SECURITIES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| SECURITIES [Abstract] |
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| Amortized Cost and Fair Value of Securities Available-for-sale |
The following table summarizes the amortized cost and fair value of securities AFS and securities HTM at June 30, 2026 and December 31, 2025 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses:
| | | | | | | | | | | | | | | | | Securities Available for Sale | | Amortized | | | | Gross Unrealized | | | | Gross Unrealized | | | | Estimated | | | | | Cost | | | | Gains | | | | Losses | | | | Fair Value | | | June 30, 2026 | | | | | | | | | | | | | | | | | U.S. Government securities | $ | 83,959 | | | $ | 112 | | | $ | (232 | ) | | $ | 83,839 | | | U.S. Government sponsored entity securities | | 5,336 | | | | - | | | | (228 | ) | | | 5,108 | | | Agency mortgage-backed securities, residential | | 165,690 | | | | 146 | | | | (4,547 | ) | | | 161,289 | | | Total securities | $ | 254,985 | | | $ | 258 | | | $ | (5,007 | ) | | $ | 250,236 | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | | | | | | U.S. Government securities | $ | 86,442 | | | $ | 575 | | | $ | (238 | ) | | $ | 86,779 | | | U.S. Government sponsored entity securities | | 5,336 | | | | - | | | | (212 | ) | | | 5,124 | | | Agency mortgage-backed securities, residential | | 164,525 | | | | 768 | | | | (3,290 | ) | | | 162,003 | | | Total securities | $ | 256,303 | | | $ | 1,343 | | | $ | (3,740 | ) | | $ | 253,906 | |
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| Amortized Cost and Fair Value of Securities Held-to-maturity |
| | | | | | | | | | | | | | | | | | | | | Securities Held to Maturity | | Amortized | | | | Gross Unrecognized | | | | Gross Unrecognized | | | | Estimated | | | | Allowance for | | | | | Cost | | | | Gains | | | | Losses | | | | Fair Value | | | | Credit Losses | | | June 30, 2026 | | | | | | | | | | | | | | | | | | | | | Obligations of states and political subdivisions | $ | 5,405 | | | $ | - | | | $ | (371 | ) | | $ | 5,034 | | | $ | (1 | ) | | Total securities | $ | 5,405 | | | $ | - | | | $ | (371 | ) | | $ | 5,034 | | | $ | (1 | ) | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | | | | | | | | | | Obligations of states and political subdivisions | $ | 5,453 | | | $ | - | | | $ | (379 | ) | | $ | 5,074 | | | $ | (1 | ) | | Total securities | $ | 5,453 | | | $ | - | | | $ | (379 | ) | | $ | 5,074 | | | $ | (1 | ) |
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| Amortized Cost and Fair Value of Securities by Contractual Maturity |
The amortized cost and estimated fair value of debt securities at June 30, 2026, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities. Securities not due at a single maturity are shown separately.
| | | | | | | | | | | | | | | | | | Available for Sale | | Held to Maturity | | | | Amortized | | | | Estimated | | | | Amortized | | | | Estimated | | | Debt Securities: | | Cost | | | | Fair Value | | | | Cost | | | | Fair Value | | | | | | | | | | | | | | | | | | | | Due in one year or less | $ | 54,578 | | | $ | 54,378 | | | $ | 631 | | | $ | 625 | | | Due in over one to five years | | 34,717 | | | | 34,569 | | | | 2,620 | | | | 2,503 | | | Due in over five to ten years | | - | | | | - | | | | 325 | | | | 272 | | | Due after ten years | | - | | | | - | | | | 1,829 | | | | 1,634 | | | Agency mortgage-backed securities, residential | | 165,690 | | | | 161,289 | | | | - | | | | - | | | Total debt securities | $ | 254,985 | | | $ | 250,236 | | | $ | 5,405 | | | $ | 5,034 | |
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| Securities with Unrealized Losses in Continuous Unrealized Loss Position |
The following table summarizes debt securities AFS in an unrealized loss position for which an ACL losses has not been recorded at June 30, 2026 and December 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position:
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | Less Than 12 Months | | 12 Months or More | | Total | | | | | | | | Unrealized | | | | | | | | Unrealized | | | | | | | | Unrealized | | | | | Fair Value | | | | Loss | | | | Fair Value | | | | Loss | | | | Fair Value | | | | Loss | | | Securities Available for Sale | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Government securities | $ | 54,457 | | | $ | (123 | ) | | $ | 11,898 | | | $ | (109 | ) | | $ | 66,355 | | | $ | (232 | ) | | U.S. Government sponsored entity securities | | - | | | | - | | | | 5,108 | | | | (228 | ) | | | 5,108 | | | | (228 | ) | | Agency mortgage-backed securities, residential | | 87,311 | | | | (1,294 | ) | | | 41,059 | | | | (3,253 | ) | | | 128,370 | | | | (4,547 | ) | | Total available for sale | $ | 141,768 | | | $ | (1,417 | ) | | $ | 58,065 | | | $ | (3,590 | ) | | $ | 199,833 | | | $ | (5,007 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | Less Than 12 Months | | 12 Months or More | | Total | | | | | | | | Unrealized | | | | | | | | Unrealized | | | | | | | | Unrealized | | | | | Fair Value | | | | Loss | | | | Fair Value | | | | Loss | | | | Fair Value | | | | Loss | | | Securities Available for Sale | | | | | | | | | | | | | | | | | | | | | | | | | U.S. Government securities | $ | - | | | $ | - | | | $ | 16,755 | | | $ | (238 | ) | | $ | 16,755 | | | $ | (238 | ) | | U.S. Government sponsored entity securities | | - | | | | - | | | | 5,124 | | | | (212 | ) | | | 5,124 | | | | (212 | ) | | Agency mortgage-backed securities, residential | | 35,475 | | | | (154 | ) | | | 46,121 | | | | (3,136 | ) | | | 81,596 | | | | (3,290 | ) | | Total available for sale | $ | 35,475 | | | $ | (154 | ) | | $ | 68,000 | | | $ | (3,586 | ) | | $ | 103,475 | | | $ | (3,740 | ) |
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| Allowance for Credit Losses for Held to Maturity Debt Securities |
The following table presents the activity in the ACL for HTM debt securities:
| | | | | | | | | | | | | Six months ended | | | | Six months ended | | | Held to Maturity Debt Securities | | | June 30, 2026 | | | | June 30, 2025 | | | Allowance for credit losses: | | | | | | | | | | Beginning balance | | $ | 1 | | | $ | 1 | | | Provision for (recovery of) credit loss expense | | | - | | | | - | | | Allowance for credit losses ending balance | | $ | 1 | | | $ | 1 | |
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