Note 3 - Mortgage-backed Securities

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 3. MORTGAGE-BACKED SECURITIES

The following table presents the Company’s MBS portfolio as of March 31, 2025 and December 31, 2024:

(in thousands)
	March 31, 2025						December 31, 2024
	Par Value		Cost (1)		Fair Value		Par Value		Cost (1)		Fair Value
Fixed-rate MBS	$	117,708	$	119,443	$	118,704	$	120,502	$	122,298	$	120,056
Structured MBS (2)		n/a		1,530		2,261		n/a		1,580		2,292
Total	$	117,708	$	120,973	$	120,965	$	120,502	$	123,878	$	122,348

(1)	The cost information in the table above represents the aggregate current par value, multiplied by the purchase price of each security in the portfolio.
(2)	The notional balance for the structured MBS portfolio was $16.1 million and $16.7 million as of  March 31, 2025 and December 31, 2024, respectively.

There were no sales of mortgage-backed securities for the three months ended March 31, 2025 and 2024.