Investment Securities (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Schedule of Investments [Abstract] |
|
| Summary of Fixed Maturity Securities Available for Sale |
The following tables present details of fixed maturity securities available for sale as of March 31, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026
(Dollars in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Mortgage-backed securities, principally obligations of U.S. federal agencies |
|
$ |
51,481 |
|
|
$ |
60 |
|
|
$ |
(3,732 |
) |
|
$ |
47,809 |
|
State and municipalities |
|
|
21,312 |
|
|
|
— |
|
|
|
(1,315 |
) |
|
|
19,997 |
|
Agency bonds |
|
|
137 |
|
|
|
— |
|
|
|
(9 |
) |
|
|
128 |
|
Total |
|
$ |
72,930 |
|
|
$ |
60 |
|
|
$ |
(5,056 |
) |
|
$ |
67,934 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025
(Dollars in thousands) |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Mortgage-backed securities, principally obligations of U.S. federal agencies |
|
$ |
45,392 |
|
|
$ |
160 |
|
|
$ |
(3,381 |
) |
|
$ |
42,171 |
|
State and municipalities |
|
|
19,117 |
|
|
|
14 |
|
|
|
(1,251 |
) |
|
|
17,880 |
|
Agency bonds |
|
|
139 |
|
|
|
— |
|
|
|
(7 |
) |
|
|
132 |
|
Total |
|
$ |
64,648 |
|
|
$ |
174 |
|
|
$ |
(4,639 |
) |
|
$ |
60,183 |
|
|
| Summary of Amortized Cost and Estimated Market Value of Investment Securities by Contractual Maturity |
The amortized cost and estimated fair market value of investment securities at March 31, 2026 by contractual maturity are presented below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage‑backed securities are included in the table based on their contractual maturities and are reflected in the each category below.
|
|
|
|
|
|
|
|
|
March 31, 2026
(Dollars in thousands) |
|
Amortized
Cost |
|
|
Fair
Value |
|
Due in one year or less |
|
$ |
2,402 |
|
|
$ |
2,387 |
|
Due after one year through five years |
|
|
10,662 |
|
|
|
10,120 |
|
Due after five years through ten years |
|
|
9,493 |
|
|
|
9,243 |
|
Due after ten years |
|
|
50,373 |
|
|
|
46,184 |
|
Total |
|
$ |
72,930 |
|
|
$ |
67,934 |
|
|
| Summary of Securities with Gross Unrealized Losses |
The following tables present information pertaining to securities with gross unrealized losses as of March 31, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous loss position.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than Twelve Months |
|
|
Twelve Months and Over |
|
March 31, 2026
(Dollars in thousands) |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Mortgage-backed securities |
|
$ |
(236 |
) |
|
$ |
7,644 |
|
|
$ |
(3,496 |
) |
|
$ |
29,393 |
|
State and municipalities |
|
|
(29 |
) |
|
|
2,914 |
|
|
|
(1,286 |
) |
|
|
14,086 |
|
Agency bonds |
|
|
— |
|
|
|
— |
|
|
|
(9 |
) |
|
|
128 |
|
Total |
|
$ |
(265 |
) |
|
$ |
10,558 |
|
|
$ |
(4,791 |
) |
|
$ |
43,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than Twelve Months |
|
|
Twelve Months and Over |
|
December 31, 2025
(Dollars in thousands) |
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
Mortgage-backed securities |
|
$ |
(13 |
) |
|
$ |
3,420 |
|
|
$ |
(3,368 |
) |
|
$ |
26,541 |
|
State and municipalities |
|
|
(3 |
) |
|
|
22 |
|
|
|
(1,248 |
) |
|
|
14,840 |
|
Agency bonds |
|
|
— |
|
|
|
— |
|
|
|
(7 |
) |
|
|
132 |
|
Total |
|
$ |
(16 |
) |
|
$ |
3,442 |
|
|
$ |
(4,623 |
) |
|
$ |
41,513 |
|
|