Securities (Tables)

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost, Fair Value, and Corresponding Amounts of Gross Unrealized Gains and Losses for Available for Sale Securities

The following tables summarize the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities as of June 30, 2025 and December 31, 2024:



	June 30, 2025
($ in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	38,425	$	—	$	(3,619)	$	34,806
Residential collateralized mortgage obligations	149,107		573		(14,807)		134,873
Municipal securities - tax exempt	5,884		—		(563)		5,321
Total AFS debt securities	$	193,416	$	573	$	(18,989)	$	175,000



	December 31, 2024
($ in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	41,521	$	—	$	(4,445)	$	37,076
Residential collateralized mortgage obligations	160,187		312		(17,458)		143,041
Municipal securities - tax exempt	5,830		37		(75)		5,792
Total AFS debt securities	$	207,538	$	349	$	(21,978)	$	185,909

Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale by Contractual Maturity

The amortized cost and fair value of AFS debt securities as of June 30, 2025, by contractual maturity, are shown below:



($ in thousands)	Amortized Cost		Fair Value
Within one year	$	39	$	38
After one year through five years	834		810
After five years through ten years	13,504		12,368
After ten years	179,039		161,784
Total AFS debt securities	$	193,416	$	175,000

Schedule of Unrealized Losses on AFS Debt Securities

The following tables present the fair values and the associated gross unrealized losses of AFS debt securities, aggregated by length of time that the securities have been in a continuous unrealized loss position as of June 30, 2025 and December 31, 2024:



	June 30, 2025
	Less Than 12 Months				12 Months or Longer				Total
($ in thousands)	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	4,915	$	(87)	$	29,891	$	(3,532)	$	34,806	$	(3,619)
Residential collateralized mortgage obligations	5,359		(11)		83,708		(14,796)		89,067		(14,807)
Municipal securities - tax exempt	3,688		(352)		1,633		(211)		5,321		(563)
Total AFS debt securities	$	13,962	$	(450)	$	115,232	$	(18,539)	$	129,194	$	(18,989)



	December 31, 2024
	Less Than 12 Months				12 Months or Longer				Total
($ in thousands)	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	5,442	$	(133)	$	31,634	$	(4,312)	$	37,076	$	(4,445)
Residential collateralized mortgage obligations	27,614		(214)		93,236		(17,244)		120,850		(17,458)
Municipal securities - tax exempt	895		(19)		1,788		(56)		2,683		(75)
Total AFS debt securities	$	33,951	$	(366)	$	126,658	$	(21,612)	$	160,609	$	(21,978)

Schedule of Other Investments

The following table presents the other investment securities, which are included in Other investments on the consolidated balance sheets as of June 30, 2025 and December 31, 2024:



($ in thousands)	June 30, 2025		December 31, 2024
FHLB stock	$	13,155	$	12,615
Pacific Coast Bankers Bank ("PCBB") stock	190		190
Mutual fund - Community Reinvestment Act ("CRA") qualified (1)	3,651		3,532
Time deposits placed in other banks	105		100
Total other investments	$	17,101	$	16,437

(1)The Company recorded $12 thousand and $64 thousand unrealized gains for the three and six months ended June 30, 2025, respectively, and $14 thousand and $50 thousand unrealized losses for the three and six months ended June 30, 2024, respectively. The unrealized gains (losses) of the mutual fund are included in other income in the consolidated statements of income.

OP Bancorp 10-Q