Concentration of Credit Risk |
12 Months Ended |
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Dec. 31, 2022 | |
Notes to Financial Statements. | |
Concentration of Credit Risk | 18. Concentration of Credit Risk The Company’s lending is concentrated in the New York City metropolitan area. The Company evaluates each customer’s creditworthiness on a case-by-case basis under the Company’s established underwriting policies. The collateral obtained by the Company generally consists of first liens on one-to-four family residential, multi-family residential, and commercial real estate. The largest amount the Bank could lend to one borrower was approximately $137.3 million and $126.0 million at December 31, 2022 and 2021, respectively. The Bank’s largest aggregate amount of outstanding loans to one borrower was $109.4 million, and $93.8 million at December 31, 2022 and 2021, respectively, all of which were performing according to their terms. |