Investment Securities (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Investment Securities |
|
| Schedule of amortized cost and fair value of investment securities |
| | | | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | | | Amortized | | Unrealized | | Unrealized | | ACL | | Fair | | | Cost | | Gains | | Losses | | Adjustment | | Value | Available-for-sale June 30, 2025 | | | | | | | | | | | | | | | | U.S. government agencies and treasuries | | $ | 72,844 | | $ | 47 | | $ | (7,543) | | $ | — | | $ | 65,348 | Mortgage-backed securities - residential | | | 213,420 | | | 5 | | | (27,755) | | | — | | | 185,670 | Mortgage-backed securities - commercial | | | 74,549 | | | 3 | | | (16,080) | | | — | | | 58,472 | Corporate Securities | | | 25,501 | | | — | | | (2,955) | | | — | | | 22,546 | Obligations of states and political subdivisions | | | 92,510 | | | 34 | | | (13,766) | | | — | | | 78,778 | Total debt securities | | $ | 478,824 | | $ | 89 | | $ | (68,099) | | $ | — | | $ | 410,814 |
| | | | | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | | | Amortized | | Unrealized | | Unrealized | | ACL | | Fair | | | Cost | | Gains | | Losses | | Adjustment | | Value | Available-for-sale December 31, 2024 | | | | | | | | | | | | | | | | U.S. government agencies and treasuries | | $ | 85,464 | | $ | 35 | | $ | (9,345) | | $ | — | | $ | 76,154 | Mortgage-backed securities - residential | | | 229,938 | | | 10 | | | (33,248) | | | — | | | 196,700 | Mortgage-backed securities - commercial | | | 77,525 | | | — | | | (16,886) | | | — | | | 60,639 | Corporate Securities | | | 23,508 | | | — | | | (3,474) | | | — | | | 20,034 | Obligations of states and political subdivisions | | | 103,132 | | | 76 | | | (12,960) | | | — | | | 90,248 | Total debt securities | | $ | 519,567 | | $ | 121 | | $ | (75,913) | | $ | — | | $ | 443,775 |
|
| Schedule of sales of securities gains and losses |
| | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Proceeds | | $ | 13,688 | | $ | — | | $ | 13,688 | | $ | — | | | | | | | | | | | | | | Gross realized gains | | $ | 5 | | $ | — | | $ | 5 | | $ | — | Gross realized losses | | | (732) | | | — | | | (732) | | | — | Net loss on sales of securities | | | (727) | | | — | | | (727) | | | — | Tax provision on realized net gains and loss | | | (153) | | | — | | | (153) | | | — | Net loss on sales of securities, after tax | | $ | (574) | | $ | — | | $ | (574) | | $ | — |
|
| Schedule of contractual maturities of debt securities |
| | | | | | | | | Available-for-sale | | | Amortized | | Fair | | | Cost | | Value | Due in one year or less | | $ | 5,520 | | $ | 5,540 | Due after one through five years | | | 17,590 | | | 16,579 | Due after five through ten years | | | 62,175 | | | 54,524 | Due after ten years | | | 105,570 | | | 90,029 | | | | 190,855 | | | 166,672 | Mortgage-backed securities | | | 287,969 | | | 244,142 | Total debt securities | | $ | 478,824 | | $ | 410,814 |
|
| Schedule of securities with unrealized and unrecognized losses |
| | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | Available-for-sale June 30, 2025 | | | | | | | | | | | | | | | | | | | U.S. government agencies and treasuries | | $ | 362 | | $ | (1) | | $ | 60,302 | | $ | (7,542) | | $ | 60,664 | | $ | (7,543) | Mortgage-backed securities - residential | | | 8,817 | | | (121) | | | 175,460 | | | (27,634) | | | 184,277 | | | (27,755) | Mortgage-backed securities - commercial | | | — | | | — | | | 57,248 | | | (16,080) | | | 57,248 | | | (16,080) | Corporate Securities | | | 1,495 | | | (5) | | | 19,051 | | | (2,950) | | | 20,546 | | | (2,955) | Obligations of states and political subdivisions | | | 3,113 | | | (140) | | | 70,098 | | | (13,626) | | | 73,211 | | | (13,766) | Total debt securities | | $ | 13,787 | | $ | (267) | | $ | 382,159 | | $ | (67,832) | | $ | 395,946 | | $ | (68,099) |
| | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | Available-for-sale December 31, 2024 | | | | | | | | | | | | | | | | | | | U.S. government agencies | | $ | 1,099 | | $ | (5) | | $ | 70,767 | | $ | (9,340) | | $ | 71,866 | | $ | (9,345) | Mortgage-backed securities - residential | | | 7,427 | | | (198) | | | 185,647 | | | (33,050) | | | 193,074 | | | (33,248) | Mortgage-backed securities - commercial | | | 1,207 | | | (18) | | | 59,432 | | | (16,868) | | | 60,639 | | | (16,886) | Corporate Securities | | | — | | | — | | | 20,034 | | | (3,474) | | | 20,034 | | | (3,474) | Obligations of states and political subdivisions | | | 7,728 | | | (89) | | | 76,608 | | | (12,871) | | | 84,336 | | | (12,960) | Total debt securities | | $ | 17,461 | | $ | (310) | | $ | 412,488 | | $ | (75,603) | | $ | 429,949 | | $ | (75,913) |
|
| Schedule of allowance for credit loss - investments activity |
| | | | | | | | | June 30, 2025 | | June 30, 2024 | Allowance for credit losses -investments: | | | | | | | | | | | | | | Beginning balance | | $ | — | | $ | — | Provision for credit losses | | | — | | | (1,900) | Charge-offs | | | — | | | — | Recoveries | | | — | | | 1,900 | Ending balance | | $ | — | | $ | — |
|