Ponce Financial (PDLB) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 06, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	PDLB
Entity Registrant Name	Ponce Financial Group, Inc.
Entity Current Reporting Status	Yes
Entity Central Index Key	0001874071
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		23,829,075
Entity File Number	001-41255
Entity Tax Identification Number	87-1893965
Entity Address, Address Line One	2244 Westchester Avenue
Entity Address, City or Town	Bronx
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10462
City Area Code	718
Local Phone Number	931-9000
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NY
Document Transition Report	false
Document Quarterly Report	true

Consolidated Statements of Fina

Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and due from banks:
Cash	$ 32,061	$ 28,930
Interest-bearing deposits	123,751	110,260
Total cash and cash equivalents	155,812	139,190
Available-for-sale securities, at fair value (Note 3)	111,005	119,902
Held-to-maturity securities, net of allowance for credit losses of $207 at September 30, 2024 and $398 at December 31, 2023; at amortized cost (fair value 2024 $398,823; 2023 $450,042) (Note 3)	403,736	461,748
Placement with banks	249	249
Mortgage loans held for sale, at fair value (Note 4)	9,566	9,980
Loans receivable, net of allowance for credit losses of $23,966 at September 30, 2024 and $26,154 at December 31, 2023 (Note 5)	2,180,331	1,895,886
Accrued interest receivable	16,890	18,010
Premises and equipment, net	16,843	16,053
Right of use assets (Note 6)	29,785	31,272
Federal Home Loan Bank of New York (FHLBNY) stock, at cost	28,515	19,377
Deferred tax assets	11,845	14,332
Other assets	51,392	24,723
Total assets	3,015,969	2,750,722
Liabilities:
Deposits (Note 7)	1,870,323	1,507,620
Operating lease liabilities	31,343	32,684
Accrued interest payable	2,918	11,965
Advance payments by borrowers for taxes and insurance	13,733	10,778
Borrowings (Note 8)	580,421	684,421
Other liabilities	12,642	11,859
Total liabilities	2,511,380	2,259,327
Commitments and contingencies (Note 11)
Stockholders' Equity:
Preferred stock, $0.01 par value; 100,000,000 shares authorized, 225,000 shares issued and outstanding as of September 30, 2024 and as of December 31, 2023.	225,000	225,000
Common stock, $0.01 par value; 200,000,000 shares authorized; 24,886,711 shares issued and 23,819,463 shares outstanding as of September 30, 2024 and 24,886,711 shares issued and 23,785,520 shares outstanding as of December 31, 2023	249	249
Treasury stock, at cost; 1,067,248 shares as of September 30, 2024 and 1,101,191 shares as of December 31, 2023	(9,445)	(9,747)
Additional paid-in-capital	208,478	207,106
Retained earnings	105,103	97,420
Accumulated other comprehensive loss (Note 14)	(12,686)	(15,649)
Unearned compensation - ESOP; 1,335,424 shares as of September 30, 2024 and 1,435,732 shares as of December 31, 2023	(12,110)	(12,984)
Total stockholders' equity	504,589	491,395
Total liabilities and stockholders' equity	$ 3,015,969	$ 2,750,722

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Held-to-maturity securities, at fair value	$ 398,823	$ 450,042
Held-to-maturity securities, allowance for credit losses	207	398
Loans receivable, allowance for credit losses	$ 23,966	$ 26,154
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	225,000	225,000
Preferred stock, shares outstanding	225,000	225,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares, issued	24,886,711	24,886,711
Common stock, shares, outstanding	23,819,463	23,785,520
Treasury stock, common shares	1,067,248	1,101,191
Unearned compensation, ESOP shares	1,335,424	1,435,732

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest and dividend income:
Interest on loans receivable	$ 32,945	$ 25,276	$ 94,890	$ 67,991
Interest on deposits due from banks	2,430	1,969	6,883	3,983
Interest and dividend on securities and FHLBNY stock	5,918	6,261	17,978	18,943
Total interest and dividend income	41,293	33,506	119,751	90,917
Interest expense:
Interest on certificates of deposits	6,926	4,362	19,664	11,468
Interest on other deposits	8,519	5,639	22,448	12,864
Interest on borrowings	6,825	6,963	21,889	18,516
Total interest expense	22,270	16,964	64,001	42,848
Net interest income	19,023	16,542	55,750	48,069
Provision for credit losses (Note 3) (Note 5)	789	535	235	1,348
Net interest income after provision for credit losses	18,234	16,007	55,515	46,721
Non-interest income:
Service charges and fees	508	516	1,473	1,488
Brokerage commissions	0	17	17	67
Late and prepayment charges	77	899	862	2,000
Income on sale of mortgage loans	218	173	794	354
Grant income	0	3,718	0	3,718
Other	348	304	1,970	1,311
Total non-interest income	1,151	5,627	5,116	8,938
Non-interest expense:
Compensation and benefits	7,674	7,566	23,242	22,437
Occupancy and equipment	3,786	3,588	11,017	10,882
Data processing expenses	1,099	1,582	3,239	3,982
Direct loan expenses	573	369	1,938	1,126
(Benefit) provision for contingencies	(252)	391	(581)	1,893
Insurance and surety bond premiums	292	255	808	768
Office supplies, telephone and postage	222	301	704	1,189
Professional fees	1,351	1,693	4,443	5,052
Microloans recoveries (Note 5)	(54)	(69)	(172)	(1,329)
Marketing and promotional expenses	180	248	425	679
Directors' fees and regulatory assessment	178	169	533	484
Other operating expenses	1,265	1,223	3,815	3,603
Total non-interest expense	16,314	17,316	49,411	50,766
Income before income taxes	3,071	4,318	11,220	4,893
Provision for income taxes	638	1,728	3,181	2,059
Net income	2,433	2,590	8,039	2,834
Dividends on preferred shares	281	0	356	0
Net income available to common stockholders	$ 2,152	$ 2,590	$ 7,683	$ 2,834
Earnings per common share (Note 10):
Basic	$ 0.1	$ 0.12	$ 0.34	$ 0.12
Diluted	$ 0.1	$ 0.12	$ 0.34	$ 0.12
Weighted average common shares outstanding (Note 10):
Basic	22,446,009	22,272,076	22,403,258	22,920,680
Diluted	22,612,028	22,349,217	22,466,178	22,962,956

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 2,433	$ 2,590	$ 8,039	$ 2,834
Net change in unrealized gain (losses) on securities:
Unrealized gain (losses)	4,912	(3,644)	3,758	(3,364)
Income (tax) benefit effect	(1,041)	773	(795)	756
Total other comprehensive income (loss), net of tax	3,871	(2,871)	2,963	(2,608)
Total comprehensive income (loss)	6,304	(281)	11,002	226
Less: Dividends on preferred shares	281	0	356	0
Total comprehensive income (loss) available to common stockholders	$ 6,023	$ (281)	$ 10,646	$ 226

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Treasury Stock, At Cost	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Unallocated Common Stock of ESOP
Balance at Dec. 31, 2022	$ 492,700	$ 225,000	$ 249	$ (2)	$ 206,508	$ 92,955	$ (17,860)	$ (14,150)
Balance, Shares at Dec. 31, 2022		225,000	24,859,353
Net Income (Loss)	331					331
Other comprehensive income (loss), net of tax	1,231						1,231
Impact of CECL adoption, net of tax	1,113					1,113
Release of restricted stock units, shares			4,147
ESOP shares committed to be released	262				(29)			291
Share-based compensation	404				404
Balance at Mar. 31, 2023	496,041	$ 225,000	$ 249	(2)	206,883	94,399	(16,629)	(13,859)
Balance, Shares at Mar. 31, 2023		225,000	24,863,500
Balance at Dec. 31, 2022	492,700	$ 225,000	$ 249	(2)	206,508	92,955	(17,860)	(14,150)
Balance, Shares at Dec. 31, 2022		225,000	24,859,353
Net Income (Loss)	2,834
Balance at Sep. 30, 2023	485,058	$ 225,000	$ 249	(10,975)	207,626	96,902	(20,468)	(13,276)
Balance, Shares at Sep. 30, 2023		225,000	23,653,600
Balance at Mar. 31, 2023	496,041	$ 225,000	$ 249	(2)	206,883	94,399	(16,629)	(13,859)
Balance, Shares at Mar. 31, 2023		225,000	24,863,500
Net Income (Loss)	(87)					(87)
Other comprehensive income (loss), net of tax	(968)						(968)
Repurchases of common stock	(5,200)			(5,200)
Repurchases of common stock, Shares			(615,948)
Release of restricted stock units, shares			21,235
ESOP shares committed to be released	292							292
Share-based compensation	404				404
Balance at Jun. 30, 2023	490,482	$ 225,000	$ 249	(5,202)	207,287	94,312	(17,597)	(13,567)
Balance, Shares at Jun. 30, 2023		225,000	24,268,787
Net Income (Loss)	2,590					2,590
Other comprehensive income (loss), net of tax	(2,871)						(2,871)
Repurchases of common stock	(5,809)			(5,809)
Repurchases of common stock, Shares			(619,052)
Release of restricted stock units				36	(36)
Release of restricted stock units, shares			3,865
ESOP shares committed to be released	261				(30)			291
Share-based compensation	405				405
Balance at Sep. 30, 2023	485,058	$ 225,000	$ 249	(10,975)	207,626	96,902	(20,468)	(13,276)
Balance, Shares at Sep. 30, 2023		225,000	23,653,600
Balance at Dec. 31, 2023	491,395	$ 225,000	$ 249	(9,747)	207,106	97,420	(15,649)	(12,984)
Balance, Shares at Dec. 31, 2023		225,000	23,785,520
Net Income (Loss)	2,414					2,414
Other comprehensive income (loss), net of tax	(941)						(941)
Release of restricted stock units				45	(45)
Release of restricted stock units, shares			4,977
ESOP shares committed to be released	297				6			291
Share-based compensation	517				517
Balance at Mar. 31, 2024	493,682	$ 225,000	$ 249	(9,702)	207,584	99,834	(16,590)	(12,693)
Balance, Shares at Mar. 31, 2024		225,000	23,790,497
Balance at Dec. 31, 2023	491,395	$ 225,000	$ 249	(9,747)	207,106	97,420	(15,649)	(12,984)
Balance, Shares at Dec. 31, 2023		225,000	23,785,520
Net Income (Loss)	8,039
Balance at Sep. 30, 2024	504,589	$ 225,000	$ 249	(9,445)	208,478	105,103	(12,686)	(12,110)
Balance, Shares at Sep. 30, 2024		225,000	23,819,463
Balance at Mar. 31, 2024	493,682	$ 225,000	$ 249	(9,702)	207,584	99,834	(16,590)	(12,693)
Balance, Shares at Mar. 31, 2024		225,000	23,790,497
Net Income (Loss)	3,192					3,192
Preferred Stock Dividend	(75)					(75)
Other comprehensive income (loss), net of tax	33						33
Release of restricted stock units				183	(183)
Release of restricted stock units, shares			21,235
ESOP shares committed to be released	306				14			292
Share-based compensation	519				519
Balance at Jun. 30, 2024	497,657	$ 225,000	$ 249	(9,519)	207,934	102,951	(16,557)	(12,401)
Balance, Shares at Jun. 30, 2024		225,000	23,811,732
Net Income (Loss)	2,433					2,433
Preferred Stock Dividend	(281)					(281)
Other comprehensive income (loss), net of tax	3,871						3,871
Release of restricted stock units				74	(74)
Release of restricted stock units, shares			7,731
ESOP shares committed to be released	390				99			291
Share-based compensation	519				519
Balance at Sep. 30, 2024	$ 504,589	$ 225,000	$ 249	$ (9,445)	$ 208,478	$ 105,103	$ (12,686)	$ (12,110)
Balance, Shares at Sep. 30, 2024		225,000	23,819,463

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Number of ESOP shares committed to be released	33,436	33,436	33,436	33,436	33,436	33,436

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows From Operating Activities:
Net income	$ 8,039	$ 2,834
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Amortization of premiums/discounts on securities, net	(82)	(90)
Gain on sale of loans	(794)	(277)
Provision for credit losses	235	1,348
Depreciation and amortization	3,484	3,249
ESOP compensation expense	1,028	815
Share-based compensation expense	1,555	1,213
Deferred income taxes	1,691	909
Changes in assets and liabilities:
Decrease (increase) in mortgage loans held for sale, fair value	2,032	(9,972)
(Decrease) increase in accrued interest receivable	1,120	(1,575)
Increase in other assets	(26,669)	(2,298)
(Decrease) increase in accrued interest payable	(9,047)	6,995
Decrease in operating lease liabilities	(1,897)	(1,646)
Increase in advance payments by borrowers	2,955	4,019
Increase in other liabilities	695	1,825
Net cash (used in) provided by operating activities	(15,655)	7,349
Cash Flows From Investing Activities:
Net purchase and redemption of FHLBNY stock	(9,123)	5,781
Proceeds from maturities, calls and principal repayments on securities	70,940	48,586
Placements with banks		498
Net increase in loans	(279,739)	(294,628)
Purchase of loans	(5,956)
Purchases of premises and equipment	(2,242)	(370)
Net cash used in investing activities	(226,120)	(240,133)
Cash Flows From Financing Activities:
Net increase in deposits	362,703	148,720
Repurchase of treasury stock		(11,009)
Net (repayments) proceeds from borrowings	(104,000)	157,725
Dividends paid on preferred stock	(306)
Net cash provided by financing activities	258,397	295,436
Net increase in cash and cash equivalents	16,622	62,652
Cash and Cash Equivalents:
Cash and cash equivalents at beginning of period	139,190	54,360
Cash and cash equivalents at end of period	155,812	117,012
Supplemental disclosures of cash flow information:
Cash paid for interest on deposits and borrowings	73,048	35,853
Cash paid for income taxes	1,363	489
Supplemental Disclosures of Noncash Investing Activities:
Transferred from loans receivable to mortgage loans held for sale, at fair value	$ 824	$ 6,720

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,433	$ 3,192	$ 2,414	$ 2,590	$ (87)	$ 331	$ 8,039	$ 2,834

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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

Nature of Business

Nature of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Note 1. Nature of Business Basis of Presentation and Consolidation: Ponce Financial Group, Inc. (hereafter referred to as “we,” “our,” “us,” “Ponce Financial Group, Inc.,” or the “Company”) is the holding company of Ponce Bank (“Ponce Bank” or the “Bank”), a federally chartered stock savings association. The Company’s Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiary Ponce Bank (the “Bank”) and the Bank’s wholly-owned subsidiary, Ponce De Leon Mortgage Corp., which is a mortgage banking entity. All significant intercompany transactions and balances have been eliminated in consolidation. For further information, refer to the audited Consolidated Financial Statements and Notes included in the Company' Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 19, 2024 (the "2023 Form 10-K"). Reclassification of Prior Periods Presentation : Certain prior periods amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reporting results of operations and did not affect previously reported amounts in the Consolidated Statements of Operations. Refer to Deposits (Note 7) for the Three and Nine Months Ended September 30, 2023 for details on the reclassification. Recent Accounting Pronouncements Not Yet Adopted: In November 2023, FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendments in this ASU require improved reportable segment information on an annual and interim basis, primarily through enhanced disclosures about significant segment expenses. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2023, and interim periods for fiscal years beginning after December 15, 2024. Early adoptions is permitted. The Company does not expect this standard to have an impact on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, "Improvements to Income Tax Disclosures (Topic 740) . " The amendment to this update addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This update also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments in this update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40)." The amendments improve the disclosures about a public business entity's expenses and address requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly present expense captions (such as costs of sales and research and development). The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. We are currently evaluating the impact these changes may have on our consolidated financial statements.

Preferred Stock

Preferred Stock	9 Months Ended
	Sep. 30, 2024
Preferred Stock [Abstract]
Preferred Stock	Note 2. Preferred Stock Preferred Stock On June 7, 2022, the Company‎ closed a private placement (the “Private Placement”) of 225,000 shares of the Company’s Senior Non-Cumulative Perpetual Preferred Stock, Series A‎, par value $ 0.01 (the “Preferred Stock”) for an aggregate purchase price equal to $ 225.0 million in cash, to the United States Department of the Treasury (the “Treasury”) pursuant to the Emergency Capital Investment Program (“ECIP”).‎ The holders of the Preferred Stock will be entitled to a dividend payable in cash quarterly at an annual rate dependent on certain factors as reported by the Company to Treasury in a quarterly supplemental report. The initial dividend rate is zero percent for the first two years after issuance, and thereafter the floor dividend rate is 0.50 % and the ceiling dividend rate is 2.00 %, based on achievement of certain qualified lending targets. After 10 years of issuance, the perpetual dividend rate in effect, will be determined based on said floor and ceiling. The Company began paying dividends on its Preferred Stock during the quarter ended June 30, 2024, as required by the terms thereof. The Company paid and accrued dividends on its preferred stock in the amount of $ 0.3 million and $ 0.4 million for the three and nine months ended September 30, 2024. The Bank exceeded the dividend rate reduction threshold for qualified lending targets designated by the U.S. Treasury Department pursuant to the ECIP. The Bank's “qualified lending” as measured pursuant to ECIP totaled $ 1.162 billion from June 8, 2023 through March 31, 2024. This reduces the dividend obligation on the Preferred Stock to 0.50 % for the quarterly dividends payable through June 15, 2025. The ECIP investment by the Treasury is part of a program to invest over $ 8.7 billion into Community Development Financial Institution (“CDFI”) or ‎Minority Depository Institution (“MDI”), of which Ponce Bank is both. The ECIP is intended to incentivize CDFIs and MDIs to provide loans, grants, ‎and forbearance to small businesses, minority-owned businesses, and consumers in low-income and underserved communities that may have been ‎disproportionately impacted by the economic effects of the COVID-19 pandemic.‎ In the event of a liquidation, dissolution or winding up of the Company, the Preferred Stock will be entitled to a liquidation preference, subject to certain limitations, in the amount of the sum of $ 1,000 per share plus declared and unpaid dividends (without accumulation of undeclared dividends) on each share.

Securities

Securities	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Securities	Note 3. Securities The amortized cost, gross unrealized gains and losses, and fair value of securities at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, 2024 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,993 $ — $ ( 124 ) $ 2,869 Corporate Bonds 21,766 — ( 1,438 ) 20,328 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 35,620 — ( 4,976 ) 30,644 FHLMC Certificates 9,310 — ( 1,119 ) 8,191 FNMA Certificates 57,345 — ( 8,463 ) 48,882 GNMA Certificates 91 — — 91 Total available-for-sale securities $ 127,125 $ — $ ( 16,120 ) $ 111,005 Held-to-Maturity Securities: U.S. Agency Bonds $ 25,000 $ — $ ( 49 ) $ 24,951 Corporate Bonds 57,500 — ( 618 ) 56,882 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 193,440 454 ( 2,946 ) 190,948 FHLMC Certificates 3,441 — ( 169 ) 3,272 FNMA Certificates 108,577 22 ( 1,967 ) 106,632 SBA Certificates 15,985 153 — 16,138 Allowance for Credit Losses ( 207 ) — — — Total held-to-maturity securities $ 403,736 $ 629 $ ( 5,749 ) $ 398,823 (1) Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. December 31, 2023 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,990 $ — $ ( 206 ) $ 2,784 Corporate Bonds 25,790 — ( 2,122 ) 23,668 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 39,375 — ( 6,227 ) 33,148 FHLMC Certificates 10,163 — ( 1,482 ) 8,681 FNMA Certificates 61,359 — ( 9,842 ) 51,517 GNMA Certificates 104 — — 104 Total available-for-sale securities $ 139,781 $ — $ ( 19,879 ) $ 119,902 Held-to-Maturity Securities: U.S. Agency Bonds $ 25,000 $ — $ ( 181 ) $ 24,819 Corporate Bonds 82,500 — ( 2,691 ) 79,809 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 212,093 104 ( 5,170 ) 207,027 FHLMC Certificates 3,897 — ( 244 ) 3,653 FNMA Certificates 118,944 — ( 4,088 ) 114,856 SBA Certificates 19,712 166 — 19,878 Allowance for Credit Losses ( 398 ) — — — Total held-to-maturity securities $ 461,748 $ 270 $ ( 12,374 ) $ 450,042 (1) Comprised of FHLMC, FNMA and GNMA issued securities. The Company’s securities portfolio had 39 and 40 available-for-sale securities and 32 and 33 held-to-maturity securities at September 30, 2024 and December 31, 2023 , respectively. There were no available-for-sale and held-to-maturity securities sold during the nine months ended September 30, 2024 and for the year ended December 31, 2023. There was one available-for-sale security in the amount of $ 4.0 million and one held-to-maturity security in the amount of $ 25.0 million that matured and/or were called during the nine months ended September 30, 2024. One held-to-maturity security in the amount of $ 10.0 million matured and/or was called during the year ended December 31, 2023. The Company did no t purchase any available-for-sale securities and held-to-maturity securities during the nine months ended September 30, 2024 and during the year ended December 31, 2023. The following table presents the Company's gross unrealized losses and fair values of its securities, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at September 30, 2024 and December 31, 2023: September 30, 2024 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,869 $ ( 124 ) $ 2,869 $ ( 124 ) Corporate Bonds — — 20,328 ( 1,438 ) 20,328 ( 1,438 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 30,644 ( 4,976 ) 30,644 ( 4,976 ) FHLMC Certificates — — 8,191 ( 1,119 ) 8,191 ( 1,119 ) FNMA Certificates — — 48,882 ( 8,463 ) 48,882 ( 8,463 ) Total available-for-sale securities $ — $ — $ 110,914 $ ( 16,120 ) $ 110,914 $ ( 16,120 ) Held-to-Maturity Securities: U.S. Agency Bonds $ — $ — $ 24,951 $ ( 49 ) $ 24,951 $ ( 49 ) Corporate Bonds — — 56,882 ( 618 ) 56,882 ( 618 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 104,328 ( 2,946 ) 104,328 ( 2,946 ) FHLMC Certificates — — 3,272 ( 169 ) 3,272 ( 169 ) FNMA Certificates — — 101,622 ( 1,967 ) 101,622 ( 1,967 ) Total held-to-maturity securities $ — $ — $ 291,055 $ ( 5,749 ) $ 291,055 $ ( 5,749 ) December 31, 2023 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,784 $ ( 206 ) $ 2,784 $ ( 206 ) Corporate Bonds — — 23,668 ( 2,122 ) 23,668 ( 2,122 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 33,148 ( 6,227 ) 33,148 ( 6,227 ) FHLMC Certificates — — 8,681 ( 1,482 ) 8,681 ( 1,482 ) FNMA Certificates — — 51,517 ( 9,842 ) 51,517 ( 9,842 ) GNMA Certificates — — — — — — Total available-for-sale securities $ — $ — $ 119,798 $ ( 19,879 ) $ 119,798 $ ( 19,879 ) Held-to-Maturity Securities: U.S. Agency Bonds $ — $ — $ 24,819 $ ( 181 ) $ 24,819 $ ( 181 ) Corporate Bonds 3,288 ( 212 ) 76,521 ( 2,479 ) 79,809 ( 2,691 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations 81,875 ( 725 ) 112,339 ( 4,445 ) 194,214 ( 5,170 ) FHLMC Certificates — — 3,653 ( 244 ) 3,653 ( 244 ) FNMA Certificates — — 114,856 ( 4,088 ) 114,856 ( 4,088 ) Total held-to-maturity securities $ 85,163 $ ( 937 ) $ 332,188 $ ( 11,437 ) $ 417,351 $ ( 12,374 ) At September 30, 2024 and December 31, 2023 , the Company had 38 and 40 available-for-sale securities and 24 and 31 held-to-maturity securities at September 30, 2024 and December 31, 2023, respectively, with gross unrealized loss positions. Management reviewed the financial condition of the entities underlying the securities at both September 30, 2024 and December 31, 2023. The unrealized losses related to the Company debt securities were issued by U.S. government-sponsored entities and agencies and corporate bonds. The Company does not believe that the debt securities that were in an unrealized loss position as of September 30, 2024 represents a credit loss impairment. The gross unrealized loss positions related to mortgage-backed securities and other obligations issued by the U.S. government agencies or U.S. government-sponsored enterprises carry the explicit and/or implicit guarantee of the U.S. government and have a long history of zero credit loss. Total gross unrealized losses were primarily attributable to changes in interest rates relative to when the investment securities were purchased and not due to the credit quality of the investment securities. Management reviewed the collectability of the corporate bonds taking into consideration of such factors as the financial condition of the issuers, reported regulatory capital ratios of the issuers, credit ratings, including ratings in effect as of the reporting date. Management believes the unrealized losses on the corporate bonds are primarily attributable to changes in the interest rates and not changes in the credit quality of the issuers of the corporate bonds. The following is a summary of maturities of securities at September 30, 2024 and December 31, 2023. Amounts are shown by contractual maturity. Because borrowers for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table. September 30, 2024 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,993 2,869 More than five years through ten years — — 2,993 2,869 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,000 1,340 More than five years through ten years 19,765 18,988 21,765 20,328 Mortgage-Backed Securities 102,367 87,808 Total available-for-sale securities $ 127,125 $ 111,005 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 25,000 24,951 More than one year through five years — — More than five years through ten years — — 25,000 24,951 Corporate Bonds: Amounts maturing: Three months or less $ 25,000 $ 24,939 More than three months through one year 10,000 9,935 More than one year through five years 15,000 14,988 More than five years through ten years 7,500 7,020 57,500 56,882 Mortgage-Backed Securities 321,443 316,990 Allowance for Credit Losses ( 207 ) — Total held-to-maturity securities $ 403,736 $ 398,823 December 31, 2023 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,990 2,784 More than five years through ten years — — 2,990 2,784 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 4,000 3,863 More than one year through five years 1,000 536 More than five years through ten years 20,790 19,269 25,790 23,668 Mortgage-Backed Securities 111,001 93,450 Total available-for-sale securities $ 139,781 $ 119,902 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 25,000 24,819 More than five years through ten years — — 25,000 24,819 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 25,000 24,650 More than one year through five years 50,000 48,265 More than five years through ten years 7,500 6,894 82,500 79,809 Mortgage-Backed Securities 354,646 345,414 Allowance for Credit Losses ( 398 ) — Total held-to-maturity securities $ 461,748 $ 450,042 At September 30, 2024 , no securities were pledged as collateral for borrowing activities. At December 31, 2023, 26 available-for-sale securities with a fair value totaling $ 93.3 million and 17 held-to-maturity securities with an amortized cost totaling $ 193.3 million were pledged at the Federal Reserve Bank of New York ("FRBNY") as collateral for borrowing activities. The following table presents the activity in the allowance for credit losses for held-to-maturity securities: For the Nine Months Ended For the Year Ended September 30, 2024 December 31, 2023 (in thousands) Allowance for credit losses on securities at beginning of period $ 398 $ — Impact on CECL adoption — 662 Benefit for credit losses ( 191 ) ( 264 ) Allowance for credit losses on securities at end of period $ 207 $ 398 At September 30, 2024 and December 31, 2023, the entire allowance for credit losses on securities was allocated to corporate bonds.

Mortgage Loans Held for Sale

Mortgage Loans Held for Sale	9 Months Ended
	Sep. 30, 2024
Receivable, Held-for-Sale [Abstract]
Mortgage Loans Held for Sale	Note 4. Mortgage Loans Held for Sale The following table provides the fair value and contractual principal balance outstanding of loans held for sale accounted for under the fair value options: September 30, December 31, 2024 2023 (in thousands) Mortgage loans held for sale, at fair value $ 9,566 $ 9,980 Mortgage loans held for sale, contractual principal outstanding 9,517 9,864 Fair value less unpaid principal balance $ 49 $ 116 At September 30, 2024 and December 31, 2023, the Company had 15 loans and 19 loans in the amount of $ 9.6 million and $ 10.0 million, respectively, that were classified as held for sale and accounted for under the fair value option accounting guidance for financial assets and financial liabilities. At September 30, 2024 and December 31, 2023, there were $ 5.2 million and $ 4.4 million, respectively, in loans held for sale that were greater than 90 days past due and non-accrual with a substandard risk rating.

