XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Securities |
Summary of the amortized cost and estimated fair value of securities with gross unrealized gains and losses | The following tables present the amortized cost and estimated fair value of securities with gross unrealized gains and losses at March 31, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2024
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | $ | 151,221 | ​ | $ | 28 | ​ | $ | (19,158) | ​ | $ | 132,091
Mortgage-Backed Securities | ​ |  | 260,079 | ​ |  | 1,544 | ​ | ​ | (17,407) | ​ |  | 244,216
Corporate Securities | ​ |  | 142,851 | ​ | ​ | 348 | ​ | ​ | (10,247) | ​ |  | 132,952
SBA Securities | ​ |  | 16,864 | ​ | ​ | 252 | ​ | ​ | (91) | ​ | ​ | 17,025
Asset-Backed Securities | ​ | ​ | 106,637 | ​ | ​ | 519 | ​ | ​ | (158) | ​ | ​ | 106,998
Total Securities Available for Sale | ​ | $ | 677,652 | ​ | $ | 2,691 | ​ | $ | (47,061) | ​ | $ | 633,282
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | $ | 151,512 | ​ | $ | 47 | ​ | $ | (19,035) | ​ | $ | 132,524
Mortgage-Backed Securities | ​ |  | 249,455 | ​ |  | 2,261 | ​ |  | (16,401) | ​ |  | 235,315
Corporate Securities | ​ |  | 142,098 | ​ | ​ | 386 | ​ | ​ | (11,879) | ​ |  | 130,605
SBA Securities | ​ |  | 18,497 | ​ | ​ | 279 | ​ | ​ | (102) | ​ |  | 18,674
Asset-Backed Securities | ​ | ​ | 87,054 | ​ | ​ | 357 | ​ | ​ | (425) | ​ | ​ | 86,986
Total Securities Available for Sale | ​ | $ | 648,616 | ​ | $ | 3,330 | ​ | $ | (47,842) | ​ | $ | 604,104
Summary of fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position | The following tables present the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | Number of | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
(dollars in thousands, except number of holdings) |  | Holdings |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | 215 | ​ | $ | 7,862 | ​ | $ | (44) | ​ | $ | 122,437 | ​ | $ | (19,114) | ​ | $ | 130,299 | ​ | $ | (19,158)
Mortgage-Backed Securities | ​ | 129 | ​ | ​ | 42,583 | ​ | ​ | (665) | ​ | ​ | 124,205 | ​ | ​ | (16,742) | ​ |  | 166,788 | ​ |  | (17,407)
Corporate Securities | ​ | 113 | ​ | ​ | 16,148 | ​ | ​ | (290) | ​ | ​ | 105,583 | ​ | ​ | (9,957) | ​ |  | 121,731 | ​ |  | (10,247)
SBA Securities | ​ | 45 | ​ | ​ | 1,973 | ​ | ​ | (5) | ​ | ​ | 6,296 | ​ | ​ | (86) | ​ |  | 8,269 | ​ |  | (91)
Asset-Backed Securities | ​ | 17 | ​ | ​ | 24,404 | ​ | ​ | (67) | ​ | ​ | 16,595 | ​ | ​ | (91) | ​ | ​ | 40,999 | ​ | ​ | (158)
Total Securities Available for Sale | ​ | 519 | ​ | $ | 92,970 | ​ | $ | (1,071) | ​ | $ | 375,116 | ​ | $ | (45,990) | ​ | $ | 468,086 | ​ | $ | (47,061)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | Number of | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
(dollars in thousands, except number of holdings) |  | Holdings |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | 212 | ​ | $ | 4,052 | ​ | $ | (17) | ​ | $ | 120,527 | ​ | $ | (19,018) | ​ | $ | 124,579 | ​ | $ | (19,035)
Mortgage-Backed Securities | ​ | 128 | ​ | ​ | 35,719 | ​ | ​ | (310) | ​ | ​ | 135,829 | ​ | ​ | (16,091) | ​ |  | 171,548 | ​ |  | (16,401)
Corporate Securities | ​ | 110 | ​ | ​ | 14,528 | ​ | ​ | (756) | ​ | ​ | 101,311 | ​ | ​ | (11,123) | ​ |  | 115,839 | ​ |  | (11,879)
SBA Securities | ​ | 47 | ​ | ​ | 1,731 | ​ | ​ | (3) | ​ | ​ | 7,072 | ​ | ​ | (99) | ​ |  | 8,803 | ​ |  | (102)
Asset-Backed Securities | ​ | 24 | ​ | ​ | 39,011 | ​ | ​ | (234) | ​ | ​ | 13,805 | ​ | ​ | (191) | ​ | ​ | 52,816 | ​ | ​ | (425)
Total Securities Available for Sale | ​ | 521 | ​ | $ | 95,041 | ​ | $ | (1,320) | ​ | $ | 378,544 | ​ | $ | (46,522) | ​ | $ | 473,585 | ​ | $ | (47,842)
Schedule of contractual maturities of debt | The following table presents a summary of amortized cost and estimated fair value of debt securities by the lesser of expected call date or contractual maturity as of March 31, 2024. Call date is used when a call of the debt security is expected, as determined by the Company when the security has a market value above its amortized cost. Contractual maturities will differ from expected maturities for mortgage-backed, SBA securities and asset-backed securities because borrowers may have the right to call or prepay obligations without penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | Amortized Cost |  | Fair Value
March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​
Due in One Year or Less | ​ | $ | 16,679 | ​ | $ | 16,643
Due After One Year Through Five Years | ​ |  | 48,627 | ​ |  | 46,923
Due After Five Years Through 10 Years | ​ |  | 192,786 | ​ |  | 172,941
Due After 10 Years | ​ |  | 35,980 | ​ |  | 28,536
Subtotal | ​ |  | 294,072 | ​ |  | 265,043
Mortgage-Backed Securities | ​ |  | 260,079 | ​ |  | 244,216
SBA Securities | ​ |  | 16,864 | ​ |  | 17,025
Asset-Backed Securities | ​ | ​ | 106,637 | ​ | ​ | 106,998
Totals | ​ | $ | 677,652 | ​ | $ | 633,282
Summary of the proceeds from sales of securities available for sale, as well as gross gains and losses | The following table presents a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, for the three months ended March 31, 2024 and March 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
(dollars in thousands) |  | 2024 |  | 2023
Proceeds From Sales of Securities | ​ | $ | 12,784 | ​ | $ | 19,959
Gross Gains on Sales | ​ |  | 786 | ​ |  | 197
Gross Losses on Sales | ​ |  | (693) | ​ |  | (253)
​

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of unrealized gains and losses on investments. + References No definition available. + Details
Name: | us-gaap_UnrealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration