v3.24.1.u1

Investment Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost and Fair Value of Securities Available-For-Sale | The following table presents the amortized cost and fair value of the securities available-for-sale as of the dates indicated:
($ in thousands) |  | Amortized Cost |  | Gross Unrealized Gain |  | Gross Unrealized Loss |  | Fair Value
March 31, 2024 |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. government agency and U.S. government sponsored enterprise securities: |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | $ | 111,860 |  |  | $ | 87 |  |  | $ | (11,764) |  |  | $ | 100,183 |
Residential collateralized mortgage obligations |  | 25,002 |  |  | 54 |  |  | (1,628) |  |  | 23,428 |
SBA loan pool securities |  | 7,480 |  |  | 3 |  |  | (354) |  |  | 7,129 |
Municipal bonds |  | 3,307 |  |  | 3 |  |  | (30) |  |  | 3,280 |
Corporate bonds |  | 5,000 |  |  | — |  |  | (850) |  |  | 4,150 |
Total securities available-for-sale |  | $ | 152,649 |  |  | $ | 147 |  |  | $ | (14,626) |  |  | $ | 138,170 |
December 31, 2023 |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. government agency and U.S. government sponsored enterprise securities: |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | $ | 114,485 |  |  | $ | 199 |  |  | $ | (10,593) |  |  | $ | 104,091 |
Residential collateralized mortgage obligations |  | 25,611 |  |  | 63 |  |  | (1,501) |  |  | 24,173 |
SBA loan pool securities |  | 7,773 |  |  | 3 |  |  | (326) |  |  | 7,450 |
Municipal bonds |  | 3,306 |  |  | 25 |  |  | (2) |  |  | 3,329 |
Corporate bonds |  | 5,000 |  |  | — |  |  | (720) |  |  | 4,280 |
Total securities available-for-sale |  | $ | 156,175 |  |  | $ | 290 |  |  | $ | (13,142) |  |  | $ | 143,323 |
Investments Classified by Contractual Maturity Date | The following table presents the amortized cost and fair value of the securities available-for-sale by contractual maturity as of the date indicated. Expected maturities may differ from contractual maturities, if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
|  | March 31, 2024
($ in thousands) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 862 |  |  | $ | 861 |
One to five years |  | 82 |  |  | 80 |
Five to ten years |  | 5,725 |  |  | 4,871 |
Greater than ten years |  | 1,638 |  |  | 1,618 |
Residential mortgage-backed securities, residential collateralized mortgage obligations and SBA loan pool securities |  | 144,342 |  |  | 130,740 |
Total |  | $ | 152,649 |  |  | $ | 138,170 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The following table summarizes the investment securities with unrealized losses by security type and length of time in a continuous unrealized loss position for which an allowance for credit losses (“ACL”) was not recorded as of the dates indicated:
|  | Length of Time that Individual Securities Have Been In a Continuous Unrealized Loss Position
|  | Less Than 12 Months |  | 12 Months or Longer |  | Total
($ in thousands) |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities |  | Fair Value |  | Gross Unrealized Losses |  | Number of Securities
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency and U.S. government sponsored enterprise securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | $ | 6,936 |  |  | $ | (88) |  |  | 10 |  |  | $ | 82,428 |  |  | $ | (11,676) |  |  | 112 |  |  | $ | 89,364 |  |  | $ | (11,764) |  |  | 122 |
Residential collateralized mortgage obligations |  | 5,663 |  |  | (41) |  |  | 4 |  |  | 13,283 |  |  | (1,587) |  |  | 35 |  |  | 18,946 |  |  | (1,628) |  |  | 39 |
SBA loan pool securities |  | — |  |  | — |  |  | — |  |  | 6,349 |  |  | (354) |  |  | 14 |  |  | 6,349 |  |  | (354) |  |  | 14 |
Municipal bonds |  | 1,505 |  |  | (27) |  |  | 4 |  |  | 440 |  |  | (3) |  |  | 2 |  |  | 1,945 |  |  | (30) |  |  | 6 |
Corporate bonds |  | — |  |  | — |  |  | — |  |  | 4,150 |  |  | (850) |  |  | 1 |  |  | 4,150 |  |  | (850) |  |  | 1 |
Total securities available-for-sale |  | $ | 14,104 |  |  | $ | (156) |  |  | 18 |  |  | $ | 106,650 |  |  | $ | (14,470) |  |  | 164 |  |  | $ | 120,754 |  |  | $ | (14,626) |  |  | 182 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency and U.S. government sponsored enterprise securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities |  | $ | 9,252 |  |  | $ | (41) |  |  | 8 |  |  | $ | 78,958 |  |  | $ | (10,552) |  |  | 110 |  |  | $ | 88,210 |  |  | $ | (10,593) |  |  | 118 |
Residential collateralized mortgage obligations |  | 5,660 |  |  | (62) |  |  | 4 |  |  | 13,919 |  |  | (1,439) |  |  | 35 |  |  | 19,579 |  |  | (1,501) |  |  | 39 |
SBA loan pool securities |  | — |  |  | — |  |  | — |  |  | 6,627 |  |  | (326) |  |  | 14 |  |  | 6,627 |  |  | (326) |  |  | 14 |
Municipal bonds |  | 81 |  |  | — |  |  | 1 |  |  | 362 |  |  | (2) |  |  | 1 |  |  | 443 |  |  | (2) |  |  | 2 |
Corporate bonds |  | — |  |  | — |  |  | — |  |  | 4,280 |  |  | (720) |  |  | 1 |  |  | 4,280 |  |  | (720) |  |  | 1 |
Total securities available-for-sale |  | $ | 14,993 |  |  | $ | (103) |  |  | 13 |  |  | $ | 104,146 |  |  | $ | (13,040) |  |  | 161 |  |  | $ | 119,139 |  |  | $ | (13,142) |  |  | 174 |

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 fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
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