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Other assets (Tables)
3 Months Ended
Mar. 31, 2025
Other assets  
Schedule of components of other assets

(Dollars in thousands)

    

March 31, 2025

    

December 31, 2024

Other real estate owned

$

738

$

738

Mortgage servicing rights (1)

 

1,260

 

1,304

Prepaid shares tax

 

1,476

 

1,304

Equity investments without readily determinable fair value

5,151

5,080

Prepaid pension

 

5,947

 

5,788

Prepaid expenses

7,577

7,031

Restricted equity securities (FHLB and ACBB)

9,276

10,220

Investment in low income housing partnerships

 

16,428

 

17,886

Interest rate swaps(2)

17,744

20,537

Other assets

5,538

5,031

Total

$

71,135

$

74,919

(1)The Company originates one-to-four family residential mortgage loans for sale in the secondary market with servicing rights retained. Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of mortgage loans serviced for others were $181.6 million at March 31, 2025 and $185.2 million at December 31, 2024.
(2)Interest rate swaps balance represents the fair value of the commercial loan back-to-back swaps.