XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Investment Securities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Investment Securities |
Summary of amortized cost and fair value of securities held-to-maturity and available-for-sale | The following table summarizes the amortized cost and fair value of securities held-to-maturity and available-for-sale and the corresponding amounts of gross unrealized gains and losses at September 30, 2022 and December 31, 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2022
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
(Dollars in thousands) | ​ | Cost |  | Gains |  | (Losses) |  | Value
Held-to-maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S Treasuries | ​ | $ | 6,000 | ​ | $ | — | ​ | $ | (895) | ​ | $ | 5,105
U.S. government and federal agencies | ​ |  | 35,588 | ​ |  | — | ​ |  | (6,318) | ​ |  | 29,270
Collateralized mortgage obligations | ​ |  | 21,924 | ​ |  | — | ​ |  | (4,155) | ​ |  | 17,769
Taxable municipal | ​ |  | 6,076 | ​ |  | — | ​ |  | (1,340) | ​ |  | 4,736
Mortgage-backed | ​ |  | 31,010 | ​ |  | — | ​ |  | (6,125) | ​ |  | 24,885
Total Held-to-maturity Securities | ​ | $ | 100,598 | ​ | $ | — | ​ | $ | (18,833) | ​ | $ | 81,765
Available-for-sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S Treasuries | ​ | $ | 63,404 | ​ | $ | — | ​ | $ | (4,585) | ​ | $ | 58,819
U.S. government and federal agencies | ​ |  | 38,717 | ​ |  | — | ​ |  | (4,261) | ​ |  | 34,456
Corporate bonds | ​ |  | 3,000 | ​ |  | — | ​ |  | (308) | ​ |  | 2,692
Collateralized mortgage obligations | ​ |  | 46,188 | ​ |  | — | ​ |  | (5,977) | ​ |  | 40,211
Tax-exempt municipal | ​ |  | 4,996 | ​ |  | — | ​ |  | (623) | ​ |  | 4,373
Taxable municipal | ​ |  | 608 | ​ |  | — | ​ |  | (30) | ​ |  | 578
Mortgage-backed | ​ |  | 249,113 | ​ |  | — | ​ |  | (23,696) | ​ |  | 225,417
Total Available-for-sale Securities | ​ | $ | 406,026 | ​ | $ | — | ​ | $ | (39,480) | ​ | $ | 366,546
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
(Dollars in thousands) | ​ | Cost |  | Gains |  | (Losses) |  | Value
Held-to-maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S Treasuries | ​ | $ | 6,000 | ​ | $ | — | ​ | $ | (150) | ​ | $ | 5,850
U.S. government and federal agencies | ​ |  | 35,720 | ​ |  | — | ​ |  | (726) | ​ |  | 34,994
Collateralized mortgage obligations | ​ |  | 25,606 | ​ |  | — | ​ |  | (534) | ​ |  | 25,072
Taxable municipal | ​ |  | 6,089 | ​ |  | — | ​ |  | (194) | ​ |  | 5,895
Mortgage-backed | ​ |  | 32,094 | ​ |  | — | ​ |  | (647) | ​ |  | 31,447
Total Held-to-maturity Securities | ​ | $ | 105,509 | ​ | $ | — | ​ | $ | (2,251) | ​ | $ | 103,258
Available-for-sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S Treasuries | ​ | $ | 30,954 | ​ | $ | — | ​ | $ | (411) | ​ | $ | 30,543
U.S. government and federal agencies | ​ |  | 34,803 | ​ |  | 258 | ​ |  | (524) | ​ |  | 34,537
Corporate bonds | ​ |  | 1,000 | ​ |  | 31 | ​ |  | — | ​ |  | 1,031
Collateralized mortgage obligations | ​ |  | 39,596 | ​ |  | 179 | ​ |  | (726) | ​ |  | 39,049
Tax-exempt municipal | ​ |  | 5,007 | ​ |  | 255 | ​ |  | — | ​ |  | 5,262
Taxable municipal | ​ |  | 1,653 | ​ |  | 37 | ​ |  | (5) | ​ |  | 1,685
Mortgage-backed | ​ |  | 127,287 | ​ |  | 1,232 | ​ |  | (1,326) | ​ |  | 127,193
Total Available-for-sale Securities | ​ | $ | 240,300 | ​ | $ | 1,992 | ​ | $ | (2,992) | ​ | $ | 239,300
