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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available for Sale Debt Securities

The tables below show the amortized cost and fair value, by type, of the Company’s available for sale debt securities as of September 30, 2025 and December 31, 2024:

 

 

 

September 30, 2025

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government sponsored agencies

 

$

137,846

 

 

$

338

 

 

$

6,483

 

 

$

131,701

 

Mortgage-backed securities

 

 

147,812

 

 

 

1,521

 

 

 

4,582

 

 

 

144,751

 

Corporate bonds

 

 

22,148

 

 

 

25

 

 

 

299

 

 

 

21,874

 

Small Business Administration

 

 

 

 

 

 

 

 

 

 

 

 

Total available for sale

 

$

307,806

 

 

$

1,884

 

 

$

11,364

 

 

$

298,326

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government sponsored agencies

 

$

147,674

 

 

$

68

 

 

$

10,909

 

 

$

136,833

 

Mortgage-backed securities

 

 

85,708

 

 

 

19

 

 

 

8,444

 

 

 

77,283

 

Corporate bonds

 

 

31,237

 

 

 

 

 

 

1,254

 

 

 

29,983

 

Small Business Administration

 

 

20

 

 

 

 

 

 

 

 

 

20

 

Total available for sale

 

$

264,639

 

 

$

87

 

 

$

20,607

 

 

$

244,119

 

Schedule of Available for Sale Debt Securities in a Continuous Unrealized Loss Position

A summary of securities with gross unrealized losses at September 30, 2025 and December 31, 2024 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:

 

 

 

September 30, 2025

 

 

 

Less Than 12 Months

 

 

12 Months or More

 

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

Gross

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Unrealized

 

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Losses

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government sponsored agencies

 

$

 

 

$

 

 

$

118,421

 

 

$

6,483

 

 

$

6,483

 

Mortgage-backed securities

 

 

4,000

 

 

 

15

 

 

 

59,672

 

 

 

4,567

 

 

 

4,582

 

Corporate bonds

 

 

 

 

 

 

 

 

15,654

 

 

 

299

 

 

 

299

 

Total available for sale

 

$

4,000

 

 

$

15

 

 

$

193,747

 

 

$

11,349

 

 

$

11,364

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

Available for sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government sponsored agencies

 

$

12,337

 

 

$

246

 

 

$

118,800

 

 

$

10,663

 

 

$

10,909

 

Mortgage-backed securities and Small Business Administration

 

 

17,590

 

 

 

698

 

 

 

56,203

 

 

 

7,746

 

 

 

8,444

 

Corporate bonds

 

 

7,955

 

 

 

133

 

 

 

22,028

 

 

 

1,121

 

 

 

1,254

 

Total available for sale

 

$

37,882

 

 

$

1,077

 

 

$

197,031

 

 

$

19,530

 

 

$

20,607

 

Schedule of Amortized Cost Estimated Fair Value and Weighted Average Yields for Available for Sale Debt Securities

The amortized cost and estimated fair value by maturity or next repricing date of investment securities at September 30, 2025 are shown in the following table. Fixed rate securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities.

 

 

 

Amortized

 

 

Fair

 

 

 

Cost

 

 

Value

 

Within one year or less

 

$

10,051

 

 

$

9,976

 

One through five years

 

 

76,636

 

 

 

74,421

 

After five through ten years

 

 

65,975

 

 

 

64,261

 

Over ten years

 

 

155,144

 

 

 

149,668

 

Total

 

$

307,806

 

 

$

298,326