it. This ASU did not have a significant impact on the Company’s financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvement: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which incorporates several SEC disclosure requirements into US GAAP and adds interim and annual disclosure requirements to a variety of topics in the Accounting Standards Codification, including those focusing on accounting changes, earnings per share, debt and repurchase agreements. For entities subject to the SEC disclosure requirements and those “required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer,” the US GAAP requirements will be effective when the removal of the related SEC rule is effective. Early adoption is not permitted for these entities. For all other entities, the effective date will be two years later, and early adoption is permitted. That is, financial statements issued after the effective date of each amendment are required to include on a prospective basis the related disclosure incorporated into US GAAP by this ASU. However, if the SEC does not act to remove its related requirements by June 30, 2027, any related FASB amendments will be removed from the Codification and will not be effective for any entities. ​ Note 24 – Recent Accounting Pronouncements (continued) In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, requires the amount of net income taxes paid for federal, state, and foreign taxes, as well as the amount paid to any jurisdiction that net taxes exceed a 5% quantitative threshold. The amendments will require the disclosure of pre-tax income disaggregated between domestic and foreign, as well as income tax expense disaggregated by federal, state, and foreign. The amendment also eliminates certain disclosures related to unrecognized tax benefits and certain temporary differences. This ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted in any annual period where financial statements have not yet been issued. The amendments should be applied on a prospective basis but retrospective application is permitted. The Company does not expect adoption of the standard to have a material impact on its Consolidated Financial Statements.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events
Subsequent Events	Note 25 - Subsequent Events The Company has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued.

Parent Company Only Financial I

Parent Company Only Financial Information	12 Months Ended
	Dec. 31, 2023
Parent Company Only Financial Information
Parent Company Only Financial Information	Note 26 – Parent Company Only Financial Information The following are the condensed financial statements for Northeast Community Bancorp, Inc. (Parent company only) as of December 31, 2023 and 2022 and for the years then ended. Condensed Statements of Financial Condition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 ​ ​ (In Thousand) Assets ​ ​ ​ Cash and due from banks ​ $ 4,268 ​ $ 20,334 Investment in subsidiary ​ 254,654 ​ 220,706 Loans receivable, net of allowance for credit losses of  $45 and $92, respectively (1) ​ 14,121 ​ 13,688 ESOP loan receivable ​ 7,336 ​ 8,177 Total Assets ​ $ 280,379 ​ $ 262,905 Liabilities and Stockholders’ Equity ​ ​ Accounts payable and accrued expenses ​ $ 1,054 ​ $ 916 Total Liabilities ​ 1,054 ​ 916 Total Stockholders’ Equity ​ 279,325 ​ 261,989 Total Liabilities and Stockholders’ Equity ​ $ 280,379 ​ $ 262,905 (1) Represents participation loans purchased from the Bank ​ Note 26 – Parent Company Only Financial Information (continued) Condensed Statements of Income and Comprehensive Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ 2023 2022 ​ ​ (In Thousand) Interest income – loans ​ $ 1,371 ​ $ 240 Interest income – ESOP loan ​ 333 ​ 377 Interest income – interest-earning deposits ​ 179 ​ 343 Dividend income from subsidiary ​ ​ 14,000 ​ ​ — Operating expenses ​ (2,298) ​ (956) Income before Income Tax Expense and Equity in Undistributed Earnings of Subsidiary ​ 13,585 ​ 4 Income tax (benefit) expense ​ (120) ​ 1 Income before Equity in Undistributed Earnings of Subsidiary ​ 13,705 ​ 3 Equity in undistributed earnings of subsidiary ​ 32,571 ​ 24,840 Net Income ​ $ 46,276 ​ $ 24,843 Comprehensive Income ​ $ 46,336 ​ $ 25,138 ​ Statements of Cash Flow ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ 2023 2022 ​ ​ (In Thousand) Cash Flows from Operating Activities ​ ​ ​ Net income ​ $ 46,276 ​ $ 24,843 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ Equity in undistributed earnings of subsidiary ​ (32,571) ​ (24,840) Other, net ​ 2,183 ​ 544 Net Cash Provided by Operating Activities ​ 15,888 ​ 547 Cash Flows from Investing Activities ​ ​ Repayment of ESOP loan ​ 841 ​ 796 Net increase in loans ​ ​ (433) ​ ​ (9,211) Net Cash Provided (Used in) by Investing Activities ​ 408 ​ (8,415) Cash Flows from Financing Activities ​ ​ Cash dividends paid ​ (3,652) ​ (6,868) Stock repurchase ​ ​ (28,710) ​ ​ (9,318) Net Cash Used in Financing Activities ​ (32,362) ​ (16,186) Net Decrease in Cash and Cash Equivalents ​ (16,066) ​ (24,054) Cash and Cash Equivalents – Beginning ​ 20,334 ​ 44,388 Cash and Cash Equivalents – Ending ​ $ 4,268 ​ $ 20,334 ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Nature of Business:	Nature of Business: Northeast Community Bancorp, Inc. (the “Company”) is a Maryland corporation that was incorporated in May 2021 to be the successor to NorthEast Community Bancorp, Inc., a federally chartered corporation (the “Mid-Tier Holding Company”), upon completion of the second-step conversion of NorthEast Community Bank (the “Bank”) from the two-tier mutual holding company structure to the stock holding company structure. NorthEast Community Bancorp, MHC was the former mutual holding company for the Mid-Tier Holding Company prior to the completion of the second-step conversion. In conjunction with the second-step conversion, each of NorthEast Community Bancorp, MHC and the Mid-Tier Holding Company merged out of existence and now cease to exist. The Bank is a New York State-chartered savings bank and the Company’s primary activity is the ownership and operation of the Bank. The Bank is headquartered in White Plains, New York. The Bank was founded in 1934 and is a community oriented financial institution dedicated to serving the financial services needs of individuals and businesses within its market area. The Bank currently conducts business through its eleven branch offices located in Bronx, New York, Orange, Rockland, and Sullivan Counties in New York and Essex, Middlesex and Norfolk Counties in Massachusetts and three loan production offices located in White Plains, New York, New City, New York and Danvers, Massachusetts. The Bank’s principal business consists of originating primarily construction loans and, to a lesser extent, commercial and industrial loans, and multifamily and mixed-use residential real estate loans and non-residential real estate loans. The Bank offers a variety of retail deposit products to the general public in the areas surrounding its main office and its branch offices, with interest rates that are competitive with those of similar products offered by other financial institutions operating in its market area. The Bank also utilizes borrowings as a source of funds. The Bank’s revenues are derived primarily from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities. The Bank also generates revenues from other income including deposit fees, service charges and investment advisory fees. The Bank also offers investment advisory and financial planning services under the name Harbor West Wealth Management Group, a division of the Bank, through a networking arrangement with a registered broker-dealer and investment advisor. The agreement to sell all the Bank’s assets relating to Harbor West Wealth Management Group to a third party was executed in December 2023, with the transaction closing in January 2024. New England Commercial Properties LLC (“NECP”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2007 to facilitate the purchase or lease of real property by the Bank. New England Commercial Properties, LLC currently owns one foreclosed property located in Pennsylvania. NECB Financial Services Group, LLC (“NECB Financial”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in the third quarter of 2012 as a complement to Harbor West Wealth Management Group to sell life insurance and fixed rate annuities. NECB Financial is licensed in New York State. We terminated our license in Connecticut on February 22, 2024 due to the sale of all the Bank’s assets relating to Harbor West Wealth Management Group to a third party in January 2024. ​ ​ ​ Note 1 - Summary of Significant Accounting Policies (continued) 72 West Eckerson LLC (“72 West Eckerson”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2015 to facilitate the purchase or lease of real property by the Bank and currently owns the Bank branch locations in Spring Valley, New York and Monroe, New York. 166 Route 59 Realty LLC (“166 Route 59 Realty”), a New York limited liability company and wholly owned subsidiary of the Bank, was formed in April 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the Bank branch located in Airmont, New York. 3 Winterton Realty LLC, a New York limited liability company and wholly owned subsidiary of the Bank, was formed in October 2021 to facilitate the purchase or lease of real property by the Bank and currently owns the property for a Bank branch located in Bloomingburg, New York.
Principles of Consolidation:	Principles of Consolidation: The consolidated financial statements include the accounts of the Company, the Bank, NECP, NECB Financial, 72 West Eckerson, 166 Route 59 Realty, and 3 Winterton Realty LLC (collectively the “Company”) and have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All significant inter-company accounts and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company and its subsidiaries conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and to the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-K and Article 10 of Regulation S-X. When necessary, certain reclassifications were made to prior year amounts to conform with current year presentation.
Use of Estimates:	Use of Estimates: The preparation of consolidated financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect certain recorded amounts and disclosures. Accordingly, actual results could differ from those estimates. The most significant estimate pertains to the allowance for credit losses. The borrowers’ abilities to meet contractual obligations and collateral value are the most significant assumptions used to arrive at the estimate. The risks associated with such estimates arise when unforeseen conditions affect the borrowers’ abilities to meet the contractual obligations of the loan and result in a decline in the value of the supporting collateral. Such unforeseen changes may have an adverse effect on the consolidated results of operations and financial position of the Company. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for credit losses. Such agencies may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.
Cash and Cash Equivalents:	Cash and Cash Equivalents: Cash and cash equivalents include cash and amounts due from depository institutions and interest-bearing deposits in other banks, all with original maturities of 90 days or less.
Certificates of Deposit:	Certificates of Deposit: Certificates of deposit are carried at cost which approximates fair value and have maturities of less than one year. ​
Securities:	Securities: The Company classifies its debt securities as held to maturity or available for sale at the time of purchase. Held to maturity securities are those debt securities which management has the intent and the Company has the ability to hold to maturity and are reported at amortized cost. Available-for-sale securities are those debt securities which are neither held to maturity securities nor trading securities and are reported at fair value, with unrealized gains and losses, net of the related income tax effect, excluded from earnings and reported in a separate component of stockholders’ equity. Premiums and discounts on all securities are generally amortized or accreted to the maturity date utilizing the level-yield method taking into consideration the impact of principal amortization and prepayments, as applicable. Gain or loss on sales of securities is based on the specific identification method. Effective January 1, 2023, the Company adopted the provisions of ASC 326 and modified its accounting policy for the assessment of available for sale securities for impairment. Under ASC 326, 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, any changes to the rating by a rating agency, 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. Under ASC 326, changes in the allowance for credit losses are recorded as provision for, or reversal of, credit loss expense. Losses are charged against the allowance when management believes the uncollectibility of an available for sale security is confirmed or when either of the criteria regarding intent or requirement to sell is met. Equity securities are carried at fair value with changes in fair value reported in income.
Loans Receivable:	Loans Receivable: Loans are stated at unpaid principal balances plus net deferred loan origination fees and costs less an allowance for credit losses. Interest on loans receivable is recorded on the accrual basis. An allowance for uncollected interest is established on loans where management has determined that the borrowers may be unable to meet contractual principal and/or interest obligations or where interest or principal is 90 days or more past due, unless the loans are well secured with a reasonable expectation of collection. When a loan is placed on nonaccrual, an allowance for uncollected interest is established and charged against current income. Thereafter, interest income is not recognized unless the financial condition and payment record of the borrower warrant the recognition of interest income. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. Interest on loans that have been restructured is accrued according to the renegotiated terms. Net loan origination fees and costs are deferred and amortized into interest income over the contractual lives of the related loans by use of the level yield method. Past due status of loans is based upon the contractual due date. Note 1 - Summary of Significant Accounting Policies (continued) Prepayment penalties received on loans which pay in full prior to the scheduled maturity are included in interest income in the period the prepayment penalties are collected.
Accounting Pronouncements Adopted in 2023:	Accounting Pronouncements Adopted in 2023: Effective January 1, 2023, the Company adopted Accounting Standards Topic 326, “Financial Instruments – Credit Losses” which replaced the previously existing U.S. GAAP “incurred loss” approach to “expected credit losses” approach, which is referred as Current Expected Credit Losses (“CECL”). CECL measures the credit loss associated with financial assets carried at amortized cost, including loan receivables, held-to-maturity debt securities, off balance sheet credit exposures. The Company adopted Topic 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balances sheet exposures. Results for reporting periods beginning after January 1, 2023 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, we recorded a cumulative-effect adjustment totaling $134,000, or $99,000, net of tax, to reduce retained earnings. The transition adjustment includes the adoption and changes to the three applicable components of the allowance for credit losses (“ACL”): a decrease of $1.6 million in the allowance for credit losses related to loans, an increase of $132,000 in the allowance for credit losses related to held-to-maturity debt securities, and an increase of $1.6 million in the allowance for credit losses related to off-balance sheet items. The following table illustrates the impact of adopting ASC 326: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2023 ​ ​ Pre-Adoption ​ Adoption Impact ​ As Reported ​ ​ (In Thousands) Assets ​ ​ ​ ​ ​ ​ ACL on debt securities held-to-maturity ​ ​ ​ ​ ​ ​ Municipal Bonds $ - $ 132 $ 132 ACL on loan receivables ​ ​ ​ ​ ​ ​ Residential real estate ​ 528 ​ 895 ​ 1,423 Non-residential real estate ​ 131 ​ 7 ​ 138 Construction ​ 3,835 ​ (2,086) ​ 1,749 Commercial and industrial ​ 955 ​ (437) ​ 518 Consumer ​ 18 ​ 44 ​ 62 Unallocated ​ 7 ​ (7) ​ - ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ACL for off-balance sheet exposure ​ - ​ 1,586 ​ 1,586 ​ $ 5,474 $ 134 $ 5,608 ​
Allowance for Credit Losses - Loans	Allowance for Credit Losses - Loans The allowance for credit losses related to loans is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loans, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The ACL is an estimate of expected credit losses, measured over the contractual life of a loan, that considers our historical loss experience, current conditions and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. Note 1 - Summary of Significant Accounting Policies (continued) The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of loans that do not share risk characteristics with other loans. The allowance for credit losses related to loans is measured on a collective (pool) basis when similar risk characteristics exist. If the risk characteristics of a loan change, such that they are no longer similar to other loans in the pool, the Company will evaluate the loan with a different pool of loans that 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. The Company evaluates the pooling methodology at least annually. Loans are charged off against the allowance for credit losses related to loans 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. Such segments include residential real estate, non-residential real estate, construction, commercial and industrial business, and consumer. For most segments the Company calculates estimated credit losses using a probability of default and loss given default methodology, the results of which are applied to each individual loan within the segment. The point in time probability of default and loss given default are then conditioned by macroeconomic scenarios to incorporate reasonable and supportable forecasts that affect the collectability of the reported amount. The Company estimates the allowance for credit losses related to loans via a quantitative analysis which considers relevant available information from internal and external sources related to past events and current conditions, as well as the incorporation of reasonable and supportable forecasts. The Company evaluates a variety of factors including third party economic forecasts, industry trends and other available published economic information in arriving at its forecasts. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications. Also included in the allowance for credit losses related to loans are qualitative reserves to cover losses that are expected but, in the Company’s assessment, might not be adequately represented in the quantitative analysis or the forecasts described above. Factors that the Company considers include changes in lending policies and procedures, business conditions, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due loans and non-accrual loans, the effect of external factors such as competition, legal and regulatory requirements, among others. Qualitative loss factors are applied to each portfolio segment with the amounts judgmentally determined by the relative risk to the most severe loss periods identified in the historical loan charge-offs of the Company. The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. On a case-by-case basis, the Company may conclude that a loan should be evaluated on an individual basis based on the loan’s 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, the loan’s observable market price 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 - Held-to-Maturity Debt Securities	Allowance for Credit Losses – Held-to-Maturity Debt Securities The allowance for credit losses related to held-to-maturity debt securities is a valuation reserve established and maintained by charges against income and is deducted from the amortized cost basis of held-to-maturity debt securities to present the net amount expected to be collected on the held-to-maturity debt securities. Losses, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When an investment is placed on non-accrual status, any outstanding accrued interest is reversed against interest income.
Allowance for Credit Losses Related to Off-Balance Sheet Credit Exposures	Allowance for Credit Losses Related to Off-Balance Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses related to off-balance sheet credit exposures is adjusted through credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Based on management’s comprehensive analysis of the credit portfolio, management believes the allowance for credit losses is appropriate as of December 31, 2023 and 2022, respectively.
Concentration of Risk:	Concentration of Risk: The Company’s lending activity is concentrated in construction and permanent loans secured by multi-family and non-residential real estate located primarily in the Northeast and Mid-Atlantic regions of the United States. As of December 31, 2023 and 2022, the Company had majority of construction loans located in New York state, including $626.0 million and $440.6 million in the Bronx, $198.5 million and $122.4 million in the Town of Monroe, $133.7 million and $103.8 million in the Hamlet of Monsey, $105.9 million and $104.3 million in the Village of Spring Valley, and $18.8 million and $31.8 million in Brooklyn. The Company also had deposits in excess of the FDIC insurance limit at other financial institutions. At December 31, 2023 and 2022, such deposits totaled $43.2 million and $59.0 million held by the Federal Reserve Bank of New York, $13.7 million and $26.4 million held by the Federal Home Loan Bank of New York, and $430,000 and $1.0 million held by Atlantic Community Bankers Bank (“ACBB”). Generally, deposits in excess of $250,000 are not insured by the FDIC.
Premises and Equipment:	Premises and Equipment: Land is stated at cost. Buildings and improvements, leasehold improvements and furnishings and equipment are stated at cost less accumulated depreciation and amortization computed on the straight-line method over the following useful lives: ​ ​ ​ ​ ​ Years Buildings 30 – 50 Building improvements 10 – 50 Leasehold improvements 1 – 15 Furnishings and equipment 3 – 5 ​ Maintenance and repairs are charged to operations in the years incurred. ​ Note 1 - Summary of Significant Accounting Policies (continued) Property and equipment are evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable. In evaluating property and equipment for recoverability, we use our best estimate of future cash flows expected to result from the use of the asset and its eventual disposition. To the extent that estimated future undiscounted net cash flows attributable to the asset are less than the carrying amount, an impairment loss is recognized equal to the difference between the carrying value of such asset and its fair value. The Company did not have impairment recorded for property and equipment in 2023 and 2022.
Bank Owned Life Insurance ("BOLI"):	Bank Owned Life Insurance (“BOLI”): The Company owns life insurance on the lives of certain of its officers. The cash surrender value is recorded as an asset and the change in cash surrender value is included in non-interest income and is tax-exempt. The BOLI can be liquidated, if necessary, with tax consequences. However, the Company intends to hold these policies and, accordingly, the Company has not provided for deferred income taxes on the earnings from the increase in cash surrender value.
Investments in Restricted Stock:	Investments in Restricted Stock: Federal law requires a member institution of the Federal Home Loan Bank (“FHLB”) system to hold stock of its district FHLB according to a predetermined formula. The Company also owns restricted stock in Atlantic Community Bancshares, Inc. (ACBI), holding company of ACBB, a correspondent banker’s bank. These stocks are carried at cost. At December 31, 2023 and 2022, the Company had $859,000 and $1.2 million in FHLB stock, and $70,000 and $70,000 in ACBB stocks.
Goodwill:	Goodwill: Goodwill at December 31, 2023 and 2022 totaled zero and $200,000, respectively, and consists of goodwill acquired in the business combination completed by the Company in November 2007. The Company tests goodwill during the fourth quarter of each year for impairment, or more frequently if certain indicators are present or changes in circumstances suggest that impairment may exist. The Company utilizes a two-step approach. The first step requires a comparison of the carrying value of the reporting unit to the fair value of the unit. The Company estimates the fair value of the reporting unit through internal analyses and external valuation, which utilizes an income approach based on the present value of future cash flows. If the carrying value of the reporting unit exceeds its fair value, impairment exists and the Company will perform the second step of the goodwill impairment test to measure the amount of impairment loss, if any. The second step of the goodwill impairment test, if necessary, compares the implied fair value of a reporting unit’s goodwill with its carrying value. The implied fair value of goodwill is determined in the same manner that the amount of goodwill recognized in a business combination is determined. The Company allocates the fair value of the reporting unit to all of the assets and liabilities of that unit, including identifiable intangible assets, as if the reporting unit had been acquired in a business combination. Any excess of the value of a reporting unit over the amounts assigned to its assets and liabilities is the implied fair value of goodwill. Impairment charges of $451,000 were recorded in 2022 due to increased capitalization rate when evaluating the investment value of the goodwill. As of December 31, 2023, the goodwill was eliminated along with the sale of Harbor West Wealth Management Group to a third party in December 2023. The sale resulted in a total of $138,000 loss recognized on the consolidated statement of income.
Real Estate Owned:	Real Estate Owned: Real estate owned is carried at the lower of cost or fair value of the related property, as determined by current appraisals less estimated costs to sell. Foreclosed real estate is initially recorded at the fair value of property acquired minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Write-downs on these properties, which occur after the initial transfer from the loan portfolio, are recorded as operating expenses. Costs of holding such properties are charged to non-interest expense in the current period. Gains, to the extent allowable, and losses Note 1 - Summary of Significant Accounting Policies (continued) on the disposition of these properties are reflected in the real estate owned expense in the consolidated statement of income. The Company wrote down $540,000 in 2022 due to increased capitalization rate in evaluating the fair value of the properties. No write-downs were recorded in 2023.
Property Held for Investment:	Property Held for Investment: Land is stated at cost. Buildings and improvements are stated at cost less accumulated depreciation computed on the straight-line method over the useful lives between 30 to 50 years for buildings and 10 to 50 years for building improvements. Property held for investment is evaluated for impairment periodically whenever events or changes in circumstances indicate that their related carrying amounts may not be recoverable. In evaluating property held for investment for recoverability, we use our best estimate of future cash flows expected to result from the use of the asset and its eventual disposition. To the extent that estimated future undiscounted net cash flows attributable to the asset are less than the carrying amount, an impairment loss is recognized equal to the difference between the carrying value of such asset and its fair value. The Company did not have impairment recorded for property held for investment in 2023 and 2022.
Income Taxes:	Income Taxes: The Company files a consolidated federal income tax return. Income taxes are allocated to the Company, Bank, NECP, and NECB Financial based upon their respective income or loss included in the consolidated income tax return. The Company, the Bank, NECP, and NECB Financial file combined or separate state and city income tax returns depending on the particular requirements of each jurisdiction. Federal, state and city 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 consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax base. 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 its 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 de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company has not identified any significant income tax uncertainties through the evaluation of its income tax positions for the years ended December 31, 2023 and 2022, and has not recognized any liabilities for tax uncertainties as of December 31, 2023 and 2022. The Company’s policy is to recognize income tax related interest and penalties in income tax expense; there were no such amounts during the years ended December 31, 2023 and 2022. The tax years subject to examination by federal, state, and city taxing authorities are 2020 through 2023.
Other Comprehensive Income (Loss):	Other Comprehensive Income (Loss): The Company records in accumulated other comprehensive income (loss), net of related deferred income taxes, unrealized gains and losses on available for sale securities and the prior service cost and actuarial gains and losses related to the Outside Directors Retirement Plan (“DRP”) that have not yet been recognized in expense. Note 1 - Summary of Significant Accounting Policies (continued) Gains and losses on the sale of securities, if any, are reclassified to non-interest income upon the sale of the related securities or upon the recognition of a security impairment loss and a portion of the prior service cost and actuarial gains and losses of the DRP are reclassified to non-interest expense. At December 31, 2023, accumulated other comprehensive income totaled $317,000 and included $352,000 in prior service cost and actuarial gains of the DRP net of $35,000 of related deferred income benefits. At December 31, 2022, accumulated other comprehensive income totaled $156,000 and included $197,000 in prior service cost and actuarial losses of the DRP net of $41,000 of related deferred income taxes.
Earnings per Share:	Earnings per Share: Basic earnings per share is calculated by dividing the net income available to common stockholders by the weighted-average number of common shares outstanding during the period less any unvested restricted shares. Unallocated common shares held by the Employee Stock Ownership Plan (“ESOP”) are not included in the weighted-average number of common shares outstanding for purposes of calculating basic net income per common share until they are committed to be released. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and are determined using the treasury stock method. The following table sets forth the computations of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ (In Thousands, except per share data) Net income (basic and diluted) ​ $ 46,276 $ 24,843 ​ ​ ​ ​ ​ ​ ​ Weighted average shares issued ​ ​ 14,983 ​ ​ 16,309 Less: Weighted average unearned ESOP shares ​ ​ (736) ​ ​ (822) Less: Weighted average unvested restricted shares ​ (317) ​ (54) Basic weighted average shares outstanding ​ 13,930 ​ 15,433 Add: Dilutive effect of restricted stock ​ 6 ​ 293 Add: Dilutive effect of stock option ​ — ​ — Diluted weighted average shares outstanding ​ ​ 13,936 ​ ​ 15,726 ​ ​ ​ ​ ​ ​ ​ Net income per share ​ ​ ​ ​ ​ ​ Basic ​ $ 3.32 ​ $ 1.61 Diluted ​ $ 3.32 ​ $ 1.58 ​ There were 880,097 stock options outstanding at December 31, 2023 and 2022 respectively that were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive.
Stockholders' Equity:	Stockholders’ Equity: The authorized capital stock of the Company under its federal charter consists of 75,000,000 shares of common stock, par value of $0.01 per share, and 25,000,000 shares of preferred stock, par value of $0.01 per share. Each share of common stock has the same relative rights as, and is identical in all respects with, each other share of common stock. At December 31, 2023 and 2022, the Company has issued outstanding ​
Employee Stock Ownership Plan (ESOP):	Employee Stock Ownership Plan (ESOP): The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of shareholders’ equity. Compensation expense is based on the market price of shares as they are committed to be released to participant accounts. Dividends on allocated ESOP shares are recorded as a reduction of retained earnings. Dividends on unallocated ESOP shares are recorded as a reduction of the ESOP loan.
Restricted Stock:	Restricted Stock: The Company recognizes compensation expense for the fair value of the restricted stock on a straight-line basis over the requisite service period for the entire award. The product of the number of shares granted and the grant date market price of the Company’s common stock determines the fair value of restricted stock under the Company’s 2022 Equity Incentive Plan.
Stock Option Plan:	Stock Option Plan: The Company recognizes the value of share-based payment transactions as compensation costs in the financial statements over the period that an employee provides service in exchange for the award. The fair value of the share-based payments for stock options is estimated using the Black-Scholes option-pricing model on the grant date. The Company accounts for forfeitures as they occur.
Stock Repurchases:	Stock Repurchases: The Company records common stock repurchases at cost and retires the common shares with a charge to common stock and additional paid-in capital.
Segment Information:	Segment Information: The Company reports certain financial information about significant revenue-producing segments of the business for which such information is available and utilized by the chief operating decision makers. Substantially most of the Company’s operations occur through the bank and involve the delivery of loan and deposit products to customers. Small portion of the Company’s operations occurs through wealth management advisory service to customers. Management makes operating decisions and assesses performance based on an ongoing review of its banking and advisory service. The wealth management operation does not meet the quantitative threshold requirement to be disclosed separately.
Off-Balance-Sheet Financial Instruments:	Off-Balance-Sheet Financial Instruments: In the ordinary course of business, the Company enters into off-balance-sheet financial instruments consisting of commitments to extend credit. Such financial instruments are recorded in the consolidated statement of financial condition when funded.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Summary of impact of adopting ASC 326	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2023 ​ ​ Pre-Adoption ​ Adoption Impact ​ As Reported ​ ​ (In Thousands) Assets ​ ​ ​ ​ ​ ​ ACL on debt securities held-to-maturity ​ ​ ​ ​ ​ ​ Municipal Bonds $ - $ 132 $ 132 ACL on loan receivables ​ ​ ​ ​ ​ ​ Residential real estate ​ 528 ​ 895 ​ 1,423 Non-residential real estate ​ 131 ​ 7 ​ 138 Construction ​ 3,835 ​ (2,086) ​ 1,749 Commercial and industrial ​ 955 ​ (437) ​ 518 Consumer ​ 18 ​ 44 ​ 62 Unallocated ​ 7 ​ (7) ​ - ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ACL for off-balance sheet exposure ​ - ​ 1,586 ​ 1,586 ​ $ 5,474 $ 134 $ 5,608 ​
Schedule of useful life of property	​ ​ ​ ​ ​ Years Buildings 30 – 50 Building improvements 10 – 50 Leasehold improvements 1 – 15 Furnishings and equipment 3 – 5
Computations of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ (In Thousands, except per share data) Net income (basic and diluted) ​ $ 46,276 $ 24,843 ​ ​ ​ ​ ​ ​ ​ Weighted average shares issued ​ ​ 14,983 ​ ​ 16,309 Less: Weighted average unearned ESOP shares ​ ​ (736) ​ ​ (822) Less: Weighted average unvested restricted shares ​ (317) ​ (54) Basic weighted average shares outstanding ​ 13,930 ​ 15,433 Add: Dilutive effect of restricted stock ​ 6 ​ 293 Add: Dilutive effect of stock option ​ — ​ — Diluted weighted average shares outstanding ​ ​ 13,936 ​ ​ 15,726 ​ ​ ​ ​ ​ ​ ​ Net income per share ​ ​ ​ ​ ​ ​ Basic ​ $ 3.32 ​ $ 1.61 Diluted ​ $ 3.32 ​ $ 1.58

