Investment Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of Investment Securities Available-for-Sale and Held-to-Maturity |
Details of investment securities available-for-sale and held-to-maturity as of June 30, 2026 and December 31, 2025 were as follows:
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Available-for-Sale |
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June 30, 2026 |
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|
|
|
|
Gross |
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|
Gross |
|
|
Estimated |
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|
|
Amortized |
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|
Unrealized |
|
|
Unrealized |
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|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
111,049 |
|
|
$ |
492 |
|
|
$ |
(2,196 |
) |
|
$ |
109,345 |
|
Commercial |
|
|
7,691 |
|
|
|
26 |
|
|
|
(168 |
) |
|
|
7,549 |
|
Obligations of U.S. government-sponsored agencies |
|
|
16,409 |
|
|
|
84 |
|
|
|
(397 |
) |
|
|
16,096 |
|
Obligations of states and political subdivisions |
|
|
1,390 |
|
|
|
60 |
|
|
|
— |
|
|
|
1,450 |
|
Corporate notes |
|
|
16,967 |
|
|
|
66 |
|
|
|
(435 |
) |
|
|
16,598 |
|
U.S. Treasury securities |
|
|
14,963 |
|
|
|
— |
|
|
|
(423 |
) |
|
|
14,540 |
|
Total |
|
$ |
168,469 |
|
|
$ |
728 |
|
|
$ |
(3,619 |
) |
|
$ |
165,578 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
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|
June 30, 2026 |
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|
|
|
|
Gross |
|
|
Gross |
|
|
Estimated |
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
124 |
|
|
$ |
— |
|
|
$ |
(3 |
) |
|
$ |
121 |
|
Obligations of U.S. government-sponsored agencies |
|
|
257 |
|
|
|
— |
|
|
|
(14 |
) |
|
|
243 |
|
Total |
|
$ |
381 |
|
|
$ |
— |
|
|
$ |
(17 |
) |
|
$ |
364 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
December 31, 2025 |
|
|
|
|
|
|
Gross |
|
|
Gross |
|
|
Estimated |
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
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Residential |
|
$ |
105,403 |
|
|
$ |
1,783 |
|
|
$ |
(1,408 |
) |
|
$ |
105,778 |
|
Commercial |
|
|
7,568 |
|
|
|
84 |
|
|
|
(69 |
) |
|
|
7,583 |
|
Obligations of U.S. government-sponsored agencies |
|
|
16,620 |
|
|
|
190 |
|
|
|
(306 |
) |
|
|
16,504 |
|
Obligations of states and political subdivisions |
|
|
1,690 |
|
|
|
63 |
|
|
|
(3 |
) |
|
|
1,750 |
|
Corporate notes |
|
|
17,764 |
|
|
|
110 |
|
|
|
(848 |
) |
|
|
17,026 |
|
U.S. Treasury securities |
|
|
19,992 |
|
|
|
— |
|
|
|
(558 |
) |
|
|
19,434 |
|
Total |
|
$ |
169,037 |
|
|
$ |
2,230 |
|
|
$ |
(3,192 |
) |
|
$ |
168,075 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
December 31, 2025 |
|
|
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Estimated
Fair
Value |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
163 |
|
|
$ |
— |
|
|
$ |
(4 |
) |
|
$ |
159 |
|
Obligations of U.S. government-sponsored agencies |
|
|
302 |
|
|
|
— |
|
|
|
(12 |
) |
|
|
290 |
|
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
465 |
|
|
$ |
— |
|
|
$ |
(16 |
) |
|
$ |
449 |
|
|
| Maturities of Investment Securities Available-for-Sale and Held-to-Maturity |
The scheduled maturities of investment securities available-for-sale and held-to-maturity as of June 30, 2026 are presented in the following table:
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Available-for-Sale |
|
|
Held-to-Maturity |
|
|
|
Amortized
Cost |
|
|
Estimated
Fair Value |
|
|
Amortized
Cost |
|
|
Estimated
Fair Value |
|
|
|
(Dollars in Thousands) |
|
Maturing within one year |
|
$ |
5,077 |
|
|
$ |
5,065 |
|
|
$ |
— |
|
|
$ |
— |
|
Maturing after one to five years |
|
|
24,575 |
|
|
|
23,696 |
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|
|
125 |
|
|
|
123 |
|
Maturing after five to ten years |
|
|
69,284 |
|
|
|
67,525 |
|
|
|
196 |
|
|
|
183 |
|
Maturing after ten years |
|
|
69,533 |
|
|
|
69,292 |
|
|
|
60 |
|
|
|
58 |
|
Total |
|
$ |
168,469 |
|
|
$ |
165,578 |
|
|
$ |
381 |
|
|
$ |
364 |
|
|
| Schedule of Fair Value and Unrealized Loss on Investments for Securities for Which Allowance for Credit Losses has not been Recorded |
The following tables reflect fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of June 30, 2026 and December 31, 2025.
|
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|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
June 30, 2026 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
55,354 |
|
|
$ |
(886 |
) |
|
$ |
22,763 |
|
|
$ |
(1,310 |
) |
Commercial |
|
|
2,168 |
|
|
|
(114 |
) |
|
|
1,669 |
|
|
|
(54 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
6,390 |
|
|
|
(47 |
) |
|
|
4,704 |
|
|
|
(350 |
) |
Corporate notes |
|
|
— |
|
|
|
— |
|
|
|
14,532 |
|
|
|
(435 |
) |
U.S. Treasury securities |
|
|
— |
|
|
|
— |
|
|
|
14,540 |
|
|
|
(423 |
) |
Total |
|
$ |
63,912 |
|
|
$ |
(1,047 |
) |
|
$ |
58,208 |
|
|
$ |
(2,572 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
June 30, 2026 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
121 |
|
|
$ |
(3 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
— |
|
|
|
— |
|
|
|
243 |
|
|
|
(14 |
) |
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
364 |
|
|
$ |
(17 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
|
December 31, 2025 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Residential |
|
$ |
24,202 |
|
|
$ |
(187 |
) |
|
$ |
22,392 |
|
|
$ |
(1,221 |
) |
Commercial |
|
|
— |
|
|
|
— |
|
|
|
3,287 |
|
|
|
(69 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
— |
|
|
|
— |
|
|
|
4,751 |
|
|
|
(306 |
) |
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
298 |
|
|
|
(3 |
) |
Corporate notes |
|
|
— |
|
|
|
— |
|
|
|
14,915 |
|
|
|
(848 |
) |
U.S. Treasury securities |
|
|
— |
|
|
|
— |
|
|
|
19,434 |
|
|
|
(558 |
) |
Total |
|
$ |
24,202 |
|
|
$ |
(187 |
) |
|
$ |
65,077 |
|
|
$ |
(3,005 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity |
|
|
|
December 31, 2025 |
|
|
|
Less than 12 Months |
|
|
12 Months or More |
|
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
Fair
Value |
|
|
Unrealized
Losses |
|
|
|
(Dollars in Thousands) |
|
Mortgage-backed securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
159 |
|
|
$ |
(4 |
) |
Obligations of U.S. government-sponsored agencies |
|
|
— |
|
|
|
— |
|
|
|
290 |
|
|
|
(12 |
) |
Obligations of states and political subdivisions |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
449 |
|
|
$ |
(16 |
) |
|