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Securities (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2024 and December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | $ | 152,030 | ​ | $ | 36 | ​ | $ | (19,515) | ​ | $ | 132,551
Mortgage-Backed Securities | ​ |  | 219,912 | ​ |  | 922 | ​ |  | (16,933) | ​ |  | 203,901
Corporate Securities | ​ |  | 149,103 | ​ | ​ | 486 | ​ | ​ | (9,292) | ​ |  | 140,297
SBA Securities | ​ |  | 15,708 | ​ | ​ | 267 | ​ | ​ | (67) | ​ | ​ | 15,908
Asset-Backed Securities | ​ | ​ | 107,826 | ​ | ​ | 659 | ​ | ​ | (85) | ​ | ​ | 108,400
Total Securities Available for Sale | ​ | $ | 644,579 | ​ | $ | 2,370 | ​ | $ | (45,892) | ​ | $ | 601,057
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 June 30, 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
June 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | 214 | ​ | $ | 8,030 | ​ | $ | (50) | ​ | $ | 121,333 | ​ | $ | (19,465) | ​ | $ | 129,363 | ​ | $ | (19,515)
Mortgage-Backed Securities | ​ | 123 | ​ | ​ | 28,646 | ​ | ​ | (292) | ​ | ​ | 121,135 | ​ | ​ | (16,641) | ​ |  | 149,781 | ​ |  | (16,933)
Corporate Securities | ​ | 112 | ​ | ​ | 17,224 | ​ | ​ | (236) | ​ | ​ | 105,083 | ​ | ​ | (9,056) | ​ |  | 122,307 | ​ |  | (9,292)
SBA Securities | ​ | 38 | ​ | ​ | 715 | ​ | ​ | (2) | ​ | ​ | 5,835 | ​ | ​ | (65) | ​ |  | 6,550 | ​ |  | (67)
Asset-Backed Securities | ​ | 12 | ​ | ​ | 19,402 | ​ | ​ | (48) | ​ | ​ | 8,397 | ​ | ​ | (37) | ​ | ​ | 27,799 | ​ | ​ | (85)
Total Securities Available for Sale | ​ | 499 | ​ | $ | 74,017 | ​ | $ | (628) | ​ | $ | 361,783 | ​ | $ | (45,264) | ​ | $ | 435,800 | ​ | $ | (45,892)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 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 the amortized cost and estimated fair value of debt securities by the lesser of expected call date or contractual maturity as of June 30, 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
June 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​
Due in One Year or Less | ​ | $ | 22,870 | ​ | $ | 22,879
Due After One Year Through Five Years | ​ |  | 54,344 | ​ |  | 52,845
Due After Five Years Through 10 Years | ​ |  | 192,318 | ​ |  | 172,198
Due After 10 Years | ​ |  | 31,601 | ​ |  | 24,926
Subtotal | ​ |  | 301,133 | ​ |  | 272,848
Mortgage-Backed Securities | ​ |  | 219,912 | ​ |  | 203,901
SBA Securities | ​ |  | 15,708 | ​ |  | 15,908
Asset-Backed Securities | ​ | ​ | 107,826 | ​ | ​ | 108,400
Totals | ​ | $ | 644,579 | ​ | $ | 601,057
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 and six months ended June 30, 2024 and June 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
(dollars in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Proceeds From Sales of Securities | ​ | $ | 38,049 | ​ | $ | 7,017 | ​ | $ | 50,833 | ​ | $ | 26,976
Gross Gains on Sales | ​ |  | 320 | ​ |  | 50 | ​ |  | 1,106 | ​ |  | 247
Gross Losses on Sales | ​ |  | — | ​ |  | — | ​ |  | (693) | ​ |  | (253)
​

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