Mutual Holding Company Reorga_2

Mutual Holding Company Reorganization and Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2023
Mutual Holding Company Reorganization and Regulatory Matters
Schedule of bank's capital levels	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Regulatory Capital Requirements ​ ​ ​ ​ ​ ​ ​ Minimum Capital ​ For Classification as ​ ​ Actual ​ Adequacy (1) ​ Well-Capitalized ​ Amount Ratio Amount ​ Ratio Amount ​ Ratio ​ ​ (Dollars in Thousands) As of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 255,252 13.43 % $ ≥ 152,097 ≥ 8.00 % $ ≥ 190,121 ≥ 10.00 % Tier 1 capital (to risk-weighted assets) ​ 249,013 13.10 ​ ≥ 114,072 ≥ 6.00 ​ ≥ 152,097 ≥ 8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 249,013 13.10 ​ ≥ 85,554 ≥ 4.50 ​ ≥ 123,579 ≥ 6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 249,013 14.43 ​ ≥ 69,007 ≥ 4.00 ​ ≥ 86,259 ≥ 5.00 ​ As of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ Total capital (to risk-weighted assets) ​ $ 222,728 13.66 % $ ≥ 130,429 ≥ 8.00 % $ ≥ 163,036 ≥ 10.00 % Tier 1 capital (to risk-weighted assets) ​ 217,283 13.33 ​ ≥ 97,822 ≥ 6.00 ​ ≥ 130,429 ≥ 8.00 ​ Common equity tier 1 capital (to risk-weighted assets) ​ 217,283 13.33 ​ ≥ 73,366 ≥ 4.50 ​ ≥ 105,973 ≥ 6.50 ​ Core (Tier 1) capital (to adjusted total assets) ​ 217,283 16.50 ​ ≥ 52,687 ≥ 4.00 ​ ≥ 65,858 ≥ 5.00 ​ (1) Ratios do not include the capital conservation buffer.

