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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Investment Securities  
Summary of amortized cost and fair value of securities available-for-sale

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

September 30, 2024

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

(Dollars in thousands)

​

Cost

    

Gains

    

(Losses)

    

Value

Available-for-sale

​

 

  

​

 

  

​

 

  

​

 

  

U.S. Treasuries

​

$

30,892

​

$

—

​

$

(888)

​

$

30,004

U.S. government and federal agencies

​

 

13,939

​

 

—

​

 

(318)

​

 

13,621

Corporate bonds

​

 

3,000

​

 

—

​

 

(345)

​

 

2,655

U.S. agency collateralized mortgage obligations

​

 

38,508

​

 

—

​

 

(5,602)

​

 

32,906

Tax-exempt municipal

​

 

1,379

​

 

—

​

 

(158)

​

 

1,221

Taxable municipal

​

 

270

​

 

—

​

 

(9)

​

 

261

U.S. agency mortgage-backed

​

 

68,438

​

 

—

​

 

(4,457)

​

 

63,981

Total Available-for-sale Securities

​

$

156,426

​

$

—

​

$

(11,777)

​

$

144,649

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

December 31, 2023

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

(Dollars in thousands)

​

Cost

    

Gains

    

(Losses)

    

Value

Available-for-sale

​

 

  

​

 

  

​

 

  

​

 

  

U.S. Treasuries

​

$

44,793

​

$

—

​

$

(1,816)

​

$

42,977

U.S. government and federal agencies

​

 

13,850

​

 

—

​

 

(575)

​

 

13,275

Corporate bonds

​

 

3,000

​

 

—

​

 

(477)

​

 

2,523

U.S. agency collateralized mortgage obligations

​

 

40,806

​

 

—

​

 

(6,496)

​

 

34,310

Tax-exempt municipal

​

 

1,380

​

 

—

​

 

(149)

​

 

1,231

Taxable municipal

​

 

606

​

 

—

​

 

(19)

​

 

587

U.S. agency mortgage-backed

​

 

81,255

​

 

—

​

 

(6,165)

​

 

75,090

Total Available-for-sale Securities

​

$

185,690

​

$

—

​

$

(15,697)

​

$

169,993
Schedule of gross unrealized loss position of investments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

September 30, 2024

​

​

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

Available-for-sale

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

U.S. Treasuries

​

$

—

​

$

—

​

$

30,004

​

$

(888)

​

$

30,004

​

$

(888)

U.S. government and federal agencies

​

 

—

​

 

—

​

 

13,621

​

 

(318)

​

 

13,621

​

 

(318)

Corporate bonds

​

 

—

​

 

—

​

 

2,655

​

 

(345)

​

 

2,655

​

 

(345)

U.S. agency collateralized mortgage obligations

​

 

—

​

 

—

​

 

32,906

​

 

(5,602)

​

 

32,906

​

 

(5,602)

Tax-exempt municipal

​

 

—

​

 

—

​

 

1,221

​

 

(158)

​

 

1,221

​

 

(158)

Taxable municipal

​

 

—

​

 

—

​

 

261

​

 

(9)

​

 

261

​

 

(9)

U.S. agency mortgage-backed

​

 

—

​

 

—

​

 

63,981

​

 

(4,457)

​

 

63,981

​

 

(4,457)

Total Available-for-sale Securities

​

$

—

​

$

—

​

$

144,649

​

$

(11,777)

​

$

144,649

​

$

(11,777)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

December 31, 2023

​

​

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

Available-for-sale

​

 

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Treasuries

​

$

—

​

$

—

​

$

42,977

​

$

(1,816)

​

$

42,977

​

$

(1,816)

U.S. government and federal agencies

​

 

—

​

 

—

​

 

13,275

​

 

(575)

​

 

13,275

​

 

(575)

Corporate bonds

​

​

—

​

 

—

​

 

2,523

​

 

(477)

​

 

2,523

​

 

(477)

U.S. agency collateralized mortgage obligations

​

 

—

​

 

