The following summarizes the amortized cost and fair value of securities available-for-sale at March 31, 2026 and December 31, 2025 with gross unrealized gains and losses therein:


	March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Available-for-sale
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	116,939	$	472	$	(5,296	)	$	112,115
U.S. government agency securities		11,260		—		(825	)		10,435
Obligations of state and political subdivisions		41,867		2		(2,895	)		38,974
Small business association (SBA) securities		1,064		6		(1	)		1,069
U.S. treasury securities		1,963		1		—			1,964
Total	$	173,093	$	481	$	(9,017	)	$	164,557


	December 31, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
			(In thousands)
Available -for-sale
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	132,040	$	688	$	(5,081	)	$	127,647
U.S. government agency securities		11,260		2		(750	)		10,512
Obligations of state and political subdivisions		42,423		8		(2,233	)		40,198
Small business association (SBA) securities		1,254		6		(1	)		1,259
U.S. treasury securities		2,947		6		—			2,953
Total	$	189,924	$	710	$	(8,065	)	$	182,569

The unrealized losses, categorized by the length of time in a continuous loss position, and the fair value of related securities available-for-sale at March 31, 2026 and December 31, 2025 are as follows:


	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(In thousands)
March 31, 2026
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	31,198	$	(174	)	$	28,698	$	(5,122	)	$	59,896	$	(5,296	)
U.S. government agency securities		4,964		(36	)		5,471		(789	)		10,435		(825	)
Obligations of state and political subdivisions		11,304		(174	)		24,660		(2,721	)		35,964		(2,895	)
Small business association (SBA) securities		191		(1	)		218		—			409		(1	)
U.S. Treasuries		—		—			—		—			—		—
Total	$	47,657	$	(385	)	$	59,047	$	(8,632	)	$	106,704	$	(9,017	)


	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(In thousands)
December 31, 2025
Mortgage-backed securities - U.S. government sponsored enterprises (GSEs)	$	22,206	$	(52	)	$	29,492	$	(5,029	)	$	51,698	$	(5,081	)
U.S. government agency securities		—		—			5,510		(750	)		5,510		(750	)
Obligations of state and political subdivisions		1,901		(3	)		31,025		(2,230	)		32,926		(2,233	)
Small business association (SBA) securities		381		—			223		(1	)		604		(1	)
	$	24,488	$	(55	)	$	66,250	$	(8,010	)	$	90,738	$	(8,065	)

The Company uses a defined methodology for allowance for credit losses on its investment securities available-for-sale. The Company did not have an allowance for credit losses on its investment securities available-for-sale as of March 31, 2026 or 2025.

The Company’s securities primarily consist of the following types of instruments; U.S. guaranteed mortgage-backed securities, U.S. guaranteed agency bonds, state and political subdivision issued bonds, mortgage related securities guaranteed by the SBA and U.S. treasury notes. We believe it is reasonable to expect that the securities with a credit guarantee of the U.S. government will have a zero-credit loss. Therefore, no reserve was recorded for U.S. guaranteed securities or bonds at March 31, 2026. The state and political subdivision securities carry a minimum investment rating of A by either Moody’s or Standard and Poor’s. Some of the smaller municipalities also have insurance to cover the Company in the event of default. Therefore, the Company did not project a credit loss and no reserve was recorded as of March 31, 2026.

At March 31, 2026, the Company’s available-for-sale securities portfolio consisted of approximately 261 securities, of which 136 available-for-sale securities were in an unrealized loss position for more than twelve months and 48 available-for-sale securities were in an unrealized loss position for less than twelve months. The available-for-sale securities in an unrealized loss position for more than twelve months consisted of 81 municipal securities aggregating $24.7 million with a loss of $2.7 million, 49 mortgage-backed securities-GSE aggregating $28.7 million with a loss of $5.1 million, 4 agency security aggregating $5.5 million with a loss of $789 thousand and 2 SBA securities aggregating $218 thousand with a loss less than $1 thousand. The Company does not intend to sell these securities, and it is not more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. Unrealized losses primarily relate to interest rate fluctuations and not credit concerns.

Accrued interest receivable on investment securities represents interest earned but not yet collected on the Company’s available-for-sale and held-to-maturity securities portfolios. Accrued interest receivable related to investments, at March 31, 2026 and December 31, 2025 was $934 thousand and $1.1 million, respectively. Accrued interest receivable is generally written off when collection of the underlying interest is deemed uncollectible, which typically occurs when the related security is placed on nonaccrual status. When a security is placed on nonaccrual, previously accrued but uncollected interest is reversed from interest income. There were no investment securities on nonaccrual status and no write-offs of accrued interest receivable for the three-month period ended March 31, 2026 and for the year ended December 31, 2025.