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments with Off-Balance Sheet Risk
Schedule of financial instruments with off-balance sheet risk	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ (In Thousands) Financial instruments whose contract amounts represent credit risk: ​ ​ ​ Commitments to extend credit ​ $ 125,885 ​ $ 164,903 Construction loans in process ​ 481,277 ​ 637,427 Stand-by letters of credit ​ 9,508 ​ 12,451 Commitments to fund unused lines of credit: ​ ​ ​ ​ Commercial and industrial lines ​ 102,903 ​ 133,794 Consumer lines ​ 67 ​ 86 ​ ​ $ 719,640 ​ $ 948,661

Equity Securities (Tables)

Equity Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Securities
Schedule of equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) Equity Securities, at Fair Value ​ $ 18,102 ​ $ 18,041
Schedule of unrealized losses recognized in net income on equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) ​ ​ ​ ​ ​ ​ ​ Net unrealized gain (loss) recognized on equity securities during the period ​ $ 61 ​ $ (1,902) Capital gain realized on equity securities during the period ​ ​ 233 ​ ​ 329 Net losses realized on the sale of equity securities during the period ​ ​ — ​ ​ — Realized and unrealized net gain (loss) recognized on equity securities held at the reporting date ​ $ 294 ​ $ (1,573) ​

Securities Available-for-Sale (

Securities Available-for-Sale (Tables)	12 Months Ended
	Dec. 31, 2023
Securities Available-for-Sale
Schedule of portfolio of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ ​ Federal Home Loan Mortgage Corporation ​ $ 1 ​ $ — ​ $ — ​ $ 1 ​ ​ $ 1 ​ $ — ​ $ — ​ $ 1

Securities Held-to-Maturity (Ta

Securities Held-to-Maturity (Tables)	12 Months Ended
	Dec. 31, 2023
Securities Held-to-Maturity
Summary of securities held-to-maturity portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ Allowance ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ for ​ Cost Gains Losses ​ Value Credit Loss ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ 452 ​ $ — ​ $ 7 ​ $ 445 ​ $ — Federal Home Loan Mortgage Corporation ​ 868 ​ — ​ 114 ​ 754 ​ — Federal National Mortgage Association ​ ​ 1,985 ​ — ​ 198 ​ 1,787 ​ — Collateralized mortgage obligations – GSE ​ 2,889 ​ — ​ 580 ​ 2,309 ​ — Total mortgage-backed securities ​ 6,194 ​ — ​ 899 ​ 5,295 ​ — Municipal Bonds ​ 9,802 ​ ​ — ​ ​ 1,971 ​ ​ 7,831 ​ ​ 136 ​ ​ $ 15,996 ​ $ — ​ $ 2,870 ​ $ 13,126 ​ $ 136 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value ​ ​ (In Thousands) Mortgage-backed securities – residential: ​ ​ ​ ​ Government National Mortgage Association ​ $ 523 ​ $ — ​ $ 18 ​ $ 505 Federal Home Loan Mortgage Corporation ​ 961 ​ — ​ 129 ​ 832 Federal National Mortgage Association ​ 2,308 ​ — ​ 250 ​ 2,058 Collateralized mortgage obligations – GSE ​ 3,043 ​ — ​ 506 ​ 2,537 Total mortgage-backed securities ​ ​ 6,835 ​ ​ — ​ ​ 903 ​ ​ 5,932 Municipal Bonds ​ ​ 9,546 ​ ​ — ​ ​ 2,524 ​ ​ 7,022 U.S. Treasury securities ​ ​ 10,014 ​ ​ — ​ ​ 103 ​ ​ 9,911 ​ ​ $ 26,395 ​ $ — ​ $ 3,530 ​ $ 22,865 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of contractual final maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Amortized ​ Fair ​ Cost Value ​ (In Thousands) Due within one year ​ $ 712 ​ $ 639 Due after one but within five years ​ 2,024 ​ 1,733 Due after five but within ten years ​ 2,872 ​ 2,666 Due after ten years ​ 10,388 ​ 8,088 ​ ​ $ 15,996 ​ $ 13,126
Schedule of allowance for credit losses for debt securities held-to-maturity	​ ​ ​ ​ ​ ​ ​ Municipal ​ ​ Bonds Balance – December 31, 2022 ​ $ - Impact of adopting ASC 326 ​ ​ 132 Provision for credit loss ​ ​ 4 Balance - December 31, 2023 ​ $ 136
Schedule of unrealized losses and the fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) December 31, 2023: ​ ​ ​ ​ ​ ​ Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ — ​ $ — ​ $ 445 ​ $ 7 ​ $ 445 ​ $ 7 Federal Home Loan Mortgage Corporation ​ ​ — ​ ​ — ​ ​ 754 ​ ​ 114 ​ ​ 754 ​ ​ 114 Federal National Mortgage Association ​ ​ — ​ ​ — ​ ​ 1,787 ​ ​ 198 ​ ​ 1,787 ​ ​ 198 Collateralized mortgage obligations – GSE ​ ​ — ​ ​ — ​ ​ 2,309 ​ ​ 580 ​ ​ 2,309 ​ ​ 580 Total mortgage-backed securities ​ $ — ​ $ — ​ $ 5,295 ​ $ 899 ​ $ 5,295 ​ $ 899 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Losses Value Losses Value Losses ​ ​ (In Thousands) December 31, 2022: ​ ​ ​ ​ ​ ​ Mortgage-backed securities - residential: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government National Mortgage Association ​ $ 505 ​ $ 18 ​ $ — ​ $ — ​ $ 505 ​ $ 18 Federal Home Loan Mortgage Corporation ​ ​ — ​ ​ — ​ ​ 824 ​ ​ 129 ​ ​ 824 ​ ​ 129 Federal National Mortgage Association ​ ​ 478 ​ ​ 33 ​ ​ 1,580 ​ ​ 217 ​ ​ 2,058 ​ ​ 250 Collateralized mortgage obligations – GSE ​ ​ 1,777 ​ ​ 344 ​ ​ 759 ​ ​ 162 ​ ​ 2,536 ​ ​ 506 Total mortgage-backed securities ​ ​ 2,760 ​ ​ 395 ​ ​ 3,163 ​ ​ 508 ​ ​ 5,923 ​ ​ 903 Municipal Bonds ​ ​ 444 ​ ​ 39 ​ ​ 6,579 ​ ​ 2,485 ​ ​ 7,023 ​ ​ 2,524 U.S. Treasury securities ​ ​ 9,911 ​ ​ 103 ​ ​ — ​ ​ — ​ ​ 9,911 ​ ​ 103 ​ ​ $ 13,115 ​ $ 537 ​ $ 9,742 ​ $ 2,993 ​ $ 22,857 ​ $ 3,530 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Loans Receivable and the Allo_2

Loans Receivable and the Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2023
Loans Receivable and the Allowance for Credit Losses
Summary of composition of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) Residential real estate: ​ ​ ​ One-to-four family ​ $ 5,252 ​ $ 5,467 Multi-family ​ 198,927 ​ 123,385 Mixed-use ​ 29,643 ​ 21,902 Total residential real estate ​ 233,822 ​ 150,754 Non-residential real estate ​ 21,130 ​ 25,324 Construction ​ 1,219,413 ​ 930,628 Commercial and industrial ​ 111,116 ​ 110,069 Consumer ​ 1,240 ​ 546 Total Loans ​ 1,586,721 ​ 1,217,321 Deferred loan costs, net ​ 176 ​ 372 Allowance for credit losses ​ (5,093) ​ (5,474) ​ ​ $ 1,581,804 ​ $ 1,212,219
Schedule of analysis of the activity in the allowance for loan losses	At December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 2,433 ​ $ 126 ​ $ 1,914 ​ $ 472 ​ $ 148 ​ $ — ​ $ 5,093 Ending balance: individually evaluated for credit loss ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for credit loss ​ $ 2,433 ​ $ 126 ​ $ 1,914 ​ $ 472 ​ $ 148 ​ $ — ​ $ 5,093 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 233,822 ​ $ 21,130 ​ $ 1,219,413 ​ $ 111,116 ​ $ 1,240 ​ $ — ​ $ 1,586,721 Ending balance: individually evaluated for credit loss ​ $ — ​ $ — ​ $ 4,385 ​ $ — ​ $ — ​ $ — ​ $ 4,385 Ending balance: collectively evaluated for credit loss ​ $ 233,822 ​ $ 21,130 ​ $ 1,215,028 ​ $ 111,116 ​ $ 1,240 ​ $ — ​ $ 1,582,336 At December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction Industrial Consumer Unallocated Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 Ending balance: individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Ending balance: collectively evaluated for impairment ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 Loans receivable: ​ ​ ​ ​ ​ ​ ​ Ending balance ​ $ 150,754 ​ $ 25,324 ​ $ 930,628 ​ $ 110,069 ​ $ 546 ​ $ — ​ $ 1,217,321 Ending balance: individually evaluated for impairment ​ $ 855 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 855 Ending balance: collectively evaluated for impairment ​ $ 149,899 ​ $ 25,324 ​ $ 930,628 ​ $ 118,378 ​ $ 546 ​ $ — ​ $ 1,216,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2022 ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474 Impact of adopting ASC 326 ​ ​ 895 ​ ​ 7 ​ ​ (2,086) ​ ​ (437) ​ ​ 44 ​ ​ (7) ​ ​ (1,584) Charge-offs ​ — ​ — ​ (159) ​ — ​ (154) ​ — ​ (313) Recoveries ​ — ​ — ​ — ​ — ​ — ​ — ​ — Provision (Benefit) ​ 1,010 ​ (12) ​ 324 ​ (46) ​ 240 ​ — ​ 1,516 Balance - December 31, 2023 ​ $ 2,433 ​ $ 126 ​ $ 1,914 ​ $ 472 ​ $ 148 ​ $ — ​ $ 5,093 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non- ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ residential ​ ​ ​ ​ and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate ​ Real Estate ​ Construction ​ Industrial ​ Consumer ​ Unallocated ​ Total ​ ​ (In Thousands) Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2021 ​ $ 571 ​ $ 381 ​ $ 3,143 ​ $ 973 ​ $ 10 ​ $ 164 ​ $ 5,242 Charge-offs ​ (86) ​ — ​ (328) ​ — ​ (35) ​ — ​ (449) Recoveries ​ 189 ​ 53 ​ — ​ — ​ — ​ — ​ 242 Provision (Benefit) ​ (146) ​ (303) ​ 1,020 ​ (18) ​ 43 ​ (157) ​ 439 Balance - December 31, 2022 ​ $ 528 ​ $ 131 ​ $ 3,835 ​ $ 955 ​ $ 18 ​ $ 7 ​ $ 5,474
Summary of recorded investment, unpaid principal balance and allocated allowance for loan losses for loans that were considered impaired	As of and for the Year Ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2023 - Individually evaluated ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Non-residential real estate ​ — ​ — ​ — ​ — ​ ​ — Construction ​ 4,385 ​ 4,353 ​ — ​ 5,930 ​ ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 4,385 ​ 4,353 ​ — ​ 5,930 ​ — With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate ​ — ​ — ​ — ​ — ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ — Construction ​ 4,385 ​ 4,353 ​ — ​ 5,930 ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 4,385 ​ $ 4,353 ​ $ — ​ $ 5,930 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the Year Ended December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded Unpaid Principal Related Average Recorded Interest Income 2022 - Impaired ​ Investment ​ Balance ​ Allowance ​ Investment ​ Recognized ​ ​ (In Thousands) With no related allowance recorded: ​ ​ ​ ​ ​ Residential real estate ​ $ 855 ​ $ 769 ​ $ — ​ $ 863 ​ $ 43 Non-residential real estate ​ — ​ — ​ — ​ 385 ​ ​ 14 Construction ​ — ​ — ​ — ​ — ​ ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ 855 ​ 769 ​ — ​ 1,248 ​ 57 With an allowance recorded ​ — ​ — ​ — ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total: ​ ​ ​ ​ ​ Residential real estate ​ 855 ​ 769 ​ — ​ 863 ​ 43 Non-residential real estate ​ — ​ — ​ — ​ 385 ​ 14 Construction ​ — ​ — ​ — ​ — ​ — Commercial and industrial ​ — ​ — ​ — ​ — ​ — ​ ​ $ 855 ​ $ 769 ​ $ — ​ $ 1,248 ​ $ 57
Schedule of age analysis of past due loans	Age Analysis of Past Due Loans as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment > ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,252 ​ $ 5,252 ​ $ — Multi-family ​ — ​ — ​ — ​ — ​ 198,927 ​ 198,927 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 29,643 ​ 29,643 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 21,130 ​ 21,130 ​ — Construction loans ​ 2,319 ​ — ​ 4,385 ​ 6,704 ​ 1,212,709 ​ 1,219,413 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 111,116 ​ 111,116 ​ — Consumer ​ 1 ​ — ​ — ​ 1 ​ 1,239 ​ 1,240 ​ — ​ ​ $ 2,320 ​ $ — ​ $ 4,385 ​ $ 6,705 ​ $ 1,580,016 ​ $ 1,586,721 ​ $ — ​ Age Analysis of Past Due Loans as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ 30 – 59 Days ​ 60 – 89 Days ​ Greater Than ​ Total Past ​ ​ ​ ​ Total Loans ​ > 90 Days and ​ Past Due Past Due 90 Days Due Current Receivable Accruing ​ ​ (In Thousands) Residential real estate: ​ ​ ​ ​ ​ ​ ​ One- to four-family ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,467 ​ $ 5,467 ​ $ — Multi-family ​ — ​ 946 ​ — ​ 946 ​ 122,439 ​ 123,385 ​ — Mixed-use ​ — ​ — ​ — ​ — ​ 21,902 ​ 21,902 ​ — Non-residential real estate ​ — ​ — ​ — ​ — ​ 25,324 ​ 25,324 ​ — Construction loans ​ — ​ — ​ — ​ — ​ 930,628 ​ 930,628 ​ — Commercial and industrial loans ​ — ​ — ​ — ​ — ​ 110,069 ​ 110,069 ​ — Consumer ​ — ​ — ​ — ​ — ​ 546 ​ 546 ​ — ​ ​ $ — ​ $ 946 ​ $ — ​ $ 946 ​ $ 1,216,375 ​ $ 1,217,321 ​ $ —
Summary of risk category of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ Revolving ​ ​ ​ ​ Term Loans Amortized Costs Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Converted ​ ​ December 31, 2023 ​ ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Cost Basis ​ to Term ​ Total Residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 81,379 $ 71,932 $ 24,504 $ 10,696 $ 1,326 $ 43,070 $ - $ - $ 232,907 Special Mention ​ ​ - ​ - ​ - ​ 915 ​ - ​ - ​ - ​ - ​ 915 Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 81,379 $ 71,932 $ 24,504 $ 11,611 $ 1,326 $ 43,070 $ - $ - $ 233,822 Residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ - $ - $ - $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,602 $ 251 $ 1,841 $ 995 $ 379 $ 16,062 $ - $ - $ 21,130 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 1,602 $ 251 $ 1,841 $ 995 $ 379 $ 16,062 $ - $ - $ 21,130 Non-residential real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ - $ - $ - $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 376,763 $ 501,012 $ 216,901 $ 55,865 $ 25,150 $ 39,337 $ - $ - $ 1,215,028 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ 4,385 ​ - ​ - ​ - ​ - ​ 4,385 Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 376,763 $ 501,012 $ 216,901 $ 60,250 $ 25,150 $ 39,337 $ - $ - $ 1,219,413 Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ 159 $ - $ - $ 159 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 5,057 $ 8,329 $ 436 $ 435 $ 308 $ 2,195 $ 91,301 $ 3,055 $ 111,116 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 5,057 $ 8,329 $ 436 $ 435 $ 308 $ 2,195 $ 91,301 $ 3,055 $ 111,116 Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ - $ - $ - $ - $ - $ - $ - $ - $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 1,229 $ - $ - $ - $ - $ ​ $ 11 $ - $ 1,240 Special Mention ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Substandard ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 1,229 $ - $ - $ - $ - $ - $ 11 $ - $ 1,240 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 154 $ - $ - $ - $ - $ - $ - $ - $ 154 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk Rating ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 466,030 $ 581,524 $ 243,682 $ 67,991 $ 27,163 $ 100,664 $ 91,312 $ 3,055 $ 1,581,421 Special Mention ​ ​ - ​ - ​ - ​ 915 ​ - ​ - ​ - ​ - ​ 915 Substandard ​ ​ - ​ - ​ - ​ 4,385 ​ - ​ - ​ - ​ - ​ 4,385 Doubtful ​ ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - ​ - Total ​ $ 466,030 $ 581,524 $ 243,682 $ 73,291 $ 27,163 $ 100,664 $ 91,312 $ 3,055 $ 1,586,721 Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period gross charge-offs ​ $ 154 $ - $ - $ - $ - $ 159 $ - $ - $ 313 Credit Risk Profile by Internally Assigned Grade as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential ​ Non-residential ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ Real Estate Real Estate Construction and Industrial Consumer Total ​ ​ (In Thousands) Grade: ​ ​ ​ ​ ​ ​ Pass ​ $ 148,953 ​ $ 25,324 ​ $ 930,628 ​ $ 110,069 ​ $ 546 ​ $ 1,215,520 Special Mention ​ 946 ​ — ​ — ​ — ​ — ​ 946 Substandard ​ 855 ​ — ​ — ​ — ​ — ​ 855 Doubtful ​ — ​ — ​ — ​ — ​ — ​ — ​ ​ $ 150,754 ​ $ 25,324 ​ $ 930,628 ​ $ 110,069 ​ $ 546 ​ $ 1,217,321
Schedule of allowance for credit losses on off balance sheet commitments.	​ ​ ​ ​ ​ ​ ​ Allowance for ​ ​ Credit Loss Balance – December 31, 2022 ​ $ - Impact of adopting ASC 326 ​ ​ 1,586 Provision for credit loss ​ ​ (548) Balance – December 31, 2023 ​ $ 1,038 ​

