Investment Securities (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Investment Securities |
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| Summary of amortized cost and fair value of securities available-for-sale |
| | | | | | | | | | | | | | | June 30, 2025 | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | (Dollars in thousands) | | Cost | | Gains | | (Losses) | | Value | Available-for-sale | | | | | | | | | | | | | U.S. Treasuries | | $ | 20,215 | | $ | — | | $ | (401) | | $ | 19,814 | U.S. government and federal agencies | | | 6,983 | | | — | | | (232) | | | 6,751 | Corporate bonds | | | 3,000 | | | — | | | (223) | | | 2,777 | U.S. agency collateralized mortgage obligations | | | 35,339 | | | 5 | | | (5,784) | | | 29,560 | Tax-exempt municipal | | | 1,378 | | | — | | | (203) | | | 1,175 | Taxable municipal | | | 270 | | | — | | | (2) | | | 268 | U.S. agency mortgage-backed | | | 69,141 | | | 120 | | | (4,108) | | | 65,153 | Total Available-for-sale Securities | | $ | 136,326 | | $ | 125 | | $ | (10,953) | | $ | 125,498 |
| | | | | | | | | | | | | | | December 31, 2024 | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | (Dollars in thousands) | | Cost | | Gains | | (Losses) | | Value | Available-for-sale | | | | | | | | | | | | | U.S. Treasuries | | $ | 27,920 | | $ | — | | $ | (783) | | $ | 27,137 | U.S. government and federal agencies | | | 10,966 | | | — | | | (385) | | | 10,581 | Corporate bonds | | | 3,000 | | | — | | | (261) | | | 2,739 | U.S. agency collateralized mortgage obligations | | | 36,032 | | | — | | | (6,421) | | | 29,611 | Tax-exempt municipal | | | 1,379 | | | — | | | (208) | | | 1,171 | Taxable municipal | | | 270 | | | — | | | (7) | | | 263 | U.S. agency mortgage-backed | | | 64,274 | | | — | | | (5,519) | | | 58,755 | Total Available-for-sale Securities | | $ | 143,841 | | $ | — | | $ | (13,584) | | $ | 130,257 |
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| Schedule of gross unrealized loss position of investments |
| | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | | Less than 12 Months | | 12 Months or Longer | | Total | | | | | Gross | | | | Gross | | | | | Gross | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | (Dollars in thousands) | | Value | | Losses | | Value | | Losses | | Value | | Losses | Available-for-sale | | | | | | | | | | | | | | | | | | | U.S. Treasuries | | $ | — | | $ | — | | $ | 19,814 | | $ | (401) | | $ | 19,814 | | $ | (401) | U.S. government and federal agencies | | | — | | | — | | | 6,751 | | | (232) | | | 6,751 | | | (232) | Corporate bonds | | | — | | | — | | | 2,777 | | | (223) | | | 2,777 | | | (223) | U.S. agency collateralized mortgage obligations | | | — | | | — | | | 28,679 | | | (5,784) | | | 28,679 | | | (5,784) | Tax-exempt municipal | | | — | | | — | | | 1,175 | | | (203) | | | 1,175 | | | (203) | Taxable municipal | | | — | | | — | | | 268 | | | (2) | | | 268 | | | (2) | U.S. agency mortgage-backed | | | — | | | — | | | 52,469 | | | (4,108) | | | 52,469 | | | (4,108) | Total Available-for-sale Securities | | $ | — | | $ | — | | $ | 111,933 | | $ | (10,953) | | $ | 111,933 | | $ | (10,953) |
| | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | Less than 12 Months | | 12 Months or Longer | | Total | | | | | Gross | | | | Gross | | | | | Gross | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | (Dollars in thousands) | | Value | | Losses | | Value | | Losses | | Value | | Losses | Available-for-sale | | | | | | | | | | | | | | | | | | | U.S. Treasuries | | $ | — | | $ | — | | $ | 27,137 | | $ | (783) | | $ | 27,137 | | $ | (783) | U.S. government and federal agencies | | | — | | | — | | | 10,581 | | | (385) | | | 10,581 | | | (385) | Corporate bonds | | | — | | | — | | | 2,739 | | | (261) | | | 2,739 | | | (261) | U.S. agency collateralized mortgage obligations | | | — | | | — | | | 29,611 | | | (6,421) | | | 29,611 | | | (6,421) | Tax-exempt municipal | | | — | | | — | | | 1,171 | | | (208) | | | 1,171 | | | (208) | Taxable municipal | | | — | | | — | | | 263 | | | (7) | | | 263 | | | (7) | U.S. agency mortgage-backed | | | — | | | — | | | 58,755 | | | (5,519) | | | 58,755 | | | (5,519) | Total Available-for-sale Securities | | $ | — | | $ | — | | $ | 130,257 | | $ | (13,584) | | $ | 130,257 | | $ | (13,584) |
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| Contractual maturities of investment securities |
| | | | | | | | | June 30, 2025 | | | Amortized | | Fair | (Dollars in thousands) | | Cost | | Value | Available-for-sale | | | | | | | Due in one year or less | | $ | 27,446 | | $ | 26,987 | Due after one year through five years | | | 12,387 | | | 12,042 | Due after five years through ten years | | | 42,405 | | | 41,146 | Due after ten years | | | 54,088 | | | 45,323 | Total Available-for-sale Securities | | $ | 136,326 | | $ | 125,498 |
| | | | | | | | | June 30, 2025 | | | Amortized | | Fair | (Dollars in thousands) | | Cost | | Value | Held-to-maturity | | | | | | | Due in one year or less | | $ | — | | $ | — | Due after one year through five years | | | 32,499 | | | 29,923 | Due after five years through ten years | | | 17,514 | | | 15,068 | Due after ten years | | | 40,251 | | | 32,457 | Total Held-to-maturity Securities | | $ | 90,264 | | $ | 77,448 |
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| Summary of amortized cost and fair value of securities held-to-maturity |
| | | | | | | | | | | | | | | June 30, 2025 | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | (Dollars in thousands) | | Cost | | Gains | | (Losses) | | Value | Held-to-maturity | | | | | | | | | | | | | U.S. Treasuries | | $ | 6,002 | | $ | — | | $ | (410) | | $ | 5,592 | U.S. government and federal agencies | | | 35,332 | | | — | | | (3,594) | | | 31,738 | U.S. agency collateralized mortgage obligations | | | 17,013 | | | — | | | (3,420) | | | 13,593 | Taxable municipal | | | 6,032 | | | — | | | (872) | | | 5,160 | U.S. agency mortgage-backed | | | 25,885 | | | — | | | (4,520) | | | 21,365 | Total Held-to-maturity Securities | | $ | 90,264 | | $ | — | | $ | (12,816) | | $ | 77,448 |
| | | | | | | | | | | | | | | December 31, 2024 | | | | | | Gross | | Gross | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | (Dollars in thousands) | | Cost | | Gains | | (Losses) | | Value | Held-to-maturity | | | | | | | | | | | | | U.S. Treasuries | | $ | 6,001 | | $ | — | | $ | (583) | | $ | 5,418 | U.S. government and federal agencies | | | 35,349 | | | — | | | (4,743) | | | 30,606 | U.S. agency collateralized mortgage obligations | | | 17,805 | | | — | | | (3,948) | | | 13,857 | Taxable municipal | | | 6,041 | | | — | | | (1,089) | | | 4,952 | U.S. agency mortgage-backed | | | 26,813 | | | — | | | (5,376) | | | 21,437 | Total Held-to-maturity Securities | | $ | 92,009 | | $ | — | | $ | (15,739) | | $ | 76,270 |
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| Summary of restricted securities |
| | | | | | | (Dollars in thousands) | | June 30, 2025 | | December 31, 2024 | Federal Reserve Bank Stock | | $ | 3,335 | | $ | 3,327 | Federal Home Loan Bank Stock | | | 4,242 | | | 4,247 | Community Bankers’ Bank Stock | | | 60 | | | 60 | Total Restricted Securities | | $ | 7,637 | | $ | 7,634 |
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