Securities (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Securities |
|
| Schedule of amortized cost and estimated fair values of securities classified as Available-for-Sale |
| | | | | | | | | | | | | | | | | | Amortized | | Unrealized | | Unrealized | | Allowance for | | | | | | Cost | | Gain | | Loss | | Credit Losses | | Fair Value | | March 31, 2026 | | (in thousands) | Available-for-Sale Debt Securities: | | | | | | | | | | | | | | | | U.S. Treasury securities | | $ | 96,467 | | $ | 132 | | $ | (278) | | $ | — | | $ | 96,321 | U.S. Government agencies | | | 4,670 | | | 20 | | | (4) | | | — | | | 4,686 | Agency mortgage-backed securities | | | 91,838 | | | 100 | | | (2,085) | | | — | | | 89,853 | Agency collateralized mortgage obligations | | | 11,321 | | | 191 | | | (125) | | | — | | | 11,387 | Corporate bonds | | | 64,702 | | | 271 | | | (2,976) | | | — | | | 61,997 | Municipal obligations | | | 6,599 | | | — | | | (59) | | | — | | | 6,540 | SBA securities | | | 6,574 | | | — | | | (117) | | | — | | | 6,457 | Total | | $ | 282,171 | | $ | 714 | | $ | (5,644) | | $ | — | | $ | 277,241 |
| | | | | | | | | | | | | | | | | | Amortized | | Unrealized | | Unrealized | | Allowance for | | | | | | Cost | | Gain | | Loss | | Credit Losses | | Fair Value | | December 31, 2025 | | (in thousands) | Available-for-Sale Debt Securities: | | | | | | | | | | | | | | | | U.S. Treasury securities | | $ | 95,479 | | $ | 407 | | $ | (103) | | $ | — | | $ | 95,783 | U.S. Government agencies | | | 9,159 | | | 53 | | | — | | | — | | | 9,212 | Agency mortgage-backed securities | | | 69,682 | | | 162 | | | (1,253) | | | — | | | 68,591 | Agency collateralized mortgage obligations | | | 12,109 | | | 202 | | | (74) | | | — | | | 12,237 | Corporate bonds | | | 72,703 | | | 263 | | | (3,081) | | | — | | | 69,885 | Municipal obligations | | | 6,596 | | | — | | | (72) | | | — | | | 6,524 | SBA securities | | | 6,830 | | | — | | | (103) | | | — | | | 6,727 | Total | | $ | 272,558 | | $ | 1,087 | | $ | (4,686) | | $ | — | | $ | 268,959 |
|
| Schedule of maturities of securities available for sale |
| | | | | | | | | Available-for-Sale | | | Amortized Cost | | Fair Value | | | | (in thousands) | | | | | | | | Within one year | | $ | 66,586 | | $ | 66,344 | Over one year to five years | | | 68,355 | | | 68,092 | Over five years to ten years | | | 39,940 | | | 37,557 | Over ten years | | | 4,131 | | | 4,008 | | | | 179,012 | | | 176,001 | Agency mortgage-backed securities | | | 91,838 | | | 89,853 | Agency collateralized mortgage obligations | | | 11,321 | | | 11,387 | | | $ | 282,171 | | $ | 277,241 |
|
| Schedule of fair value and gross unrealized losses, individual securities have been in a continuous unrealized loss position |
| | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | | | | (Dollars in thousands) | | | | | Gross | | | | | Gross | | | | | Gross | | | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | March 31, 2026 | | Number of Securities | | Losses | | Value | | Losses | | Value | | Losses | | Value | U.S. Treasuries | | 24 | | $ | (207) | | $ | 46,177 | | $ | (71) | | $ | 2,930 | | $ | (278) | | $ | 49,107 | U.S. Government Agencies | | 1 | | | (4) | | | 1,621 | | | — | | | — | | | (4) | | | 1,621 | Agency mortgage-backed securities | | 36 | | | (882) | | | 48,968 | | | (1,203) | | | 31,175 | | | (2,085) | | | 80,143 | Agency collateralized mortgage obligations | | 4 | | | (7) | | | 1,958 | | | (118) | | | 6,897 | | | (125) | | | 8,855 | Corporate bonds | | 20 | | | (459) | | | 7,533 | | | (2,517) | | | 42,741 | | | (2,976) | | | 50,274 | Municipal obligations | | 6 | | | — | | | — | | | (59) | | | 6,540 | | | (59) | | | 6,540 | SBA securities | | 5 | | | (6) | | | 956 | | | (111) | | | 5,501 | | | (117) | | | 6,457 | Total | | 96 | | $ | (1,565) | | $ | 107,213 | | $ | (4,079) | | $ | 95,784 | | $ | (5,644) | | $ | 202,997 |
| | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | | | | (Dollars in thousands) | | | | | Gross | | | | | Gross | | | | | Gross | | | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | December 31, 2025 | | Number of Securities | | Losses | | Value | | Losses | | Value | | Losses | | Value | U.S. Treasury securities | | 8 | | $ | (11) | | $ | 8,929 | | $ | (92) | | $ | 10,945 | | $ | (103) | | $ | 19,874 | Agency mortgage-backed securities | | 25 | | | (301) | | | 26,876 | | | (952) | | | 31,890 | | | (1,253) | | | 58,766 | Agency collateralized mortgage obligations | | 4 | | | (7) | | | 1,995 | | | (67) | | | 7,324 | | | (74) | | | 9,319 | Corporate bonds | | 24 | | | (356) | | | 6,634 | | | (2,725) | | | 53,538 | | | (3,081) | | | 60,172 | Municipal obligations | | 6 | | | (1) | | | 1,440 | | | (71) | | | 5,084 | | | (72) | | | 6,524 | SBA securities | | 5 | | | (28) | | | 2,299 | | | (75) | | | 4,428 | | | (103) | | | 6,727 | Total | | 72 | | $ | (704) | | $ | 48,173 | | $ | (3,982) | | $ | 113,209 | | $ | (4,686) | | $ | 161,382 |
|