Premises and Equipment, Net (Ta

Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Premises and Equipment, Net
Summary of premises and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Land ​ $ 6,652 ​ $ 6,652 Buildings and improvements ​ 22,912 ​ 22,647 Leasehold improvements ​ 1,805 ​ 1,741 Furnishings and equipment ​ 8,051 ​ 7,880 ​ ​ 39,420 ​ 38,920 Accumulated depreciation and amortization ​ (13,968) ​ (12,857) ​ ​ $ 25,452 ​ $ 26,063 ​ ​ ​ ​ ​ ​ ​

Accrued Interest Receivable, _2

Accrued Interest Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Interest Receivable, Net
Summary of accrued interest receivable, net	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Loans receivable ​ $ 12,273 ​ $ 8,532 Securities ​ 38 ​ 65 ​ ​ $ 12,311 ​ $ 8,597 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets
Summary of goodwill and intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Goodwill ​ $ — ​ $ 1,310 Accumulative goodwill impairment ​ — ​ (1,110) Goodwill, net of charge-off ​ $ — ​ $ 200 ​ ​ ​ ​ ​ ​ ​

Property Held For Investment (T

Property Held For Investment (Tables)	12 Months Ended
	Dec. 31, 2023
Property Held For Investment
Schedule of property held for investment	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ 2023 2022 ​ ​ (In Thousands) Land ​ $ 500 ​ $ 500 Buildings and improvements ​ 1,442 ​ 1,442 ​ ​ 1,942 ​ 1,942 Accumulated depreciation and amortization ​ (535) ​ (498) ​ ​ $ 1,407 ​ $ 1,444

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits
Schedule of total deposits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ ​ Weighted Average ​ ​ ​ Weighted Average ​ Amount Interest Rate Amount Interest Rate ​ ​ (Dollars in Thousands) Demand deposits: ​ ​ ​ ​ Non-interest bearing ​ $ 300,184 — % $ 376,302 — % NOW and money market ​ 144,807 3.07 % 88,122 0.95 % Total ​ 444,991 1.00 % 464,424 0.18 % Savings accounts ​ 192,594 2.71 % 273,839 2.68 % Certificates of deposit maturing in: ​ ​ ​ One year or less ​ 596,091 4.83 % 258,873 3.11 % After one to two years ​ 81,118 3.24 % 76,180 2.78 % After two to three years ​ 1,462 0.72 % 34,204 0.61 % After three to four years ​ 12,371 1.31 % 1,318 0.75 % After four years ​ 71,409 5.03 % 13,117 1.28 % Total ​ 762,451 4.62 % 383,692 2.75 % ​ ​ $ 1,400,036 3.20 % $ 1,121,955 1.67 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of interest expense on deposits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (In Thousands) Demand deposits ​ $ 2,459 ​ $ 918 Savings accounts ​ 6,777 ​ 2,688 Certificates of deposit ​ 24,945 ​ 3,938 ​ ​ $ 34,181 ​ $ 7,544 ​ ​ ​ ​ ​ ​ ​ ​

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Borrowings
Schedule of FHLB advances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ Weighted Average ​ Weighted Average ​ Amount Interest Rate Amount Interest Rate ​ ​ (Dollars in Thousands) Advances maturing in: ​ ​ ​ ​ One year or less ​ $ 7,000 ​ 2.86 % $ 7,000 ​ 2.83 % After one to three years ​ ​ — — % ​ 7,000 2.86 % After three to four years ​ — — % — — % After five years (due 2030) ​ 7,000 1.61 % 7,000 1.61 % ​ ​ $ 14,000 2.24 % $ 21,000 2.43 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes
Schedule of components of provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (In Thousands) Current tax expense ​ $ 18,832 ​ $ 10,894 Deferred tax expense ​ (367) ​ (1,308) ​ ​ $ 18,465 ​ $ 9,586
Schedule of reconciliation of income tax rates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (Dollars In Thousands) Federal income tax at statutory rates ​ $ 13,596 ​ $ 7,230 ​ State and city tax, net of federal income tax effect ​ 4,851 ​ 2,321 ​ Non-taxable income on bank owned life insurance ​ (213) ​ (127) ​ Other ​ 231 ​ 162 ​ ​ ​ $ 18,465 ​ $ 9,586 ​ Effective Income Tax Rate ​ 28.5 % 27.8 %
Schedule of net deferred tax asset	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2023 2022 ​ ​ (In Thousands) Deferred tax assets: ​ ​ Allowance for credit losses ​ $ 1,313 ​ $ 1,411 State net operating loss carryforwards ​ 24 ​ 150 Benefit plans ​ 2,335 ​ 2,063 Accumulated other comprehensive loss – DRP ​ 35 ​ — Other ​ 653 ​ 273 Total Deferred Tax Assets ​ 4,360 ​ 3,897 Deferred tax liability: ​ ​ Depreciation ​ 497 ​ 418 Goodwill ​ — ​ 52 Accumulated other comprehensive gain – DRP ​ — ​ ​ 42 Total Deferred Tax Liabilities ​ 497 ​ 512 Net Deferred Tax Assets Included in Other Assets ​ $ 3,863 ​ $ 3,385

Other Non-Interest Expenses (Ta

Other Non-Interest Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Other Non-Interest Expenses
Schedule of other non-interest expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (In Thousands) Other ​ $ 4,043 ​ $ 2,827 Service contracts ​ 1,424 ​ 1,092 Consulting expense ​ 780 ​ 950 Telephone ​ 673 ​ 611 Directors compensation ​ 892 ​ 676 Audit and accounting ​ 497 ​ 566 Insurance ​ 395 ​ 372 Director, officer, and employee expense ​ 252 ​ 258 Legal fees ​ 617 ​ 765 Office supplies and stationary ​ 167 ​ 137 Recruiting expense ​ 30 ​ 93 ​ ​ $ 9,770 ​ $ 8,347 ​

Benefits Plans (Tables)

Benefits Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Benefits Plans
Schedule of funded status of the DRP	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (Dollars In Thousands) Projected benefit obligation – beginning ​ $ 1,808 ​ $ 2,087 ​ Service cost ​ 94 ​ 97 ​ Interest cost ​ 85 ​ 81 ​ Actuarial gain ​ (116) ​ (353) ​ Benefits Paid ​ (104) ​ (104) ​ Projected benefit obligation – ending ​ $ 1,767 ​ $ 1,808 ​ Funded status – accrued liability included in accounts payable and accrued expenses ​ $ 1,767 ​ $ 1,808 ​ Accumulated benefit obligation ​ $ 1,675 ​ $ 1,712 ​ Discount rate ​ 5.21 % 4.83 % Rate of increase in future compensation levels ​ 2.00 % 2.00 %
Schedule of components of net pension periodic expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2023 2022 ​ ​ (Dollars In Thousands) Net periodic pension expense: ​ ​ ​ ​ Service cost ​ $ 94 ​ $ 97 ​ Interest cost ​ 85 ​ 81 ​ Actuarial (gain) loss amortized ​ (32) ​ 27 ​ Total net periodic pension expense included in other non-interest expenses ​ $ 147 ​ $ 205 ​ Discount rate ​ 5.21 % 4.83 % Rate of increase in future compensation levels ​ 2.00 % 2.00 %
Schedule of benefit payments, which reflect expected future service	Benefit payments, which reflect expected future service as appropriate, are expected to be paid for the years ending December 31 as follows (in thousands): ​ ​ ​ ​ 2024 $ 104 2025 ​ 190 2026 ​ 204 2027 ​ 230 2028 ​ 230 2029 to 2033 ​ 957
Summary of ESOP shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ 2023 ​ 2022 Allocated shares ​ ​ 694,842 ​ 607,922 Shares committed to be released ​ ​ 86,920 ​ 86,920 Unearned shares ​ ​ 695,647 ​ 782,567 Total ESOP Shares ​ ​ 1,477,409 ​ 1,477,409 Less allocated shares distributed to former or retired employees ​ ​ (143,612) ​ (122,280) Total ESOP Shares Held by Trustee ​ ​ 1,333,797 ​ 1,355,129 Fair value of unearned shares ​ $ 12,340,778 ​ $ 11,675,897 ​

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Stock Based Compensation
Schedule of restricted stock activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Shares ​ Market Price Outstanding, Beginning of year ​ ​ 352,037 $ 13.67 Granted ​ ​ 4,878 ​ 16.88 Forfeited ​ ​ — ​ — Vested ​ ​ 70,407 ​ — Outstanding, end of year ​ ​ 286,508 ​ $ 13.72 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Shares ​ Market Price Outstanding, Beginning of year ​ ​ — $ — Granted ​ ​ 352,037 ​ 13.67 Forfeited ​ ​ — ​ — Vested ​ ​ — ​ — Outstanding, end of year ​ ​ 352,037 ​ $ 13.67
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Options ​ Exercise Price Outstanding, Beginning of year ​ ​ 880,097 $ 13.67 Granted ​ ​ — ​ — Forfeited ​ ​ — ​ — Exercised ​ ​ — ​ — Outstanding, end of year ​ ​ 880,097 ​ $ 13.67 Exercisable at end of year ​ ​ 176,019 ​ ​ 13.67 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Average ​ ​ Options ​ Exercise Price Outstanding, Beginning of year ​ ​ — $ — Granted ​ ​ 880,097 ​ 13.67 Forfeited ​ ​ — ​ — Exercised ​ ​ — ​ — Outstanding, end of year ​ ​ 880,097 ​ $ 13.67 Exercisable at end of year ​ ​ — ​ ​ — Weighted average fair value ​ ​ ​ ​ ​ ​ of options granted in current year ​ ​ ​ ​ $ 4.36
Schedule of weighted average assumptions	​ ​ ​ ​ ​ ​ Pricing Model Assumption Ranges ​ 2022 Risk-free interest rate ​ 3.87 - 3.97 % Expected volatility ​ 28.79 - 28.94 % Expected dividend yield ​ 1.70 - 1.94 % Expected life ​ 7.50 ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases
Schedule of Company's leases	The quantitative data relates to the Company’s leases are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Finance Lease Amounts: ​ ​ ​ ROU asset ​ $ 351 ​ $ 355 ​ Lease liability ​ $ 571 ​ $ 533 ​ Operating Lease Amounts: ​ ​ ​ ​ ​ ROU assets ​ $ 4,566 ​ $ 2,312 ​ Lease liabilities ​ $ 4,625 ​ $ 2,363 ​ Finance Lease Cost ​ ​ ​ Amortization of ROU asset ​ $ 4 ​ $ 4 ​ Interest on lease liability ​ $ 38 ​ $ 37 ​ Operating Lease Costs ​ $ 566 ​ $ 567 ​ Cash paid for amounts included in the measurement of lease liabilities ​ ​ ​ Finance lease ​ $ — ​ $ — ​ Operating leases ​ $ 511 ​ $ 558 ​ Weighted-average remaining lease term ​ ​ ​ Finance lease ​ 93 years ​ 94 years ​ Operating leases ​ 8.58 years ​ 6.19 years ​ Weighted-average discount rate ​ ​ ​ Finance lease ​ 9.50 % 9.50 % Operating leases ​ 5.18 % 1.50 %
Maturities of operating lease liabilities	Maturities of lease liabilities at December 31, 2023 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2024 ​ $ 740 ​ $ 30 2025 ​ 738 ​ 30 2026 ​ 622 ​ 31 2027 ​ 637 ​ 36 2028 ​ 595 ​ 36 Thereafter ​ 2,475 ​ 4,016 Total lease payments ​ $ 5,807 ​ $ 4,179 Interest ​ (1,182) ​ (3,608) Lease liability ​ $ 4,625 ​ $ 571 ​
Maturities of financing lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Finance ​ ​ Leases ​ Lease Years ended December 31: ​ ​ ​ ​ ​ ​ 2024 ​ $ 740 ​ $ 30 2025 ​ 738 ​ 30 2026 ​ 622 ​ 31 2027 ​ 637 ​ 36 2028 ​ 595 ​ 36 Thereafter ​ 2,475 ​ 4,016 Total lease payments ​ $ 5,807 ​ $ 4,179 Interest ​ (1,182) ​ (3,608) Lease liability ​ $ 4,625 ​ $ 571 ​

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures
Assets carried at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Recurring Basis ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, Description 2023 2022 2023 2022 2023 2022 2023 2022 Assets: ​ ​ ​ ​ ​ ​ ​ ​ Marketable equity securities: ​ ​ ​ ​ ​ ​ ​ ​ Mutual funds ​ $ 18,102 ​ $ 18,041 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 18,102 ​ $ 18,041 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ FHLMC ​ — ​ — ​ — ​ 1 ​ — ​ — ​ — ​ 1 Total assets ​ $ 18,102 ​ $ 18,041 ​ $ — ​ $ 1 ​ $ — ​ $ — ​ $ 18,102 ​ $ 18,042
Assets carried at fair value on a non-recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ Significant Other ​ Significant ​ Total Carried ​ ​ Active Markets for ​ Observable ​ Unobservable ​ at Fair ​ ​ Identical Assets ​ Inputs ​ Inputs ​ Value on a ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Non-Recurring Basis ​ ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, ​ December 31, Description 2023 2022 2023 2022 2023 2022 2023 2022 ​ (In Thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ Collateral dependent loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 4,385 ​ $ 855 ​ $ 4,385 ​ $ 855 Real estate owned ​ — ​ — ​ — ​ — ​ 1,456 ​ 1,456 ​ 1,456 ​ 1,456 Total assets ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 5,841 ​ $ 2,311 ​ $ 5,841 ​ $ 2,311
Schedule of qualitative information about non-recurring Level 3 fair value measurements of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2023 ​ Fair Valuation Unobservable ​ Weighted ​ ​ Value ​ Technique ​ Input ​ Range ​ Average ​ ​ (In Thousands) Assets: ​ ​ ​ Collateral dependent loans ​ $ 4,385 Income approach Capitalization rate 6.00 % 6.00 % Real estate owned ​ 1,456 Income approach Capitalization rate 12.00 % 12.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2022 ​ Fair Valuation Unobservable ​ Weighted ​ ​ Value ​ Technique ​ Input ​ Range ​ Average ​ ​ (In Thousands) Assets: ​ ​ ​ Impaired loans ​ $ 855 Income approach Capitalization rate 5.60 % 5.60 % Real estate owned ​ 1,456 Income approach Capitalization rate 12.00 % 12.00 %
Schedule of carrying amounts and estimated fair value of our financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at December 31, 2023 ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 68,671 ​ $ 68,671 ​ $ 68,671 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 18,102 ​ ​ 18,102 ​ ​ 18,102 ​ ​ — ​ ​ — Securities held to maturity ​ ​ 15,860 ​ ​ 13,126 ​ ​ — ​ ​ 13,126 ​ ​ — Loans receivable ​ ​ 1,581,804 ​ ​ 1,552,219 ​ ​ — ​ ​ — ​ ​ 1,552,219 Investments in restricted stock ​ ​ 929 ​ ​ 929 ​ ​ — ​ ​ 929 ​ ​ — Accrued interest receivable ​ ​ 12,311 ​ ​ 12,311 ​ ​ — ​ ​ 12,311 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 1,400,036 ​ ​ 1,401,083 ​ ​ — ​ ​ 1,401,083 ​ ​ — Borrowings ​ ​ 64,000 ​ ​ 63,053 ​ ​ — ​ ​ 63,053 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value at December 31, 2022 ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets for ​ Other ​ Significant ​ ​ ​ ​ ​ ​ ​ Identical ​ Observable ​ Unobservable ​ ​ Carrying ​ ​ ​ ​ Assets ​ Inputs ​ Inputs (In thousands) Amount Fair Value (Level 1) (Level 2) (Level 3) Financial Assets ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 95,308 ​ $ 95,308 ​ $ 95,308 ​ $ — ​ $ — Certificates of deposit ​ ​ 100 ​ ​ 100 ​ ​ — ​ ​ 100 ​ ​ — Marketable equity securities ​ ​ 18,041 ​ ​ 18,041 ​ ​ 18,041 ​ ​ — ​ ​ — Securities available for sale ​ ​ 1 ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ — Securities held to maturity ​ ​ 26,395 ​ ​ 22,865 ​ ​ — ​ ​ 22,865 ​ ​ — Loans receivable ​ ​ 1,212,219 ​ ​ 1,191,483 ​ ​ — ​ ​ — ​ ​ 1,191,483 Investments in restricted stock ​ ​ 1,238 ​ ​ 1,238 ​ ​ — ​ ​ 1,238 ​ ​ — Accrued interest receivable ​ ​ 8,597 ​ ​ 8,597 ​ ​ — ​ ​ 8,597 ​ ​ — Financial Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 1,121,955 ​ ​ 1,121,107 ​ ​ — ​ ​ 1,121,107 ​ ​ — FHLB of New York advances ​ ​ 21,000 ​ ​ 19,437 ​ ​ — ​ ​ 19,437 ​ ​ — ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue Recognition
Revenue Recognition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 ​ ​ (In Thousands) Non-interest income: ​ ​ ​ Deposit-related fees and charges ​ $ 55 ​ $ 67 Loan-related fees and charges (1) ​ 892 ​ 1,064 Electronic banking fees and charges ​ 944 ​ 863 (Loss) gain on disposition of equipment (1) ​ (18) ​ 98 Income from bank owned life insurance (1) ​ 1,013 ​ 604 Investment advisory fees ​ 458 ​ 474 Realized and unrealized gain (loss) on equity securities (1) ​ 294 ​ (1,573) Miscellaneous (1) ​ 105 ​ 86 Total non-interest income ​ $ 3,743 ​ $ 1,683 (1) Not within the scope of ASC 606.

