XML 29 R23.htm IDEA: XBRL DOCUMENT v3.25.1
Investments in Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Held-to-Maturity Securities

Investments in securities have been classified in the consolidated balance sheets according to management’s intent. The following tables summarize the amortized cost, allowance for credit losses, and fair value of securities and their corresponding amounts of unrealized gains and losses of held to maturity securities at the dates indicated:

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Allowance

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

for Credit

 

 

Fair

 

Held-to-maturity:

 

Cost

 

 

Gains

 

 

Losses

 

 

Losses

 

 

Value

 

 

 

(in thousands)

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities issued by U.S. government-sponsored enterprises

 

$

5,588

 

 

$

—

 

 

$

(85

)

 

$

—

 

 

$

5,503

 

Mortgage-backed securities

 

 

43,099

 

 

 

42

 

 

 

(4,515

)

 

 

—

 

 

 

38,626

 

Corporate bonds

 

 

16,399

 

 

 

216

 

 

 

(396

)

 

 

—

 

 

 

16,219

 

U.S. Treasury securities

 

 

2,995

 

 

 

12

 

 

 

—

 

 

 

—

 

 

 

3,007

 

Total held-to-maturity securities

 

$

68,081

 

 

$

270

 

 

$

(4,996

)

 

$

—

 

 

$

63,355

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities issued by U.S. government-sponsored enterprises

 

$

5,588

 

 

$

—

 

 

$

(138

)

 

$

—

 

 

$

5,450

 

Mortgage-backed securities

 

 

44,261

 

 

 

20

 

 

 

(5,334

)

 

 

—

 

 

 

38,947

 

Corporate bonds

 

 

17,899

 

 

 

192

 

 

 

(471

)

 

 

—

 

 

 

17,620

 

U.S. Treasury securities

 

 

5,467

 

 

 

21

 

 

 

—

 

 

 

—

 

 

 

5,488

 

Total held-to-maturity securities

 

$

73,215

 

 

$

233

 

 

$

(5,943

)

 

$

—

 

 

$

67,505

 
Schedule of Available-for-Sale Securities

The following tables summarize the amortized cost, allowance for credit losses, and fair value of securities and their corresponding amounts of unrealized gains and losses of available for sale securities at the dates indicated:

 

 

 

 

 

 

Gross

 

 

Gross

 

 

Allowance

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

for Credit

 

 

Fair

 

Available-for-sale

 

Cost

 

 

Gains

 

 

Losses

 

 

Losses

 

 

Value

 

 

(in thousands)

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

$

7,483

 

 

$

21

 

 

$

(19

)

 

$

—

 

 

$

7,485

 

Collateralized mortgage obligation

 

 

1,446

 

 

 

—

 

 

 

(18

)

 

 

—

 

 

 

1,428

 

Corporate bonds

 

 

5,000

 

 

 

50

 

 

 

(13

)

 

 

—

 

 

 

5,037

 

Total available-for-sale securities

 

$

13,929

 

 

$

71

 

 

$

(50

)

 

$

—

 

 

$

13,950

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

$

4,164

 

 

$

—

 

 

$

(38

)

 

$

—

 

 

$

4,126

 

Collateralized mortgage obligation

 

 

1,452

 

 

 

—

 

 

 

(14

)

 

 

—

 

 

 

1,438

 

Corporate bonds

 

 

1,000

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,000

 

Total available-for-sale securities

 

$

6,616

 

 

$

—

 

 

$

(52

)

 

$

—

 

 

$

6,564

 
Schedule of the Contractual Maturities of Available for Sale and Held-to-Maturity Securities A schedule of the contractual maturities of available-for-sale and held-to-maturity securities as of March 31, 2025 is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale

 

 

Held-to-maturity

 

 

 

Fair

 

 

Amortized

 

 

Fair

 

 

 

Value

 

 

Cost

 

 

Value

 

 

 

(in thousands)

 

Within 1 year

 

$

1,999

 

 

$

14,308

 

 

$

14,180

 

After 1 year through 5 years

 

 

5,485

 

 

 

14,434

 

 

 

14,402

 

After 5 years through 10 years

 

 

988

 

 

 

4,918

 

 

 

4,714

 

After 10 years

 

 

5,478

 

 

 

34,421

 

 

 

30,059

 

Total

 

$

13,950

 

 

$

68,081

 

 

$

63,355

 
Schedule of Aggregate Fair Value and Unrealized Losses of Available-for-Sale Securities in a continuous Unrealized Loss Position

The aggregate fair value and unrealized losses of available-for-sale securities that have been in a continuous unrealized loss position for less than twelve months and for twelve months or more, and have no allowance for credit losses, are as follows as of March 31, 2025 and December 31, 2024:

 

 

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

# of

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Holdings

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

2

 

 

$

3,364

 

 

$

(19

)

 

$

—

 

 

$

—

 

 

$

3,364

 

 

$

(19

)

Collateralized mortgage obligation

 

 

1

 

 

 

1,428

 

 

 

(18

)

 

 

—

 

 

 

—

 

 

 

1,428

 

 

 

(18

)

Corporate bonds

 

 

1

 

 

 

987

 

 

 

(13

)

 

 

—

 

 

 

—

 

 

 

987

 

 

 

(13

)

Total

 

 

4

 

 

$

5,779

 

 

$

(50

)

 

$

—

 

 

$

—

 

 

$

5,779

 

 

$

(50

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

2

 

 

$

4,126

 

 

$

(38

)

 

$

—

 

 

$

—

 

 

$

4,126

 

 

$

(38

)

Collateralized mortgage obligation

 

 

1

 

 

 

1,438

 

 

 

(14

)

 

 

—

 

 

 

—

 

 

 

1,438

 

 

 

(14

)

Total

 

 

3

 

 

$

5,564

 

 

$

(52

)

 

$

—

 

 

$

—

 

 

$

5,564

 

 

$

(52

)