v3.26.1
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Values of Investment Securities Available-For-Sale

The amortized cost and estimated fair values of investment securities are summarized below:

 

AVAILABLE-FOR-SALE:

 

(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2025                    
US Treasury securities  $25,804   $7   $(1,717)  $24,093 
Government Sponsored Enterprises   2,500    —    (244)   2,256 
Mortgage-backed securities   262,096    694    (10,604)   252,185 
Small Business Administration pools   8,858    17    (207)   8,668 
Corporate and other securities   7,507    —    (601)   6,907 
Total  $306,765   $718   $(13,373)  $294,109 
                     
(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2024                    
US Treasury securities  $15,822   $—   $(2,582)  $13,240 
Government Sponsored Enterprises   2,500    —    (390)   2,110 
Mortgage-backed securities   260,023    40    (15,859)   244,204 
Small Business Administration pools   12,437    15    (373)   12,079 
Corporate and other securities   8,755    —    (806)   7,949 
Total  $299,537   $55   $(20,010)  $279,582 
Schedule of Amortized Cost and Estimated Fair Values of Investment Securities Held-To-Maturity

HELD-TO-MATURITY:

 

Schedule of Amortized Cost and Estimated Fair Values of Investment Securities Held-To-Maturity

 

(Dollars in thousands)  Amortized Cost
Net of Allowance
for Credit Losses		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2025                    
Mortgage-backed securities  $93,066   $—   $(4,921)  $88,153 
State and local government   102,050    140    (1,779)   100,410 
Total  $195,116   $140   $(6,700)  $188,563 
                     
(Dollars in thousands)  Amortized Cost
Net of Allowance
for Credit Losses		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2024                    
Mortgage-backed securities  $105,563    —   $(8,645)  $96,918 
State and local government   103,850    —    (4,728)   99,122 
Total  $209,413   $—   $(13,373)  $196,040 
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position.

The following tables show gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position, at December 31, 2025 and December 31, 2024. 

 

(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2025  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Available-for-sale securities:  Value   Loss   Value   Loss   Value   Loss 
US Treasury Securities  $—   $—   $14,134   $1,717   $14,134   $1,717 
Government Sponsored Enterprise   —    —    2,256    244    2,256    244 
Mortgage-backed securities   454    —    189,625    10,604    190,079    10,604 
Small Business Administration pools   317    3    6,342    204    6,659    207 
Corporate and other securities   —    —    6,893    601    6,893    601 
Total  $771   $3   $219,250   $13,370   $220,021   $13,373 
                               
(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2024  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Available-for-sale securities:  Value   Loss   Value   Loss   Value   Loss 
US Treasury Securities  $—   $—   $13,240   $2,582   $13,240   $2,582 
Government Sponsored Enterprise   —    —    2,110    390    2,110    390 
Mortgage-backed securities   14,310    150    216,452    15,709    230,762    15,859 
Small Business Administration pools   1,279    2    8,554    371    9,833    373 
Corporate and other securities   1,488    263    6,449    543    7,937    806 
Total  $17,077   $415   $246,805   $19,595   $263,882   $20,010 

 

                               
(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2025  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Held-to-maturity securities:  Value   Loss   Value   Loss   Value   Loss 
Mortgage-backed securities   —    —    88,153    4,921    88,153    4,921 
State and local government   10,643    14    68,752    1,765    79,395    1,779 
Total  $10,643   $14   $156,905   $6,686   $167,548   $6,700 
                               
(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2024  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Held-to-maturity securities:  Value   Loss   Value   Loss   Value   Loss 
Mortgage-backed securities   —    —    96,918    8,645    96,918    8,645 
State and local government   21,376    436    76,104    4,292    97,480    4,728 
Total  $21,376   $436   $173,022   $12,937   $194,398   $13,373 
Schedule of Amortized Cost and Fair Value of Investment Securities

The amortized cost and fair value of investment securities at December 31, 2025, by expected maturity, follow. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. Mortgage-backed securities are included in the year corresponding with the remaining expected life.

 

AVAILABLE-FOR-SALE:

(Dollars in thousands)  Available-for-sale 
   Amortized
Cost		   Fair
Value		 
Due in one year or less  $12,338   $12,320 
Due after one year through five years   17,759    17,024 
Due after five years through ten years   24,271    22,217 
Due after ten years   252,383    242,535 
   $306,765   $294,109 

 

HELD-TO-MATURITY:

(Dollars in thousands)  Held-to-maturity 
   Amortized
Cost		   Fair
Value		 
Due in one year or less  $5,616   $5,610 
Due after one year through five years   64,925    64,120 
Due after five years through ten years   53,673    52,898 
Due after ten years   70,921    65,954 
Allowance for Credit Losses on Held-to-Maturity Securities   (19)   (19)
   $195,116   $188,563 
Schedule of allowance for credit losses on held to maturity securities

The following table shows a roll forward of the allowance for credit losses on held to maturity securities for the years ended December 31, 2025 and 2024.

 

   State and 
   local 
(Dollars in thousands)  government 
Allowance for Credit Losses on Held-to-Maturity Securities:     
      
Beginning balance, December 31, 2023  $(30)
Release of credit losses   7 
Ending balance, December 31, 2024  $(23)

 

   State and 
   local 
(Dollars in thousands)  government 
Allowance for Credit Losses on Held-to-Maturity Securities:     
      
Beginning balance, December 31, 2024  $(23)
Release of credit losses   4 
Ending balance, December 31, 2025  $(19)