Parent Company Only Financial_2

Parent Company Only Financial Information (Tables)	12 Months Ended
	Dec. 31, 2023
Parent Company Only Financial Information
Condensed Statements of Financial Condition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2023 2022 ​ ​ (In Thousand) Assets ​ ​ ​ Cash and due from banks ​ $ 4,268 ​ $ 20,334 Investment in subsidiary ​ 254,654 ​ 220,706 Loans receivable, net of allowance for credit losses of  $45 and $92, respectively (1) ​ 14,121 ​ 13,688 ESOP loan receivable ​ 7,336 ​ 8,177 Total Assets ​ $ 280,379 ​ $ 262,905 Liabilities and Stockholders’ Equity ​ ​ Accounts payable and accrued expenses ​ $ 1,054 ​ $ 916 Total Liabilities ​ 1,054 ​ 916 Total Stockholders’ Equity ​ 279,325 ​ 261,989 Total Liabilities and Stockholders’ Equity ​ $ 280,379 ​ $ 262,905 (1) Represents participation loans purchased from the Bank
Condensed Statements of Operations and Comprehensive Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ 2023 2022 ​ ​ (In Thousand) Interest income – loans ​ $ 1,371 ​ $ 240 Interest income – ESOP loan ​ 333 ​ 377 Interest income – interest-earning deposits ​ 179 ​ 343 Dividend income from subsidiary ​ ​ 14,000 ​ ​ — Operating expenses ​ (2,298) ​ (956) Income before Income Tax Expense and Equity in Undistributed Earnings of Subsidiary ​ 13,585 ​ 4 Income tax (benefit) expense ​ (120) ​ 1 Income before Equity in Undistributed Earnings of Subsidiary ​ 13,705 ​ 3 Equity in undistributed earnings of subsidiary ​ 32,571 ​ 24,840 Net Income ​ $ 46,276 ​ $ 24,843 Comprehensive Income ​ $ 46,336 ​ $ 25,138
Statements of Cash Flow	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ 2023 2022 ​ ​ (In Thousand) Cash Flows from Operating Activities ​ ​ ​ Net income ​ $ 46,276 ​ $ 24,843 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ Equity in undistributed earnings of subsidiary ​ (32,571) ​ (24,840) Other, net ​ 2,183 ​ 544 Net Cash Provided by Operating Activities ​ 15,888 ​ 547 Cash Flows from Investing Activities ​ ​ Repayment of ESOP loan ​ 841 ​ 796 Net increase in loans ​ ​ (433) ​ ​ (9,211) Net Cash Provided (Used in) by Investing Activities ​ 408 ​ (8,415) Cash Flows from Financing Activities ​ ​ Cash dividends paid ​ (3,652) ​ (6,868) Stock repurchase ​ ​ (28,710) ​ ​ (9,318) Net Cash Used in Financing Activities ​ (32,362) ​ (16,186) Net Decrease in Cash and Cash Equivalents ​ (16,066) ​ (24,054) Cash and Cash Equivalents – Beginning ​ 20,334 ​ 44,388 Cash and Cash Equivalents – Ending ​ $ 4,268 ​ $ 20,334 ​

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) Office property $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Summary of Significant Accounting Policies
Number of branch offices | Office	11
Number of loan production offices | Office	3
Goodwill	$ 0	$ 200,000
Impairment of goodwill		451,000
Loss on disposition of business	(138,000)
Real estate owned properties, wrote down during the year	0	540,000
Income tax related interest and penalties	0	0
Accumulated other comprehensive income	317,000	156,000
Accumulated other comprehensive loss of prior service cost	352,000	197,000
Accumulated other comprehensive loss of actuarial losses of Directors Retirement Plan	$ 35,000	$ 41,000
Common stock, shares authorized (in shares) | shares	75,000,000	75,000,000
Common stock, par value (in $ per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares issued (in shares) | shares	14,144,856	16,049,454
Common stock, shares outstanding (in shares) | shares	14,144,856	16,049,454
Buildings | Minimum
Summary of Significant Accounting Policies
Useful life of property	30 years
Property held for investment useful life	30 years
Buildings | Maximum
Summary of Significant Accounting Policies
Useful life of property	50 years
Property held for investment useful life	50 years
Building improvements | Minimum
Summary of Significant Accounting Policies
Useful life of property	10 years
Property held for investment useful life	10 years
Building improvements | Maximum
Summary of Significant Accounting Policies
Useful life of property	50 years
Property held for investment useful life	50 years
Leasehold improvements | Minimum
Summary of Significant Accounting Policies
Useful life of property	1 year
Leasehold improvements | Maximum
Summary of Significant Accounting Policies
Useful life of property	15 years
Furnishings and equipment | Minimum
Summary of Significant Accounting Policies
Useful life of property	3 years
Furnishings and equipment | Maximum
Summary of Significant Accounting Policies
Useful life of property	5 years
Bronx
Summary of Significant Accounting Policies
Construction loans	$ 626,000,000	$ 440,600,000
Town of Monroe
Summary of Significant Accounting Policies
Construction loans	198,500,000	122,400,000
Hamlet of Monsey
Summary of Significant Accounting Policies
Construction loans	133,700,000	103,800,000
Village of Spring Valley
Summary of Significant Accounting Policies
Construction loans	105,900,000	104,300,000
Brooklyn
Summary of Significant Accounting Policies
Construction loans	$ 18,800,000	31,800,000
New England Commercial Properties LLC
Summary of Significant Accounting Policies
Number of foreclosed properties | property	1
Federal Reserve Bank of New York
Summary of Significant Accounting Policies
Deposits in excess of FDIC insurance limit	$ 43,200,000	59,000,000
Federal Home Loan Bank of New York
Summary of Significant Accounting Policies
Deposits in excess of FDIC insurance limit	13,700,000	26,400,000
Restricted stock held	859,000	1,200,000
Atlantic Community Bankers Bank
Summary of Significant Accounting Policies
Deposits in excess of FDIC insurance limit	430,000	1,000,000
Restricted stock held	$ 70,000	$ 70,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Computations of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss)	$ 46,276	$ 24,843
Weighted average shares issued	14,983,000	16,309,000
Less: Weighted average unearned ESOP shares	(736,000)	(822,000)
Less: Weighted average unvested restricted shares	(317,000)	(54,000)
Basic weighted average shares outstanding	13,930,000	15,433,000
Add: Dilutive effect of restricted stock	6,000	293,000
Diluted weighted average shares outstanding	13,936,000	15,726,000
Net income per share
Basic	$ 3.32	$ 1.61
Diluted	$ 3.32	$ 1.58
Stock option
Net income per share
Antidilutive securities excluded from computation of diluted earnings per share	880,097

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Adopting ASC 326 (Details) - USD ($)	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies
Retained earnings	$ 175,505,000	$ 134,000	$ 132,670,000
Retained earnings, net of tax		99,000
Securities held-to-maturity, allowance for credit losses	136,000	1,600,000	136,000
ACL on loan receivables		132,000	5,474,000	$ 5,242,000
ACL for off-balance sheet exposure	1,038,000	1,600,000
Residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables			528,000	571,000
Non-residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables			131,000	381,000
Construction
Summary of Significant Accounting Policies
ACL on loan receivables			3,835,000	3,143,000
Commercial and industrial
Summary of Significant Accounting Policies
ACL on loan receivables			955,000	973,000
Consumer
Summary of Significant Accounting Policies
ACL on loan receivables			18,000	10,000
Unallocated
Summary of Significant Accounting Policies
ACL on loan receivables			7,000	$ 164,000
Topic 326
Summary of Significant Accounting Policies
ACL on debt securities held-to-maturity, ACL on loan receivables and ACL for off-balance sheet exposure			5,474,000
Topic 326 | Residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables			528,000
Topic 326 | Non-residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables			131,000
Topic 326 | Construction
Summary of Significant Accounting Policies
ACL on loan receivables			3,835,000
Topic 326 | Commercial and industrial
Summary of Significant Accounting Policies
ACL on loan receivables			955,000
Topic 326 | Consumer
Summary of Significant Accounting Policies
ACL on loan receivables			18,000
Topic 326 | Unallocated
Summary of Significant Accounting Policies
ACL on loan receivables			$ 7,000
Topic 326 | Adoption Impact
Summary of Significant Accounting Policies
ACL for off-balance sheet exposure	$ 1,586,000	1,586,000
ACL on debt securities held-to-maturity, ACL on loan receivables and ACL for off-balance sheet exposure		134,000
Topic 326 | Adoption Impact | Residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables		895,000
Topic 326 | Adoption Impact | Non-residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables		7,000
Topic 326 | Adoption Impact | Construction
Summary of Significant Accounting Policies
ACL on loan receivables		(2,086,000)
Topic 326 | Adoption Impact | Commercial and industrial
Summary of Significant Accounting Policies
ACL on loan receivables		(437,000)
Topic 326 | Adoption Impact | Consumer
Summary of Significant Accounting Policies
ACL on loan receivables		44,000
Topic 326 | Adoption Impact | Unallocated
Summary of Significant Accounting Policies
ACL on loan receivables		(7,000)
Topic 326 | Adoption Impact | Municipal Bonds
Summary of Significant Accounting Policies
ACL on debt securities held-to-maturity, ACL on loan receivables and ACL for off-balance sheet exposure		132,000
Topic 326 | As Reported
Summary of Significant Accounting Policies
ACL for off-balance sheet exposure		1,586,000
ACL on debt securities held-to-maturity, ACL on loan receivables and ACL for off-balance sheet exposure		5,608,000
Topic 326 | As Reported | Residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables		1,423,000
Topic 326 | As Reported | Non-residential real estate
Summary of Significant Accounting Policies
ACL on loan receivables		138,000
Topic 326 | As Reported | Construction
Summary of Significant Accounting Policies
ACL on loan receivables		1,749,000
Topic 326 | As Reported | Commercial and industrial
Summary of Significant Accounting Policies
ACL on loan receivables		518,000
Topic 326 | As Reported | Consumer
Summary of Significant Accounting Policies
ACL on loan receivables		62,000
Topic 326 | As Reported | Municipal Bonds
Summary of Significant Accounting Policies
ACL on debt securities held-to-maturity, ACL on loan receivables and ACL for off-balance sheet exposure		$ 132,000

Mutual Holding Company Reorga_3

Mutual Holding Company Reorganization and Regulatory Matters - Narrative (Details) - shares	Jul. 05, 2006	Dec. 31, 2023	Dec. 31, 2022
Mutual Holding Company Reorganization and Regulatory Matters
Stock issued	5,951,250
Percentage of capital conservation buffer		2.50%	2.50%
Northeast Community Bancorp, MHC
Mutual Holding Company Reorganization and Regulatory Matters
Stock issued	7,273,750

Mutual Holding Company Reorga_4

Mutual Holding Company Reorganization and Regulatory Matters - Schedule of capital levels of the bank (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Actual Capital Amount
Total capital (to risk-weighted assets), Actual amount	$ 255,252	$ 222,728
Total capital (to risk-weighted assets), Minimum Capital Adequacy amount	152,097	130,429
Total capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 190,121	$ 163,036
Actual Capital Ratio
Total capital (to risk-weighted assets), Actual ratio	0.1343	0.1366
Total capital (to risk-weighted assets), Minimum Capital Adequacy ratio	0.0800	0.0800
Total capital (to risk-weighted assets), For Classification as Well-Capitalized ratio	0.1000	0.1000
Tier 1 capital Amount
Tier 1 capital (to risk-weighted assets), Actual amount	$ 249,013	$ 217,283
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy amount	114,072	97,822
Tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 152,097	$ 130,429
Tier 1 capital Ratio
Tier 1 capital (to risk-weighted assets), Actual ratio	0.1310	0.1333
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy ratio	0.0600	0.0600
Tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized ratio	0.0800	0.0800
Common Equity Tier 1 Capital Amount
Common equity tier 1 capital (to risk-weighted assets), Actual amount	$ 249,013	$ 217,283
Common equity tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy amount	85,554	73,366
Common equity tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized amount	$ 123,579	$ 105,973
Common Equity Tier 1 Capital Ratio
Common equity tier 1 capital (to risk-weighted assets), Actual ratio	0.1310	0.1333
Common equity tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy ratio	0.0450	0.0450
Common equity tier 1 capital (to risk-weighted assets), For Classification as Well-Capitalized ratio	0.0650	0.0650
Core (Tier 1) Capital Amount
Core (Tier 1) capital (to adjusted total assets), Actual amount	$ 249,013	$ 217,283
Core (Tier 1) capital (to adjusted total assets), Minimum Capital Adequacy amount	69,007	52,687
Core (Tier 1) capital (to adjusted total assets), For Classification as Well-Capitalized amount	$ 86,259	$ 65,858
Core (Tier 1) Capital Ratio
Core (Tier 1) capital (to adjusted total assets), Actual ratio	0.1443	0.1650
Core (Tier 1) capital (to adjusted total assets), Minimum Capital Adequacy ratio	0.0400	0.0400
Core (Tier 1) capital (to adjusted total assets), For Classification as Well-Capitalized ratio	0.0500	0.0500

Financial Instruments with Of_3

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	$ 719,640	$ 948,661
Commitments to extend credit
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	125,885	164,903
Construction loans in process
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	481,277	637,427
Stand-by letters of credit
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	9,508	12,451
Commercial and industrial lines
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	102,903	133,794
Consumer lines
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	$ 67	$ 86

