v3.25.4
SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Gross Realized and Unrealized Gains (Losses) Recognized on Equity Securities The gross realized and unrealized gains (losses) recognized on equity securities with readily determinable fair values in noninterest income in the Company’s consolidated statements of income were as follows:
(Dollars in thousands)202520242023
Unrealized gains (losses) on equity securities still held at the reporting date$143 $(43)$62 
Realized gains (losses) on equity securities sold during the period— — 18 
$143 $(43)$80 
The gross realized and unrealized gains (losses) recognized on equity securities without readily determinable fair values in noninterest income in the Company’s consolidated statements of income were as follows:
Year Ended December 31,
(Dollars in thousands)202520242023
Unrealized gains (losses) on equity securities still held at the reporting date$(1,212)$— $— 
Realized gains (losses) on equity securities sold during the period89 534 — 
$(1,123)$534 $— 
Schedule of Equity Securities without Readily Determinable Fair Value
The following table summarizes the Company's investments in equity securities without readily determinable fair values:
(Dollars in thousands)December 31, 2025December 31, 2024
Equity Securities without readily determinable fair value, at cost
$75,499 $71,807 
Upward adjustments based on observable price changes, cumulative
10,163 10,163 
Impairments and downward adjustments based on observable price changes, cumulative $(1,212)$— 
Equity Securities without readily determinable fair value, carrying value$84,450 $81,970 
Schedule of Amortized Cost of Securities and Their Estimated Fair Values
Debt securities have been classified in the financial statements as available for sale or held to maturity. The following table summarizes the amortized cost, fair value, and allowance for credit losses of debt securities and the corresponding amounts of gross unrealized gains and losses of available for sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities:
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesFair
Value
December 31, 2025
Available for sale securities:
Mortgage-backed securities, residential$91,642 $462 $(3,604)$— $88,500 
Asset-backed securities812 — (1)— 811 
State and municipal2,638 — (49)— 2,589 
CLO Securities270,148 926 — — 271,074 
Corporate bonds265 — (2)— 263 
SBA pooled securities1,079 10 (49)— 1,040 
Total available for sale securities$366,584 $1,398 $(3,705)$— $364,277 
(Dollars in thousands)Amortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Fair
Value
December 31, 2025
Held to maturity securities:
CLO securities$3,178 $— $(1,300)$1,878 
Allowance for credit losses(1,628)
Total held to maturity securities, net of ACL$1,550 
(Dollars in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesFair
Value
December 31, 2024
Available for sale securities:
Mortgage-backed securities, residential$89,740 $89 $(5,644)$— $84,185 
Asset-backed securities907 — (2)— 905 
State and municipal3,154 — (91)— 3,063 
CLO Securities290,286 1,627 — — 291,913 
Corporate bonds266 — (4)— 262 
SBA pooled securities1,305 9 (81)— 1,233 
Total available for sale securities$385,658 $1,725 $(5,822)$— $381,561 
(Dollars in thousands)Amortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Fair
Value
December 31, 2024
Held to maturity securities:
CLO securities$5,367 $— $(2,853)$2,514 
Allowance for credit losses(3,491)
Total held to maturity securities, net of ACL$1,876 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities at December 31, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
Available for Sale SecuritiesHeld to Maturity Securities
(Dollars in thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$— $— $— $— 
Due from one year to five years2,134 2,118 3,178 1,878 
Due from five years to ten years33,336 33,377 — — 
Due after ten years237,581 238,431 — — 
273,051 273,926 3,178 1,878 
Mortgage-backed securities, residential91,642 88,500 — — 
Asset-backed securities812 811 — — 
SBA pooled securities1,079 1,040 — — 
$366,584 $364,277 $3,178 $1,878 
Schedule of Proceeds from Sales of Debt Securities and the Associated Gross Gains and Losses
Proceeds from sales of debt securities and the associated gross gains and losses are as follows:
(Dollars in thousands)202520242023
Proceeds$— $— $15,996 
Gross gains— — 103 
Gross losses— — — 
Net gains and losses from calls of securities— (1)(1)
Schedule of Available-for-Sale Debt Securities in an Unrealized Loss Position with No Allowance
The following table summarizes available for sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous loss position:
Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
December 31, 2025
Available for sale securities:
Mortgage-backed securities, residential$14,533 $(85)$30,284 $(3,519)$44,817 $(3,604)
Asset-backed securities811 (1)— — 811 (1)
State and municipal505 — 1,544 (49)2,049 (49)
CLO Securities— — — — — — 
Corporate bonds— — 263 (2)263 (2)
SBA pooled securities— — 747 (49)747 (49)
Total available for sale securities$15,849 $(86)$32,838 $(3,619)$48,687 $(3,705)
Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
December 31, 2024
Available for sale securities:
Mortgage-backed securities, residential32,124 (641)35,340 (5,003)67,464 (5,644)
Asset-backed securities— — 905 (2)905 (2)
State and municipal355 (5)2,356 (86)2,711 (91)
CLO Securities— — — — — — 
Corporate bonds262 (4)— — 262 (4)
SBA pooled securities— — 876 (81)876 (81)
Total available for sale securities$32,741 $(650)$39,477 $(5,172)$72,218 $(5,822)
Schedule of Activity in Allowance for Credit Losses for Held To Maturity Debt Securities
The following table presents the activity in the allowance for credit losses for held to maturity debt securities:
(Dollars in thousands)Year Ended December 31,
Held to Maturity CLO Securities202520242023
Allowance for credit losses:
Beginning balance$3,491 $3,190 $2,444 
Credit loss expense (benefit)277 301 746 
Charge-offs(2,160)— — 
Recoveries20 — — 
Allowance for credit losses ending balance$1,628 $3,491 $3,190