XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Securities (Tables)
 6 Months Ended
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)

​