Loans Receivable and Allowance

Loans Receivable and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Loans Receivable and Allowance for Credit Losses	Note 5. Loans Receivable and Allowance for Credit Losses Loans receivable at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, December 31, 2024 2023 (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 332,380 $ 343,689 Owner-Occupied 145,065 152,311 Multifamily residential 678,029 550,559 Nonresidential properties 383,277 342,343 Construction and land 631,461 503,925 Total mortgage loans 2,170,212 1,892,827 Nonmortgage loans: Business loans 28,499 19,779 Consumer loans (1) 4,021 8,966 Total non-mortgage loans 32,520 28,745 Total loans, gross 2,202,732 1,921,572 Net deferred loan origination costs 1,565 468 Allowance for Credit Losses ( 23,966 ) ( 26,154 ) Loans receivable, net $ 2,180,331 $ 1,895,886 (1) As of September 30, 2024 and December 31, 2023, consumer loans include $ 3.0 million and $ 8.0 million, respectively, of microloans. The Company’s lending activities are conducted principally in metropolitan New York City. The Company primarily grants loans secured by real estate to individuals and businesses pursuant to an established credit policy applicable to each type of lending activity in which it engages. Although collateral provides assurance as a secondary source of repayment, the Company ordinarily requires the primary source of repayment to be based on the borrowers’ ability to generate continuing cash flows. The Company also evaluates the collateral and creditworthiness of each customer. The credit policy provides that depending on the borrowers’ creditworthiness and type of collateral, credit may be extended up to predetermined percentages of the market value of the collateral or on an unsecured basis. Real estate is the primary form of collateral. Other important forms of collateral are time deposits and marketable securities. For disclosures related to the allowance for credit losses and credit quality, the Company does not have any disaggregated classes of loans below the segment level. Credit-Quality Indicators : Internally assigned risk ratings are used as credit-quality indicators, which are reviewed by management on a quarterly basis. The objectives of the Company’s risk-rating system are to provide the Board of Directors and senior management with an objective assessment of the overall quality of the loan portfolio, to promptly and accurately identify loans with well-defined credit weaknesses so that timely action can be taken to minimize credit loss, to identify relevant trends affecting the collectability of the loan portfolio, to isolate potential problem areas and to provide essential information for determining the adequacy of the allowance for credit losses. Below are the definitions of the internally assigned risk ratings: • Strong Pass – Loans to a new or existing borrower collateralized at least 90 percent by an unimpaired deposit account at the Company. • Good Pass – Loans to a new or existing borrower in a well-established enterprise in excellent financial condition with strong liquidity and a history of consistently high level of earnings, cash flow and debt service capacity. • Satisfactory Pass – Loans to a new or existing borrower of average strength with acceptable financial condition, satisfactory record of earnings and sufficient historical and projected cash flow to service the debt. • Performance Pass – Existing loans that evidence strong payment history but document less than average strength, financial condition, record of earnings, or projected cash flows with which to service the debt. • Special Mention – Loans in this category are currently protected but show one or more potential weaknesses and risks which may inadequately protect collectability or borrower’s ability to meet repayment terms at some future date if the weakness or weaknesses are not monitored or remediated. • Substandard – Loans that are inadequately protected by the repayment capacity of the borrower or the current sound net worth of the collateral pledged, if any. Loans in this category have well defined weaknesses and risks that jeopardize the repayment. They are characterized by the distinct possibility that some loss may be sustained if the deficiencies are not remediated. • Doubtful – Loans that have all the weaknesses of loans classified as “Substandard” with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly questionable and improbable. Loans within the top four categories above are considered pass rated, as commonly defined. Risk ratings are assigned as necessary to differentiate risk within the portfolio. Risk ratings are reviewed on an ongoing basis and revised to reflect changes in the borrowers’ financial condition and outlook, debt service coverage capability, repayment performance, collateral value and coverage as well as other considerations. The following tables present credit risk ratings by loan segment as of September 30, 2024 and December 31, 2023: September 30, 2024 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 464,585 $ 663,943 $ 380,850 $ 619,268 $ 27,238 $ 4,018 $ 2,159,902 Special mention 5,547 8,305 2,415 7,386 1,227 — 24,880 Substandard 7,313 5,781 12 4,807 34 3 17,950 Total $ 477,445 $ 678,029 $ 383,277 $ 631,461 $ 28,499 $ 4,021 $ 2,202,732 December 31, 2023 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 485,747 $ 546,471 $ 339,726 $ 497,266 $ 19,759 $ 8,966 $ 1,897,935 Special mention 2,150 1,109 2,527 — — — 5,786 Substandard 8,103 2,979 90 6,659 20 — 17,851 Total $ 496,000 $ 550,559 $ 342,343 $ 503,925 $ 19,779 $ 8,966 $ 1,921,572 An aging analysis of loans, as of September 30, 2024 and December 31, 2023, is as follows: September 30, 2024 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 329,899 $ — $ 2,045 $ 436 $ 332,380 $ 436 $ — Owner-Occupied 142,777 — 421 1,867 145,065 1,867 — Multifamily residential 664,695 — 8,649 4,685 678,029 4,685 — Nonresidential properties 380,862 — 2,415 — 383,277 — — Construction and land 623,474 — 3,180 4,807 631,461 4,807 — Nonmortgage loans: Business 27,650 222 447 180 28,499 180 — Consumer 3,482 263 276 — 4,021 — — Total $ 2,172,839 $ 485 $ 17,433 $ 11,975 $ 2,202,732 $ 11,975 $ — December 31, 2023 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 342,896 $ — $ — $ 793 $ 343,689 $ 793 $ — Owner-Occupied 150,181 — — 2,130 152,311 2,130 — Multifamily residential 546,471 1,109 — 2,979 550,559 2,979 — Nonresidential properties 342,343 — — — 342,343 — — Construction and land 497,266 — — 6,659 503,925 6,659 — Nonmortgage loans: Business 19,240 366 8 165 19,779 165 — Consumer 7,423 536 1,007 — 8,966 — — Total $ 1,905,820 $ 2,011 $ 1,015 $ 12,726 $ 1,921,572 $ 12,726 $ — The following schedules detail the composition of the allowance for credit losses on loans and the related recorded investment in loans as of and for the three and nine months ended September 30, 2024 and 2023, and as of and for the year ended December 31, 2023: For the Nine Months Ended September 30, 2024 Mortgage Loans Nonmortgage Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for Credit Losses: Balance, beginning of period $ 4,415 $ 2,012 $ 4,365 $ 3,176 $ 4,807 $ 531 $ 6,848 $ 26,154 Provision (benefit) charged to expense ( 227 ) ( 185 ) 302 ( 35 ) 2,010 683 ( 2,122 ) 426 Charge-offs — — — ( 7 ) — ( 502 ) ( 2,683 ) ( 3,192 ) Recoveries — — — — — 9 569 578 Balance, end of period $ 4,188 $ 1,827 $ 4,667 $ 3,134 $ 6,817 $ 721 $ 2,612 $ 23,966 Ending balance: individually $ — $ — $ — $ — $ — $ 180 $ — $ 180 Ending balance: collectively 4,188 1,827 4,667 3,134 6,817 541 2,612 23,786 Total $ 4,188 $ 1,827 $ 4,667 $ 3,134 $ 6,817 $ 721 $ 2,612 $ 23,966 Loans: Ending balance: individually $ 436 $ 1,867 $ 4,685 $ — $ 4,807 $ 180 $ — $ 11,975 Ending balance: collectively 331,944 143,198 673,344 383,277 626,654 28,319 4,021 2,190,757 Total $ 332,380 $ 145,065 $ 678,029 $ 383,277 $ 631,461 $ 28,499 $ 4,021 $ 2,202,732 For the Three Months Ended September 30, 2024 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 4,188 $ 1,946 $ 4,185 $ 2,297 $ 6,796 $ 987 $ 3,662 $ 24,061 Provision (benefit) charged to expense — ( 119 ) 482 844 21 183 ( 610 ) 801 Losses charged-off — — — ( 7 ) — ( 450 ) ( 634 ) ( 1,091 ) Recoveries — — — — — 1 194 195 Balance, end of period $ 4,188 $ 1,827 $ 4,667 $ 3,134 $ 6,817 $ 721 $ 2,612 $ 23,966 For the Nine Months Ended September 30, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Provision (benefit) charged to expense 33 257 653 ( 20 ) 2,276 193 ( 2,029 ) 1,363 Impact of CECL adoption 766 146 ( 3,962 ) 578 ( 911 ) 236 57 ( 3,090 ) Charge-offs — — — — — — ( 6,092 ) ( 6,092 ) Recoveries — — — — — 3 638 641 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Ending balance: individually $ — $ 71 $ — $ — $ — $ 204 $ — $ 275 Ending balance: collectively 4,662 2,055 4,712 3,282 4,048 348 8,032 27,139 Total $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Loans: Ending balance: individually $ 396 $ 2,134 $ — $ — $ 6,657 $ 209 $ — $ 9,396 Ending balance: collectively 346,686 149,732 553,694 321,472 404,726 18,207 10,416 1,804,933 Total $ 347,082 $ 151,866 $ 553,694 $ 321,472 $ 411,383 $ 18,416 $ 10,416 $ 1,814,329 For the Three Months Ended September 30, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer Total (in thousands) Allowance for loan losses: Balance, beginning of period $ 4,776 $ 2,152 $ 4,738 $ 3,238 $ 3,189 $ 450 $ 9,630 $ 28,173 Provision (benefit) charged to expense ( 114 ) ( 26 ) ( 26 ) 44 859 99 ( 86 ) 750 Losses charged-off — — — — — — ( 1,592 ) ( 1,592 ) Recoveries — — — — — 3 80 83 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 For the Year Ended December 31, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of year $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Provision (benefit) charged to expense ( 214 ) 143 306 ( 126 ) 3,035 235 ( 2,142 ) 1,237 Impact of CECL adoption 766 146 ( 3,962 ) 578 ( 911 ) 236 57 ( 3,090 ) Charge-offs — — — — — ( 63 ) ( 7,227 ) ( 7,290 ) Recoveries — — — — — 3 702 705 Balance, end of year $ 4,415 $ 2,012 $ 4,365 $ 3,176 $ 4,807 $ 531 $ 6,848 $ 26,154 Ending balance: individually $ — $ 72 $ — $ — $ — $ 161 $ — $ 233 Ending balance: collectively 4,415 1,940 4,365 3,176 4,807 370 6,848 25,921 Total $ 4,415 $ 2,012 $ 4,365 $ 3,176 $ 4,807 $ 531 $ 6,848 $ 26,154 Loans: Ending balance: individually $ 793 $ 2,130 $ 2,979 $ — $ 6,659 $ 165 $ — $ 12,726 Ending balance: collectively 342,896 150,181 547,580 342,343 497,266 19,614 8,966 1,908,846 Total $ 343,689 $ 152,311 $ 550,559 $ 342,343 $ 503,925 $ 19,779 $ 8,966 $ 1,921,572 Loans are considered impaired when current information and events indicate all amounts due may not be collectable according to the contractual terms of the related loan agreements. Impaired loans are identified by applying normal loan review procedures in accordance with the allowance for credit losses methodology. Management periodically assesses loans to determine whether impairment exists. Any loan that is, or will potentially be, no longer performing in accordance with the terms of the original loan contract is evaluated to determine impairment. The following information relates to impaired loans as of and for the nine months ended September 30, 2024 and 2023 and as of and for the year ended December 31, 2023: Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,284 $ 2,303 $ — $ 2,303 $ — $ 2,452 $ 19 Multifamily residential 4,603 4,685 — 4,685 — 4,379 5 Nonresidential properties — — — — — 317 — Construction and land 4,807 4,807 — 4,807 — 5,612 1,059 Nonmortgage loans: Business 180 — 180 180 180 222 2 Consumer — — — — — — — Total $ 11,874 $ 11,795 $ 180 $ 11,975 $ 180 $ 12,982 $ 1,085 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,517 $ 2,081 $ 449 $ 2,530 $ 71 $ 6,478 $ 40 Multifamily residential — — — — — 958 — Nonresidential properties — — — — — 531 — Construction and land 6,650 6,657 — 6,657 — 8,438 — Nonmortgage loans: Business 209 — 209 209 204 83 — Consumer — — — — — — — Total $ 9,376 $ 8,738 $ 658 $ 9,396 $ 275 $ 16,488 $ 40 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and for the Year Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,906 $ 2,475 $ 448 $ 2,923 $ 72 $ 4,812 $ 82 Multifamily residential 2,966 2,979 — 2,979 — 1,463 151 Nonresidential properties — — — — — 198 — Construction and land 6,650 6,659 — 6,659 — 8,211 — Nonmortgage loans: Business 165 — 165 165 161 104 — Consumer — — — — — — — Total $ 12,687 $ 12,113 $ 613 $ 12,726 $ 233 $ 14,788 $ 233 The Company adopted Accounting Standards Update (“ASU”) 2022-02 on January 1, 2023 . Since adoption, the Company modified one loan with borrowers experiencing financial difficulty. These modifications may include a reduction in interest rate, an extension in term, principal forgiveness and/or other than insignificant payment delay. At September 30, 2024 , there was one loan with modifications to borrowers experiencing financial difficulty. At December 31, 2023, there were no loans with modifications to borrowers experiencing financial difficulty. Prior to the adoption of ASU 2022-02 on January 1, 2023, the Company classified certain loans as troubled debt restructuring (“TDR”) loans when credit terms to a borrower in financial difficulty were modified, in accordance with ASC 310-40. With the adoption of ASU 2022-02 as of January 1, 2023, the Company has ceased to recognize or measure for new TDRs but those existing at December 31, 2022 will remain until settled. At September 30, 2024 and December 31, 2023, there were 19 and 21 troubled debt restructured loans totaling $ 5.3 million and $ 5.9 million of which $ 4.6 million and $ 5.2 million are on accrual status, respectively. There were no commitments to lend additional funds to borrowers whose loans have been modified in a troubled debt restructuring. At September 30, 2024, there was one loan in the amount of $ 0.2 million that was modified to a borrower experiencing financial difficulties. At December 31, 2023, there were no modifications to borrowers experiencing financial difficulties. Write-off and write-down of Microloans In 2020, the Company entered into a business arrangement with the FinTech startup company Grain Technologies, Inc. ("Grain"). Grain’s product is a mobile application geared to the underbanked, minorities and new generations entering the financial services market. In employing this mobile application, the Bank uses non-traditional underwriting methodologies to provide revolving credit to borrowers who otherwise may gravitate to using alternative non-bank lenders. Under the terms of its former agreement with Grain, the Bank was the lender for Grain-originated microloans with credit lines currently up to $ 1,500 and, where applicable, the depository for related security deposits. Grain originated and serviced these microloans and is responsible for maintaining compliance with the Bank's origination and servicing standards, as well as applicable regulatory and legal requirements. If a microloan was found to be fraudulent, became 90 days delinquent upon 90 days of origination or defaulted due to a failure of Grain to properly service the microloan, the Bank’s applicable standards for origination or servicing were deemed to have not been complied with and the microloan was put back to Grain, who then became responsible for the microloan and any related losses. The microloans put back to Grain were accounted for as an “other asset,” specifically referred to herein as the “Grain Receivable.” On November 1, 2023, Ponce Financial Group, Inc. and Grain signed a Perpetual Software License Agreement in order for the Bank to assume the servicing of the remaining microloans. In order to facilitate the transfer of the servicing responsibilities to the Bank, Grain granted the Bank a perpetual right and license to use the Grain software, including the source code to service the remaining loans. At September 30, 2024 , the Bank had 8,428 microloans outstanding with an aggregate balance totaling $ 3.0 million and which were performing, in management’s opinion, comparably to similar portfolios, offset by an $ 2.6 million allowance for credit losses, resulting in $ 0.5 million in microloans. From inception of the microloan arrangement through September 30, 2024 , 45,322 microloans amounting to $ 24.0 million have been deemed to be fraudulent and put back to Grain. The Company has written-down a total of $ 15.3 million, net of recoveries, of the microloans receivable and received $ 6.8 million in cash. The Bank also opted to use the $ 1.8 million grant it received from the U.S. Treasury Department’s Rapid Response ‎Program to defray the microloans receivable. The application of those amounts resulted in no net receivable. Additionally, the Company wrote-off its equity investment in Grain of $ 1.0 million during the year ended December 31, 2022. As of September 30, 2024 , the Company’s total microloans exposure was $ 0.5 million of the remaining microloans, net of allowance for credit losses, excluding $ 1.5 million of security deposits by microloan borrowers. The $ 0.2 million of recoveries for the nine months ended September 30, 2024 and the $ 1.3 million recoveries for the nine months ended September 30, 2023 related to microloans is included in non-interest expense in the accompanying Consolidated Statements of Operations. Total Microloans Exposure as of September 30, 2024 (in thousands) Microloans Receivable from Grain Microloans originated - put back (inception-to-September 30, 2024) $ 23,932 Write-downs, net of recoveries (inception-to-date as of September 30, 2024) ( 15,287 ) Cash receipts (inception-to-September 30, 2024) ( 6,819 ) Grant/reserve (inception-to-September 30, 2024) ( 1,826 ) Net receivable as of September 30, 2024 $ — Microloans Receivable from Borrowers Microloans receivable as of September 30, 2024 $ 3,033 Allowance for credit losses as of September 30, 2024 (1) ( 2,570 ) Microloans, net of allowance for credit losses as of September 30, 2024 $ 463 Investments Investment in Grain $ 1,000 Investment write-off in the third quarter of 2022 ( 1,000 ) Net investment as of September 30, 2024 $ — Total exposure related to microloans as of September 30, 2024 (2) $ 463 (1) Excludes $ 1.5 million of security deposits by microloan borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions. (2) Total remaining exposure to microloan borrowers. These loans are now serviced by the Bank. Off-Balance Sheet Credit Losses Also included within the scope of the CECL standard are off-balance sheet loan commitments, which includes the unfunded portion of committed lines of credit and construction loans. The Company estimates expected credit losses over the contractual period in which the company is exposed to credit risk through a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet exposures is adjusted as a provision for credit loss expense. The Company uses similar assumptions and risk factors that are developed for collectively evaluated financing receivables. This estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments to be funded over its estimated life. At September 30, 2024 and December 31, 2023, the allowance for off-balance sheet credit losses was $ 3.0 million and $ 3.6 million, respectively, which is included in the "Other liabilities" on the Consolidated Statements of Financial Condition. During the three months ended September 30, 2024 and 2023, the Company had $ 0.3 million in benefit for credit losses and $ 0.4 million in provision for credit losses, respectively, and $ 0.6 million in benefit for credit losses and $ 1.9 million in provision for credit losses for the nine months ended September 30, 2024 and 2023, respectively, for off-balance-sheet items, which are included in "(Benefit) provision for contingencies" on the Consolidated Statements of Operations. The following table presents the activity in the allowance for off-balance-sheet credit losses: For the Nine Months Ended For the Year Ended September 30, 2024 December 31, 2023 (in thousands) Allowance for credit losses on unfunded commitment at beginning of period $ 3,613 $ 354 Impact on CECL adoption — 948 (Benefit) provision for credit losses ( 581 ) 2,311 Allowance for credit losses on unfunded commitment at end of period $ 3,032 $ 3,613

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Note 6. Leases The Company has 17 operating leases for branches and office spaces (including headquarters) and six operating leases for equipment. Our leases have remaining lease terms ranging from less than one year to approximately 14.3 years, none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of lease term. Certain leases have escalation clauses for operating expenses and real estate taxes. The Company’s non-cancelable operating lease agreements expire through 2038 . Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2024 2023 (Dollars in thousands) Operating lease ROU assets $ 29,785 $ 31,272 Operating lease liabilities 31,343 32,684 Weighted-average remaining lease term-operating leases 12.0 years 12.6 years Weighted average discount rate-operating leases 4.9 % 4.9 % The components of lease expense and cash flow information related to leases were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Dollars in thousands) Lease Cost Operating lease cost Occupancy and equipment $ 1,035 $ 1,029 $ 3,082 $ 3,123 Operating lease cost Other operating expenses 2 4 24 14 Short-term lease cost Other operating expenses 7 5 17 15 Variable lease cost Occupancy and equipment 46 32 122 94 Total lease cost $ 1,090 $ 1,070 $ 3,245 $ 3,246 The Company’s minimum annual rental payments under the terms of the leases are as follows at September 30, 2024: Minimum Rental Years ended December 31: (in thousands) Remainder of 2024 $ 981 2025 3,864 2026 3,716 2027 3,561 2028 3,594 Thereafter 25,474 Total Minimum payments required 41,190 Less: implied interest 9,847 Present value of lease liabilities $ 31,343

Deposits

Deposits	9 Months Ended
	Sep. 30, 2024
Banking And Thrifts [Abstract]
Deposits	Note 7. Deposits Deposits at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, December 31, 2024 2023 (in thousands) Demand (1) $ 182,737 $ 185,151 Interest-bearing deposits: NOW/IOLA accounts (1) 71,445 77,909 Money market accounts 660,168 432,735 Reciprocal deposits 94,145 96,860 Savings accounts 108,941 114,139 Total NOW, money market, reciprocal and savings 934,699 721,643 Certificates of deposit of $250K or more 174,053 132,153 Brokered certificates of deposits (2) 94,531 98,729 Listing service deposits (2) 7,376 14,433 Certificates of deposit less than $250K 476,927 355,511 Total certificates of deposit 752,887 600,826 Total interest-bearing deposits 1,687,586 1,322,469 Total deposits $ 1,870,323 $ 1,507,620 (1) As of December 31, 2023, $ 58.2 million were reclassified from demand to NOW/IOLA accounts. (2) As of September 30, 2024 , there were no individual listing service deposits amounting to $ 250,000 or more. As of December 31, 2023, there were $ 0.3 million in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 . At September 30, 2024 scheduled maturities of certificates of deposit were as follows: (in thousands) 2024 $ 329,489 2025 321,575 2026 49,968 2027 46,753 2028 3,219 Thereafter 1,883 $ 752,887 Overdrawn deposit accounts that have been reclassified to loans amounted to $ 0.1 million as of both September 30, 2024 and December 31, 2023 .

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Borrowings	Note 8. Borrowings The Bank had outstanding term advances from the FHLBNY at September 30, 2024 and the FHLBNY and the FRBNY at December 31, 2023 as indicated below. FHLBNY Advances : As a member of the FHLBNY, the Bank has the ability to borrow from the FHLBNY based on a certain percentage of the value of the Bank's qualified collateral, as defined in the FHLBNY Statement of Credit Policy, at the time of the borrowing. In accordance with an agreement with the FHLBNY, the qualified collateral must be free and clear of liens, pledges and encumbrances. The Bank had $ 580.4 million and $ 380.4 million of outstanding term advances from the FHLBNY at September 30, 2024 and December 31, 2023 , respectively. The Bank had no overnight line of credit advance from the FHLBNY at September 30, 2024 and December 31, 2023. FRBNY Advances : The Bank had no term advances outstanding from the FRBNY at September 30, 2024 . The Bank had $ 304.0 million of outstanding term advances from the FRBNY at December 31, 2023. Borrowed funds at September 30, 2024 and December 31, 2023 consist of the following and are summarized by maturity and call date below: September 30, December 31, 2024 2023 Scheduled Redeemable Weighted Scheduled Redeemable Weighted (Dollars in thousands) Term advances ending: 2024 $ 59,321 $ 59,321 4.00 % $ 363,321 $ 363,321 4.55 % 2025 50,000 50,000 4.41 50,000 50,000 4.41 2026 200,000 200,000 4.25 — — — 2027 212,000 212,000 3.44 212,000 212,000 3.44 2028 9,100 9,100 3.84 9,100 9,100 3.84 Thereafter 50,000 50,000 3.35 50,000 50,000 3.35 $ 580,421 $ 580,421 3.86 % $ 684,421 $ 684,421 4.10 % Interest expense on advances totaled $ 6.8 million and $ 7.0 million for the three months ended September 30, 2024 and 2023 and $ 21.9 million and $ 18.5 million for the nine months ended September 30, 2024 and 2023 , respectively.

Derivatives and Hedging

Derivatives and Hedging	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Note 9. Derivatives and Hedging During 2023, the Company entered into two derivative financial instruments contracts to enhance its ability to manage interest rate risk that exist as part of its ongoing operations. The Company manages these risks as part of its asset and liability management process. The Company utilized derivative financial instruments to accommodate the business needs and to hedge the exposure that this creates for the Company. All derivatives are recognized as either assets or liabilities on the balance sheet and are measured at fair value. The Company does not use derivative financial instruments for trading purposes. Interest Rate Swaps The Bank is a party to two interest rate swap transactions designated as fair value hedges. One interest rate swap is for a period of two years effective October 12, 2023 and terminates on November 1, 2025 with a notional amount of $ 150.0 million. The Bank will pay a fixed rate of interest of 4.885 % and receive the Secured Overnight Financing Rate ("SOFR") rate. The other interest rate swap is for a period of three years effective October 12, 2023 and terminates on November 1, 2026 with a notional amount of $ 100.0 million. The Bank will pay a fixed rate of interest of 4.62 % and receive the SOFR rate. The tables present the notional amount and fair value of derivatives designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition. Fair Value Notional Loans Receivable Other Liabilities (in thousands) As of September 30, 2024 Derivatives Designated as Hedging Instruments Interest rate swap contracts $ 250,000 $ 4,352 $ 4,352 Total Derivatives $ 250,000 $ 4,352 $ 4,352 Fair Value Notional Loans Receivable Other Liabilities (in thousands) As of December 31, 2023 Derivatives Designated as Hedging Instruments Interest rate swap contracts $ 250,000 $ 4,435 $ 4,435 Total Derivatives $ 250,000 $ 4,435 $ 4,435

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Earnings Per Share The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 (Dollars in thousands except share data) Net income available to common stockholders $ 2,152 $ 2,590 $ 7,683 $ 2,834 Common shares outstanding for basic EPS: Weighted average common shares outstanding 23,814,505 23,774,317 23,805,066 24,456,108 Less: Weighted average unallocated Employee Stock 1,368,496 1,502,241 1,401,808 1,535,428 Basic weighted average common shares outstanding 22,446,009 22,272,076 22,403,258 22,920,680 Basic earnings per common share $ 0.10 $ 0.12 $ 0.34 $ 0.12 Potential dilutive common shares: Add: Dilutive effect of restricted stock awards and stock options 166,019 77,141 62,920 42,276 Diluted weighted average common shares outstanding 22,612,028 22,349,217 22,466,178 22,962,956 Diluted earnings per common share $ 0.10 $ 0.12 $ 0.34 $ 0.12

