Investment Securities (Tables)

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Values of Investments in Debt Securities

The following tables summarize the amortized cost, fair value, and allowance for credit losses and the corresponding amounts of gross unrealized gains and losses of available-for-sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held-to-maturity securities:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Allowance for Credit Losses
	(dollars in thousands; unaudited)
March 31, 2026
Available-for-sale

U.S. Agency collateralized mortgage obligations	$	29	$	—	$	(1)	$	28	$	—


Total available-for-sale securities	29		—		(1)		28		—

Held-to-maturity
U.S. Agency residential mortgage-backed securities	46,141		549		(307)		46,383		—

Total investment securities	$	46,170	$	549	$	(308)	$	46,411	$	—


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Allowance for Credit Losses
	(dollars in thousands; unaudited)
December 31, 2025
Available-for-sale


U.S. Agency collateralized mortgage obligations	$	30	$	—	$	(1)	$	29	$	—


Total available-for-sale securities	30		—		(1)		29		—
Held-to-maturity
U.S. Agency residential mortgage-backed securities	48,218		710		(214)		48,713		—
Total investment securities	$	48,248	$	710	$	(215)	$	48,742	$	—

Amortized Cost and Fair Value of Debt Securities by Contractual Maturity


	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(dollars in thousands; unaudited)
March 31, 2026




U.S. Agency residential mortgage-backed securities and collateralized mortgage obligations	29		28		46,141		46,383
	$	29	$	28	$	46,141	$	46,383

Summary of Investment Securities Continuous Unrealized Loss Position

The following tables show the investments’ gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for which an allowance for credit losses has not been recorded:


	Less Than 12 Months				12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(dollars in thousands; unaudited)
March 31, 2026
Available-for-sale

U.S. Agency collateralized mortgage obligations	$	—	$	—	$	28	$	1	$	28	$	1


Total available-for-sale securities	—		—		28		1		28		1
Held-to-maturity
U.S. Agency residential mortgage-backed securities	13,759		220		737		87		14,496		307
Total investment securities	$	13,759	$	220	$	765	$	88	$	14,524	$	308


	Less Than 12 Months				12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(dollars in thousands; unaudited)
December 31, 2025
Available-for-sale


U.S. Agency collateralized mortgage obligations	$	—	$	—	$	29	$	1	$	29	$	1


Total available-for-sale securities	—		—		29		1		29		1
Held-to-maturity
U.S. Agency residential mortgage-backed securities	5,039		95		8,228		119		13,267		214
Total investment securities	$	5,039	$	95	$	8,257	$	120	$	13,296	$	215