v3.26.1
Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Securities [Abstract]  
Available-for-Sale Investment Securities Portfolios
The following table summarizes the amortized cost and fair value of the available‑for‑sale investment securities portfolios at December 31, 2025 and December 31, 2024 and the corresponding amounts of unrealized gains (losses) which are recognized in accumulated other comprehensive income (loss):
 
   
Amortized
Cost
    
Gross
Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair Value
  
   
(In thousands)
  
December 31, 2025:
                        
Federal agency mortgage-backed securities
  
$
120,372
    
$
1,109
    
$
(7,051
)
  
$
114,430
  
Federal agency Collateralized Mortgage Obligations (CMOs)
     69,742       367       (652 )     69,457  
Federal agency debt
    
29,259
      
–
      
(846
)
    
28,413
  
Municipal bonds
    
4,766
      
–
      
(244
)
    
4,522
  
U. S. Treasuries
    
4,993
      
–
      
(6
)
    
4,987
  
SBA pools
    
9,387
      
3
      
(1,115
)
    
8,275
  
   Asset-backed securities
     9,352       3       (86 )     9,269  
   Corporate bonds
     17,500       57       (75 )     17,482  
Total available-for-sale securities
  
$
265,371
    
$
1,539
    
$
(10,075
)
  
$
256,835
  
December 31, 2024:
                                
Federal agency mortgage-backed securities
  
$
62,853
    
$
8
    
$
(9,832
)
  
$
53,029
  
Federal agency CMOs
    
21,299
      
6
      
(1,247
)
    
20,058
  
Federal agency debt
    
42,100
      
2
      
(2,068
)
    
40,034
  
Municipal bonds
    
4,800
      
–
      
(412
)
    
4,388
  
U. S. Treasuries
    
77,857
      
–
      
(667
)
    
77,190
  
SBA pools
    
10,749
      
2
      
(1,588
)
    
9,163
  
Total available-for-sale securities
  
$
219,658
    
$
18
    
$
(15,814
)
  
$
203,862
  
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity
The amortized cost and estimated fair value of all investment securities available-for-sale at December 31, 2025, by contractual maturities, are shown below. Contractual maturities may differ from expected maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

 
  
Amortized
Cost
    
Gross
 Unrealized
Gains
    
Gross
Unrealized
Losses
    
Fair Value
  
 
  
(In thousands)
  
Due in one year or less
  
$
11,863
    
$
–
    
$
(47
)
  
$
11,816
  
Due after one year through five years
    
28,280
      
4
      
(1,049
)
    
27,235
  
Due after five years through ten years
    
32,230
      
52
      
(741
)
    
31,541
  
Due after ten years
    
192,998
      
1,483
      
(8,238
)
    
186,243
  
 
  
$
265,371
    
$
1,539
    
$
(10,075
)
  
$
256,835
  
Securities in Continuous Unrealized Loss Position
The table below indicates the length of time individual securities have been in a continuous unrealized loss position:


 
Less than 12 Months
    
12 Months or Longer
    
Total
  
   
Fair Value
    
Unrealized
Losses
    
Fair Value
    
Unrealized
Losses
    
Fair Value
    
Unrealized
Losses
  
December 31, 2025:
  
(In thousands)
  
Federal agency mortgage-backed securities
  
$
7,197
    
$
(26
)
  
$
47,717
    
$
(7,025
)
  
$
54,914
    
$
(7,051
)
Federal agency CMOs
     1,488       (2 )     14,804       (650 )     16,292       (652 )
Federal agency debt
    
2,512
      
(3
)
    
25,901
      
(843
)
    
28,413
      
(846
)
Municipal bonds
    
–
      
–
      
4,522
      
(244
)
    
4,522
      
(244
)
U. S. Treasuries
    
–
      
–
      
4,987
      
(6
)
    
4,987
      
(6
)
SBA pools
    
185
      
(1
)
    
7,621
      
(1,114
)
    
7,806
      
(1,115
)
    Asset-backed securities
     7,208       (86 )     –       –       7,208       (86 )
    Corporate bonds
     7,425       (75 )     –       –       7,425       (75 )
Total
  
$
26,015
    
$
(193
)
  
$
105,552
    
$
(9,882
)
  
$
131,567
    
$
(10,075
)
                                                 
December 31, 2024:
                                                
Federal agency mortgage-backed securities
  
$
–
    
$
–
    
$
52,568
    
$
(9,832
)
  
$
52,568
    
$
(9,832
)
Federal agency CMOs
     –       –       19,303       (1,247 )     19,303       (1,247 )
Federal agency debt
    
–
      
–
      
37,508
      
(2,068
)
    
37,508
      
(2,068
)
Municipal bonds
    
–
      
–
      
4,388
      
(412
)
    
4,388
      
(412
)
U. S. Treasuries
    
–
      
–
      
77,190
      
(667
)
    
77,190
      
(667
)
SBA pools
     629       (1 )     8,179       (1,587 )     8,808       (1,588 )
Total
  
$
629
    
$
(1
)
  
$
199,136
    
$
(15,813
)
  
$
199,765
    
$
(15,814
)