v3.22.0.1

Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Estimated Fair Value of Investment | The amortized cost and estimated fair value of investment securities available for sale at December 31, 2021 and 2020 are summarized as follows:
|  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
(in thousands) |  |  |  |
December 31, 2021 |  |  |  |  |  |  |  |
U.S Treasuries |  | $ | 132,452 |  |  | $ | 45 |  |  | $ | (1,496) |  |  | $ | 131,001 |
Asset-backed securities |  | 10,093 |  |  | 59 |  |  | (12) |  |  | 10,140 |
Municipal |  | 10,825 |  |  | 43 |  |  | (394) |  |  | 10,474 |
Corporate |  | 5,000 |  |  | — |  |  | (66) |  |  | 4,934 |
Mortgage-backed securities |  | 27,589 |  |  | 514 |  |  | (197) |  |  | 27,906 |
|  | $ | 185,959 |  |  | $ | 661 |  |  | $ | (2,165) |  |  | $ | 184,455 |
December 31, 2020 |  |  |  |  |  |  |  |
Asset-backed securities |  | $ | 10,839 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 10,881 |
Municipal |  | 10,836 |  |  | 108 |  |  | (17) |  |  | 10,927 |
Corporate |  | 5,759 |  |  | 30 |  |  | (22) |  |  | 5,767 |
Mortgage-backed securities |  | 70,016 |  |  | 2,208 |  |  | (12) |  |  | 72,212 |
|  | $ | 97,450 |  |  | $ | 2,388 |  |  | $ | (51) |  |  | $ | 99,787 |
Schedule of Investment Portfolio in Continuous Unrealized Loss Position, Fair Value | Information related to unrealized losses in the investment portfolio as of December 31, 2021 and 2020 are as follows:
|  | Less than 12 months |  | 12 months or longer |  | Total
|  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
(in thousands) |  |  |  |  |  |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasuries |  | $ | 110,191 |  |  | $ | (1,496) |  |  | $ | — |  |  | $ | — |  |  | $ | 110,191 |  |  | $ | (1,496) |
Asset-backed securities |  | — |  |  | — |  |  | 2,115 |  |  | (12) |  |  | 2,115 |  |  | (12) |
Municipal |  | 5,750 |  |  | (248) |  |  | 3,019 |  |  | (146) |  |  | 8,769 |  |  | (394) |
Corporate |  | 4,448 |  |  | (52) |  |  | 486 |  |  | (14) |  |  | 4,934 |  |  | (66) |
Mortgage-backed securities |  | 14,114 |  |  | (189) |  |  | 2,124 |  |  | (8) |  |  | 16,238 |  |  | (197) |
|  | $ | 134,503 |  |  | $ | (1,985) |  |  | $ | 7,744 |  |  | $ | (180) |  |  | $ | 142,247 |  |  | $ | (2,165) |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Municipal |  | $ | 3,151 |  |  | $ | (17) |  |  | $ | — |  |  | $ | — |  |  | $ | 3,151 |  |  | $ | (17) |
Corporate |  | 1,994 |  |  | (6) |  |  | 244 |  |  | (16) |  |  | 2,238 |  |  | (22) |
Mortgage-backed securities |  | 2,410 |  |  | (12) |  |  | — |  |  | — |  |  | 2,410 |  |  | (12) |
|  | $ | 7,555 |  |  | $ | (35) |  |  | $ | 244 |  |  | $ | (16) |  |  | $ | 7,799 |  |  | $ | (51) |
Schedule Of Pledged Securities | There were no pledged securities at December 31, 2021. A summary of pledged securities at December 31, 2020 is shown below:
|  |  |  |  |  | December 31,
|  |  |  | 2020
(in thousands) |  |  |  |  |  | Amortized Cost |  | Fair Value
Federal Home Loan Bank (“FHLB”) advances |  |  |  |  |  | $ | 1,142 |  |  | $ | 1,189 |
|  |  |  |  |  | $ | 1,142 |  |  | $ | 1,189 |
Schedule of Investments Classified by Contractual Maturity Date | Contractual maturities of U.S. government-sponsored agencies, asset-backed, municipal, corporate and mortgage-backed securities at December 31, 2021 and 2020 are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | For the Years Ended December 31,
|  | 2021 |  | 2020
(in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Over one to five years |  | $ | 58,602 |  |  | $ | 57,650 |  |  | $ | — |  |  | $ | — |
Over five to ten years |  | 78,850 |  |  | 78,285 |  |  | 5,500 |  |  | 5,524 |
Over ten years |  | 10,825 |  |  | 10,474 |  |  | 11,095 |  |  | 11,170 |
Asset-backed securities(1) |  | 10,093 |  |  | 10,140 |  |  | 10,839 |  |  | 10,881 |
Mortgage-backed securities(1) |  | 27,589 |  |  | 27,906 |  |  | 70,016 |  |  | 72,212 |
|  | $ | 185,959 |  |  | $ | 184,455 |  |  | $ | 97,450 |  |  | $ | 99,787 |
(1) Mortgage-backed and Asset-backed securities are due in monthly installments.

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- Definition Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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