INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2025

INVESTMENT SECURITIES

Summary of amortized cost and fair value of securities available-for-sale

	DECEMBER 31, 2025
			GROSS		GROSS		ALLOWANCE
			UNREALIZED		UNREALIZED		FOR CREDIT		FAIR
	COST BASIS		GAINS		LOSSES		LOSSES		VALUE
	(IN THOUSANDS)
U.S. Agency	$	5,162	$	—	$	(372)	$	—	$	4,790
U.S. Agency mortgage-backed securities		119,381		639		(9,164)		—		110,856
Municipal		10,155		140		(361)		—		9,934
Corporate bonds		51,473		387		(1,212)		—		50,648
Total	$	186,171	$	1,166	$	(11,109)	$	—	$	176,228

	DECEMBER 31, 2024
			GROSS		GROSS		ALLOWANCE
			UNREALIZED		UNREALIZED		FOR CREDIT		FAIR
	COST BASIS		GAINS		LOSSES		LOSSES		VALUE
	(IN THOUSANDS)
U.S. Agency	$	5,345	$	—	$	(679)	$	—	$	4,666
U.S. Agency mortgage-backed securities		104,227		90		(12,783)		—		91,534
Municipal		9,031		2		(670)		—		8,363
Corporate bonds		54,254		94		(2,931)		(360)		51,057
Total	$	172,857	$	186	$	(17,063)	$	(360)	$	155,620

Summary of amortized cost and fair value of securities held-to-maturity

	DECEMBER 31, 2025
			ALLOWANCE				GROSS		GROSS
			FOR CREDIT		CARRYING		UNREALIZED		UNREALIZED		FAIR
	COST BASIS		LOSSES		VALUE		GAINS		LOSSES		VALUE
	(IN THOUSANDS)
U.S. Agency	$	2,500	$	—	$	2,500	$	—	$	(216)	$	2,284
U.S. Agency mortgage-backed securities		36,592		—		36,592		210		(1,820)		34,982
Municipal		30,754		(1)		30,753		6		(1,415)		29,344
Corporate bonds and other securities		2,500		(89)		2,411		—		(105)		2,306
Total	$	72,346	$	(90)	$	72,256	$	216	$	(3,556)	$	68,916

	DECEMBER 31, 2024
			ALLOWANCE				GROSS		GROSS
			FOR CREDIT		CARRYING		UNREALIZED		UNREALIZED		FAIR
	COST BASIS		LOSSES		VALUE		GAINS		LOSSES		VALUE
	(IN THOUSANDS)
U.S. Agency	$	2,500	$	—	$	2,500	$	—	$	(365)	$	2,135
U.S. Agency mortgage-backed securities		26,966		—		26,966		28		(2,403)		24,591
Municipal		30,961		(2)		30,959		—		(2,553)		28,406
Corporate bonds and other securities		3,499		(87)		3,412		—		(73)		3,339
Total	$	63,926	$	(89)	$	63,837	$	28	$	(5,394)	$	58,471

Schedule of investment securities

Investment securities available for sale:

	AT DECEMBER 31, 2025
									TOTAL
							U.S. AGENCY		INVESTMENT
							MORTGAGE-		SECURITIES
					CORPORATE		BACKED		AVAILABLE
	U. S. AGENCY		MUNICIPAL		BONDS		SECURITIES		FOR SALE
	(IN THOUSANDS)
COST BASIS
Within 1 year	$	—	$	700	$	7,793	$	—	$	8,493
After 1 year but within 5 years		3,112		4,372		15,841		1,100		24,425
After 5 years but within 10 years		1,000		4,103		26,089		3,976		35,168
Over 10 years		1,050		980		1,750		114,305		118,085
Total	$	5,162	$	10,155	$	51,473	$	119,381	$	186,171
FAIR VALUE
Within 1 year	$	—	$	700	$	7,739	$	—	$	8,439
After 1 year but within 5 years		2,904		4,124		15,772		1,097		23,897
After 5 years but within 10 years		899		4,126		25,356		3,871		34,252
Over 10 years		987		984		1,781		105,888		109,640
Total	$	4,790	$	9,934	$	50,648	$	110,856	$	176,228

Investment securities held to maturity:

	AT DECEMBER 31, 2025
									TOTAL
							U.S. AGENCY		INVESTMENT
					CORPORATE		MORTGAGE-		SECURITIES
					BONDS AND		BACKED		HELD TO
	U.S. AGENCY		MUNICIPAL		OTHER		SECURITIES		MATURITY
	(IN THOUSANDS)
CARRYING VALUE
Within 1 year	$	—	$	1,406	$	1,000	$	—	$	2,406
After 1 year but within 5 years		—		15,844		—		—		15,844
After 5 years but within 10 years		2,500		13,188		1,411		1,031		18,130
Over 10 years		—		315		—		35,561		35,876
Total	$	2,500	$	30,753	$	2,411	$	36,592	$	72,256
FAIR VALUE
Within 1 year	$	—	$	1,404	$	980	$	—	$	2,384
After 1 year but within 5 years		—		15,569		—		—		15,569
After 5 years but within 10 years		2,284		12,085		1,326		1,014		16,709
Over 10 years		—		286		—		33,968		34,254
Total	$	2,284	$	29,344	$	2,306	$	34,982	$	68,916

