Investment Securities (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of Amortized Cost and Estimated Fair Value of Investment Securities |
The amortized cost and estimated fair value of investment securities are summarized as follows:
|
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|
June 30, 2026 |
|
(In thousands) |
|
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Estimated Fair Value |
|
Available-for-Sale Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
Debt investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
$ |
63,014 |
|
|
$ |
179 |
|
|
$ |
(2,610 |
) |
|
$ |
60,583 |
|
State and political subdivisions |
|
|
35,132 |
|
|
|
199 |
|
|
|
(1,729 |
) |
|
|
33,602 |
|
Corporate |
|
|
9,301 |
|
|
|
166 |
|
|
|
(89 |
) |
|
|
9,378 |
|
Asset backed securities |
|
|
11,933 |
|
|
|
1 |
|
|
|
(51 |
) |
|
|
11,883 |
|
Residential mortgage-backed - U.S. agency |
|
|
115,696 |
|
|
|
232 |
|
|
|
(1,991 |
) |
|
|
113,937 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
31,215 |
|
|
|
35 |
|
|
|
(876 |
) |
|
|
30,374 |
|
Collateralized mortgage obligations - Private label |
|
|
107,725 |
|
|
|
224 |
|
|
|
(1,765 |
) |
|
|
106,184 |
|
Total |
|
|
374,016 |
|
|
|
1,036 |
|
|
|
(9,111 |
) |
|
|
365,941 |
|
Equity investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Common stock - financial services industry |
|
|
206 |
|
|
|
- |
|
|
|
- |
|
|
|
206 |
|
Total |
|
|
206 |
|
|
|
- |
|
|
|
- |
|
|
|
206 |
|
Total available-for-sale |
|
$ |
374,222 |
|
|
$ |
1,036 |
|
|
$ |
(9,111 |
) |
|
$ |
366,147 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
Debt investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
$ |
3,535 |
|
|
$ |
- |
|
|
$ |
(211 |
) |
|
$ |
3,324 |
|
State and political subdivisions |
|
|
14,496 |
|
|
|
14 |
|
|
|
(1,237 |
) |
|
|
13,273 |
|
Corporate |
|
|
21,767 |
|
|
|
5 |
|
|
|
(1,273 |
) |
|
|
20,499 |
|
Asset backed securities |
|
|
9,107 |
|
|
|
- |
|
|
|
(936 |
) |
|
|
8,171 |
|
Residential mortgage-backed - U.S. agency |
|
|
7,489 |
|
|
|
37 |
|
|
|
(391 |
) |
|
|
7,135 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
9,734 |
|
|
|
1 |
|
|
|
(998 |
) |
|
|
8,737 |
|
Collateralized mortgage obligations - Private label |
|
|
45,397 |
|
|
|
259 |
|
|
|
(784 |
) |
|
|
44,872 |
|
Total |
|
|
111,525 |
|
|
|
316 |
|
|
|
(5,830 |
) |
|
|
106,011 |
|
Less: Allowance for credit losses |
|
|
154 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Total held-to-maturity, net of allowance for credit losses |
|
$ |
111,371 |
|
|
$ |
316 |
|
|
$ |
(5,830 |
) |
|
$ |
106,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
(In thousands) |
|
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Estimated Fair Value |
|
Available-for-Sale Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
Debt investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
$ |
67,067 |
|
|
$ |
408 |
|
|
$ |
(2,460 |
) |
|
$ |
65,015 |
|
State and political subdivisions |
|
|
35,580 |
|
|
|
94 |
|
|
|
(1,756 |
) |
|
|
33,918 |
|
Corporate |
|
|
7,737 |
|
|
|
286 |
|
|
|
(81 |
) |
|
|
7,942 |
|
Asset backed securities |
|
|
15,705 |
|
|
|
19 |
|
|
|
(112 |
) |
|
|
15,612 |
|
Residential mortgage-backed - U.S. agency |
|
|
49,632 |
|
|
|
437 |
|
|
|
(1,054 |
) |
|
|
49,015 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
18,882 |
|
|
|
183 |
|
|
|
(682 |
) |
|
|
18,383 |
|
Collateralized mortgage obligations - Private label |
|
|
87,832 |
|
|
|
513 |
|
|
|
(1,621 |
) |
|
|
86,724 |
|
Total |
|
|
282,435 |
|
|
|
1,940 |
|
|
|
(7,766 |
