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SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2024
SECURITIES |
Investment Securities Available for Sale and Held to Maturity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | Allowance | ​ | ​ | ​
​ |  | Amortized |  | Unrealized |  | Unrealized |  | for Credit | ​ | ​ | ​
(in thousands) | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Losses | ​ | Fair Value
Available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 29,952 | ​ | $ | 4 | ​ | $ | — | ​ | $ | — | ​ | $ | 29,956
U.S. GSE residential mortgage-backed securities | ​ | ​ | 297 | ​ | ​ | — | ​ | ​ | (133) | ​ | ​ | — | ​ | ​ | 164
Collateralized loan obligations | ​ | ​ | 50,286 | ​ | ​ | 296 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 50,582
Corporate bonds | ​ | ​ | 13,700 | ​ | ​ | — | ​ | ​ | (1,693) | ​ | ​ | — | ​ | ​ | 12,007
Total available for sale securities | ​ | $ | 94,235 | ​ | $ | 300 | ​ | $ | (1,826) | ​ | $ | — | ​ | $ | 92,709
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | Allowance
​ | ​ | Amortized |  | Unrecognized |  | Unrecognized |  | ​ | ​ | for Credit
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value | ​ | Losses
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. GSE residential mortgage-backed securities | ​ | $ | 1,427 | ​ | $ | — | ​ | $ | (106) | ​ | $ | 1,321 | ​ | $ | —
U.S. GSE commercial mortgage-backed securities | ​ |  | 2,546 | ​ |  | — | ​ |  | (116) | ​ |  | 2,430 | ​ |  | —
Total held to maturity securities | ​ | $ | 3,973 | ​ | $ | — | ​ | $ | (222) | ​ | $ | 3,751 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ |  | ​ | ​ |  | Gross |  | Gross | ​ | Allowance |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | for Credit | ​ | ​ | ​
(in thousands) | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Losses | ​ | Fair Value
Available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. GSE residential mortgage-backed securities | ​ | $ | 309 | ​ | $ | — | ​ | $ | (108) | ​ | $ | — | ​ | $ | 201
Collateralized loan obligations | ​ | ​ | 50,283 | ​ | ​ | 82 | ​ | ​ | (99) | ​ | ​ | — | ​ | ​ | 50,266
Corporate bonds | ​ |  | 12,700 | ​ |  | — | ​ |  | (1,748) | ​ |  | — | ​ |  | 10,952
Total available for sale securities | ​ | $ | 63,292 | ​ | $ | 82 | ​ | $ | (1,955) | ​ | $ | — | ​ | $ | 61,419
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ |  | Gross |  | Gross | ​ | ​ | ​ |  | Allowance
​ | ​ | Amortized | ​ | Unrecognized | ​ | Unrecognized | ​ | ​ | ​ | ​ | for Credit
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value | ​ | Losses
Held to maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. GSE residential mortgage-backed securities | ​ | $ | 1,480 | ​ | $ | — | ​ | $ | (96) | ​ | $ | 1,384 | ​ | $ | —
U.S. GSE commercial mortgage-backed securities | ​ |  | 2,561 | ​ |  | — | ​ |  | (110) | ​ |  | 2,451 | ​ |  | —
Total held to maturity securities | ​ | $ | 4,041 | ​ | $ | — | ​ | $ | (206) | ​ | $ | 3,835 | ​ | $ | —
Securities Portfolio by Contractual Maturity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ |  | Amortized |  | Fair
(in thousands) | ​ | Cost | ​ | Value
Securities available for sale: | ​ |  | ​ | ​ |  | ​
Due in one year or less | ​ | $ | 29,952 | ​ | $ | 29,956
Due after one year through five years | ​ |  | 1,000 | ​ |  | 1,000
Five to ten years | ​ | ​ | 16,524 | ​ | ​ | 14,859
Beyond ten years | ​ |  | 46,462 | ​ |  | 46,730
U.S. GSE residential mortgage-backed securities | ​ |  | 297 | ​ |  | 164
Total securities available for sale | ​ | ​ | 94,235 | ​ | ​ | 92,709
Securities held to maturity: | ​ |  |  | ​ |  |
U.S. GSE residential mortgage-backed securities | ​ |  | 1,427 | ​ |  | 1,321
U.S. GSE commercial mortgage-backed securities | ​ |  | 2,546 | ​ |  | 2,430
Total securities held to maturity | ​ | ​ | 3,973 | ​ | ​ | 3,751
Total investment securities | ​ | $ | 98,208 | ​ | $ | 96,460
Gross Unrealized Losses and Fair Values of Investment Securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ |  | Less than Twelve Months |  | Twelve Months or Longer |  | Total
​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ |  | ​ | ​ |  | Gross
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | Number of | ​ | ​ | ​ | ​ | Unrealized
(in thousands, except number of securities) | ​ | Fair Value | ​ | Losses | ​ | Fair Value | ​ | Losses | ​ | Securities | ​ | Fair Value | ​ | Losses
Available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. GSE residential mortgage-backed securities | ​ | $ | — | ​ | $ | — | ​ | $ | 164 | ​ | $ | (133) | ​ | 5 | ​ | $ | 164 | ​ | $ | (133)
Corporate bonds | ​ | ​ | 1,116 | ​ | ​ | (84) | ​ | ​ | 9,891 | ​ | ​ | (1,609) | ​ | 7 | ​ | ​ | 11,007 | ​ | ​ | (1,693)
Total available-for-sale | ​ | $ | 1,116 | ​ | $ | (84) | ​ | $ | 10,055 | ​ | $ | (1,742) | ​ | 12 | ​ | $ | 11,171 | ​ | $ | (1,826)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | Less than Twelve Months |  | Twelve Months or Longer |  | Total
​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ |  | ​ | ​ |  | Gross
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | Number of | ​ | ​ | ​ | ​ | Unrealized
(in thousands, except number of securities) | ​ | Fair Value | ​ | Losses | ​ | Fair Value | ​ | Losses | ​ | Securities | ​ | Fair Value | ​ | Losses
Available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. GSE residential mortgage-backed securities | ​ | $ | — | ​ | $ | — | ​ | $ | 201 | ​ | $ | (108) | ​ | 5 | ​ | $ | 201 | ​ | $ | (108)
Collateralized loan obligations | ​ | ​ | 12,352 | ​ | ​ | (99) | ​ | ​ | — | ​ | ​ | — | ​ | 3 | ​ | ​ | 12,352 | ​ | ​ | (99)
Corporate bonds | ​ | ​ | 1,080 | ​ | ​ | (120) | ​ | ​ | 9,872 | ​ | ​ | (1,628) | ​ | 7 | ​ | ​ | 10,952 | ​ | ​ | (1,748)
Total available-for-sale | ​ | $ | 13,432 | ​ | $ | (219) | ​ | $ | 10,073 | ​ | $ | (1,736) | ​ | 15 | ​ | $ | 23,505 | ​ | $ | (1,955)

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