The amortized cost and estimated fair values of securities available-for-sale along with allowance for credit losses, gross unrealized gains and losses at June 30, 2026 and December 31, 2025 are summarized in the tables below:


	June 30, 2026
(In thousands of dollars)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. Treasuries	$	5,998	$	-	$	-	$	87	$	5,911
Municipal obligations		62,840		-		135		6,464		56,511
Mortgage-backed securities		214,279		-		597		10,345		204,531
Asset-backed securities		26,233		-		193		122		26,304
Corporate debt securities		55,221		-		958		854		55,325
Total securities available-for-sale	$	364,571	$	-	$	1,883	$	17,872	$	348,582


	December 31, 2025
(In thousands of dollars)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. Treasuries	$	5,996	$	-	$	-	$	146	$	5,850
Municipal obligations		64,878		-		114		6,350		58,642
Mortgage-backed securities		188,509		-		1,264		9,713		180,060
Asset-backed securities		26,897		-		237		134		27,000
Corporate debt securities		59,079		-		929		1,057		58,951
Total securities available-for-sale	$	345,359	$	-	$	2,544	$	17,400	$	330,503

The following is a summary of maturities of available-for-sale ("AFS") securities as of June 30, 2026. The amortized cost and estimated fair values are based on the contractual maturity dates. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations with or without penalty. Mortgage-backed securities are not presented by maturity date because pay-downs are expected before contractual maturity dates.


	Amortized		Estimated
(In thousands of dollars)	Cost		Fair Value
Due in one year or less	$	4,999	$	4,962
Due after one year but within five years		21,691		21,624
Due after five years but within ten years		78,020		74,682
Due after ten years		45,582		42,783
Mortgage-backed securities		214,279		204,531
Total	$	364,571	$	348,582

The following table shows securities in unrealized loss position for which an allowance for credit losses ("ACL") has not been recorded and the length of time they were in continuous loss positions as of June 30, 2026:


	Less than				Twelve months
	Twelve months				or more				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
(In thousands of dollars)	Fair Value		losses		Fair Value		losses		Fair Value		losses
U.S. Treasuries	$	-	$	-	$	5,911	$	87	$	5,911	$	87
Municipal obligations		996		18		52,013		6,446		53,009		6,464
Mortgage-backed securities		49,406		579		104,196		9,766		153,602		10,345
Asset-backed securities		5,428		27		6,596		95		12,024		122
Corporate debt securities		2,991		9		15,155		845		18,146		854
Total AFS securities	$	58,821	$	633	$	183,871	$	17,239	$	242,692	$	17,872

The following table shows securities in unrealized loss position for which an ACL has not been recorded and the length of time they were in continuous loss positions as of December 31, 2025:


	Less than				Twelve months
	Twelve months				or more				Total
	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
(In thousands of dollars)	Fair Value		losses		Fair Value		losses		Fair Value		losses
U.S. Treasuries	$	-	$	-	$	5,850	$	146	$	5,850	$	146
Municipal obligations		-		-		55,162		6,350		55,162		6,350
Mortgage-backed securities		9,712		58		107,857		9,655		117,569		9,713
Asset-backed securities		-		-		7,060		134		7,060		134
Corporate debt securities		2,963		38		16,480		1,019		19,443		1,057
Total AFS securities	$	12,675	$	96	$	192,409	$	17,304	$	205,084	$	17,400

AFS securities are recorded at fair market value. Of the 141 securities in an unrealized loss position at June 30, 2026, 24 had been in a continuous loss position for less than twelve months and 117 for twelve months or more. The Company believes, based on industry analyst reports, credit ratings and/or government guarantees, that the deterioration in value is attributable to changes in market interest rates and is not in the credit quality of the issuer and therefore, these losses are not considered credit-related and therefore are not required to be charged to the allowance.

Based on the results of management's review at June 30, 2026, none of the unrealized loss was attributable to credit impairment and all $17.9 million in unrealized loss was determined to be from factors other than credit. There can be no assurance that the Company will not conclude in future periods that conditions existing at that time indicate some or all of these securities may be sold or are credit-related impaired, which would require a charge to earnings in such periods.

There were no sales of AFS securities during the three and six months ended June 30, 2026 and 2025.

At June 30, 2026, investment securities with a book value of $79.2 million and a market value of $72.3 million were pledged to secure federal funds lines of credit, Federal Reserve Bank Discount Window credit availability, and municipal deposits. At December 31, 2025, investment securities with a book value of $63.8 million and a market value of $57.8 million were pledged to secure federal funds lines of credit, Federal Reserve Bank Discount Window credit availability, and municipal deposits.