) |
|
|
276,609 |
|
Equity investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Common stock - financial services industry |
|
|
206 |
|
|
|
- |
|
|
|
- |
|
|
|
206 |
|
Total |
|
|
206 |
|
|
|
- |
|
|
|
- |
|
|
|
206 |
|
Total available-for-sale |
|
$ |
282,641 |
|
|
$ |
1,940 |
|
|
$ |
(7,766 |
) |
|
$ |
276,815 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held-to-Maturity Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
Debt investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
$ |
3,559 |
|
|
$ |
- |
|
|
$ |
(162 |
) |
|
$ |
3,397 |
|
State and political subdivisions |
|
|
14,594 |
|
|
|
22 |
|
|
|
(1,241 |
) |
|
|
13,375 |
|
Corporate |
|
|
25,530 |
|
|
|
14 |
|
|
|
(1,345 |
) |
|
|
24,199 |
|
Asset backed securities |
|
|
15,064 |
|
|
|
16 |
|
|
|
(874 |
) |
|
|
14,206 |
|
Residential mortgage-backed - U.S. agency |
|
|
7,640 |
|
|
|
42 |
|
|
|
(371 |
) |
|
|
7,311 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
10,035 |
|
|
|
2 |
|
|
|
(913 |
) |
|
|
9,124 |
|
Collateralized mortgage obligations - Private label |
|
|
54,078 |
|
|
|
294 |
|
|
|
(786 |
) |
|
|
53,586 |
|
Total |
|
|
130,500 |
|
|
|
390 |
|
|
|
(5,692 |
) |
|
|
125,198 |
|
Less: Allowance for credit losses |
|
|
176 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Total held-to-maturity, net of allowance for credit losses |
|
$ |
130,324 |
|
|
$ |
390 |
|
|
$ |
(5,692 |
) |
|
$ |
125,198 |
|
T
|
| Schedule of Amortized Cost and Estimated Fair Value of Debt Investments by Contractual Maturity |
he amortized cost and estimated fair value of debt securities at June 30, 2026 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Amounts disclosed are gross values and do not include ACL.
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available-for-Sale |
|
|
Held-to-Maturity |
|
(In thousands) |
|
Amortized Cost |
|
|
Estimated Fair Value |
|
|
Amortized Cost |
|
|
Estimated Fair Value |
|
Due in one year or less |
|
$ |
4,204 |
|
|
$ |
4,365 |
|
|
$ |
1,673 |
|
|
$ |
1,661 |
|
Due after one year through five years |
|
|
31,840 |
|
|
|
29,241 |
|
|
|
20,935 |
|
|
|
20,443 |
|
Due after five years through ten years |
|
|
12,619 |
|
|
|
12,076 |
|
|
|
11,921 |
|
|
|
10,875 |
|
Due after ten years |
|
|
70,717 |
|
|
|
69,764 |
|
|
|
14,376 |
|
|
|
12,288 |
|
Sub-total |
|
|
119,380 |
|
|
|
115,446 |
|
|
|
48,905 |
|
|
|
45,267 |
|
Residential mortgage-backed - U.S. agency |
|
|
115,696 |
|
|
|
113,937 |
|
|
|
7,489 |
|
|
|
7,135 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
31,215 |
|
|
|
30,374 |
|
|
|
9,734 |
|
|
|
8,737 |
|
Collateralized mortgage obligations - Private label |
|
|
107,725 |
|
|
|
106,184 |
|
|
|
45,397 |
|
|
|
44,872 |
|
Totals |
|
$ |
374,016 |
|
|
$ |
365,941 |
|
|
$ |
111,525 |
|
|
$ |
106,011 |
|
|
| Schedule of Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category and Length of Time that Individual Securities have Continuous Unrealized Loss Position |
The Company’s investment securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:
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|
|
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|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
Less than Twelve Months |
|
|
Twelve Months or More |
|
|
Total |
|
(Dollars in thousands) |
|
Number of Individual Securities |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Number of Individual Securities |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Number of Individual Securities |
|
|
Unrealized Losses |
|
|