Equity Securities - Schedule of

Equity Securities - Schedule of equity securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Equity Securities
Equity Securities, at Fair Value	$ 18,102	$ 18,041

Equity Securities - Schedule _2

Equity Securities - Schedule of unrealized losses recognized in net income on equity securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity Securities
Net unrealized gain (loss) recognized on equity securities during the period	$ 61	$ (1,902)
Capital gain realized on equity securities during the period	233	329
Realized and unrealized net gain (loss) recognized on equity securities held at the reporting date	$ 294	$ (1,573)

Securities Available-for-Sale -

Securities Available-for-Sale - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Securities Available-for-Sale
Securities available-for-sale, at fair value	$ 0	$ 1
Proceeds from sales of securities available-for-sale	0	0
Unrealized loss	$ 0	$ 0

Securities Available-for-Sale_2

Securities Available-for-Sale - Schedule of portfolio of securities available-for-sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Securities Available-for-Sale
Fair Value	$ 0	$ 1
Mortgage-backed securities - residential
Securities Available-for-Sale
Amortized Cost		1
Fair Value		1
Federal Home Loan Mortgage Corporation
Securities Available-for-Sale
Amortized Cost		1
Fair Value		$ 1

Securities Held-to-Maturity - P

Securities Held-to-Maturity - Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Securities Held-to-Maturity
Amortized Cost	$ 15,996		$ 26,395
Gross Unrealized Losses	2,870		3,530
Fair Value	13,126		22,865
Securities held-to-maturity, allowance for credit losses	136	$ 1,600	136
Government National Mortgage Association
Securities Held-to-Maturity
Amortized Cost	452		523
Gross Unrealized Losses	7		18
Fair Value	445		505
Federal Home Loan Mortgage Corporation
Securities Held-to-Maturity
Amortized Cost	868		961
Gross Unrealized Losses	114		129
Fair Value	754		832
Federal National Mortgage Association
Securities Held-to-Maturity
Amortized Cost	1,985		2,308
Gross Unrealized Losses	198		250
Fair Value	1,787		2,058
Collateralized mortgage obligations - GSE
Securities Held-to-Maturity
Amortized Cost	2,889		3,043
Gross Unrealized Losses	580		506
Fair Value	2,309		2,537
Mortgage-backed securities - residential
Securities Held-to-Maturity
Amortized Cost	6,194		6,835
Gross Unrealized Losses	899		903
Fair Value	5,295		5,932
Municipal Bonds
Securities Held-to-Maturity
Amortized Cost	9,802		9,546
Gross Unrealized Losses	1,971		2,524
Fair Value	7,831		7,022
Securities held-to-maturity, allowance for credit losses	$ 136
U.S Treasury securities
Securities Held-to-Maturity
Amortized Cost			10,014
Gross Unrealized Losses			103
Fair Value			$ 9,911

Securities Held-to-Maturity - C

Securities Held-to-Maturity - Contractual final maturities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Amortized Cost
Due within one year	$ 712
Due after one but within five years	2,024
Due after five but within ten years	2,872
Due after ten years	10,388
Amortized Cost	15,996
Fair Value
Due within one year	639
Due after one but within five years	1,733
Due after five but within ten years	2,666
Due after ten years	8,088
Fair Value	$ 13,126

Securities Held-to-Maturity - A

Securities Held-to-Maturity - Activity in allowance for credit losses for debt securities held-to-maturity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Schedule of Held-to-maturity Securities [Line Items]
Beginning Balance	$ 136
Ending Balance	136
Municipal Bonds
Schedule of Held-to-maturity Securities [Line Items]
Provision for credit loss	4
Ending Balance	136
Municipal Bonds | Impact of adopting ASC 326
Schedule of Held-to-maturity Securities [Line Items]
Beginning Balance	$ 132

Securities Held-to-Maturity -_2

Securities Held-to-Maturity - Age of unrealized losses and the fair value (Details) $ in Thousands	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Fair Value
Less than 12 Months		$ 13,115
12 Months or More		9,742
Total		22,857
Gross Unrealized Losses
Less than 12 Months		537
12 Months or More		2,993
Total		3,530
Government National Mortgage Association
Fair Value
Less than 12 Months		505
12 Months or More	$ 445
Total	445	505
Gross Unrealized Losses
Less than 12 Months		18
12 Months or More	7
Total	7	18
Federal Home Loan Mortgage Corporation
Fair Value
12 Months or More	754	824
Total	754	824
Gross Unrealized Losses
12 Months or More	114	129
Total	114	129
Federal National Mortgage Association
Fair Value
Less than 12 Months		478
12 Months or More	1,787	1,580
Total	1,787	2,058
Gross Unrealized Losses
Less than 12 Months		33
12 Months or More	198	217
Total	198	250
Collateralized mortgage obligations - GSE
Fair Value
Less than 12 Months		1,777
12 Months or More	2,309	759
Total	2,309	2,536
Gross Unrealized Losses
Less than 12 Months		344
12 Months or More	580	162
Total	580	506
Total mortgage-backed securities
Fair Value
Less than 12 Months		2,760
12 Months or More	5,295	3,163
Total	5,295	5,923
Gross Unrealized Losses
Less than 12 Months		395
12 Months or More	899	508
Total	$ 899	$ 903
Mortgage-backed securities
Gross Unrealized Losses
Number of securities with unrealized loss | security	27	35
Municipal Bonds
Fair Value
Less than 12 Months		$ 444
12 Months or More		6,579
Total		7,023
Gross Unrealized Losses
Less than 12 Months		39
12 Months or More		2,485
Total		$ 2,524
Number of securities with unrealized loss | security	8	6
U.S Treasury securities
Fair Value
Less than 12 Months		$ 9,911
Total		9,911
Gross Unrealized Losses
Less than 12 Months		103
Total		$ 103
US Treasury Notes
Gross Unrealized Losses
Number of securities with unrealized loss | security		2

Loans Receivable and the Allo_3

Loans Receivable and the Allowance for Credit Losses - Summary of composition of loans (Details) - USD ($)	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Loans Receivable and the Allowance for Loan Losses
Loans receivable	$ 1,586,721,000		$ 1,217,321,000
Deferred loan costs, net	176,000
Deferred loan costs, net			372,000
Allowance for credit losses	(5,093,000)		(5,474,000)
Allowance for credit losses		$ (132,000)	(5,474,000)	$ (5,242,000)
Net loans	1,581,804,000
Net loans			1,212,219,000
Residential Real Estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable	233,822,000		150,754,000
Allowance for credit losses	(2,433,000)		(528,000)
Allowance for credit losses			(528,000)	(571,000)
Residential Real Estate | One-to-four family
Loans Receivable and the Allowance for Loan Losses
Loans receivable	5,252,000		5,467,000
Residential Real Estate | Multi-family
Loans Receivable and the Allowance for Loan Losses
Loans receivable	198,927,000		123,385,000
Residential Real Estate | Mixed-use
Loans Receivable and the Allowance for Loan Losses
Loans receivable	29,643,000		21,902,000
Non-residential Real Estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable	21,130,000		25,324,000
Allowance for credit losses	(126,000)		(131,000)
Allowance for credit losses			(131,000)	(381,000)
Construction
Loans Receivable and the Allowance for Loan Losses
Loans receivable	1,219,413,000		930,628,000
Allowance for credit losses	(1,914,000)		(3,835,000)
Allowance for credit losses			(3,835,000)	(3,143,000)
Commercial and Industrial
Loans Receivable and the Allowance for Loan Losses
Loans receivable	111,116,000		110,069,000
Allowance for credit losses	(472,000)		(955,000)
Allowance for credit losses			(955,000)	(973,000)
Consumer
Loans Receivable and the Allowance for Loan Losses
Loans receivable	1,240,000		546,000
Allowance for credit losses	$ (148,000)		(18,000)
Allowance for credit losses			$ (18,000)	$ (10,000)

Loans Receivable and the Allo_4

Loans Receivable and the Allowance for Credit Losses - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($) loan
Loans Receivable and the Allowance for Loan Losses
Loans serviced for the benefit of others	$ 40,729,000,000	$ 22,350,000,000
Sale of loan participations	$ 19,200,000	$ 11,500,000
Number of loans sold | loan	3	1
Sale of loan par totaling	$ 10,400,000	$ 1,578,000,000
Sale of loan interest reserve		63,000,000
Gain (loss) on sale of loans	159,000	391,000,000
Individually evaluated loans	$ 4,400,000	855,000
Financing receivable individually evaluated for impairment, nonaccrual number | loan	2
Interest income recognized from individually evaluated loans	$ 0	$ 0
Non-accrual loans | loan		0
Number of loans modified that were deemed troubled debt restructuring | loan	0	0
Construction
Loans Receivable and the Allowance for Loan Losses
Number of loans individually evaluated for impairment | loan	2

Loans Receivable and the Allo_5

Loans Receivable and the Allowance for Credit Losses - Schedule of analysis of the activity in the allowance for loan losses (Details) - USD ($)	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses:
Ending balance	$ 5,093,000		$ 5,474,000
Ending balance: collectively evaluated for impairment	5,093,000
Ending balance	1,586,721,000		1,217,321,000
Ending balance: individually evaluated for impairment	4,385,000
Ending balance: collectively evaluated for impairment	1,582,336,000
Ending balance		$ 132,000	5,474,000	$ 5,242,000
Ending balance: collectively evaluated for impairment			5,474,000
Ending balance			1,217,321,000
Ending balance: individually evaluated for impairment	4,400,000		855,000
Ending balance: collectively evaluated for impairment			1,216,466,000
Residential Real Estate
Allowance for credit losses:
Ending balance	2,433,000		528,000
Ending balance: collectively evaluated for impairment	2,433,000
Ending balance	233,822,000		150,754,000
Ending balance: collectively evaluated for impairment	233,822,000
Ending balance			528,000	571,000
Ending balance: collectively evaluated for impairment			528,000
Ending balance			150,754,000
Ending balance: individually evaluated for impairment			855,000
Ending balance: collectively evaluated for impairment			149,899,000
Non-residential Real Estate
Allowance for credit losses:
Ending balance	126,000		131,000
Ending balance: collectively evaluated for impairment	126,000
Ending balance	21,130,000		25,324,000
Ending balance: collectively evaluated for impairment	21,130,000
Ending balance			131,000	381,000
Ending balance: collectively evaluated for impairment			131,000
Ending balance			25,324,000
Ending balance: collectively evaluated for impairment			25,324,000
Construction
Allowance for credit losses:
Ending balance	1,914,000		3,835,000
Ending balance: collectively evaluated for impairment	1,914,000
Ending balance	1,219,413,000		930,628,000
Ending balance: individually evaluated for impairment	4,385,000
Ending balance: collectively evaluated for impairment	1,215,028,000
Ending balance			3,835,000	3,143,000
Ending balance: collectively evaluated for impairment			3,835,000
Ending balance			930,628,000
Ending balance: collectively evaluated for impairment			930,628,000
Commercial and Industrial
Allowance for credit losses:
Ending balance	472,000		955,000
Ending balance: collectively evaluated for impairment	472,000
Ending balance	111,116,000		110,069,000
Ending balance: collectively evaluated for impairment	111,116,000
Ending balance			955,000	973,000
Ending balance: collectively evaluated for impairment			955,000
Ending balance			110,069,000
Ending balance: collectively evaluated for impairment			118,378,000
Consumer
Allowance for credit losses:
Ending balance	148,000		18,000
Ending balance: collectively evaluated for impairment	148,000
Ending balance	1,240,000		546,000
Ending balance: collectively evaluated for impairment	$ 1,240,000
Ending balance			18,000	10,000
Ending balance: collectively evaluated for impairment			18,000
Ending balance			546,000
Ending balance: collectively evaluated for impairment			546,000
Unallocated
Allowance for credit losses:
Ending balance			7,000
Ending balance			7,000	$ 164,000
Ending balance: collectively evaluated for impairment			$ 7,000

Loans Receivable and the Allo_6

Loans Receivable and the Allowance for Credit Losses - Unfunded loan commitment allowances activity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	$ 5,474
Charge-offs	(313)
Provision (Benefit)	1,516
Ending balance	5,093
Residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	528
Provision (Benefit)	1,010
Ending balance	2,433
Non-residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	131
Provision (Benefit)	(12)
Ending balance	126
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	3,835
Charge-offs	(159)
Provision (Benefit)	324
Ending balance	1,914
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	955
Provision (Benefit)	(46)
Ending balance	472
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	18
Charge-offs	(154)
Provision (Benefit)	240
Ending balance	148
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance	7
Cumulative effect of adoption of ASU 2016-13
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	(1,584)
Cumulative effect of adoption of ASU 2016-13 | Residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	895
Cumulative effect of adoption of ASU 2016-13 | Non-residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	7
Cumulative effect of adoption of ASU 2016-13 | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	(2,086)
Cumulative effect of adoption of ASU 2016-13 | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	(437)
Cumulative effect of adoption of ASU 2016-13 | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	44
Cumulative effect of adoption of ASU 2016-13 | Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Ending balance	$ (7)

Loans Receivable and the Allo_7

Loans Receivable and the Allowance for Credit Losses - Schedule of analysis of the activity in the allowance for loan loss by loan class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Allowance for loan losses:
Beginning balance	$ 5,474	$ 5,242
Charge-offs		(449)
Recoveries		242
Provision for credit losses	972	439
Ending balance		5,474
Residential Real Estate
Allowance for loan losses:
Beginning balance	528	571
Charge-offs		(86)
Recoveries		189
Provision for credit losses		(146)
Ending balance		528
Non-residential Real Estate
Allowance for loan losses:
Beginning balance	131	381
Recoveries		53
Provision for credit losses		(303)
Ending balance		131
Construction
Allowance for loan losses:
Beginning balance	3,835	3,143
Charge-offs		(328)
Provision for credit losses		1,020
Ending balance		3,835
Commercial and Industrial
Allowance for loan losses:
Beginning balance	955	973
Provision for credit losses		(18)
Ending balance		955
Consumer
Allowance for loan losses:
Beginning balance	18	10
Charge-offs		(35)
Provision for credit losses		43
Ending balance		18
Unallocated
Allowance for loan losses:
Beginning balance	$ 7	164
Provision for credit losses		(157)
Ending balance		$ 7

Loans Receivable and the Allo_8

Loans Receivable and the Allowance for Credit Losses - Summary of recorded investment, unpaid principal balance and allocated allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Recorded Investment
Recorded Investment, With no related allowance	$ 4,385	$ 855
Recorded Investment	4,385	855
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	4,353	769
Unpaid Principal Balance	4,353	769
Average Recorded Investment
Average Recorded Investment, With no related allowance	5,930	1,248
Average Recorded Investment	5,930	1,248
Interest Income Recognized
Interest Income Recognized, With no related allowance		57
Interest Income Recognized		57
Residential Real Estate
Recorded Investment
Recorded Investment, With no related allowance		855
Recorded Investment		855
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance		769
Unpaid Principal Balance		769
Average Recorded Investment
Average Recorded Investment, With no related allowance		863
Average Recorded Investment		863
Interest Income Recognized
Interest Income Recognized, With no related allowance		43
Interest Income Recognized		43
Non-residential Real Estate
Average Recorded Investment
Average Recorded Investment, With no related allowance		385
Average Recorded Investment		385
Interest Income Recognized
Interest Income Recognized, With no related allowance		14
Interest Income Recognized		$ 14
Construction
Recorded Investment
Recorded Investment, With no related allowance	4,385
Recorded Investment	4,385
Unpaid Principal Balance
Unpaid Principal Balance, With no related allowance	4,353
Unpaid Principal Balance	4,353
Average Recorded Investment
Average Recorded Investment, With no related allowance	5,930
Average Recorded Investment	$ 5,930

