v3.25.3
Fair Value Measures (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value
The following tables present assets and liabilities that were measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024, and that were included in the Condensed Consolidated Statements of Condition at those dates:
September 30, 2025

Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)(1)
Total Fair Value
Assets:
Mortgage-related debt securities available for sale:
GSE CMOs
$— $11,161 $— $11,161 
GSE certificates— 1,005 — 1,005 
Private label CMOs
— 138 23 161 
Total mortgage-related debt securities$— $12,304 $23 $12,327 
Other debt securities available for sale:
GSE debentures$— $1,286 $— $1,286 
U. S. treasury obligations
1,014 — — 1,014 
Asset-backed securities— 218 — 218 
Corporate bonds— 157 — 157 
Municipal bonds, foreign notes, and capital trust
— 50 — 50 
Total other debt securities$1,014 $1,711 $— $2,725 
Total debt securities available for sale$1,014 $14,015 $23 $15,052 
Equity securities:
Mutual funds and common stock$41 $14 $— $55 
Total equity securities$41 $14 $— $55 
Total securities$1,055 $14,029 $23 $15,107 
Loans held for sale
Commercial real estate(2)
$— $65 $— $65 
One-to-four family first mortgage
— 184 — 184 
Derivative assets
Interest rate swaps
— 20 — 20 
Rate lock commitments
— — 3 3 
Total assets at fair value$1,055 $14,298 $26 $15,379 
Derivative liabilities
Interest rate swaps
$— $21 $— $21 
Mortgage-backed securities forwards— 1 — 1 
Total liabilities at fair value$— $22 $— $22 
(1)The change in the fair value due to significant unobservable inputs was immaterial.
(2)Includes ADC loans.
December 31, 2024

Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)(1)
Total Fair Value
Assets:
Mortgage-related debt securities available for sale:
GSE CMOs
$— $7,304 $— $7,304 
GSE certificates—1,106—1,106
Private label CMOs
—13033163
Total mortgage-related debt securities$— $8,540 $33 $8,573 
Other debt securities available for sale:
GSE debentures$— $1,203 $— $1,203 
Corporate bonds—308—308
Asset-backed securities—236—236
Municipal bonds, foreign notes, and capital trust
—82—82
Total other debt securities$— $1,829 $— $1,829 
Total debt securities available for sale$— $10,369 $33 $10,402 
Equity securities:
Mutual funds and common stock$— $14 $— $14 
Total equity securities$— $14 $— $14 
Total securities$— $10,383 $33 $10,416 
Loans held for sale
One-to-four family first mortgage$— $382 $— $382 
Commercial real estate(2)
—182—182 
Derivative assets
Interest rate swaps
— 15 — 15 
Mortgage-backed securities forwards— 7 — 7 
Rate lock commitments
— — 3 3 
Mortgage servicing rights— — 26 26 
Total assets at fair value$— $10,969 $62 $11,031 
Derivative liabilities
Interest rate swaps and swaptions$— $30 $— $30 
Rate lock commitments
— — 3 3 
Mortgage-backed securities forwards— 2 — 2 
Total liabilities at fair value$— $32 $3 $35 
(1)The change in the fair value due to significant unobservable inputs was immaterial.
(2)Includes ADC loans.
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis
The following tables present assets that were measured at fair value on a non-recurring basis:

Fair Value Measurements at September 30, 2025 Using

Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair Value
Loans held for investment(1)
$— $— $3,083 $3,083 
Loans held for sale— 286 — 286 
Other assets(2)
— — 32 32 
Total$— $286 $3,115 $3,401 
(1)Represents the fair value of impaired loans, based primarily on the value of the collateral less costs to sell.
(2)Primarily comprised of equity securities without readily determinable fair values.

Fair Value Measurements at December 31, 2024 Using

Quoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)Total Fair Value
Loans held for investment(1)
$— $— $2,469 $2,469 
Loans held for sale— 335 — 335 
Other assets (2)
— — 52 52 
Total$— $335 $2,521 $2,856 
(1)Represents the fair value of impaired loans, based primarily on the value of the collateral less costs to sell.
(2)Represents the fair value of repossessed assets, based on the appraised value of the collateral subsequent to its initial classification as repossessed assets and equity securities without readily determinable fair values. These equity securities are classified as Level 3 due to the infrequency of the observable prices and/or the restrictions on the shares.
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments
The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Company’s Condensed Consolidated Statements of Condition:

September 30, 2025
Fair Value Measurement Using

Carrying ValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents$8,484 $8,484 $8,484 $— $— 
FHLB and FRB-NY stock (1)
1,018 1,018 — 1,018 — 
Loans and leases held for investment, net(2)
61,590 57,767 — — 57,767 
Financial Liabilities:
Deposits$69,152 $69,136 $46,783 
(3)
$22,353 
(4)
$— 
Borrowed funds13,182 12,965 — 12,965 — 
(1)Carrying value and estimated fair value are at cost.
(2)Carrying value and estimated fair value include impaired loans held for investment.
(3)Includes interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
(4)Includes CDs.


December 31, 2024
Fair Value Measurement Using

Carrying ValueEstimated Fair ValueQuoted Prices in Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents$15,430 $15,430 $15,430 $— $— 
FHLB and FRB-NY stock (1)
1,1461,146— 1,146— 
Loans and leases held for investment, net(2)
67,07161,831— — 61,831
Financial Liabilities:
Deposits$75,870 $75,894 $48,546 
(3)
$27,348 
(4)
$— 
Borrowed funds14,42614,217— 14,217— 
(1)Carrying value and estimated fair value are at cost.
(2)Carrying value and estimated fair value include impaired loans held for investment.
(3)Includes interest-bearing checking and money market accounts, savings accounts, and non-interest-bearing accounts.
(4)Includes CDs.
Schedule of Changes in Fair Value Included in Earnings - Fair Value Option
The following table reflects the change in fair value included in earnings of financial instruments for which the fair value option has been elected:


Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Assets:
Loans held for sale:
Net gain on loan sales and securitizations
$5 $63 $18 $78 
Schedule of Differences Between Aggregate Fair Value and Aggregate Remaining Contractual Principal Balance Outstanding - Fair Value Option
The following table reflects the difference between the aggregate fair value and aggregate remaining contractual principal balance outstanding for assets and liabilities for which the fair value option has been elected:

September 30, 2025December 31, 2024

Unpaid Principal BalanceFair ValueFair Value Over / (Under) UPBUnpaid Principal BalanceFair ValueFair Value Over / (Under) UPB
Assets:
Non-accrual loans:
Loans held for sale$4 $4 $— $4 $4 $— 
Total non-accrual loans$4 $4 $— $4 $4 $— 
Accrual loans:
Loans held for sale$243 $245 $2 $553 $560 $7 
Loans held-for-investment— — — 67 66 (1)
Total accrual loans$243 $245 $2 $620 $626 $6 
Total loans:
Loans held for sale$247 $249 $2 $557 $564 $7 
Loans held-for-investment— — — 67 — 66 (1)
Total loans$247 $249 $2 $624 $630 $6