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DEBT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2025

DEBT SECURITIES

Schedule of securities available for sale and held to maturity


					Gross			Gross			Allowance
		Amortized			Unrealized			Unrealized			for Credit			Fair
		Cost			Gains			Losses			Losses			Value

		(in thousands)

March 31, 2025:
Securities available for sale
U.S. government and government-sponsored enterprise obligations		$	42,143		$	—		$	5,454		$	—		$	36,689
U.S. government agency and government-sponsored residential mortgage-backed securities			279,192			214			53,449			—			225,957
SBA asset-backed securities			1,157			—			38			—			1,119
Corporate bonds			2,000			30			151			—			1,879
Total securities available for sale		$	324,492		$	244		$	59,092		$	—		$	265,644

Securities held to maturity
U.S. government and government-sponsored enterprise obligations		$	15,000		$	—		$	137		$	—		$	14,863
SBA asset-backed securities			4,211			—			7			—			4,204
Total securities held to maturity		$	19,211		$	—		$	144		$	—		$	19,067


					Gross			Gross			Allowance
		Amortized			Unrealized			Unrealized			for Credit			Fair
		Cost			Gains			Losses			Losses			Value

		(in thousands)

December 31, 2024:
Securities available for sale
U.S. government and government-sponsored enterprise obligations		$	42,143		$	—		$	6,480		$	—		$	35,663
U.S. government agency and government-sponsored residential mortgage-backed securities			283,523			43			58,569			—			224,997
SBA asset-backed securities			1,446			—			64			—			1,382
Corporate bonds			2,000			13			151			—			1,862
Total securities available for sale		$	329,112		$	56		$	65,264		$	—		$	263,904

Securities held to maturity
U.S. government and government-sponsored enterprise obligations		$	15,000		$	—		$	228		$	—		$	14,772
SBA asset-backed securities			4,627			—			114			—			4,513
Total securities held to maturity		$	19,627		$	—		$	342		$	—		$	19,285

Schedule of debt securities by contractual maturity



		Available for Sale						Held to Maturity
		Amortized			Fair			Amortized			Fair
		Cost			Value			Cost			Value

		(in thousands)

After 1 year through 5 years		$	17,643		$	16,029		$	15,000		$	14,863
After 5 years through 10 years			26,500			22,539			—			—
Over 10 years			—			—			—			—
			44,143			38,568			15,000			14,863

U.S. government agency and government-sponsored residential mortgage-backed securities			279,192			225,957			—			—
SBA asset-backed securities			1,157			1,119			4,211			4,204

Total		$	324,492		$	265,644		$	19,211		$	19,067

Schedule of securities with continuous losses


		Less Than Twelve Months						Twelve Months and Over
		Gross						Gross
		Unrealized			Fair			Unrealized			Fair
		Losses			Value			Losses			Value

		(in thousands)
March 31, 2025:
Securities available for sale

U.S. government and government-sponsored enterprise obligations		$	—		$	—		$	5,454		$	36,689
U.S. government agency and government-sponsored residential mortgage-backed securities			—			—			53,449			207,424
SBA asset-backed securities			—			—			38			1,119
Corporate bonds			—			—			151			849
		$	—		$	—		$	59,092		$	246,081

Securities held to maturity

U.S. government and government-sponsored enterprise obligations		$	—		$	—			137			14,863
SBA asset-backed securities			7			4,204			—			—
		$	7		$	4,204		$	137		$	14,863

December 31, 2024:
Securities available for sale

U.S. government and government-sponsored enterprise obligations		$	-		$	-		$	6,480		$	35,663
U.S. government agency and government-sponsored residential mortgage-backed securities			31			9,346			58,538			206,308
SBA asset-backed securities			-			-			64			1,382
Corporate bonds			-			-			151			849
		$	31		$	9,346		$	65,233		$	244,202

Securities held to maturity

U.S. government and government-sponsored enterprise obligations		$	-		$	-			228			14,772
SBA asset-backed securities			114			4,512			-			-
		$	114		$	4,512		$	228		$	14,772