Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Amortized Cost and Fair Value of Securities Available for Sale With Gross Unrealized Gains and Losses |
The amortized cost and fair value of securities available for sale with gross unrealized gains and losses, follows:
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Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair
Value |
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(In thousands) |
|
June 30, 2026 |
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U.S. Government bonds |
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$ |
251,967 |
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|
$ |
103 |
|
|
$ |
(2,691 |
) |
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|
249,379 |
|
Government sponsored enterprises |
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|
47,409 |
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|
|
— |
|
|
|
(1,981 |
) |
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|
45,428 |
|
State and municipal bonds |
|
|
34,784 |
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|
|
— |
|
|
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(361 |
) |
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|
34,423 |
|
Corporate bonds |
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|
18,914 |
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|
8 |
|
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|
(928 |
) |
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17,994 |
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Subordinated debt and collateralized debt obligations |
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13,000 |
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|
— |
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(405 |
) |
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|
12,595 |
|
Total securities available for sale |
|
$ |
366,074 |
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|
$ |
111 |
|
|
$ |
(6,366 |
) |
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$ |
359,819 |
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|
Amortized
Cost |
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|
Gross
Unrealized
Gains |
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|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
|
|
(In thousands) |
|
December 31, 2025 |
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|
U.S. Government bonds |
|
$ |
228,300 |
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|
$ |
1,641 |
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|
$ |
(629 |
) |
|
$ |
229,312 |
|
Government sponsored enterprises |
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|
47,431 |
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|
|
— |
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|
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(2,221 |
) |
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|
45,210 |
|
State and municipal bonds |
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|
33,030 |
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|
|
— |
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(339 |
) |
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|
32,691 |
|
Corporate bonds |
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|
22,431 |
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|
18 |
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(900 |
) |
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|
21,549 |
|
Subordinated debt and collateralized debt obligations |
|
|
14,000 |
|
|
|
— |
|
|
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(470 |
) |
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|
13,530 |
|
Total securities available for sale |
|
$ |
345,192 |
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|
$ |
1,659 |
|
|
$ |
(4,559 |
) |
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$ |
342,292 |
|
|
| Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity |
The amortized cost and fair value of debt securities by contractual maturity at June 30, 2026, is as follows. Expected maturities will differ from contractual maturities on certain securities because of call or prepayment provisions.
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Amortized
Cost |
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Fair
Value |
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(In thousands) |
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Within 1 year |
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$ |
55,703 |
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$ |
55,313 |
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After 1 year through 5 years |
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212,179 |
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207,670 |
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After 5 years through 10 years |
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78,422 |
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|
77,066 |
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Over 10 years |
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|
19,770 |
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|
19,770 |
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$ |
366,074 |
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$ |
359,819 |
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|
| Schedule of Securities in a Continuous Loss Position |
Information pertaining to securities with gross unrealized losses at June 30, 2026, and as of December 31, 2025 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:
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Less Than Twelve Months |
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Twelve Months or Greater |
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|
Gross
Unrealized
Losses |
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Fair
Value |
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|
Gross
Unrealized
Losses |
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|
Fair
Value |
|
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|
(In thousands) |
|
June 30, 2026 |
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|
US Government bonds |
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$ |
2,371 |
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|
$ |
176,926 |
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|
$ |
320 |
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|
$ |
27,658 |
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Government sponsored enterprises |
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|
— |
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|
— |
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|
1,981 |
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|
45,428 |
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State and municipal bonds |
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— |
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— |
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|
361 |
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|
7,895 |
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Corporate bonds |
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|
64 |
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2,936 |
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|
864 |
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|
13,051 |
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Subordinated debt and collateralized debt obligations |
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30 |
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|
970 |
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|
375 |
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|
9,625 |
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Total securities available for sale |
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$ |
2,465 |
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$ |
180,832 |
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|
$ |
3,901 |
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$ |
103,657 |
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Less Than Twelve Months |
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Twelve Months or Greater |
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|
Gross
Unrealized
Losses |
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Fair
Value |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
|
|
(In thousands) |
|
December 31, 2025 |
|
|
|
|
|
|
|
|
|
|
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|
US Government bonds |
|
$ |
159 |
|
|
$ |
41,150 |
|
|
$ |
470 |
|
|
$ |
58,440 |
|
Government sponsored enterprises |
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|
— |
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|
|
— |
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|
2,221 |
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|
45,210 |
|
State and municipal bonds |
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|
— |
|
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|
4,825 |
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|
339 |
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|
8,103 |
|
Corporate bonds |
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|
12 |
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|
987 |
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|
888 |
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|
16,543 |
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Subordinated debt and collateralized debt obligations |
|
|
— |
|
|
|
— |
|
|
|
470 |
|
|
|
10,530 |
|
Total securities available for sale |
|
$ |
171 |
|
|
$ |
46,962 |
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|
$ |
4,388 |
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|
$ |
138,826 |
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