Investment Securities (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Amortized Cost, Fair Value for Credit Losses |
The following table summarizes the amortized cost, fair value and allowance for credit losses (“ACL”) of securities available-for-sale at September 30, 2026 and December 31, 2025, respectively, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Amortized
Cost | | Gross Unrealized
Gains | | Gross Unrealized
Losses | | Allowance for Credit Losses | | Fair
Value | | September 30, 2026 | | | | | | | | | | | | U.S. Treasuries | | $ | 137,905 | | | $ | 5 | | | $ | (6,598) | | | $ | — | | | $ | 131,312 | | | | | | | | | | | | | | Municipal | | 15,270 | | | — | | | (2,587) | | | — | | | 12,683 | | | Corporate | | 1,500 | | | — | | | (57) | | | — | | | 1,443 | | | Asset-backed securities | | 4,546 | | | 69 | | | — | | | — | | | 4,615 | | | Mortgage-backed securities | | 67,373 | | | — | | | (2,940) | | | — | | | 64,433 | | | Total | | $ | 226,594 | | | $ | 74 | | | $ | (12,182) | | | $ | — | | | $ | 214,486 | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | U.S. Treasuries | | $ | 142,381 | | | $ | 157 | | | $ | (5,302) | | | $ | — | | | $ | 137,236 | | | | | | | | | | | | | | Municipal | | 15,615 | | | 66 | | | (1,784) | | | — | | | 13,897 | | | Corporate | | 3,500 | | | — | | | (96) | | | — | | | 3,404 | | | Asset-backed securities | | 5,013 | | | 13 | | | — | | | — | | | 5,026 | | | Mortgage-backed securities | | 71,145 | | | 581 | | | (1,206) | | | — | | | 70,520 | | | Total | | $ | 237,654 | | | $ | 817 | | | $ | (8,388) | | | $ | — | | | $ | 230,083 | |
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| Schedule of Investments Classified by Contractual Maturity Date |
The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | | (in thousands) | | Amortized
Cost | | Fair
Value | | Amortized
Cost | | Fair
Value | | Within one year | | $ | 25,455 | | | $ | 25,346 | | | $ | 54,110 | | | $ | 53,767 | | | One to five years | | 114,533 | | | 107,992 | | | 70,534 | | | 67,955 | | | Five to ten years | | 13,182 | | | 11,042 | | | 34,346 | | | 30,847 | | | Beyond ten years | | 1,505 | | | 1,058 | | | 2,506 | | | 1,968 | | Asset-backed securities(1) | | 4,546 | | | 4,615 | | | 5,013 | | | 5,026 | | Mortgage-backed securities(1) | | 67,373 | | | 64,433 | | | 71,145 | | | 70,520 | | | Total | | $ | 226,594 | | | $ | 214,486 | | | $ | 237,654 | | | $ | 230,083 | |
_______________ (1) Asset-backed and Mortgage-backed securities are due in monthly installments.
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| Schedule of Investment Portfolio in Continuous Unrealized Loss Position, Fair Value |
The following table summarizes debt securities available-for-sale in an unrealized loss position for which an ACL has not been recorded at September 30, 2026 and December 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or longer | | Total | | (in thousands) | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | Fair
Value | | Unrealized
Losses | | September 30, 2026 | | | | | | | | | | | | | | U.S. Treasuries | | $ | 59,781 | | | $ | (601) | | | $ | 66,580 | | | $ | (5,997) | | | $ | 126,361 | | | $ | (6,598) | | | Municipal | | 4,299 | | | (197) | | | 8,384 | | | (2,390) | | | 12,683 | | | (2,587) | | | Corporate | | — | | | — | | | 1,443 | | | (57) | | | 1,443 | | | (57) | | | | | | | | | | | | | | | | Mortgage-backed securities | | 47,401 | | | (1,351) | | | 17,032 | | | (1,589) | | | 64,433 | | | (2,940) | | | Total | | $ | 111,481 | | | $ | (2,149) | | | $ | 93,439 | | | $ | (10,033) | | | $ | 204,920 | | | $ | (12,182) | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | | | U.S. Treasuries | | $ | 9,853 | | | $ | (32) | | | $ | 95,531 | | | $ | (5,270) | | | $ | 105,384 | | | $ | (5,302) | | | | | | | | | | | | | | | | Municipal | | — | | | — | | | 8,998 | | | (1,784) | | | 8,998 | | | (1,784) | | | Corporate | | — | | | — | | | 3,404 | | | (96) | | | 3,404 | | | (96) | | | | | | | | | | | | | | | | Mortgage-backed securities | | 214 | | | (29) | | | 18,466 | | | (1,177) | | | 18,680 | | | (1,206) | | | Total | | $ | 10,067 | | | $ | (61) | | | $ | 126,399 | | | $ | (8,327) | | | $ | 136,466 | | | $ | (8,388) | |
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