Commitments, Contingencies and

Commitments, Contingencies and Credit Risk	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Credit Risk	Note 11. Commitments, Contingencies and Credit Risk Financial Instruments With Off-Balance-Sheet Risk : In the normal course of business, financial instruments with off-balance-sheet risk may be used to meet the financing needs of customers. These financial instruments include commitments to extend credit and letters of credit. These instruments involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized on the Consolidated Statements of Financial Condition. The contractual amounts of these instruments reflect the extent of involvement in particular classes of financial instruments. The contractual amounts of commitments to extend credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer default, and the value of any existing collateral become worthless. The same credit policies are used in making commitments and contractual obligations as for on-balance-sheet instruments. Financial instruments whose contractual amounts represent credit risk at September 30, 2024 and December 31, 2023 are as follows: September 30, December 31, 2024 2023 (in thousands) Commitments to grant mortgage loans $ 427,648 $ 529,768 Unfunded commitments under lines of credit 58,855 61,739 $ 486,503 $ 591,507 Commitments to Grant Mortgage Loans : Commitments to grant mortgage loans are agreements to lend to a customer as long as all terms and conditions are met as established in the contract. Commitments generally have fixed expiration dates or other termination clauses, and may require payment of a fee by the borrower. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management's credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property and equipment, residential real estate and income-producing commercial properties. Material losses are not anticipated as a result of these transactions. Commitments to Sell Loans at Lock-in Rates: In order to assure itself of a marketplace to sell its loans, The Bank has agreements with investors who will commit to purchase loans at locked-in rates. The Bank has off-balance sheet market risk to the extent that the Bank does not obtain matching commitments from these investors to purchase the loans. This will expose the Bank to the lower of cost or market valuation environment. Repurchases, Indemnifications and Premium Recaptures : Loans sold by the Bank under investor programs are subject to repurchase or indemnification if they fail to meet the origination criteria of those programs. In addition, loans sold to investors are also subject to repurchase or indemnifications if the loan is two or three months delinquent during a set period which usually varies from six months to a year after the loan is sold. There are no open repurchase or indemnification requests for loans sold as a correspondent lender or where the Company acted as a broker in the transaction as of September 30, 2024. Unfunded Commitments Under Lines of Credit : Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extension of credit to existing customers. These lines of credit are uncollateralized and usually contain a specified maturity date and, ultimately, may not be drawn upon to the total extent to which the Company is committed. Unfunded Commitments with Oaktree : In December of 2021, the Bank committed to invest $ 5.0 million in Oaktree SBIC Fund, L.P. ("Oaktree"). As of September 30, 2024 , the total unfunded commitment was $ 1.9 million. Unfunded Commitments with Silvergate : In April of 2022, the Company committed to invest $ 5.2 million in EJF Silvergate Ventures Fund LP ("Silvergate"). As of September 30, 2024 , the total unfunded commitment was $ 1.9 million. Letters of Credit : Letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Letters of credit are largely cash secured. Concentration by Geographic Location : Loans, commitments to extend credit and letters of credit have been granted to customers who are located primarily in the New York City metropolitan area. Generally, such loans most often are secured by residential properties. The loans are expected to be repaid from the borrowers' cash flows. Legal Matters : The Company is involved in various legal proceedings which have arisen in the normal course of business. Management believes that resolution of these matters will not have a material effect on the Company’s financial condition or results of operations.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value	Note 12. Fair Value The following fair value hierarchy is used based on the lowest level of input significant to the fair value measurement. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate fair value: Cash and Cash Equivalents, Placement with Banks, Accrued Interest Receivable, Advance Payments by Borrowers for Taxes and Insurance, and Accrued Interest Payable : The carrying amount is a reasonable estimate of fair value. These assets and liabilities are not recorded at fair value on a recurring basis. Available-for-Sale Securities : These financial instruments are recorded at fair value in the consolidated financial statements on a recurring basis. Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using pricing models (e.g., matrix pricing) or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. Examples of such instruments include government agency bonds and mortgage-backed securities. Level 3 securities are securities for which significant unobservable inputs are utilized. There were no changes in valuation techniques used to measure similar assets during the period. FHLBNY Stock : The carrying value of FHLBNY stock approximates fair value since the Bank can redeem such stock with FHLBNY at cost. As a member of the FHLBNY, the Company is required to purchase this stock, which is carried at cost and classified as restricted equity securities. Loans Receivable : For variable rate loans, which reprice frequently and have no significant change in credit risk, carrying values are a reasonable estimate of fair values, adjusted for credit losses inherent in the portfolios. The fair value of fixed rate loans is estimated by discounting the future cash flows using estimated market rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the portfolios. Impaired loans are valued using a present value discounted cash flow method, or the fair value of the collateral. Loans are not recorded at fair value on a recurring basis. Loans Held for Sale : Loans held for sale, at fair value, consists of loans originated for sale by the Bank and accounted for under the fair value option. These assets are valued using stated investor pricing for substantially equivalent loans as Level 2. In determining fair value, such measurements are derived based on observable market data, including whole-loan transaction pricing and similar market transactions adjusted for portfolio composition, servicing value and market conditions. Loans held for sale by the Bank are carried at the lower of cost or fair value as determined by investor bid prices. Under the fair value option, management has elected, on an instrument-by-instrument basis, fair value for substantially all forms of mortgage loans originated for sale on a recurring basis. As of September 30, 2024 , the fair value carrying amount of mortgages held for sale measured under the fair value option was $ 9.6 million and the aggregate unpaid principal amounted to $ 9.5 million. Other Real Estate Owned : Other real estate owned represents real estate acquired through foreclosure, and is recorded at fair value less estimated disposal costs on a nonrecurring basis. Fair value is based upon independent market prices, appraised values of the collateral or management's estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the asset is classified as Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the asset is classified as Level 3. Deposits : The fair values of demand deposits, savings, NOW and money market accounts equal their carrying amounts, which represent the amounts payable on demand at the reporting date. Fair values for fixed-term, fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates on certificates of deposit to a schedule of aggregated expected monthly maturities on such deposits. Deposits are not recorded at fair value on a recurring basis. FHLBNY Advances : The fair value of the advances is estimated using a discounted cash flow calculation that applies current market-based FHLBNY interest rates for advances of similar maturity to a schedule of maturities of such advances. These borrowings are not recorded at fair value on a recurring basis. Derivatives : The Company works directly with a third-party vendor to provide periodic valuations for its interest-rate risk-management agreements to determine fair value of its interest rate swaps executed for interest-rate risk management. The vendor utilizes standard valuation methodologies applicable to interest rate derivatives based on readily observable market data and are therefore considered Level 2 valuations. Off-Balance-Sheet Instruments : Fair values for off-balance-sheet instruments (lending commitments and standby letters of credit) are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standing. Off-balance-sheet instruments are not recorded at fair value on a recurring basis. The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, and indicate the level within the fair value hierarchy utilized to determine the fair value: September 30, 2024 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,869 $ 2,869 $ — $ — Corporate bonds 20,328 — 20,328 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 30,644 — 30,644 — FHLMC Certificates 8,191 — 8,191 — FNMA Certificates 48,882 — 48,882 — GNMA Certificates 91 — 91 — Mortgage Loans Held for Sale, at fair value 9,566 — 9,566 — Interest rate swap 4,352 — 4,352 — $ 124,923 $ 2,869 $ 122,054 $ — December 31, 2023 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,784 $ 2,784 $ — $ — Corporate bonds 23,668 536 23,132 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 33,148 — 33,148 — FHLMC Certificates 8,681 — 8,681 — FNMA Certificates 51,517 — 51,517 — GNMA Certificates 104 — 104 — Mortgage Loans Held for Sale, at fair value 9,980 — 9,980 — Interest rate swap 4,435 — 4,435 — $ 134,317 $ 3,320 $ 130,997 $ — Management’s assessment and classification of an investment within a level can change over time based upon maturity or liquidity of the investment and would be reflected at the beginning of the quarter in which the change occurred. The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of September 30, 2024 and December 31, 2023 and indicate the fair value hierarchy utilized to determine the fair value: September 30, 2024 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 11,975 $ — $ — $ 11,975 December 31, 2023 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 12,726 $ — $ — $ 12,726 Losses on assets carried at fair value on a nonrecurring basis were de minimis for the three and nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024 and December 31, 2023, the carrying values and estimated fair values of the Company's financial instruments were as follows: Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) September 30, 2024 Financial assets: Cash and cash equivalents $ 155,812 $ 155,812 $ — $ — $ 155,812 Available-for-sale securities, at fair value 111,005 2,869 108,136 — 111,005 Held-to-maturity securities, at amortized cost, net 403,736 — 398,823 — 398,823 Placement with banks 249 — 249 — 249 Mortgage loans held for sale, at fair value 9,566 — 9,566 — 9,566 Loans receivable, net 2,180,331 — — 2,153,077 2,153,077 Accrued interest receivable 16,890 — 16,890 — 16,890 FHLBNY stock 28,515 28,515 — — 28,515 Interest rate swap 4,352 — 4,352 — 4,352 Financial liabilities: Deposits: Demand deposits 182,737 182,737 — — 182,737 Interest-bearing deposits 934,699 934,699 — — 934,699 Certificates of deposit 752,887 — 751,665 — 751,665 Advance payments by borrowers for taxes and insurance 13,733 — 13,733 — 13,733 Borrowings 580,421 — 577,809 — 577,809 Interest rate swap 4,352 — 4,352 — 4,352 Accrued interest payable 2,918 — 2,918 — 2,918 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) December 31, 2023 Financial assets: Cash and cash equivalents $ 139,190 $ 139,190 $ — $ — $ 139,190 Available-for-sale securities, at fair value 119,902 3,320 116,582 — 119,902 Held-to-maturity securities, at amortized cost 461,748 — 450,042 — 450,042 Placement with banks 249 — 249 — 249 Mortgage loans held for sale, at fair value 9,980 — 9,980 — 9,980 Loans receivable, net 1,895,886 — — 1,844,507 1,844,507 Accrued interest receivable 18,010 — 18,010 — 18,010 FHLBNY stock 19,377 19,377 — — 19,377 Interest rate swap 4,435 4,435 4,435 Financial liabilities: Deposits: Demand deposits (1) 185,151 185,151 — — 185,151 Interest-bearing deposits (1) 721,643 721,643 — — 721,643 Certificates of deposit 600,826 — 594,234 — 594,234 Advance payments by borrowers for taxes and insurance 10,778 — 10,778 — 10,778 Borrowings 684,421 — 674,155 — 674,155 Interest rate swap 4,435 — 4,435 — 4,435 Accrued interest payable 11,965 — 11,965 — 11,965 (1) A s of December 31, 2023, $ 58.2 million were reclassified from demand deposits to interest-bearing deposits. The Company recognizes transfers between levels of the valuation hierarchy at the end of the applicable reporting periods. There were no transfers of Level 3 assets in the fair value hierarchy at September 30, 2024 and December 31, 2023. Fair value for Level 3 securities was determined using a third-party pricing service with limited levels of activity and price transparency. Off-Balance-Sheet Instruments : Loan commitments on which the committed interest rate is less than the current market rate are insignificant at September 30, 2024 and December 31, 2023. The fair value information about financial instruments are disclosed, whether or not recognized in the consolidated statements of financial condition, for which it is practicable to estimate that value. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The estimated fair value amounts for 2024 and 2023 have been measured as of their respective period-ends and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than amounts reported at each period. The information presented should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only required for a limited portion of the Company's assets and liabilities. Due to the 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 banks may not be meaningful.

Regulatory Capital Requirements

Regulatory Capital Requirements	9 Months Ended
	Sep. 30, 2024
Disclosure Of Regulatory Capital Requirements [Abstract]
Regulatory Capital Requirements	Note 13. Regulatory Capital Requirements The Company and the Bank are subject to various regulatory capital requirements administered by the Federal Reserve Board, the OCC and the U.S. Department of Housing and Urban Development. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s operations and financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company's assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation require the maintenance of minimum amounts and ratios (set forth in the table below) of total risk-based and Tier 1 capital to risk-weighted assets (as defined), common equity Tier 1 capital (as defined), and Tier 1 capital to adjusted total assets (as defined) adjusted total assets (as defined). As of September 30, 2024 and December 31, 2023, the applicable capital adequacy requirements specified below have been met. The below minimum capital requirements exclude the capital conservation buffer required to avoid limitations on capital distributions including dividend payments and certain discretionary bonus payments to executive officers. The applicable capital buffer for the Bank was 13.6 % at September 30, 2024 and 15.3 % at December 31, 2023. The most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and the Bank must maintain minimum total risk-based, common equity risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. There were no conditions or events since then that have changed the Bank's category. The Company's and the Bank’s actual capital amounts and ratios as of September 30, 2024 and December 31, 2023 as compared to regulatory requirements are as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) September 30, 2024 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 544,272 22.87 % $ 190,349 8.00 % $ 237,936 10.00 % Tier 1 Capital to Risk-Weighted Assets 517,274 21.74 % 142,762 6.00 % 190,349 8.00 % Common Equity Tier 1 Capital Ratio 292,274 12.28 % 107,071 4.50 % 154,658 6.50 % Tier 1 Capital to Total Assets 517,274 17.81 % 116,180 4.00 % 145,225 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 505,271 21.61 % $ 187,065 8.00 % $ 233,831 10.00 % Tier 1 Capital to Risk-Weighted Assets 478,273 20.45 % 140,299 6.00 % 187,065 8.00 % Common Equity Tier 1 Capital Ratio 478,273 20.45 % 105,224 4.50 % 151,990 6.50 % Tier 1 Capital to Total Assets 478,273 16.19 % 118,133 4.00 % 147,666 5.00 % To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2023 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 533,513 25.06 % $ 170,302 8.00 % $ 212,878 10.00 % Tier 1 Capital to Risk-Weighted Assets 507,042 23.82 % 127,727 6.00 % 170,302 8.00 % Common Equity Tier 1 Capital Ratio 282,042 13.25 % 95,795 4.50 % 138,371 6.50 % Tier 1 Capital to Total Assets 507,042 19.71 % 102,911 4.00 % 128,639 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 492,622 23.30 % $ 169,153 8.00 % $ 211,441 10.00 % Tier 1 Capital to Risk-Weighted Assets 466,151 22.05 % 126,865 6.00 % 169,153 8.00 % Common Equity Tier 1 Capital Ratio 466,151 22.05 % 95,149 4.50 % 137,437 6.50 % Tier 1 Capital to Total Assets 466,151 17.49 % 106,591 4.00 % 133,239 5.00 % Ponce Bank, through its Mortgage World division, is subject to various net worth requirements in connection with lending agreements that Ponce Bank has entered with purchase facility lenders. Failure to maintain minimum capital requirements could result in the Bank’s Mortgage World division being unable to originate and service loans, and, therefore, could have a direct material effect on the Company’s consolidated financial statements. As of September 30, 2024 and December 31, 2023, the Bank was in compliance with the applicable minimum capital requirements specified above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note 14. Accumulated Other Comprehensive Loss The accumulated other comprehensive loss is as follows: September 30, 2024 December 31, Change September 30, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 15,649 ) $ 2,963 $ ( 12,686 ) Total $ ( 15,649 ) $ 2,963 $ ( 12,686 ) December 31, 2023 December 31, Change December 31, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 17,860 ) $ 2,211 $ ( 15,649 ) Total $ ( 17,860 ) $ 2,211 $ ( 15,649 )

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Transactions with Related Parties	Note 15. Transactions with Related Parties Directors, executive officers and non-executive officers of the Company have been customers of and have had transactions with the Bank, and it is expected that such persons will continue to have such transactions in the future. Aggregate loan transactions with related parties for the three and nine months ended September 30, 2024 and 2023 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 (in thousand) Beginning balance $ 9,303 $ 8,614 $ 8,810 $ 8,318 Originations 248 50 1,840 678 Payments ( 49 ) ( 851 ) ( 1,148 ) ( 1,183 ) Ending balance $ 9,502 $ 7,813 $ 9,502 $ 7,813 The Company held deposits in the amount of $ 9.0 million and $ 8.4 million from directors, executive officers and non-executive officers at September 30, 2024 and December 31, 2023 , respectively.

Nature of Business (Policies)

Nature of Business (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statement Presentation	Basis of Presentation and Consolidation: Ponce Financial Group, Inc. (hereafter referred to as “we,” “our,” “us,” “Ponce Financial Group, Inc.,” or the “Company”) is the holding company of Ponce Bank (“Ponce Bank” or the “Bank”), a federally chartered stock savings association. The Company’s Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiary Ponce Bank (the “Bank”) and the Bank’s wholly-owned subsidiary, Ponce De Leon Mortgage Corp., which is a mortgage banking entity. All significant intercompany transactions and balances have been eliminated in consolidation. For further information, refer to the audited Consolidated Financial Statements and Notes included in the Company' Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 19, 2024 (the "2023 Form 10-K").
Reclassification of Prior Periods Presentation	Reclassification of Prior Periods Presentation : Certain prior periods amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reporting results of operations and did not affect previously reported amounts in the Consolidated Statements of Operations. Refer to Deposits (Note 7) for the Three and Nine Months Ended September 30, 2023 for details on the reclassification.
Recently Accounting Pronouncements Adopted and Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted: In November 2023, FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendments in this ASU require improved reportable segment information on an annual and interim basis, primarily through enhanced disclosures about significant segment expenses. This update will be effective for financial statements issued for fiscal years beginning after December 15, 2023, and interim periods for fiscal years beginning after December 15, 2024. Early adoptions is permitted. The Company does not expect this standard to have an impact on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, "Improvements to Income Tax Disclosures (Topic 740) . " The amendment to this update addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This update also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments in this update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance.

