Securities (Tables)

6 Months Ended

Jun. 30, 2025

Securities [Abstract]

Amortized Cost and Fair Value, with Gross Unrealized Gains and Losses of Securities Available-for-Sale

The amortized cost and fair value, with gross unrealized gains and losses, of securities available-for-sale as of the dates indicated were as follows:

	June 30, 2025
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
(dollars in thousands)	Cost		Gains		(Losses)			Value
U.S. Treasury securities	$	4,021	$	-	$	(66	)	$	3,955
Obligations of U.S. Government agencies		39,198		122		(465	)		38,855
Obligations of state and political subdivisions		55,432		-		(7,792	)		47,640
Mortgage-backed securities		105,012		107		(8,518	)		96,601
Corporate bonds and other securities		29,903		9		(2,586	)		27,326
	$	233,566	$	238	$	(19,427	)	$	214,377

	December 31, 2024
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
(dollars in thousands)	Cost		Gains		(Losses)			Value
U.S. Treasury securities	$	4,037	$	-	$	(120	)	$	3,917
Obligations of U.S. Government agencies		41,388		245		(342	)		41,291
Obligations of state and political subdivisions		57,710		-		(8,075	)		49,635
Mortgage-backed securities		105,492		2		(10,656	)		94,838
Corporate bonds and other securities		31,142		22		(2,762	)		28,402
	$	239,769	$	269	$	(21,955	)	$	218,083

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at June 30, 2025 and December 31, 2024, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties.

	June 30, 2025
	Amortized			Fair
(dollars in thousands)	Cost			Value
Due in one year or less		$	4,923		$	4,851
Due after one year through five years			17,046			16,245
Due after five through ten years			60,506			54,869
Due after ten years			151,091			138,412
		$	233,566		$	214,377

	December 31, 2024
	Amortized		Fair
(dollars in thousands)	Cost		Value
Due in one year or less	$	2,008	$	1,982
Due after one year through five years		20,931		19,608
Due after five through ten years		58,428		51,576
Due after ten years		158,402		144,917
	$	239,769	$	218,083

Net Realized Gains or Losses on Sale of Investments

The following table shows realized gains or losses on the sale of investment securities during the three and six months ended June 30, 2025 and 2024, respectively.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(dollars in thousands)	2025			2024			2025				2024
Realized gains on sales of securities		$	-		$	-		$	-			$	-
Realized losses on sales of securities			-			-			(176	)			-
Net realized loss		$	-		$	-		$	(176	)		$	-

Available-for-Sale Securities, Continuous Unrealized Loss Position

The following tables show the gross unrealized losses and fair value of the Company’s investments with unrealized losses for which an ACL has not been recorded as of June 30, 2025 and December 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of the dates indicated:

	June 30, 2025
	Less than 12 months				12 months or more				Total
	Gross				Gross				Gross				Number
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair		of
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value		Securities
U.S. Treasury securities	$	-	$	-	$	66	$	3,955	$	66	$	3,955		1
Obligations of U.S. Government agencies		217		17,180		248		10,810		465		27,990		37
Obligations of state and political subdivisions		74		914		7,718		46,726		7,792		47,640		41
Mortgage-backed securities		318		14,910		8,200		69,736		8,518		84,646		44
Corporate bonds and other securities		174		2,729		2,412		23,087		2,586		25,816		26
Total securities available-for-sale	$	783	$	35,733	$	18,644	$	154,314	$	19,427	$	190,047		149

	December 31, 2024
	Less than 12 months				12 months or more				Total
	Gross				Gross				Gross				Number
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair		of
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value		Securities
U.S. Treasury securities	$	-	$	-	$	120	$	3,917	$	120	$	3,917		1
Obligations of U.S. Government agencies		69		11,147		273		13,155		342		24,302		32
Obligations of state and political subdivisions		14		975		8,061		48,660		8,075		49,635		43
Mortgage-backed securities		621		24,568		10,035		69,827		10,656		94,395		46
Corporate bonds and other securities		209		2,934		2,553		23,947		2,762		26,881		26
Total securities available-for-sale	$	913	$	39,624	$	21,042	$	159,506	$	21,955	$	199,130		148