12 unchanged sentences
The Company’s pricing strategy
−Removed: may vary depending upon current funding needs and the ability of the Company to fund operations through alternative sources, primarily by accessing short-term lines of credit with the FHLBNY during periods of pricing dislocation.
+Added: may vary depending upon current funding needs and the ability of the Company to fund operations through alternative sources, primarily by accessing short-term lines of credit with FHLBNY during periods of pricing dislocation.
Quantitative Analysis.
12 unchanged sentences
• Higher-balance demand deposit tiers and promotional demand accounts move at 50% to 75% of the rate ramp in either direction, subject to certain interest rate floors.
−Removed: The following table sets forth the results of a twelve-month net interest income projection model as of March 31, 2026 (dollars in thousands):
+Added: The following table sets forth the results of a twelve-month net interest income projection model as of June 30, 2026 (dollars in thousands):
Change in interest rates (basis points) - Rate Ramp Net Interest Income
6 unchanged sentences
The interest rate risk position of the Company is relatively neutral.
−Removed: As a result, the preceding table indicates that, as of March 31, 2026, in the event of a 200 basis point increase in interest rates, whereby rates ramp up evenly over a twelve-month period, net interest income would decrease 1.6%, or $13.2 million.
−Removed: In the event of a 200 basis point decrease in interest rates, whereby rates ramp downward evenly over a twelve-month period, net interest income would increase 1.0%, or $8.3 million over the same period.
+Added: As a result, the preceding table indicates that, as of June 30, 2026, in the event of a 200 basis point increase in interest rates, whereby rates ramp up evenly over a twelve-month period, net interest income would decrease 1.8%, or $15.5 million.
+Added: In the event of a 200 basis point decrease in interest rates, whereby rates ramp downward evenly over a twelve-month period, net interest income would decrease 1.7%, or $14.5 million over the same period.
In this downward rate scenario, rates on deposits have a repricing floor of zero.
Another measure of interest rate sensitivity is to model changes in economic value of equity through the use of immediate and sustained interest rate shocks.
−Removed: The following table illustrates the result of the economic value of equity model as of March 31, 2026 (dollars in thousands):
+Added: The following table illustrates the result of the economic value of equity model as of June 30, 2026 (dollars in thousands):
Present Value of Equity Present Value of Equity as Percent of Present Value of Assets
4 unchanged sentences
-100 4,207,491 (27,388) (0.6) 16.1 (2.5)
−Removed: Flat 4,139,986 — — 16.4 —
+Added: Static 4,234,879 — — 16.5 —
+100 4,203,089 (31,790) (0.8) 16.7 1.2
+200 4,162,672 (72,207) (1.7) 16.9 2.1
−Removed: The preceding table indicates that as of March 31, 2026, in the event of an immediate and sustained 200 basis point increase in interest rates, the present value of equity is projected to decrease 0.6%, or $26.2 million.
+Added: The preceding table indicates that as of June 30, 2026, in the event of an immediate and sustained 200 basis point increase in interest rates, the present value of equity is projected to increase 1.7%, or $72.2 million.
If rates were to decrease 200 basis points, the present value of equity would decrease 2.5%, or $107.7 million.
Certain shortcomings are inherent in the methodologies used in the above interest rate risk measurements.
−Removed: Modeling changes in net interest income requires the use of certain assumptions regarding prepayment and deposit decay rates, which may or may not reflect future loan prepayment and deposit withdrawal activity.
+Added: Modeling changes in net interest income requires the use of certain assumptions regarding prepayment and deposit decay rates, which may or may not reflect the manner in which actual yields and costs respond to changes in market interest rates.
While management believes such assumptions are reasonable, there can be no assurance that assumed prepayment rates and decay rates will approximate actual future loan prepayment and deposit withdrawal activity.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.