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v3.24.3

Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Available-for-Sale Securities Reconciliation | The following tables provide information on the amortized cost and estimated fair values of debt securities.
($ in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Available-for-sale securities: |  |  |  |  |  |  |  |
September 30, 2024 |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 23,047 |  |  | $ | 6 |  |  | $ | 2,363 |  |  | $ | 20,690 |
Mortgage-backed-residential |  | 111,748 |  |  | 234 |  |  | 5,761 |  |  | 106,221 |
Other debt securities |  | 6,146 |  |  | 328 |  |  | 46 |  |  | 6,428 |
Total |  | $ | 140,941 |  |  | $ | 568 |  |  | $ | 8,170 |  |  | $ | 133,339 |
December 31, 2023 |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 23,472 |  |  | $ | 5 |  |  | $ | 3,002 |  |  | $ | 20,475 |
Mortgage-backed-residential |  | 91,280 |  |  | 5 |  |  | 7,258 |  |  | 84,027 |
Other debt securities |  | 6,080 |  |  | 59 |  |  | 120 |  |  | 6,019 |
Total |  | $ | 120,832 |  |  | $ | 69 |  |  | $ | 10,380 |  |  | $ | 110,521 |
Schedule of Held-to-Maturity Securities Reconciliation |
($ in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Allowance for Credit Losses
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |
September 30, 2024 |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 132,870 |  |  | $ | 3 |  |  | $ | 7,375 |  |  | $ | 125,498 |  |  | $ | — |
Mortgage-backed-residential |  | 339,848 |  |  | 51 |  |  | 36,293 |  |  | 303,606 |  |  | — |
States and political subdivisions |  | 1,466 |  |  | 42 |  |  | 9 |  |  | 1,499 |  |  | — |
Other debt securities |  | 10,500 |  |  | — |  |  | 807 |  |  | 9,693 |  |  | 101 |
Total |  | $ | 484,684 |  |  | $ | 96 |  |  | $ | 44,484 |  |  | $ | 440,296 |  |  | $ | 101 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 143,442 |  |  | $ | — |  |  | $ | 10,377 |  |  | $ | 133,065 |  |  | $ | — |
Mortgage-backed-residential |  | 357,870 |  |  | — |  |  | 43,864 |  |  | 314,006 |  |  | — |
States and political subdivisions |  | 1,470 |  |  | 57 |  |  | 19 |  |  | 1,508 |  |  | — |
Other debt securities |  | 10,500 |  |  | — |  |  | 1,249 |  |  | 9,251 |  |  | 94 |
Total |  | $ | 513,282 |  |  | $ | 57 |  |  | $ | 55,509 |  |  | $ | 457,830 |  |  | $ | 94 |
Activity in the ACL on held-to maturity securities | The following table summarizes the activity in the ACL on HTM securities as of the three and nine months ended September 30, 2024 and September 30, 2023.
($ in thousands) |  | Three Months Ended September 30, 2024 |  | Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023
Balance, beginning of period |  | $ | 108 |  |  | $ | 163 |  |  | $ | 94 |  |  | $ | — |
Other debt securities, (reversal of) provision for credit losses |  | (7) |  |  | (37) |  |  | 7 |  |  | 126 |
Balance, end of period |  | $ | 101 |  |  | $ | 126 |  |  | $ | 101 |  |  | $ | 126 |
Available-For-Sale Securities and Held-to-Maturity, Continuous Unrealized Loss Position, Fair Value | The following tables provide information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at September 30, 2024 and December 31, 2023.
|  | Less than 12 Months |  | More than 12 Months |  | Total
($ in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | — |  |  | $ | — |  |  | $ | 17,951 |  |  | $ | 2,363 |  |  | $ | 17,951 |  |  | $ | 2,363 |
Mortgage-backed-residential |  | 20,768 |  |  | 53 |  |  | 45,536 |  |  | 5,708 |  |  | 66,304 |  |  | 5,761 |
Other debt securities |  | — |  |  | — |  |  | 1,958 |  |  | 46 |  |  | 1,958 |  |  | 46 |
Total |  | $ | 20,768 |  |  | $ | 53 |  |  | $ | 65,445 |  |  | $ | 8,117 |  |  | $ | 86,213 |  |  | $ | 8,170 |
|  | Less than 12 Months |  | More than 12 Months |  | Total
($ in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 74 |  |  | $ | — |  |  | $ | 17,750 |  |  | $ | 3,002 |  |  | $ | 17,824 |  |  | $ | 3,002 |
Mortgage-backed-residential |  | 24,405 |  |  | 150 |  |  | 52,864 |  |  | 7,108 |  |  | 77,269 |  |  | 7,258 |
Other debt securities |  | — |  |  | — |  |  | 1,890 |  |  | 120 |  |  | 1,890 |  |  | 120 |
Total |  | $ | 24,479 |  |  | $ | 150 |  |  | $ | 72,504 |  |  | $ | 10,230 |  |  | $ | 96,983 |  |  | $ | 10,380 |
Schedule of Securities Debt Maturities | The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at September 30, 2024.
|  | Available for sale |  | Held to maturity
($ in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 2,495 |  |  | $ | 2,498 |  |  | $ | 7,057 |  |  | $ | 7,016 |
Due after one year through five years |  | 14,064 |  |  | 13,368 |  |  | 118,995 |  |  | 113,847 |
Due after five years through ten years |  | 29,194 |  |  | 27,403 |  |  | 36,270 |  |  | 33,973 |
Due after ten years |  | 95,188 |  |  | 90,070 |  |  | 322,362 |  |  | 285,460 |
Total |  | $ | 140,941 |  |  | $ | 133,339 |  |  | $ | 484,684 |  |  | $ | 440,296 |

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