| Summary of Amortized Cost and Fair Values of Investment Securities Available for Sale |
The following tables present amortized cost, fair values, and gross unrealized gains and losses of investment securities AFS as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
(Dollars in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
$ |
211,685 |
|
|
$ |
97 |
|
|
$ |
(33,170 |
) |
|
$ |
178,612 |
|
U.S. Treasury and agencies |
|
|
79,082 |
|
|
|
— |
|
|
|
(8,094 |
) |
|
|
70,988 |
|
State and municipal |
|
|
49,763 |
|
|
|
— |
|
|
|
(6,396 |
) |
|
|
43,367 |
|
Corporate bonds |
|
|
37,425 |
|
|
|
43 |
|
|
|
(2,477 |
) |
|
|
34,991 |
|
Total investment securities |
|
$ |
377,955 |
|
|
$ |
140 |
|
|
$ |
(50,137 |
) |
|
$ |
327,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
(Dollars in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
$ |
199,453 |
|
|
$ |
— |
|
|
$ |
(35,015 |
) |
|
$ |
164,438 |
|
U.S. Treasury and agencies |
|
|
79,430 |
|
|
|
— |
|
|
|
(9,975 |
) |
|
|
69,455 |
|
State and municipal |
|
|
50,233 |
|
|
|
— |
|
|
|
(7,296 |
) |
|
|
42,937 |
|
Corporate bonds |
|
|
38,453 |
|
|
|
— |
|
|
|
(3,248 |
) |
|
|
35,205 |
|
Total investment securities |
|
$ |
367,569 |
|
|
$ |
— |
|
|
$ |
(55,534 |
) |
|
$ |
312,035 |
|
|
| Summary of Investments Classified by Contractual Maturity Date |
The following table presents the amortized cost and fair value of securities available for sale by contractual maturity as of the date stated. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
(Dollars in thousands) |
|
Amortized
Cost |
|
|
Fair
Value |
|
Due in one year or less |
|
$ |
3,146 |
|
|
$ |
3,079 |
|
Due after one year through five years |
|
|
61,242 |
|
|
|
57,450 |
|
Due after five years through ten years |
|
|
103,510 |
|
|
|
91,549 |
|
Due after ten years |
|
|
210,057 |
|
|
|
175,880 |
|
Total |
|
$ |
377,955 |
|
|
$ |
327,958 |
|
|
| Summary of Unrealized Losses |
The following tables present fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
Total |
|
(Dollars in thousands) |
|
Number of Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
Mortgage backed securities |
|
|
88 |
|
|
$ |
17,874 |
|
|
$ |
(55 |
) |
|
$ |
147,641 |
|
|
$ |
(33,115 |
) |
|
$ |
165,515 |
|
|
$ |
(33,170 |
) |
U.S. Treasury and agencies |
|
|
29 |
|
|
|
— |
|
|
|
— |
|
|
|
70,987 |
|
|
|
(8,094 |
) |
|
|
70,987 |
|
|
|
(8,094 |
) |
State and municipal |
|
|
67 |
|
|
|
1,286 |
|
|
|
(7 |
) |
|
|
41,221 |
|
|
|
(6,389 |
) |
|
|
42,507 |
|
|
|
(6,396 |
) |
Corporate bonds |
|
|
37 |
|
|
|
— |
|
|
|
— |
|
|
|
30,847 |
|
|
|
(2,477 |
) |
|
|
30,847 |
|
|
|
(2,477 |
) |
Total |
|
|
221 |
|
|
$ |
19,160 |
|
|
$ |
(62 |
) |
|
$ |
290,696 |
|
|
$ |
(50,075 |
) |
|
$ |
309,856 |
|
|
$ |
(50,137 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
Total |
|
(Dollars in thousands) |
|
Number of Securities |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
Mortgage backed securities |
|
|
85 |
|
|
$ |
11,637 |
|
|
$ |
(107 |
) |
|
$ |
152,802 |
|
|
$ |
(34,908 |
) |
|
$ |
164,439 |
|
|
$ |
(35,015 |
) |
U.S. Treasury and agencies |
|
|
29 |
|
|
|
— |
|
|
|
— |
|
|
|
69,453 |
|
|
|
(9,975 |
) |
|
|
69,453 |
|
|
|
(9,975 |
) |
State and municipal |
|
|
70 |
|
|
|
2,040 |
|
|
|
(42 |
) |
|
|
40,531 |
|
|
|
(7,254 |
) |
|
|
42,571 |
|
|
|
(7,296 |
) |
Corporate bonds |
|
|
42 |
|
|
|
3,803 |
|
|
|
(21 |
) |
|
|
30,653 |
|
|
|
(3,227 |
) |
|
|
34,456 |
|
|
|
(3,248 |
) |
Total |
|
|
226 |
|
|
$ |
17,480 |
|
|
$ |
(170 |
) |
|
$ |
293,439 |
|
|
$ |
(55,364 |
) |
|
$ |
310,919 |
|
|
$ |
(55,534 |
) |
|