INVESTMENT SECURITIES (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Securities Available for Sale |
The amortized costs, gross unrealized gains and losses, and estimated fair values of investment securities available for sale and investment securities held to maturity at June 30, 2025 and December 31, 2024 as well as the ACL for investment securities held to maturity at June 30, 2025 and December 31, 2024 are summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | Investment securities available for sale: | | | | | | | | Asset-backed securities | $ | 3,038 | | | $ | 2 | | | $ | (18) | | | $ | 3,022 | | Mortgage-backed securities: | | | | | | | | U.S. Government-sponsored enterprises | 5,507 | | | — | | | (496) | | | 5,011 | | Collateralized mortgage obligations: | | | | | | | | U.S. Government-sponsored enterprises | 21,028 | | | — | | | (2,674) | | | 18,354 | | | Corporate bonds | 3,837 | | | 32 | | | — | | | 3,869 | | Total investment securities available for sale | $ | 33,410 | | | $ | 34 | | | $ | (3,188) | | | $ | 30,256 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | | ACL | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | 2,500 | | | $ | — | | | $ | (131) | | | $ | 2,369 | | | $ | 9 | | Total investment securities held to maturity | $ | 2,500 | | | $ | — | | | $ | (131) | | | $ | 2,369 | | | $ | 9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | Investment securities available for sale: | | | | | | | | Asset-backed securities | $ | 5,029 | | | $ | — | | | $ | (39) | | | $ | 4,990 | | Mortgage-backed securities: | | | | | | | | U.S. Government-sponsored enterprises | 7,791 | | | — | | | (661) | | | 7,130 | | Collateralized mortgage obligations: | | | | | | | | U.S. Government-sponsored enterprises | 18,627 | | | — | | | (3,341) | | | 15,286 | | | Corporate bonds | 8,832 | | | 53 | | | — | | | 8,885 | | Total investment securities available for sale | $ | 40,279 | | | $ | 53 | | | $ | (4,041) | | | $ | 36,291 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | | ACL | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | 2,500 | | | $ | — | | | $ | (154) | | | $ | 2,346 | | | $ | 12 | | Total investment securities held to maturity | $ | 2,500 | | | $ | — | | | $ | (154) | | | $ | 2,346 | | | $ | 12 | |
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| Schedule of Securities Held to Maturity |
The amortized costs, gross unrealized gains and losses, and estimated fair values of investment securities available for sale and investment securities held to maturity at June 30, 2025 and December 31, 2024 as well as the ACL for investment securities held to maturity at June 30, 2025 and December 31, 2024 are summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | Investment securities available for sale: | | | | | | | | Asset-backed securities | $ | 3,038 | | | $ | 2 | | | $ | (18) | | | $ | 3,022 | | Mortgage-backed securities: | | | | | | | | U.S. Government-sponsored enterprises | 5,507 | | | — | | | (496) | | | 5,011 | | Collateralized mortgage obligations: | | | | | | | | U.S. Government-sponsored enterprises | 21,028 | | | — | | | (2,674) | | | 18,354 | | | Corporate bonds | 3,837 | | | 32 | | | — | | | 3,869 | | Total investment securities available for sale | $ | 33,410 | | | $ | 34 | | | $ | (3,188) | | | $ | 30,256 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | | ACL | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | 2,500 | | | $ | — | | | $ | (131) | | | $ | 2,369 | | | $ | 9 | | Total investment securities held to maturity | $ | 2,500 | | | $ | — | | | $ | (131) | | | $ | 2,369 | | | $ | 9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | Investment securities available for sale: | | | | | | | | Asset-backed securities | $ | 5,029 | | | $ | — | | | $ | (39) | | | $ | 4,990 | | Mortgage-backed securities: | | | | | | | | U.S. Government-sponsored enterprises | 7,791 | | | — | | | (661) | | | 7,130 | | Collateralized mortgage obligations: | | | | | | | | U.S. Government-sponsored enterprises | 18,627 | | | — | | | (3,341) | | | 15,286 | | | Corporate bonds | 8,832 | | | 53 | | | — | | | 8,885 | | Total investment securities available for sale | $ | 40,279 | | | $ | 53 | | | $ | (4,041) | | | $ | 36,291 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | | ACL | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | 2,500 | | | $ | — | | | $ | (154) | | | $ | 2,346 | | | $ | 12 | | Total investment securities held to maturity | $ | 2,500 | | | $ | — | | | $ | (154) | | | $ | 2,346 | | | $ | 12 | |
`The following table summarizes investment securities with unrealized losses at June 30, 2025 aggregated by security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or Longer | | Total | | | | June 30, 2025 | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Number of Securities | | Investment securities available for sale: | | | | | | | | | | | | | | | Asset-backed securities | $ | — | | | $ | — | | | $ | 1,529 | | | $ | (18) | | | $ | 1,529 | | | $ | (18) | | | 1 | | Mortgage-backed securities: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | 2,408 | | | (17) | | | 2,603 | | | (479) | | | 5,011 | | | (496) | | | 3 | | Collateralized mortgage obligations: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | 3,231 | | | (1) | | | 15,123 | | | (2,673) | | | 18,354 | | | (2,674) | | | 8 | | | | | | | | | | | | | | | | Total investment securities available for sale | $ | 5,639 | | | $ | (18) | | | $ | 19,255 | | | $ | (3,170) | | | $ | 24,894 | | | $ | (3,188) | | | 12 | | | | | | | | | | | | | | | | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | — | | | $ | — | | | $ | 2,369 | | | $ | (131) | | | $ | 2,369 | | | $ | (131) | | | 3 | | Total investment securities held to maturity | $ | — | | | $ | — | | | $ | 2,369 | | | $ | (131) | | | $ | 2,369 | | | $ | (131) | | | 3 |
The following table summarizes investment securities with unrealized losses at December 31, 2024 aggregated by security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or Longer | | Total | | | | December 31, 2024 | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Number of Securities | | Investment securities available for sale: | | | | | | | | | | | | | | | Asset-backed securities | $ | 1,540 | | | $ | (3) | | | $ | 3,450 | | | $ | (36) | | | $ | 4,990 | | | $ | (39) | | | 3 | | Mortgage-backed securities: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | 4,412 | | | (51) | | | 2,718 | | | (610) | | | 7,130 | | | (661) | | | 3 | | Collateralized mortgage obligations: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | — | | | — | | | 15,286 | | | (3,341) | | | 15,286 | | | (3,341) | | | 7 | | Corporate bonds | — | | | — | | | — | | | — | | | — | | | — | | | 0 | | Total investment securities available for sale | $ | 5,952 | | | $ | (54) | | | $ | 21,454 | | | $ | (3,987) | | | $ | 27,406 | | | $ | (4,041) | | | 13 | | | | | | | | | | | | | | | | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | 416 | | | $ | (84) | | | $ | 1,930 | | | $ | (70) | | | $ | 2,346 | | | $ | (154) | | | 3 | | Total investment securities held to maturity | $ | 416 | | | $ | (84) | | | $ | 1,930 | | | $ | (70) | | | $ | 2,346 | | | $ | (154) | | | 3 |
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| Schedule of Investments Classified by Contractual Maturity |
The amortized cost and fair value of investment securities as of June 30, 2025 are shown in the table below by contractual maturity. Actual timing may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. | | | | | | | | | | | | | | | | | | | | | | | | | Available for Sale | | Held to Maturity | | Amortized
Cost | | Fair
Value | | Amortized
Cost | | Fair
Value | | | | | | | | | | One to five years | $ | 3,837 | | | $ | 3,869 | | $ | 1,500 | | | $ | 1,497 | | Five to ten years | — | | | — | | 1,000 | | | 872 | | Beyond ten years | 29,573 | | | 26,387 | | — | | | — | | Total | $ | 33,410 | | | $ | 30,256 | | $ | 2,500 | | | $ | 2,369 |