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities	The amortized cost, gross unrealized gains and losses, and fair value of securities at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, 2024 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,993 $ — $ ( 124 ) $ 2,869 Corporate Bonds 21,766 — ( 1,438 ) 20,328 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 35,620 — ( 4,976 ) 30,644 FHLMC Certificates 9,310 — ( 1,119 ) 8,191 FNMA Certificates 57,345 — ( 8,463 ) 48,882 GNMA Certificates 91 — — 91 Total available-for-sale securities $ 127,125 $ — $ ( 16,120 ) $ 111,005 Held-to-Maturity Securities: U.S. Agency Bonds $ 25,000 $ — $ ( 49 ) $ 24,951 Corporate Bonds 57,500 — ( 618 ) 56,882 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 193,440 454 ( 2,946 ) 190,948 FHLMC Certificates 3,441 — ( 169 ) 3,272 FNMA Certificates 108,577 22 ( 1,967 ) 106,632 SBA Certificates 15,985 153 — 16,138 Allowance for Credit Losses ( 207 ) — — — Total held-to-maturity securities $ 403,736 $ 629 $ ( 5,749 ) $ 398,823 (1) Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. December 31, 2023 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,990 $ — $ ( 206 ) $ 2,784 Corporate Bonds 25,790 — ( 2,122 ) 23,668 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 39,375 — ( 6,227 ) 33,148 FHLMC Certificates 10,163 — ( 1,482 ) 8,681 FNMA Certificates 61,359 — ( 9,842 ) 51,517 GNMA Certificates 104 — — 104 Total available-for-sale securities $ 139,781 $ — $ ( 19,879 ) $ 119,902 Held-to-Maturity Securities: U.S. Agency Bonds $ 25,000 $ — $ ( 181 ) $ 24,819 Corporate Bonds 82,500 — ( 2,691 ) 79,809 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 212,093 104 ( 5,170 ) 207,027 FHLMC Certificates 3,897 — ( 244 ) 3,653 FNMA Certificates 118,944 — ( 4,088 ) 114,856 SBA Certificates 19,712 166 — 19,878 Allowance for Credit Losses ( 398 ) — — — Total held-to-maturity securities $ 461,748 $ 270 $ ( 12,374 ) $ 450,042 (1) Comprised of FHLMC, FNMA and GNMA issued securities.
Company's Securities Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized	The following table presents the Company's gross unrealized losses and fair values of its securities, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at September 30, 2024 and December 31, 2023: September 30, 2024 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,869 $ ( 124 ) $ 2,869 $ ( 124 ) Corporate Bonds — — 20,328 ( 1,438 ) 20,328 ( 1,438 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 30,644 ( 4,976 ) 30,644 ( 4,976 ) FHLMC Certificates — — 8,191 ( 1,119 ) 8,191 ( 1,119 ) FNMA Certificates — — 48,882 ( 8,463 ) 48,882 ( 8,463 ) Total available-for-sale securities $ — $ — $ 110,914 $ ( 16,120 ) $ 110,914 $ ( 16,120 ) Held-to-Maturity Securities: U.S. Agency Bonds $ — $ — $ 24,951 $ ( 49 ) $ 24,951 $ ( 49 ) Corporate Bonds — — 56,882 ( 618 ) 56,882 ( 618 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 104,328 ( 2,946 ) 104,328 ( 2,946 ) FHLMC Certificates — — 3,272 ( 169 ) 3,272 ( 169 ) FNMA Certificates — — 101,622 ( 1,967 ) 101,622 ( 1,967 ) Total held-to-maturity securities $ — $ — $ 291,055 $ ( 5,749 ) $ 291,055 $ ( 5,749 ) December 31, 2023 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,784 $ ( 206 ) $ 2,784 $ ( 206 ) Corporate Bonds — — 23,668 ( 2,122 ) 23,668 ( 2,122 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 33,148 ( 6,227 ) 33,148 ( 6,227 ) FHLMC Certificates — — 8,681 ( 1,482 ) 8,681 ( 1,482 ) FNMA Certificates — — 51,517 ( 9,842 ) 51,517 ( 9,842 ) GNMA Certificates — — — — — — Total available-for-sale securities $ — $ — $ 119,798 $ ( 19,879 ) $ 119,798 $ ( 19,879 ) Held-to-Maturity Securities: U.S. Agency Bonds $ — $ — $ 24,819 $ ( 181 ) $ 24,819 $ ( 181 ) Corporate Bonds 3,288 ( 212 ) 76,521 ( 2,479 ) 79,809 ( 2,691 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations 81,875 ( 725 ) 112,339 ( 4,445 ) 194,214 ( 5,170 ) FHLMC Certificates — — 3,653 ( 244 ) 3,653 ( 244 ) FNMA Certificates — — 114,856 ( 4,088 ) 114,856 ( 4,088 ) Total held-to-maturity securities $ 85,163 $ ( 937 ) $ 332,188 $ ( 11,437 ) $ 417,351 $ ( 12,374 )
Summary of Maturities of Securities	The following is a summary of maturities of securities at September 30, 2024 and December 31, 2023. Amounts are shown by contractual maturity. Because borrowers for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table. September 30, 2024 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,993 2,869 More than five years through ten years — — 2,993 2,869 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,000 1,340 More than five years through ten years 19,765 18,988 21,765 20,328 Mortgage-Backed Securities 102,367 87,808 Total available-for-sale securities $ 127,125 $ 111,005 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 25,000 24,951 More than one year through five years — — More than five years through ten years — — 25,000 24,951 Corporate Bonds: Amounts maturing: Three months or less $ 25,000 $ 24,939 More than three months through one year 10,000 9,935 More than one year through five years 15,000 14,988 More than five years through ten years 7,500 7,020 57,500 56,882 Mortgage-Backed Securities 321,443 316,990 Allowance for Credit Losses ( 207 ) — Total held-to-maturity securities $ 403,736 $ 398,823 December 31, 2023 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,990 2,784 More than five years through ten years — — 2,990 2,784 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 4,000 3,863 More than one year through five years 1,000 536 More than five years through ten years 20,790 19,269 25,790 23,668 Mortgage-Backed Securities 111,001 93,450 Total available-for-sale securities $ 139,781 $ 119,902 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 25,000 24,819 More than five years through ten years — — 25,000 24,819 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 25,000 24,650 More than one year through five years 50,000 48,265 More than five years through ten years 7,500 6,894 82,500 79,809 Mortgage-Backed Securities 354,646 345,414 Allowance for Credit Losses ( 398 ) — Total held-to-maturity securities $ 461,748 $ 450,042
Schedule of Activity in Allowance for Credit Losses for Held-to-maturity Securities	The following table presents the activity in the allowance for credit losses for held-to-maturity securities: For the Nine Months Ended For the Year Ended September 30, 2024 December 31, 2023 (in thousands) Allowance for credit losses on securities at beginning of period $ 398 $ — Impact on CECL adoption — 662 Benefit for credit losses ( 191 ) ( 264 ) Allowance for credit losses on securities at end of period $ 207 $ 398

Mortgage Loans Held for Sale (T

Mortgage Loans Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2024
Receivable, Held-for-Sale [Abstract]
Schedule of mortgage loans held for sale fair value and contractual principal balance	The following table provides the fair value and contractual principal balance outstanding of loans held for sale accounted for under the fair value options: September 30, December 31, 2024 2023 (in thousands) Mortgage loans held for sale, at fair value $ 9,566 $ 9,980 Mortgage loans held for sale, contractual principal outstanding 9,517 9,864 Fair value less unpaid principal balance $ 49 $ 116

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Summary of Loans	Loans receivable at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, December 31, 2024 2023 (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 332,380 $ 343,689 Owner-Occupied 145,065 152,311 Multifamily residential 678,029 550,559 Nonresidential properties 383,277 342,343 Construction and land 631,461 503,925 Total mortgage loans 2,170,212 1,892,827 Nonmortgage loans: Business loans 28,499 19,779 Consumer loans (1) 4,021 8,966 Total non-mortgage loans 32,520 28,745 Total loans, gross 2,202,732 1,921,572 Net deferred loan origination costs 1,565 468 Allowance for Credit Losses ( 23,966 ) ( 26,154 ) Loans receivable, net $ 2,180,331 $ 1,895,886 (1) As of September 30, 2024 and December 31, 2023, consumer loans include $ 3.0 million and $ 8.0 million, respectively, of microloans.
Schedule of Credit Risk Ratings by Loan Segment	The following tables present credit risk ratings by loan segment as of September 30, 2024 and December 31, 2023: September 30, 2024 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 464,585 $ 663,943 $ 380,850 $ 619,268 $ 27,238 $ 4,018 $ 2,159,902 Special mention 5,547 8,305 2,415 7,386 1,227 — 24,880 Substandard 7,313 5,781 12 4,807 34 3 17,950 Total $ 477,445 $ 678,029 $ 383,277 $ 631,461 $ 28,499 $ 4,021 $ 2,202,732 December 31, 2023 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 485,747 $ 546,471 $ 339,726 $ 497,266 $ 19,759 $ 8,966 $ 1,897,935 Special mention 2,150 1,109 2,527 — — — 5,786 Substandard 8,103 2,979 90 6,659 20 — 17,851 Total $ 496,000 $ 550,559 $ 342,343 $ 503,925 $ 19,779 $ 8,966 $ 1,921,572
Schedule of Aging Analysis of Loans	An aging analysis of loans, as of September 30, 2024 and December 31, 2023, is as follows: September 30, 2024 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 329,899 $ — $ 2,045 $ 436 $ 332,380 $ 436 $ — Owner-Occupied 142,777 — 421 1,867 145,065 1,867 — Multifamily residential 664,695 — 8,649 4,685 678,029 4,685 — Nonresidential properties 380,862 — 2,415 — 383,277 — — Construction and land 623,474 — 3,180 4,807 631,461 4,807 — Nonmortgage loans: Business 27,650 222 447 180 28,499 180 — Consumer 3,482 263 276 — 4,021 — — Total $ 2,172,839 $ 485 $ 17,433 $ 11,975 $ 2,202,732 $ 11,975 $ — December 31, 2023 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 342,896 $ — $ — $ 793 $ 343,689 $ 793 $ — Owner-Occupied 150,181 — — 2,130 152,311 2,130 — Multifamily residential 546,471 1,109 — 2,979 550,559 2,979 — Nonresidential properties 342,343 — — — 342,343 — — Construction and land 497,266 — — 6,659 503,925 6,659 — Nonmortgage loans: Business 19,240 366 8 165 19,779 165 — Consumer 7,423 536 1,007 — 8,966 — — Total $ 1,905,820 $ 2,011 $ 1,015 $ 12,726 $ 1,921,572 $ 12,726 $ —
Schedule of Composition of Allowance for Loan Losses and Related Recorded Investment	The following schedules detail the composition of the allowance for credit losses on loans and the related recorded investment in loans as of and for the three and nine months ended September 30, 2024 and 2023, and as of and for the year ended December 31, 2023: For the Nine Months Ended September 30, 2024 Mortgage Loans Nonmortgage Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for Credit Losses: Balance, beginning of period $ 4,415 $ 2,012 $ 4,365 $ 3,176 $ 4,807 $ 531 $ 6,848 $ 26,154 Provision (benefit) charged to expense ( 227 ) ( 185 ) 302 ( 35 ) 2,010 683 ( 2,122 ) 426 Charge-offs — — — ( 7 ) — ( 502 ) ( 2,683 ) ( 3,192 ) Recoveries — — — — — 9 569 578 Balance, end of period $ 4,188 $ 1,827 $ 4,667 $ 3,134 $ 6,817 $ 721 $ 2,612 $ 23,966 Ending balance: individually $ — $ — $ — $ — $ — $ 180 $ — $ 180 Ending balance: collectively 4,188 1,827 4,667 3,134 6,817 541 2,612 23,786 Total $ 4,188 $ 1,827 $ 4,667 $ 3,134 $ 6,817 $ 721 $ 2,612 $ 23,966 Loans: Ending balance: individually $ 436 $ 1,867 $ 4,685 $ — $ 4,807 $ 180 $ — $ 11,975 Ending balance: collectively 331,944 143,198 673,344 383,277 626,654 28,319 4,021 2,190,757 Total $ 332,380 $ 145,065 $ 678,029 $ 383,277 $ 631,461 $ 28,499 $ 4,021 $ 2,202,732 For the Three Months Ended September 30, 2024 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 4,188 $ 1,946 $ 4,185 $ 2,297 $ 6,796 $ 987 $ 3,662 $ 24,061 Provision (benefit) charged to expense — ( 119 ) 482 844 21 183 ( 610 ) 801 Losses charged-off — — — ( 7 ) — ( 450 ) ( 634 ) ( 1,091 ) Recoveries — — — — — 1 194 195 Balance, end of period $ 4,188 $ 1,827 $ 4,667 $ 3,134 $ 6,817 $ 721 $ 2,612 $ 23,966 For the Nine Months Ended September 30, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Provision (benefit) charged to expense 33 257 653 ( 20 ) 2,276 193 ( 2,029 ) 1,363 Impact of CECL adoption 766 146 ( 3,962 ) 578 ( 911 ) 236 57 ( 3,090 ) Charge-offs — — — — — — ( 6,092 ) ( 6,092 ) Recoveries — — — — — 3 638 641 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Ending balance: individually $ — $ 71 $ — $ — $ — $ 204 $ — $ 275 Ending balance: collectively 4,662 2,055 4,712 3,282 4,048 348 8,032 27,139 Total $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Loans: Ending balance: individually $ 396 $ 2,134 $ — $ — $ 6,657 $ 209 $ — $ 9,396 Ending balance: collectively 346,686 149,732 553,694 321,472 404,726 18,207 10,416 1,804,933 Total $ 347,082 $ 151,866 $ 553,694 $ 321,472 $ 411,383 $ 18,416 $ 10,416 $ 1,814,329 For the Three Months Ended September 30, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer Total (in thousands) Allowance for loan losses: Balance, beginning of period $ 4,776 $ 2,152 $ 4,738 $ 3,238 $ 3,189 $ 450 $ 9,630 $ 28,173 Provision (benefit) charged to expense ( 114 ) ( 26 ) ( 26 ) 44 859 99 ( 86 ) 750 Losses charged-off — — — — — — ( 1,592 ) ( 1,592 ) Recoveries — — — — — 3 80 83 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 For the Year Ended December 31, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of year $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Provision (benefit) charged to expense ( 214 ) 143 306 ( 126 ) 3,035 235 ( 2,142 ) 1,237 Impact of CECL adoption 766 146 ( 3,962 ) 578 ( 911 ) 236 57 ( 3,090 ) Charge-offs — — — — — ( 63 ) ( 7,227 ) ( 7,290 ) Recoveries — — — — — 3 702 705 Balance, end of year $ 4,415 $ 2,012 $ 4,365 $ 3,176 $ 4,807 $ 531 $ 6,848 $ 26,154 Ending balance: individually $ — $ 72 $ — $ — $ — $ 161 $ — $ 233 Ending balance: collectively 4,415 1,940 4,365 3,176 4,807 370 6,848 25,921 Total $ 4,415 $ 2,012 $ 4,365 $ 3,176 $ 4,807 $ 531 $ 6,848 $ 26,154 Loans: Ending balance: individually $ 793 $ 2,130 $ 2,979 $ — $ 6,659 $ 165 $ — $ 12,726 Ending balance: collectively 342,896 150,181 547,580 342,343 497,266 19,614 8,966 1,908,846 Total $ 343,689 $ 152,311 $ 550,559 $ 342,343 $ 503,925 $ 19,779 $ 8,966 $ 1,921,572
Schedule of Information Relates to Impaired Loans	The following information relates to impaired loans as of and for the nine months ended September 30, 2024 and 2023 and as of and for the year ended December 31, 2023: Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,284 $ 2,303 $ — $ 2,303 $ — $ 2,452 $ 19 Multifamily residential 4,603 4,685 — 4,685 — 4,379 5 Nonresidential properties — — — — — 317 — Construction and land 4,807 4,807 — 4,807 — 5,612 1,059 Nonmortgage loans: Business 180 — 180 180 180 222 2 Consumer — — — — — — — Total $ 11,874 $ 11,795 $ 180 $ 11,975 $ 180 $ 12,982 $ 1,085 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,517 $ 2,081 $ 449 $ 2,530 $ 71 $ 6,478 $ 40 Multifamily residential — — — — — 958 — Nonresidential properties — — — — — 531 — Construction and land 6,650 6,657 — 6,657 — 8,438 — Nonmortgage loans: Business 209 — 209 209 204 83 — Consumer — — — — — — — Total $ 9,376 $ 8,738 $ 658 $ 9,396 $ 275 $ 16,488 $ 40 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and for the Year Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,906 $ 2,475 $ 448 $ 2,923 $ 72 $ 4,812 $ 82 Multifamily residential 2,966 2,979 — 2,979 — 1,463 151 Nonresidential properties — — — — — 198 — Construction and land 6,650 6,659 — 6,659 — 8,211 — Nonmortgage loans: Business 165 — 165 165 161 104 — Consumer — — — — — — — Total $ 12,687 $ 12,113 $ 613 $ 12,726 $ 233 $ 14,788 $ 233
Schedule of Total Exposure	Total Microloans Exposure as of September 30, 2024 (in thousands) Microloans Receivable from Grain Microloans originated - put back (inception-to-September 30, 2024) $ 23,932 Write-downs, net of recoveries (inception-to-date as of September 30, 2024) ( 15,287 ) Cash receipts (inception-to-September 30, 2024) ( 6,819 ) Grant/reserve (inception-to-September 30, 2024) ( 1,826 ) Net receivable as of September 30, 2024 $ — Microloans Receivable from Borrowers Microloans receivable as of September 30, 2024 $ 3,033 Allowance for credit losses as of September 30, 2024 (1) ( 2,570 ) Microloans, net of allowance for credit losses as of September 30, 2024 $ 463 Investments Investment in Grain $ 1,000 Investment write-off in the third quarter of 2022 ( 1,000 ) Net investment as of September 30, 2024 $ — Total exposure related to microloans as of September 30, 2024 (2) $ 463 (1) Excludes $ 1.5 million of security deposits by microloan borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions. (2) Total remaining exposure to microloan borrowers. These loans are now serviced by the Bank.
Summary of Allowance for Off-Balance-Sheet Credit Losses	The following table presents the activity in the allowance for off-balance-sheet credit losses: For the Nine Months Ended For the Year Ended September 30, 2024 December 31, 2023 (in thousands) Allowance for credit losses on unfunded commitment at beginning of period $ 3,613 $ 354 Impact on CECL adoption — 948 (Benefit) provision for credit losses ( 581 ) 2,311 Allowance for credit losses on unfunded commitment at end of period $ 3,032 $ 3,613

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2024 2023 (Dollars in thousands) Operating lease ROU assets $ 29,785 $ 31,272 Operating lease liabilities 31,343 32,684 Weighted-average remaining lease term-operating leases 12.0 years 12.6 years Weighted average discount rate-operating leases 4.9 % 4.9 %
Summary of Lease Expense and Cash Flow Information Related to Leases	The components of lease expense and cash flow information related to leases were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Dollars in thousands) Lease Cost Operating lease cost Occupancy and equipment $ 1,035 $ 1,029 $ 3,082 $ 3,123 Operating lease cost Other operating expenses 2 4 24 14 Short-term lease cost Other operating expenses 7 5 17 15 Variable lease cost Occupancy and equipment 46 32 122 94 Total lease cost $ 1,090 $ 1,070 $ 3,245 $ 3,246
Summary of Minimum Annual Rental Payments under Terms of Leases	The Company’s minimum annual rental payments under the terms of the leases are as follows at September 30, 2024: Minimum Rental Years ended December 31: (in thousands) Remainder of 2024 $ 981 2025 3,864 2026 3,716 2027 3,561 2028 3,594 Thereafter 25,474 Total Minimum payments required 41,190 Less: implied interest 9,847 Present value of lease liabilities $ 31,343

