SECURITIES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| SECURITIES |
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| Schedule of amortized cost and fair value of securities available for sale |
The amortized cost and fair value of securities available for sale at June 30, 2026 and December 31, 2025 are as follows (in thousands): | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | Amortized | | Unrealized | | Unrealized | | | | | Cost | | Gains | | Losses | | Fair Value | June 30, 2026 | | | | | | | | | | | | | U.S. Treasury Securities | | $ | 29,635 | | $ | — | | $ | (50) | | $ | 29,585 | State and political subdivisions | | | 27,904 | | | 32 | | | (395) | | | 27,541 | Mortgage-backed securities (“MBSs”) – residential | | | 51,617 | | | 184 | | | (669) | | | 51,132 | Collateralized mortgage obligations (“CMOs”) | | | 2,875 | | | — | | | (77) | | | 2,798 | Corporate securities | | | 3,991 | | | — | | | (14) | | | 3,977 | Total securities available for sale | | $ | 116,022 | | $ | 216 | | $ | (1,205) | | $ | 115,033 |
| | | | | | | | | | | | | | | | | Gross | | Gross | | | | | Amortized | | Unrealized | | Unrealized | | | | | Cost | | Gains | | Losses | | Fair Value | December 31, 2025 | | | | | | | | | | | | | U.S. Treasury Securities | | $ | 2,955 | | $ | 6 | | $ | — | | $ | 2,961 | State and political subdivisions | | | 12,204 | | | — | | | (185) | | | 12,019 | Mortgage-backed securities (“MBSs”) – residential | | | 45,721 | | | 708 | | | (382) | | | 46,047 | Collateralized mortgage obligations (“CMOs”) | | | 97 | | | — | | | (44) | | | 53 | Corporate securities | | | 5,484 | | | — | | | (2) | | | 5,482 | Total securities available for sale | | $ | 66,461 | | $ | 714 | | $ | (613) | | $ | 66,562 |
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| Schedule of contractual maturity of debt securities available for sale |
As of June 30, 2026, the contractual maturity of debt securities available for sale (MBSs and CMOs are shown separately) at amortized cost and approximate fair value is as follows (in thousands): | | | | | | | | | Amortized | | | | | | Cost | | Fair Value | Within one year | | $ | 33,260 | | $ | 33,203 | After one year to five years | | | 17,443 | | | 17,286 | After five years to ten years | | | 10,490 | | | 10,268 | Over ten years | | | 337 | | | 345 | Total debt securities | | | 61,530 | | | 61,102 | MBSs and CMOs | | | 54,492 | | | 53,931 | Total | | $ | 116,022 | | $ | 115,033 |
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| Schedule of debt securities available for sale in a continuous unrealized loss position |
The following table provides the gross unrealized losses and fair value, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position at June 30, 2026 and December 31, 2025 (in thousands). | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or longer | | Total | | | | | Gross | | | | Gross | | | | | | | | | | Unrealized | | | | | Unrealized | | | | | Unrealized | | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | June 30, 2026 | | | | | | | | | | | | | | | | | | | U.S. Treasury Securities | | $ | 29,585 | | $ | (50) | | $ | — | | $ | — | | $ | 29,585 | | $ | (50) | State and political subdivisions | | | 15,006 | | | (231) | | | 5,956 | | | (164) | | | 20,962 | | | (395) | MBSs | | | 18,729 | | | (149) | | | 15,108 | | | (520) | | | 33,837 | | | (669) | CMOs | | | 2,751 | | | (25) | | | 47 | | | (52) | | | 2,798 | | | (77) | Corporate Securities | | | 2,476 | | | (14) | | | — | | | — | | | 2,476 | | | (14) | | | $ | 68,547 | | $ | (469) | | $ | 21,111 | | $ | (736) | | $ | 89,658 | | $ | (1,205) |
| | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or longer | | Total | | | Estimated | | Unrealized | | Estimated | | Unrealized | | Estimated | | Unrealized | | | Fair Value | | Losses | | Fair Value | | Losses | | Fair Value | | Losses | December 31, 2025 | | | | | | | | | | | | | | | | | | | Treasury | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | State and political subdivisions | | | — | | | — | | | 11,816 | | | (185) | | | 11,816 | | | (185) | MBSs | | | — | | | — | | | 16,133 | | | (382) | | | 16,133 | | | (382) | CMOs | | | — | | | — | | | 53 | | | (44) | | | 53 | | | (44) | Corporate Securities | | | 2,482 | | | (2) | | | — | | | — | | | 2,482 | | | (2) | | | $ | 2,482 | | $ | (2) | | $ | 28,002 | | $ | (611) | | $ | 30,484 | | $ | (613) |
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