Securities (Tables)

9 Months Ended

Sep. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost, Allowance For Credit Losses and Fair Value of Securities

The following tables present the amortized cost, allowance for credit losses, and fair value of securities at the dates indicated:


	September 30, 2026
(dollars in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses		Fair value		# of Securities in unrealized loss position
Securities available-for-sale:
U.S. asset backed securities	$	20,771	$	59	$	(88)	$	—	$	20,742	10
U.S. government agency MBS	28,326		—		(1,352)		—		26,974		19
U.S. government agency CMO	77,008		9		(4,479)		—		72,538		64
State and municipal securities	42,711		—		(5,742)		—		36,969		34
U.S. Treasuries	17,040		—		(864)		—		16,176		16
Non-U.S. government agency CMO	13,010		8		(439)		—		12,579		14
Corporate bonds	17,598		270		(244)		—		17,624		10
Total securities available-for-sale	$	216,464	$	346	$	(13,208)	$	—	$	203,602	167

(dollars in thousands)	Amortized cost		Gross unrecognized gains		Gross unrecognized losses		Allowance for credit losses		Fair value		# of Securities in unrecognized loss position

Securities held to maturity:
State and municipal securities	$	32,395	$	1	$	(4,481)	$	—	$	27,915	20
Total securities held-to-maturity	$	32,395	$	1	$	(4,481)	$	—	$	27,915	20


	December 31, 2025
(dollars in thousands)	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses		Fair value		# of Securities in unrealized loss position
Securities available-for-sale:
U.S. asset backed securities	$	26,385	$	51	$	(219)	$	—	$	26,217	13
U.S. government agency MBS	22,396		223		(268)		—		22,351		6
U.S. government agency CMO	67,216		441		(1,526)		—		66,131		38
State and municipal securities	43,282		151		(3,401)		—		40,032		31
U.S. Treasuries	17,039		—		(833)		—		16,206		16
Non-U.S. government agency CMO	8,786		27		(207)		—		8,606		9
Corporate bonds	14,023		266		(375)		—		13,914		11
Total securities available-for-sale	$	199,127	$	1,159	$	(6,829)	$	—	$	193,457	124

(dollars in thousands)	Amortized cost		Gross unrecognized gains		Gross unrecognized losses		Allowance for credit losses		Fair value		# of Securities in unrecognized loss position
Securities held to maturity:
State and municipal securities	$	32,544	$	22	$	(2,414)	$	—	$	30,152	19
Total securities held-to-maturity	$	32,544	$	22	$	(2,414)	$	—	$	30,152	19

Schedule of Unrealized Gain (Loss) on Investments

The following table shows the Corporation’s investment gross unrealized losses and fair value aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position at the dates indicated:


	September 30, 2026
	Less than 12 Months				12 Months or more				Total
(dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Securities available-for-sale:
U.S. asset backed securities	$	3,435	$	(6)	$	7,155	$	(82)	$	10,590	$	(88)
U.S. government agency MBS	24,595		(1,033)		2,374		(319)		26,969		(1,352)
U.S. government agency CMO	51,008		(2,315)		19,864		(2,164)		70,872		(4,479)
State and municipal securities	4,520		(144)		32,448		(5,598)		36,968		(5,742)
U.S. Treasuries	—		—		16,176		(864)		16,176		(864)
Non-U.S. government agency CMO	7,967		(121)		3,903		(318)		11,870		(439)
Corporate bonds	6,837		(163)		2,202		(81)		9,039		(244)
Total securities available-for-sale	$	98,362	$	(3,782)	$	84,122	$	(9,426)	$	182,484	$	(13,208)

	Less than 12 Months				12 Months or more				Total
(dollars in thousands)	Fair value		Unrecognized losses		Fair value		Unrecognized losses		Fair value		Unrecognized losses
Securities held-to-maturity:
State and municipal securities	$	2,890	$	(238)	$	23,785	$	(4,243)	$	26,675	$	(4,481)
Total securities held-to-maturity	$	2,890	$	(238)	$	23,785	$	(4,243)	$	26,675	$	(4,481)


	December 31, 2025
	Less than 12 Months				12 Months or more				Total
(dollars in thousands)	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Securities available-for-sale:
U.S. asset backed securities	$	6,504	$	(39)	$	11,285	$	(180)	$	17,789	$	(219)
U.S. government agency MBS	3,881		(38)		3,945		(230)		7,826		(268)
U.S. government agency CMO	20,511		(178)		17,074		(1,348)		37,585		(1,526)
State and municipal securities	—		—		35,212		(3,401)		35,212		(3,401)
U.S. Treasuries	—		—		16,206		(833)		16,206		(833)
Non-U.S. government agency CMO	456		—		5,235		(207)		5,691		(207)
Corporate bonds	1,476		(26)		4,879		(349)		6,355		(375)
Total securities available-for-sale	$	32,828	$	(281)	$	93,836	$	(6,548)	$	126,664	$	(6,829)

	Less than 12 Months				12 Months or more				Total
(dollars in thousands)	Fair value		Unrecognized losses		Fair value		Unrecognized losses		Fair value		Unrecognized losses
Securities held-to-maturity:
State and municipal securities	$	2,087	$	(69)	$	25,842	$	(2,345)	$	27,929	$	(2,414)
Total securities held-to-maturity	$	2,087	$	(69)	$	25,842	$	(2,345)	$	27,929	$	(2,414)

Schedule of Amortized Cost and Carrying Value of Held-to-Maturity Securities and Available-for-Sale Securities by Contractual Maturity

The amortized cost and carrying value of securities are shown below by contractual maturities at the dates indicated. Actual maturities may differ from contractual maturities as issuers may have the right to call or repay obligations with or without call or prepayment penalties.


	September 30, 2026
	Available-for-sale				Held-to-maturity
(dollars in thousands)	Amortized cost		Fair value		Amortized cost		Fair value
Due in one year or less	$	—	$	—	$	—	$	—
Due after one year through five years	98,120		91,511		32,172		27,692
Due after five years through ten years	—		—		—		—
Due after ten years	—		—		223		223
Subtotal	98,120		91,511		32,395		27,915
Mortgage-related securities	118,344		112,091		—		—
Total	$	216,464	$	203,602	$	32,395	$	27,915