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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized costs and fair value of investment securities

		June 30, 2022
		Amortized				Gross Unrealized								Fair
(dollars in thousands)		Cost				Gains				Losses				Value
Available for sale
Corporate bonds		$	2,185				-				204				1,981
US treasuries			999				-				94				905
US government agencies			13,005				-				1,752				11,253
State and political subdivisions			23,071				4				3,096				19,979
Asset-backed securities			7,922				-				169				7,753
Mortgage-backed securities
FHLMC			21,809				-				2,835				18,974
FNMA			36,865				-				4,200				32,665
GNMA			5,974				-				493				5,481
Total mortgage-backed securities			64,648				-				7,528				57,120
Total investment securities available for sale		$	111,830				4				12,843				98,991

		December 31, 2021
		Amortized				Gross Unrealized								Fair
		Cost				Gains				Losses				Value
Available for sale
Corporate bonds		$	2,198				-				10				2,188
US treasuries			999				-				7				992
US government agencies			14,504				1				336				14,169
SBA securities			429				9				-				438
State and political subdivisions			24,887				549				260				25,176
Asset-backed securities			10,136				45				17				10,164
Mortgage-backed securities
FHLMC			23,057				102				494				22,665
FNMA			40,924				235				660				40,499
GNMA			4,084				3				97				3,990
Total mortgage-backed securities			68,065				340				1,251				67,154
Total investment securities available for sale		$	121,218				944				1,881				120,281

Schedule of fair values investment securities available for contractual maturities

																										June 30, 2022
		Less than one year								One to five years								Five to ten years								Over ten years								Total
(dollars in thousands)		Amount				Yield				Amount				Yield				Amount				Yield				Amount				Yield				Amount				Yield
Available for sale
Corporate bonds		$	-				-				-				-				1,981				1.99	%			-				-				1,981				1.99	%
US treasuries			-				-				-				-				905				1.27	%			-				-				905				1.27	%
US government agencies			-				-				2,445				0.83	%			8,001				1.49	%			807				1.48	%			11,253				1.34	%
State and political subdivisions			-				-				468				2.13	%			4,571				1.62	%			14,940				2.19	%			19,979				2.05	%
Asset-backed securities			-				-				-				-				1,246				3.33	%			6,507				2.03	%			7,753				2.23	%
Mortgage-backed securities			-				-				3,280				1.20	%			4,976				1.43	%			48,864				1.60	%			57,120				1.56	%
Total investment securities		$	-				-				6,193				1.12	%			21,680				1.64	%			71,118				1.76	%			98,991				1.69	%

																										December 31, 2021
		Less than one year								One to five years								Five to ten years								Over ten years								Total
(dollars in thousands)		Amount				Yield				Amount				Yield				Amount				Yield				Amount				Yield				Amount				Yield
Available for sale
Corporate bonds		$	-				-				-				-				2,188				1.98	%			-				-				2,188				1.98	%
US treasuries			-				-				-				-				992				1.27	%			-				-				992				1.27	%
US government agencies			-				-				2,481				0.36	%			8,756				1.31	%			2,932				1.79	%			14,169				1.24	%
SBA securities			-				-				-				-				-				-				438				1.01	%			438				1.01	%
State and political subdivisions			-				-				471				2.13	%			4,282				1.61	%			20,423				2.21	%			25,176				2.11	%
Asset-backed securities			-				-				-				-				1,614				1.79	%			8,550				0.97	%			10,164				1.10	%
Mortgage-backed securities			387				2.10	%			4,411				1.29	%			9,121				1.59	%			53,235				1.38	%			67,154				1.40	%
Total investment securities		$	387				2.10	%			7,363				1.03	%			26,953				1.53	%			85,578				1.55	%			120,281				1.52	%

Schedule of gross unrealized losses on investment securities and fair market value of related securities

		June 30, 2022
		Less than 12 months												12 months or longer												Total
(dollars in thousands)		#				Fair value				Unrealized losses				#				Fair value				Unrealized losses				#				Fair value				Unrealized losses
Available for sale
Corporate bonds			1			$	1,981			$	204				-			$	-			$	-				1			$	1,981			$	204
US treasures			1				905				94				-				-				-				1				905				94
US government agencies			4				6,069				942				6				5,184				810				10				11,253				1,752
State and political subdivisions			22				15,137				2,194				9				4,601				902				31				19,738				3,096
Asset-backed			6				5,496				126				2				1,502				43				8				6,998				169
Mortgage-backed securities
FHLMC			14				14,335				1,990				5				4,640				845				19				18,975				2,835
FNMA			24				17,522				2,028				12				15,133				2,172				36				32,655				4,200
GNMA			4				3,805				301				3				1,676				192				7				5,481				493
Total investment securities			76			$	65,250			$	7,879				37			$	32,736			$	4,964				113			$	97,986			$	12,843

		December 31, 2021
		Less than 12 months												12 months or longer												Total
(dollars in thousands)		#				Fair value				Unrealized losses				#				Fair value				Unrealized losses				#				Fair value				Unrealized losses
Available for sale
Corporate bonds			1			$	2,188			$	10				-			$	-			$	-				1			$	2,188			$	10
US treasures			1				992				7				-				-				-				1				992				7
US government agencies			7				9,831				173				4				3,837				163				11				13,668				336
State and political subdivisions			9				7,821				193				6				2,909				67				15				10,730				260
Asset-backed			2				1,751				9				2				1,717				7				4				3,468				16
Mortgage-backed securities
FHLMC			10				13,705				303				4				4,644				192				14				18,349				495
FNMA			11				16,098				296				9				11,264				364				20				27,362				660
GNMA			2				655				4				3				3,215				93				5				3,870				97
Total investment securities			43			$	53,041			$	995				28			$	27,586			$	886				71			$	80,627			$	1,881

Schedule of other investments

(dollars in thousands)		June 30, 2022				December 31, 2021
Federal Home Loan Bank stock		$	3,632				1,241
Other nonmarketable investments			1,030				2,377
Investment in Trust Preferred subsidiaries			403				403
Total other investments		$	5,065				4,021

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.

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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- Definition

Tabular disclosure of other investments not readily marketable, including, but not limited to, description of investment, fair value and value as measured by quoted price.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 820
-Section 50
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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
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