Loans Receivable and the Allo_9

Loans Receivable and the Allowance for Credit Losses - Schedule of age analysis of past due loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans Receivable and the Allowance for Loan Losses
Loans receivable		$ 1,217,321
Loans receivable	$ 1,586,721	1,217,321
30-59 Days Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable	2,320
60-89 Days Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable		946
90 Days Or Greater
Loans Receivable and the Allowance for Loan Losses
Loans receivable	4,385
Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable		946
Loans receivable	6,705
Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		1,216,375
Loans receivable	1,580,016
Residential Real Estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable		150,754
Loans receivable	233,822	150,754
Residential Real Estate | One-to-four family
Loans Receivable and the Allowance for Loan Losses
Loans receivable		5,467
Loans receivable	5,252	5,467
Residential Real Estate | One-to-four family | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		5,467
Loans receivable	5,252
Residential Real Estate | Multi-family
Loans Receivable and the Allowance for Loan Losses
Loans receivable		123,385
Loans receivable	198,927	123,385
Residential Real Estate | Multi-family | 60-89 Days Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable		946
Residential Real Estate | Multi-family | Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable		946
Residential Real Estate | Multi-family | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		122,439
Loans receivable	198,927
Residential Real Estate | Mixed-use
Loans Receivable and the Allowance for Loan Losses
Loans receivable		21,902
Loans receivable	29,643	21,902
Residential Real Estate | Mixed-use | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		21,902
Loans receivable	29,643
Non-residential Real Estate
Loans Receivable and the Allowance for Loan Losses
Loans receivable		25,324
Loans receivable	21,130	25,324
Non-residential Real Estate | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		25,324
Loans receivable	21,130
Construction
Loans Receivable and the Allowance for Loan Losses
Loans receivable		930,628
Loans receivable	1,219,413	930,628
Construction | 30-59 Days Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable	2,319
Construction | 90 Days Or Greater
Loans Receivable and the Allowance for Loan Losses
Loans receivable	4,385
Construction | Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable	6,704
Construction | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		930,628
Loans receivable	1,212,709
Commercial and Industrial
Loans Receivable and the Allowance for Loan Losses
Loans receivable		110,069
Loans receivable	111,116	110,069
Commercial and Industrial | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		110,069
Loans receivable	111,116
Consumer
Loans Receivable and the Allowance for Loan Losses
Loans receivable		546
Loans receivable	1,240	546
Consumer | 30-59 Days Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable	1
Consumer | Past Due
Loans Receivable and the Allowance for Loan Losses
Loans receivable	1
Consumer | Current
Loans Receivable and the Allowance for Loan Losses
Loans receivable		$ 546
Loans receivable	$ 1,239

Loans Receivable and the All_10

Loans Receivable and the Allowance for Credit Losses - Summary of risk category of loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loans Receivable and the Allowance for Loan Losses
2023	$ 466,030
2022	581,524
2021	243,682
2020	73,291
2019	27,163
Prior	100,664
Revolving Loans Amortized Cost Basis	91,312
Revolving Loans Converted to Term	3,055
Total	1,586,721	$ 1,217,321
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff
2023	154
Prior	159
Total	313
Residential Real Estate
Loans Receivable and the Allowance for Loan Losses
2023	81,379
2022	71,932
2021	24,504
2020	11,611
2019	1,326
Prior	43,070
Total	233,822	150,754
Non-residential Real Estate
Loans Receivable and the Allowance for Loan Losses
2023	1,602
2022	251
2021	1,841
2020	995
2019	379
Prior	16,062
Total	21,130	25,324
Construction
Loans Receivable and the Allowance for Loan Losses
2023	376,763
2022	501,012
2021	216,901
2020	60,250
2019	25,150
Prior	39,337
Total	1,219,413	930,628
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff
Prior	159
Total	159
Commercial and Industrial
Loans Receivable and the Allowance for Loan Losses
2023	5,057
2022	8,329
2021	436
2020	435
2019	308
Prior	2,195
Revolving Loans Amortized Cost Basis	91,301
Revolving Loans Converted to Term	3,055
Total	111,116	110,069
Consumer
Loans Receivable and the Allowance for Loan Losses
2023	1,229
Revolving Loans Amortized Cost Basis	11
Total	1,240	546
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff
2023	154
Total	154
Pass
Loans Receivable and the Allowance for Loan Losses
2023	466,030
2022	581,524
2021	243,682
2020	67,991
2019	27,163
Prior	100,664
Revolving Loans Amortized Cost Basis	91,312
Revolving Loans Converted to Term	3,055
Total	1,581,421	1,215,520
Pass | Residential Real Estate
Loans Receivable and the Allowance for Loan Losses
2023	81,379
2022	71,932
2021	24,504
2020	10,696
2019	1,326
Prior	43,070
Total	232,907	148,953
Pass | Non-residential Real Estate
Loans Receivable and the Allowance for Loan Losses
2023	1,602
2022	251
2021	1,841
2020	995
2019	379
Prior	16,062
Total	21,130	25,324
Pass | Construction
Loans Receivable and the Allowance for Loan Losses
2023	376,763
2022	501,012
2021	216,901
2020	55,865
2019	25,150
Prior	39,337
Total	1,215,028	930,628
Pass | Commercial and Industrial
Loans Receivable and the Allowance for Loan Losses
2023	5,057
2022	8,329
2021	436
2020	435
2019	308
Prior	2,195
Revolving Loans Amortized Cost Basis	91,301
Revolving Loans Converted to Term	3,055
Total	111,116	110,069
Pass | Consumer
Loans Receivable and the Allowance for Loan Losses
2023	1,229
Revolving Loans Amortized Cost Basis	11
Total	1,240	546
Special Mention
Loans Receivable and the Allowance for Loan Losses
2020	915
Total	915	946
Special Mention | Residential Real Estate
Loans Receivable and the Allowance for Loan Losses
2020	915
Total	915	946
Substandard
Loans Receivable and the Allowance for Loan Losses
2020	4,385
Total	4,385	855
Substandard | Residential Real Estate
Loans Receivable and the Allowance for Loan Losses
Total		$ 855
Substandard | Construction
Loans Receivable and the Allowance for Loan Losses
2020	4,385
Total	$ 4,385

Loans Receivable and the All_11

Loans Receivable and the Allowance for Credit Losses - Summary of allowance for credit losses on off balance sheet commitments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]
Provisions of credit loss expense - off-balance sheet commitments	$ (548)
Ending balance of allowance for Credit Loss on off-balance sheet Commitments	1,038
Impact of adopting ASC 326 | Adoption of ASU 2016-13
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]
Ending balance of allowance for Credit Loss on off-balance sheet Commitments	$ 1,586

Premises and Equipment, Net (De

Premises and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 39,420	$ 38,920
Accumulated depreciation and amortization	(13,968)	(12,857)
Premises and equipment, net	25,452	26,063
Depreciation expense	1,219	1,246
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	6,652	6,652
Buildings and improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	22,912	22,647
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,805	1,741
Furnishings and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 8,051	$ 7,880

Accrued Interest Receivable, _3

Accrued Interest Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Interest Receivable, Net
Loans receivable	$ 12,273	$ 8,532
Securities	38	65
Total	$ 12,311	$ 8,597

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets
Goodwill		$ 1,310,000
Accumulative goodwill impairment		(1,110,000)
Goodwill, net of charge-off	$ 0	200,000
Loss on disposition of business	$ 138,000
Impairment of goodwill		$ 451,000

Real Estate Owned ("REO") (Deta

Real Estate Owned ("REO") (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Real Estate Owned ("REO")
Number of foreclosed property owned | property	1	1
Value of foreclosed property owned	$ 1,456,000	$ 1,456,000
REO expense including loss on sales and write-downs	$ 93,000	$ 623,000

Property Held For Investment (D

Property Held For Investment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Property Held For Investment
Land	$ 500	$ 500
Buildings and improvements	1,442	1,442
Property Held For Investment, Cost	1,942	1,942
Accumulated depreciation and amortization	(535)	(498)
Real Estate Investment Property, Net, Total	$ 1,407	$ 1,444
Number of property held for investment | property	1	1

Deposits - Total deposits and t

Deposits - Total deposits and the weighted average rate of deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amount
Non-interest bearing	$ 300,184	$ 376,302
NOW and money market	144,807	88,122
Total	444,991	464,424
Savings accounts	192,594	273,839
Certificates of deposit maturing in:
One year or less	596,091	258,873
After one to two years	81,118	76,180
After two to three years	1,462	34,204
After three to four years	12,371	1,318
After four years	71,409	13,117
Total	762,451	383,692
Total deposits	$ 1,400,036	$ 1,121,955
Weighted Average Interest Rate
NOW and money market	3.07%	0.95%
Total	1%	0.18%
Savings accounts	2.71%	2.68%
Certificates of deposit maturing in:
One year or less	4.83%	3.11%
After one to two years	3.24%	2.78%
After two to three years	0.72%	0.61%
After three to four years	1.31%	0.75%
Atter four years	5.03%	1.28%
Total	4.62%	2.75%
Weighted average rate of deposits	3.20%	1.67%

Deposits - Narrative (Details)

Deposits - Narrative (Details)	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)
Cash and cash equivalents
Demand deposit overdrafts	$ 1,229,000	$ 517,000
Brokered deposits	311,200,000	114,200,000
Insured Cash Sweep ("ICS") reciprocal money market deposits	$ 13,000,000	10,900,000
Number of retail depositors | item	7
Certificates of deposit
Cash and cash equivalents
Deposits in excess of $2,50,000	$ 178,112,000	$ 205,845,000

Deposits - Interest expense (De

Deposits - Interest expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest expense on domestic deposit liabilities
Demand deposits	$ 2,459	$ 918
Savings accounts	6,777	2,688
Certificates of deposit	24,945	3,938
Interest expense on deposits	$ 34,181	$ 7,544

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Advances maturing in:
One year or less	$ 7,000	$ 7,000
After one to three years		7,000
After five years (due 2030)	7,000	7,000
FHLB advances	$ 14,000	$ 21,000
Weighted Average Interest Rate
One year or less	2.86%	2.83%
After one to three years		2.86%
After five years (due 2030)	1.61%	1.61%
FHLB advances weighted average interest rate (as a percent)	2.24%	2.43%

Borrowings - Narrative (Details

Borrowings - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Borrowings
Advances subject to early call or redemption features	$ 0
Outstanding borrowings	$ 14,000	$ 21,000
Minimum
Borrowings
Term of the advance	2 years
Maximum
Borrowings
Term of the advance	10 years
Federal Reserve Bank of New York ("FRBNY").
Borrowings
Outstanding borrowings	$ 50,000
Interest rate (as a percent)	5.50%
Available borrowing limit	$ 865,100
FHLB
Borrowings
Maximum borrowing capacity	29,700
Outstanding borrowings	14,000
Atlantic Community Bankers Bank
Borrowings
Outstanding borrowings	$ 8,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes
Percentage of allowance for bad debt deductible	8%
Bad debt deductions included in retained earnings	$ 4,100	$ 4,100
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current tax expense	18,832	10,894
Deferred tax expense	(367)	(1,308)
Income Tax Expense (Benefit), Total	$ 18,465	$ 9,586

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Federal income tax rate		21%	21%
Federal income tax at statutory rates	$ 13,596	$ 7,230
State and city tax, net of federal income tax effect	4,851	2,321
Non-taxable income on bank owned life insurance	(213)	(127)
Other	231	162
Income Tax Expense (Benefit), Total	$ 18,465	$ 9,586
Effective Income Tax Rate	28.50%	27.80%

Income Taxes - Net deferred tax

Income Taxes - Net deferred tax assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Allowance for credit losses	$ 1,313,000	$ 1,411,000
State net operating loss carryforwards	24,000	150,000
Benefit plans	2,335,000	2,063,000
Accumulated other comprehensive loss - DRP	35,000
Other	653,000	273,000
Total Deferred Tax Assets	4,360,000	3,897,000
Deferred tax liability:
Depreciation	497,000	418,000
Goodwill		52,000
Accumulated other comprehensive gain - DRP		42,000
Total Deferred Tax Liabilities	497,000	512,000
Net Deferred Tax Assets Included in Other Assets	3,863,000	$ 3,385,000
Valuation Allowance - State Deferred Tax Assets	0
State and Local Jurisdiction
Deferred tax liability:
Net operating loss (NOL) carryforwards subject to expiration	$ 500,000

Other Non-Interest Expenses (De

Other Non-Interest Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other Non-Interest Expenses
Other	$ 4,043	$ 2,827
Service contracts	1,424	1,092
Consulting expense	780	950
Telephone	673	611
Directors compensation	892	676
Audit and accounting	497	566
Insurance	395	372
Director, officer, and employee expense	252	258
Legal fees	617	765
Office supplies and stationary	167	137
Recruiting expense	30	93
Other non-interest expenses	$ 9,770	$ 8,347

Benefits Plans - Funded status

Benefits Plans - Funded status of the DRP (Details) - Pension Plan - DRP - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Benefits Plans
Projected benefit obligation - beginning	$ 1,808	$ 2,087
Service cost	94	97
Interest cost	85	81
Actuarial gain	(116)	(353)
Benefits Paid	(104)	(104)
Projected benefit obligation - ending	1,767	1,808
Accumulated benefit obligation	$ 1,675	$ 1,712
Discount rate	5.21%	4.83%
Rate of increase in future compensation levels	2%	2%
Accounts payable and accrued expenses
Benefits Plans
Funded status - accrued liability included in accounts payable and accrued expenses	$ 1,767	$ 1,808

Benefits Plans - Net periodic p

Benefits Plans - Net periodic pension expense (Details) - Pension Plan - DRP - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Net periodic pension expense:
Service cost	$ 94	$ 97
Interest cost	85	81
Actuarial (gain) loss amortized	(32)	27
Total net periodic pension expense included in other non-interest expenses	$ 147	$ 205
Discount rate	5.21%	4.83%
Rate of increase in future compensation levels	2%	2%

Benefits Plans - Benefit paymen

Benefits Plans - Benefit payments (Details) - Pension Plan - DRP - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Estimated Future Benefit Payments
2024	$ 104
2025	190
2026	204
2027	230
2028	230
2029 to 2033	957
Unrecognized net gain	$ 116	$ 353

Benefits Plans - Narrative (Det

Benefits Plans - Narrative (Details)			12 Months Ended
	Jul. 12, 2021 USD ($) item $ / shares shares	Jul. 05, 2006 shares	Dec. 31, 2023 USD ($) item $ / shares shares	Dec. 31, 2022 USD ($) shares
Benefits Plans
Common stock shares acquired | shares		5,951,250
Balance remaining on the ESOP loan			$ 1,581,804,000
Balance remaining on the ESOP loan				$ 1,212,219,000
Shares committed to be released | shares			86,920	86,920
401 (K) Plan
Benefits Plans
Participants maximum contribution (as a percent)			60%
Employers matching contribution (as a percent)			0%	0%
401 (K) Plan | Minimum
Benefits Plans
Participants maximum contribution (as a percent)			1%
401 (K) Plan | Maximum
Benefits Plans
Participants maximum contribution (as a percent)			15%
ESOP 2006 | Employee Stock Ownership Plan Loan
Benefits Plans
Amount borrowed from company			$ 5,184,200
Common stock shares acquired | shares			518,420
Share price | $ / shares			$ 10
Interest rate on loans (as a percent)			8.25%
Number of installments of loans receivable | item			20
Balance remaining on the ESOP loan			$ 919,000
Balance remaining on the ESOP loan				$ 1,327,000
Shares committed to be released | shares			2,894
Expense on defined benefit plan			$ 1,314,000	1,075,000
Dividends on unallocated shares reduced from loan			188,000	365,000
Dividends on allocated shares charged to retained earnings			167,000	255,000
ESOP 2021 | Employee Stock Ownership Plan Loan
Benefits Plans
Amount borrowed from company	$ 7,827,260
Common stock shares acquired | shares	782,726
Share price | $ / shares	$ 10
Interest rate on loans (as a percent)	3.25%
Number of installments of loans receivable | item	15
Balance remaining on the ESOP loan			$ 6,417,000
Balance remaining on the ESOP loan				6,850,000
Shares committed to be released | shares			4,348
Pension Plan | SERP
Benefits Plans
Monthly installments			50%
Term of average base salary preceding retirement			3 years
2024			$ 0
2025			0
2026			0
2027			0
2028			0
Expense on defined benefit plan			143,000	239,000
Liability for defined benefit plan			$ 4,160,000	$ 4,017,000
Pension Plan | SERP | Minimum
Benefits Plans
Benefit payment term			15 years

