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

Investment securities held to maturity (HTM):

June 30, 2025

Gross

Allowance

Unrealized

Fair

For Credit

Cost Basis

Gains

Losses

Value

Losses

(In Thousands)

U.S. Agency

$

2,500

$

—

$

(281)

$

2,219

$

—

U.S. Agency mortgage-backed securities

31,552

64

(2,060)

29,556

—

Municipal

30,088

2

(1,819)

28,271

(2)

Corporate bonds and other securities

3,415

—

(181)

3,234

(83)

Total

$

67,555

$

66

$

(4,341)

$

63,280

$

(85)

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 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 June 30, 2025 and December 31, 2024, aggregated by security type and length of time in a continuous loss position (in thousands):

June 30, 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

$

—

$

—

$

4,772

$

(484)

$

4,772

$

(484)

U.S. Agency mortgage-backed securities

8,599

(100)

60,829

(10,587)

69,428

(10,687)

Municipal

—

7,744

(475)

7,744

(475)

Corporate bonds

4,670

(514)

29,293

(1,524)

33,963

(2,038)

Total

$

13,269

$

(614)

$

102,638

$

(13,070)

$

115,907

$

(13,684)


	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 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 and six months ended June 30, 2025 and 2024 (in thousands).


	Three months ended June 30, 2025
	Balance at March 31, 2025		Charge-Offs		Recoveries		Provision (Recovery)		Balance at June 30, 2025
Municipal	$	1	$	—	$	—	$	1	$	2
Corporate bonds and other securities		95		—		—		(12)		83
Total	$	96	$	—	$	—	$	(11)	$	85


	Three months ended June 30, 2024
	Balance at March 31, 2024		Charge-Offs		Recoveries		Provision (Recovery)		Balance at June 30, 2024
Municipal	$	2	$	—	$	—	$	—	$	2
Corporate bonds and other securities		88		—		—		10		98
Total	$	90	$	—	$	—	$	10	$	100


	Six months ended June 30, 2025
	Balance at December 31, 2024		Charge-Offs		Recoveries		Provision (Recovery)		Balance at June 30, 2025
Municipal	$	2	$	—	$	—	$	—	$	2
Corporate bonds and other securities		87		—		—		(4)		83
Total	$	89	$	—	$	—	$	(4)	$	85


	Six months ended June 30, 2024
	Balance at December 31, 2023		Charge-Offs		Recoveries		Provision (Recovery)		Balance at June 30, 2024
Municipal	$	2	$	—	$	—	$	—	$	2
Corporate bonds and other securities		35		—		—		63		98
Total	$	37	$	—	$	—	$	63	$	100

Schedule of trading securities at estimated fair value

The following table presents the Company’s trading securities, at estimated fair value (in thousands).


	June 30, 2025		December 31, 2024
U.S. Treasury	$	997	$	—
Municipal		3,208		—
Total	$	4,205	$	—