| Investment in Debt and Equity Securities and Other Trading Assets [Text Block] |
NOTE 3 - INVESTMENT SECURITIES
Our investment portfolio is comprised primarily of U.S. government and SBA agency securities, mortgage-backed securities ("MBS") backed by government-sponsored entities, collateral mortgage obligations ("CMO") and commercial paper. The following table summarizes the amortized cost and fair value of investment securities available for sale (“AFS”) and held to maturity (“HTM”) and the corresponding amounts of gross unrealized gains and losses as of the dates indicated:
| | | | | | | Gross | | | Gross | | | | | |
| | | Amortized | | | Unrealized | | | Unrealized | | | Fair | |
| June 30, 2026 | | Cost | | | Gains | | | Losses | | | Value | |
| Available for sale | | (dollars in thousands) | |
| Government agency securities | | $ | 20,496 | | | $ | — | | | $ | (214 | ) | | $ | 20,282 | |
| SBA agency securities | | | 19,628 | | | | — | | | | (309 | ) | | | 19,319 | |
| MBS: Residential | | | 93,622 | | | | 201 | | | | (5,013 | ) | | | 88,810 | |
| MBS: Commercial | | | 9,993 | | | | — | | | | (28 | ) | | | 9,965 | |
| CMO: Residential | | | 115,089 | | | | 159 | | | | (9,381 | ) | | | 105,867 | |
| CMO: Commercial | | | 82,065 | | | | 111 | | | | (2,141 | ) | | | 80,035 | |
| Commercial paper | | | 49,672 | | | | — | | | | (9 | ) | | | 49,663 | |
| Corporate debt securities | | | 24,907 | | | | 73 | | | | (1,518 | ) | | | 23,462 | |
| Municipal tax-exempt securities | | | 12,550 | | | | — | | | | (2,793 | ) | | | 9,757 | |
| Total available for sale | | $ | 428,022 | | | $ | 544 | | | $ | (21,406 | ) | | $ | 407,160 | |
| | | | | | | | | | | | | | | | | |
| Held to maturity | | | | | | | | | | | | | | | | |
| Municipal tax-exempt securities | | $ | 4,181 | | | $ | — | | | $ | (103 | ) | | $ | 4,078 | |
| Total held to maturity | | $ | 4,181 | | | $ | — | | | $ | (103 | ) | | $ | 4,078 | |
| | | | | | | Gross | | | Gross | | | | | |
| | | Amortized | | | Unrealized | | | Unrealized | | | Fair | |
| December 31, 2025 | | Cost | | | Gains | | | Losses | | | Value | |
| Available for sale | | (dollars in thousands) | |
| Government agency securities | | $ | 22,850 | | | $ | 34 | | | $ | (179 | ) | | $ | 22,705 | |
| SBA agency securities | | | 21,326 | | | | 90 | | | | (236 | ) | | | 21,180 | |
| MBS: Residential | | | 91,049 | | | | 634 | | | | (4,505 | ) | | | 87,178 | |
| MBS: Commercial | | | 5,010 | | | | — | | | | (33 | ) | | | 4,977 | |
| CMO: Residential | | | 120,475 | | | | 760 | | | | (8,740 | ) | | | 112,495 | |
| CMO: Commercial | | | 102,755 | | | | 183 | | | | (2,161 | ) | | | 100,777 | |
| Commercial paper | | | 19,948 | | | | — | | | | — | | | | 19,948 | |
| Corporate debt securities | | | 30,165 | | | | 75 | | | | (1,811 | ) | | | 28,429 | |
| Municipal tax-exempt securities | | | 12,567 | | | | — | | | | (3,052 | ) | | | 9,515 | |
| Total available for sale | | $ | 426,145 | | | $ | 1,776 | | | $ | (20,717 | ) | | $ | 407,204 | |
| | | | | | | | | | | | | | | | | |
| Held to maturity | | | | | | | | | | | | | | | | |
| Municipal tax-exempt securities | | $ | 4,184 | | | $ | — | | | $ | (81 | ) | | $ | 4,103 | |
| Total held to maturity | | $ | 4,184 | | | $ | — | | | $ | (81 | ) | | $ | 4,103 | |
At June 30, 2026 and December 31, 2025, investment securities with a fair value of $44.8 million and $48.7 million were pledged to secure certificates of deposit from the State of California. One security with a fair value of $30,000 and $36,000 was pledged to secure a local agency deposit at June 30, 2026 and December 31, 2025.
There were no sales of investment securities during the three months ended June 30, 2026, March 31, 2026, and June 30, 2025 and six months ended June 30, 2026 and 2025.
Accrued interest receivable for investment securities at June 30, 2026 and December 31, 2025 totaled $1.5 million and $1.6 million.
The following tables show the amortized cost and fair value of the investment securities portfolio, by expected maturity, as of the dates indicated. However, expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Accordingly, MBS and CMO are classified in accordance with their estimated average life.
| | | One Year or Less | | | More than One Year to Five Years | | | More than Five Years to Ten Years | | | More than Ten Years | | | Total | |
| | | Amortized Cost | | | Fair Value | | | Amortized Cost | | | Fair Value | | | Amortized Cost | | | Fair Value | | | Amortized Cost | | | Fair Value | | | Amortized Cost | | | Fair Value | |
| June 30, 2026 | | (dollars in thousands) |
| Government agency securities | | $ | — | | | $ | — | | | $ | 20,496 | | | $ | 20,282 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 20,496 | | | $ | 20,282 | |
| SBA agency securities | | | — | | | | — | | | | 6,162 | | | | 6,034 | | | | 13,466 | | | | 13,285 | | | | — | | | | — | | | | 19,628 | | | | 19,319 | |
| MBS: Residential | | | — | | | | — | | | | 26,842 | | | | 26,470 | | | | 66,780 | | | | 62,340 | | | | — | | | | — | | | | 93,622 | | | | 88,810 | |
| MBS: Commercial | | | 4,983 | | | | 4,974 | | | | 5,010 | | | | 4,991 | | | | — | | | | — | | | | — | | | | — | | | | 9,993 | | | | 9,965 | |
| CMO: Residential | | | 785 | | | | 784 | | | | 70,587 | | | | 69,335 | | | | 43,717 | | | | 35,748 | | | | — | | | | — | | | | 115,089 | | | | 105,867 | |
| CMO: Commercial | | | 2,367 | | | | 2,334 | | | | 37,518 | | | | 37,035 | | | | 42,180 | | | | 40,666 | | | | — | | | | — | | | | 82,065 | | | | 80,035 | |
| Commercial paper | | | 49,672 | | | | 49,663 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | 49,672 | | | | 49,663 | |
| Corporate debt securities | | | 2,007 | | | | 2,001 | | | | 12,422 | | | | 12,132 | | | | 7,900 | | | | 7,442 | | | | 2,578 | | | | 1,887 | | | | 24,907 | | | | 23,462 | |
| Municipal tax-exempt securities | | | — | | | | — | | | | — | | | | — | | | | 1,079 | | | | 909 | | | | 11,471 | | | | 8,848 | | | | 12,550 | | | | 9,757 | |
| Total AFS | | $ | 59,814 | | | $ | 59,756 | | | $ | 179,037 | | | $ | 176,279 | | | $ | 175,122 | | | $ | 160,390 | | | $ | 14,049 | | | $ | 10,735 | | | $ | 428,022 | | | $ | 407,160 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Municipal tax-exempt securities | | $ | — | | | $ | — | | | $ | 1,741 | | | $ | 1,719 | | | $ | 2,440 | | | $ | 2,359 | | | $ | — | | | $ | — | | | $ | 4,181 | | | $ | 4,078 | |
| Total HTM | | $ | — | | | $ | — | | | $ | 1,741 | | | $ | 1,719 | | | $ | 2,440 | | | $ | 2,359 | | | $ | — | | | $ | — | | | $ | 4,181 | | | $ | 4,078 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| December 31, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Government agency securities | | $ | 65 | | | $ | 65 | | | $ | 22,785 | | | $ | 22,640 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 22,850 | | | $ | 22,705 | |
| SBA agency securities | | | — | | | | — | | | | 6,496 | | | | 6,456 | | | | 14,830 | | | | 14,724 | | | | — | | | | — | | | | 21,326 | | | | 21,180 | |
| MBS: Residential | | | — | | | | — | | | | 26,636 | | | | 26,537 | | | | 64,413 | | | | 60,641 | | | | — | | | | — | | | | 91,049 | | | | 87,178 | |
