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v3.25.1

Available-for-Sale Securities (Tables) | 3 Months Ended
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Mar. 31, 2025
Investments [Abstract] |
Schedule of Available-for-sale Securities | The amortized cost, gross unrealized gains, gross unrealized losses and fair values of available-for-sale securities at March 31, 2025 and December 31, 2024 are as follows:
(In thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
March 31, 2025: |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 75,116 |  |  | $ | — |  |  | $ | (14,115) |  |  | $ | 61,001 |
Corporate bonds | 15,996 |  |  | — |  |  | (3,359) |  |  | 12,637 |
Subordinated notes | 4,000 |  |  | — |  |  | (450) |  |  | 3,550 |
SBA loan pools | 4,345 |  |  | — |  |  | (882) |  |  | 3,463 |
Total available-for-sale securities | $ | 99,457 |  |  | $ | — |  |  | $ | (18,806) |  |  | $ | 80,651 |
December 31, 2024: |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 75,689 |  |  | $ | — |  |  | $ | (15,466) |  |  | $ | 60,223 |
Corporate bonds | 15,996 |  |  | — |  |  | (3,261) |  |  | 12,735 |
Subordinated notes | 4,000 |  |  | — |  |  | (539) |  |  | 3,461 |
SBA loan pools | 4,562 |  |  | — |  |  | (989) |  |  | 3,573 |
Total available-for-sale securities | $ | 100,247 |  |  | $ | — |  |  | $ | (20,255) |  |  | $ | 79,992 |
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The following table presents the available-for-sale securities’ gross unrealized losses and fair value, aggregated by the length of time the individual securities have been in a continuous loss position as of March 31, 2025 and December 31, 2024:
(In thousands) | Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized (Loss) |  | Fair Value |  | Unrealized (Loss) |  | Fair Value |  | Unrealized (Loss)
March 31, 2025: |  |  |  |  |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 2,013 |  |  | $ | (27) |  |  | $ | 58,988 |  |  | $ | (14,088) |  |  | $ | 61,001 |  |  | $ | (14,115) |
Corporate bonds | — |  |  | — |  |  | 12,637 |  |  | (3,359) |  |  | 12,637 |  |  | (3,359) |
Subordinated notes | — |  |  | — |  |  | 3,550 |  |  | (450) |  |  | 3,550 |  |  | (450) |
SBA loan pools | — |  |  | — |  |  | 3,463 |  |  | (882) |  |  | 3,463 |  |  | (882) |
Total available-for-sale securities | $ | 2,013 |  |  | $ | (27) |  |  | $ | 78,638 |  |  | $ | (18,779) |  |  | $ | 80,651 |  |  | $ | (18,806) |
December 31, 2024: |  |  |  |  |  |  |  |  |  |  |
U. S. Government agency and mortgage-backed securities | $ | 4,170 |  |  | $ | (160) |  |  | $ | 56,053 |  |  | $ | (15,306) |  |  | $ | 60,223 |  |  | $ | (15,466) |
Corporate bonds | — |  |  | — |  |  | 12,735 |  |  | (3,261) |  |  | 12,735 |  |  | (3,261) |
Subordinated notes | — |  |  | — |  |  | 3,461 |  |  | (539) |  |  | 3,461 |  |  | (539) |
SBA loan pools | — |  |  | — |  |  | 3,573 |  |  | (989) |  |  | 3,573 |  |  | (989) |
Total available-for-sale securities | $ | 4,170 |  |  | $ | (160) |  |  | $ | 75,822 |  |  | $ | (20,095) |  |  | $ | 79,992 |  |  | $ | (20,255) |
Schedule of Investments Classified by Contractual Maturity Date | The following summarizes, by class and contractual maturity, the amortized cost and estimated fair value of available-for-sale debt securities held as of March 31, 2025 and December 31, 2024. The mortgages underlying the mortgage-backed securities are not due at a single maturity date. Additionally, these mortgages often are and generally may be pre-paid without penalty, creating a degree of uncertainty that such investments can be held until maturity. For convenience, mortgage-backed securities have been included in the summary as a separate line item.
(In thousands) | Amortized Cost |  | Fair Value
| Due Within 5 years |  | Due After 5 years through 10 years |  | Due After 10 years |  | Total |  | Due Within 5 years |  | Due After 5 years through 10 years |  | Due After 10 years |  | Total
March 31, 2025: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | — |  |  | $ | 15,996 |  |  | $ | — |  |  | $ | 15,996 |  |  | $ | — |  |  | $ | 12,637 |  |  | $ | — |  |  | $ | 12,637 |
Subordinated notes | 3,000 |  |  | 1,000 |  |  | — |  |  | 4,000 |  |  | 2,640 |  |  | 910 |  |  | — |  |  | 3,550 |
SBA loan pools | — |  |  | — |  |  | 4,345 |  |  | 4,345 |  |  | — |  |  | — |  |  | 3,463 |  |  | 3,463 |
Municipal bonds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Available-for-sale securities with stated maturity dates | 3,000 |  |  | 16,996 |  |  | 4,345 |  |  | 24,341 |  |  | 2,640 |  |  | 13,547 |  |  | 3,463 |  |  | 19,650 |
U. S. Government agency and mortgage-backed securities | — |  |  | 5,159 |  |  | 69,957 |  |  | 75,116 |  |  | — |  |  | 4,233 |  |  | 56,768 |  |  | 61,001 |
Total available-for-sale securities | $ | 3,000 |  |  | $ | 22,155 |  |  | $ | 74,302 |  |  | $ | 99,457 |  |  | $ | 2,640 |  |  | $ | 17,780 |  |  | $ | 60,231 |  |  | $ | 80,651 |
December 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | $ | — |  |  | $ | 15,996 |  |  | $ | — |  |  | $ | 15,996 |  |  | $ | — |  |  | $ | 12,735 |  |  | $ | — |  |  | $ | 12,735 |
Subordinated notes | 3,000 |  |  | 1,000 |  |  | — |  |  | 4,000 |  |  | 2,610 |  |  | 851 |  |  | — |  |  | 3,461 |
SBA loan pools | — |  |  | — |  |  | 4,562 |  |  | 4,562 |  |  | — |  |  | — |  |  | 3,573 |  |  | 3,573 |
Municipal bonds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Available-for-sale securities with stated maturity dates | 3,000 |  |  | 16,996 |  |  | 4,562 |  |  | 24,558 |  |  | 2,610 |  |  | 13,586 |  |  | 3,573 |  |  | 19,769 |
U. S. Government agency and mortgage-backed securities | — |  |  | 5,172 |  |  | 70,517 |  |  | 75,689 |  |  | — |  |  | 4,134 |  |  | 56,089 |  |  | 60,223 |
Total available-for-sale securities | $ | 3,000 |  |  | $ | 22,168 |  |  | $ | 75,079 |  |  | $ | 100,247 |  |  | $ | 2,610 |  |  | $ | 17,720 |  |  | $ | 59,662 |  |  | $ | 79,992 |

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