XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.2
Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Available-For-Sale

The amortized cost and estimated fair values of investment securities are summarized below. For the three and six months ended June 30, 2023, there was no allowance for credit losses on available-for-sale securities. 

AVAILABLE-FOR-SALE:

       Gross   Gross     
   Amortized   Unrealized   Unrealized     
(Dollars in thousands)  Cost   Gains   Losses   Fair Value 
June 30, 2023                    
US Treasury securities  $60,649   $—   $(4,173)  $56,476 
Government Sponsored Enterprises   2,500    —    (396)   2,104 
Mortgage-backed securities   262,719    30    (18,959)   243,790 
Small Business Administration pools   18,605    97    (536)   18,166 
Corporate and other securities   8,770    —    (1,067)   7,703 
Total  $353,243   $127   $(25,131)  $328,239 
                     
       Gross   Gross     
   Amortized   Unrealized   Unrealized     
(Dollars in thousands)  Cost   Gains   Losses   Fair Value 
December 31, 2022                    
US Treasury securities  $60,552   $—   $(4,569)  $55,983 
Government Sponsored Enterprises   2,500    —    (426)   2,074 
Mortgage-backed securities   263,704    10    (19,114)   244,600 
Small Business Administration pools   21,657    60    (630)   21,087 
Corporate and other securities   8,772    12    (666)   8,118 
Total  $357,185   $82   $(25,405)  $331,862 
Schedule of gross unrealized losses and fair values of available-for-sale securities

The following tables show gross unrealized losses and fair values of available-for-sale securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous loss position, as of June 30, 2023.

June 30, 2023  Less than 12 months   12 months or more   Total 
Available-for-sale securities:  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
(Dollars in thousands)  Value   Loss   Value   Loss   Value   Loss 
US Treasury Securities  $—   $—   $56,476   $4,173   $56,476   $4,173 
Government Sponsored Enterprise   —    —    2,104    396    2,104    396 
Mortgage-backed securities   43,304    2,013    197,311    16,946    240,615    18,959 
Small Business Administration pools   2,426    48    9,949    488    12,375    536 
Corporate and other securities   3,037    229    3,912    838    6,949    1,067 
Total  $48,767   $2,290   $269,752   $22,841   $318,519   $25,131 

 

The following table shows gross unrealized losses by fair values of available-for-sale securities, aggregated by investment category and length of time that individual securities have been in a continuous loss position as of December 31, 2022.

December 31, 2022  Less than 12 months   12 months or more   Total 
Available-for-sale securities:  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
(Dollars in thousands)  Value   Loss   Value   Loss   Value   Loss 
US Treasury Securities  $28,827   $1,032   $27,156   $3,537   $55,983   $4,569 
Government Sponsored Enterprise   —    —    2,074    426    2,074    426 
Mortgage-backed securities   81,961    4,435    159,227    14,679    241,188    19,114 
Small Business Administration pools   16,066    453    2,592    177    18,658    630 
Corporate and other securities   2,128    146    3,230    520    5,358    666 
Total  $128,982   $6,066   $194,279   $19,339   $323,261   $25,405 
Schedule of allowance for credit losses on held to maturity securities

The following table shows a roll forward of the allowance for credit losses on held to maturity securities for the six months ended June 30, 2023.

   State and 
Held-to-Maturity securities  local 
(Dollars in thousands)  government 
      
Allowance for Credit Losses on Held-to-Maturity Securities:     
Beginning balance, December 31, 2022  $— 
Adjustment for adoption of ASU 2016-13   (43)
Provision for credit losses   6 
Ending balance, June 30, 2023  $(37)
Schedule of Amortized Cost and Fair Value of Investment Securities

The following table shows the amortized cost and fair value of investment securities at June 30, 2023, by expected maturity. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. Mortgage-backed securities are included in the year corresponding with the remaining expected life.

   Available-for-sale 
June 30, 2023  Amortized   Fair 
(Dollars in thousands)  Cost   Value 
Due in one year or less  $30,689   $29,991 
Due after one year through five years   66,774    63,993 
Due after five years through ten years   227,657    209,216 
Due after ten years   28,123    25,039 
Total  $353,243   $328,239 

 

   Held-To-Maturity 
June 30, 2023  Amortized   Fair 
(Dollars in thousands)  Cost   Value 
Due in one year or less  $2,598   $2,574 
Due after one year through five years   45,364    43,770 
Due after five years through ten years   131,370    123,365 
Due after ten years   42,097    38,648 
Allowance for Credit Losses on Held-to-Maturity Securities   (37)   (37)
Total  $221,392   $208,320