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v3.25.1

INVESTMENT SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available for Sale Securities Reconciliation | The amortized cost and fair value of securities available for sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income as of March 31, 2025 and December 31, 2024, respectively, were as follows:
Available-for-sale securities | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
March 31, 2025 |  |  |  |  |  |  |
U.S. government agency obligations | $ | 13,062 |  |  | $ | 24 |  |  | $ | 100 |  |  | $ | 12,986 |
Mortgage-backed securities | 86,510 |  |  | — |  |  | 17,806 |  |  | 68,704 |
Corporate debt securities | 42,436 |  |  | 88 |  |  | 2,933 |  |  | 39,591 |
Asset-backed securities | 18,496 |  |  | 28 |  |  | 163 |  |  | 18,361 |
Total available-for-sale securities | $ | 160,504 |  |  | $ | 140 |  |  | $ | 21,002 |  |  | $ | 139,642 |
December 31, 2024 |  |  |  |  |  |  |
U.S. government agency obligations | $ | 13,853 |  |  | $ | 28 |  |  | $ | 128 |  |  | $ | 13,753 |
Mortgage-backed securities | 87,762 |  |  | — |  |  | 19,376 |  |  | 68,386 |
Corporate debt securities | 44,931 |  |  | 111 |  |  | 3,326 |  |  | 41,716 |
Asset-backed securities | 19,058 |  |  | 43 |  |  | 105 |  |  | 18,996 |
Total available-for-sale securities | $ | 165,604 |  |  | $ | 182 |  |  | $ | 22,935 |  |  | $ | 142,851 |
Schedule of Held to Maturity Securities | The amortized cost and fair value of securities held to maturity and the corresponding amounts of gross unrecognized gains and losses as of March 31, 2025 and December 31, 2024, respectively, were as follows:
Held-to-maturity securities | Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  | Estimated Fair Value
March 31, 2025 |  |  |  |  |  |  |
Obligations of states and political subdivisions | $ | 400 |  |  | $ | — |  |  | $ | 21 |  |  | $ | 379 |
Mortgage-backed securities | 83,901 |  |  | 5 |  |  | 18,094 |  |  | 65,812 |
Total held-to-maturity securities | $ | 84,301 |  |  | $ | 5 |  |  | $ | 18,115 |  |  | $ | 66,191 |
December 31, 2024 |  |  |  |  |  |  |
Obligations of states and political subdivisions | $ | 500 |  |  | $ | — |  |  | $ | 22 |  |  | $ | 478 |
Mortgage-backed securities | 85,004 |  |  | 4 |  |  | 19,864 |  |  | 65,144 |
Total held-to-maturity securities | $ | 85,504 |  |  | $ | 4 |  |  | $ | 19,886 |  |  | $ | 65,622 |
Schedule of Maturity of Securities | The estimated fair value of securities at March 31, 2025 and December 31, 2024, by contractual maturity, is shown below.
| March 31, 2025 |  | December 31, 2024
Available-for-sale securities | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Due in one year or less | $ | 2,158 |  |  | $ | 2,129 |  |  | $ | 4,526 |  |  | $ | 4,487 |
Due after one year through five years | 8,341 |  |  | 8,401 |  |  | 8,652 |  |  | 8,715 |
Due after five years through ten years | 41,018 |  |  | 38,061 |  |  | 41,380 |  |  | 38,033 |
Due after ten years | 22,477 |  |  | 22,347 |  |  | 23,284 |  |  | 23,230 |
Total securities with contractual maturities | 73,994 |  |  | 70,938 |  |  | 77,842 |  |  | 74,465 |
Mortgage-backed securities | 86,510 |  |  | 68,704 |  |  | 87,762 |  |  | 68,386 |
Total available for sale securities | $ | 160,504 |  |  | $ | 139,642 |  |  | $ | 165,604 |  |  | $ | 142,851 |
| March 31, 2025 |  | December 31, 2024
Held-to-maturity securities | Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Due in one year or less | $ | 100 |  |  | $ | 97 |  |  | $ | 100 |  |  | $ | 100 |
Due after one year through five years | 300 |  |  | 282 |  |  | 400 |  |  | 378 |
Due after five years through ten years | — |  |  | — |  |  | — |  |  | — |
Total securities with contractual maturities | 400 |  |  | 379 |  |  | 500 |  |  | 478 |
Mortgage-backed securities | 83,901 |  |  | 65,812 |  |  | 85,004 |  |  | 65,144 |
Total held to maturity securities | $ | 84,301 |  |  | $ | 66,191 |  |  | $ | 85,504 |  |  | $ | 65,622 |
Schedule of Available for Sale Securities with Unrealized Losses | Securities with unrealized losses at March 31, 2025 and December 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
|  | Less than 12 Months |  | 12 Months or More |  | Total
Available-for-sale securities |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency obligations |  | $ | 3,207 |  |  | $ | 11 |  |  | $ | 5,914 |  |  | $ | 89 |  |  | $ | 9,121 |  |  | $ | 100 |
Mortgage-backed securities |  | 2,722 |  |  | 68 |  |  | 65,982 |  |  | 17,738 |  |  | 68,704 |  |  | 17,806 |
Corporate debt securities |  | — |  |  | — |  |  | 34,688 |  |  | 2,933 |  |  | 34,688 |  |  | 2,933 |
Asset-backed securities |  | 3,061 |  |  | 13 |  |  | 11,767 |  |  | 150 |  |  | 14,828 |  |  | 163 |
Total |  | $ | 8,990 |  |  | $ | 92 |  |  | $ | 118,351 |  |  | $ | 20,910 |  |  | $ | 127,341 |  |  | $ | 21,002 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency obligations |  | $ | 5,472 |  |  | $ | 25 |  |  | $ | 3,334 |  |  | $ | 103 |  |  | $ | 8,806 |  |  | $ | 128 |
Mortgage-backed securities |  | 2,732 |  |  | 112 |  |  | 65,654 |  |  | 19,264 |  |  | 68,386 |  |  | 19,376 |
Corporate debt securities |  | — |  |  | — |  |  | 36,806 |  |  | 3,326 |  |  | 36,806 |  |  | 3,326 |
Asset-backed securities |  | 939 |  |  | 1 |  |  | 12,210 |  |  | 104 |  |  | 13,149 |  |  | 105 |
Total |  | $ | 9,143 |  |  | $ | 138 |  |  | $ | 118,004 |  |  | $ | 22,797 |  |  | $ | 127,147 |  |  | $ | 22,935 |

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