Debt Securities (Tables)

12 Months Ended

Dec. 31, 2025

Debt Securities [Abstract]

Amortized Cost and Fair Value of Debt Securities Available-for-sale

The following table summarizes the amortized cost and fair value of debt securities available-for-sale at December 31, 2025 and December 31, 2024, and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale as of December 31, 2025
U.S. federal agencies	$	21	$	-	$	-		$	21
Mortgage-backed securities(1)(2)		27,311		-		(1,879	)		25,432
State and political subdivisions		18,473		-		(699	)		17,774
U.S. treasuries		6,011		-		(403	)		5,608
Corporate debt securities		5,500		-		(316	)		5,184
Total available-for-sale		57,316		-		(3,297	)		54,019
Total debt securities	$	57,316	$	-	$	(3,297	)	$	54,019

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale as of December 31, 2024
U.S. federal agencies	$	64	$	-	$	-		$	64
Mortgage-backed securities(1)(2)		33,704		-		(3,508	)		30,196
State and political subdivisions		21,156		-		(1,430	)		19,726
U.S. treasuries		6,021		-		(695	)		5,326
Corporate debt securities		5,500		-		(871	)		4,629
Total available-for-sale		66,445		-		(6,504	)		59,941
Total debt securities	$	66,445	$	-	$	(6,504	)	$	59,941

Contractual Maturity

The amortized cost and estimated fair value of investment securities at December 31, 2025 and December 31, 2024, by contractual maturity, are shown below. The expected life of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to call or prepay the underlying mortgage loans with or without call or prepayment penalties.

(in thousands)	Amortized Cost		Fair Value
Available-for-sale as of December 31, 2025
Due in one year or less	$	4,941	$	4,889
Due after one year through five years		13,920		13,274
Due after five years through ten years		11,144		10,424
Due after ten years		-		-
Mortgage-backed securities		27,311		25,432
Total available-for-sale	$	57,316	$	54,019

(in thousands)	Amortized Cost		Fair Value
Available-for-sale as of December 31, 2024
Due in one year or less	$	2,061	$	2,028
Due after one year through five years		16,345		15,315
Due after five years through ten years		14,335		12,402
Due after ten years		-		-
Mortgage-backed securities		33,704		30,196
Total available-for-sale	$	66,445	$	59,941

Realized Gains and Losses from Sale, Repayment and Call of Debt Securities

The following table presents a summary of realized gains and losses from the sale, prepayment and call of debt securities for the year ended December 31, 2025 and December 31, 2024.

	Year Ended December 31,
	2025			2024
(in thousands)
Proceeds from sales, maturities, prepayments and calls	$	8,923		$	195,692
Gross realized gains on sales, prepayments and calls		-			-
Gross realized losses on sales, prepayments and calls		(10	)		(6	)
Total realized (losses), net	$	(10	)	$	(6	)

Pledged Securities

The following table details book value of pledged securities as of December 31, 2025 and December 31, 2024:

	Year Ended December 31,
(in thousands)	2025		2024
Book value of pledged securities	$	17,288	$	19,071

Debt Securities in Continuous Unrealized Loss Position

The following table details gross unrealized losses and fair values of investment securities aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at December 31, 2025 and December 31, 2024. As of December 31, 2025, the Company had the ability and intent to hold the debt securities classified as available-for-sale for a period of time sufficient for a recovery of cost. The unrealized losses are due to increases in market interest rates over the yields available at the time the underlying debt securities were purchased and acquired. The fair value of those debt securities having unrealized losses is expected to recover as the securities approach their maturity date or repricing date, or if market yields for such investments decline. Management has no intent or requirement to sell before the recovery of the unrealized loss; therefore, no impairment loss was realized in the Company’s consolidated statement of comprehensive income.

			Less than Twelve Months				Twelve Months or Longer					Total
	Number of				Gross Unrealized				Gross Unrealized					Gross Unrealized
	Investments		Fair Value		Losses		Fair Value		Losses			Fair Value		Losses
(in thousands)
Available-for-sale as of December 31, 2025
U.S. federal agencies		1	$	-	$	-	$	2	$	-		$	2	$	-
Mortgage-backed securities		23		-		-		25,432		(1,879	)		25,432		(1,879	)
State and political subdivisions(1)		54		-		-		17,201		(699	)		17,201		(699	)
U.S. treasuries		6		-		-		5,608		(403	)		5,608		(403	)
Corporate debt securities(2)		4		-		-		5,184		(316	)		5,184		(316	)
Total available-for-sale		88	$	-	$	-	$	53,427	$	(3,297	)	$	53,427	$	(3,297	)
			Less than Twelve Months				Twelve Months or Longer					Total
	Number of				Gross Unrealized				Gross Unrealized					Gross Unrealized
	Investments		Fair Value		Losses		Fair Value		Losses			Fair Value		Losses
(in thousands)
Available-for-sale as of December 31, 2024
U.S. federal agencies		2	$	-	$	-	$	64	$	-		$	64	$	-
Mortgage-backed securities		30		-		-		30,196	$	(3,508	)		30,196		(3,508	)
State and political subdivisions(1)		62		499		-		19,227	$	(1,430	)		19,726		(1,430	)
U.S. treasuries		6		-		-		5,326	$	(695	)		5,326		(695	)
Corporate debt securities(2)		4		-		-		4,629	$	(871	)		4,629		(871	)
Total available-for-sale		104	$	499	$	-	$	59,442	$	(6,504	)	$	59,941	$	(6,504	)

⁽¹⁾ The state and political subdivision securities, $16.33 million and $17.83 million are rated BBB+ or better and $1.45 million and $1.90 million are not rated as of December 31, 2025 and December 31, 2024, respectively.

⁽²⁾ The corporate debt securities are not rated.