XML 35 R25.htm IDEA: XBRL DOCUMENT v3.26.1
Available for Sale Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Available for Sale Securities [Abstract]  
Amortized Cost and Fair Value of Investment Securities
The amortized cost, gross unrealized gains and losses, allowance of credit losses and fair value of investment securities at March 31, 2026 and December 31, 2025 were as follows (in thousands):

         
Gross
    
Gross
    
Allowance
        
   
Amortized
    
Unrealized
    
Unrealized
    
for Credit
    
Fair
  
March 31, 2026
  
Cost
    
Gains
    
Losses
    
Losses
    
Value
  
Available-for-sale securities:
                              
U.S. agency securities
  
$
52,647
    
$
11
    
$
(3,109
)
  
$
-
    
$
49,549
  
U.S. treasury securities
    
77,625
      
103
      
(2,092
)
    
-
      
75,636
  
Obligations of state and political subdivisions
    
130,743
      
558
      
(7,017
)
    
-
      
124,284
  
Corporate obligations
    
8,829
      
449
      
(238
)
    
-
      
9,040
  
Mortgage-backed securities in government sponsored entities
    
199,046
      
740
      
(10,009
)
    
-
      
189,777
  
Total available-for-sale securities
  
$
468,890
    
$
1,861
    
$
(22,465
)
  
$
-
    
$
448,286
  

December 31, 2025
                              
Available-for-sale securities:
                              
U.S. agency securities
  
$
52,651
    
$
12
    
$
(2,908
)
  
$
-
    
$
49,755
  
U.S. treasury securities
    
84,551
      
225
      
(2,122
)
    
-
      
82,654
  
Obligations of state and political subdivisions
    
120,608
      
1,070
      
(5,792
)
    
-
      
115,886
  
Corporate obligations
    
11,304
      
405
      
(412
)
    
-
      
11,297
  
Mortgage-backed securities in government sponsored entities
    
193,405
      
1,103
      
(9,359
)
    
-
      
185,149
  
Total available-for-sale securities
  
$
462,519
    
$
2,815
    
$
(20,593
)
  
$
-
    
$
444,741
  
Unrealized Losses and Fair Value of Investments
The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time, which individual securities have been in a continuous unrealized loss position, at March 31, 2026 and December 31, 2025 (in thousands). As of March 31, 2026, the Company owned 232 securities whose fair value was less than their cost basis.
March 31, 2026
  
Less than Twelve Months
    
Twelve Months or Greater
    
Total
  
         
Gross
          
Gross
          
Gross
  
   
Fair
    
Unrealized
    
Fair
    
Unrealized
    
Fair
    
Unrealized
  
   
Value
    
Losses
    
Value
    
Losses
    
Value
    
Losses
  
U.S. agency securities
  
$
-
    
$
-
    
$
44,903
    
$
(3,109
)
  
$
44,903
    
$
(3,109
)
U.S. treasury securities
    
-
      
-
      
65,856
      
(2,092
)
    
65,856
      
(2,092
)
Obligations of state and political subdivisions
    
19,111
      
(428
)
    
69,791
      
(6,589
)
    
88,902
      
(7,017
)
Corporate obligations
    
-
      
-
      
4,262
      
(238
)
    
4,262
      
(238
)
Mortgage-backed securities in government sponsored entities
    
46,593
      
(545
)
    
72,682
      
(9,464
)
    
119,275
      
(10,009
)
Total securities
  
$
65,704
    
$
(973
)
  
$
257,494
    
$
(21,492
)
  
$
323,198
    
$
(22,465
)

December 31, 2025
                                    
U.S. agency securities
  
$
-
    
$
-
    
$
45,104
    
$
(2,908
)
  
$
45,104
    
$
(2,908
)
U.S. treasury securities
    
-
      
-
      
72,784
      
(2,122
)
    
72,784
      
(2,122
)
Obligations of states and political subdivisions
    
5,642
      
(98
)
    
72,858
      
(5,694
)
    
78,500
      
(5,792
)
Corporate obligations
    
-
      
-
      
6,588
      
(412
)
    
6,588
      
(412
)
Mortgage-backed securities in government sponsored entities
    
36,858
      
(247
)
    
79,922
      
(9,112
)
    
116,780
      
(9,359
)
 Total securities
  
$
42,500
    
$
(345
)
  
$
277,256
    
$
(20,248
)
  
$
319,756
    
$
(20,593
)
Unrealized Gains (Losses) Related to Equity Securities
The following table presents the net gains (losses) on the Company’s equity investments recognized in earnings during the three month periods ended March 31, 2026 and 2025, and the portion of unrealized gains for the period that relates to equity investments held at March 31, 2026 and 2025 (in thousands):

   
Three Months Ended
  
   
March 31,
  
Equity Securities
  
2026
    
2025
  
Net gains (losses) recognized in equity securities during the period
  
$
19
    
$
(11
 )
Less: Net gains realized on the sale of equity securities during the period
    
-
      
-
  
Net unrealized gains (losses)
  
$
19
    
$
(11
 )
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The amortized cost and fair value of debt securities at March 31, 2026, by contractual maturity, are shown below (in thousands):

   
Amortized
        
   
Cost
    
Fair Value
  
Available-for-sale debt securities:
            
Due in one year or less
  
$
41,226
    
$
40,771
  
Due after one year through five years
    
108,958
      
104,668
  
Due after five years through ten years
    
92,092
      
87,319
  
Due after ten years
    
226,614
      
215,528
  
Total
  
$
468,890
    
$
448,286