v3.26.1
Securities Available for Sale (Tables)
 6 Months Ended
Jun. 30, 2026
Securities Available for Sale [Abstract]  
Schedule of Amortized Cost, Gross Unrealized Gains and Losses, Fair Value and Allowance for Credit Losses of Investment Securities

The amortized cost, gross unrealized gains and losses, approximate fair value, and allowance for credit losses of investment securities held at June 30, 2026 and December 31, 2025, are as follows:  

 

        Gross   Gross   Allowance    
    Amortized   Unrealized   Unrealized   for Credit   Fair
    Cost   Gains   Losses   Losses   Value
    $   $   $   $   $
June 30, 2026                                        
U.S. Treasuries     14,940       —       (803 )     —       14,137  
U.S. government agencies     16,400       —       (439 )     —       15,961  
U.S. agency mortgage-backed securities     33,408       76       (1,803 )     —       31,681  
U.S. agency collateralized mortgage obligations     102,023       —       (2,547 )     —       99,476  
Non-agency MBS/CMO     136,940       153       (3,128 )     —       133,965  
Asset-backed securities     47,982       52       (396 )     —       47,638  
Corporate bonds     44,963       21       (1,744 )     —       43,240  
Obligations of states and political subdivisions     189,923       —       (17,344 )     —       172,579  
Total securities available for sale     586,579       302       (28,204 )     —       558,677  
                                         
December 31, 2025                                        
U.S. Treasuries     14,927       —       (764 )     —       14,163  
U.S. government agencies     16,400       —       (578 )     —       15,822  
U.S. agency mortgage-backed securities     33,286       73       (1,746 )     —       31,613  
U.S. agency collateralized mortgage obligations     107,592       433       (1,633 )     —       106,392  
Non-agency MBS/CMO     144,887       536       (1,912 )     —       143,511  
Asset-backed securities     51,306       52       (396 )     —       50,962  
Corporate bonds     47,365       15       (2,245 )     —       45,135  
Obligations of states and political subdivisions     191,430       —       (19,560 )     —       171,870  
Total securities available for sale     607,193       1,109       (28,834 )     —       579,468  
Schedule of Contractual Maturity of Debt Securities

The amortized cost and fair value of debt securities available for sale at June 30, 2026, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities due to certain call or prepayment provisions (in thousands).

 

    Amortized    
    Cost   Fair Value
    $   $
Due in one year or less     27,648       27,282  
Due after one year through five years     116,784       110,246  
Due after five years through ten years     61,177       53,945  
Due after ten years     60,617       54,444  
U.S. agency mortgage-backed securities     33,408       31,681  
U.S. agency collateralized mortgage obligations     102,023       99,476  
Non-agency MBS/CMO     136,940       133,965  
Asset-backed securities     47,982       47,638  
Total debt securities     586,579       558,677  
Schedule of Debt Securities Available for Sale with Gains or Losses

Proceeds from active sales of debt securities available for sale with gains or losses, along with the associated gross realized gains and gross realized losses, are shown below. Realized gains and losses are computed on the basis of specific identification (in thousands).

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2026     2025     2026     2025  
    $     $     $     $  
Proceeds from sales and calls with gains or losses     —       1,261       17,843       12,246  
Gross realized gains     —       —       —       —  
Gross realized losses     —       (2 )     —       (307 )
Schedule of Unrealized Losses on Debt Securities

Information pertaining to securities with gross unrealized losses for which an allowance for credit losses has not been recorded at June 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous loss position (in thousands):

 

    Less than 12 months   More than 12 months   Total
        Gross       Gross       Gross
    Fair   Unrealized   Fair   Unrealized   Fair   Unrealized
    Value   Losses   Value   Losses   Value   Losses
    $   $   $   $   $   $
As of June 30, 2026                                                
U.S. Treasuries     —       —       14,137       (803 )     14,137       (803 )
U.S. government agencies     —       —       15,961       (439 )     15,961       (439 )
U.S. agency mortgage-backed securities     1,973       (21 )     21,312       (1,782 )     23,285       (1,803 )
U.S. agency collateralized mortgage obligations     58,681       (619 )     40,244       (1,928 )     98,925       (2,547 )
Non-Agency MBS/CMO     74,656       (1,194 )     41,224       (1,934 )     115,880       (3,128 )
Asset-backed securities     7,940       (48 )     26,038       (348 )     33,978       (396 )
Corporate bonds     496       —       42,123       (1,744 )     42,619       (1,744 )
Obligations of states & political subdivisions     1,440       (10 )     171,139       (17,334 )     172,579       (17,344 )
Total unrealized losses on debt securities     145,186       (1,892 )     372,178       (26,312 )     517,364       (28,204 )
                                                 
As of December 31, 2025                        
U.S. Treasuries     —       —       14,163       (764 )     14,163       (764 )
U.S. government agencies     —       —       15,822       (578 )     15,822       (578 )
U.S. agency mortgage-backed securities     —       —       23,117       (1,746 )     23,117       (1,746 )
U.S. agency collateralized mortgage obligations     8,963       (30 )     61,133       (1,603 )     70,096       (1,633 )
Non-Agency MBS/CMO     44,873       (326 )     46,260       (1,586 )     91,133       (1,912 )
Asset-backed securities     14,043       (110 )     21,686       (286 )     35,729       (396 )
Corporate bonds     —       —       44,620       (2,245 )     44,620       (2,245 )
Obligations of states & political subdivisions     —       —       171,840       (19,560 )     171,840       (19,560 )
Total unrealized losses on debt securities     67,879       (466 )     398,641       (28,368 )     466,520       (28,834 )