Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 15. SUBSEQUENT EVENTS
Subsequent to the quarter ended June 30, 2025, CBB entered into a settlement agreement in a lawsuit in which CBB was plaintiff involving allegations of trade secrets misappropriation which will result in the Bank's receipt of payments totaling $6 million from the defendant.
In addition, subsequent to entering into the settlement agreement, the Company decided to sell and has completed the sale of available-for-sale investment securities with a total carrying value of approximately $50 million, with book yields below 1.5%. The security sales transactions resulted in a net realized pre-tax loss of approximately $6 million, which will be reflected in the Company's third quarter financial results. |