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Securities Available-for-Sale (Tables)

9 Months Ended

Sep. 30, 2025

Debt Securities, Available-for-Sale [Abstract]

Schedule of amortized cost and fair value of securities available-for-sale

The amortized cost and fair value of securities available-for-sale, and the corresponding amounts of gross unrealized gains and losses for which an allowance for credit losses has not been recorded, are as follows as of September 30, 2025 and December 31, 2024:


		September 30, 2025
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(Dollars in thousands)
U.S. Government-sponsored enterprises obligations		$	1,622			$	—			$	(174	)		$	1,448
U.S. Government agency small business administration pools guaranteed by SBA			11,981				6				(765	)			11,222
Collateralized mortgage obligations issued by the FHLMC, FNMA and GNMA			34,584				798				(431	)			34,951
Residential mortgage-backed securities			60,299				917				(3,231	)			57,985
Municipal bonds			32,655				28				(3,829	)			28,854
Corporate debt			500				—				(12	)			488
Corporate subordinated debt			7,774				152				(354	)			7,572
		$	149,415			$	1,901			$	(8,796	)		$	142,520

		December 31, 2024
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(Dollars in thousands)
U.S. Government-sponsored enterprises obligations		$	1,642			$	—			$	(255	)		$	1,387
U.S. Government agency small business administration pools guaranteed by SBA			14,011				16				(902	)			13,125
Collateralized mortgage obligations issued by the FHLMC, FNMA and GNMA			19,924				34				(596	)			19,362
Residential mortgage-backed securities			52,452				392				(4,382	)			48,462
Municipal bonds			32,960				74				(3,502	)			29,532
Corporate debt			500				—				(16	)			484
Corporate subordinated debt			8,325				163				(623	)			7,865
		$	129,814			$	679			$	(10,276	)		$	120,217

Schedule of amortized cost and fair values of securities available-for-sale by contractual maturity

The amortized cost and fair values of securities available-for-sale at September 30, 2025 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


		September 30, 2025
		Amortized Cost				Fair Value
		(Dollars in thousands)
Due in one year or less		$	—			$	—
Due after one year through five years			6,588				6,484
Due after five years through ten years			5,264				4,854
Due after ten years			30,699				27,024
Total U.S. Government-sponsored enterprises obligations ("GSE"), municipal bonds, corporate debt and corporate subordinated debt			42,551				38,362
U.S. Government agency small business pools guaranteed by SBA(1)			11,981				11,222
Collateralized mortgage obligations issued by the FHLMC, FNMA, and GNMA(1)			34,584				34,951
Residential mortgage-backed GSE securities(1)			60,299				57,985
Total		$	149,415			$	142,520

(1) Actual maturities for these debt securities are dependent upon the interest rate environment and prepayments on the underlying loans.

Summary of gross unrealized losses and fair value for those investments with unrealized losses

The following is a summary of gross unrealized losses and fair value for those investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position, at September 30, 2025 and December 31, 2024.


		Less than 12 Months												More than 12 Months												Total
		Number of Securities				Fair Value				Unrealized Losses				Number of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(Dollars in thousands)
September 30, 2025
U.S. Government sponsored enterprises obligations			—			$	—			$	—				3			$	1,448			$	(174	)		$	1,448			$	(174	)
U.S. Government agency small business administration pools guaranteed by SBA			7				4,930				(49	)			8				5,704				(716	)			10,634				(765	)
Collateralized mortgage obligations issued by the FHLMC, FNMA and GNMA			5				9,275				(82	)			4				2,225				(349	)			11,500				(431	)
Residential mortgage backed securities			3				2,408				(69	)			25				14,644				(3,162	)			17,052				(3,231	)
Municipal bonds			1				254				(7	)			36				26,732				(3,822	)			26,986				(3,829	)
Corporate debt			—				—				—				1				488				(12	)			488				(12	)
Corporate subordinated debt			—				—				—				4				4,145				(354	)			4,145				(354	)
			16			$	16,867			$	(207	)			81			$	55,386			$	(8,589	)		$	72,253			$	(8,796	)
December 31, 2024
U.S. Government sponsored enterprises obligations			—			$	—			$	—				3			$	1,387			$	(255	)		$	1,387			$	(255	)
U.S. Government agency small business administration pools guaranteed by SBA			5				4,245				(28	)			8				6,224				(874	)			10,469				(902	)
Collateralized mortgage obligations issued by the FHLMC, FNMA and GNMA			7				11,913				(126	)			4				2,256				(470	)			14,169				(596	)
Residential mortgage backed securities			20				22,395				(422	)			24				14,485				(3,960	)			36,880				(4,382	)
Municipal bonds			3				825				(12	)			36				27,369				(3,490	)			28,194				(3,502	)
Corporate debt			—				—				—				1				484				(16	)			484				(16	)
Corporate subordinated debt			—				—				—				5				4,887				(623	)			4,887				(623	)
			35			$	39,378			$	(588	)			81			$	57,092			$	(9,688	)		$	96,470			$	(10,276	)

Summary of proceeds from maturities and principal payments received on available for sale securities

Proceeds from maturities and principal payments received on securities available-for-sale were as follows for the three and nine months ended September 30, 2025 and 2024:


		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
		(Dollars in thousands)
Proceeds from maturities and principal payments received on securities available-for-sale		$	4,520			$	5,352			$	12,127			$	8,055