XML 42 R29.htm IDEA: XBRL DOCUMENT v3.25.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investment Securities  
Summary of amortized cost and fair value of securities available-for-sale

Investment securities available for sale (AFS):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2025

​

​

​

​

​

Gross

​

Gross

​

Allowance

​

​

​

​

​

​

​

​

Unrealized

​

Unrealized

​

For Credit

​

Fair

​

    

Cost Basis

    

Gains

    

Losses

​

Losses

    

Value

​

​

(In Thousands)

U.S. Agency

​

$

5,317

​

$

—

​

$

(564)

​

$

—

​

$

4,753

U.S. Agency mortgage-backed securities

​

 

111,450

​

 

256

​

 

(11,268)

​

​

—

​

 

100,438

Municipal

​

 

8,460

​

 

2

​

 

(551)

​

​

—

​

 

7,911

Corporate bonds

​

 

54,158

​

 

156

​

 

(2,221)

​

​

(1,000)

​

 

51,093

Total

​

$

179,385

​

$

414

​

$

(14,604)

​

$

(1,000)

​

$

164,195

Investment securities available for sale (AFS):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

Gross

​

Gross

​

Allowance

​

​

​

​

​

​

​

​

Unrealized

​

Unrealized

​

For Credit

​

Fair

​

    

Cost Basis

    

Gains

    

Losses

​

Losses

    

Value

​

​

(In Thousands)

U.S. Agency

​

$

5,345

​

$

—

​

$

(679)

​

$

—

​

$

4,666

U.S. Agency mortgage-backed securities

​

 

104,227

​

 

90

​

 

(12,783)

​

​

—

​

 

91,534

Municipal

​

 

9,031

​

 

2

​

 

(670)

​

​

—

​

 

8,363

Corporate bonds

​

 

54,254

​

 

94

​

 

(2,931)

​

​

(360)

​

 

51,057

Total

​

$

172,857

​

$

186

​

$

(17,063)

​

$

(360)

​

$

155,620
Summary of amortized cost and fair value of securities held-to-maturity

Investment securities held to maturity (HTM):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2025

​

​

​

​

​

Gross

​

Gross

​

​

​

​

Allowance

​

​

​

​

​

Unrealized

​

Unrealized

​

Fair

​

For Credit

​

    

Cost Basis

    

Gains

    

Losses

​

Value

    

Losses

​

​

(In Thousands)

U.S. Agency

​

$

2,500

​

$

—

​

$

(310)

​

$

2,190

​

$

—

U.S. Agency mortgage-backed securities

​

​

30,404

​

​

44

​

​

(2,091)

​

​

28,357

​

​

—

Municipal

​

 

30,952

​

 

—

​

 

(2,072)

​

 

28,880

​

 

(1)

Corporate bonds and other securities

​

 

3,403

​

 

—

​

 

(174)

​

 

3,229

​

 

(95)

Total

​

$

67,259

​

$

44

​

$

(4,647)

​

$

62,656

​

$

(96)

Investment securities held to maturity (HTM):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

Gross

​

Gross

​

​

​

​

Allowance

​

​

​

​

​

Unrealized

​

Unrealized

​

Fair

​

For Credit

​

​

Cost Basis

    

Gains

    

Losses

​

Value

    

Losses

​

​

(In Thousands)

U.S. Agency

    

$

2,500

​

$

—

​

$

(365)

​

$

2,135

​

$

—

U.S. Agency mortgage-backed securities

    

​

26,966

​

​

28

​

​

(2,403)

​

​

24,591

​

​

—

Municipal

​

 

30,959

​

 

—

​

 

(2,553)

​

 

28,406

​

 

(2)

Corporate bonds and other securities

​

 

3,412

​

 

—

​

 

(73)

​

 

3,339

​

 

(87)

Total

​

$

63,837

​

$

28

​

$

(5,394)

​

$

58,471

​

$

(89)
Schedule of investment securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2025

​

​

Available for sale

​

Held to maturity

​

    

Cost Basis

    

Fair Value

    

Cost Basis

    

Fair Value

Within 1 year

​

$

9,588

​

$

9,544

​

$

2,505

​

$

2,495

After 1 year but within 5 years

​

 

27,236

​

 

25,690

​

 

16,125

​

 

15,672

After 5 years but within 10 years

​

 

35,569

​

 

32,935

​

 

18,121

​

 

16,081

Over 10 years

​

 

106,992

​

 

96,026

​

 

30,508

​

 

28,408

Total

​

$

179,385

​

$

164,195

​

$

67,259

​

$

62,656
Schedule of investments with unrealized losses

The following tables summarize the available for sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of March 31, 2025 and December 31, 2024, aggregated by security type and length of time in a continuous loss position (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2025

