Investment Securities Available-for-Sale and Held to Maturity (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Carrying Amount and Fair Values of Investment Securities Available For Sale

The carrying amount of securities available-for-sale and their approximate fair values as of September 30, 2025 and December 31, 2024 are as follows:

(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized  Losses		Estimated Fair Value
September 30, 2025
Securities available-for-sale:
U.S government and agency securities	$	13,764	$	—	$	150	$	13,614
State and municipal securities		10,042		216		5		10,253
Mortgage-backed securities and collateralized mortgage obligations		219,173		3,312		245		222,240
Corporate bonds		129,005		2,480		873		130,612
	$	371,984	$	6,008	$	1,273	$	376,719

December 31, 2024
Securities Available-for-sale:
U.S. government and agency securities	$	17,548	$	—	$	129	$	17,419
State and municipal securities		1,700		3		4		1,699
Mortgage-backed securities and collateralized mortgage obligations		238,440		1,299		1,136		238,603
Corporate bonds		128,409		1,214		3,319		126,304
	$	386,097	$	2,516	$	4,588	$	384,025

Carrying Amount and Fair Values of Investment Securities Held To Maturity

The Class A-1 Notes are classified as held-to-maturity investments. At September 30, 2025, the carrying amounts and approximate fair values are as follows:

(Dollars in thousands)	Carrying Value		Gross Unrealized Gains		Gross Unrealized  Losses		Estimated Fair Value
September 30, 2025
Securities held-to-maturity:
Asset-backed securities	$	206,037	$	—	$	—	$	206,037
	$	206,037	$	—	$	—	$	206,037

Schedule of Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity at September 30, 2025, by contractual maturity, are shown below.

	September 30, 2025				September 30, 2025
	Securities Available-for-Sale				Securities Held-to-Maturity
(Dollars in thousands)	Amortized Cost		Estimated Fair Value		Carrying Value		Estimated Fair Value
Due from one year to five years	$	34,368	$	35,352	$	206,037	$	206,037
Due from five to ten years		99,699		100,282		—		—
Over ten years		18,744		18,845		—		—
		152,811		154,479		206,037		206,037
Mortgage-backed securities and collateralized mortgage obligations		219,173		222,240		—		—
	$	371,984	$	376,719	$	206,037	$	206,037

Summary of Securities with Unrealized Losses

The following table summarizes securities available-for-sale with unrealized losses at September 30, 2025 and December 31, 2024, aggregated by major security type and length of time in a continuous unrealized loss position:

	Less Than 12 Months				Greater Than 12 Months				Total
(Dollars in thousands)	Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value
September 30, 2025
Securities available-for-sale:
U.S. government and agency securities	$	21	$	6,540	$	129	$	7,074	$	150	$	13,614
State and municipal securities		5		1,839		—		—		5		1,839
Mortgage-backed securities and collateralized mortgage obligations		201		32,060		44		3,767		245		35,827
Corporate bonds		341		26,000		532		22,095		873		48,095
	$	568	$	66,439	$	705	$	32,936	$	1,273	$	99,375
December 31, 2024
Securities available-for-sale:
U.S. government and agency securities	$	79	$	13,688	$	50	$	3,731	$	129	$	17,419
State and municipal securities		4		995		—		—		4		995
Mortgage-backed securities and collateralized mortgage obligations		1,111		131,177		25		288		1,136		131,465
Corporate bonds		649		47,183		2,670		45,820		3,319		93,003
	$	1,843	$	193,043	$	2,745	$	49,839	$	4,588	$	242,882

Summary of Proceeds Received from Sale of Securities and Related Gross Gains and Losses

The following table summarizes proceeds received from the sale of securities available-for-sale and their related gross gains and losses for the three and nine months ended September 30, 2025 and 2024:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(Dollars in thousands)	2025		2024			2025			2024
Securities available-for-sale:
Proceeds from sales	$	—	$	15,572		$	53,407		$	30,074
Gross gain		—		—			402			280
Gross loss		—		480			740			480
Net loss	$	—	$	(480	)	$	(338	)	$	(200	)