Investment Securities (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of Investment Securities Available-for-Sale and Held-to-Maturity |
Details of investment securities available-for-sale and held-to-maturity as of December 31, 2025 and 2024 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
December 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Estimated
Fair
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
105,403 |
|
|
$ |
1,783 |
|
|
$ |
(1,408 |
) |
|
$ |
105,778 |
|
Commercial |
|
|
7,568 |
|
|
|
84 |
|
|
|
(69 |
) |
|
|
7,583 |
|
Obligations of U.S. government-sponsored agencies |
|
|
16,620 |
|
|
|
190 |
|
|
|
(306 |
) |
|
|
16,504 |
|
Obligations of states and political subdivisions |
|
|
1,690 |
|
|
|
63 |
|
|
|
(3 |
) |
|
|
1,750 |
|
Corporate notes |
|
|
17,764 |
|
|
|
110 |
|
|
|
(848 |
) |
|
|
17,026 |
|
U.S. Treasury securities |
|
|
19,992 |
|
|
|
— |
|
|
|
(558 |
) |
|
|
19,434 |
|
Total |
|
$ |
169,037 |
|
|
$ |
2,230 |
|
|
$ |
(3,192 |
) |
|
$ |
168,075 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
December 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Estimated
Fair
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
163 |
|
|
$ |
— |
|
|
$ |
(4 |
) |
|
$ |
159 |
|
Obligations of U.S. government-sponsored agencies |
|
|
302 |
|
|
|
— |
|
|
|
(12 |
) |
|
|
290 |
|
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
465 |
|
|
$ |
— |
|
|
$ |
(16 |
) |
|
$ |
449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
December 31, 2024 |
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Estimated
Fair
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
87,703 |
|
|
$ |
347 |
|
|
$ |
(2,768 |
) |
|
$ |
85,282 |
|
Commercial |
|
|
12,105 |
|
|
|
17 |
|
|
|
(202 |
) |
|
|
11,920 |
|
Obligations of U.S. government-sponsored agencies |
|
|
11,436 |
|
|
|
18 |
|
|
|
(620 |
) |
|
|
10,834 |
|
Obligations of states and political subdivisions |
|
|
1,577 |
|
|
|
— |
|
|
|
(28 |
) |
|
|
1,549 |
|
Corporate notes |
|
|
17,757 |
|
|
|
58 |
|
|
|
(1,871 |
) |
|
|
15,944 |
|
U.S. Treasury securities |
|
|
44,019 |
|
|
|
— |
|
|
|
(1,660 |
) |
|
|
42,359 |
|
Total |
|
$ |
174,597 |
|
|
$ |
440 |
|
|
$ |
(7,149 |
) |
|
$ |
167,888 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
December 31, 2024 |
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Estimated
Fair
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
264 |
|
|
$ |
— |
|
|
$ |
(10 |
) |
|
$ |
254 |
|
Obligations of U.S. government-sponsored agencies |
|
|
384 |
|
|
|
— |
|
|
|
(27 |
) |
|
|
357 |
|
Obligations of states and political subdivisions |
|
|
34 |
|
|
|
— |
|
|
|
(3 |
) |
|
|
31 |
|
Total |
|
$ |
682 |
|
|
$ |
— |
|
|
$ |
(40 |
) |
|
$ |
642 |
|
|
| Maturities of Investment Securities Available-for-Sale and Held-to-Maturity |
The scheduled maturities of investment securities available-for-sale and held-to-maturity as of December 31, 2025 are presented in the following table:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
Held-to-Maturity |
|
|
|
Amortized
Cost |
|
|
Estimated
Fair
Value |
|
|
Amortized
Cost |
|
|
Estimated
Fair
Value |
|
|
|
(Dollars in Thousands) |
|
Maturing within one year |
|
$ |
10,537 |
|
|
$ |
10,401 |
|
|
$ |
— |
|
|
$ |
— |
|
Maturing after one to five years |
|
|
14,221 |
|
|
|
13,869 |
|
|
|
168 |
|
|
|
166 |
|
Maturing after five to ten years |
|
|
61,047 |
|
|
|
59,214 |
|
|
|
222 |
|
|
|
211 |
|
Maturing after ten years |
|
|
83,232 |
|
|
|
84,591 |
|
|
|
75 |
|
|
|
72 |
|
Total |
|
$ |
169,037 |
|
|
$ |
168,075 |
|
|
$ |
465 |
|
|
$ |
449 |
|
|
| Schedule of Unrealized Loss and Fair Value on Investments for Securities for Which Allowance for Credit Losses has not been Recorded |
The following table reflects gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of December 31, 2025 and 2024:
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
December 31, 2025 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
24,202 |
|
|
$ |
(187 |
) |
|
$ |
22,392 |
|
|
$ |
(1,221 |
) |
Commercial |
|
|
— |
|
|
|
— |
|
|
|
3,287 |
|
|
|
(69 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
— |
|
|
|
— |
|
|
|
4,751 |
|
|
|
(306 |
) |
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
298 |
|
|
|
(3 |
) |
Corporate notes |
|
|
— |
|
|
|
— |
|
|
|
14,915 |
|
|
|
(848 |
) |
U.S. Treasury securities |
|
|
— |
|
|
|
— |
|
|
|
19,434 |
|
|
|
(558 |
) |
Total |
|
$ |
24,202 |
|
|
$ |
(187 |
) |
|
$ |
65,077 |
|
|
$ |
(3,005 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
December 31, 2025 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
159 |
|
|
$ |
(4 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
— |
|
|
|
— |
|
|
|
290 |
|
|
|
(12 |
) |
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
449 |
|
|
$ |
(16 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
December 31, 2024 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
41,417 |
|
|
$ |
(424 |
) |
|
$ |
28,520 |
|
|
$ |
(2,344 |
) |
Commercial |
|
|
3,374 |
|
|
|
(13 |
) |
|
|
5,331 |
|
|
|
(189 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
3,823 |
|
|
|
(1 |
) |
|
|
4,457 |
|
|
|
(619 |
) |
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
1,549 |
|
|
|
(28 |
) |
Corporate notes |
|
|
— |
|
|
|
— |
|
|
|
13,886 |
|
|
|
(1,871 |
) |
U.S. Treasury securities |
|
|
— |
|
|
|
— |
|
|
|
42,359 |
|
|
|
(1,660 |
) |
Total |
|
$ |
48,614 |
|
|
$ |
(438 |
) |
|
$ |
96,102 |
|
|
$ |
(6,711 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
December 31, 2024 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
254 |
|
|
$ |
(10 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
— |
|
|
|
— |
|
|
|
357 |
|
|
|
(27 |
) |
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
31 |
|
|
|
(3 |
) |
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
642 |
|
|
$ |
(40 |
) |
|