The amortized costs, fair values, and unrealized gains and losses of debt securities available for sale were as follows as of the dates indicated (dollars in thousands):


March 31, 2026	Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses
Debt securities available for sale
Subordinated corporate bonds	$	5,000	$	—	$	(116)	$	4,884
Total	$	5,000	$	—	$	(116)	$	4,884


December 31, 2025	Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses
Debt securities available for sale
Subordinated corporate bonds	$	5,000	$	—	$	(262)	$	4,738
Total	$	5,000	$	—	$	(262)	$	4,738

As of March 31, 2026 and December 31, 2025, there was no allowance for credit losses on debt securities available for sale.

There were no sales of debt securities available for sale in the three months ended March 31, 2026 or 2025.

At March 31, 2026 and December 31, 2025, the Company held one bond which was in an unrealized loss position for more than twelve months. The Company believes the unrealized loss on this bond is interest rate driven and temporary.

The following tables show investments with gross unrealized losses and their market value aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at the dates indicated (dollars in thousands):


March 31, 2026	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt securities available for sale
Subordinated corporate bonds	$	—	$	—	$	4,884	$	(116)	$	4,884	$	(116)
Total	$	—	$	—	$	4,884	$	(116)	$	4,884	$	(116)


December 31, 2025	Less Than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Debt securities available for sale
Subordinated corporate bonds	$	—	$	—	$	4,738	$	(262)	$	4,738	$	(262)
Total	$	—	$	—	$	4,738	$	(262)	$	4,738	$	(262)

Debt securities, at par value, have the following contractual maturities as of March 31, 2026 (dollars in thousands):


March 31, 2026
	Within 1 Year		1 - 5 Years		5 - 10 Years		Greater than 10 years		Total
Debt securities available for sale
Subordinated corporate bonds	$	—	$	—	$	5,000	$	—	$	5,000
Total	$	—	$	—	$	5,000	$	—	$	5,000