Investment Securities (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Summary of amortized cost and estimated fair value |
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:
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March 31, 2026 |
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Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair
Value |
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(In thousands) |
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Available-for-sale |
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Mortgage-backed securities - U.S. government sponsored
enterprises (GSEs) |
|
$ |
116,939 |
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|
$ |
472 |
|
|
$ |
(5,296 |
) |
|
$ |
112,115 |
|
U.S. government agency securities |
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11,260 |
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|
|
— |
|
|
|
(825 |
) |
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|
10,435 |
|
Obligations of state and political subdivisions |
|
|
41,867 |
|
|
|
2 |
|
|
|
(2,895 |
) |
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|
38,974 |
|
Small business association (SBA) securities |
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|
1,064 |
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6 |
|
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(1 |
) |
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|
1,069 |
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U.S. treasury securities |
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|
1,963 |
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1 |
|
|
|
— |
|
|
|
1,964 |
|
Total |
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$ |
173,093 |
|
|
$ |
481 |
|
|
$ |
(9,017 |
) |
|
$ |
164,557 |
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December 31, 2025 |
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Gross |
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Gross |
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|
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Amortized |
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Unrealized |
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Unrealized |
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Fair |
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|
Cost |
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Gains |
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Losses |
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Value |
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(In thousands) |
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Available -for-sale |
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Mortgage-backed securities - U.S. government sponsored
enterprises (GSEs) |
|
$ |
132,040 |
|
|
$ |
688 |
|
|
$ |
(5,081 |
) |
|
$ |
127,647 |
|
U.S. government agency securities |
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|
11,260 |
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2 |
|
|
|
(750 |
) |
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|
10,512 |
|
Obligations of state and political subdivisions |
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|
42,423 |
|
|
|
8 |
|
|
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(2,233 |
) |
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|
40,198 |
|
Small business association (SBA) securities |
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|
1,254 |
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6 |
|
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(1 |
) |
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1,259 |
|
U.S. treasury securities |
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2,947 |
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6 |
|
|
|
— |
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|
2,953 |
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Total |
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$ |
189,924 |
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|
$ |
710 |
|
|
$ |
(8,065 |
) |
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$ |
182,569 |
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| Summary of fair value of related securities available-for-sale |
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:
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Less than 12 Months |
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More than 12 Months |
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Total |
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Fair |
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Unrealized |
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Fair |
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Unrealized |
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Fair |
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Unrealized |
|
|
|
Value |
|
|
Losses |
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|
Value |
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|
Losses |
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Value |
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|
Losses |
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(In thousands) |
|
March 31, 2026 |
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Mortgage-backed securities - U.S. government
sponsored enterprises (GSEs) |
|
$ |
31,198 |
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|
$ |
(174 |
) |
|
$ |
28,698 |
|
|
$ |
(5,122 |
) |
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$ |
59,896 |
|
|
$ |
(5,296 |
) |
U.S. government agency securities |
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|
4,964 |
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(36 |
) |
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5,471 |
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(789 |
) |
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10,435 |
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(825 |
) |
Obligations of state and political subdivisions |
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11,304 |
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(174 |
) |
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24,660 |
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(2,721 |
) |
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35,964 |
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|
(2,895 |
) |
Small business association (SBA) securities |
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|
191 |
|
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(1 |
) |
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218 |
|
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— |
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|
409 |
|
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(1 |
) |
U.S. Treasuries |
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— |
|
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— |
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— |
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— |
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— |
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|
|
— |
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Total |
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$ |
47,657 |
|
|
$ |
(385 |
) |
|
$ |
59,047 |
|
|
$ |
(8,632 |
) |
|
$ |
106,704 |
|
|
$ |
(9,017 |
) |
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Less than 12 Months |
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More than 12 Months |
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Total |
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Fair |
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Unrealized |
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Fair |
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Unrealized |
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Fair |
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Unrealized |
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Value |
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Losses |
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Value |
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|
Losses |
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|
Value |
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|
Losses |
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(In thousands) |
|
December 31, 2025 |
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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 |
) |
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|
5,510 |
|
|
|
(750 |
) |
Obligations of state and political subdivisions |
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|
1,901 |
|
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(3 |
) |
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31,025 |
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(2,230 |
) |
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32,926 |
|
|
|
(2,233 |
) |
Small business association (SBA) securities |
|
|
381 |
|
|
|
— |
|
|
|
223 |
|
|
|
(1 |
) |
|
|
604 |
|
|
|
(1 |
) |
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|
$ |
24,488 |
|
|
$ |
(55 |
) |
|
$ |
66,250 |
|
|
$ |
(8,010 |
) |
|
$ |
90,738 |
|
|
$ |
(8,065 |
) |
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| Summary of securities available-for-sale by contractual maturity |
The amortized cost and fair value of securities available-for-sale at March 31, 2026 by contractual maturity are shown below. Expected maturities will differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties:
|
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Amortized |
|
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Fair |
|
|
|
Cost |
|
|
Value |
|
|
|
(In thousands) |
|
Due in one year or less |
|
$ |
3,063 |
|
|
$ |
3,064 |
|
Due after one year through five years |
|
|
10,842 |
|
|
|
10,668 |
|
Due after five years through ten years |
|
|
39,888 |
|
|
|
36,695 |
|
Due after ten years |
|
|
2,361 |
|
|
|
2,015 |
|
Mortgage-backed securities (GSEs) |
|
|
116,939 |
|
|
|
112,115 |
|
|
|
$ |
173,093 |
|
|
$ |
164,557 |
|
|