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INVESTMENT SECURITIES
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT SECURITIES INVESTMENT SECURITIES
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 September 30, 2025 and December 31, 2024, respectively, were as follows:
Available-for-sale securitiesAmortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
September 30, 2025
U.S. government agency obligations$11,502 $10 $80 $11,432 
Mortgage-backed securities83,679 — 16,079 67,600 
Corporate debt securities44,452 140 2,308 42,284 
Asset-backed securities16,566 16 259 16,323 
Total available-for-sale securities$156,199 $166 $18,726 $137,639 
December 31, 2024
U.S. government agency obligations$13,853 $28 $128 $13,753 
Mortgage-backed securities87,762 — 19,376 68,386 
Corporate debt securities44,931 111 3,326 41,716 
Asset-backed securities19,058 43 105 18,996 
Total available-for-sale securities$165,604 $182 $22,935 $142,851 
The amortized cost and fair value of securities held to maturity and the corresponding amounts of gross unrecognized gains and losses as of September 30, 2025 and December 31, 2024, respectively, were as follows:
Held-to-maturity securitiesAmortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Estimated
Fair Value
September 30, 2025
Obligations of states and political subdivisions$400 $— $15 $385 
Mortgage-backed securities81,126 6 16,638 64,494 
Total held-to-maturity securities$81,526 $6 $16,653 $64,879 
December 31, 2024
Obligations of states and political subdivisions$500 $— $22 $478 
Mortgage-backed securities85,004 4 19,864 65,144 
Total held-to-maturity securities$85,504 $4 $19,886 $65,622 
At September 30, 2025, the Bank has pledged certain of its mortgage-backed securities with a carrying value of $32,596 as collateral to secure a line of credit with the Federal Reserve Bank. As of September 30, 2025, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of September 30, 2025, the Bank has pledged certain of its U.S. Government Agency securities with a carrying value of $220 and mortgage-backed securities with a carrying value of $1,850 as collateral against specific municipal deposits. As of September 30, 2025, the Bank also has mortgage-backed securities with a carrying value of $419 pledged as collateral to the Federal Home Loan Bank of Des Moines.
At December 31, 2024 the Bank had pledged certain of its mortgage-backed securities with a carrying value of $33,994 as collateral to secure a line of credit with the Federal Reserve Bank. As of December 31, 2024, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of December 31, 2024, the Bank had pledged certain of its U.S. Government Agency securities with a carrying value of $339 and mortgage-backed securities with a carrying value of $1,766 as collateral against specific municipal deposits. As of December 31, 2024, the Bank also had mortgage-backed securities with a carrying value of $506, pledged as collateral to the Federal Home Loan Bank of Des Moines.
For the nine month periods ended September 30, 2025, and September 30, 2024, there were no sales of available for sale securities.
The estimated fair value of securities at September 30, 2025 and December 31, 2024, by contractual maturity, is shown below.
September 30, 2025December 31, 2024
Available-for-sale securitiesAmortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Due in one year or less$4,012 $3,994 $4,526 $4,487 
Due after one year through five years6,818 6,881 8,652 8,715 
Due after five years through ten years40,196 37,924 41,380 38,033 
Due after ten years21,494 21,240 23,284 23,230 
Total securities with contractual maturities72,520 70,039 77,842 74,465 
Mortgage-backed securities83,679 67,600 87,762 68,386 
Total available for sale securities$156,199 $137,639 $165,604 $142,851 

September 30, 2025December 31, 2024
Held-to-maturity securitiesAmortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Due in one year or less$100 $99 $100 $100 
Due after one year through five years300 286 400 378 
Total securities with contractual maturities400 385 500 478 
Mortgage-backed securities81,126 64,494 85,004 65,144 
Total held to maturity securities$81,526 $64,879 $85,504 $65,622 
Securities with unrealized losses at September 30, 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 Months12 Months or MoreTotal
Available-for-sale securitiesFair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
September 30, 2025
U.S. government agency obligations$2,262 $9 $6,208 $71 $8,470 $80 
Mortgage-backed securities— — 67,600 16,079 67,600 16,079 
Corporate debt securities927 24 29,866 2,284 30,793 2,308 
Asset-backed securities5,277 42 10,143 217 15,420 259 
Total$8,466 $75 $113,817 $18,651 $122,283 $18,726 
December 31, 2024
U.S. government agency obligations$5,472 $25 $3,334 $103 $8,806 $128 
Mortgage-backed securities2,732 112 65,654 19,264 68,386 19,376 
Corporate debt securities— — 36,806 3,326 36,806 3,326 
Asset-backed securities939 1 12,210 104 13,149 105 
Total $9,143 $138 $118,004 $22,797 $127,147 $22,935 
 
 
At September 30, 2025 no ACL was established for available for sale or held to maturity securities. Substantially all the held to maturity portfolio is made up of agency backed mortgage securities. These securities are guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. At September 30, 2025, there were no past due held to maturity securities. Accordingly, the Company does not expect to incur credit losses on these securities. Unrealized losses on available-for-sale investment securities have not been recognized into income because the issuers’ bonds are agency backed securities or other securities that all principal and interest is expected to be received on a timely basis. Furthermore, the Company does not intend to sell, and it is more likely than not that management will not be required to sell, the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates. The issuers continue to make timely principal and interest payments on their bonds.

All of our available for sale and held to maturity investment securities are investment grade securities.