Schedule of investments with unrealized losses

The following tables summarize the available for sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2025 and 2024, aggregated by security type and length of time in a continuous loss position (in thousands):

	DECEMBER 31, 2025
	LESS THAN 12 MONTHS				12 MONTHS OR LONGER				TOTAL
	FAIR		UNREALIZED		FAIR		UNREALIZED		FAIR		UNREALIZED
	VALUE		LOSSES		VALUE		LOSSES		VALUE		LOSSES
U.S. Agency	$	—	$	—	$	4,790	$	(372)	$	4,790	$	(372)
U.S. Agency mortgage-backed securities		9,198		(28)		60,272		(9,136)		69,470		(9,164)
Municipal		—		—		5,670		(361)		5,670		(361)
Corporate bonds		5,086		(64)		20,416		(1,148)		25,502		(1,212)
Total	$	14,284	$	(92)	$	91,148	$	(11,017)	$	105,432	$	(11,109)

	DECEMBER 31, 2024
	LESS THAN 12 MONTHS				12 MONTHS OR LONGER				TOTAL
	FAIR		UNREALIZED		FAIR		UNREALIZED		FAIR		UNREALIZED
	VALUE		LOSSES		VALUE		LOSSES		VALUE		LOSSES
U.S. Agency	$	—	$	—	$	4,666	$	(679)	$	4,666	$	(679)
U.S. Agency mortgage-backed securities		16,104		(275)		63,323		(12,508)		79,427		(12,783)
Municipal		—		—		8,121		(670)		8,121		(670)
Corporate bonds		9,500		(675)		34,612		(2,256)		44,112		(2,931)
Total	$	25,604	$	(950)	$	110,722	$	(16,113)	$	136,326	$	(17,063)

Schedule of allowance for credit losses on available for sale debt securities

The following tables present the activity in the allowance for credit losses on available for sale debt securities by major security type for the years ended December 31, 2025 and 2024 (in thousands).

	BALANCE AT DECEMBER 31, 2024		CHARGE-OFFS		RECOVERIES		PROVISION (RECOVERY)		BALANCE AT DECEMBER 31, 2025
Corporate bonds	$	360	$	(1,000)	$	—	$	640	$	—
Total	$	360	$	(1,000)	$	—	$	640	$	—

	BALANCE AT DECEMBER 31, 2023		CHARGE-OFFS		RECOVERIES		PROVISION (RECOVERY)		BALANCE AT DECEMBER 31, 2024
Corporate bonds	$	926	$	(491)	$	—	$	(75)	$	360
Total	$	926	$	(491)	$	—	$	(75)	$	360

Schedule of allowance for credit losses on held to maturity debt securities

The following tables present the activity in the allowance for credit losses on held to maturity debt securities by major security type for the years ended December 31, 2025 and 2024 (in thousands).

	BALANCE AT DECEMBER 31, 2024		CHARGE-OFFS		RECOVERIES		PROVISION (RECOVERY)		BALANCE AT DECEMBER 31, 2025
Municipal	$	2	$	—	$	—	$	(1)	$	1
Corporate bonds and other securities		87		—		—		2		89
Total	$	89	$	—	$	—	$	1	$	90

	BALANCE AT DECEMBER 31, 2023		CHARGE-OFFS		RECOVERIES		PROVISION (RECOVERY)		BALANCE AT DECEMBER 31, 2024
Municipal	$	2	$	—	$	—	$	—	$	2
Corporate bonds and other securities		35		—		—		52		87
Total	$	37	$	—	$	—	$	52	$	89

Schedule of amortized cost of held to maturity debt securities aggregated by credit quality indicator

Specifically, the following table summarizes the carrying value of held to maturity debt securities at December 31, 2025, aggregated by credit quality indicator (in thousands).

	DECEMBER 31, 2025
	CREDIT RATING
	AAA/AA/A		BBB/BB/B		UNRATED		TOTAL
U.S. Agency	$	2,500	$	—	$	—	$	2,500
U.S. Agency mortgage-backed securities		36,592		—		—		36,592
Municipal		30,753		—		—		30,753
Corporate bonds and other securities		1,000		—		1,411		2,411
Total	$	70,845	$	—	$	1,411	$	72,256

Schedule of trading securities at estimated fair value

	AT DECEMBER 31,
	2025		2024
	(IN THOUSANDS)
U.S. Treasury	$	3,401	$	—
Municipal		3,852		—
Total	$	7,253	$	—

Schedule of net gain on trading securities included in trading securities revenue

	YEAR ENDED DECEMBER 31,
	2025		2024
	(IN THOUSANDS)
Net realized gain on sales	$	213	$	—
Net unrealized gain		29		—
Net gain on trading securities		242		—
Less: Portfolio expenses and management fees		124		—
Trading securities revenue	$	118	$	—