Quarterly report [Sections 13 or 15(d)]

Securities (Tables)

v3.26.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:
(Dollars in thousands)
Cost
Basis		 Gross
Unrealized
Gains		 Gross
Unrealized
Losses		 Estimated
Fair
Value
March 31, 2026
U.S. government agency securities(1) $ 8,884  $ -  $ (401) $ 8,483 
Collateralized mortgage obligations and residential mortgage-backed securities 120,947  -  (19,045) 101,902 
Municipal securities 235,846  -  (40,436) 195,410 
Collateralized debt obligations 2,138  -  (247) 1,891 
Total securities available-for-sale $ 367,815  $ -  $ (60,129) $ 307,686 

(1) Includes securities issued or backed by the U.S. government and its agencies and U.S. government sponsored entities.
(Dollars in thousands)
Cost
Basis		 Gross
Unrealized
Gains		 Gross
Unrealized
Losses		 Estimated
Fair
Value
December 31, 2025
U.S. government agency securities(1) $ 8,884  $ -  $ (418) $ 8,466 
Collateralized mortgage obligations and residential mortgage-backed securities 123,833  -  (19,168) 104,665 
Municipal securities 236,168  2  (34,956) 201,214 
Collateralized debt obligations 2,141  -  (259) 1,882 
Total securities available-for-sale $ 371,026  $ 2  $ (54,801) $ 316,227 
(1) Includes securities issued or backed by the U.S. government and its agencies and U.S. government sponsored entities.
Schedule of Investments Classified by Contractual Maturity Date
The cost basis and estimated fair value of available-for-sale debt securities at March 31, 2026, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately.
(Dollars in thousands)
Available-for-sale
March 31, 2026 Cost
Basis		 Estimated
Fair
Value
Due in one year or less $ -  $ - 
Due from one to five years 13,041  12,377 
Due from five to ten years 44,261  38,631 
Due over ten years 189,566  154,776 
Collateralized mortgage obligations and residential mortgage-backed securities 120,947  101,902 
Total $ 367,815  $ 307,686 
Schedule of Realized Gain (Loss)
Sales of available-for-sale securities were as follows for the quarter ended:
Three Months Ended March 31
2026 2025
Proceeds $ -  $ - 
Gross gains -  - 
Gross losses -  - 
Schedule of Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
(Dollars in thousands)
Unrealized loss
Beginning Balance, January 1, 2026 $ (41,662)
Period change (4,051)
Ending Balance, March 31, 2026 $ (45,713)
(Dollars in thousands)
Unrealized loss
Beginning Balance, January 1, 2025 $ (58,084)
Current period change (160)
Ending balance, March 31, 2025 $ (58,244)
Schedule of Unrealized Losses on Investments
Securities with unrealized losses not recognized in income at March 31, 2026, and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
(Dollars in thousands)
Less than 12 months 12 months or longer Total
Estimated
Fair
Value		 Unrealized
Losses 		Estimated
Fair
Value		 Unrealized
Losses		 Estimated
Fair
Value		 Unrealized
Losses		 Percentage of
Total Portfolio
in Loss Position
March 31, 2026
U.S. government agency securities $ -  $ -  $ 8,483  $ (401) $ 8,483  $ (401) 100.0 %
Collateralized mortgage obligations and residential mortgage-backed securities -  -  101,902  (19,045) 101,902  (19,045) 100.0 %
Municipal securities 1,819  (55) 193,591  (40,381) 195,410  (40,436) 100.0 %
Collateralized debt obligations -  -  1,891  (247) 1,891  (247) 100.0 %
Total $ 1,819  $ (55) $ 305,867  $ (60,074) $ 307,686  $ (60,129) 100.0 %
Number of securities 3 367 370
(Dollars in thousands)
Less than 12 months 12 months or longer Total
Estimated
Fair
Value		 Unrealized
Losses		 Estimated
Fair
Value		 Unrealized
Losses		 Estimated
Fair
Value		 Unrealized
Losses		 Percentage of
Total Portfolio
in Loss Position
December 31, 2025
U.S. government agency securities $ -  $ -  $ 8,466  $ (418) $ 8,466  $ (418) 100.0 %
Collateralized mortgage obligations and residential mortgage-backed securities -  -  104,665  (19,168) 104,665  (19,168) 100.0 %
Municipal securities -  -  200,469  (34,956) 200,469  (34,956) 99.6 %
Collateralized debt obligations -  -  1,882  (259) 1,882  (259) 100.0 %
Total $ -  $ -  $ 315,482  $ (54,801) $ 315,482  $ (54,801) 99.8 %
Number of securities - 369 369