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INVESTMENT SECURITIES | 9 Months Ended
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Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
INVESTMENT SECURITIES | ​ NOTE 5 – INVESTMENT SECURITIES The amortized cost, gross unrealized gains and losses, and estimated fair values of securities available-for-sale at the dates indicated are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | unrealized | ​ | unrealized | ​ | Estimated
​ | ​ | cost | ​ | gains | ​ | losses | ​ | fair value
September 30, 2022 (As Restated) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government Agencies | ​ | $ | 1,506 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,506
Municipal securities | ​ |  | 21,494 | ​ |  | 3 | ​ |  | (2,194) | ​ |  | 19,303
Mortgage-backed securities | ​ |  | 35,472 | ​ |  | 30 | ​ |  | (4,256) | ​ |  | 31,246
Collateralized mortgage obligations | ​ |  | 28,653 | ​ |  | — | ​ |  | (2,768) | ​ |  | 25,885
SBA securities | ​ |  | 4,694 | ​ |  | 25 | ​ |  | (107) | ​ |  | 4,612
Corporate bonds | ​ |  | 77,150 | ​ |  | 92 | ​ |  | (6,984) | ​ |  | 70,258
Total | ​ | $ | 168,969 | ​ | $ | 150 | ​ | $ | (16,309) | ​ | $ | 152,810
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | unrealized | ​ | unrealized | ​ | Estimated
​ | ​ | cost | ​ | gains | ​ | losses | ​ | fair value
December 31, 2021 | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government Agencies | ​ | $ | 1,510 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,510
Municipal securities | ​ |  | 23,646 | ​ |  | 493 | ​ |  | (16) | ​ |  | 24,123
Mortgage-backed securities | ​ |  | 33,973 | ​ |  | 1,333 | ​ |  | (210) | ​ |  | 35,096
Collateralized mortgage obligations | ​ |  | 27,228 | ​ |  | 436 | ​ |  | (158) | ​ |  | 27,506
SBA securities | ​ |  | 6,055 | ​ |  | 53 | ​ |  | (20) | ​ |  | 6,088
Corporate bonds | ​ |  | 60,650 | ​ |  | 851 | ​ |  | (166) | ​ |  | 61,335
Total | ​ | $ | 153,062 | ​ | $ | 3,166 | ​ | $ | (570) | ​ | $ | 155,658
​ During the three and nine months ended September 30, 2022, the Company sold none and one available-for-sale securities for minimal realized gains, respectively, and the Company sold six securities available-for-sale for net realized gains of $22,000 during the three and nine months ended September 30, 2021. The estimated fair value and gross unrealized losses for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position at the dates indicated are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
​ | ​ | fair value | ​ | loss | ​ | fair value | ​ | loss | ​ | fair value | ​ | loss
September 30, 2022 (As Restated) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 15,518 | ​ | $ | (1,874) | ​ | $ | 2,216 | ​ | $ | (320) | ​ | $ | 17,734 | ​ | $ | (2,194)
Mortgage-backed securities | ​ | ​ | 25,682 | ​ | ​ | (2,988) | ​ | ​ | 5,089 | ​ | ​ | (1,268) | ​ | ​ | 30,771 | ​ | ​ | (4,256)
Collateralized mortgage obligations | ​ |  | 51,074 | ​ | ​ | (1,673) | ​ | ​ | 7,291 | ​ | ​ | (1,095) | ​ |  | 58,365 | ​ |  | (2,768)
SBA securities | ​ |  | 1,063 | ​ | ​ | (99) | ​ | ​ | 499 | ​ | ​ | (8) | ​ |  | 1,562 | ​ |  | (107)
Corporate bonds | ​ |  | 54,417 | ​ | ​ | (5,742) | ​ | ​ | 11,508 | ​ | ​ | (1,242) | ​ |  | 65,925 | ​ |  | (6,984)
Total | ​ | $ | 147,754 | ​ | $ | (12,376) | ​ | $ | 26,603 | ​ | $ | (3,933) | ​ | $ | 174,357 | ​ | $ | (16,309)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | Total
​ |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
​ | ​ | fair value | ​ | loss | ​ | fair value | ​ | loss | ​ | fair value | ​ | loss
December 31, 2021 | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Municipal securities | ​ | $ | 3,932 | ​ | $ | (16) | ​ | $ | — | ​ | $ | — | ​ | $ | 3,932 | ​ | $ | (16)
Mortgage-backed securities | ​ |  | 2,954 | ​ |  | (111) | ​ |  | 2,133 | ​ |  | (99) | ​ |  | 5,087 | ​ |  | (210)
Collateralized mortgage obligations | ​ |  | 9,236 | ​ |  | (108) | ​ |  | 1,605 | ​ |  | (50) | ​ |  | 10,841 | ​ |  | (158)
SBA securities | ​ |  | 134 | ​ |  | — | ​ |  | 1,058 | ​ |  | (20) | ​ |  | 1,192 | ​ |  | (20)
Corporate bonds | ​ |  | 23,084 | ​ |  | (166) | ​ |  | — | ​ |  | — | ​ |  | 23,084 | ​ |  | (166)
Total | ​ | $ | 39,340 | ​ | $ | (401) | ​ | $ | 4,796 | ​ | $ | (169) | ​ | $ | 44,136 | ​ | $ | (570)
​ At September 30, 2022, the Company held 330 investment securities, of which 38 were in an unrealized loss position for more than twelve months and 238 were in an unrealized loss position for less than twelve months. These temporary unrealized losses relate principally to current interest rates for similar types of securities. The Company anticipates full recovery of amortized cost with respect to these securities at maturity or sooner in the event of a more favorable market interest rate environment. The amortized cost and estimated fair value of securities available-for-sale at the dates indicated by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2022 | ​ | December 31, 2021
​ |  | Amortized |  | Estimated |  | Amortized |  | Estimated
​ | ​ | cost | ​ | fair value | ​ | cost | ​ | fair value
​ | ​ | (As Restated) | ​ | (As Restated) | ​ | ​ | ​ | ​ | ​ | ​
Available-for-sale |  | ​ |  | ​ |  | ​ |  |  | ​ |
Due in one year or less | ​ | $ | 1,007 | ​ | $ | 1,000 | ​ | $ | 862 | ​ | $ | 865
Due after one through five years | ​ |  | 23,459 | ​ |  | 22,760 | ​ |  | 23,519 | ​ |  | 24,173
Due after five years through ten years | ​ |  | 93,356 | ​ |  | 85,813 | ​ |  | 79,116 | ​ |  | 79,993
Due after ten years | ​ |  | 51,147 | ​ |  | 43,237 | ​ |  | 49,565 | ​ |  | 50,627
Total | ​ | $ | 168,969 | ​ | $ | 152,810 | ​ | $ | 153,062 | ​ | $ | 155,658
​ ​ ​ ​ ​ Equity securities – The company recognized a net loss of $362,000 and $4.0 million for the three and nine months ended September 30, 2022, respectively due to a decrease in fair value of equity securities. Equity securities were $14.4 million as of September 30, 2022, compared to $18.8 million as of December 31, 2021.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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