XML 33 R23.htm IDEA: XBRL DOCUMENT v3.25.1

INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2025

INVESTMENT SECURITIES

Summary of amortized cost and estimated fair value of securities

The amortized cost and estimated fair value of securities available for sale are as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

Cost

Gains

Losses

Fair Value

March 31, 2025

​

​

​

​

​

​

U.S. Treasury

​

$

172,933

​

$

293

​

$

(373)

​

$

172,853

Mortgage-backed securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

24,434

​

​

141

​

​

(728)

​

​

23,847

Government-sponsored enterprises

​

​

22,468

​

​

128

​

​

(220)

​

​

22,376

Collateralized mortgage obligations:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

22,776

​

​

104

​

​

(286)

​

​

22,594

Government-sponsored enterprises

​

​

53,449

​

​

88

​

​

(277)

​

​

53,260

Municipal obligations

​

16,052

​

48

​

—

​

16,100

Total available for sale securities

​

$

312,112

​

$

802

​

$

(1,884)

​

$

311,030

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

​

U.S. Treasury

​

$

217,412

​

$

162

​

$

(868)

​

$

216,706

Mortgage-backed securities:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

20,517

​

​

—

​

​

(1,189)

​

​

19,328

Government-sponsored enterprises

​

​

17,522

​

​

—

​

​

(633)

​

​

16,889

Collateralized mortgage obligations:

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

18,009

​

​

—

​

​

(461)

​

​

17,548

Government-sponsored enterprises

​

​

33,489

​

​

1

​

​

(249)

​

​

33,241

Municipal obligations

​

17,782

​

51

​

(8)

​

17,825

Total available for sale securities

​

$

324,731

​

$

214

​

$

(3,408)

​

$

321,537

Summary of amortized cost and estimated fair value of held to maturity securities

The amortized cost and estimated fair value of securities held to maturity are as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

Allowance for

​

Net Carrying

​

Cost

Gains

Losses

Fair Value

Credit Losses

Value

March 31, 2025

​

​

​

​

​

​

Corporate debt securities

​

$

28,008

​

​

62

​

​

(3,413)

​

$

24,657

​

$

275

​

$

27,733

Municipal obligations

​

​

3,704

​

​

—

​

​

(26)

​

​

3,678

​

​

—

​

​

3,704

Total held to maturity securities

​

$

31,712

​

$

62

​

$

(3,439)

​

$

28,335

​

$

275

​

$

31,437

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

​

Corporate debt securities

​

$

22,000

​

​

59

​

​

(3,181)

​

$

18,878

​

$

216

​

$

21,784

Municipal obligations

​

​

3,616

​

​

—

​

​

(37)

​

​

3,579

​

​

—

​

​

3,616

Total held to maturity securities

​

$

25,616

​

$

59

​

$

(3,218)

​

$

22,457

​

$

216

​

$

25,400

Summary of allowance for credit losses on securities held to maturity

The following tables present the activity in the allowance for credit losses on securities held to maturity (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended March 31, 2025

​

​

Beginning

​

​

​

​

​

​

​

Ending

​

Balance

Provisions

Charge-offs

Recoveries

Balance

Corporate debt securities

​

$

216

​

$

59

​

$

—

​

$

—

​

$

275

Municipal obligations

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total allowance for credit losses on securities held to maturity

​

$

216

​

$

59

​

$

—

​

$

—

​

$

275

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended March 31, 2024

​

​

Beginning

​

​

​

​

​

​

​

​

Ending

​

Balance

Provisions

Charge-offs

Recoveries

Balance

Corporate debt securities

​

$

238

​

$

—

​

$

—

​

$

—

​

$

238

Municipal obligations

​

—

​

​

—

​

​

—

​

​

—

​

—

Total allowance for credit losses on securities held to maturity

​

$

238

​

$

—

​

$

—

​

$

—

​

$

238

​

Summary of estimated fair value and gross unrealized losses aggregated by security category and length of time such securities have been in a continuous unrealized loss position

The estimated fair value and gross unrealized losses aggregated by security category and length of time such securities have been in a continuous unrealized loss position, is summarized as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2025

