The amortized cost and estimated fair value of our AFS securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
June 30, 2026

Municipal bonds	$	6,292	$	9	$	(768)	$	5,533
Agency mortgage-backed securities	2,294		6		(258)		2,042

Total	$	8,586	$	15	$	(1,026)	$	7,575

December 31, 2025

Municipal bonds	$	6,313	$	10	$	(841)	$	5,482
Agency mortgage-backed securities	2,457		10		(250)		2,217

Total	$	8,770	$	20	$	(1,091)	$	7,699

The amortized cost and estimated fair value of our HTM securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
June 30, 2026

Municipal bonds	$	703	$	—	$	(133)	$	570
Agency mortgage-backed securities	1,173		—		(171)		1,002

Total	$	1,876	$	—	$	(304)	$	1,572

December 31, 2025

Municipal bonds	$	703	$	—	$	(147)	$	556
Agency mortgage-backed securities	1,189		—		(167)		1,022

Total	$	1,892	$	—	$	(314)	$	1,578

The amortized cost and estimated fair value of AFS and HTM securities at June 30, 2026, by contractual maturity, are shown below (in thousands). Expected maturities of AFS securities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Investments not due at a single maturity date, consisting of agency mortgage-backed securities, are shown separately.


	June 30, 2026
	Available-for-sale				Held-to-maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	150	$	150	$	—	$	—
Due after one year through five years	305		305		—		—
Due after five years through ten years	1,715		1,646		—		—
Due after ten years	4,122		3,432		703		570
Agency mortgage-backed securities	2,294		2,042		1,173		1,002
Total	$	8,586	$	7,575	$	1,876	$	1,572

Accrued interest receivable on securities totaled $47 thousand at both June 30, 2026 and December 31, 2025, in the accompanying Condensed Consolidated Balance Sheets. Accrued interest receivable is excluded from the allowance for credit losses.

The following table summarizes the aggregate fair value and gross unrealized loss by length of time of those investments for which an allowance for credit losses has not been recorded that have been in a continuous unrealized loss position at the dates indicated (in thousands):


	June 30, 2026
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Available-for-sale securities

Municipal bonds	$	—	$	—	$	3,868	$	(768)	$	3,868	$	(768)
Agency mortgage-backed securities	41		—		1,735		(258)		1,776		(258)

Total available-for-sale securities	$	41	$	—	$	5,603	$	(1,026)	$	5,644	$	(1,026)
Held-to-maturity securities

Municipal bonds	$	—	$	—	$	570	$	(133)	$	570	$	(133)
Agency mortgage-backed securities	—		—		1,002		(171)		1,002		(171)

Total held-to-maturity securities	$	—	$	—	$	1,572	$	(304)	$	1,572	$	(304)


	December 31, 2025
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Available-for-sale securities

Municipal bonds	$	—	$	—	$	3,816	$	(841)	$	3,816	$	(841)
Agency mortgage-backed securities	—		—		1,871		(250)		1,871		(250)

Total	$	—	$	—	$	5,687	$	(1,091)	$	5,687	$	(1,091)
Held-to-maturity securities

Municipal bonds	$	—	$	—	$	556	$	(147)	$	556	$	(147)
Agency mortgage-backed securities	—		—		1,022		(167)		1,022		(167)

Total held-to-maturity securities	$	—	$	—	$	1,578	$	(314)	$	1,578	$	(314)

There was no allowance for credit losses on securities at June 30, 2026 or December 31, 2025. At both June 30, 2026 and December 31, 2025, the total securities portfolio consisted of 11 agency mortgage-backed securities and 11 municipal bonds. There was one security in an unrealized loss position for less than 12 months and 15 securities in an unrealized loss position for

more than 12 months at June 30, 2026 and no securities in an unrealized loss position for less than 12 months and 15 securities in an unrealized loss position for more than 12 months at December 31, 2025. The unrealized losses were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities and not related to the underlying credit of the issuers or the underlying collateral. It is expected that these securities will not be settled at a price less than the amortized cost of each investment. There was no provision for credit losses recognized for investment securities during the three and six months ended June 30, 2026 and 2025, because the declines in fair value were not attributable to credit quality and because we do not intend, and it is not likely that we will be required, to sell these securities before recovery of their amortized cost basis.

At June 30, 2026, the Company held equity securities without readily determinable fair values with a carrying value of $5.0 million, accounted for under the measurement alternative in accordance with ASC 321. During the three and six months ended June 30, 2026, there was no impairment and no observable price changes. The Company held no equity securities at December 31, 2025.