Benefits Plans - ESOP shares (D

Benefits Plans - ESOP shares (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Benefits Plans
Allocated shares	694,842	607,922
Shares committed to be released	86,920	86,920
Unearned shares	695,647	782,567
Total ESOP Shares	1,477,409	1,477,409
Less allocated shares distributed to former or retired employees	(143,612)	(122,280)
Total ESOP Shares Held by Trustee	1,333,797	1,355,129
Fair value of unearned shares	$ 12,340,778	$ 11,675,897

Stock Based Compensation (Detai

Stock Based Compensation (Details) - 2022 Equity Incentive Plan - shares	Dec. 31, 2023	Sep. 29, 2022
Stock Compensation Plans
Number of shares authorized under incentive plan		1,369,771
Number of common stock reserved	132,759
Restricted stock
Stock Compensation Plans
Number of common stock reserved	34,448
Employee Stock Option
Stock Compensation Plans
Number of common stock reserved	98,311

Stock Based Compensation - Rest

Stock Based Compensation - Restricted stock activity (Details) - Restricted stock - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Shares
Outstanding, Beginning of year	352,037
Granted	4,878	352,037
Vested	70,407
Outstanding, end of year	286,508	352,037
Weighted Average Grant -Date Market Price
Outstanding, Beginning of year	$ 13.67
Granted	16.88	$ 13.67
Outstanding, end of year	$ 13.72	$ 13.67
Compensation expense related to restricted stock	$ 968,000	$ 116,000
Compensation cost not yet recognized	$ 3,800,000	$ 4,700,000
Period over which unrecognized compensation costs expected to recognized	5 years

Stock Based Compensation - Stoc

Stock Based Compensation - Stock option activity (Details) - Stock option - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Options
Outstanding, Beginning of year	880,097
Granted		880,097
Outstanding, end of year	880,097	880,097
Exercisable at end of year	176,019
Weighted Average Grant -Date Market Price
Outstanding, Beginning of year	$ 13.67
Granted		$ 13.67
Outstanding, end of year	13.67	13.67
Exercisable at end of year	$ 13.67
Weighted average fair value of options granted in current year		$ 4.36
Compensation cost recognized	$ 768,000	$ 92,000
Unrecognized compensation cost	$ 3,000,000
Period over which unrecognized compensation costs expected to recognized	5 years

Stock Based Compensation - Weig

Stock Based Compensation - Weighted average assumptions (Details) - Stock option	12 Months Ended
	Dec. 31, 2022
Stock Compensation Plans
Risk-free interest rate (minimum)	3.87%
Risk-free interest rate (maximum)	3.97%
Expected volatility (Minimum)	28.79%
Expected volatility (Maximum)	28.94%
Expected life (years)	7 years 6 months
Minimum
Stock Compensation Plans
Expected dividend yield	1.70%
Maximum
Stock Compensation Plans
Expected dividend yield	1.94%

Leases - Narrative (Details)

Leases - Narrative (Details)	12 Months Ended
	Dec. 31, 2023
Leases
Operating lease option to extend	true
Finance lease remaining lease terms	93 years
Finance lease option to extend	true
Minimum
Leases
Operating lease remaining lease terms	1 year
Operating lease initial lease terms	5 years
Maximum
Leases
Operating lease remaining lease terms	10 years
Operating lease initial lease terms	10 years

Leases - Schedule of leases of

Leases - Schedule of leases of the Company (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finance Lease Amounts:
ROU asset	$ 351	$ 355
Lease liability	571	533
Operating Lease Amounts:
ROU assets	4,566	2,312
Lease liability	4,625	2,363
Amortization of ROU asset	4	4
Interest on lease liability	38	37
Operating Lease Costs	566	567
Cash paid for amounts included in the measurement of lease liabilities
Finance lease	0	0
Operating leases	$ 511	$ 558
Finance lease	93 years	94 years
Operating leases	8 years 6 months 29 days	6 years 2 months 8 days
Finance lease	9.50%	9.50%
Operating leases	5.18%	1.50%

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Maturities of Operating lease liabilities
2024	$ 740
2025	738
2026	622
2027	637
2028	595
Thereafter	2,475
Total lease payments	5,807
Interest	(1,182)
Lease liability	4,625	$ 2,363
Maturities of Finance lease liabilities
2024	30
2025	30
2026	31
2027	36
2028	36
Thereafter	4,016
Total lease payments	4,179
Interest	(3,608)
Lease liability	$ 571	$ 533

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets carried at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures
Transfer of Assets from Level 1 to 2	$ 0	$ 0
Transfer of Assets from Level 2 to 1	0	0
Transfer of Liabilities from Level 1 to 2	0	0
Transfer of Liabilities from Level 2 to 1	0	0
Recurring
Fair Value Disclosures
Total assets	18,102	18,042
Total Liabilities	0	0
Recurring | Mutual funds
Fair Value Disclosures
Total assets	18,102	18,041
Recurring | FHLMC
Fair Value Disclosures
Total assets		1
Level 1 | Recurring
Fair Value Disclosures
Total assets	18,102	18,041
Level 1 | Recurring | Mutual funds
Fair Value Disclosures
Total assets	$ 18,102	18,041
Level 2 | Recurring
Fair Value Disclosures
Total assets		1
Level 2 | Recurring | FHLMC
Fair Value Disclosures
Total assets		$ 1

Fair Value Disclosures - Asse_2

Fair Value Disclosures - Assets carried at fair value on a non-recurring basis (Details) - Non recurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures
Total assets	$ 5,841	$ 2,311
Total Liabilities	0	0
Collateral dependent loans
Fair Value Disclosures
Total assets	4,385	855
Real estate owned
Fair Value Disclosures
Total assets	1,456	1,456
Level 3
Fair Value Disclosures
Total assets	5,841	2,311
Level 3 | Collateral dependent loans
Fair Value Disclosures
Total assets	4,385	855
Level 3 | Real estate owned
Fair Value Disclosures
Total assets	$ 1,456	$ 1,456

Fair Value Disclosures - Qualit

Fair Value Disclosures - Qualitative information about non-recurring Level III fair value measurements (Details) - Non recurring $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Disclosures
Fair value	$ 5,841	$ 2,311
Real estate owned
Fair Value Disclosures
Fair value	1,456	1,456
Collateral dependent loans
Fair Value Disclosures
Fair value	4,385	855
Level 3
Fair Value Disclosures
Fair value	5,841	2,311
Level 3 | Impaired loans | Income approach
Fair Value Disclosures
Fair value		$ 855
Level 3 | Impaired loans | Income approach | Capitalization rate
Fair Value Disclosures
Securities held for sale		5.60
Level 3 | Impaired loans | Income approach | Weighted Average | Capitalization rate
Fair Value Disclosures
Securities held for sale		5.60
Level 3 | Real estate owned
Fair Value Disclosures
Fair value	1,456	$ 1,456
Level 3 | Real estate owned | Income approach
Fair Value Disclosures
Fair value	$ 1,456	$ 1,456
Level 3 | Real estate owned | Income approach | Capitalization rate
Fair Value Disclosures
Securities held for sale	12	12
Level 3 | Real estate owned | Income approach | Weighted Average | Capitalization rate
Fair Value Disclosures
Securities held for sale	12	12
Level 3 | Collateral dependent loans
Fair Value Disclosures
Fair value	$ 4,385	$ 855
Level 3 | Collateral dependent loans | Income approach
Fair Value Disclosures
Fair value	$ 4,385
Level 3 | Collateral dependent loans | Income approach | Capitalization rate
Fair Value Disclosures
Securities held for sale	6
Level 3 | Collateral dependent loans | Income approach | Weighted Average | Capitalization rate
Fair Value Disclosures
Securities held for sale	6

Fair Value Disclosures - Carryi

Fair Value Disclosures - Carrying amounts and estimated fair value of our financial instruments (Details) - Non recurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Disclosures
Total assets	$ 5,841	$ 2,311
Carrying Amount | Deposits
Fair Value Disclosures
Financial Liabilities	1,400,036	1,121,955
Carrying Amount | Borrowings
Fair Value Disclosures
Financial Liabilities	64,000
Carrying Amount | FHLB of New York advances
Fair Value Disclosures
Financial Liabilities		21,000
Carrying Amount | Cash and cash equivalents
Fair Value Disclosures
Total assets	68,671	95,308
Carrying Amount | Certificates of deposit
Fair Value Disclosures
Total assets	100	100
Carrying Amount | Marketable equity securities
Fair Value Disclosures
Total assets	18,102	18,041
Carrying Amount | Securities available for sale
Fair Value Disclosures
Total assets		1
Carrying Amount | Securities held to maturity
Fair Value Disclosures
Total assets	15,860	26,395
Carrying Amount | Loans receivable, net
Fair Value Disclosures
Total assets	1,581,804	1,212,219
Carrying Amount | Investments in restricted stock
Fair Value Disclosures
Total assets	929	1,238
Carrying Amount | Accrued interest receivable
Fair Value Disclosures
Total assets	12,311	8,597
Fair Value | Deposits
Fair Value Disclosures
Financial Liabilities	1,401,083	1,121,107
Fair Value | Borrowings
Fair Value Disclosures
Financial Liabilities	63,053
Fair Value | FHLB of New York advances
Fair Value Disclosures
Financial Liabilities		19,437
Fair Value | Cash and cash equivalents
Fair Value Disclosures
Total assets	68,671	95,308
Fair Value | Certificates of deposit
Fair Value Disclosures
Total assets	100	100
Fair Value | Marketable equity securities
Fair Value Disclosures
Total assets	18,102	18,041
Fair Value | Securities available for sale
Fair Value Disclosures
Total assets		1
Fair Value | Securities held to maturity
Fair Value Disclosures
Total assets	13,126	22,865
Fair Value | Loans receivable, net
Fair Value Disclosures
Total assets	1,552,219	1,191,483
Fair Value | Investments in restricted stock
Fair Value Disclosures
Total assets	929	1,238
Fair Value | Accrued interest receivable
Fair Value Disclosures
Total assets	12,311	8,597
Level 1 | Fair Value | Cash and cash equivalents
Fair Value Disclosures
Total assets	68,671	95,308
Level 1 | Fair Value | Marketable equity securities
Fair Value Disclosures
Total assets	18,102	18,041
Level 2 | Fair Value | Deposits
Fair Value Disclosures
Financial Liabilities	1,401,083	1,121,107
Level 2 | Fair Value | Borrowings
Fair Value Disclosures
Financial Liabilities	63,053
Level 2 | Fair Value | FHLB of New York advances
Fair Value Disclosures
Financial Liabilities		19,437
Level 2 | Fair Value | Certificates of deposit
Fair Value Disclosures
Total assets	100	100
Level 2 | Fair Value | Securities available for sale
Fair Value Disclosures
Total assets		1
Level 2 | Fair Value | Securities held to maturity
Fair Value Disclosures
Total assets	13,126	22,865
Level 2 | Fair Value | Investments in restricted stock
Fair Value Disclosures
Total assets	929	1,238
Level 2 | Fair Value | Accrued interest receivable
Fair Value Disclosures
Total assets	12,311	8,597
Level 3
Fair Value Disclosures
Total assets	5,841	2,311
Level 3 | Fair Value | Loans receivable, net
Fair Value Disclosures
Total assets	$ 1,552,219	$ 1,191,483

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Balance remaining on the ESOP loan	$ 1,581,804,000
Deposits of related parties	2,100,000	$ 2,400,000
Kevin P. O'Malley, P.C Law Firm
Related Party Transaction [Line Items]
Payment of related party expenses on construction loans	497,000	835,000
Payment of related party expenses on corporate related matter	0	3,000
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Balance remaining on the ESOP loan	$ 0	$ 0

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue Recognition
Deposit-related fees and charges	$ 55	$ 67
Loan-related fees and charges	892	1,064
Electronic banking fees and charges	944	863
(Loss) gain on disposition of equipment	(18)	98
Income from bank owned life insurance	1,013	604
Investment advisory fees	458	474
Realized and unrealized gain (loss) on equity securities	294	(1,573)
Miscellaneous	105	86
Total Non-Interest Income	$ 3,743	$ 1,683

Parent Company Only Financial_3

Parent Company Only Financial Information - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 13,394	$ 13,210
Balance remaining on the ESOP loan	1,581,804
Total assets	1,764,135	1,424,963
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	13,558	14,754
Total liabilities	1,484,810	1,162,974
Total stockholders' equity	279,325	261,989	$ 251,382
Total liabilities and stockholders' equity	1,764,135	1,424,963
Parent Company [Member]
ASSETS
Cash and due from banks	4,268	20,334
Investment in subsidiary	254,654	220,706
Balance remaining on the ESOP loan	14,121	13,688
ESOP loan receivable	7,336	8,177
Total assets	280,379	262,905
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	1,054	916
Total liabilities	1,054	916
Total stockholders' equity	279,325	261,989
Total liabilities and stockholders' equity	$ 280,379	$ 262,905

Parent Company Only Financial_4

Parent Company Only Financial Information - Condensed Statements of Financial Condition (Parentheticals) (Details) - USD ($)	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
ACL on loan receivables	$ 5,093,000		$ 5,474,000
ACL on loan receivables		$ 132,000	5,474,000	$ 5,242,000
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
ACL on loan receivables	$ 45,000
ACL on loan receivables			$ 92,000

Parent Company Only Financial_5

Parent Company Only Financial Information - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Interest income - loans	$ 127,486	$ 69,992
Interest income - interest-earning deposits	4,143	1,260
Provision for loan losses	(972)	(439)
Income before Income Tax Expense and Equity in Undistributed Earnings of Subsidiary	64,741	34,429
Income tax (benefit) expense	18,465	9,586
Net income (basic and diluted)	46,276	24,843
Comprehensive Income	46,437	25,138
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Interest income - loans	1,371	240
Interest income - ESOP loan	333	377
Interest income - interest-earning deposits	179	343
Dividend income from subsidiary	14,000
Operating expenses	(2,298)	(956)
Income before Income Tax Expense and Equity in Undistributed Earnings of Subsidiary	13,585	4
Income tax (benefit) expense	(120)	1
Income before Equity in Undistributed Earnings of Subsidiary	13,705	3
Equity in undistributed earnings of subsidiary	32,571	24,840
Net income (basic and diluted)	46,276	24,843
Comprehensive Income	$ 46,336	$ 25,138

Parent Company Only Financial_6

Parent Company Only Financial Information - Statements of Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows from Operating Activities
Net Income (Loss)	$ 46,276	$ 24,843
Adjustments to reconcile net income to net cash provided by operating activities:
Net Cash Provided by Operating Activities	42,835	27,539
Cash Flows from Investing Activities
Net Cash Provided (Used in) by Investing Activities	(357,842)	(256,590)
Cash Flows from Financing Activities
Cash dividends paid	(3,652)	(6,868)
Stock repurchases	(28,710)	(9,318)
Net Cash Used in Financing Activities	288,370	172,090
Net Decrease in Cash and Cash Equivalents	(26,637)	(56,961)
Cash and Cash Equivalents - Beginning	95,308	152,269
Cash and Cash Equivalents - Ending	68,671	95,308
Parent Company
Cash Flows from Operating Activities
Net Income (Loss)	46,276	24,843
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary	(32,571)	(24,840)
Other, net	2,183	544
Net Cash Provided by Operating Activities	15,888	547
Cash Flows from Investing Activities
Repayment of ESOP loan	841	796
Net increase in loans	(433)	(9,211)
Net Cash Provided (Used in) by Investing Activities	408	(8,415)
Cash Flows from Financing Activities
Cash dividends paid	(3,652)	(6,868)
Stock repurchases	(28,710)	(9,318)
Net Cash Used in Financing Activities	(32,362)	(16,186)
Net Decrease in Cash and Cash Equivalents	(16,066)	(24,054)
Cash and Cash Equivalents - Beginning	20,334	44,388
Cash and Cash Equivalents - Ending	$ 4,268	$ 20,334

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 46,276	$ 24,843

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false