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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Values of Investment Securities Available-For-Sale

The amortized cost and estimated fair values of investment securities are summarized below:

AVAILABLE-FOR-SALE:

(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2023                    
US Treasury securities  $20,791   $—   $(2,445)  $18,346 
Government Sponsored Enterprises   2,500    —    (371)   2,129 
Mortgage-backed securities   255,757    15    (17,613)   238,159 
Small Business Administration pools   16,108    24    (411)   15,721 
Corporate and other securities   8,759    —    (888)   7,871 
Total  $303,915   $39   $(21,728)  $282,226 
                     
(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
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 
(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2021                    
US Treasury securities  $15,736   $—   $(300)  $15,436 
Government Sponsored Enterprises   2,499    2    —    2,501 
Mortgage-backed securities   398,125    3,596    (3,992)   397,729 
Small Business Administration pools   30,835    505    (67)   31,273 
State and Local Government   105,469    4,918    (539)   109,848 
Corporate and other securities   8,024    157    (129)   8,118 
Total  $560,688   $9,178   $(5,027)  $564,839 
Schedule of Amortized Cost and Estimated Fair Values of Investment Securities Held-To-Maturity

HELD-TO-MATURITY:

(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2023                    
Mortgage-backed securities  $112,740   $—   $(8,490)  $104,250 
State and local government   104,430    282    (3,445)   101,268 
Total  $217,170   $282   $(11,935)  $205,518 
                 
(Dollars in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
December 31, 2022                    
Mortgage-backed securities  $121,772    —   $(8,656)  $113,116 
State and local government   106,929    —    (6,432)   100,497 
Total  $228,701   $—   $(15,088)  $213,613 
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position.

The following tables show gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position, at December 31, 2023 and December 31, 2022. 

 

                         
(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2023  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Available-for-sale securities:  Value   Loss   Value   Loss   Value   Loss 
US Treasury Securities  $—   $—   $18,346   $2,445   $18,346   $2,445 
Government Sponsored Enterprise   —    —    2,129    371    2,129    371 
Mortgage-backed securities   8,164    423    223,844    17,190    232,008    17,613 
Small Business Administration pools   4,253    45    7,638    366    11,891    411 
Corporate and other securities   1,880    115    4,236    773    6,116    888 
Total  $14,297   $583   $256,193   $21,145   $270,490   $21,728 
                         
(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2022  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Available-for-sale securities:  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   $6,067   $194,279   $19,338   $323,261   $25,405 

 

                         
(Dollars in thousands)  Less than 12 months   12 months or more   Total 
December 31, 2023  Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Held-to-maturity securities:  Value   Loss   Value   Loss   Value   Loss 
Mortgage-backed securities   —    —    104,250    8,490    104,250    8,490 
State and local government   6,278    25    78,597    3,420    84,875    3,445 
Total  $6,278   $25   $182,847   $11,910   $189,125   $11,935 
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 year ended December 31, 2023.

   State and 
   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   13 
Ending balance, December 31, 2023  $(30)
Schedule of Amortized Cost and Fair Value of Investment Securities

The amortized cost and fair value of investment securities at December 31, 2023, by expected maturity, follow. 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:

(Dollars in thousands)  Available-for-sale 
   Amortized
Cost		   Fair
Value		 
Due in one year or less  $5,003   $4,996 
Due after one year through five years   9,658    9,328 
Due after five years through ten years   39,482    35,424 
Due after ten years   249,772    232,478 
   $303,915   $282,226 

 

HELD-TO-MATURITY:

(Dollars in thousands)  Held-to-maturity 
   Amortized
Cost		   Fair
Value		 
Due in one year or less  $809   $805 
Due after one year through five years   42,349    40,915 
Due after five years through ten years   74,378    71,522 
Due after ten years   99,664    92,276 
Allowance for Credit Losses on Held-to-Maturity Securities   (30)   — 
   $217,170   $205,518