The amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income as of June 30, 2026 and December 31, 2025, respectively, were as follows:


Available-for-sale securities	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
June 30, 2026
U.S. government agency obligations	$	7,257	$	11	$	39	$	7,229

Mortgage-backed securities	79,531		—		15,543		63,988

Corporate debt securities	43,618		184		1,298		42,504
Student loan asset-backed securities	14,876		4		166		14,714

Total available-for-sale securities	$	145,282	$	199	$	17,046	$	128,435

December 31, 2025
U.S. government agency obligations	$	10,811	$	15	$	53	$	10,773

Mortgage-backed securities	82,264		—		15,580		66,684

Corporate debt securities	42,394		152		1,864		40,682
Student loan asset-backed securities	16,149		10		195		15,964

Total available-for-sale securities	$	151,618	$	177	$	17,692	$	134,103


Held-to-maturity securities	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Estimated Fair Value
June 30, 2026

Obligations of states and political subdivisions	$	300	$	—	$	9	$	291
Mortgage-backed securities	77,115		3		15,928		61,190
Total held-to-maturity securities	$	77,415	$	3	$	15,937	$	61,481

December 31, 2025
Obligations of states and political subdivisions	$	400	$	—	$	12	$	388
Mortgage-backed securities	79,810		6		16,087		63,729
Total held-to-maturity securities	$	80,210	$	6	$	16,099	$	64,117

At June 30, 2026, the Bank has pledged certain of its mortgage-backed securities with a carrying value of $31,118 as collateral to secure a line of credit with the Federal Reserve Bank. As of June 30, 2026, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of June 30, 2026, the Bank has pledged certain of its U.S. Government Agency securities with a carrying value of $42 and mortgage-backed securities with a carrying value of $1,675 as collateral against specific municipal deposits. As of June 30, 2026, the Bank also has mortgage-backed securities with a carrying value of $373 pledged as collateral to the Federal Home Loan Bank of Des Moines.

At December 31, 2025, the Bank had pledged certain of its mortgage-backed securities with a carrying value of $32,056 as collateral to secure a line of credit with the Federal Reserve Bank. As of December 31, 2025, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of December 31, 2025, the Bank had pledged certain of its U.S. Government Agency securities with a carrying value of $213 and mortgage-backed securities with a carrying value of $1,790 as collateral against specific municipal deposits. As of December 31, 2025, the Bank also had mortgage-backed securities with a carrying value of $401, pledged as collateral to the Federal Home Loan Bank of Des Moines.


	June 30, 2026				December 31, 2025
Available-for-sale securities	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	1,980	$	1,991	$	2,013	$	2,006
Due after one year through five years	10,790		10,649		8,533		8,574
Due after five years through ten years	34,178		33,162		38,403		36,617
Due after ten years	18,803		18,645		20,405		20,222
Total securities with contractual maturities	65,751		64,447		69,354		67,419
Mortgage-backed securities	79,531		63,988		82,264		66,684

Total available-for-sale securities	$	145,282	$	128,435	$	151,618	$	134,103


	June 30, 2026				December 31, 2025
Held-to-maturity securities	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	150	$	147	$	100	$	100
Due after one year through five years	150		144		300		288


Total securities with contractual maturities	300		291		400		388
Mortgage-backed securities	77,115		61,190		79,810		63,729
Total held-to-maturity securities	$	77,415	$	61,481	$	80,210	$	64,117

Securities with unrealized losses at June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:


	Less than 12 Months				12 Months or More				Total
Available-for-sale securities	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
June 30, 2026
U.S. government agency obligations	$	1,496	$	2	$	3,095	$	37	$	4,591	$	39

Mortgage-backed securities	2,664		34		61,324		15,509		63,988		15,543

Corporate debt securities	6,706		103		23,255		1,195		29,961		1,298
Student loan asset-backed securities	3,816		14		10,081		152		13,897		166

Total	$	14,682	$	153	$	97,755	$	16,893	$	112,437	$	17,046
December 31, 2025
U.S. government agency obligations	$	1,275	$	4	$	5,997	$	49	$	7,272	$	53

Mortgage-backed securities	—		—		66,684		15,580		66,684		15,580

Corporate debt securities	2,075		48		25,134		1,816		27,209		1,864
Student loan asset-backed securities	4,308		13		10,783		182		15,091		195

Total	$	7,658	$	65	$	108,598	$	17,627	$	116,256	$	17,692

At June 30, 2026, no ACL was established for available-for-sale or held-to-maturity securities. Substantially all the held-to-maturity portfolio is made up of agency backed mortgage securities. These securities are guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. At June 30, 2026, there were no past due held-to-maturity securities. Accordingly, the Company does not expect to incur credit losses on these securities. Unrealized losses on available-for-sale investment securities have not been recognized into income because the issuers’ bonds are agency backed securities or other securities that all principal and interest is expected to be received on a timely basis. Furthermore, the Company does not intend to sell, and it is more likely than not that management will not be required to sell, the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates. The issuers continue to make timely principal and interest payments on their bonds.