| MBS: Commercial | | | — | | | | — | | | | 5,010 | | | | 4,977 | | | | — | | | | — | | | | — | | | | — | | | | 5,010 | | | | 4,977 | |
| CMO: Residential | | | 6,198 | | | | 6,248 | | | | 68,422 | | | | 68,100 | | | | 45,855 | | | | 38,147 | | | | — | | | | — | | | | 120,475 | | | | 112,495 | |
| CMO: Commercial | | | 6,629 | | | | 6,591 | | | | 51,805 | | | | 51,365 | | | | 44,321 | | | | 42,821 | | | | — | | | | — | | | | 102,755 | | | | 100,777 | |
| Commercial paper | | | 19,948 | | | | 19,948 | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | 19,948 | | | | 19,948 | |
| Corporate debt securities | | | 4,022 | | | | 4,006 | | | | 8,903 | | | | 8,733 | | | | 14,650 | | | | 13,756 | | | | 2,590 | | | | 1,934 | | | | 30,165 | | | | 28,429 | |
| Municipal tax-exempt securities | | | — | | | | — | | | | — | | | | — | | | | 1,081 | | | | 921 | | | | 11,486 | | | | 8,594 | | | | 12,567 | | | | 9,515 | |
| Total AFS | | $ | 36,862 | | | $ | 36,858 | | | $ | 190,057 | | | $ | 188,808 | | | $ | 185,150 | | | $ | 171,010 | | | $ | 14,076 | | | $ | 10,528 | | | $ | 426,145 | | | $ | 407,204 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Municipal tax-exempt securities | | $ | — | | | $ | — | | | $ | 860 | | | $ | 857 | | | $ | 2,817 | | | $ | 2,742 | | | $ | 507 | | | $ | 504 | | | $ | 4,184 | | | $ | 4,103 | |
| Total HTM | | $ | — | | | $ | — | | | $ | 860 | | | $ | 857 | | | $ | 2,817 | | | $ | 2,742 | | | $ | 507 | | | $ | 504 | | | $ | 4,184 | | | $ | 4,103 | |
The following tables show the fair value and gross unrealized losses of our investment securities, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position, as of the dates indicated:
| | | Less than Twelve Months | | | Twelve Months or More | | | Total | |
| | | Fair Value | | | Unrealized Losses | | | # of Issuances | | | Fair Value | | | Unrealized Losses | | | # of Issuances | | | Fair Value | | | Unrealized Losses | | | # of Issuances | |
| June 30, 2026 | | (dollars in thousands) | |
| Government agency securities | | $ | 11,027 | | | $ | (56 | ) | | | 3 | | | $ | 5,301 | | | $ | (158 | ) | | | 2 | | | $ | 16,328 | | | $ | (214 | ) | | | 5 | |
| SBA agency securities | | | 16,551 | | | | (163 | ) | | | 6 | | | | 2,768 | | | | (146 | ) | | | 5 | | | | 19,319 | | | | (309 | ) | | | 11 | |
| MBS: Residential | | | 42,983 | | | | (594 | ) | | | 12 | | | | 25,644 | | | | (4,419 | ) | | | 15 | | | | 68,627 | | | | (5,013 | ) | | | 27 | |
| MBS: Commercial | | | 9,965 | | | | (28 | ) | | | 2 | | | | — | | | | — | | | | — | | | | 9,965 | | | | (28 | ) | | | 2 | |
| CMO: Residential | | | 27,637 | | | | (275 | ) | | | 8 | | | | 48,563 | | | | (9,106 | ) | | | 23 | | | | 76,200 | | | | (9,381 | ) | | | 31 | |
| CMO: Commercial | | | 14,891 | | | | (34 | ) | | | 4 | | | | 42,155 | | | | (2,107 | ) | | | 19 | | | | 57,046 | | | | (2,141 | ) | | | 23 | |
| Commercial paper | | | 19,786 | | | | (9 | ) | | | 2 | | | | — | | | | — | | | | — | | | | 19,786 | | | | (9 | ) | | | 2 | |
| Corporate debt securities | | | 986 | | | | (13 | ) | | | 2 | | | | 16,604 | | | | (1,505 | ) | | | 18 | | | | 17,590 | | | | (1,518 | ) | | | 20 | |
| Municipal tax-exempt securities | | | — | | | | — | | | | — | | | | 9,757 | | | | (2,793 | ) | | | 11 | | | | 9,757 | | | | (2,793 | ) | | | 11 | |
| Total AFS | | $ | 143,826 | | | $ | (1,172 | ) | | | 39 | | | $ | 150,792 | | | $ | (20,234 | ) | | | 93 | | | $ | 294,618 | | | $ | (21,406 | ) | | | 132 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Municipal tax-exempt securities | | $ | 1,173 | | | $ | (17 | ) | | | 3 | | | $ | 2,465 | | | $ | (86 | ) | | | 5 | | | $ | 3,638 | | | $ | (103 | ) | | | 8 | |