—

​

 

34,310

​

 

(6,496)

​

 

34,310

​

 

(6,496)

Tax-exempt municipal

​

​

—

​

 

—

​

 

1,231

​

 

(149)

​

 

1,231

​

 

(149)

Taxable municipal

​

 

—

​

 

—

​

 

587

​

 

(19)

​

 

587

​

 

(19)

U.S. agency mortgage-backed

​

 

—

​

 

—

​

 

75,090

​

 

(6,165)

​

 

75,090

​

 

(6,165)

Total Available-for-sale Securities

​

$

—

​

$

—

​

$

169,993

​

$

(15,697)

​

$

169,993

​

$

(15,697)
Contractual maturities of investment securities

​

​

​

​

​

​

​

​

​

    

September 30, 2024

​

​

Amortized

​

Fair

(Dollars in thousands)

    

Cost

    

Value

Available-for-sale

​

 

  

​

 

  

Due in one year or less

​

$

23,710

​

$

23,463

Due after one year through five years

​

 

35,095

​

 

33,934

Due after five years through ten years

​

 

40,145

​

 

38,487

Due after ten years

​

 

57,476

​

 

48,765

Total Available-for-sale Securities

​

$

156,426

​

$

144,649

​

​

​

​

​

​

​

​

​

    

September 30, 2024

​

​

Amortized

​

Fair

(Dollars in thousands)

    

Cost

    

Value

Held-to-maturity

 

​

  

 

​

  

Due in one year or less

​

$

—

​

$

—

Due after one year through five years

​

 

25,428

​

 

23,212

Due after five years through ten years

​

 

23,647

​

 

20,555

Due after ten years

​

 

43,788

​

 

35,964

Total Held-to-maturity Securities

​

$

92,863

​

$

79,731
Summary of amortized cost and fair value of securities held-to-maturity

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

September 30, 2024

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

(Dollars in thousands)

​

Cost

    

Gains

    

(Losses)

    

Value

Held-to-maturity

 

​

  

 

​

  

 

​

  

 

​

  

U.S. Treasuries

​

$

6,002

​

$

—

​

$

(501)

​

$

5,501

U.S. government and federal agencies

​

 

35,359

​

 

—

​

 

(3,874)

​

 

31,485

U.S. agency collateralized mortgage obligations

​

 

18,227

​

 

—

​

 

(3,511)

​

 

14,716

Taxable municipal

​

 

6,045

​

 

—

​

 

(887)

​

 

5,158

U.S. agency mortgage-backed

​

 

27,230

​

 

—

​

 

(4,359)

​

 

22,871

Total Held-to-maturity Securities

​

$

92,863

​

$

—

​

$

(13,132)

​

$

79,731

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

December 31, 2023

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

(Dollars in thousands)

​

Cost

    

Gains

    

(Losses)

    

Value

Held-to-maturity

 

​

  

 

​

  

 

​

  

 

​

  

U.S. Treasuries

​

$

6,001

​

$

—

​

$

(667)

​

$

5,334

U.S. government and federal agencies

​

 

35,434

​

 

—

​

 

(5,100)

​

 

30,334

U.S agency collateralized mortgage obligations

​

 

19,395

​

 

—

​

 

(4,095)

​

 

15,300

Taxable municipal

​

 

6,057

​

 

—

​

 

(1,101)

​

 

4,956

U.S. agency mortgage-backed

​

 

28,618

​

 

—

​

 

(5,010)

​

 

23,608

Total Held-to-maturity Securities

​

$

95,505

​

$

—

​

$

(15,973)

​

$

79,532
Summary of restricted securities

​

​

​

​

​

​

​

​

(Dollars in thousands)

    

September 30, 2024

    

December 31, 2023

Federal Reserve Bank Stock

​

$

3,323

​

$

3,310

Federal Home Loan Bank Stock

​

 

4,247

​

 

1,642

Community Bankers’ Bank Stock

​

 

60

​

 

60

Total Restricted Securities

​

$

7,630

​

$

5,012