Securities (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Securities |
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| Schedule of amortized cost and estimated fair values of securities classified as Available-for-Sale |
| | | | | | | | | | | | | | | | | | Amortized | | Unrealized | | Unrealized | | Allowance for | | | | | | Cost | | Gain | | Loss | | Credit Losses | | Fair Value | | September 30, 2026 | | (in thousands) | Available-for-Sale Debt Securities: | | | | | | | | | | | | | | | | U.S. Treasury securities | | $ | 93,869 | | $ | — | | $ | (1,270) | | $ | — | | $ | 92,599 | U.S. Government agencies | | | 4,694 | | | — | | | (141) | | | — | | | 4,553 | Agency mortgage-backed securities | | | 112,129 | | | — | | | (6,235) | | | — | | | 105,894 | Agency collateralized mortgage obligations | | | 12,933 | | | 137 | | | (506) | | | — | | | 12,564 | Corporate bonds | | | 58,745 | | | 112 | | | (2,467) | | | — | | | 56,390 | Municipal obligations | | | 2,000 | | | — | | | (40) | | | — | | | 1,960 | SBA securities | | | 5,717 | | | — | | | (159) | | | — | | | 5,558 | Total | | $ | 290,087 | | $ | 249 | | $ | (10,818) | | $ | — | | $ | 279,518 |
| | | | | | | | | | | | | | | | | | Amortized | | Unrealized | | Unrealized | | Allowance for | | | | | | Cost | | Gain | | Loss | | Credit Losses | | Fair Value | | December 31, 2025 | | (in thousands) | Available-for-Sale Debt Securities: | | | | | | | | | | | | | | | | U.S. Treasury securities | | $ | 95,479 | | $ | 407 | | $ | (103) | | $ | — | | $ | 95,783 | U.S. Government agencies | | | 9,159 | | | 53 | | | — | | | — | | | 9,212 | Agency mortgage-backed securities | | | 69,682 | | | 162 | | | (1,253) | | | — | | | 68,591 | Agency collateralized mortgage obligations | | | 12,109 | | | 202 | | | (74) | | | — | | | 12,237 | Corporate bonds | | | 72,703 | | | 263 | | | (3,081) | | | — | | | 69,885 | Municipal obligations | | | 6,596 | | | — | | | (72) | | | — | | | 6,524 | SBA securities | | | 6,830 | | | — | | | (103) | | | — | | | 6,727 | Total | | $ | 272,558 | | $ | 1,087 | | $ | (4,686) | | $ | — | | $ | 268,959 |
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| Schedule of maturities of securities available for sale |
| | | | | | | | | Available-for-Sale | | | Amortized Cost | | Fair Value | | | | (in thousands) | | | | | | | | Within one year | | $ | 37,932 | | $ | 37,775 | Over one year to five years | | | 88,885 | | | 87,187 | Over five years to ten years | | | 34,037 | | | 32,087 | Over ten years | | | 4,171 | | | 4,011 | | | | 165,025 | | | 161,060 | Agency mortgage-backed securities | | | 112,129 | | | 105,894 | Agency collateralized mortgage obligations | | | 12,933 | | | 12,564 | | | $ | 290,087 | | $ | 279,518 |
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| Schedule of fair value and gross unrealized losses, individual securities have been in a continuous unrealized loss position |
| | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | | | | (Dollars in thousands) | | | | | Gross | | | | | Gross | | | | | Gross | | | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | September 30, 2026 | | Number of Securities | | Losses | | Value | | Losses | | Value | | Losses | | Value | U.S. Treasuries | | 44 | | $ | (1,151) | | $ | 79,777 | | $ | (119) | | $ | 7,820 | | $ | (1,270) | | $ | 87,597 | U.S. Government Agencies | | 3 | | | (141) | | | 4,553 | | | — | | | — | | | (141) | | | 4,553 | Agency mortgage-backed securities | | 54 | | | (3,436) | | | 76,868 | | | (2,799) | | | 29,026 | | | (6,235) | | | 105,894 | Agency collateralized mortgage obligations | | 7 | | | (173) | | | 6,379 | | | (333) | | | 6,025 | | | (506) | | | 12,404 | Corporate bonds | | 19 | | | (288) | | | 13,712 | | | (2,179) | | | 35,567 | | | (2,467) | | | 49,279 | Municipal obligations | | 1 | | | — | | | — | | | (40) | | | 1,960 | | | (40) | | | 1,960 | SBA securities | | 5 | | | — | | | — | | | (159) | | | 5,558 | | | (159) | | | 5,558 | Total | | 133 | | $ | (5,189) | | $ | 181,289 | | $ | (5,629) | | $ | 85,956 | | $ | (10,818) | | $ | 267,245 |
| | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | | | | (Dollars in thousands) | | | | | Gross | | | | | Gross | | | | | Gross | | | | | | | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | December 31, 2025 | | Number of Securities | | Losses | | Value | | Losses | | Value | | Losses | | Value | U.S. Treasury securities | | 8 | | $ | (11) | | $ | 8,929 | | $ | (92) | | $ | 10,945 | | $ | (103) | | $ | 19,874 | Agency mortgage-backed securities | | 25 | | | (301) | | | 26,876 | | | (952) | | | 31,890 | | | (1,253) | | | 58,766 | Agency collateralized mortgage obligations | | 4 | | | (7) | | | 1,995 | | | (67) | | | 7,324 | | | (74) | | | 9,319 | Corporate bonds | | 24 | | | (356) | | | 6,634 | | | (2,725) | | | 53,538 | | | (3,081) | | | 60,172 | Municipal obligations | | 6 | | | (1) | | | 1,440 | | | (71) | | | 5,084 | | | (72) | | | 6,524 | SBA securities | | 5 | | | (28) | | | 2,299 | | | (75) | | | 4,428 | | | (103) | | | 6,727 | Total | | 72 | | $ | (704) | | $ | 48,173 | | $ | (3,982) | | $ | 113,209 | | $ | (4,686) | | $ | 161,382 |
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