Quarterly report [Sections 13 or 15(d)]

Securities (Tables)

v3.26.3
Securities (Tables)
 9 Months Ended
Sep. 30, 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
September 30, 2026
U.S. government agency securities(1)
$ 8,885  $ -  $ (364) $ 8,521 
U.S. treasury securities 1,997  -  (21) 1,976 
Collateralized mortgage obligations and residential mortgage-backed securities 115,197  -  (22,622) 92,575 
Municipal securities 235,209  -  (60,120) 175,089 
Collateralized debt obligations 2,134  -  (426) 1,708 
Total securities available-for-sale $ 363,422  $ -  $ (83,553) $ 279,869 

(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 September 30, 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
September 30, 2026 Cost
Basis		 Estimated
Fair
Value
Due in one year or less $ 3,000  $ 2,915 
Due from one to five years 12,407  11,720 
Due from five to ten years 54,381  42,874 
Due over ten years 178,437  129,785 
Collateralized mortgage obligations and residential mortgage-backed securities 115,197  92,575 
Total $ 363,422  $ 279,869 
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, July 1, 2026 $ (41,532)
Period change (21,988)
Ending balance, September 30, 2026 $ (63,520)
(Dollars in thousands)
Unrealized loss
Beginning balance, July 1, 2025 $ (57,560)
Period change 8,294 
Ending balance, September 30, 2025 $ (49,266)
(Dollars in thousands)
Unrealized loss
Beginning Balance, January 1, 2026 $ (41,662)
Period change (21,858)
Ending Balance, September 30, 2026 $ (63,520)
(Dollars in thousands)
Unrealized loss
Beginning Balance, January 1, 2025 $ (58,084)
Period change 8,818 
Ending balance, September 30, 2025 $ (49,266)
Schedule of Unrealized Losses on Investments
Securities with unrealized losses not recognized in income at September 30, 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
September 30, 2026
U.S. government agency securities $ -  $ -  $ 8,521  $ (364) $ 8,521  $ (364) 100.0 %
U.S. government treasuries 1,976  (21) -  -  1,976  (21) 100.0 %
Collateralized mortgage obligations and residential mortgage-backed securities 1,478  (418) 91,097  (22,204) 92,575  (22,622) 100.0 %
Municipal securities -  -  175,089  (60,120) 175,089  (60,120) 100.0 %
Collateralized debt obligations -  -  1,708  (426) 1,708  (426) 100.0 %
Total $ 3,454  $ (439) $ 276,415  $ (83,114) $ 279,869  $ (83,553) 100.0 %
Number of securities 1 371 372
(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