Fair Value |
|
Available-for-Sale Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
|
2 |
|
|
$ |
(81 |
) |
|
$ |
16,211 |
|
|
|
7 |
|
|
$ |
(2,529 |
) |
|
$ |
25,375 |
|
|
|
9 |
|
|
$ |
(2,610 |
) |
|
$ |
41,586 |
|
State and political subdivisions |
|
|
1 |
|
|
|
(1 |
) |
|
|
95 |
|
|
|
20 |
|
|
|
(1,728 |
) |
|
|
25,584 |
|
|
|
21 |
|
|
|
(1,729 |
) |
|
|
25,679 |
|
Corporate |
|
|
2 |
|
|
|
(4 |
) |
|
|
1,481 |
|
|
|
1 |
|
|
|
(85 |
) |
|
|
673 |
|
|
|
3 |
|
|
|
(89 |
) |
|
|
2,154 |
|
Asset backed securities |
|
|
5 |
|
|
|
(18 |
) |
|
|
8,193 |
|
|
|
4 |
|
|
|
(33 |
) |
|
|
2,452 |
|
|
|
9 |
|
|
|
(51 |
) |
|
|
10,645 |
|
Residential mortgage-backed - U.S. agency |
|
|
32 |
|
|
|
(736 |
) |
|
|
76,982 |
|
|
|
12 |
|
|
|
(1,255 |
) |
|
|
15,079 |
|
|
|
44 |
|
|
|
(1,991 |
) |
|
|
92,061 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
7 |
|
|
|
(184 |
) |
|
|
17,053 |
|
|
|
12 |
|
|
|
(692 |
) |
|
|
7,122 |
|
|
|
19 |
|
|
|
(876 |
) |
|
|
24,175 |
|
Collateralized mortgage obligations - Private label |
|
|
25 |
|
|
|
(250 |
) |
|
|
44,141 |
|
|
|
19 |
|
|
|
(1,515 |
) |
|
|
23,987 |
|
|
|
44 |
|
|
|
(1,765 |
) |
|
|
68,128 |
|
Totals |
|
|
74 |
|
|
$ |
(1,274 |
) |
|
$ |
164,156 |
|
|
|
75 |
|
|
$ |
(7,837 |
) |
|
$ |
100,272 |
|
|
|
149 |
|
|
$ |
(9,111 |
) |
|
$ |
264,428 |
|
Held-to-Maturity Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
2 |
|
|
$ |
(211 |
) |
|
$ |
3,324 |
|
|
|
2 |
|
|
$ |
(211 |
) |
|
$ |
3,324 |
|
State and political subdivisions |
|
|
2 |
|
|
|
(1 |
) |
|
|
296 |
|
|
|
12 |
|
|
|
(1,236 |
) |
|
|
11,215 |
|
|
|
14 |
|
|
|
(1,237 |
) |
|
|
11,511 |
|
Corporate |
|
|
1 |
|
|
|
(1 |
) |
|
|
991 |
|
|
|
14 |
|
|
|
(1,272 |
) |
|
|
12,786 |
|
|
|
15 |
|
|
|
(1,273 |
) |
|
|
13,777 |
|
Asset backed securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5 |
|
|
|
(936 |
) |
|
|
4,775 |
|
|
|
5 |
|
|
|
(936 |
) |
|
|
4,775 |
|
Residential mortgage-backed - U.S. agency |
|
|
1 |
|
|
|
(35 |
) |
|
|
2,834 |
|
|
|
5 |
|
|
|
(356 |
) |
|
|
3,209 |
|
|
|
6 |
|
|
|
(391 |
) |
|
|
6,043 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
8 |
|
|
|
(998 |
) |
|
|
8,471 |
|
|
|
8 |
|
|
|
(998 |
) |
|
|
8,471 |
|
Collateralized mortgage obligations - Private label |
|
|
4 |
|
|
|
(25 |
) |
|
|
5,592 |
|
|
|
14 |
|
|
|
(759 |
) |
|
|
19,034 |
|
|
|
18 |
|
|
|
(784 |
) |
|
|
24,626 |
|
Totals |
|
|
8 |
|
|
$ |
(62 |
) |
|
$ |
9,713 |
|
|
|
60 |
|
|
$ |
(5,768 |
) |
|
$ |
62,814 |
|
|
|
68 |
|
|
$ |
(5,830 |
) |
|
$ |
72,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Less than Twelve Months |
|
|
Twelve Months or More |
|
|
Total |
|
(Dollars in thousands) |
|
Number of Individual Securities |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Number of Individual Securities |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Number of Individual Securities |
|
|
Unrealized Losses |
|
|
Fair Value |
|
Available-for-Sale Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
|
1 |
|
|
$ |
(63 |
) |
|
$ |
17,336 |
|
|
|
8 |
|
|
$ |
(2,397 |
) |
|
$ |
26,573 |
|
|
|
9 |
|
|
$ |
(2,460 |
) |
|
$ |
43,909 |
|
State and political subdivisions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
21 |
|
|
|
(1,756 |
) |
|
|
27,811 |
|
|
|
21 |
|
|
|
(1,756 |
) |
|
|
27,811 |
|
Corporate |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1 |
|
|
|
(81 |
) |
|
|
676 |
|
|
|
1 |
|
|
|
(81 |
) |
|
|
676 |
|
Asset backed securities |
|
|
5 |
|
|
|
(28 |
) |
|
|
8,009 |
|
|
|
6 |
|
|
|
(84 |
) |
|
|
5,199 |
|
|
|
11 |
|
|
|
(112 |
) |
|
|
13,208 |
|
Residential mortgage-backed - U.S. agency |
|
|
1 |
|
|
|
(43 |
) |
|
|
1,594 |
|
|
|
15 |
|
|
|
(1,011 |
) |
|
|
19,946 |
|
|
|
16 |
|
|
|
(1,054 |
) |
|
|
21,540 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
1 |
|
|
|
(6 |
) |
|
|
1,653 |
|
|
|
11 |
|
|
|
(676 |
) |
|
|
6,156 |
|
|
|
12 |
|
|
|
(682 |
) |
|
|
7,809 |
|
Collateralized mortgage obligations - Private label |
|
|
15 |
|
|
|
(72 |
) |
|
|
24,918 |
|
|
|
17 |
|
|
|
(1,549 |
) |
|
|
18,869 |
|
|
|
32 |
|
|
|
(1,621 |
) |
|
|
43,787 |
|
Totals |
|
|
23 |
|
|
$ |
(212 |
) |
|
$ |
53,510 |
|
|
|
79 |
|
|
$ |
(7,554 |
) |
|
$ |
105,230 |
|
|
|
102 |
|
|
$ |
(7,766 |
) |
|
$ |
158,740 |
|
Held-to-Maturity Portfolio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury, agencies and GSEs |
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
|
2 |
|
|
$ |
(162 |
) |
|
$ |
3,397 |
|
|
|
2 |
|
|
$ |
(162 |
) |
|
$ |
3,397 |
|
State and political subdivisions |
|
|
2 |
|
|
|
(1 |
) |
|
|
296 |
|
|
|
12 |
|
|
|
(1,240 |
) |
|
|
11,304 |
|
|
|
14 |
|
|
|
(1,241 |
) |
|
|
11,600 |
|
Corporate |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
18 |
|
|
|
(1,345 |
) |
|
|
15,475 |
|
|
|
18 |
|
|
|
(1,345 |
) |
|
|
15,475 |
|
Asset backed securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
6 |
|
|
|
(874 |
) |
|
|
6,637 |
|
|
|
6 |
|
|
|
(874 |
) |
|
|
6,637 |
|
Residential mortgage-backed - U.S. agency |
|
|
1 |
|
|
|
(20 |
) |
|
|
2,868 |
|
|
|
5 |
|
|
|
(351 |
) |
|
|
3,296 |
|
|
|
6 |
|
|
|
(371 |
) |
|
|
6,164 |
|
Collateralized mortgage obligations - U.S. agency |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
8 |
|
|
|
(913 |
) |
|
|
8,776 |
|
|
|
8 |
|
|
|
(913 |
) |
|
|
8,776 |
|
Collateralized mortgage obligations - Private label |
|
|
3 |
|
|
|
(23 |
) |
|
|
5,505 |
|
|
|
15 |
|
|
|
(763 |
) |
|
|
20,011 |
|
|
|
18 |
|
|
|
(786 |
) |
|
|
25,516 |
|
Totals |
|
|
6 |
|
|
$ |
(44 |
) |
|
$ |
8,669 |
|
|
|
66 |
|
|
$ |
(5,648 |
) |
|
$ |
68,896 |
|
|
|
72 |
|
|
$ |
(5,692 |
) |
|
$ |
77,565 |
|
|
| Schedule of Allowance for Credit Losses on Investment Securities Classified as Held-to-maturity |
The following tables represent a rollforward of the ACL on investment securities classified as HTM for the three months ended June 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Government Issued and Government Sponsored Enterprise Securities |
|
|
Mortgage and Asset-backed Securities |
|
|
Securities Issued By State and Political Subdivisions |
|
|
Corporate Securities |
|
|
Total |
|
Balance, March 31, 2026 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
$ |
175 |
|
|
$ |
176 |
|
(Benefit from) provision for credit losses |
|
|
- |
|
|
|
40 |
|
|
|
- |
|
|
|
(62 |
) |
|
|
(22 |
) |
Allowance on purchased financial assets with credit deterioration |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Charge-offs of securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Recoveries |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Balance, June 30, 2026 |
|
$ |
- |
|
|
$ |
40 |
|
|
$ |
1 |
|
|
$ |
113 |
|
|
$ |
154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Government Issued and Government Sponsored Enterprise Securities |
|
|
Mortgage and Asset-backed Securities |
|
|
Securities Issued By State and Political Subdivisions |
|
|
Corporate Securities |
|
|
Total |
|
Balance, March 31, 2025 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
$ |
256 |
|
|
$ |
257 |
|
Provision for credit losses |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5 |
|
|
|
5 |
