Investment Securities (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Investment Securities [Abstract] |
|
| Amortized Cost and Fair Value of Debt Securities Available for Sale |
The amortized cost and fair value of the debt securities available for sale are as follows:
|
|
|
June 30, 2026
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government sponsored enterprises
|
|
$
|
14,992 |
|
|
$
|
- |
|
|
$
|
36 |
|
|
$
|
14,956 |
|
|
State and political subdivisions
|
|
|
9 |
|
|
|
- |
|
|
|
- |
|
|
|
9 |
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
|
220,584 |
|
|
|
275 |
|
|
|
17,258 |
|
|
|
203,601 |
|
|
Corporate bonds
|
|
|
74,974 |
|
|
|
11 |
|
|
|
1,181 |
|
|
|
73,804 |
|
Small Business Administration - guaranteed participation securities
|
|
|
10,906 |
|
|
|
- |
|
|
|
753 |
|
|
|
10,153 |
|
|
Other
|
|
|
690 |
|
|
|
28 |
|
|
|
- |
|
|
|
718 |
|
|
Total Securities Available for Sale
|
|
$
|
322,155 |
|
|
$
|
314 |
|
|
$
|
19,228 |
|
|
$
|
303,241 |
|
|
|
|
December 31, 2025
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
Losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government sponsored enterprises
|
|
$
|
31,939 |
|
|
$
|
18 |
|
|
$
|
185 |
|
|
$
|
31,772 |
|
|
State and political subdivisions
|
|
|
9 |
|
|
|
- |
|
|
|
- |
|
|
|
9 |
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
|
221,611 |
|
|
|
543 |
|
|
|
15,864 |
|
|
|
206,290 |
|
|
Corporate bonds
|
|
|
59,972 |
|
|
|
99 |
|
|
|
139 |
|
|
|
59,932 |
|
Small Business Administration - guaranteed participation securities
|
|
|
12,427 |
|
|
|
- |
|
|
|
717 |
|
|
|
11,710 |
|
|
Other
|
|
|
689 |
|
|
|
16 |
|
|
|
- |
|
|
|
705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Securities Available for Sale
|
|
$
|
326,647 |
|
|
$
|
676 |
|
|
$
|
16,905 |
|
|
$
|
310,418 |
|
|
| Proceeds from Sales and Calls and Maturities of Debt Securities Available For Sale, Gross Realized Gains and Gross Realized Losses |
The proceeds from sales, calls, and maturities of debt securities available for sale, and related gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2026 and 2025 are as follows:
|
|
|
Three months ended June 30,
|
|
|
(dollars in thousands)
|
|
2026
|
|
|
2025
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sales
|
|
$
|
- |
|
|
$
|
- |
|
|
Proceeds from calls/paydowns
|
|
|
11,088 |
|
|
|
10,641 |
|
|
Proceeds from maturities
|
|
|
- |
|
|
|
25,050 |
|
|
Gross realized gains
|
|
|
- |
|
|
|
- |
|
|
Gross realized losses
|
|
|
- |
|
|
|
- |
|
|
|
|
Six months ended June 30,
|
|
|
|
2026
|
|
|
2025
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sales
|
|
$
|
- |
|
|
$
|
- |
|
|
Proceeds from calls/paydowns
|
|
|
28,961 |
|
|
|
24,364 |
|
|
Proceeds from maturities
|
|
|
15,000 |
|
|
|
60,050 |
|
|
Gross realized gains
|
|
|
- |
|
|
|
- |
|
|
Gross realized losses
|
|
|
- |
|
|
|
- |
|
|
| Amortized Cost and Fair Value of Held to Maturity Securities |
The amortized cost and fair value of the held to maturity securities are as follows:
|
|
|
June 30, 2026
|
|
|
(dollars in thousands)
|
|
Amortized
Cost
|
|
|
|
|
|
Gross
Unrecognized
Losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
$
|
3,842 |
|
|
$
|
71 |
|
|
$
|
46 |
|
|
$
|
3,867 |
|
|
Total held to maturity
|
|
$
|
3,842 |
|
|
$
|
71 |
|
|
$
|
46 |
|
|
$
|
3,867 |
|
|
|
|
December 31, 2025
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
$
|
4,339 |
|
|
$
|
90 |
|
|
$
|
40 |
|
|
$
|
4,389 |
|
|
Total held to maturity
|
|
$
|
4,339 |
|
|
$
|
90 |
|
|
$
|
40 |
|
|
$
|
4,389 |
|
|
| Securities Available for Sale [Member] |
|
| Investment Securities [Abstract] |
|
| Debt Securities Based on Securities Contractual Maturity |
The following table categorizes the debt securities included in the available for sale portfolio as of June 30, 2026, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Debt securities not due at a single maturity date are presented separately:
|
|
|
June 30, 2026
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Due in one year or less
|
|
$
|
10,041 |
|
|
$
|
10,037 |
|
|
Due after one year through five years
|
|
|
80,624 |
|
|
|
79,450 |
|
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
|
220,584 |
|
|
|
203,601 |
|
|
Small Business Administration - guaranteed participation securities
|
|
|
10,906 |
|
|
|
10,153 |
|
|
|
|
$
|
322,155 |
|
|
$
|
303,241 |
|
|
| Gross Unrealized Losses on Investment on Debt Securities and Related Fair Values in Unrealized Loss Position |
Gross unrealized losses on debt securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:
|
|
|
June 30, 2026
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|
|
Loss
|
|
|
|
|
|
Loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government sponsored enterprises
|
|
$
|
4,997 |
|
|
$
|
3 |
|
|
$
|
9,959 |
|
|
$
|
33 |
|
|
$
|
14,956 |
|
|
$
|
36 |
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
|
17,368 |
|
|
|
296 |
|
|
|
159,835 |
|
|
|
16,962 |
|
|
|
177,203 |
|
|
|
17,258 |
|
|
Corporate bonds
|
|
|
71,293 |
|
|
|
1,181 |
|
|
|
- |
|
|
|
- |
|
|
|
71,293 |
|
|
|
1,181 |
|
|
Small Business Administration - guaranteed participation securities
|
|
|
- |
|
|
|
- |
|
|
|
10,153 |
|
|
|
753 |
|
|
|
10,153 |
|
|
|
753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
93,658 |
|
|
$
|
1,480 |
|
|
$
|
179,947 |
|
|
$
|
17,748 |
|
|
$
|
273,605 |
|
|
$
|
19,228 |
|
|
|
|
December 31, 2025
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
(dollars in thousands)
|
|
Fair
Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government sponsored enterprises
|
|
$
|
1,998 |
|
|
$
|
2 |
|
|
$
|
24,756 |
|
|
$
|
183 |
|
|
$
|
26,754 |
|
|
$
|
185 |
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
|
- |
|
|
|
- |
|
|
|
178,551 |
|
|
|
15,864 |
|
|
|
178,551 |
|
|
|
15,864 |
|
|
Corporate bonds
|
|
|
34,842 |
|
|
|
139 |
|
|
|
- |
|
|
|
- |
|
|
|
34,842 |
|
|
|
139 |
|
Small Business Administration - guaranteed participation securities
|
|
|
- |
|
|
|
- |
|
|
|
11,710 |
|
|
|
717 |
|
|
|
11,710 |
|
|
|
717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
36,840 |
|
|
$
|
141 |
|
|
$
|
215,017 |
|
|
$
|
16,764 |
|
|
$
|
251,857 |
|
|
$
|
16,905 |
|
|
| Held to Maturity Securities [Member] |
|
| Investment Securities [Abstract] |
|
| Debt Securities Based on Securities Contractual Maturity |
The following table categorizes the debt securities included in the held to maturity portfolio as of June 30, 2026, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Debt securities not due at a single maturity date are presented separately:
|
|
|
June 30, 2026
|
|
|
(dollars in thousands)
|
|
Amortized
|
|
|
Fair
|
|
|
|
|
Cost
|
|
|
Value
|
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
$
|
3,842 |
|
|
$
|
3,867 |
|
|
|
|
$
|
3,842 |
|
|
$
|
3,867 |
|
|
| Gross Unrealized Losses on Investment on Debt Securities and Related Fair Values in Unrealized Loss Position |
Gross unrecognized losses on held to maturity securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:
|
|
|
June 30, 2026
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
Fair
Value
|
|
|
Loss
|
|
|
|
|
|
|
|
|
Fair
Value
|
|
|
|
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
$
|
114 |
|
|
$
|
2 |
|
|
$
|
1,202 |
|
|
$
|
44 |
|
|
$
|
1,316 |
|
|
$
|
46 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
114 |
|
|
$
|
2 |
|
|
$
|
1,202 |
|
|
$
|
44 |
|
|
$
|
1,316 |
|
|
$
|
46 |
|
|
|
|
December 31, 2025
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
Fair
Value
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities and collateralized mortgage obligations - residential
|
|
$
|
123 |
|
|
$
|
- |
|
|
$
|
1,485 |
|
|
$
|
40 |
|
|
$
|
1,608 |
|
|
$
|
40 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
123 |
|
|
$
|
- |
|
|
$
|
1,485 |
|
|
$
|
40 |
|
|
$
|
1,608 |
|
|
$
|
40 |
|
|