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2024
Banking And Thrifts [Abstract]
Summarized Deposits	Deposits at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, December 31, 2024 2023 (in thousands) Demand (1) $ 182,737 $ 185,151 Interest-bearing deposits: NOW/IOLA accounts (1) 71,445 77,909 Money market accounts 660,168 432,735 Reciprocal deposits 94,145 96,860 Savings accounts 108,941 114,139 Total NOW, money market, reciprocal and savings 934,699 721,643 Certificates of deposit of $250K or more 174,053 132,153 Brokered certificates of deposits (2) 94,531 98,729 Listing service deposits (2) 7,376 14,433 Certificates of deposit less than $250K 476,927 355,511 Total certificates of deposit 752,887 600,826 Total interest-bearing deposits 1,687,586 1,322,469 Total deposits $ 1,870,323 $ 1,507,620 (1) As of December 31, 2023, $ 58.2 million were reclassified from demand to NOW/IOLA accounts. (2) As of September 30, 2024 , there were no individual listing service deposits amounting to $ 250,000 or more. As of December 31, 2023, there were $ 0.3 million in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 .
Scheduled Maturities of Certificates of Deposit	At September 30, 2024 scheduled maturities of certificates of deposit were as follows: (in thousands) 2024 $ 329,489 2025 321,575 2026 49,968 2027 46,753 2028 3,219 Thereafter 1,883 $ 752,887

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Borrowed Funds FHLBNY and Correspondent Bank Advances Maturity and Call Date	Borrowed funds at September 30, 2024 and December 31, 2023 consist of the following and are summarized by maturity and call date below: September 30, December 31, 2024 2023 Scheduled Redeemable Weighted Scheduled Redeemable Weighted (Dollars in thousands) Term advances ending: 2024 $ 59,321 $ 59,321 4.00 % $ 363,321 $ 363,321 4.55 % 2025 50,000 50,000 4.41 50,000 50,000 4.41 2026 200,000 200,000 4.25 — — — 2027 212,000 212,000 3.44 212,000 212,000 3.44 2028 9,100 9,100 3.84 9,100 9,100 3.84 Thereafter 50,000 50,000 3.35 50,000 50,000 3.35 $ 580,421 $ 580,421 3.86 % $ 684,421 $ 684,421 4.10 %

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amount and Fair Value of Derivatives Designated as Hedging Instruments	The tables present the notional amount and fair value of derivatives designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition. Fair Value Notional Loans Receivable Other Liabilities (in thousands) As of September 30, 2024 Derivatives Designated as Hedging Instruments Interest rate swap contracts $ 250,000 $ 4,352 $ 4,352 Total Derivatives $ 250,000 $ 4,352 $ 4,352 Fair Value Notional Loans Receivable Other Liabilities (in thousands) As of December 31, 2023 Derivatives Designated as Hedging Instruments Interest rate swap contracts $ 250,000 $ 4,435 $ 4,435 Total Derivatives $ 250,000 $ 4,435 $ 4,435

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share	The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 (Dollars in thousands except share data) Net income available to common stockholders $ 2,152 $ 2,590 $ 7,683 $ 2,834 Common shares outstanding for basic EPS: Weighted average common shares outstanding 23,814,505 23,774,317 23,805,066 24,456,108 Less: Weighted average unallocated Employee Stock 1,368,496 1,502,241 1,401,808 1,535,428 Basic weighted average common shares outstanding 22,446,009 22,272,076 22,403,258 22,920,680 Basic earnings per common share $ 0.10 $ 0.12 $ 0.34 $ 0.12 Potential dilutive common shares: Add: Dilutive effect of restricted stock awards and stock options 166,019 77,141 62,920 42,276 Diluted weighted average common shares outstanding 22,612,028 22,349,217 22,466,178 22,962,956 Diluted earnings per common share $ 0.10 $ 0.12 $ 0.34 $ 0.12

Commitments, Contingencies an_2

Commitments, Contingencies and Credit Risk (Tables)	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Financial Instruments Whose Contractual Amounts Represent Credit Risk	Financial instruments whose contractual amounts represent credit risk at September 30, 2024 and December 31, 2023 are as follows: September 30, December 31, 2024 2023 (in thousands) Commitments to grant mortgage loans $ 427,648 $ 529,768 Unfunded commitments under lines of credit 58,855 61,739 $ 486,503 $ 591,507

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on Recurring Basis	The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023, and indicate the level within the fair value hierarchy utilized to determine the fair value: September 30, 2024 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,869 $ 2,869 $ — $ — Corporate bonds 20,328 — 20,328 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 30,644 — 30,644 — FHLMC Certificates 8,191 — 8,191 — FNMA Certificates 48,882 — 48,882 — GNMA Certificates 91 — 91 — Mortgage Loans Held for Sale, at fair value 9,566 — 9,566 — Interest rate swap 4,352 — 4,352 — $ 124,923 $ 2,869 $ 122,054 $ — December 31, 2023 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,784 $ 2,784 $ — $ — Corporate bonds 23,668 536 23,132 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 33,148 — 33,148 — FHLMC Certificates 8,681 — 8,681 — FNMA Certificates 51,517 — 51,517 — GNMA Certificates 104 — 104 — Mortgage Loans Held for Sale, at fair value 9,980 — 9,980 — Interest rate swap 4,435 — 4,435 — $ 134,317 $ 3,320 $ 130,997 $ —
Assets Measured at Fair Value on Nonrecurring Basis	The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of September 30, 2024 and December 31, 2023 and indicate the fair value hierarchy utilized to determine the fair value: September 30, 2024 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 11,975 $ — $ — $ 11,975 December 31, 2023 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 12,726 $ — $ — $ 12,726
Estimated Fair Values of Financial Instruments	As of September 30, 2024 and December 31, 2023, the carrying values and estimated fair values of the Company's financial instruments were as follows: Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) September 30, 2024 Financial assets: Cash and cash equivalents $ 155,812 $ 155,812 $ — $ — $ 155,812 Available-for-sale securities, at fair value 111,005 2,869 108,136 — 111,005 Held-to-maturity securities, at amortized cost, net 403,736 — 398,823 — 398,823 Placement with banks 249 — 249 — 249 Mortgage loans held for sale, at fair value 9,566 — 9,566 — 9,566 Loans receivable, net 2,180,331 — — 2,153,077 2,153,077 Accrued interest receivable 16,890 — 16,890 — 16,890 FHLBNY stock 28,515 28,515 — — 28,515 Interest rate swap 4,352 — 4,352 — 4,352 Financial liabilities: Deposits: Demand deposits 182,737 182,737 — — 182,737 Interest-bearing deposits 934,699 934,699 — — 934,699 Certificates of deposit 752,887 — 751,665 — 751,665 Advance payments by borrowers for taxes and insurance 13,733 — 13,733 — 13,733 Borrowings 580,421 — 577,809 — 577,809 Interest rate swap 4,352 — 4,352 — 4,352 Accrued interest payable 2,918 — 2,918 — 2,918 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) December 31, 2023 Financial assets: Cash and cash equivalents $ 139,190 $ 139,190 $ — $ — $ 139,190 Available-for-sale securities, at fair value 119,902 3,320 116,582 — 119,902 Held-to-maturity securities, at amortized cost 461,748 — 450,042 — 450,042 Placement with banks 249 — 249 — 249 Mortgage loans held for sale, at fair value 9,980 — 9,980 — 9,980 Loans receivable, net 1,895,886 — — 1,844,507 1,844,507 Accrued interest receivable 18,010 — 18,010 — 18,010 FHLBNY stock 19,377 19,377 — — 19,377 Interest rate swap 4,435 4,435 4,435 Financial liabilities: Deposits: Demand deposits (1) 185,151 185,151 — — 185,151 Interest-bearing deposits (1) 721,643 721,643 — — 721,643 Certificates of deposit 600,826 — 594,234 — 594,234 Advance payments by borrowers for taxes and insurance 10,778 — 10,778 — 10,778 Borrowings 684,421 — 674,155 — 674,155 Interest rate swap 4,435 — 4,435 — 4,435 Accrued interest payable 11,965 — 11,965 — 11,965 (1) A s of December 31, 2023, $ 58.2 million were reclassified from demand deposits to interest-bearing deposits.

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	9 Months Ended
	Sep. 30, 2024
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Summary of Bank's Actual Capital Amounts and Ratios As Compared to Regulatory Requirements	The Company's and the Bank’s actual capital amounts and ratios as of September 30, 2024 and December 31, 2023 as compared to regulatory requirements are as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) September 30, 2024 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 544,272 22.87 % $ 190,349 8.00 % $ 237,936 10.00 % Tier 1 Capital to Risk-Weighted Assets 517,274 21.74 % 142,762 6.00 % 190,349 8.00 % Common Equity Tier 1 Capital Ratio 292,274 12.28 % 107,071 4.50 % 154,658 6.50 % Tier 1 Capital to Total Assets 517,274 17.81 % 116,180 4.00 % 145,225 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 505,271 21.61 % $ 187,065 8.00 % $ 233,831 10.00 % Tier 1 Capital to Risk-Weighted Assets 478,273 20.45 % 140,299 6.00 % 187,065 8.00 % Common Equity Tier 1 Capital Ratio 478,273 20.45 % 105,224 4.50 % 151,990 6.50 % Tier 1 Capital to Total Assets 478,273 16.19 % 118,133 4.00 % 147,666 5.00 % To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2023 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 533,513 25.06 % $ 170,302 8.00 % $ 212,878 10.00 % Tier 1 Capital to Risk-Weighted Assets 507,042 23.82 % 127,727 6.00 % 170,302 8.00 % Common Equity Tier 1 Capital Ratio 282,042 13.25 % 95,795 4.50 % 138,371 6.50 % Tier 1 Capital to Total Assets 507,042 19.71 % 102,911 4.00 % 128,639 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 492,622 23.30 % $ 169,153 8.00 % $ 211,441 10.00 % Tier 1 Capital to Risk-Weighted Assets 466,151 22.05 % 126,865 6.00 % 169,153 8.00 % Common Equity Tier 1 Capital Ratio 466,151 22.05 % 95,149 4.50 % 137,437 6.50 % Tier 1 Capital to Total Assets 466,151 17.49 % 106,591 4.00 % 133,239 5.00 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	The accumulated other comprehensive loss is as follows: September 30, 2024 December 31, Change September 30, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 15,649 ) $ 2,963 $ ( 12,686 ) Total $ ( 15,649 ) $ 2,963 $ ( 12,686 ) December 31, 2023 December 31, Change December 31, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 17,860 ) $ 2,211 $ ( 15,649 ) Total $ ( 17,860 ) $ 2,211 $ ( 15,649 )

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Aggregate Loan Transactions with Related Parties	Aggregate loan transactions with related parties for the three and nine months ended September 30, 2024 and 2023 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 (in thousand) Beginning balance $ 9,303 $ 8,614 $ 8,810 $ 8,318 Originations 248 50 1,840 678 Payments ( 49 ) ( 851 ) ( 1,148 ) ( 1,183 ) Ending balance $ 9,502 $ 7,813 $ 9,502 $ 7,813

Preferred Stock - Additional In

Preferred Stock - Additional Information (Details) - Private Placement - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	9 Months Ended
	Jun. 07, 2022	Sep. 30, 2024	Sep. 30, 2024
Conversion Of Stock [Line Items]
Shares issued in transaction	225,000
Sale of stock, price per share	$ 0.01
Purchase price equal to cash	$ 225
Initial dividend rate	0%
Floor dividend rate	0.50%		0.50%
Ceiling dividend rate	2%
Accrued dividends on preferred stock		$ 0.3	$ 0.4
Qualified lending			$ 1,162
ECIP investment by Treasury	$ 8,700
Preferred stock, liquidation preference per share		$ 1,000	$ 1,000

Securities - Amortized Cost, Gr

Securities - Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024		Dec. 31, 2023		Dec. 31, 2022
Available-for-Sale Securities:
Amortized Cost	$ 127,125		$ 139,781
Gross Unrealized Losses	(16,120)		(19,879)
Fair Value	111,005		119,902
Held-to-Maturity Securities:
Amortized Cost			461,748
Amortized Cost, after Allowance for Credit Loss	403,736		461,748
Gross Unrealized Gains	629		270
Gross Unrealized Losses	(5,749)		(12,374)
Fair Value	398,823		450,042
Allowance for Credit Losses	(207)		(398)		$ 0
U.S. Government Bonds
Available-for-Sale Securities:
Amortized Cost	2,993		2,990
Gross Unrealized Losses	(124)		(206)
Fair Value	2,869		2,784
US Agency Bonds
Held-to-Maturity Securities:
Amortized Cost	25,000		25,000
Gross Unrealized Losses	(49)		(181)
Fair Value	24,951		24,819
Corporate Bonds
Available-for-Sale Securities:
Amortized Cost	21,766		25,790
Gross Unrealized Losses	(1,438)		(2,122)
Fair Value	20,328		23,668
Held-to-Maturity Securities:
Amortized Cost	57,500		82,500
Gross Unrealized Losses	(618)		(2,691)
Fair Value	56,882		79,809
Collateralized Mortgage Obligations
Available-for-Sale Securities:
Amortized Cost	35,620	[1]	39,375	[2]
Gross Unrealized Losses	(4,976)	[1]	(6,227)	[2]
Fair Value	30,644	[1]	33,148	[2]
Held-to-Maturity Securities:
Amortized Cost	193,440	[1]	212,093	[2]
Gross Unrealized Gains	454	[1]	104	[2]
Gross Unrealized Losses	(2,946)	[1]	(5,170)	[2]
Fair Value	190,948	[1]	207,027	[2]
FHLMC Certificates
Available-for-Sale Securities:
Amortized Cost	9,310		10,163
Gross Unrealized Losses	(1,119)		(1,482)
Fair Value	8,191		8,681
Held-to-Maturity Securities:
Amortized Cost	3,441		3,897
Gross Unrealized Losses	(169)		(244)
Fair Value	3,272		3,653
FNMA Certificates
Available-for-Sale Securities:
Amortized Cost	57,345		61,359
Gross Unrealized Losses	(8,463)		(9,842)
Fair Value	48,882		51,517
Held-to-Maturity Securities:
Amortized Cost	108,577		118,944
Gross Unrealized Gains	22
Gross Unrealized Losses	(1,967)		(4,088)
Fair Value	106,632		114,856
GNMA Certificates
Available-for-Sale Securities:
Amortized Cost	91		104
Fair Value	91		104
SBA Certificates
Held-to-Maturity Securities:
Amortized Cost	15,985		19,712
Gross Unrealized Gains	153		166
Fair Value	$ 16,138		$ 19,878
[1] Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. Comprised of FHLMC, FNMA and GNMA issued securities.

Securities - Additional Informa

Securities - Additional Information (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) Security	Dec. 31, 2023 USD ($) Security
Schedule Of Available For Sale Securities [Line Items]
Available For Sale Securities | Security	39	40
Held to maturity | Security	32	33
Number of securities were pledged | Security	0
Sale of Held - to maturity Securities	$ 0	$ 0
Sale of available-for-sale securities	$ 0	$ 0
Number of available-for-sale securities matured or called | Security	1
Number of held to maturity securities matured or called | Security	1	1
Available-for-sale securities matured	$ 4,000,000
Held-to-maturity securities matured	25,000,000	$ 10,000,000
Purchases of available-for-sale securities	0	0
Purchases of Held-to-maturity securities	$ 0	$ 0
Number of available-for-sale securities with unrealized loss positions | Security	38	40
Number of held-to-maturity securities with unrealized loss positions | Security	24	31
Held-to-maturity securities, at amortized cost, net	$ 403,736,000	$ 461,748,000
Available-for-sale securities, at fair value	$ 111,005,000	119,902,000
Federal Reserve Bank of New York (FRBNY)
Schedule Of Available For Sale Securities [Line Items]
Held-to-maturity securities, at amortized cost, net		$ 193,300,000
Number of held-to-maturity securities | Security		17
Number of available-for-sale securities | Security		26
Available for sale securities fair value		$ 93,300,000

Securities - Company's Securiti

Securities - Company's Securities Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	$ 110,914	$ 119,798
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(16,120)	(19,879)
Securities With Gross Unrealized Losses, Total Fair Value	110,914	119,798
Securities With Gross Unrealized Losses, Total Unrealized Losses	(16,120)	(19,879)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		85,163
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(937)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	291,055	332,188
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(5,749)	(11,437)
Securities With Gross Unrealized Losses, Total Fair Value	291,055	417,351
Securities With Gross Unrealized Losses, Total Unrealized Losses	(5,749)	(12,374)
U.S. Government Bonds
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	2,869	2,784
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(124)	(206)
Securities With Gross Unrealized Losses, Total Fair Value	2,869	2,784
Securities With Gross Unrealized Losses, Total Unrealized Losses	(124)	(206)
US Agency Bonds
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	24,951	24,819
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(49)	(181)
Securities With Gross Unrealized Losses, Total Fair Value	24,951	24,819
Securities With Gross Unrealized Losses, Total Unrealized Losses	(49)	(181)
Corporate Bonds
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	20,328	23,668
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(1,438)	(2,122)
Securities With Gross Unrealized Losses, Total Fair Value	20,328	23,668
Securities With Gross Unrealized Losses, Total Unrealized Losses	(1,438)	(2,122)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		3,288
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(212)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	56,882	76,521
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(618)	(2,479)
Securities With Gross Unrealized Losses, Total Fair Value	56,882	79,809
Securities With Gross Unrealized Losses, Total Unrealized Losses	(618)	(2,691)
Collateralized Mortgage Obligations
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	30,644	33,148
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(4,976)	(6,227)
Securities With Gross Unrealized Losses, Total Fair Value	30,644	33,148
Securities With Gross Unrealized Losses, Total Unrealized Losses	(4,976)	(6,227)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		81,875
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(725)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	104,328	112,339
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(2,946)	(4,445)
Securities With Gross Unrealized Losses, Total Fair Value	104,328	194,214
Securities With Gross Unrealized Losses, Total Unrealized Losses	(2,946)	(5,170)
FHLMC Certificates
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	8,191	8,681
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(1,119)	(1,482)
Securities With Gross Unrealized Losses, Total Fair Value	8,191	8,681
Securities With Gross Unrealized Losses, Total Unrealized Losses	(1,119)	(1,482)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	3,272	3,653
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(169)	(244)
Securities With Gross Unrealized Losses, Total Fair Value	3,272	3,653
Securities With Gross Unrealized Losses, Total Unrealized Losses	(169)	(244)
FNMA Certificates
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	48,882	51,517
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(8,463)	(9,842)
Securities With Gross Unrealized Losses, Total Fair Value	48,882	51,517
Securities With Gross Unrealized Losses, Total Unrealized Losses	(8,463)	(9,842)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	101,622	114,856
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(1,967)	(4,088)
Securities With Gross Unrealized Losses, Total Fair Value	101,622	114,856
Securities With Gross Unrealized Losses, Total Unrealized Losses	$ (1,967)	$ (4,088)

