Investments (Tables)

9 Months Ended

Sep. 30, 2025

Investments

Unrealized Gain (Loss) on Investments

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
September 30, 2025
Available for Sale:
U.S. government agencies	$	2,000	$	—	$	624	$	—	$	1,376
Residential mortgage-backed agencies		24,273		30		3,384		—		20,919
Commercial mortgage-backed agencies		37,988		—		7,943		—		30,045
Collateralized mortgage obligations		30,615		28		2,528		—		28,115
Obligations of states and political subdivisions		8,556		25		110		—		8,471
Corporate bonds		1,000		—		85		—		915
Collateralized debt obligations		18,759		—		3,540		—		15,219
Total available for sale	$	123,191	$	83	$	18,214	$	—	$	105,060

(in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Estimated Fair Value		Allowance for Credit Losses
September 30, 2025
Held to Maturity:
U.S. government agencies	$	68,521	$	—	$	8,337	$	60,184	$	—
Residential mortgage-backed agencies		32,834		83		2,626		30,291		—
Commercial mortgage-backed agencies		20,995		—		5,238		15,757		—
Collateralized mortgage obligations		46,171		—		7,300		38,871		—
Obligations of states and political subdivisions		4,399		219		591		4,027		102
Total held to maturity	$	172,920	$	302	$	24,092	$	149,130	$	102

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
December 31, 2024
Available for Sale:
U.S. government agencies	$	7,000	$	—	$	885	$	—	$	6,115
Residential mortgage-backed agencies		24,621		—		4,425		—		20,196
Commercial mortgage-backed agencies		37,205		—		8,571		—		28,634
Collateralized mortgage obligations		21,069		—		3,343		—		17,726
Obligations of states and political subdivisions		6,533		—		324		—		6,209
Corporate bonds		1,000		—		104		—		896
Collateralized debt obligations		18,686		—		3,968		—		14,718
Total available for sale	$	116,114	$	—	$	21,620	$	—	$	94,494
(in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Estimated Fair Value		Allowance for Credit Losses
December 31, 2024
Held to Maturity:
U.S. government agencies	$	68,301	$	—	$	11,192	$	57,109	$	—
Residential mortgage-backed agencies		32,171		1		3,561		28,611		—
Commercial mortgage-backed agencies		21,134		—		5,794		15,340		—
Collateralized mortgage obligations		49,439		—		9,724		39,715		—
Obligations of states and political subdivisions		4,511		177		703		3,985		59
Total held to maturity	$	175,556	$	178	$	30,974	$	144,760	$	59

Realized Gains and Losses of Available for Sale

	Nine Months Ended				Three Months Ended
	September 30,				September 30,
(in thousands)	2025		2024		2025		2024
Proceeds	$	8,965	$	—	$	8,965	$	—
Realized gains		203		—		203		—
Realized losses		106		—		106		—

Gross Unrealized and Unrecognized Losses and Fair Values of Securities

	Less than 12 months					12 months or more
(in thousands)	Fair Value		Unrealized Losses		Number of Investments	Fair Value		Unrealized Losses		Number of Investments
September 30, 2025
Available for Sale:
U.S. government agencies	$	—	$	—	—	$	1,376	$	624	1
Residential mortgage-backed agencies		—		—	—		17,610		3,384	3
Commercial mortgage-backed agencies		3,092		126	2		26,953		7,817	8
Collateralized mortgage obligations		8,955		45	1		14,479		2,483	9
Obligations of states and political subdivisions		—		—	—		4,183		110	4
Corporate bonds		—		—	—		915		85	1
Collateralized debt obligations		—		—	—		15,219		3,540	9
Total available for sale	$	12,047	$	171	3	$	80,735	$	18,043	35
	Less than 12 months					12 months or more
(in thousands)	Fair Value		Unrecognized Losses		Number of Investments	Fair Value		Unrecognized Losses		Number of Investments
September 30, 2025
Held to Maturity:
U.S. government agencies	$	—	$	—	—	$	60,184		8,337	9
Residential mortgage-backed agencies		2,247		8	2		19,718		2,618	35
Commercial mortgage-backed agencies		—		—	—		15,757		5,238	2
Collateralized mortgage obligations		—		—	—		38,871		7,300	8
Obligations of states and political subdivisions		—		—	—		2,269		591	1
Total held to maturity	$	2,247	$	8	2	$	136,799	$	24,084	55

	Less than 12 months					12 months or more
(in thousands)	Fair Value		Unrealized Losses		Number of Investments	Fair Value		Unrealized Losses		Number of Investments
December 31, 2024
Available for Sale:
U.S. government agencies	$	—	$	—	—	$	6,115	$	885	2
Residential mortgage-backed agencies		1,974		18	1		18,222		4,407	3
Commercial mortgage-backed agencies		1,688		59	1		26,946		8,512	8
Collateralized mortgage obligations		2,892		50	1		14,834		3,293	9
Obligations of states and political subdivisions		1,224		18	2		3,742		306	3
Corporate Bonds		—		—	—		896		104	1
Collateralized debt obligations		—		—	—		14,718		3,968	9
Total available for sale	$	7,778	$	145	5	$	85,473	$	21,475	35
	Less than 12 months					12 months or more
(in thousands)	Fair Value		Unrecognized Losses		Number of Investments	Fair Value		Unrecognized Losses		Number of Investments
December 31, 2024
Held to Maturity:
U.S. government agencies	$	—	$	—	—	$	57,109	$	11,192	9
Residential mortgage-backed agencies		8,291		132	5		20,243		3,429	35
Commercial mortgage-backed agencies		—		—	—		15,340		5,794	2
Collateralized mortgage obligations		—		—	—		39,715		9,724	8
Obligations of states and political subdivisions		—		—	—		2,179		703	1
Total held to maturity	$	8,291	$	132	5	$	134,586	$	30,842	55

Amortized Cost and Fair Values Classified by Contractual Maturity Date

	September 30, 2025
(in thousands)	Amortized Cost		Fair Value
Contractual Maturity
Available for Sale:
Due in one year or less	$	2,241	$	2,251
Due after five years through ten years		4,418		4,329
Due after ten years		23,656		19,401
		30,315		25,981
Residential mortgage-backed agencies		24,273		20,919
Commercial mortgage-backed agencies		37,988		30,045
Collateralized mortgage obligations		30,615		28,115
Total available for sale	$	123,191	$	105,060
Held to Maturity:
Due after one year through five years	$	17,050	$	16,542
Due after five years through ten years		36,052		32,102
Due after ten years		19,818		15,567
		72,920		64,211
Residential mortgage-backed agencies		32,834		30,291
Commercial mortgage-backed agencies		20,995		15,757
Collateralized mortgage obligations		46,171		38,871
Total held to maturity	$	172,920	$	149,130