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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities
The amortized cost and approximate fair values, together with gross unrealized gains and losses, of investment securities are as follows:
September 30, 2025
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Available for sale
U.S. Treasury securities$796 $— $$794 
SBA Pools3,619 — 420 3,199 
Federal agencies15,000 — 1,065 13,935 
State and municipal obligations157,268 28,578 128,697 
Mortgage-backed securities - government-sponsored enterprises (GSE) residential110,502 72 16,394 94,180 
Corporate obligations11,500 — 1,856 9,644 
298,685 79 48,315 250,449 
Held to maturity
State and municipal obligations2,772 57 2,724 
2,772 57 2,724 
Total investment securities$301,457 $88 $48,372 $253,173 
December 31, 2024
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Available for sale
U.S. Treasury securities$3,159 $$— $3,161 
SBA Pools4,243 — 543 3,700 
Federal agencies15,000 — 1,666 13,334 
State and municipal obligations162,524 32,166 130,359 
Mortgage-backed securities - (GSE) residential119,748 21,440 98,313 
Corporate obligations11,500 — 2,175 9,325 
316,174 57,990 258,192 
Held to maturity
State and municipal obligations3,498 85 3,421 
3,498 85 3,421 
Total investment securities$319,672 $16 $58,075 $261,613 
Schedule of Investments Classified by Contractual Maturity Date
The amortized cost and fair value of investment securities at September 30, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
Available for SaleHeld to Maturity
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Within one year$1,770 $1,767 $725 $725 
One to five years23,490 22,463 987 988 
Five to ten years45,435 41,006 450 450 
After ten years117,488 91,033 610 561 
188,183 156,269 2,772 2,724 
Mortgage-backed securities –GSE residential110,502 94,180 — — 
Totals$298,685 $250,449 $2,772 $2,724 
Schedule of Debt Securities, Held-to-Maturity, Credit Quality Indicator
The following table summarizes the amortized cost of held to maturity securities by credit quality indicator as of September 30, 2025 and December 31, 2024:
State and municipal obligations
September 30, 2025December 31, 2024
AA+$350 $483 
AA— — 
AA-— 295 
A+375 605 
BBB+— — 
Not rated2,047 2,115 
$2,772 $3,498 
Schedule of Unrealized Gain (Loss) on Investments
The following tables show the Company’s investment securities by 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:
Description of
Securities
September 30, 2025
Less Than 12 Months12 Months or MoreTotal
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Available for sale
U.S. Treasury Securities$795 $$— $— $795 $
SBA Pools— — 2,899 420 2,899 420 
Federal agencies— — 13,935 1,065 13,935 1,065 
State and municipal obligations— — 125,795 28,578 125,795 28,578 
Mortgage-backed securities - GSE residential— — 89,917 16,394 89,917 16,394 
Corporate obligations— — 9,644 1,856 9,644 1,856 
Total available for sale795 242,190 48,313 242,985 48,315 
Held to maturity
State and municipal obligations280 — 978 57 1,258 57 
Total$1,075 $$243,168 $48,370 $244,243 $48,372 
Description of
Securities
December 31, 2024
Less Than 12 Months12 Months or MoreTotal
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Available for sale
SBA Pools$454 $$2,991 $542 $3,445 $543 
Federal agencies— — 13,334 1,666 13,334 1,666 
State and municipal obligations1,578 17 127,705 32,149 129,283 32,166 
Mortgage-backed securities - GSE residential1,045 10 96,296 21,430 97,341 21,440 
Corporate obligations— — 9,324 2,175 9,324 2,175 
Total available for sale3,077 28 249,650 57,962 252,727 57,990 
Held to maturity
State and municipal obligations1,253 12 1,769 73 3,022 85 
Total$4,330 $40 $251,419 $58,035 $255,749 $58,075