Schedule of gross unrealized loss position of investments | The following tables summarize the fair value of securities held-to-maturity and securities available-for-sale at September 30, 2022 and December 31, 2021 and the corresponding amounts of gross unrealized losses. Management uses the valuations as of month-end in determining when securities are in an unrealized loss position. Therefore, a security’s market value could have exceeded its amortized cost on other days during the prior twelve-month period. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2022
​ | ​ | Less than 12 Months | ​ | 12 Months or Longer | ​ | Total
​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | Gross | ​ | ​ | ​ | Gross
​ | ​ | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
(Dollars in thousands) | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
Held-to-maturity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Treasuries | ​ | $ | — | ​ | $ | — | ​ | $ | 5,105 | ​ | $ | (895) | ​ | $ | 5,105 | ​ | $ | (895)
U.S. government and federal agencies | ​ |  | 834 | ​ |  | (166) | ​ |  | 28,436 | ​ |  | (6,152) | ​ |  | 29,270 | ​ |  | (6,318)
Collateralized mortgage obligations | ​ |  | 5,679 | ​ |  | (1,126) | ​ |  | 12,090 | ​ |  | (3,029) | ​ |  | 17,769 | ​ |  | (4,155)
Taxable municipal | ​ |  | — | ​ |  | — | ​ |  | 4,736 | ​ |  | (1,340) | ​ |  | 4,736 | ​ |  | (1,340)
Mortgage-backed | ​ |  | 1,643 | ​ |  | (328) | ​ |  | 23,242 | ​ |  | (5,797) | ​ |  | 24,885 | ​ |  | (6,125)
Total Held-to-maturity Securities | ​ | $ | 8,156 | ​ | $ | (1,620) | ​ | $ | 73,609 | ​ | $ | (17,213) | ​ | $ | 81,765 | ​ | $ | (18,833)
Available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Treasuries | ​ | $ | 39,019 | ​ | $ | (2,025) | ​ | $ | 19,800 | ​ | $ | (2,560) | ​ | $ | 58,819 | ​ | $ | (4,585)
U.S. government and federal agencies | ​ |  | 20,293 | ​ |  | (1,831) | ​ |  | 14,163 | ​ |  | (2,430) | ​ |  | 34,456 | ​ |  | (4,261)
Corporate bonds | ​ |  | 2,692 | ​ |  | (308) | ​ |  | — | ​ |  | — | ​ |  | 2,692 | ​ |  | (308)
Collateralized mortgage obligations | ​ |  | 20,001 | ​ |  | (1,507) | ​ |  | 20,210 | ​ |  | (4,470) | ​ |  | 40,211 | ​ |  | (5,977)
Tax-exempt municipal | ​ |  | 4,373 | ​ |  | (623) | ​ |  | — | ​ |  | — | ​ |  | 4,373 | ​ |  | (623)
Taxable municipal | ​ |  | 336 | ​ |  | (2) | ​ |  | 242 | ​ |  | (28) | ​ |  | 578 | ​ |  | (30)
Mortgage-backed | ​ |  | 165,485 | ​ |  | (13,529) | ​ |  | 59,932 | ​ |  | (10,167) | ​ |  | 225,417 | ​ |  | (23,696)
Total Available-for-sale Securities | ​ | $ | 252,199 | ​ | $ | (19,825) | ​ | $ | 114,347 | ​ | $ | (19,655) | ​ | $ | 366,546 | ​ | $ | (39,480)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021
​ | ​ | Less than 12 Months | ​ | 12 Months or Longer | ​ | Total
​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | Gross
​ | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized
(Dollars in thousands) | ​ | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Held-to-maturity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Treasuries | ​ | $ | 5,851 | ​ | $ | (150) | ​ | $ | — | ​ | $ | — | ​ | $ | 5,851 | ​ | $ | (150)
U.S. government and federal agencies | ​ |  | 31,617 | ​ |  | (645) | ​ |  | 3,376 | ​ |  | (81) | ​ |  | 34,993 | ​ |  | (726)
