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SECURITIES AVAILABLE FOR SALE (Tables)

3 Months Ended

Mar. 31, 2025

SECURITIES AVAILABLE FOR SALE

Summary of Securities Available for Sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

​

​

​

Unrealized

​

Unrealized

​

​

​

​

​

​

(in thousands)

Amortized Cost

Gains

Losses

Fair Value

​

Allowance

March 31, 2025

​

​

​

​

​

​

​

Debt securities:

​

​

​

​

​

​

​

Obligations of US Government-sponsored enterprises

​

$

1,276

​

$

—

​

$

(19)

​

$

1,257

​

$

—

Mortgage-backed securities and collateralized mortgage obligations:

​

​

​

​

​

​

​

US Government-sponsored enterprises

​

​

207,165

​

​

90

​

​

(27,668)

​

​

179,587

​

​

—

US Government agency

​

126,947

​

168

​

(10,153)

​

116,962

​

​

—

Private label

​

21,260

​

7

​

(974)

​

20,293

​

​

—

Obligations of states and political subdivisions thereof

​

121,653

​

1

​

(19,813)

​

101,841

​

​

—

Corporate bonds

​

99,940

​

410

​

(6,329)

​

94,021

​

​

(1,204)

Total securities available for sale

​

$

578,241

​

$

676

​

$

(64,956)

​

$

513,961

​

$

(1,204)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

​

​

​

Unrealized

​

Unrealized

​

​

​

​

​

​

(in thousands)

Amortized Cost

Gains

Losses

Fair Value

​

Allowance

December 31, 2024

​

​

​

​

​

​

​

Debt securities:

​

​

​

​

​

​

​

Obligations of US Government-sponsored enterprises

​

$

1,344

​

$

—

​

$

(26)

​

$

1,318

​

$

—

Mortgage-backed securities and collateralized mortgage obligations:

​

​

​

​

​

​

​

US Government-sponsored enterprises

​

​

208,818

​

​

22

​

​

(31,524)

​

​

177,316

​

​

—

US Government agency

​

115,177

​

53

​

(11,314)

​

103,916

​

​

—

Private label

​

40,633

​

25

​

(1,094)

​

39,564

​

​

—

Obligations of states and political subdivisions thereof

​

116,421

​

5,564

​

(16,533)

​

105,452

​

​

—

Corporate bonds

​

100,923

​

290

​

(7,761)

​

93,452

​

​

(568)

Total securities available for sale

​

$

583,316

​

$

5,954

​

$

(68,252)

​

$

521,018

​

$

(568)

Schedule of allowance for credit losses on available for sale debt securities held

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(in thousands)

​

​

Obligations of US Government-sponsored enterprises

​

​

US Government -sponsored enterprises

​

​

US Government agency

​

​

Private Label

​

​

Obligations of states and political subdivisions thereof

​

​

Corporate Bonds

​

​

Total

Balance at January 1, 2025

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

568

​

$

568

Change in provision for credit losses

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

636

​

​

636

Balance at March 31, 2025

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

1,204

​

$

1,204

Schedule of Amortized Cost and Estimated Fair Value of Available for Sale (AFS) Securities, Segregated by Contractual Maturity

​

​	​	​	​	​	​	​
​	​	Available for sale
(in thousands)		Amortized Cost			Fair Value
Within 1 year		$	2,011	​	$	1,997
Over 1 year to 5 years	​		52,367	​		48,951
Over 5 years to 10 years	​		45,512	​		43,377
Over 10 years	​		122,979	​		102,794
Total bonds and obligations	​		222,869	​		197,119
Mortgage-backed securities and collateralized mortgage obligations	​		355,372	​		316,842
Total securities available for sale	​	$	578,241	​	$	513,961

Schedule of proceeds from sales, calls and maturities of debt securities available for sale, gross realized gains and gross realized losses

​

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
(in thousands)		2025			2024
Proceeds from sales	​	$	—	​	$	—
Proceeds from calls/paydowns	​		28,336	​		7,739
Proceeds from maturities	​	​	—	​	​	—
Gross realized gains	​	​	—	​	​	—
Gross realized losses	​	​	—	​	​	—

Schedule of Securities with Unrealized Losses, Segregated by the Duration of Continuous Unrealized Loss Positions

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less Than Twelve Months

​

Over Twelve Months

​

Total

​

​

Gross

​

​

Gross

​

​

Gross

​

​

​

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

(in thousands)

Losses

Value

Losses

Value

Losses

Value

March 31, 2025

​

​

​

​

​

​

Debt securities:

​

​

​

​

​

​

Obligations of US Government-sponsored enterprises

​

$

1

​

$

702

​

$

18

​

$

554

​

$

19

​

$

1,256

Mortgage-backed securities and collateralized mortgage obligations:

​

​

​

​

​

​

US Government-sponsored enterprises

​

​

27

​

​

5,737

​

​

27,641

​

​

163,863

​

​

27,668

​

​

169,600

US Government agency

​

627

​

29,919

​

9,526

​

63,329

​

10,153

​

93,248

Private label

​

7

​

8,243

​

967

​

12,026

​

974

​

20,269

Obligations of states and political subdivisions thereof

​

106

​

4,804

​

19,707

​

95,656

​

19,813

​

100,460

Corporate bonds

​

31

​

10,939

​

4,462

​

63,044

​

4,493

​

73,983

Total securities available for sale

​

$

799

​

$

60,344

​

$

62,321

​

$

398,472

​

$

63,120

​

$

458,816

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Less Than Twelve Months

​

Over Twelve Months

​

Total

​

Gross

​

​

Gross

​

​

Gross

​

​

​

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

(in thousands)

​

Losses

​

Value

​

Losses

​

Value

​

Losses

​

Value

December 31, 2024

​

​

​

​

​

​

Debt securities:

​

​

​

​

​

​

Obligations of US Government-sponsored enterprises

​

$

2

​

$

707

​

$

24

​

$

611

​

$

26

​

$

1,318

Mortgage-backed securities and collateralized mortgage obligations:

​

​

​

​

​

​

US Government-sponsored enterprises

​

​

109

​

​

8,003

​

​

31,415

​

​

165,116

​

​

31,524

​

​

173,119

US Government agency

​

817

​

35,174

​

10,497

​

60,789

​

11,314

​

95,963

Private label

​

1

​

948

​

1,093

​

19,839

​

1,094

​

20,787

Obligations of states and political subdivisions thereof

​

115

​

4,962

​

16,418

​

99,109

​

16,533

​

104,071

Corporate bonds

​

26

​

2,438

​

4,495

​

75,002

​

4,521

​

77,440

Total securities available for sale

​

$

1,070

​

$

52,232

​

$

63,942

​

$

420,466

​

$

65,012

​

$

472,698

Summary of Securities Pledged as Collateral

​

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- Definition

Tabular disclosure of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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