Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of Amortized Cost and Fair Values of Available For Sale Securities |
The amortized cost and fair values of available for sale securities as of June 30, 2026, and December 31, 2025, were as follows (dollars in thousands):
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|
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|
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|
June 30, 2026 |
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
U.S. Government agencies |
|
$ |
34,496 |
|
|
$ |
- |
|
|
$ |
(3,639 |
) |
|
$ |
30,857 |
|
Mortgage-backed/CMOs |
|
|
132,428 |
|
|
|
2 |
|
|
|
(18,698 |
) |
|
|
113,732 |
|
Corporate bonds |
|
|
5,906 |
|
|
|
52 |
|
|
|
- |
|
|
|
5,958 |
|
Municipal bonds |
|
|
101,235 |
|
|
|
1 |
|
|
|
(17,013 |
) |
|
|
84,223 |
|
Total |
|
$ |
274,065 |
|
|
$ |
55 |
|
|
$ |
(39,350 |
) |
|
$ |
234,770 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
|
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
U.S. Government agencies |
|
$ |
34,707 |
|
|
$ |
- |
|
|
$ |
(3,444 |
) |
|
$ |
31,263 |
|
Mortgage-backed/CMOs |
|
|
141,731 |
|
|
|
11 |
|
|
|
(18,237 |
) |
|
|
123,505 |
|
Corporate bonds |
|
|
7,868 |
|
|
|
32 |
|
|
|
(1 |
) |
|
|
7,899 |
|
Municipal bonds |
|
|
102,506 |
|
|
|
19 |
|
|
|
(17,200 |
) |
|
|
85,325 |
|
Total |
|
$ |
286,812 |
|
|
$ |
62 |
|
|
$ |
(38,882 |
) |
|
$ |
247,992 |
|
|
| Schedule of Unrealized Losses in the Bank's Securities Portfolio |
The following tables summarize all securities with unrealized losses, segregated by length of time in a continuous unrealized loss position, for which no allowance for credit losses was recorded, at June 30, 2026 and December 31, 2025 (dollars in thousands):
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|
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|
|
|
|
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|
|
|
|
|
|
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Less than 12 Months |
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|
12 Months or More |
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|
Total |
|
June 30, 2026 |
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
U.S. Government agencies |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
30,827 |
|
|
$ |
(3,639 |
) |
|
$ |
30,827 |
|
|
$ |
(3,639 |
) |
Mortgage-backed/CMOs |
|
|
3,441 |
|
|
|
(75 |
) |
|
|
109,397 |
|
|
|
(18,623 |
) |
|
|
112,838 |
|
|
|
(18,698 |
) |
Municipal bonds |
|
|
5,001 |
|
|
|
(27 |
) |
|
|
77,711 |
|
|
|
(16,986 |
) |
|
|
82,712 |
|
|
|
(17,013 |
) |
Total |
|
$ |
8,442 |
|
|
$ |
(102 |
) |
|
$ |
217,935 |
|
|
$ |
(39,248 |
) |
|
$ |
226,377 |
|
|
$ |
(39,350 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less than 12 Months |
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|
12 Months or More |
|
|
Total |
|
December 31, 2025 |
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
U.S. Government agencies |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
31,220 |
|
|
$ |
(3,444 |
) |
|
$ |
31,220 |
|
|
$ |
(3,444 |
) |
Mortgage-backed/CMOs |
|
|
- |
|
|
|
- |
|
|
|
122,085 |
|
|
|
(18,237 |
) |
|
|
122,085 |
|
|
|
(18,237 |
) |
Corporate bonds |
|
|
- |
|
|
|
- |
|
|
|
1,996 |
|
|
|
(1 |
) |
|
|
1,996 |
|
|
|
(1 |
) |
Municipal bonds |
|
|
- |
|
|
|
- |
|
|
|
81,422 |
|
|
|
(17,200 |
) |
|
|
81,422 |
|
|
|
(17,200 |
) |
Total |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
236,723 |
|
|
$ |
(38,882 |
) |
|
$ |
236,723 |
|
|
$ |
(38,882 |
) |
|
| Schedule of Amortized Cost and Fair Values of Securities Available For Sale Based upon Contractual Maturities and by Major Investment Categories |
The amortized cost and fair value of AFS debt securities at June 30, 2026 are presented below based upon contractual maturities, by major investment categories (dollars in thousands). Expected maturities may differ from contractual maturities because issuers have the right to call or prepay obligations.
|
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|
|
|
|
|
|
|
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|
Amortized Cost |
|
|
Fair Value |
|
U.S. Government agencies |
|
|
|
|
|
|
One year or less |
|
$ |
649 |
|
|
$ |
630 |
|
After one year to five years |
|
|
25,467 |
|
|
|
23,155 |
|
After five years to ten years |
|
|
8,380 |
|
|
|
7,072 |
|
|
|
$ |
34,496 |
|
|
$ |
30,857 |
|
Mortgage-backed/CMOs |
|
|
|
|
|
|
One year or less |
|
$ |
1,496 |
|
|
$ |
1,482 |
|
After one year to five years |
|
|
1,529 |
|
|
|
1,458 |
|
After five years to ten years |
|
|
12,629 |
|
|
|
11,504 |
|
Ten years or more |
|
|
116,774 |
|
|
|
99,288 |
|
|
|
$ |
132,428 |
|
|
$ |
113,732 |
|
Corporate bonds |
|
|
|
|
|
|
After one year to five years |
|
$ |
5,906 |
|
|
$ |
5,958 |
|
|
|
$ |
5,906 |
|
|
$ |
5,958 |
|
Municipal bonds |
|
|
|
|
|
|
One year or less |
|
$ |
805 |
|
|
$ |
802 |
|
After one year to five years |
|
|
9,316 |
|
|
|
9,049 |
|
After five years to ten years |
|
|
24,974 |
|
|
|
22,873 |
|
Ten years or more |
|
|
66,140 |
|
|
|
51,499 |
|
|
|
$ |
101,235 |
|
|
$ |
84,223 |
|
|
|
|
|
|
|
|
Total AFS Debt Securities |
|
$ |
274,065 |
|
|
$ |
234,770 |
|
|