Collateralized mortgage obligations | ​ |  | 25,072 | ​ |  | (534) | ​ |  | — | ​ |  | — | ​ |  | 25,072 | ​ |  | (534)
Taxable municipal | ​ |  | 3,971 | ​ |  | (133) | ​ |  | 1,923 | ​ |  | (61) | ​ |  | 5,894 | ​ |  | (194)
Mortgage-backed | ​ |  | 27,995 | ​ |  | (573) | ​ |  | 3,452 | ​ |  | (74) | ​ |  | 31,447 | ​ |  | (647)
Total Held-to-maturity Securities | ​ | $ | 94,506 | ​ | $ | (2,035) | ​ | $ | 8,751 | ​ | $ | (216) | ​ | $ | 103,257 | ​ | $ | (2,251)
Available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S Treasuries | ​ | $ | 30,543 | ​ | $ | (411) | ​ | $ | — | ​ | $ | — | ​ | $ | 30,543 | ​ | $ | (411)
U.S. government and federal agencies | ​ |  | 14,154 | ​ |  | (301) | ​ |  | 6,877 | ​ |  | (223) | ​ |  | 21,031 | ​ |  | (524)
Collateralized mortgage obligations | ​ |  | 30,352 | ​ |  | (726) | ​ |  | — | ​ |  | — | ​ |  | 30,352 | ​ |  | (726)
Taxable municipal | ​ |  | 265 | ​ |  | (5) | ​ |  | — | ​ |  | — | ​ |  | 265 | ​ |  | (5)
Mortgage-backed | ​ |  | 93,129 | ​ |  | (1,280) | ​ |  | 918 | ​ |  | (46) | ​ |  | 94,047 | ​ |  | (1,326)
Total Available-for-sale Securities | ​ | $ | 168,443 | ​ | $ | (2,723) | ​ | $ | 7,795 | ​ | $ | (269) | ​ | $ | 176,238 | ​ | $ | (2,992)
Contractual maturities of investment securities | The table below summarizes, by major security type, the contractual maturities of our investment securities as of September 30, 2022. Borrowers may have the right to call or prepay certain obligations and as such, the expected maturities of our securities are likely to differ from the scheduled contractual maturities presented below. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2022
​ | ​ | Amortized | ​ | Fair
(Dollars in thousands) |  | Cost |  | Value
Held-to-maturity |  | ​ |  |  | ​ |
Due in one year or less | ​ | $ | — | ​ | $ | —
Due after one year through five years | ​ |  | 993 | ​ |  | 840
Due after five years through ten years | ​ |  | 42,260 | ​ |  | 35,082
Due after ten years | ​ |  | 57,345 | ​ |  | 45,843
Total Held-to-maturity Securities | ​ | $ | 100,598 | ​ | $ | 81,765
Available-for-sale | ​ |  |  | ​ |  |
Due in one year or less | ​ | $ | 38 | ​ | $ | 38
Due after one year through five years | ​ |  | 99,559 | ​ |  | 92,262
Due after five years through ten years | ​ |  | 167,122 | ​ |  | 153,112
Due after ten years | ​ |  | 139,307 | ​ |  | 121,134
Total Available-for-sale Securities | ​ | $ | 406,026 | ​ | $ | 366,546
Summary of restricted securities | The table below summarizes the carrying amount of restricted securities as of September 30, 2022 and December 31, 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | September 30, 2022 |  | December 31, 2021
Federal Reserve Bank Stock | ​ | $ | 3,288 | ​ | $ | 3,275
Federal Home Loan Bank Stock | ​ |  | 1,073 | ​ |  | 1,616
Community Bankers’ Bank Stock | ​ |  | 60 | ​ |  | 60
Total Restricted Securities | ​ | $ | 4,421 | ​ | $ | 4,951

X
- Definition Tabular disclosure of investment in restricted securities. + References No definition available. + Details
Name: | jmsb_ScheduleOfRestrictedSecuritiesTableTextBlock
Namespace Prefix: | jmsb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_InvestmentTableTextBlock
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

X
- Definition 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 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration