The amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:


	As of March 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. treasuries	$	4,997	$	—	$	(68	)	$	4,929
U.S. government agency securities - government-sponsored enterprises		2,500		—		(189	)		2,311
Municipal securities		46,882		187		(4,083	)		42,986
Residential mortgage-backed securities - government issued		168,591		502		(2,188	)		166,905
Residential mortgage-backed securities - government-sponsored enterprises		168,694		457		(7,490	)		161,661
Commercial mortgage-backed securities - government issued		2,362		—		(309	)		2,053
Commercial mortgage-backed securities - government-sponsored enterprises		42,100		43		(2,663	)		39,480
	$	436,126	$	1,189	$	(16,990	)	$	420,325


	As of December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. treasuries	$	4,995	$	—	$	(94	)	$	4,901
U.S. government agency securities - government-sponsored enterprises		2,500		—		(186	)		2,314
Municipal securities		46,993		328		(3,429	)		43,892
Residential mortgage-backed securities - government issued		166,933		1,279		(1,577	)		166,635
Residential mortgage-backed securities - government-sponsored enterprises		168,544		929		(6,930	)		162,543
Commercial mortgage-backed securities - government issued		2,416		—		(302	)		2,114
Commercial mortgage-backed securities - government-sponsored enterprises		42,326		71		(2,709	)		39,688
	$	434,707	$	2,607	$	(15,227	)	$	422,087

The amortized cost and fair value of securities held-to-maturity and the corresponding amounts of gross unrecognized gains and losses were as follows:


	As of March 31, 2026
	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
Municipal securities	$	1,858	$	—	$	(3	)	$	1,855
Residential mortgage-backed securities - government issued		481		—		(26	)		455
Residential mortgage-backed securities - government-sponsored enterprises		457		—		(19	)		438
Commercial mortgage-backed securities - government-sponsored enterprises		2,001		—		(26	)		1,975
	$	4,797	$	—	$	(74	)	$	4,723


	As of December 31, 2025
	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
Municipal securities	$	2,144	$	—	$	(3	)	$	2,141
Residential mortgage-backed securities - government issued		546		—		(26	)		520
Residential mortgage-backed securities - government-sponsored enterprises		518		—		(18	)		500
Commercial mortgage-backed securities - government-sponsored enterprises		2,002		—		(22	)		1,980
	$	5,210	$	—	$	(69	)	$	5,141

U.S. Treasuries contain treasury bonds issued by the United States Treasury. U.S. government agency securities - government-sponsored enterprises represent securities issued by Federal National Mortgage Association (“FNMA”) and the Small Business Administration ("SBA"). Municipal securities include securities issued by various municipalities and are primarily general obligation bonds that are primarily tax-exempt. Residential and commercial mortgage-backed securities - government issued represent securities guaranteed by the Government National Mortgage Association. Residential and commercial mortgage-backed securities - government-sponsored enterprises include securities guaranteed by the Federal Home Loan Mortgage Corporation, FNMA, and the FHLB. The Corporation sold no available-for-sale securities during the three months ended March 31, 2026 and 2025.

At March 31, 2026 and December 31, 2025, securities with a fair value of $37.3 million and $38.8 million, respectively, were pledged to secure various obligations, including interest rate swap contracts and municipal deposits.

The amortized cost and fair value of securities by contractual maturity at March 31, 2026 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.


	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In Thousands)
Due in one year or less	$	5,929	$	5,860	$	460	$	460
Due in one year through five years		12,875		12,349		1,398		1,395
Due in five through ten years		10,757		9,991		—		—
Due in over ten years		24,818		22,026		—		—
		54,379		50,226		1,858		1,855
Residential mortgage-backed securities		337,285		328,566		938		893
Commercial mortgage-backed securities		44,462		41,533		2,001		1,975
	$	436,126	$	420,325	$	4,797	$	4,723

The tables below show the Corporation’s gross unrealized losses and fair value of available-for-sale investments aggregated by investment category and length of time that individual investments were in a continuous loss position at March 31, 2026 and December 31, 2025. At March 31, 2026, the Corporation held 188 available-for-sale securities that were in an unrealized loss position, 147 of which have been in a continuous unrealized loss position for twelve months or greater.

The Corporation has not specifically identified available-for-sale securities in a loss position that it intends to sell in the near term and does not believe that it will be required to sell any such securities. The Corporation reviews its securities on a quarterly basis to assess declines in fair value for credit losses. Consideration is given to such factors as the credit rating of the borrower, market conditions such as current interest rates, any adverse conditions specific to the security, and delinquency status on contractual payments. For the three months ended March 31, 2026 and 2025, management concluded that in all instances securities with fair value less than carrying value was due to market factors; thus, no credit loss provision was required.

A summary of unrealized loss information for securities available-for-sale, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:


	As of March 31, 2026
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Available-for-sale:
U.S. treasuries	$	—	$	—	$	4,929	$	68	$	4,929	$	68
U.S. government agency securities - government- sponsored enterprises		—		—		2,311		189		2,311		189
Municipal securities		4,002		1,038		29,497		3,045		33,499		4,083
Residential mortgage-backed securities - government issued		76,384		650		10,574		1,538		86,958		2,188
Residential mortgage-backed securities - government-sponsored enterprises		33,730		369		73,857		7,121		107,587		7,490
Commercial mortgage-backed securities - government issued		—		—		2,053		309		2,053		309
Commercial mortgage-backed securities - government-sponsored enterprises		2,823		147		35,647		2,516		38,470		2,663
	$	116,939	$	2,204	$	158,868	$	14,786	$	275,807	$	16,990


	As of December 31, 2025
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Available-for-sale:
U.S. treasuries	$	—	$	—	$	4,901	$	94	$	4,901	$	94
U.S. government agency securities - government- sponsored enterprises		—		—		2,314		186		2,314		186
Municipal securities		—		—		34,660		3,429		34,660		3,429
Residential mortgage-backed securities - government issued		25,970		85		17,454		1,492		43,424		1,577
Residential mortgage-backed securities - government-sponsored enterprises		14,002		73		72,481		6,857		86,483		6,930
Commercial mortgage-backed securities - government issued		—		—		2,114		302		2,114		302
Commercial mortgage-backed securities - government-sponsored enterprises		5,971		44		27,575		2,665		33,546		2,709
	$	45,943	$	202	$	161,499	$	15,025	$	207,442	$	15,227

The tables below show the Corporation’s gross unrealized losses and fair value of held-to-maturity investments, aggregated by investment category and length of time that individual investments were in a continuous loss position at March 31, 2026 and December 31, 2025. At March 31, 2026, the Corporation held 19 held-to-maturity securities that were in an unrealized loss position, 15 of which have been in a continuous loss position for twelve months or greater. Management assesses held-to-maturity securities for credit losses on a quarterly basis. The assessment includes review of credit ratings, identification of delinquency and evaluation of market factors. Based on this analysis, management concludes the decline in fair value is due to market factors, specifically changes in interest rates. Accordingly, no credit loss provision was recorded in the unaudited Consolidated Statements of Income for the three months ended March 31, 2026 and 2025.

A summary of unrecognized loss information for securities held-to-maturity, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:


	As of March 31, 2026
	Less than 12 Months		12 Months or Longer		Total
	Fair Value	Unrecognized Losses	Fair Value	Unrecognized Losses	Fair Value	Unrecognized Losses
	(In Thousands)
Held-to-maturity:
Municipal securities	$1,855	$3	$—	$—	$1,855	$3
Residential mortgage-backed securities - government issued	—	—	455	26	455	26
Residential mortgage-backed securities - government-sponsored enterprises	—	—	438	19	438	19
Commercial mortgage-backed securities - government-sponsored enterprises	—	—	1,975	26	1,975	26
	$1,855	$3	$2,868	$71	$4,723	$74


	As of December 31, 2025
	Less than 12 Months		12 Months or Longer		Total
	Fair Value	Unrecognized Losses	Fair Value	Unrecognized Losses	Fair Value	Unrecognized Losses
	(In Thousands)
Held-to-maturity:
Municipal securities	$959	$1	$680	$2	$1,639	$3
Residential mortgage-backed securities - government issued	—	—	520	26	520	26
Residential mortgage-backed securities - government-sponsored enterprises	—	—	500	18	500	18
Commercial mortgage-backed securities - government-sponsored enterprises	—	—	1,980	22	1,980	22
	$959	$1	$3,680	$68	$4,639	$69