The amortized cost and approximate fair values, together with gross unrealized gains and losses, of debt securities are as follows:


					Gross			Gross
		Amortized			Unrealized			Unrealized
		Cost			Gains			Losses			Fair Value
Available-for-sale Debt Securities:
March 31, 2026:
U.S. Government and federal agencies		$	7,217		$	88			(44)		$	7,261
Mortgage-backed:
Government sponsored enterprises (GSEs) - residential			40,926			257			(2,052)			39,131
State and political subdivisions			19,088			45			(669)			18,464

		$	67,231		$	390		$	(2,765)		$	64,856


					Gross			Gross
		Amortized			Unrealized			Unrealized
		Cost			Gains			Losses			Fair Value
Available-for-sale Debt Securities:
December 31, 2025:
U.S. Government and federal agencies		$	7,186		$	135		$	(40)		$	7,281
Mortgage-backed:
Government sponsored enterprises (GSEs) - residential			42,573			367			(2,014)			40,926
State and political subdivisions			19,184			70			(531)			18,723

		$	68,943		$	572		$	(2,585)		$	66,930


					Gross			Gross
		Amortized			Unrealized			Unrealized
		Cost			Gains			Losses			Fair Value
Held-to-maturity Debt Securities:
March 31, 2026
Mortgage-backed:
Government sponsored enterprises (GSEs) - residential		$	699		$	—		$	(115)		$	584
Certificates of Deposit			4,520			66			—			4,586

		$	5,219		$	66		$	(115)		$	5,170

Held-to-maturity Debt Securities:
December 31, 2025
Mortgage-backed:
Government sponsored enterprises (GSEs) - residential		$	700		$	—		$	(108)		$	592
Certificates of Deposit			5,505			87			—			5,592

		$	6,205		$	87		$	(108)		$	6,184

The amortized cost and fair value of available-for-sale securities and held-to-maturity debt securities at March 31, 2026, 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						Held-to-maturity
		Amortized			Fair			Amortized			Fair
		Cost			Value			Cost			Value
Within one year		$	1,812		$	1,805		$	1,592		$	1,600
One to five years			7,152			7,053			2,928			2,986
Five to ten years			12,141			11,764			—			—
After ten years			5,200			5,103			—			—
			26,305			25,725			4,520			4,586
Mortgage-backed securities			40,926			39,131			699			584

Totals		$	67,231		$	64,856		$	5,219		$	5,170

The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was $12,647 at March 31, 2026 and $13,446 at December 31, 2025.

There were no sales of securities for the three and three months ended March 31, 2026 and 2025.

A portion of available-for-sale investments in debt securities are reported in the consolidated financial statements at an amount less than their historical cost.

The following table shows the Company’s investments’ gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2026 and December 31, 2025:


		March 31, 2026
		Less than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
		Value			Losses			Value			Losses			Value			Losses
Available-for-sale Debt Securities:
U.S. Government and federal agencies		$	—		$	—		$	2,287		$	(44)		$	2,287		$	(44)
State and political subdivisions			4,679			(61)			8,693			(608)			13,372			(669)
Mortgage backed securities - GSE  residential			2,748			(27)			20,832			(2,025)			23,580			(2,052)
Total AFS securities		$	7,427		$	(88)		$	31,812		$	(2,677)		$	39,239		$	(2,765)


		December 31, 2025
		Less than 12 Months						12 Months or More						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
		Value			Losses			Value			Losses			Value			Losses
Available-for-sale Debt Securities:
U.S. Government and federal agencies		$	—		$	—		$	2,286		$	(40)		$	2,286		$	(40)
State and political subdivisions			1,337			(3)			11,093			(528)			12,430			(531)
Mortgage backed securities - GSE residential			1,916			(17)			22,126			(1,997)			24,042			(2,014)
Total AFS securities		$	3,253		$	(20)		$	35,505		$	(2,565)		$	38,758		$	(2,585)

Total fair value of these investments at March 31, 2026 and December 31, 2025, was $39,239 and $38,758. The following table shows the total available-for-sale securities and aggregate depreciation by security type:


		Number of
		securities in a		Aggregate
		loss position		depreciation
March 31, 2026

U.S. Government and Federal agencies		4		(1.89)	%
Mortgage-backed:
Government sponsored enterprises (GSEs) - residential		156		(7.98)	%
State and political subdivisions		35		(4.76)	%

Total Portfolio		195		(6.57)	%

December 31, 2025

U.S. Government and Federal agencies		4		(1.71)	%
Mortgage-backed:
Government sponsored enterprises (GSEs) - residential		155		(7.73)	%
State and political subdivisions		33		(4.10)	%

Total Portfolio		192		(6.25)	%

These unrealized losses relate principally to the changes in market interest rates and are not due to changes in the financial condition of the issuer, the quality of the underlying assets, or applicable credit enhancements. In analyzing whether and allowance for credit losses on debt securities is required, management considers whether the securities are issued by a government body or agency, whether a rating agency has downgraded the securities, industry analysts’ reports, the financial

condition and performance of the issuer, and the quality of any underlying assets or credit enhancements. Since management has the ability to hold debt securities for the foreseeable future, no allowance for credit losses related to debt securities has been recorded at March 31, 2026 and December 31, 2025.

Management has evaluated the Company’s held-to-maturities securities unrealized losses and has concluded that no anticipated credit losses are expected and therefore no reserve for losses related to held-to-maturity securities has been included in the Company’s allowance for credit losses.