Securities - Summary of Maturit

Securities - Summary of Maturities of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	$ 127,125	$ 139,781
Available-for-sale securities, at fair value	111,005	119,902
Held-to-Maturity Securities:
Held To Maturity Securities, Amortized Cost		461,748
Allowance for Credit Losses	(207)	(398)
Held To Maturity Securities, Amortized Cost, After Allowance for Credit Losses	403,736
Held-to-maturity securities, at amortized cost ,fair value	398,823	450,042
Corporate Bonds
Available-for-Sale Securities:
Available-for-Sale Securities After three months through one year, Amortized Cost		4,000
Available-for-Sale Securities After one year through five years, Amortized Cost	2,000	1,000
Available-for-Sale Securities After five years through ten years, Amortized Cost	19,765	20,790
Available-for-Sale Securities, Amortized Cost	21,766	25,790
Available-for-Sale Securities, Amortized Cost	21,765
Available-for-Sale Securities After three months through one year, Fair Value		3,863
Available-for-Sale Securities After one year through five years, Fair Value	1,340	536
Available-for-Sale Securities After five years through ten years, Fair Value	18,988	19,269
Available-for-sale securities, at fair value	20,328	23,668
Held-to-Maturity Securities:
Held-to-Maturity Securities, Three months or less, Amortized Cost	25,000
Held-to-Maturity Securities, More than three months through one year, Amortized Cost	10,000	25,000
Held-to-Maturity Securities, More than one year through five years, Amortized Cost	15,000	50,000
Held-to-Maturity Securities, More than five years through ten years, Amortized Cost	7,500	7,500
Held To Maturity Securities, Amortized Cost	57,500	82,500
Held-to-Maturity Securities, Three months or less, Fair Value	24,939
Held-to-Maturity Securities, More than three months through one year, Fair Value	9,935	24,650
Held-to-Maturity Securities, More than one year through five years, Fair Value	14,988	48,265
Held-to-Maturity Securities, More than five years through ten years, Fair Value	7,020	6,894
Held-to-maturity securities, at amortized cost ,fair value	56,882	79,809
U.S. Government Bonds
Available-for-Sale Securities:
Available-for-Sale Securities After one year through five years, Amortized Cost	2,993	2,990
Available-for-Sale Securities, Amortized Cost	2,993	2,990
Available-for-Sale Securities After one year through five years, Fair Value	2,869	2,784
Available-for-sale securities, at fair value	2,869	2,784
Mortgage-Backed Securities
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	102,367	111,001
Available-for-sale securities, at fair value	87,808	93,450
Held-to-Maturity Securities:
Held To Maturity Securities, Amortized Cost	321,443	354,646
Held-to-maturity securities, at amortized cost ,fair value	316,990	345,414
US Agency Bonds
Held-to-Maturity Securities:
Held-to-Maturity Securities, More than three months through one year, Amortized Cost	25,000
Held-to-Maturity Securities, More than one year through five years, Amortized Cost		25,000
Held To Maturity Securities, Amortized Cost	25,000	25,000
Held-to-Maturity Securities, More than three months through one year, Fair Value	24,951
Held-to-Maturity Securities, More than one year through five years, Fair Value		24,819
Held-to-maturity securities, at amortized cost ,fair value	$ 24,951	$ 24,819

Securities - Schedule of Activi

Securities - Schedule of Activity in Allowance for Credit Losses for Held-to-maturity Securities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on securities at beginning of period	$ 398	$ 0
Impact on CECL adoption	0	662
Benefit for credit losses	(191)	(264)
Allowance for credit losses on securities at end of period	$ 207	$ 398

Mortgage Loans Held for Sale -

Mortgage Loans Held for Sale - Schedule of Fair Value And Contractual Principal Balance Outstanding Of Loans Held For Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Receivable, Held-for-Sale [Abstract]
Mortgage loans held for sale, at fair value	$ 9,566	$ 9,980
Mortgage loans held for sale, contractual principal outstanding	9,517	9,864
Fair value less unpaid principal balance	$ 49	$ 116

Mortgage Loans Held for Sale _2

Mortgage Loans Held for Sale - Additional Information (Details) $ in Thousands	Sep. 30, 2024 USD ($) Loan	Dec. 31, 2023 USD ($) Loan
Mortgage Loans Held for Sale[Line Item]
Mortgage loans held for sale, at fair value	$ 9,566	$ 9,980
Mortage loans held for sale	$ 9,517	$ 9,864
Number of loan held for sale | Loan	15	19
Financing Receivables, 90 Days or More Past Due
Mortgage Loans Held for Sale[Line Item]
Mortage loans held for sale	$ 5,200	$ 4,400

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Credit Losses - Summary of Loans (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		$ 2,202,732		$ 1,921,572	$ 1,814,329
Net deferred loan origination costs		1,565		468
Allowance for Credit Losses		(23,966)	$ (24,061)	(26,154)	(27,414)	$ (28,173)	$ (34,592)
Loans receivable, net		2,180,331		1,895,886
1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		332,380		343,689	347,082
Allowance for Credit Losses		(4,188)	(4,188)	(4,415)	(4,662)	(4,776)	(3,863)
1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		145,065		152,311	151,866
Allowance for Credit Losses		(1,827)	(1,946)	(2,012)	(2,126)	(2,152)	(1,723)
Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		678,029		550,559	553,694
Allowance for Credit Losses		(4,667)	(4,185)	(4,365)	(4,712)	(4,738)	(8,021)
Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		383,277		342,343	321,472
Allowance for Credit Losses		(3,134)	(2,297)	(3,176)	(3,282)	(3,238)	(2,724)
Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		631,461		503,925	411,383
Allowance for Credit Losses		(6,817)	(6,796)	(4,807)	(4,048)	(3,189)	(2,683)
Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		28,499		19,779	18,416
Allowance for Credit Losses		(721)	(987)	(531)	(552)	(450)	(120)
Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		4,021		8,966	10,416
Allowance for Credit Losses		(2,612)	$ (3,662)	(6,848)	$ (8,032)	$ (9,630)	$ (15,458)
Mortgage Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		2,170,212		1,892,827
Mortgage Loans | 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		332,380		343,689
Mortgage Loans | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		145,065		152,311
Mortgage Loans | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		678,029		550,559
Mortgage Loans | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		383,277		342,343
Mortgage Loans | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		631,461		503,925
Non-mortgage Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		32,520		28,745
Non-mortgage Loans | Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		28,499		19,779
Non-mortgage Loans | Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross	[1]	$ 4,021		$ 8,966
[1] As of September 30, 2024 and December 31, 2023, consumer loans include $ 3.0 million and $ 8.0 million, respectively, of microloans.

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Credit Losses - Summary of Loans (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 2,202,732	$ 1,921,572	$ 1,814,329
Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	28,499	19,779	18,416
Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	4,021	8,966	$ 10,416
Consumer Loans | PPP Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 3,000	$ 8,000

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Credit Losses - Additional Information (Details)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2024 USD ($) Loan	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Loan	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) Loan	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable number of loan modifications | Loan		1		1		0
Financing receivable modified amount				$ 200,000		$ 0
Number of troubled debt restructured loans | Loan		19		19		21
Troubled debt restructured loans		$ 5,300,000		$ 5,300,000		$ 5,900,000
Troubled debt restructured loan, accrual status		4,600,000		$ 4,600,000		5,200,000
Number of micro loan outstanding | Loan				8,428
Aggregate balance of microloans		3,000,000		$ 3,000,000
Allowance for credit losses	[1]	(2,570,000)		(2,570,000)
Microloans, net of allowance for loan losses		463,000		463,000
Microloans Writedowns		15,287,000		15,287,000
Cash receipts from microloans		6,819,000		6,819,000
Grant received		1,826,000		1,826,000
Security deposits by borrowers		1,500,000		1,500,000
Investment write-off				1,000,000
Exposure To Microloans	[2]	463,000		463,000
Microloans recoveries		54,000	$ 69,000	172,000	$ 1,329,000
Microloans write-off and write down				200,000
Allowance for off-balance sheet credit losses		$ 3,032,000		$ 3,032,000		3,613,000	$ 354,000
Accounting Standards Update 2022-02
Accounts, Notes, Loans and Financing Receivable [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]		true		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2023		Jan. 01, 2023
(Benefit) Provision for Contingencies
Accounts, Notes, Loans and Financing Receivable [Line Items]
(Benefit) provision for off-balance-sheet credit losses		$ (300,000)	$ 400,000	$ (600,000)	$ 1,900,000
Other Liabilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for off-balance sheet credit losses		3,000,000		3,000,000		$ 3,600,000
Grain Technologies LLC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Micro loan credit limit		1,500,000		1,500,000
Microloans originated - put back to Grain		$ 24,000,000		$ 24,000,000
Grain Technologies LLC | Microloans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of micro loan outstanding | Loan				45,322
Investment write-off							$ 1,000,000
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Strong Pass Loans to new or existing borrowers collateralized percentage		90%		90%
[1] Excludes $ 1.5 million of security deposits by microloan borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions. Total remaining exposure to microloan borrowers. These loans are now serviced by the Bank.

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Credit Losses - Credit Risk Ratings by Loan Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 2,202,732	$ 1,921,572	$ 1,814,329
1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	477,445	496,000
Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	678,029	550,559	553,694
Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	383,277	342,343	321,472
Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	631,461	503,925	411,383
Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	28,499	19,779	18,416
Consumer
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	4,021	8,966	$ 10,416
Pass
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	2,159,902	1,897,935
Pass | 1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	464,585	485,747
Pass | Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	663,943	546,471
Pass | Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	380,850	339,726
Pass | Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	619,268	497,266
Pass | Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	27,238	19,759
Pass | Consumer
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	4,018	8,966
Special Mention
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	24,880	5,786
Special Mention | 1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	5,547	2,150
Special Mention | Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	8,305	1,109
Special Mention | Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	2,415	2,527
Special Mention | Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	7,386
Special Mention | Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	1,227
Substandard
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	17,950	17,851
Substandard | 1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	7,313	8,103
Substandard | Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	5,781	2,979
Substandard | Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	12	90
Substandard | Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	4,807	6,659
Substandard | Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	34	$ 20
Substandard | Consumer
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 3

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Credit Losses - Aging Analysis of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 2,202,732	$ 1,921,572	$ 1,814,329
Nonaccrual Loans	11,975	12,726
1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	332,380	343,689	347,082
Nonaccrual Loans	436	793
1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	145,065	152,311	151,866
Nonaccrual Loans	1,867	2,130
Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	678,029	550,559	553,694
Nonaccrual Loans	4,685	2,979
Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	383,277	342,343	321,472
Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	631,461	503,925	411,383
Nonaccrual Loans	4,807	6,659
Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,172,839	1,905,820
Current | 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	329,899	342,896
Current | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	142,777	150,181
Current | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	664,695	546,471
Current | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	380,862	342,343
Current | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	623,474	497,266
Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	485	2,011
Financial Asset, 30 to 59 Days Past Due | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		1,109
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	17,433	1,015
Financing Receivables, 60 to 89 Days Past Due | 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,045
Financing Receivables, 60 to 89 Days Past Due | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	421
Financing Receivables, 60 to 89 Days Past Due | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	8,649
Financing Receivables, 60 to 89 Days Past Due | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,415
Financing Receivables, 60 to 89 Days Past Due | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	3,180
Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	11,975	12,726
Financing Receivables, 90 Days or More Past Due | 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	436	793
Financing Receivables, 90 Days or More Past Due | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,867	2,130
Financing Receivables, 90 Days or More Past Due | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	4,685	2,979
Financing Receivables, 90 Days or More Past Due | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	4,807	6,659
Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	28,499	19,779	18,416
Nonaccrual Loans	180	165
Business Loans | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	27,650	19,240
Business Loans | Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	222	366
Business Loans | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	447	8
Business Loans | Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	180	165
Consumer
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	4,021	8,966	$ 10,416
Consumer | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	3,482	7,423
Consumer | Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	263	536
Consumer | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 276	$ 1,007

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Credit Losses - Composition of Allowance for Loan Losses and Related Recorded Investment in Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	$ 24,061	$ 28,173	$ 26,154	$ 34,592	$ 34,592
Provision (benefit) charged to expense	801	750	426	1,363	1,237
Impact of CECL adoption				(3,090)	(3,090)
Charge-offs	(1,091)	(1,592)	(3,192)	(6,092)	(7,290)
Recoveries	195	83	578	641	705
Balance, end of period	23,966	27,414	23,966	27,414	26,154
Ending balance: individually evaluated for impairment	180	275	180	275	233
Ending balance: collectively evaluated for impairment	23,786	27,139	23,786	27,139	25,921
Ending balance: individually evaluated for impairment	11,975	9,396	11,975	9,396	12,726
Ending balance: collectively evaluated for impairment	2,190,757	1,804,933	2,190,757	1,804,933	1,908,846
Total	2,202,732	1,814,329	2,202,732	1,814,329	1,921,572
1-4 Family Investor Owned
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	4,188	4,776	4,415	3,863	3,863
Provision (benefit) charged to expense		(114)	(227)	33	(214)
Impact of CECL adoption				766	766
Balance, end of period	4,188	4,662	4,188	4,662	4,415
Ending balance: collectively evaluated for impairment	4,188	4,662	4,188	4,662	4,415
Ending balance: individually evaluated for impairment	436	396	436	396	793
Ending balance: collectively evaluated for impairment	331,944	346,686	331,944	346,686	342,896
Total	332,380	347,082	332,380	347,082	343,689
1-4 Family Owner-Occupied
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	1,946	2,152	2,012	1,723	1,723
Provision (benefit) charged to expense	(119)	(26)	(185)	257	143
Impact of CECL adoption				146	146
Balance, end of period	1,827	2,126	1,827	2,126	2,012
Ending balance: individually evaluated for impairment		71		71	72
Ending balance: collectively evaluated for impairment	1,827	2,055	1,827	2,055	1,940
Ending balance: individually evaluated for impairment	1,867	2,134	1,867	2,134	2,130
Ending balance: collectively evaluated for impairment	143,198	149,732	143,198	149,732	150,181
Total	145,065	151,866	145,065	151,866	152,311
Multifamily
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	4,185	4,738	4,365	8,021	8,021
Provision (benefit) charged to expense	482	(26)	302	653	306
Impact of CECL adoption				(3,962)	(3,962)
Balance, end of period	4,667	4,712	4,667	4,712	4,365
Ending balance: collectively evaluated for impairment	4,667	4,712	4,667	4,712	4,365
Ending balance: individually evaluated for impairment	4,685		4,685		2,979
Ending balance: collectively evaluated for impairment	673,344	553,694	673,344	553,694	547,580
Total	678,029	553,694	678,029	553,694	550,559
Nonresidential
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	2,297	3,238	3,176	2,724	2,724
Provision (benefit) charged to expense	844	44	(35)	(20)	(126)
Impact of CECL adoption				578	578
Charge-offs	(7)		(7)
Balance, end of period	3,134	3,282	3,134	3,282	3,176
Ending balance: collectively evaluated for impairment	3,134	3,282	3,134	3,282	3,176
Ending balance: collectively evaluated for impairment	383,277	321,472	383,277	321,472	342,343
Total	383,277	321,472	383,277	321,472	342,343
Construction and Land
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	6,796	3,189	4,807	2,683	2,683
Provision (benefit) charged to expense	21	859	2,010	2,276	3,035
Impact of CECL adoption				(911)	(911)
Balance, end of period	6,817	4,048	6,817	4,048	4,807
Ending balance: collectively evaluated for impairment	6,817	4,048	6,817	4,048	4,807
Ending balance: individually evaluated for impairment	4,807	6,657	4,807	6,657	6,659
Ending balance: collectively evaluated for impairment	626,654	404,726	626,654	404,726	497,266
Total	631,461	411,383	631,461	411,383	503,925
Business Loans
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	987	450	531	120	120
Provision (benefit) charged to expense	183	99	683	193	235
Impact of CECL adoption				236	236
Charge-offs	(450)		(502)		(63)
Recoveries	1	3	9	3	3
Balance, end of period	721	552	721	552	531
Ending balance: individually evaluated for impairment	180	204	180	204	161
Ending balance: collectively evaluated for impairment	541	348	541	348	370
Ending balance: individually evaluated for impairment	180	209	180	209	165
Ending balance: collectively evaluated for impairment	28,319	18,207	28,319	18,207	19,614
Total	28,499	18,416	28,499	18,416	19,779
Consumer
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	3,662	9,630	6,848	15,458	15,458
Provision (benefit) charged to expense	(610)	(86)	(2,122)	(2,029)	(2,142)
Impact of CECL adoption				57	57
Charge-offs	(634)	(1,592)	(2,683)	(6,092)	(7,227)
Recoveries	194	80	569	638	702
Balance, end of period	2,612	8,032	2,612	8,032	6,848
Ending balance: collectively evaluated for impairment	2,612	8,032	2,612	8,032	6,848
Ending balance: collectively evaluated for impairment	4,021	10,416	4,021	10,416	8,966
Total	$ 4,021	$ 10,416	$ 4,021	$ 10,416	$ 8,966

Loans Receivable and Allowanc_9

Loans Receivable and Allowance for Credit Losses - Information Relates to Impaired Loans (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	$ 11,874	$ 9,376	$ 12,687
Recorded Investment With No Allowance	11,795	8,738	12,113
Recorded Investment With Allowance	180	658	613
Total Recorded Investment	11,975	9,396	12,726
Related Allowance	180	275	233
Average Recorded Investment	12,982	16,488	14,788
Interest Income Recognized on Cash Basis	1,085	40	233
1-4 Family Residential
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	2,284	2,517	2,906
Recorded Investment With No Allowance	2,303	2,081	2,475
Recorded Investment With Allowance		449	448
Total Recorded Investment	2,303	2,530	2,923
Related Allowance		71	72
Average Recorded Investment	2,452	6,478	4,812
Interest Income Recognized on Cash Basis	19	40	82
Multifamily Residential
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	4,603		2,966
Recorded Investment With No Allowance	4,685		2,979
Total Recorded Investment	4,685		2,979
Average Recorded Investment	4,379	958	1,463
Interest Income Recognized on Cash Basis	5		151
Nonresidential Properties
Financing Receivable Impaired [Line Items]
Average Recorded Investment	317	531	198
Construction and Land
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	4,807	6,650	6,650
Recorded Investment With No Allowance	4,807	6,657	6,659
Total Recorded Investment	4,807	6,657	6,659
Average Recorded Investment	5,612	8,438	8,211
Interest Income Recognized on Cash Basis	1,059
Business Loans
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	180	209	165
Recorded Investment With Allowance	180	209	165
Total Recorded Investment	180	209	165
Related Allowance	180	204	161
Average Recorded Investment	222	$ 83	$ 104
Interest Income Recognized on Cash Basis	$ 2

Loans Receivable and Allowan_10

Loans Receivable and Allowance for Credit Losses - Schedule of Total Exposure (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Microloans Receivable from Grain
Microloans originated - put back (inception-to-September 30, 2024)	$ 23,932
Write-downs, net of recoveries (inception-to-date as of September 30, 2024)	(15,287)
Cash receipts (inception-to-September 30, 2024)	(6,819)
Grant/reserve (inception-to-September 30, 2024)	(1,826)
Microloans Receivable from Borrowers
Microloans receivable as of September 30, 2024	3,033
Allowance for credit losses as of September 30, 2024	(2,570)	[1]
Microloans, net of allowance for credit losses as of September 30, 2024	463
Investments
Investment in Grain	1,000
Investment write-off in the third quarter of 2022	(1,000)
Total exposure related to microloans as of September 30, 2024	$ 463	[2]
[1] Excludes $ 1.5 million of security deposits by microloan borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions. Total remaining exposure to microloan borrowers. These loans are now serviced by the Bank.