​

​

Less than 12 Months

​

12 Months or Longer

​

Total

​

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

Fair Value

Losses

Fair Value

Losses

Fair Value

Losses

Securities available for sale:

​

​

​

​

​

​

U.S. Treasury

​

$

—

​

$

—

​

$

94,026

​

$

(373)

​

$

94,026

​

$

(373)

Mortgage-backed securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

19,383

​

​

(728)

​

​

—

​

​

—

​

​

19,383

​

​

(728)

Government-sponsored enterprises

​

​

16,741

​

​

(220)

​

​

—

​

​

—

​

​

16,741

​

​

(220)

Collateralized mortgage obligations:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

9,872

​

​

(286)

​

​

​

​

​

​

​

​

9,872

​

​

(286)

Government-sponsored enterprises

​

38,465

​

​

(276)

​

​

11

​

​

(1)

​

38,476

​

(277)

Municipal obligations

​

—

​

—

​

—

​

—

​

—

​

—

​

​

$

84,461

​

$

(1,510)

​

$

94,037

​

$

(374)

​

$

178,498

​

$

(1,884)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate debt securities

​

$

9,008

​

$

(175)

​

$

13,587

​

$

(3,238)

​

$

22,595

​

$

(3,413)

Municipal obligations

​

​

—

​

​

—

​

​

3,678

​

​

(26)

​

​

3,678

​

​

(26)

​

​

$

9,008

​

$

(175)

​

$

17,265

​

$

(3,264)

​

$

26,273

​

$

(3,439)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

Less than 12 Months

​

12 Months or Longer

​

Total

​

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

Fair Value

Losses

Fair Value

Losses

Fair Value

​

Losses

Securities available for sale:

​

​

​

​

​

​

U.S. Treasury

​

$

14,432

​

$

(4)

​

$

128,283

​

$

(864)

​

$

142,715

​

$

(868)

Mortgage-backed securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

19,328

​

​

(1,189)

​

​

—

​

​

—

​

​

19,328

​

​

(1,189)

Government-sponsored enterprises

​

​

16,889

​

​

(633)

​

​

—

​

​

—

​

​

16,889

​

​

(633)

Collateralized mortgage obligations:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government agency securities

​

​

17,548

​

​

(461)

​

​

—

​

​

—

​

​

17,548

​

​

(461)

Government-sponsored enterprises

​

31,128

​

​

(248)

​

​

11

​

​

(1)

​

31,139

​

(249)

Municipal obligations

​

6,437

​

(8)

​

—

​

—

​

6,437

​

(8)

​

​

$

105,762

​

$

(2,543)

​

$

128,294

​

$

(865)

​

$

234,056

​

$

(3,408)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate debt securities

​

$

—

​

$

—

​

$

16,819

​

$

(3,181)

​

$

16,819

​

$

(3,181)

Municipal obligations

​

​

—

​

​

—

​

​

3,579

​

​

(37)

​

​

3,579

​

​

(37)

​

​

$

—

​

$

—

​

$

20,398

​

$

(3,218)

​

$

20,398

​

$

(3,218)

Summary of fair value of debt securities and carrying amount, if different, by contractual maturity

The following table sets forth information with regard to contractual maturities of debt securities (dollars in thousands). Securities not due at a single maturity date are shown separately.

​	​	​	​	​	​	​
​		March 31, 2025
​		Amortized			Estimated
​		Cost			Fair Value
Securities available for sale:		​			​
Due in one year or less	​	$	132,961	​	$	132,673
Due after one to five years	​		59,389	​		59,637
Due after five to ten years	​	​	22,157	​	​	22,060
Due after ten years	​	​	97,605	​	​	96,660
​	​	$	312,112	​	$	311,030
​	​	​	​	​	​	​
Securities held to maturity:	​			​
Due in one year or less	​	$	2,861	​	$	2,835
Due after one to five years	​		843	​		843
Due after five to ten years	​		28,008	​		24,657
​	​	$	31,712	​	$	28,335

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss on investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

+ Details

Name:	us-gaap_DebtSecuritiesHeldToMaturityAllowanceForCreditLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

+ Details

Name:	us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References

No definition available.

+ Details

Name:	us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration