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Securities (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The following tables summarize securities AFS and securities HTM as of June 30, 2024 and December 31, 2023.
June 30, 2024
 AmortizedGross UnrealizedFair
(in thousands)CostGainsLossesValue
Securities available-for-sale    
U.S. Government-sponsored agencies$88,694 $505 $(1,453)$87,746 
Municipal securities68,057 31 (3,676)64,412 
Agency mortgage-backed securities - residential 1
262,758 162 (32,875)230,045 
Agency mortgage-backed securities - commercial37,986 202 (1,297)36,891 
Private label mortgage-backed securities - residential26,709 86 (1,164)25,631 
Asset-backed securities8,383 47 (1)8,429 
Corporate securities37,070 106 (1,758)35,418 
Total available-for-sale$529,657 $1,139 $(42,224)$488,572 
 December 31, 2023
 AmortizedGross UnrealizedFair
(in thousands)CostGainsLossesValue
Securities available-for-sale    
U.S. Government-sponsored agencies$96,404 $402 $(1,629)$95,177 
Municipal securities69,494 356 (1,404)68,446 
Agency mortgage-backed securities - residential 1
237,798 101 (31,250)206,649 
Agency mortgage-backed securities - commercial40,215 9 (1,339)38,885 
Private label mortgage-backed securities - residential21,742 144 (1,107)20,779 
Asset-backed securities
8,071 17 (7)8,081 
Corporate securities39,591 25 (2,778)36,838 
Total available-for-sale$513,315 $1,054 $(39,514)$474,855 
Schedule Of Held-To-Maturity Securities Reconciliation
 June 30, 2024
 Amortized CostGross UnrealizedFair ValueAllowance for Credit LossesNet Carrying Value
(in thousands)GainsLosses
Securities held-to-maturity    
Municipal securities$13,371 $— $(1,045)$12,326 $(3)$13,368 
Mortgage-backed securities - residential213,440 15 (18,118)195,337 — 213,440 
Mortgage-backed securities - commercial5,738 — (1,039)4,699 — 5,738 
Corporate securities38,029 — (2,961)35,068 (226)37,803 
Total held-to-maturity$270,578 $15 $(23,163)$247,430 $(229)$270,349 

1 Includes $0.3 million of additional premium related to terminated interest rate swaps associated with agency mortgage-backed securities - residential as of June 30, 2024.
 December 31, 2023
 AmortizedGross UnrealizedFairAllowance for Credit LossesNet Carrying Value
(in thousands)CostGainsLossesValue
Securities held-to-maturity    
Municipal securities$13,892 $1 $(853)$13,040 $(3)$13,889 
Agency mortgage-backed securities - residential166,750 4 (14,112)152,642 — $166,750 
Agency mortgage-backed securities - commercial5,767 — (1,246)4,521 — $5,767 
Corporate securities41,037 — (3,668)37,369 (290)$40,747 
Total held-to-maturity$227,446 $5 $(19,879)$207,572 $(293)$227,153 
1 Includes $0.4 million of additional premium related to terminated interest rate swaps associated with agency mortgage-backed securities - residential as of December 31, 2023.
Available-for-sale Securities
The carrying value of securities at June 30, 2024 is shown below by their contractual maturity date. Actual maturities will differ because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 Available-for-Sale
(in thousands)Amortized
Cost		Fair
Value
Within one year$10,001 $9,825 
One to five years21,133 21,530 
Five to ten years72,660 70,261 
After ten years90,027 85,960 
 193,821 187,576 
Agency mortgage-backed securities - residential262,758 230,045 
Agency mortgage-backed securities - commercial37,986 36,891 
Private label mortgage-backed securities - residential26,709 25,631 
Asset-backed securities8,383 8,429 
Total$529,657 $488,572 
Held-to-maturity Securities
 Held-to-Maturity
(in thousands)Amortized
Cost		Fair
Value
Within one year$1,005 $995 
One to five years12,611 12,029 
Five to ten years34,278 31,345 
After ten years3,506 3,025 
51,400 47,394 
Agency mortgage-backed securities - residential213,440 195,337 
Agency mortgage-backed securities - commercial5,738 4,699 
Total$270,578 $247,430 
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following tables show the securities portfolio’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2024 and December 31, 2023.
 June 30, 2024
 Less Than 12 Months12 Months or LongerTotal
(in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Securities available-for-sale      
U.S. Government-sponsored agencies$22,285 $(97)$19,514 $(1,356)$41,799 $(1,453)
Municipal securities4,452 (195)54,022 (3,481)58,474 (3,676)
Agency mortgage-backed securities- residential27,981 (137)181,940 (32,738)209,921 (32,875)
Agency mortgage-backed securities- commercial— — 13,026 (1,297)13,026 (1,297)
Private label mortgage-backed securities - residential4,924 (32)11,387 (1,132)16,311 (1,164)
     Asset-backed securities1,348 (1)— — 1,348 (1)
Corporate securities4,625 (375)22,650 (1,383)27,275 (1,758)
Total$65,615 $(837)$302,539 $(41,387)$368,154 $(42,224)




 December 31, 2023
 Less Than 12 Months12 Months or LongerTotal
(in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Securities available-for-sale      
U.S. Government-sponsored agencies$41,934 $(161)$24,579 $(1,468)$66,513 $(1,629)
Municipal securities2,399 (103)36,193 (1,301)38,592 (1,404)
Agency mortgage-backed securities - residential
1,089 (5)194,095 (31,245)195,184 (31,250)
Agency mortgage-backed securities - commercial21,561 (50)14,217 (1,289)35,778 (1,339)
Private label mortgage-backed securities - residential3,567 (29)9,114 (1,078)12,681 (1,107)
Asset-backed securities
1,654 (7)— — 1,654 (7)
Corporate securities1,680 (365)24,587 (2,413)26,267 (2,778)
Total$73,884 $(720)$302,785 $(38,794)$376,669 $(39,514)
The following tables summarize ratings for the Company’s HTM portfolio as of June 30, 2024 and December 31, 2023.

June 30, 2024
Held-to-Maturity
(in thousands)Municipal SecuritiesMortgage-Backed Securities - ResidentialMortgage-Backed Securities - CommercialCorporate SecuritiesTotal
AAA equivalent - agency$— $213,440 $5,738 $— $219,178 
Aa1/AA+9,400 — — — 9,400 
Aa2/AA2,178 — — — 2,178 
A1/A+1,793 — — — 1,793 
A2/A— — — 5,000 5,000 
A3/A-— — — 4,504 4,504 
Baa1/BBB+— — — 8,500 8,500 
Baa2/BBB— — — 8,500 8,500 
Baa3/BBB-— — — 9,525 9,525 
Ba1/BB+— — — 2,000 2,000 
   Total$13,371 $213,440 $5,738 $38,029 $270,578 


December 31, 2023
Held-to-Maturity
(in thousands)Municipal SecuritiesMortgage-Backed Securities - ResidentialMortgage-Backed Securities - CommercialCorporate SecuritiesTotal
AAA equivalent - agency$— $166,750 $5,767 $— $172,517 
Aa1/AA+9,917 — — — 9,917 
Aa2/AA1,538 — — — 1,538 
A1/A+1,794 — — — 1,794 
A2/A643 — — 5,000 5,643 
A3/A-— — — 4,509 4,509 
Baa1/BBB+— — — 8,500 8,500 
Baa2/BBB— — — 8,500 8,500 
Baa3/BBB-— — — 12,528 12,528 
Ba1/BB+— — — 2,000 2,000 
   Total$13,892 $166,750 $5,767 $41,037 $227,446 
Schedule of Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive loss, included in shareholders' equity, for the six months ended June 30, 2024 and 2023, respectively, are presented in the table below.
(in thousands)Unrealized Losses On Debt SecuritiesUnrealized Losses On Debt Securities Transferred From Available-For-Sale To Held-To-MaturityCash Flow HedgesTotal
Balance, January 1, 2024$(30,174)$(2,939)$3,738 $(29,375)
Other comprehensive (loss) income before reclassifications from accumulated other comprehensive loss before tax(2,625)— 640 (1,985)
Reclassifications from accumulated other comprehensive loss to earnings before tax— 422 — 422 
Other comprehensive (loss) gain before tax(2,625)422 640 (1,563)
Income tax (benefit) provision(601)103 147 (351)
Other comprehensive (loss) gain - net of tax(2,024)319 493 (1,212)
Balance, June 30, 2024$(32,198)$(2,620)$4,231 $(30,587)
Balance, January 1, 2023$(35,831)$(3,519)$5,714 $(33,636)
Other comprehensive income (loss) before reclassifications from accumulated other comprehensive loss before tax302 — (76)226 
Reclassifications from accumulated other comprehensive loss to earnings before tax— 364— 364 
Other comprehensive gain (loss) before tax302 364 (76)590 
Income tax provision (benefit)63 95 (18)140 
Other comprehensive income (loss) - net of tax239 269 (58)450 
Balance, June 30, 2023$(35,592)$(3,250)$5,656 $(33,186)

The components of accumulated other comprehensive loss, included in stockholders' equity, for the three months ended June 30, 2024 and 2023, respectively, are presented in the table below.
(in thousands)Unrealized Losses On Debt SecuritiesUnrealized Losses On Debt Securities Transferred From Available-For-Sale To Held-To-MaturityCash Flow HedgesTotal
Balance, April 1, 2024$(31,773)$(2,762)$4,433 $(30,102)
Other comprehensive loss before reclassifications from accumulated other comprehensive loss before tax(551)— (262)(813)
Reclassifications from accumulated other comprehensive loss to earnings before tax— 188 188 
Other comprehensive (loss) gain before tax(551)188 (262)(625)
Income tax (benefit) provision (126)46 (60)(140)
Other comprehensive (loss) income - net of tax(425)142 (202)(485)
Balance, June 30, 2024$(32,198)$(2,620)$4,231 $(30,587)
Balance, April 1, 2023$(31,889)$(3,407)$4,043 $(31,253)
Other comprehensive (loss) income before reclassifications from accumulated other comprehensive loss before tax(4,810)— 2,094 (2,716)
Reclassifications from accumulated other comprehensive loss to earnings before tax— 206— 206 
Other comprehensive (loss) gain before tax(4,810)206 2,094 (2,510)
Income tax (benefit) provision(1,107)49 481 (577)
Other comprehensive (loss) income - net of tax(3,703)157 1,613 (1,933)
Balance, June 30, 2023$(35,592)$(3,250)$5,656 $(33,186)



Details About Accumulated Other Comprehensive Loss ComponentsAmounts Reclassified from
Accumulated Other Comprehensive Loss for the 		Amounts Reclassified from
Accumulated Other Comprehensive Loss for the		Affected Line Item in the
Statements of Operations
Three Months Ended June 30, 2024Three Months Ended June 30, 2023Six Months Ended June 30, 2024Six Months Ended June 30, 2023
Reclassifications from accumulated other comprehensive loss to earnings before tax$(188)(206)$(422)$(364)Interest income (loss)
Total amount reclassified before tax(188)(206)(422)(364)Income (loss) before income taxes
Tax benefit(46)(49)(103)(95)Income tax provision (benefit)
Total reclassifications from accumulated other comprehensive loss$(142)$(157)$(319)$(269)Net income