| Total HTM | | $ | 1,173 | | | $ | (17 | ) | | | 3 | | | $ | 2,465 | | | $ | (86 | ) | | | 5 | | | $ | 3,638 | | | $ | (103 | ) | | | 8 | |
| | | Less than Twelve Months | | | Twelve Months or More | | | Total | |
| | | Fair Value | | | Unrealized Losses | | | # of Issuances | | | Fair Value | | | Unrealized Losses | | | # of Issuances | | | Fair Value | | | Unrealized Losses | | | # of Issuances | |
| December 31, 2025 | | (dollars in thousands) | |
| Government agency securities | | $ | 1,749 | | | $ | (6 | ) | | | 1 | | | $ | 6,572 | | | $ | (173 | ) | | | 3 | | | $ | 8,321 | | | $ | (179 | ) | | | 4 | |
| SBA agency securities | | | 7,654 | | | | (93 | ) | | | 3 | | | | 2,962 | | | | (143 | ) | | | 5 | | | | 10,616 | | | | (236 | ) | | | 8 | |
| MBS: Residential | | | 14,196 | | | | (91 | ) | | | 4 | | | | 27,573 | | | | (4,414 | ) | | | 15 | | | | 41,769 | | | | (4,505 | ) | | | 19 | |
| MBS: Commercial | | | 4,977 | | | | (33 | ) | | | 1 | | | | — | | | | — | | | | — | | | | 4,977 | | | | (33 | ) | | | 1 | |
| CMO: Residential | | | 3,130 | | | | (1 | ) | | | 1 | | | | 53,195 | | | | (8,739 | ) | | | 24 | | | | 56,325 | | | | (8,740 | ) | | | 25 | |
| CMO: Commercial | | | 13,947 | | | | (31 | ) | | | 4 | | | | 49,366 | | | | (2,130 | ) | | | 21 | | | | 63,313 | | | | (2,161 | ) | | | 25 | |
| Corporate debt securities | | | — | | | | — | | | | — | | | | 22,577 | | | | (1,811 | ) | | | 24 | | | | 22,577 | | | | (1,811 | ) | | | 24 | |
| Municipal tax-exempt securities | | | — | | | | — | | | | — | | | | 9,515 | | | | (3,052 | ) | | | 11 | | | | 9,515 | | | | (3,052 | ) | | | 11 | |
| Total AFS | | $ | 45,653 | | | $ | (255 | ) | | | 14 | | | $ | 171,760 | | | $ | (20,462 | ) | | | 103 | | | $ | 217,413 | | | $ | (20,717 | ) | | | 117 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Municipal tax-exempt securities | | $ | — | | | $ | — | | | | — | | | $ | 3,663 | | | $ | (81 | ) | | | 8 | | | $ | 3,663 | | | $ | (81 | ) | | | 8 | |
| Total HTM | | $ | — | | | $ | — | | | | — | | | $ | 3,663 | | | $ | (81 | ) | | | 8 | | | $ | 3,663 | | | $ | (81 | ) | | | 8 | |
The securities that were in an unrealized loss position at June 30, 2026 and December 31, 2025, were evaluated to determine whether the decline in fair value below the amortized cost basis resulted from a credit loss or other factors. We concluded that the unrealized losses were primarily attributed to yield curve movement. All SBA agency securities, mortgage-backed securities, and collateralized mortgage obligations are issued by government or government sponsored entities and have the support of the U.S. federal government. The issuers have not, to our knowledge, established any cause for default on these securities. We expect to recover the amortized cost basis of our securities and have no present intent to sell and do not expect to be required to sell securities that have declined below their cost before their anticipated recovery. As of June 30, 2026 and December 31, 2025, all of our HTM securities were rated “AA-” or above. Accordingly, no ACL was recorded as of June 30, 2026 and December 31, 2025, against HTM or AFS securities, and there was no provision for credit losses recognized for the three months and six months ended June 30, 2026 and 2025.
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