v3.26.1
Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Schedule of Investments [Abstract]  
Schedule of Available-for-sale and Held to Maturity Securities

A summary of the Company’s investment securities classified as available-for-sale and held-to-maturity as of June 30, 2026 and December 31, 2025 is as follows:

 

(Dollars in thousands)  As of June 30, 2026 
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
   cost   gains   losses   fair value 
Available-for-sale:                    
U. S. treasury securities  $43,419   $230   $(171)  $43,478 
Municipal obligations, tax exempt   76,435    107    (1,399)   75,143 
Municipal obligations, taxable   100,224    279    (2,785)   97,718 
Agency mortgage-backed securities   130,723    81    (6,335)   124,469 
Total available-for-sale  $350,801   $697   $(10,690)  $340,808 
                     
Held-to-maturity:                    
Other  $3,847   $-   $(297)  $3,550 
Total held-to-maturity  $3,847   $-   $(297)  $3,550 

 

   As of December 31, 2025 
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
   cost   gains   losses   fair value 
Available-for-sale:                
U. S. treasury securities  $52,795   $580   $(192)  $53,183 
Municipal obligations, tax exempt   88,979    149    (1,319)   87,809 
Municipal obligations, taxable   92,105    555    (2,057)   90,603 
Agency mortgage-backed securities   121,780    193    (5,411)   116,562 
Total available-for-sale  $355,659   $1,477   $(8,979)  $348,157 
                     
Held-to-maturity:                    
Other  $3,789   $-   $(312)  $3,477 
Total held-to-maturity  $3,789   $-   $(312)  $3,477 
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value

The following table summarizes available-for-sale securities in an unrealized loss position for which an allowance for credit losses had not been recorded at June 30, 2026 and December 31, 2025 along with the length of time each category of securities had been in a continuous loss position as of such date:

 

       As of June 30, 2026 
(Dollars in thousands)      Less than 12 months   12 months or longer   Total 
   No. of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
   securities   value   losses   value   losses   value   losses 
Available-for-sale:                                   
U.S. treasury securities   12   $1,951   $(3)  $23,569   $(168)  $25,520   $(171)
Municipal obligations, tax exempt   139    24,545    (166)   29,340    (1,233)   53,885    (1,399)
Municipal obligations, taxable   122    40,769    (803)   36,894    (1,982)   77,663    (2,785)
Agency mortgage-backed securities   72    35,498    (548)   74,418    (5,787)   109,916    (6,335)
Total for available-for-sale   345   $102,763   $(1,520)  $164,221   $(9,170)  $266,984   $(10,690)

 

       As of December 31, 2025 
       Less than 12 months   12 months or longer   Total 
   No. of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
   securities   value   losses   value   losses   value   losses 
Available-for-sale:                                   
U.S. treasury securities   12   $-   $-   $32,314   $(192)  $32,314   $(192)
Municipal obligations, tax exempt   129    5,746    (10)   43,697    (1,309)   49,443    (1,319)
Municipal obligations, taxable   88    19,052    (262)   40,711    (1,795)   59,763    (2,057)
Agency mortgage-backed securities   67    16,624    (95)   85,169    (5,316)   101,793    (5,411)
Total for available-for-sale   296   $41,422   $(367)  $201,891   $(8,612)  $243,313   $(8,979)
Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities

 

(Dollars in thousands)  2026   2025 
   Six months ended 
   June 30, 
(Dollars in thousands)  2026   2025 
Balance at January 1,  $91   $91 
Provision for credit losses   -    - 
Balance at June 30,  $91   $91 
Schedule of Investments Classified by Contractual Maturity Date
   Amortized   Estimated 
(Dollars in thousands)  cost   fair value 
Available-for-sale:          
Due in less than one year  $39,598   $39,366 
Due after one year but within five years   159,618    153,116 
Due after five years but within ten years   97,698    95,633 
Due after ten years   53,887    52,693 
Total available-for-sale  $350,801   $340,808 
           
Held-to-maturity:          
Due in less than one year   3,847    3,550 
Total held-to-maturity  $3,847   $3,550 
Schedule of Realized Gain (loss)

Sale proceeds and gross realized gains and losses on sales of available-for-sale securities were as follows for the three and six months ended June 30, 2026 and 2025:

 

   2026   2025   2026   2025 
   Three months ended   Six months ended 
(Dollars in thousands)  June 30,   June 30, 
   2026   2025   2026   2025 
Sales proceeds  $-   $-   $-   $3,394 
                     
Realized gains  $-   $-   $-   $22 
Realized losses   -    -    -    (24)
Net realized losses  $-   $-   $-   $(2)