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

Investment securities held to maturity (HTM):

September 30, 2025

Allowance

Gross

For Credit

Carrying

Unrealized

Fair

Cost Basis

Losses

Value

Gains

Losses

Value

(In Thousands)

U.S. Agency

$

2,500

$

—

$

2,500

$

—

$

(246)

$

2,254

U.S. Agency mortgage-backed securities

33,769

—

33,769

157

(1,885)

32,041

Municipal

28,505

(1)

28,504

4

(1,588)

26,920

Corporate bonds and other securities

2,499

(93)

2,406

—

(129)

2,277

Total

$

67,273

$

(94)

$

67,179

$

161

$

(3,848)

$

63,492

Investment securities held to maturity (HTM):


	December 31, 2024
			Allowance				Gross		Gross
			For Credit		Carrying		Unrealized		Unrealized		Fair
	Cost Basis		Losses		Value		Gains		Losses		Value

	(In Thousands)
U.S. Agency	$	2,500	$	—	$	2,500	$	—	$	(365)	$	2,135
U.S. Agency mortgage-backed securities		26,966		—		26,966		28		(2,403)		24,591
Municipal		30,961		(2)		30,959		—		(2,553)		28,406
Corporate bonds and other securities		3,499		(87)		3,412		—		(73)		3,339
Total	$	63,926	$	(89)	$	63,837	$	28	$	(5,394)	$	58,471

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

September 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

$

—

$

—

$

4,791

$

(416)

$

4,791

$

(416)

U.S. Agency mortgage-backed securities

3,210

(6)

62,898

(9,742)

66,108

(9,748)

Municipal

—

7,700

(417)

7,700

(417)

Corporate bonds

2,499

(449)

22,545

(1,022)

25,044

(1,471)

Total

$

5,709

$

(455)

$

97,934

$

(11,597)

$

103,643

$

(12,052)


	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 nine months ended September 30, 2025 and 2024 (in thousands).


	Three months ended September 30, 2025
	Balance at June 30, 2025		Charge-Offs		Recoveries		Provision (Recovery)		Balance at September 30, 2025
Municipal	$	2	$	—	$	—	$	(1)	$	1
Corporate bonds and other securities		83		—		—		10		93
Total	$	85	$	—	$	—	$	9	$	94


	Three months ended September 30, 2024
	Balance at June 30, 2024		Charge-Offs		Recoveries		Provision (Recovery)		Balance at September 30, 2024
Municipal	$	2	$	—	$	—	$	—	$	2
Corporate bonds and other securities		98		—		—		(12)		86
Total	$	100	$	—	$	—	$	(12)	$	88


	Nine months ended September 30, 2025
	Balance at December 31, 2024		Charge-Offs		Recoveries		Provision (Recovery)		Balance at September 30, 2025
Municipal	$	2	$	—	$	—	$	(1)	$	1
Corporate bonds and other securities		87		—		—		6		93
Total	$	89	$	—	$	—	$	5	$	94


	Nine months ended September 30, 2024
	Balance at December 31, 2023		Charge-Offs		Recoveries		Provision (Recovery)		Balance at September 30, 2024
Municipal	$	2	$	—	$	—	$	—	$	2
Corporate bonds and other securities		35		—		—		51		86
Total	$	37	$	—	$	—	$	51	$	88

Schedule of trading securities at estimated fair value

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


	September 30, 2025		December 31, 2024
U.S. Treasury	$	1,995	$	—
Municipal		2,467		—
Total	$	4,462	$	—