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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2024
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. As of June 30, 2024 and December 31, 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, 2024                    
US Treasury securities  $15,808   $   $(2,695)  $13,113 
Government Sponsored Enterprises   2,500        (382)   2,118 
Mortgage-backed securities   249,999    21    (16,775)   233,245 
Small Business Administration pools   14,261    27    (448)   13,840 
Corporate and other securities   8,757        (1,155)   7,602 
Total  $291,325   $48   $(21,455)  $269,918 
                     
       Gross   Gross     
   Amortized   Unrealized   Unrealized     
(Dollars in thousands)  Cost   Gains   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 
Schedule of Amortized Cost and Estimated Fair Values of Investment Securities Held-To-Maturity

HELD-TO-MATURITY:

       Gross   Gross     
   Amortized   Unrealized   Unrealized     
(Dollars in thousands)  Cost   Gains   Losses   Fair Value 
June 30, 2024                    
Mortgage-backed securities  $109,426   $   $(9,449)  $99,977 
State and local government   104,280        (4,795)   99,485 
Allowance for credit losses on Held-to-Maturity Securities   (27)           (27)
Total  $213,679   $   $(14,244)  $199,435 
                     
(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   104,460    283    (3,445)   101,298 
Allowance for credit losses on Held-to-Maturity Securities   (30)           (30)
Total  $217,170    283    (11,935)  $205,518 
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 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, 2024.

                         
June 30, 2024  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  $   $   $13,113   $2,695   $13,113   $2,695 
Government Sponsored Enterprise           2,118    382    2,118    382 
Mortgage-backed securities   4,926    192    222,759    16,583    227,685    16,775 
Small Business Administration pools   3,497    74    6,188    374    9,685    448 
Corporate and other securities   1,495    263    6,103    892    7,598    1,155 
Total  $9,918   $530   $250,281   $20,925   $260,199   $21,455 

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, 2023.

                         
December 31, 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  $   $   $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 
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 three and six months ended June 30, 2024 and 2023.

   Three Months 
   Ended 
(Dollars in thousands)  June 30, 2024 
Allowance for Credit Losses on Held-to-Maturity Securities:     
State and local government     
Beginning balance, March 31, 2024  $(29)
Recovery of (provision) for credit losses   2 
Ending balance, June 30, 2024  $(27)
      
   Three Months 
   Ended 
(Dollars in thousands)  June 30, 2023 
Allowance for Credit Losses on Held-to-Maturity Securities:     
State and local government     
Beginning balance, March 31, 2023  $(42)
Recovery of (provision) for credit losses   5 
Ending balance, June 30, 2023  $(37)
     
   Six Months 
   Ended 
(Dollars in thousands)  June 30, 2024 
Allowance for Credit Losses on Held-to-Maturity Securities:     
State and local government     
Beginning balance, December 31, 2023  $(30)
Recovery of (provision) for credit losses   3 
Ending balance, June 30, 2024  $(27)
      
   Six Months 
   Ended 
(Dollars in thousands)  June 30, 2023 
Allowance for Credit Losses on Held-to-Maturity Securities:     
State and local government     
Beginning balance, December 31, 2022  $ 
Adjustment for adoption of ASC 326   (43)
Recovery of (provision) for credit losses   6 
Ending balance, June 30, 2023  $(37)
Schedule of Credit Quality Rating  
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, 2024, 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, 2024  Amortized   Fair 
(Dollars in thousands)  Cost   Value 
Due in one year or less  $2   $2 
Due after one year through five years   9,716    9,323 
Due after five years through ten years   37,597    33,057 
Due after ten years   244,010    227,536 
Total  $291,325   $269,918 
           
   Held-To-Maturity 
June 30, 2024  Amortized   Fair 
(Dollars in thousands)  Cost   Value 
Due in one year or less  $2,789   $2,754 
Due after one year through five years   53,438    50,924 
Due after five years through ten years   62,039    58,875 
Due after ten years   95,440    86,909 
Allowance for Credit Losses on Held-to-Maturity Securities   (27)   (27)
Total  $213,679   $199,435