​

​

Less Than 12 Months

​

12 Months or Longer

​

Total

​

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

    

Value

    

Losses

    

Value

    

Losses

    

Value

    

Losses

U.S. Agency

​

$

—

​

$

—

​

$

4,753

​

$

(564)

​

$

4,753

​

$

(564)

U.S. Agency mortgage-backed securities

​

​

11,541

​

​

(154)

​

​

62,870

​

​

(11,114)

​

​

74,411

​

​

(11,268)

Municipal

​

 

—

​

​

—

​

​

7,669

​

​

(551)

​

​

7,669

​

​

(551)

Corporate bonds

​

 

4,442

​

​

(557)

​

​

32,954

​

​

(1,664)

​

​

37,396

​

​

(2,221)

Total

​

$

15,983

​

$

(711)

​

$

108,246

​

$

(13,893)

​

$

124,229

​

$

(14,604)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

Less Than 12 Months

​

12 Months or Longer

​

Total

​

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

    

Value

    

Losses

    

Value

    

Losses

    

Value

    

Losses

U.S. Agency

​

$

—

​

$

—

​

$

4,666

​

$

(679)

​

$

4,666

​

$

(679)

U.S. Agency mortgage-backed securities

​

​

16,104

​

​

(275)

​

​

63,323

​

​

(12,508)

​

​

79,427

​

​

(12,783)

Municipal

​

 

—

​

​

—

​

​

8,121

​

​

(670)

​

​

8,121

​

​

(670)

Corporate bonds

​

 

9,500

​

​

(675)

​

​

34,612

​

​

(2,256)

​

​

44,112

​

​

(2,931)

Total

​

$

25,604

​

$

(950)

​

$

110,722

​

$

(16,113)

​

$

136,326

​

$

(17,063)
Schedule of allowance for credit losses on available for sale debt securities

The following tables present the activity in the allowance for credit losses on available for sale debt securities by major security type for the three months ended March 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended March 31, 2025

​

​

Balance at December 31, 2024

​

Charge-Offs

​

Recoveries

​

Provision (Recovery)

​

Balance at March 31, 2025

Corporate bonds

​

$

360

​

$

—

​

$

—

​

$

640

​

$

1,000

Total

​

$

360

​

$

—

​

$

—

​

$

640

​

$

1,000

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended March 31, 2024

​

​

Balance at December 31, 2023

​

Charge-Offs

​

Recoveries

​

Provision (Recovery)

​

Balance at March 31, 2024

Corporate bonds

​

$

926

​

$

(491)

​

$

—

​

$

(319)

​

$

116

Total

​

$

926

​

$

(491)

​

$

—

​

$

(319)

​

$

116

​
Schedule of allowance for credit losses on held to maturity debt securities

The following tables present the activity in the allowance for credit losses on held to maturity debt securities by major security type for the three months ended March 31, 2025 and 2024 (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended March 31, 2025

​

​

Balance at December 31, 2024

​

Charge-Offs

​

Recoveries

​

Provision (Recovery)

​

Balance at March 31, 2025

Municipal

​

$

2

​

$

—

​

$

—

​

$

(1)

​

$

1

Corporate bonds and other securities

​

​

87

​

​

—

​

​

—

​

​

8

​

​

95

Total

​

$

89

​

$

—

​

$

—

​

$

7

​

$

96

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended March 31, 2024

​

​

Balance at December 31, 2023

​

Charge-Offs

​

Recoveries

​

Provision (Recovery)

​

Balance at March 31, 2024

Municipal

​

$

2

​

$

—

​

$

—

​

$

—

​

$

2

Corporate bonds and other securities

​

​

35

​

​

—

​

​

—

​

​

53

​

​

88

Total

​

$

37

​

$

—

​

$

—

​

$

53

​

$

90

​
Schedule of amortized cost of held to maturity debt securities aggregated by credit quality indicator

Specifically, the following table summarizes the amortized cost of held to maturity debt securities at March 31, 2025, aggregated by credit quality indicator (in thousands).

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2025

​

​

Credit Rating

​

​

AAA/AA/A

​

BBB/BB/B

​

Unrated

​

Total

U.S. Agency

    

$

2,500

​

$

—

    

$

—

    

$

2,500

U.S. Agency mortgage-backed securities

​

​

30,404

​

​

—

​

​

—

​

​

30,404

Municipal

​

​

30,952

​

​

—

​

​

—

​

​

30,952

Corporate bonds and other securities

​

​

2,001

​

​

—

​

​

1,402

​

​

3,403

Total

​

$

65,857

​

$

—

​

$

1,402

​

$

67,259

​