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| Schedule of Allowance for Credit Losses for Investment Securities |
The following table presents the activity in the ACL for investment securities HTM by major security type for the three and six months ended June 30, 2025 and June 30, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | For the Three Months Ended | | For the Six Months Ended | | Corporate Bonds | June 30, 2025 | | June 30, 2024 | | Balance at beginning of period | $ | 12 | | | $ | 12 | | | $ | 14 | | | $ | 17 | | | | | | | | | | | Provision for credit losses on HTM investment securities | (3) | | | (3) | | | — | | | (3) | | | Investment securities charge-offs | — | | | — | | | — | | | — | | | Investment securities recoveries | — | | | — | | | — | | | — | | | Balance at end of period | $ | 9 | | | $ | 9 | | | $ | 14 | | | $ | 14 | |
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| Schedule of Investment Securities With Unrealized Losses |
The following table summarizes investment securities with unrealized losses at June 30, 2025 aggregated by security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or Longer | | Total | | | | June 30, 2025 | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Number of Securities | | Investment securities available for sale: | | | | | | | | | | | | | | | Asset-backed securities | $ | — | | | $ | — | | | $ | 1,529 | | | $ | (18) | | | $ | 1,529 | | | $ | (18) | | | 1 | | Mortgage-backed securities: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | 2,408 | | | (17) | | | 2,603 | | | (479) | | | 5,011 | | | (496) | | | 3 | | Collateralized mortgage obligations: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | 3,231 | | | (1) | | | 15,123 | | | (2,673) | | | 18,354 | | | (2,674) | | | 8 | | | | | | | | | | | | | | | | Total investment securities available for sale | $ | 5,639 | | | $ | (18) | | | $ | 19,255 | | | $ | (3,170) | | | $ | 24,894 | | | $ | (3,188) | | | 12 | | | | | | | | | | | | | | | | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | — | | | $ | — | | | $ | 2,369 | | | $ | (131) | | | $ | 2,369 | | | $ | (131) | | | 3 | | Total investment securities held to maturity | $ | — | | | $ | — | | | $ | 2,369 | | | $ | (131) | | | $ | 2,369 | | | $ | (131) | | | 3 |
The following table summarizes investment securities with unrealized losses at December 31, 2024 aggregated by security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or Longer | | Total | | | | December 31, 2024 | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Fair Value | | Unrealized Losses | | Number of Securities | | Investment securities available for sale: | | | | | | | | | | | | | | | Asset-backed securities | $ | 1,540 | | | $ | (3) | | | $ | 3,450 | | | $ | (36) | | | $ | 4,990 | | | $ | (39) | | | 3 | | Mortgage-backed securities: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | 4,412 | | | (51) | | | 2,718 | | | (610) | | | 7,130 | | | (661) | | | 3 | | Collateralized mortgage obligations: | | | | | | | | | | | | | | | U.S. Government-sponsored enterprises | — | | | — | | | 15,286 | | | (3,341) | | | 15,286 | | | (3,341) | | | 7 | | Corporate bonds | — | | | — | | | — | | | — | | | — | | | — | | | 0 | | Total investment securities available for sale | $ | 5,952 | | | $ | (54) | | | $ | 21,454 | | | $ | (3,987) | | | $ | 27,406 | | | $ | (4,041) | | | 13 | | | | | | | | | | | | | | | | Investment securities held to maturity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate bonds | $ | 416 | | | $ | (84) | | | $ | 1,930 | | | $ | (70) | | | $ | 2,346 | | | $ | (154) | | | 3 | | Total investment securities held to maturity | $ | 416 | | | $ | (84) | | | $ | 1,930 | | | $ | (70) | | | $ | 2,346 | | | $ | (154) | | | 3 |
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