XML 38 R28.htm IDEA: XBRL DOCUMENT v3.25.3
Securities (Tables)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
September 30, 2025
 Amortized CostGross UnrealizedFair Value
(amounts in thousands)GainsLosses
Securities available-for-sale    
U.S. Government-sponsored agencies$68,291 $441 $(1,196)$67,536 
Municipal securities64,837 4 (2,289)62,552 
Agency mortgage-backed securities - residential 1
378,027 615 (23,157)355,485 
Agency mortgage-backed securities - commercial61,272 139 (902)60,509 
Private label mortgage-backed securities - residential37,389 243 (732)36,900 
Asset-backed securities17,458 82 (5)17,535 
Corporate securities26,017 273 (901)25,389 
Total available-for-sale$653,291 $1,797 $(29,182)$625,906 
 December 31, 2024
 Amortized CostGross UnrealizedFair Value
(amounts in thousands)GainsLosses
Securities available-for-sale    
U.S. Government-sponsored agencies$83,811 $487 $(1,482)$82,816 
Municipal securities67,441 — (3,787)63,654 
Agency mortgage-backed securities - residential 1
300,914 460 (31,733)269,641 
Agency mortgage-backed securities - commercial64,214 276 (1,159)63,331 
Private label mortgage-backed securities - residential46,623 186 (988)45,821 
Asset-backed securities
23,802 62 (43)23,821 
Corporate securities40,049 71 (1,849)38,271 
Total available-for-sale$626,854 $1,542 $(41,041)$587,355 
Schedule Of Held-To-Maturity Securities Reconciliation
 September 30, 2025
 Amortized CostGross UnrealizedFair ValueAllowance for Credit LossesNet Carrying Value
(amounts in thousands)GainsLosses
Securities held-to-maturity    
Municipal securities$11,014 $1 $(521)$10,494 $(3)$11,011 
Agency mortgage-backed securities - residential221,144 1,218 (12,438)209,924 — 221,144 
Agency mortgage-backed securities - commercial5,653 — (905)4,748 — 5,653 
Corporate securities24,036 — (755)23,281 (119)23,917 
Total held-to-maturity$261,847 $1,219 $(14,619)$248,447 $(122)$261,725 

1 Includes $0.2 million of additional premium related to terminated interest rate swaps associated with agency mortgage-backed securities - residential as of September 30, 2025.
 December 31, 2024
 Amortized CostGross UnrealizedFair ValueAllowance for Credit LossesNet Carrying Value
(amounts in thousands)GainsLosses
Securities held-to-maturity    
Municipal securities$12,846 $— $(921)$11,925 $(3)$12,843 
Agency mortgage-backed securities - residential201,840 102 (17,530)184,412 — 201,840 
Agency mortgage-backed securities - commercial5,705 — (1,157)4,548 — 5,705 
Corporate securities29,559 — (1,593)27,966 (151)29,408 
Total held-to-maturity$249,950 $102 $(21,201)$228,851 $(154)$249,796 

1 Includes $0.3 million of additional premium related to terminated interest rate swaps associated with agency mortgage-backed securities - residential as of December 31, 2024.
Available-for-sale Securities
 Available-for-Sale
(amounts in thousands)Amortized
Cost		Fair
Value
Within one year$594 $594 
One to five years28,458 27,829 
Five to ten years61,896 61,169 
After ten years68,197 65,885 
 159,145 155,477 
Agency mortgage-backed securities - residential378,027 355,485 
Agency mortgage-backed securities - commercial61,272 60,509 
Private label mortgage-backed securities - residential37,389 36,900 
Asset-backed securities17,458 17,535 
Total$653,291 $625,906 
Held-to-maturity Securities
 Held-to-Maturity
(amounts in thousands)Amortized
Cost		Fair
Value
Within one year$935 $928 
One to five years20,561 20,391 
Five to ten years10,514 9,701 
After ten years3,040 2,755 
35,050 33,775 
Agency mortgage-backed securities - residential221,144 209,924 
Agency mortgage-backed securities - commercial5,653 4,748 
Total$261,847 $248,447 
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following tables show the securities portfolio’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2025 and December 31, 2024.

 September 30, 2025
 Less Than 12 Months12 Months or LongerTotal
(amounts in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Securities available-for-sale      
U.S. Government-sponsored agencies$10,971 $(75)$28,765 $(1,121)$39,736 $(1,196)
Municipal securities2,400 (3)49,492 (2,286)51,892 (2,289)
Agency mortgage-backed securities- residential90,486 (240)172,553 (22,917)263,039 (23,157)
Agency mortgage-backed securities- commercial12,829 (35)26,185 (867)39,014 (902)
Private label mortgage-backed securities - residential13,127 (23)6,751 (709)19,878 (732)
     Asset-backed securities5,535 — 3,755 (5)9,290 (5)
Corporate securities— — 15,101 (901)15,101 (901)
Total$135,348 $(376)$302,602 $(28,806)$437,950 $(29,182)


 December 31, 2024
 Less Than 12 Months12 Months or LongerTotal
(amounts in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Securities available-for-sale      
U.S. Government-sponsored agencies$16,856 $(111)$29,748 $(1,371)$46,604 $(1,482)
Municipal securities8,504 (54)52,649 (3,733)61,153 (3,787)
Agency mortgage-backed securities - residential
41,005 (179)169,483 (31,554)210,488 (31,733)
Agency mortgage-backed securities - commercial18,141 (37)12,027 (1,122)30,168 (1,159)
Private label mortgage-backed securities - residential3,003 (14)7,450 (974)10,453 (988)
Asset-backed securities
10,299 (43)— — 10,299 (43)
Corporate securities2,994 (6)27,179 (1,843)30,173 (1,849)
Total$100,802 $(444)$298,536 $(40,597)$399,338 $(41,041)
The following tables summarize ratings for the Company’s HTM portfolio as of September 30, 2025 and December 31, 2024.

September 30, 2025
Held-to-Maturity
(amounts in thousands)Municipal SecuritiesMortgage-Backed Securities - ResidentialMortgage-Backed Securities - CommercialCorporate SecuritiesTotal
AAA equivalent - agency$— $221,144 $5,653 $— $226,797 
Aa1/AA+7,051 — — — 7,051 
Aa2/AA2,170 — — — 2,170 
Aa3/AA-1,793 — — — 1,793 
A2/A— — — 5,000 5,000 
Baa1/BBB+— — — 7,500 7,500 
Baa2/BBB— — — 4,000 4,000 
Baa3/BBB-— — — 5,536 5,536 
Ba1/BB+— — — 2,000 2,000 
   Total$11,014 $221,144 $5,653 $24,036 $261,847 

December 31, 2024
Held-to-Maturity
(amounts in thousands)Municipal SecuritiesMortgage-Backed Securities - ResidentialMortgage-Backed Securities - CommercialCorporate SecuritiesTotal
AAA equivalent - agency$— $201,840 $5,705 $— $207,545 
Aa1/AA+8,878 — — — 8,878 
Aa2/AA2,175 — — — 2,175 
Aa3/AA-1,793 — — — 1,793 
A2/A— — — 5,000 5,000 
Baa1/BBB+— — — 8,500 8,500 
Baa2/BBB— — — 5,500 5,500 
Baa3/BBB-— — — 8,559 8,559 
Ba1/BB+— — — 2,000 2,000 
   Total$12,846 $201,840 $5,705 $29,559 $249,950