Securities (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Securities [Abstract] |
|
| Available-for-Sale Investment Securities Portfolios |
The following table summarizes the amortized cost and fair value of the available-for-sale investment securities portfolios as of the dates indicated and the corresponding amounts of unrealized gains and losses which were recognized in accumulated other comprehensive loss:
| |
|
Amortized
Cost
|
|
|
Gross
Unrealized
Gains
|
|
|
Gross
Unrealized
Losses
|
|
|
Fair Value
|
|
| |
|
(In thousands)
|
|
|
June 30, 2026
|
|
|
|
|
Federal agency mortgage-backed securities
|
|
$
|
161,575 |
|
|
$
|
180 |
|
|
$
|
(8,023 |
)
|
|
$
|
153,732 |
|
|
Federal agency collateralized mortgage obligations (“CMO”)
|
|
|
99,591 |
|
|
|
294 |
|
|
|
(913 |
)
|
|
|
98,972 |
|
|
Federal agency debt
|
|
|
24,426 |
|
|
|
14 |
|
|
|
(756 |
)
|
|
|
23,684 |
|
|
Municipal bonds
|
|
|
4,749 |
|
|
|
- |
|
|
|
(230 |
)
|
|
|
4,519 |
|
|
U.S. Small Business Administration (“SBA”) pools
|
|
|
8,702 |
|
|
|
3 |
|
|
|
(1,100 |
)
|
|
|
7,605 |
|
|
Asset-backed securities
|
|
|
8,638 |
|
|
|
3 |
|
|
|
(63 |
)
|
|
|
8,578 |
|
|
Corporate bonds
|
|
|
30,000 |
|
|
|
101 |
|
|
|
(161 |
)
|
|
|
29,940 |
|
|
Total available-for-sale securities
|
|
$
|
337,681 |
|
|
$
|
595 |
|
|
$
|
(11,246 |
)
|
|
$
|
327,030 |
|
|
December 31, 2025:
|
|
|
|
|
Federal agency mortgage-backed securities
|
|
$
|
120,372 |
|
|
$
|
1,109 |
|
|
$
|
(7,051 |
)
|
|
$
|
114,430 |
|
|
Federal agency CMOs
|
|
|
69,742 |
|
|
|
367 |
|
|
|
(652 |
)
|
|
|
69,457 |
|
|
Federal agency debt
|
|
|
29,259 |
|
|
|
- |
|
|
|
(846 |
)
|
|
|
28,413 |
|
|
Municipal bonds
|
|
|
4,766 |
|
|
|
- |
|
|
|
(244 |
)
|
|
|
4,522 |
|
|
U. S. Treasuries
|
|
|
4,993 |
|
|
|
- |
|
|
|
(6 |
)
|
|
|
4,987 |
|
|
SBA pools
|
|
|
9,387 |
|
|
|
3 |
|
|
|
(1,115 |
)
|
|
|
8,275 |
|
|
Asset-backed securities
|
|
|
9,352 |
|
|
|
3 |
|
|
|
(86 |
)
|
|
|
9,269 |
|
|
Corporate bonds
|
|
|
17,500 |
|
|
|
57 |
|
|
|
(75 |
)
|
|
|
17,482 |
|
|
Total available-for-sale securities
|
|
$
|
265,371 |
|
|
$
|
1,539 |
|
|
$
|
(10,075 |
)
|
|
$
|
256,835 |
|
|
| Amortized Cost and Fair Value of Investment Securities by Contractual Maturity |
The amortized cost and estimated fair value of all investment securities available-for-sale at June 30, 2026, by contractual maturities, are shown below. Contractual maturities may differ from expected maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
|
|
Amortized
Cost
|
|
|
Gross
Unrealized
Gains
|
|
|
Gross
Unrealized
Losses
|
|
|
Fair Value
|
|
| |
|
(In thousands)
|
|
|
Due in one year or less
|
|
$
|
9,013 |
|
|
$
|
- |
|
|
$
|
(164 |
)
|
|
$
|
8,849 |
|
|
Due after one year through five years
|
|
|
21,728 |
|
|
|
2 |
|
|
|
(867 |
)
|
|
|
20,863 |
|
|
Due after five years through ten years
|
|
|
43,787 |
|
|
|
95 |
|
|
|
(997 |
)
|
|
|
42,885 |
|
|
Due after ten years
|
|
|
263,153 |
|
|
|
498 |
|
|
|
(9,218 |
)
|
|
|
254,433 |
|
| |
|
$
|
337,681 |
|
|
$
|
595 |
|
|
$
|
(11,246 |
)
|
|
$
|
327,030 |
|
|
| Securities in Continuous Unrealized Loss Position |
The table below indicates the length of time individual securities have been in a continuous unrealized loss position:
| |
|
Less than 12 Months
|
|
|
12 Months or Longer
|
|
|
Total
|
|
| |
|
Fair Value
|
|
|
Unrealized
Losses
|
|
|
Fair Value
|
|
|
Unrealized
Losses
|
|
|
Fair Value
|
|
|
Unrealized
Losses
|
|
|
June 30, 2026
|
|
(In thousands)
|
|
|
Federal agency mortgage-backed securities
|
|
$
|
84,940 |
|
|
$
|
(891 |
)
|
|
$
|
44,117 |
|
|
$
|
(7,132 |
)
|
|
$
|
129,057 |
|
|
$
|
(8,023 |
)
|
|
Federal agency CMOs
|
|
|
37,525 |
|
|
|
(161 |
)
|
|
|
12,385 |
|
|
|
(752 |
)
|
|
|
49,910 |
|
|
|
(913 |
)
|
|
Federal agency debt
|
|
|
2,509 |
|
|
|
(2 |
)
|
|
|
18,121 |
|
|
|
(754 |
)
|
|
|
20,630 |
|
|
|
(756 |
)
|
|
Municipal bonds
|
|
|
- |
|
|
|
- |
|
|
|
4,519 |
|
|
|
(230 |
)
|
|
|
4,519 |
|
|
|
(230 |
)
|
|
SBA pools
|
|
|
180 |
|
|
|
(1 |
)
|
|
|
7,001 |
|
|
|
(1,099 |
)
|
|
|
7,181 |
|
|
|
(1,100 |
)
|
|
Asset-backed securities
|
|
|
6,702 |
|
|
|
(63 |
)
|
|
|
- |
|
|
|
- |
|
|
|
6,702 |
|
|
|
(63 |
)
|
|
Corporate bonds
|
|
|
13,339 |
|
|
|
(161 |
)
|
|
|
- |
|
|
|
- |
|
|
|
13,339 |
|
|
|
(161 |
)
|
|
Total unrealized loss position investment securities
|
|
$
|
145,195 |
|
|
$
|
(1,279 |
)
|
|
$
|
86,143 |
|
|
$
|
(9,967 |
)
|
|
$
|
231,338 |
|
|
$
|
(11,246 |
)
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025
|
|
|
|
|
Federal agency mortgage-backed securities
|
|
$
|
7,197 |
|
|
$
|
(26 |
)
|
|
$
|
47,717 |
|
|
$
|
(7,025 |
)
|
|
$
|
54,914 |
|
|
$
|
(7,051 |
)
|
|
Federal agency CMOs
|
|
|
1,488 |
|
|
|
(2 |
)
|
|
|
14,804 |
|
|
|
(650 |
)
|
|
|
16,292 |
|
|
|
(652 |
)
|
|
Federal agency debt
|
|
|
2,512 |
|
|
|
(3 |
)
|
|
|
25,901 |
|
|
|
(843 |
)
|
|
|
28,413 |
|
|
|
(846 |
)
|
|
Municipal bonds
|
|
|
- |
|
|
|
- |
|
|
|
4,522 |
|
|
|
(244 |
)
|
|
|
4,522 |
|
|
|
(244 |
)
|
|
U. S. Treasuries
|
|
|
- |
|
|
|
- |
|
|
|
4,987 |
|
|
|
(6 |
)
|
|
|
4,987 |
|
|
|
(6 |
)
|
|
SBA pools
|
|
|
185 |
|
|
|
(1 |
)
|
|
|
7,621 |
|
|
|
(1,114 |
)
|
|
|
7,806 |
|
|
|
(1,115 |
)
|
|
Asset-backed securities
|
|
|
7,208 |
|
|
|
(86 |
)
|
|
|
- |
|
|
|
- |
|
|
|
7,208 |
|
|
|
(86 |
)
|
|
Corporate bonds
|
|
|
7,425 |
|
|
|
(75 |
)
|
|
|
- |
|
|
|
- |
|
|
|
7,425 |
|
|
|
(75 |
)
|
|
Total unrealized loss position investment securities
|
|
$
|
26,015 |
|
|
$
|
(193 |
)
|
|
$
|
105,552 |
|
|
$
|
(9,882 |
)
|
|
$
|
131,567 |
|
|
$
|
(10,075 |
)
|
|