Investment (Tables)

3 Months Ended

Mar. 31, 2025

Investment Securities

Unrealized Gain (Loss) on Investments

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Estimated Fair Value
March 31, 2025
Available for Sale:
U.S. treasuries	$	3,862	$	151	$	—	$	—	$	4,013
U.S. government agencies		7,000		—		781		—	$	6,219
Residential mortgage-backed agencies		24,050		8		3,841		—		20,217
Commercial mortgage-backed agencies		36,943		—		8,018		—		28,925
Collateralized mortgage obligations		20,706		—		2,943		—		17,763
Obligations of states and political subdivisions		7,543		2		287		—		7,258
Corporate bonds		1,000				94		—		906
Collateralized debt obligations		18,707		—		4,010		—		14,697
Total available for sale	$	119,811	$	161	$	19,974	$	—	$	99,998
(in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Estimated Fair Value		Allowance for Credit Losses
March 31, 2025
Held to Maturity:
U.S. government agencies	$	68,374	$	—	$	9,483	$	58,891	$	—
Residential mortgage-backed agencies		31,539		25		3,051		28,513		—
Commercial mortgage-backed agencies		21,089		—		5,441		15,648		—
Collateralized mortgage obligations		48,696		—		8,905		39,791		—
Obligations of states and political subdivisions		4,505		188		765		3,928		59
Total held to maturity	$	174,203	$	213	$	27,645	$	146,771	$	59

(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

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
March 31, 2025
Available for Sale:
U.S. government agencies	$	—	$	—	—	$	6,219	$	781	2
Residential mortgage-backed agencies		—		—	—		18,298		3,841	3
Commercial mortgage-backed agencies		1,692		63	1		27,233		7,955	8
Collateralized mortgage obligations		2,905		8	1		14,858		2,935	9
Obligations of states and political subdivisions		1,946		44	2		4,050		243	4
Corporate bonds		—		—	—		906		94	1
Collateralized debt obligations		—		—	—		14,697		4,010	9
Total available for sale	$	6,543	$	115	4	$	86,261	$	19,859	36
	Less than 12 months					12 months or more
(in thousands)	Fair Value		Unrecognized Losses		Number of Investments	Fair Value		Unrecognized Losses		Number of Investments
March 31, 2025
Held to Maturity:
U.S. government agencies	$	—	$	—	—	$	58,891		9,483	9
Residential mortgage-backed agencies		4,459		56	3		20,310		2,995	35
Commercial mortgage-backed agencies		—		—	—		15,648		5,441	2
Collateralized mortgage obligations		—		—	—		39,791		8,905	8
Obligations of states and political subdivisions		—		—	—		2,111		765	1
Total held to maturity	$	4,459	$	56	3	$	136,751	$	27,589	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

	March 31, 2025
(in thousands)	Amortized Cost		Fair Value
Contractual Maturity
Available for Sale:
Due after one year through five years		5,250		5,101
Due after five years through ten years		5,400		5,180
Due after ten years		27,462		22,812
		38,112		33,093
Residential mortgage-backed agencies		24,050		20,217
Commercial mortgage-backed agencies		36,943		28,925
Collateralized mortgage obligations		20,706		17,763
Total available for sale	$	119,811	$	99,998
Held to Maturity:
Due after one year through five years	$	17,050	$	16,317
Due after five years through ten years		36,044		31,322
Due after ten years		19,785		15,180
		72,879		62,819
Residential mortgage-backed agencies		31,539		28,513
Commercial mortgage-backed agencies		21,089		15,648
Collateralized mortgage obligations		48,696		39,791
Total held to maturity	$	174,203	$	146,771