v3.26.1
Available for Sale Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Available for Sale Securities [Abstract]  
Amortized Cost and Fair Value of Investment Securities
The amortized cost, gross unrealized gains and losses, allowance of credit losses and fair value of investment securities at June 30, 2026 and December 31, 2025 were as follows (in thousands):

         
Gross
    
Gross
    
Allowance
        
   
Amortized
    
Unrealized
    
Unrealized
    
for Credit
    
Fair
  
June 30, 2026
  
Cost
    
Gains
    
Losses
    
Losses
    
Value
  
Available-for-sale securities:
                              
U.S. agency securities
  
$
46,011
    
$
-
    
$
(3,121
)
  
$
-
    
$
42,890
  
U.S. treasury securities
    
77,028
      
61
      
(1,805
)
    
-
      
75,284
  
Obligations of state and political subdivisions
    
137,495
      
1,089
      
(5,544
)
    
-
      
133,040
  
Corporate obligations
    
5,663
      
312
      
(106
)
    
-
      
5,869
  
Mortgage-backed securities in government sponsored entities
    
243,973
      
524
      
(10,269
)
    
-
      
234,228
  
Total available-for-sale securities
  
$
510,170
    
$
1,986
    
$
(20,845
)
  
$
-
    
$
491,311
  

December 31, 2025
                                        
Available-for-sale securities:
                                        
U.S. agency securities
  
$
52,651
    
$
12
    
$
(2,908
)
  
$
-
    
$
49,755
  
U.S. treasury securities
    
84,551
      
225
      
(2,122
)
    
-
      
82,654
  
Obligations of state and political subdivisions
    
120,608
      
1,070
      
(5,792
)
    
-
      
115,886
  
Corporate obligations
    
11,304
      
405
      
(412
)
    
-
      
11,297
  
Mortgage-backed securities in government sponsored entities
    
193,405
      
1,103
      
(9,359
)
    
-
      
185,149
  
Total available-for-sale securities
  
$
462,519
    
$
2,815
    
$
(20,593
)
  
$
-
    
$
444,741
  
Unrealized Losses and Fair Value of Investments
The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time, which individual securities have been in a continuous unrealized loss position, at June 30, 2026 and December 31, 2025 (in thousands). As of June 30, 2026, the Company owned 276 securities whose fair value was less than their cost basis.

June 30, 2026
  
Less than Twelve Months
    
Twelve Months or Greater
    
Total
  
         
Gross
          
Gross
          
Gross
  
   
Fair
    
Unrealized
    
Fair
    
Unrealized
    
Fair
    
Unrealized
  
   
Value
    
Losses
    
Value
    
Losses
    
Value
    
Losses
  
U.S. agency securities
  
$
-
    
$
-
    
$
42,890
    
$
(3,121
)
  
$
42,890
    
$
(3,121
)
U.S. treasury securities
    
-
      
-
      
58,178
      
(1,805
)
    
58,178
      
(1,805
)
Obligations of state and political subdivisions
    
14,813
      
(74
)
    
70,972
      
(5,470
)
    
85,785
      
(5,544
)
Corporate obligations
    
-
      
-
      
2,041
      
(106
)
    
2,041
      
(106
)
Mortgage-backed securities in government sponsored entities
    
87,438
      
(998
)
    
71,469
      
(9,271
)
    
158,907
      
(10,269
)
Total securities
  
$
102,251
    
$
(1,072
)
  
$
245,550
    
$
(19,773
)
  
$
347,801
    
$
(20,845
)

December 31, 2025
                                                
U.S. agency securities
  
$
-
    
$
-
    
$
45,104
    
$
(2,908
)
  
$
45,104
    
$
(2,908
)
U.S. treasury securities
    
-
      
-
      
72,784
      
(2,122
)
    
72,784
      
(2,122
)
Obligations of states and political subdivisions
    
5,642
      
(98
)
    
72,858
      
(5,694
)
    
78,500
      
(5,792
)
Corporate obligations
    
-
      
-
      
6,588
      
(412
)
    
6,588
      
(412
)
Mortgage-backed securities in government sponsored entities
    
36,858
      
(247
)
    
79,922
      
(9,112
)
    
116,780
      
(9,359
)
Total securities
  
$
42,500
    
$
(345
)
  
$
277,256
    
$
(20,248
)
  
$
319,756
    
$
(20,593
)
Unrealized Gains Related to Equity Securities
The following table presents the net gains on the Company’s equity investments recognized in earnings during the three and six month periods ended June 30, 2026 and  2025, and the portion of unrealized gains for the period that relates to equity investments held at June 30, 2026 and 2025 (in thousands):

   
Three Months Ended
    
Six Months Ended
  
   
June 30,
    
June 30,
  
Equity Securities
  
2026
    
2025
    
2026
    
2025
  
Net gains recognized in equity securities during the period
  
$
96
    
$
32
    
$
115
    
$
21
  
Less: Net gains realized on the sale of equity securities during the period
    
-
      
-
      
-
      
-
  
Net unrealized gains
 
$
96
    
$
32
    
$
115
    
$
21
  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.   The amortized cost and fair value of debt securities at June 30, 2026, by contractual maturity, are shown below (in thousands):
 
   
Amortized
        
   
Cost
    
Fair Value
  
Available-for-sale debt securities:
            
Due in one year or less
  
$
47,089
    
$
46,488
  
Due after one year through five years
    
106,900
      
102,693
  
Due after five years through ten years
    
86,560
      
82,414
  
Due after ten years
    
269,621
      
259,716
  
Total
  
$
510,170
    
$
491,311