

	June 30, 2025
($ in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	38,425	$	—	$	(3,619)	$	34,806
Residential collateralized mortgage obligations	149,107		573		(14,807)		134,873
Municipal securities - tax exempt	5,884		—		(563)		5,321
Total AFS debt securities	$	193,416	$	573	$	(18,989)	$	175,000



	December 31, 2024
($ in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	41,521	$	—	$	(4,445)	$	37,076
Residential collateralized mortgage obligations	160,187		312		(17,458)		143,041
Municipal securities - tax exempt	5,830		37		(75)		5,792
Total AFS debt securities	$	207,538	$	349	$	(21,978)	$	185,909

Expected maturities may differ from contractual maturities on certain securities as the issuers and borrowers of the underlying collateral may have the right to call or prepay obligations with or without call or prepayment penalties. The amortized cost and fair value of AFS debt securities as of June 30, 2025, by contractual maturity, are shown below:

The following tables present the fair values and the associated gross unrealized losses of AFS debt securities, aggregated by length of time that the securities have been in a continuous unrealized loss position as of June 30, 2025 and December 31, 2024:



	June 30, 2025
	Less Than 12 Months				12 Months or Longer				Total
($ in thousands)	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	4,915	$	(87)	$	29,891	$	(3,532)	$	34,806	$	(3,619)
Residential collateralized mortgage obligations	5,359		(11)		83,708		(14,796)		89,067		(14,807)
Municipal securities - tax exempt	3,688		(352)		1,633		(211)		5,321		(563)
Total AFS debt securities	$	13,962	$	(450)	$	115,232	$	(18,539)	$	129,194	$	(18,989)



	December 31, 2024
	Less Than 12 Months				12 Months or Longer				Total
($ in thousands)	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	5,442	$	(133)	$	31,634	$	(4,312)	$	37,076	$	(4,445)
Residential collateralized mortgage obligations	27,614		(214)		93,236		(17,244)		120,850		(17,458)
Municipal securities - tax exempt	895		(19)		1,788		(56)		2,683		(75)
Total AFS debt securities	$	33,951	$	(366)	$	126,658	$	(21,612)	$	160,609	$	(21,978)

The Company monitors credit quality of individual AFS debt securities by evaluating a variety of methods and utilizing such information in our evaluation of the appropriateness of the allowance for credit losses for our AFS debt securities. The gross unrealized losses presented in the preceding tables were primarily attributable to interest rate movement. The Company's portfolio was comprised of securities issued, guaranteed, or otherwise supported by the U.S. government. As such, it was expected that the AFS debt securities would not be settled at a price less than the amortized cost. Further, the Company intended to hold the AFS debt securities, and it was not more-likely-than-not that it would be required to sell the AFS debt securities before recovery of amortized cost. Approximately 97% of the AFS debt securities were residential mortgage-backed securities and collateralized mortgage obligations that were issued by U.S. government-sponsored agencies, such as Ginnie Mae, Fannie Mae and Freddie Mac. The remaining 3% of the AFS debt securities are tax-exempt municipal securities. Accordingly, for these securities, the Company did not have allowance for credit losses as of June 30, 2025 and December 31, 2024.

The amortized cost of the AFS debt securities excluded accrued interest receivables of $531 thousand and $569 thousand as of June 30, 2025 and December 31, 2024, respectively, which are included in Accrued interest receivable on the consolidated balance sheets. For additional information on the Company's accounting policy related to securities' accrued interest receivables and impairment, see Note 1 —Business and Basis of Presentation to the consolidated financial statements in the 2024 Annual Report on Form 10-K.

As of June 30, 2025 and December 31, 2024, there were no pledged securities to secure public deposits, borrowing and letters of credit from the FHLB and the Board of Governors of the Federal Reserve System, and for other purposes required or permitted by law.



($ in thousands)	June 30, 2025		December 31, 2024
FHLB stock	$	13,155	$	12,615
Pacific Coast Bankers Bank ("PCBB") stock	190		190
Mutual fund - Community Reinvestment Act ("CRA") qualified (1)	3,651		3,532
Time deposits placed in other banks	105		100
Total other investments	$	17,101	$	16,437

(1)The Company recorded $12 thousand and $64 thousand unrealized gains for the three and six months ended June 30, 2025, respectively, and $14 thousand and $50 thousand unrealized losses for the three and six months ended June 30, 2024, respectively. The unrealized gains (losses) of the mutual fund are included in other income in the consolidated statements of income.