Investment Securities (Tables)

12 Months Ended

Dec. 31, 2024

Investment Securities

Unrealized Gain (Loss) on Investments

(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

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
December 31, 2023
Available for Sale:
U.S. government agencies	$	7,000	$	—	$	966	$	—	$	6,034
Residential mortgage-backed agencies		24,781		—		4,218		—		20,563
Commercial mortgage-backed agencies		36,258		—		7,841		—		28,417
Collateralized mortgage obligations		19,725		—		3,369		—		16,356
Obligations of states and political subdivisions		10,486		15		189		—		10,312
Corporate bonds		1,000		—		222		—		778
Collateralized debt obligations		18,671		—		3,962		—		14,709
Total available for sale	$	117,921	$	15	$	20,767	$	—	$	97,169
(in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Estimated Fair Value		Allowance for Credit Losses
December 31, 2023
Held to Maturity:
U.S. treasuries	$	37,462	$	—	$	243	$	37,219	$	—
U.S. government agencies		68,014		—		10,985		57,029		—
Residential mortgage-backed agencies		29,588		42		2,913		26,717		—
Commercial mortgage-backed agencies		21,413		—		5,361		16,052		—
Collateralized mortgage obligations		53,261		—		9,973		43,288		—
Obligations of states and political subdivisions		4,604		177		671		4,110		45
Total held to maturity	$	214,342	$	219	$	30,146	$	184,415	$	45

Proceeds from Sales and Realized Gains and Losses

(in thousands)	2024		2023
Proceeds	$	—	$	20,249
Gross realized losses		—		4,214

Gross Unrealized 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
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

	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, 2023
Available for Sale:
U.S. government agencies	$	—	$	—	—	$	6,034	$	966	2
Residential mortgage-backed agencies		—		—	—		20,563		4,218	3
Commercial mortgage-backed agencies		—		—	—		28,417		7,841	8
Collateralized mortgage obligations		—		—	—		16,356		3,369	9
Obligations of states and political subdivisions		1,145		20	2		6,668		169	3
Corporate Bonds		—		—	—		778		222	1
Collateralized debt obligations		—		—	—		14,709		3,962	9
Total available for sale	$	1,145	$	20	2	$	93,525	$	20,747	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, 2023
Held to Maturity:
U.S. treasuries	$	—	$	—	—	$	37,219	$	243	4
U.S. government agencies		—		—	—		57,029		10,985	9
Residential mortgage-backed agencies		—		—	—		22,613		2,913	35
Commercial mortgage-backed agencies		—		—	—		16,052		5,361	2
Collateralized mortgage obligations		—		—	—		43,288		9,973	8
Obligations of states and political subdivisions		—		—	—		2,205		671	1
Total held to maturity	$	—	$	—	—	$	178,406	$	30,146	59

Amortized Cost and Fair Values Classified by Contractual Maturity Date

(in thousands)	Amortized Cost		Fair Value
Contractual Maturity
Available for sale:
Due after one year through five years	$	5,250	$	5,052
Due after five years through ten years		3,394		3,216
Due after ten years		24,575		19,670
		33,219		27,938
Residential mortgage-backed agencies		24,621		20,196
Commercial mortgage-backed agencies		37,205		28,634
Collateralized mortgage obligations		21,069		17,726
Total available for sale	$	116,114	$	94,494
Held to Maturity:
Due after one year through five years	$	12,500	$	11,990
Due after five years through ten years		40,546		34,362
Due after ten years		19,766		14,742
		72,812		61,094
Residential mortgage-backed agencies		32,171		28,611
Commercial mortgage-backed agencies		21,134		15,340
Collateralized mortgage obligations		49,439		39,715
Total held to maturity	$	175,556	$	144,760