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Securities (Tables)

9 Months Ended

Sep. 30, 2025

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, 2025		(in thousands)
Available-for-Sale Debt Securities:
U.S. Treasury securities		$	68,838		$	338		$	(153)		$	—		$	69,023
U.S. Government agencies			11,149			52			(1)			—			11,200
Agency mortgage-backed securities			45,043			124			(1,320)			—			43,847
Agency collateralized mortgage obligations			10,833			224			(107)			—			10,950
Corporate bonds			86,465			272			(4,093)			—			82,644
Municipal obligations			6,595			—			(107)			—			6,488
SBA securities			6,977			—			(106)			—			6,871
Total		$	235,900		$	1,010		$	(5,887)		$	—		$	231,023


		Amortized			Unrealized			Unrealized			Allowance for
		Cost			Gain			Loss			Credit Losses			Fair Value

December 31, 2024		(in thousands)
Available-for-Sale Debt Securities:
U.S. Treasury securities		$	69,469		$	104		$	(489)		$	—		$	69,084
U.S. Government agencies			9,005			9			(7)			—			9,007
Agency mortgage-backed securities			42,083			—			(2,899)			—			39,184
Agency collateralized mortgage obligations			10,993			147			(307)			—			10,833
Corporate bonds			90,219			163			(6,337)			—			84,045
Municipal obligations			10,092			—			(286)			—			9,806
SBA securities			6,298			2			(54)			—			6,246
Total		$	238,159		$	425		$	(10,379)		$	—		$	228,205

Schedule of maturities of securities available for sale


		Available-for-Sale
		Amortized Cost			Fair Value

		(in thousands)

Within one year		$	44,634		$	44,293
Over one year to five years			81,471			81,245
Over five years to ten years			49,235			46,025
Over ten years			4,684			4,663
			180,024			176,226
Agency mortgage-backed securities			45,043			43,847
Agency collateralized mortgage obligations			10,833			10,950
		$	235,900		$	231,023

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, 2025		Number of Securities		Losses			Value			Losses			Value			Losses			Value
U. S. Treasuries		7		$	(5)		$	6,417		$	(148)		$	6,848		$	(153)		$	13,265
U.S. Government Agencies		2			(1)			2,500			—			—			(1)			2,500
Agency mortgage-backed securities		14			(236)			9,468			(1,084)			24,542			(1,320)			34,010
Agency collateralized mortgage obligations		3			(1)			49			(106)			7,657			(107)			7,706
Corporate bonds		28			(596)			11,375			(3,497)			63,555			(4,093)			74,930
Municipal obligations		6			(6)			1,434			(101)			5,054			(107)			6,488
SBA securities		5			(106)			6,871			—			—			(106)			6,871
Total		65		$	(951)		$	38,114		$	(4,936)		$	107,656		$	(5,887)		$	145,770


				Less than 12 Months						12 Months or More						Total

				(Dollars in thousands)
				Gross						Gross						Gross
				Unrealized			Fair			Unrealized			Fair			Unrealized			Fair
December 31, 2024		Number of Securities		Losses			Value			Losses			Value			Losses			Value
U.S. Treasury securities		18		$	(152)		$	35,388		$	(337)		$	6,646		$	(489)		$	42,034
U.S. Government Agencies		2			(7)			4,999			—			—			(7)			4,999
Agency mortgage-backed securities		17			(1,196)			30,229			(1,703)			8,955			(2,899)			39,184
Agency collateralized mortgage obligations		3			(304)			8,265			(3)			113			(307)			8,378
Corporate bonds		29			(1,250)			8,748			(5,087)			69,134			(6,337)			77,882
Municipal obligations		6			—			—			(286)			7,306			(286)			7,306
SBA securities		3			(54)			4,722			—			—			(54)			4,722
Total		78		$	(2,963)		$	92,351		$	(7,416)		$	92,154		$	(10,379)		$	184,505