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v3.25.2

Investments (Tables) | 6 Months Ended
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Jun. 30, 2025
Schedule of Investments [Abstract] |
Schedule of Available-for-sale and Held to Maturity Securities | A summary of the Company’s investment securities classified as available-for-sale and held-to-maturity as of June 30, 2025 and December 31, 2024 is as follows: Schedule of Available-for-sale and Held to Maturity Securities
|  | As of June 30, 2025 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
(Dollars in thousands) |  | cost |  |  | gains |  |  | losses |  |  | fair value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. treasury securities |  | $ | 51,706 |  |  | $ | 427 |  |  | $ | (509 | ) |  | $ | 51,624 |
Municipal obligations, tax exempt |  |  | 104,510 |  |  |  | 23 |  |  |  | (3,731 | ) |  |  | 100,802 |
Municipal obligations, taxable |  |  | 77,643 |  |  |  | 248 |  |  |  | (2,854 | ) |  |  | 75,037 |
Agency mortgage-backed securities |  |  | 132,516 |  |  |  | 197 |  |  |  | (7,734 | ) |  |  | 124,979 |
Total available-for-sale |  | $ | 366,375 |  |  | $ | 895 |  |  | $ | (14,828 | ) |  | $ | 352,442 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  | $ | 3,730 |  |  | $ | - |  |  | $ | (282 | ) |  | $ | 3,448 |
Total held-to-maturity |  | $ | 3,730 |  |  | $ | - |  |  | $ | (282 | ) |  | $ | 3,448 |
|  | As of December 31, 2024 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
|  | cost |  |  | gains |  |  | losses |  |  | fair value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. treasury securities |  | $ | 65,349 |  |  | $ | 53 |  |  | $ | (944 | ) |  | $ | 64,458 |
Municipal obligations, tax exempt |  |  | 111,196 |  |  |  | 47 |  |  |  | (4,115 | ) |  |  | 107,128 |
Municipal obligations, taxable |  |  | 76,200 |  |  |  | 70 |  |  |  | (4,555 | ) |  |  | 71,715 |
Agency mortgage-backed securities |  |  | 140,651 |  |  |  | 40 |  |  |  | (11,480 | ) |  |  | 129,211 |
Total available-for-sale |  | $ | 393,396 |  |  | $ | 210 |  |  | $ | (21,094 | ) |  | $ | 372,512 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  | $ | 3,672 |  |  | $ | - |  |  | $ | (382 | ) |  | $ | 3,290 |
Total held-to-maturity |  | $ | 3,672 |  |  | $ | - |  |  | $ | (382 | ) |  | $ | 3,290 |
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value | The following table summarizes available-for-sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded at June 30, 2025 and December 31, 2024 along with the length of time each category of securities has been in a continuous loss position: Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value
|  |  |  |  | As of June 30, 2025 |
|  |  |  |  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | No. of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
(Dollars in thousands) |  | securities |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  |  | 16 |  |  | $ | 1,780 |  |  | $ | (4 | ) |  | $ | 31,745 |  |  | $ | (505 | ) |  | $ | 33,525 |  |  | $ | (509 | )
Municipal obligations, tax exempt |  |  | 236 |  |  |  | 12,278 |  |  |  | (302 | ) |  |  | 83,518 |  |  |  | (3,429 | ) |  |  | 95,796 |  |  |  | (3,731 | )
Municipal obligations, taxable |  |  | 96 |  |  |  | 16,350 |  |  |  | (237 | ) |  |  | 45,387 |  |  |  | (2,617 | ) |  |  | 61,737 |  |  |  | (2,854 | )
Agency mortgage-backed securities |  |  | 97 |  |  |  | 5,126 |  |  |  | (60 | ) |  |  | 97,932 |  |  |  | (7,674 | ) |  |  | 103,058 |  |  |  | (7,734 | )
Total for available-for-sale |  |  | 445 |  |  | $ | 35,534 |  |  | $ | (603 | ) |  | $ | 258,582 |  |  | $ | (14,225 | ) |  | $ | 294,116 |  |  | $ | (14,828 | )
|  |  |  |  | As of December 31, 2024 |
|  |  |  |  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | No. of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | securities |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  |  | 22 |  |  | $ | 1,558 |  |  | $ | - |  |  | $ | 43,327 |  |  | $ | (944 | ) |  | $ | 44,885 |  |  | $ | (944 | )
Municipal obligations, tax exempt |  |  | 254 |  |  |  | 16,754 |  |  |  | (311 | ) |  |  | 86,409 |  |  |  | (3,804 | ) |  |  | 103,163 |  |  |  | (4,115 | )
Municipal obligations, taxable |  |  | 107 |  |  |  | 22,201 |  |  |  | (726 | ) |  |  | 45,285 |  |  |  | (3,829 | ) |  |  | 67,486 |  |  |  | (4,555 | )
Agency mortgage-backed securities |  |  | 102 |  |  |  | 18,875 |  |  |  | (223 | ) |  |  | 105,615 |  |  |  | (11,257 | ) |  |  | 124,490 |  |  |  | (11,480 | )
Total for available-for-sale |  |  | 485 |  |  |  | 59,388 |  |  |  | (1,260 | ) |  |  | 280,636 |  |  |  | (19,834 | ) |  |  | 340,024 |  |  |  | (21,094 | )
Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities | Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities
|  | Six months ended |
|  | June 30, |
(Dollars in thousands) |  | 2025 |  |  | 2024 |
Balance at January 1, |  | $ | 91 |  |  | $ | 91 |
Balance |  | $ | 91 |  |  | $ | 91 |
Provision for credit losses |  |  | - |  |  |  | - |
Balance at June 30, |  | $ | 91 |  |  | $ | 91 |
Balance |  | $ | 91 |  |  | $ | 91 |
Schedule of Investments Classified by Contractual Maturity Date | Schedule of Investments Classified by Contractual Maturity Date
|  | Amortized |  |  | Estimated |
(Dollars in thousands) |  | cost |  |  | fair value |
Available-for-sale: |  |  |  |  |  |  |  |
Due in less than one year |  | $ | 30,620 |  |  | $ | 30,363 |
Due after one year but within five years |  |  | 199,340 |  |  |  | 192,019 |
Due after five years but within ten years |  |  | 105,688 |  |  |  | 101,055 |
Due after ten years |  |  | 30,727 |  |  |  | 29,005 |
Total available-for-sale |  | $ | 366,375 |  |  | $ | 352,442 |
Held-to-maturity: |  |  |  |  |  |  |  |
Due after one year but within five years |  |  | 3,730 |  |  |  | 3,448 |
Total held-to-maturity |  | $ | 3,730 |  |  | $ | 3,448 |
Schedule of Realized Gain (loss) | Sale proceeds and gross realized gains and losses on sales of available-for-sale securities were as follows for the three and six months ended June 30, 2025 and 2024: Schedule of Realized Gain (loss)
|  | Three months ended |  |  | Six months ended |
|  | June 30, |  |  | June 30, |
(Dollars in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Sales proceeds |  | $ | - |  |  | $ | - |  |  | $ | 3,394 |  |  | $ | - |
Realized gains |  | $ | - |  |  | $ | - |  |  | $ | 22 |  |  | $ | - |
Realized losses |  |  | - |  |  |  | - |  |  |  | (24 | ) |  |  | - |
Net realized losses |  | $ | - |  |  | $ | - |  |  | $ | (2 | ) |  | $ | - |

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