|
Allowance on purchased financial assets with credit deterioration |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Charge-offs of securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Recoveries |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Balance, June 30, 2025 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
$ |
261 |
|
|
$ |
262 |
|
The following tables represent a rollforward of the ACL on investment securities classified as HTM for the six months ended June 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Government Issued and Government Sponsored Enterprise Securities |
|
|
Mortgage and Asset-backed Securities |
|
|
Securities Issued By State and Political Subdivisions |
|
|
Corporate Securities |
|
|
Total |
|
Balance, December 31, 2025 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
$ |
175 |
|
|
$ |
176 |
|
(Benefit from) provision for credit losses |
|
|
- |
|
|
|
40 |
|
|
|
- |
|
|
|
(62 |
) |
|
|
(22 |
) |
Allowance on purchased financial assets with credit deterioration |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Charge-offs of securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Recoveries |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Balance, June 30, 2026 |
|
$ |
- |
|
|
$ |
40 |
|
|
$ |
1 |
|
|
$ |
113 |
|
|
$ |
154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Government Issued and Government Sponsored Enterprise Securities |
|
|
Mortgage and Asset-backed Securities |
|
|
Securities Issued By State and Political Subdivisions |
|
|
Corporate Securities |
|
|
Total |
|
Balance, December 31, 2024 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
$ |
256 |
|
|
$ |
257 |
|
Provision for credit losses |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5 |
|
|
|
5 |
|
Allowance on purchased financial assets with credit deterioration |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Charge-offs of securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Recoveries |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Balance, June 30, 2025 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1 |
|
|
$ |
261 |
|
|
$ |
262 |
|
|
| Schedule of Amortized Cost of Debt Securities Categorized as Held-to-maturity Aggregated by Credit Quality |
The following tables summarize the amortized cost of debt securities categorized as HTM at June 30, 2026 and December 31, 2025, aggregated by credit quality indicators:
|
|
|
|
|
|
|
|
|
(In thousands) |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
AAA or equivalent |
|
$ |
26,628 |
|
|
$ |
36,521 |
|
AA or equivalent, including securities issued by the United States Government or Government Sponsored Enterprises |
|
|
40,493 |
|
|
|
32,443 |
|
A or equivalent |
|
|
2,564 |
|
|
|
9,204 |
|
BBB or equivalent |
|
|
5,217 |
|
|
|
7,488 |
|
BB or equivalent |
|
|
1,492 |
|
|
|
1,490 |
|
Unrated |
|
|
35,131 |
|
|
|
43,354 |
|
Total |
|
$ |
111,525 |
|
|
$ |
130,500 |
|
|
| Schedule of Gross Realized Gains (Losses) on Sale and Redemptions of Securities |
Gross realized losses on sales and redemptions of AFS and HTM securities for the indicated periods are detailed below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
(In thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Realized gains on investments |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
Realized losses on investments |
|
|
- |
|
|
|
- |
|
|
|
(5 |
) |
|
|
(8 |
) |
Total net realized losses |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(5 |
) |
|
$ |
(8 |
) |
|