Loans Receivable and Allowan_11

Loans Receivable and Allowance for Credit Losses - Schedule of Total Exposure (Parenthetical) (Details) $ in Millions	Sep. 30, 2024 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Security deposits	$ 1.5

Loans Receivable and Allowan_12

Loans Receivable and Allowance for Credit Losses - Summary of Allowance for Off-Balance-Sheet Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses on unfunded commitment at beginning of period	$ 3,613	$ 354
Impact on CECL adoption	0	948
(Benefit) provision for credit losses	(581)	2,311
Allowance for credit losses on unfunded commitment at end of period	$ 3,032	$ 3,613

Summary of Premises and Equipme

Summary of Premises and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total premises and equipment	$ 16,843	$ 16,053

Leases - Additional Information

Leases - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 Lease
Lessee, Lease, Description [Line Items]
Operating lease, description	Our leases have remaining lease terms ranging from less than one year to approximately 14.3 years, none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of lease term.
Lessee, non-cancelable operating lease agreements expiration year	2038
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease terms	14 years 3 months 18 days
Branches and Office Spaces
Lessee, Lease, Description [Line Items]
Number of operating leases	17
Equipment
Lessee, Lease, Description [Line Items]
Number of operating leases	6

Leases - Summary of Supplementa

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease ROU assets	$ 29,785	$ 31,272
Operating lease liabilities	$ 31,343	$ 32,684
Weighted-average remaining lease term-operating leases	12 years	12 years 7 months 6 days
Weighted average discount rate-operating leases	4.90%	4.90%

Leases - Summary of Lease Expen

Leases - Summary of Lease Expense and Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Total lease cost	$ 1,090	$ 1,070	$ 3,245	$ 3,246
Occupancy and equipment
Lessee, Lease, Description [Line Items]
Operating lease cost	1,035	1,029	3,082	3,123
Variable lease cost	46	32	122	94
Other operating expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	2	4	24	14
Short-term lease cost	$ 7	$ 5	$ 17	$ 15

Leases - Summary of Minimum Ann

Leases - Summary of Minimum Annual Rental Payments under Terms of Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2024	$ 981
2025	3,864
2026	3,716
2027	3,561
2028	3,594
Thereafter	25,474
Total Minimum payments required	41,190
Less: implied interest	9,847
Lease obligations	$ 31,343	$ 32,684

Deposits - Summarized Deposits

Deposits - Summarized Deposits (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Banking And Thrifts [Abstract]
Demand	[1]	$ 182,737	$ 185,151
NOW/IOLA accounts	[1]	71,445	77,909
Money market accounts		660,168	432,735
Reciprocal deposits		94,145	96,860
Savings accounts		108,941	114,139
Total NOW, money market, reciprocal and savings		934,699	721,643
Certificates of deposit of $250K or more		174,053	132,153
Brokered certificates of deposits	[2]	94,531	98,729
Listing service deposits	[2]	7,376	14,433
Certificates of deposit less than $250K		476,927	355,511
Total certificates of deposit		752,887	600,826
Total interest-bearing deposits		1,687,586	1,322,469
Total deposits		$ 1,870,323	$ 1,507,620
[1] As of December 31, 2023, $ 58.2 million were reclassified from demand to NOW/IOLA accounts. As of September 30, 2024 , there were no individual listing service deposits amounting to $ 250,000 or more. As of December 31, 2023, there were $ 0.3 million in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 .

Deposits - Summarized Deposit_2

Deposits - Summarized Deposits (Parenthetical) (Details) - USD ($)		Sep. 30, 2024	Dec. 31, 2023
Time Deposits [Line Items]
Amount reclassified from demand to NOW/IOLA accounts			$ 58,200,000
Individual brokered certification of deposit		$ 0	300,000
Listing service deposits	[1]	7,376,000	14,433,000
Brokered certificates of deposits	[1]	94,531,000	98,729,000
Minimum
Time Deposits [Line Items]
Listing service deposits		250,000	$ 250,000
Maximum
Time Deposits [Line Items]
Brokered certificates of deposits		$ 250,000
[1] As of September 30, 2024 , there were no individual listing service deposits amounting to $ 250,000 or more. As of December 31, 2023, there were $ 0.3 million in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 .

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Banking And Thrifts [Abstract]
2024	$ 329,489
2025	321,575
2026	49,968
2027	46,753
2028	3,219
Thereafter	1,883
Total certificates of deposit	$ 752,887	$ 600,826

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Banking And Thrifts [Abstract]
Overdrawn deposit reclassified to loans amounted	$ 0.1	$ 0.1

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Line Of Credit Facility [Line Items]
Advance from the Federal Home Loan Bank	$ 580,400,000		$ 580,400,000		$ 380,400,000
Interest expense on FHLBNY advances	6,800,000	$ 7,000,000	21,900,000	$ 18,500,000
Overnight Line of Credit Advance
Line Of Credit Facility [Line Items]
Advance from the Federal Home Loan Bank	0		0		0
Federal Reserve Bank of New York (FRBNY)
Line Of Credit Facility [Line Items]
Outstanding term advances from FRBNY	$ 0		$ 0		$ 304,000,000

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowed Funds FHLBNY and Correspondent Bank Advances Maturity and Call Date (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Line Of Credit Facility [Line Items]
2024	$ 59,321	$ 363,321
2025	50,000	50,000
2026	200,000
2027	212,000	212,000
2028	9,100	9,100
Thereafter	50,000	50,000
Total	580,421	684,421
2024	59,321	363,321
2025	50,000	50,000
2026	200,000
2027	212,000	212,000
2028	9,100	9,100
Thereafter	50,000	50,000
Total	$ 580,421	$ 684,421
2024	4%	4.55%
2025	4.41%	4.41%
2026	4.25%
2027	3.44%	3.44%
2028	3.84%	3.84%
Thereafter	3.35%	3.35%
Total	3.86%	4.10%

Derivatives and Hedging - Addit

Derivatives and Hedging - Additional Information (Details) $ in Thousands		12 Months Ended
	Oct. 12, 2023 USD ($)	Dec. 31, 2023 USD ($) Contracts	Sep. 30, 2024 USD ($)
Derivative [Line Items]
Number of derivative financial instruments contracts | Contracts		2
Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Notional amount		$ 250,000	$ 250,000
Interest Rate Swap One
Derivative [Line Items]
Interest rate swap period	2 years
Interest rate swap effective date	Oct. 12, 2023
Interest rate swap terminated date	Nov. 01, 2025
Notional amount	$ 150,000
Fixed rate of interest	4.885%
Interest Rate Swap Two
Derivative [Line Items]
Interest rate swap period	3 years
Interest rate swap effective date	Oct. 12, 2023
Interest rate swap terminated date	Nov. 01, 2026
Notional amount	$ 100,000
Fixed rate of interest	4.62%

Derivatives and Hedging - Sched

Derivatives and Hedging - Schedule of Notional Amount and Fair Value of Derivatives Designated as Hedging Instruments (Details) - Derivatives Designated as Hedging Instruments - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional	$ 250,000	$ 250,000
Fair value of derivative assets	$ 4,352	$ 4,435
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Financing Receivable, after Allowance for Credit Loss	Financing Receivable, after Allowance for Credit Loss
Fair value of derivative liabilities	$ 4,352	$ 4,435
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities	Other Liabilities
Interest Rate Swap Contracts
Derivative [Line Items]
Notional	$ 250,000	$ 250,000
Fair value of derivative assets	4,352	4,435
Fair value of derivative liabilities	$ 4,352	$ 4,435

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
State and local:
(Benefit) provision for income taxes	$ 638	$ 1,728	$ 3,181	$ 2,059

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Differences Between Federal Income Tax Rate and Total Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
(Benefit) provision for income taxes	$ 638	$ 1,728	$ 3,181	$ 2,059

Income Taxes - Significant Defe

Income Taxes - Significant Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred tax liabilities:
Net deferred tax assets	$ 11,845	$ 14,332

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 2,152	$ 2,590	$ 7,683	$ 2,834
Common shares outstanding for basic EPS:
Weighted average common shares outstanding	23,814,505	23,774,317	23,805,066	24,456,108
Less: Weighted average unallocated Employee Stock Ownership Plan (ESOP) shares	1,368,496	1,502,241	1,401,808	1,535,428
Basic weighted average common shares outstanding	22,446,009	22,272,076	22,403,258	22,920,680
Basic earnings per common share	$ 0.1	$ 0.12	$ 0.34	$ 0.12
Potential dilutive common shares:
Add: Dilutive effect of restricted stock awards and stock options	166,019	77,141	62,920	42,276
Diluted weighted average common shares outstanding	22,612,028	22,349,217	22,466,178	22,962,956
Diluted earnings per common share	$ 0.1	$ 0.12	$ 0.34	$ 0.12

Commitments, Contingencies an_3

Commitments, Contingencies and Credit Risk - Financial Instruments Whose Contractual Amounts Represent Credit Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	$ 486,503	$ 591,507
Commitments to Grant Mortgage Loans
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	427,648	529,768
Unfunded Commitments Under Lines of Credit
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	$ 58,855	$ 61,739

Commitments, Contingencies an_4

Commitments, Contingencies and Credit Risk - Additional Information (Details) - USD ($)	1 Months Ended
	Apr. 30, 2022	Dec. 31, 2021	Sep. 30, 2024
Loss Contingencies [Line Items]
Repurchase or indemnification requests for loans sold			$ 0
Unfunded Commitments with Oaktree
Loss Contingencies [Line Items]
Amount committed to invest		$ 5,000,000
Total unfunded commitment			1,900,000
Unfunded Commitments with Silvergate
Loss Contingencies [Line Items]
Amount committed to invest	$ 5,200,000
Total unfunded commitment			$ 1,900,000

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans held for sale, at fair value	$ 9,566,000	$ 9,980,000
Aggregate unpaid principal balance	9,500,000
Fair value, transfers into Level 3 assets	0	0
Fair value, transfers out of Level 3 assets	$ 0	$ 0

Fair Value - Assets Measured at

Fair Value - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	$ 9,566	$ 9,980
Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	124,923	134,317
Available-for-sale securities measure at fair value on recurring basis	9,566	9,980
Fair Value Measurement Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	2,869	3,320
Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	122,054	130,997
Available-for-sale securities measure at fair value on recurring basis	9,566	9,980
Interest Rate Swap | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	4,352	4,435
Interest Rate Swap | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	4,352	4,435
U.S. Government Bonds | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	2,869	2,784
U.S. Government Bonds | Fair Value Measurement Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	2,869	2,784
Corporate Bonds | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	20,328	23,668
Corporate Bonds | Fair Value Measurement Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis		536
Corporate Bonds | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	20,328	23,132
Collateralized Mortgage Obligations | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	30,644	33,148
Collateralized Mortgage Obligations | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	30,644	33,148
FHLMC Certificates | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	8,191	8,681
FHLMC Certificates | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	8,191	8,681
FNMA Certificates | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	48,882	51,517
FNMA Certificates | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	48,882	51,517
GNMA Certificates | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	91	104
GNMA Certificates | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	$ 91	$ 104

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Details) - Impaired Loans - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value on nonrecurring basis	$ 11,975	$ 12,726
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value on nonrecurring basis	$ 11,975	$ 12,726

Fair Value - Estimated Fair Val

Fair Value - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value	$ 111,005	$ 119,902
Held-to-maturity securities, at amortized cost, net		461,748
Mortgage loans held for sale, at fair value	9,566	9,980
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	155,812	139,190
Available-for-sale securities, at fair value	111,005	119,902
Held-to-maturity securities, at amortized cost, net	403,736	461,748
Placements with banks	249	249
Mortgage loans held for sale, at fair value	9,566	9,980
Loans receivable, net	2,180,331	1,895,886
Accrued interest receivable	16,890	18,010
FHLBNY stock	28,515	19,377
Interest rate swap	4,352	4,435
Demand deposits	182,737	185,151	[1]
Interest-bearing deposits	934,699	721,643	[1]
Certificates of deposit	752,887	600,826
Advance payments by borrowers for taxes and insurance	13,733	10,778
Borrowings	580,421	684,421
Accrued interest payable	2,918	11,965
Interest rate swap	$ 4,352	$ 4,435
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Financing Receivable, after Allowance for Credit Loss	Financing Receivable, after Allowance for Credit Loss
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities	Other Liabilities
Fair Value Measurements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 155,812	$ 139,190
Available-for-sale securities, at fair value	111,005	119,902
Held-to-maturity securities, at amortized cost, net	398,823	450,042
Placements with banks	249	249
Mortgage loans held for sale, at fair value	9,566	9,980
Loans receivable, net	2,153,077	1,844,507
Accrued interest receivable	16,890	18,010
FHLBNY stock	28,515	19,377
Interest rate swap	4,352	4,435
Demand deposits	182,737	185,151	[1]
Interest-bearing deposits	934,699	721,643	[1]
Certificates of deposit	751,665	594,234
Advance payments by borrowers for taxes and insurance	13,733	10,778
Borrowings	577,809	674,155
Accrued interest payable	2,918	11,965
Interest rate swap	4,352	4,435
Fair Value Measurements | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	155,812	139,190
Available-for-sale securities, at fair value	2,869	3,320
FHLBNY stock	28,515	19,377
Demand deposits	182,737	185,151	[1]
Interest-bearing deposits	934,699	721,643	[1]
Fair Value Measurements | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value	108,136	116,582
Held-to-maturity securities, at amortized cost, net	398,823	450,042
Placements with banks	249	249
Mortgage loans held for sale, at fair value	9,566	9,980
Accrued interest receivable	16,890	18,010
Interest rate swap	4,352	4,435
Certificates of deposit	751,665	594,234
Advance payments by borrowers for taxes and insurance	13,733	10,778
Borrowings	577,809	674,155
Accrued interest payable	2,918	11,965
Interest rate swap	4,352	4,435
Fair Value Measurements | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, net	$ 2,153,077	$ 1,844,507
[1] A s of December 31, 2023, $ 58.2 million were reclassified from demand deposits to interest-bearing deposits.

Fair Value - Estimated Fair V_2

Fair Value - Estimated Fair Values of Financial Instruments (Parenthetical) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
Amount reclassified from demand deposits to interest bearing deposits	$ 58.2

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Additional Information (Details)	Sep. 30, 2024	Dec. 31, 2023
Disclosure Of Regulatory Capital Requirements [Abstract]
Percentage of capital buffer	13.60%	15.30%

Regulatory Capital Requiremen_4

Regulatory Capital Requirements - Summary of Actual Capital Amounts and Ratios As Compared to Regulatory Requirements (Details)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Ponce Financial Group, Inc.
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 544,272	$ 533,513
Tier 1 Capital to Risk-Weighted Assets, Actual Amount	517,274	507,042
Common Equity Tier 1 Capital Ratio, Actual Amount	292,274	282,042
Tier 1 Capital to Total Assets, Actual Amount	$ 517,274	$ 507,042
Total Capital to Risk-Weighted Assets, Actual Ratio	0.2287	0.2506
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio	0.2174	0.2382
Common Equity Tier 1 Capital Ratio, Actual Ratio	0.1228	0.1325
Tier 1 Capital to Total Assets, Actual Ratio	0.1781	0.1971
Total Capital to Risk-Weighted Assets, For Capital Adequacy Amount	$ 190,349	$ 170,302
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Amount	142,762	127,727
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Amount	107,071	95,795
Tier 1 Capital to Total Assets, For Capital Adequacy Amount	$ 116,180	$ 102,911
Total Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.08	0.08
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.06	0.06
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio	0.045	0.045
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio	0.04	0.04
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 237,936	$ 212,878
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	190,349	170,302
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	154,658	138,371
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 145,225	$ 128,639
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.10	0.10
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.08	0.08
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.065	0.065
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.05	0.05
Ponce Bank
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 505,271	$ 492,622
Tier 1 Capital to Risk-Weighted Assets, Actual Amount	478,273	466,151
Common Equity Tier 1 Capital Ratio, Actual Amount	478,273	466,151
Tier 1 Capital to Total Assets, Actual Amount	$ 478,273	$ 466,151
Total Capital to Risk-Weighted Assets, Actual Ratio	0.2161	0.233
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio	0.2045	0.2205
Common Equity Tier 1 Capital Ratio, Actual Ratio	0.2045	0.2205
Tier 1 Capital to Total Assets, Actual Ratio	0.1619	0.1749
Total Capital to Risk-Weighted Assets, For Capital Adequacy Amount	$ 187,065	$ 169,153
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Amount	140,299	126,865
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Amount	105,224	95,149
Tier 1 Capital to Total Assets, For Capital Adequacy Amount	$ 118,133	$ 106,591
Total Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.08	0.08
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.06	0.06
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio	0.045	0.045
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio	0.04	0.04
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 233,831	$ 211,441
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	187,065	169,153
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	151,990	137,437
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 147,666	$ 133,239
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.10	0.10
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.08	0.08
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.065	0.065
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.05	0.05

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss), net of tax	$ 2,963	$ 2,211
Unrealized losses on available-for-sale securities, net
Accumulated Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss) beginning balance	(15,649)	(17,860)
Other comprehensive income (loss), net of tax	2,963	2,211
Accumulated other comprehensive income (loss) ending balance	(12,686)	(15,649)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss) beginning balance	(15,649)	(17,860)
Accumulated other comprehensive income (loss) ending balance	$ (12,686)	$ (15,649)

Aggregate Loan Transactions wit

Aggregate Loan Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Receivables [Abstract]
Beginning balance	$ 9,303	$ 8,614	$ 8,810	$ 8,318
Originations	248	50	1,840	678
Payments	(49)	(851)	(1,148)	(1,183)
Ending balance	$ 9,502	$ 7,813	$ 9,502	$ 7,813

Transactions with Related Par_3

Transactions with Related Parties - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Related Party Transactions [Abstract]
Deposits from directors, executive officers and non-executive officers	$ 9	$ 8.4