XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Investment Securities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Value of Debt Securities Available-for-Sale | The amortized cost and fair value of debt securities classified as available-for-sale at June 30, 2024 and December 31, 2023 were as follows:
|  |  | Gross Unrealized |  |
(in thousands) | Total Amortized Cost |  | Gains |  | Losses |  | Fair Value
June 30, 2024 |  |  |  |  |  |  |
U.S. government and federal agency obligations | $ | 409 |  |  | $ | — |  |  | $ | (15) |  |  | $ | 394 |
U.S. government-sponsored enterprises | 13,030 |  | — |  | (303) |  | 12,727
Obligations of states and political subdivisions | 125,943 |  | 19 |  | (23,137) |  | 102,825
Mortgage-backed securities | 63,126 |  | 35 |  | (6,519) |  | 56,642
Other debt securities (a) | 12,545 |  | 16 |  | (1,036) |  | 11,525
Bank issued trust preferred securities (a) | 1,486 |  | — |  | (274) |  | 1,212
Total available-for-sale securities | $ | 216,539 |  |  | $ | 70 |  |  | $ | (31,284) |  |  | $ | 185,325 |
December 31, 2023 |  |  |  |  |  |  |
U.S. Treasury | $ | 1,977 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1,978 |
U.S. government and federal agency obligations | 446 |  | — |  | (19) |  | 427
U.S. government-sponsored enterprises | 22,042 |  | 16 |  | (236) |  | 21,822
Obligations of states and political subdivisions | 126,396 |  | 55 |  | (19,566) |  | 106,885
Mortgage-backed securities | 51,736 |  | 27 |  | (6,123) |  | 45,640
Other debt securities (a) | 11,825 |  | 22 |  | (1,026) |  | 10,821
Bank issued trust preferred securities (a) | 1,486 |  | — |  | (317) |  | 1,169
Total available-for-sale securities | $ | 215,908 |  |  | $ | 121 |  |  | $ | (27,287) |  |  | $ | 188,742 |
(a) Certain hybrid instruments possessing characteristics typically associated with debt obligations.
Schedule of Amortized Cost and Fair Value of Debt Securities Classified as Available-for-Sale by Contractual Maturity | Expected maturities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without prepayment penalties.
(in thousands) | Amortized Cost |  | Fair Value
Due in one year or less | $ | 2,056 |  |  | $ | 2,036 |
Due after one year through five years | 16,439 |  | 16,134
Due after five years through ten years | 27,294 |  | 24,225
Due after ten years | 107,624 |  | 86,288
Total | $ | 153,413 |  |  | $ | 128,683 |
Mortgage-backed securities | 63,126 |  | 56,642
Total available-for-sale securities | $ | 216,539 |  |  | $ | 185,325 |
Schedule of Other Securities | Investments in FHLB stock, and Midwest Independent BankersBank ("MIB") stock, that do not have readily determinable fair values, are required for membership in those organizations.
(in thousands) | June 30, 2024 |  | December 31, 2023
Other securities: |  |  |
FHLB stock | $ | 5,620 |  | $ | 6,071
MIB stock | 151 |  | 151
Equity securities with readily determinable fair values | 63 |  | 78
Total other investment securities | $ | 5,834 |  | $ | 6,300
Schedule of Gross Unrealized Losses on Debt Securities and Fair Value of Related Securities Aggregated by Investment Category and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position | Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2024 and December 31, 2023 were as follows:
| Less than 12 months |  | 12 months or more |  |  |  |
(in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Total Fair Value |  | Total Unrealized Losses
June 30, 2024 |  |  |  |  |  |  |  |  |  |  |
U.S. government and federal agency obligations | $ | — |  |  | $ | — |  |  | $ | 394 |  |  | $ | (15) |  |  | $ | 394 |  |  | $ | (15) |
U.S. government-sponsored enterprises | 10,968 |  |  | (62) |  |  | 1,759 |  |  | (241) |  |  | 12,727 |  |  | (303) |
Obligations of states and political subdivisions | 1,739 |  |  | (171) |  |  | 100,076 |  |  | (22,966) |  |  | 101,815 |  |  | (23,137) |
Mortgage-backed securities | 10,806 |  |  | (39) |  |  | 38,975 |  |  | (6,480) |  |  | 49,781 |  |  | (6,519) |
Other debt securities | 698 |  |  | (22) |  |  | 8,810 |  |  | (1,014) |  |  | 9,508 |  |  | (1,036) |
Bank issued trust preferred securities | — |  |  | — |  |  | 1,212 |  |  | (274) |  |  | 1,212 |  |  | (274) |
Total | $ | 24,211 |  |  | $ | (294) |  |  | $ | 151,226 |  |  | $ | (30,990) |  |  | $ | 175,437 |  |  | $ | (31,284) |
(in thousands) |  |  |  |  |  |  |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 997 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 997 |  |  | $ | — |
U.S. government and federal agency obligations | — |  |  | — |  |  | 427 |  |  | (19) |  |  | 427 |  |  | (19) |
U.S. government-sponsored enterprises | 11,995 |  |  | (8) |  |  | 1,772 |  |  | (228) |  |  | 13,767 |  |  | (236) |
Obligations of states and political subdivisions | 1,501 |  |  | (158) |  |  | 103,283 |  |  | (19,408) |  |  | 104,784 |  |  | (19,566) |
Mortgage-backed securities | 2,935 |  |  | (40) |  |  | 39,793 |  |  | (6,083) |  |  | 42,728 |  |  | (6,123) |
Other debt securities | — |  |  | — |  |  | 8,799 |  |  | (1,026) |  |  | 8,799 |  |  | (1,026) |
Bank issued trust preferred securities | — |  |  | — |  |  | 1,169 |  |  | (317) |  |  | 1,169 |  |  | (317) |
Total | $ | 17,428 |  |  | $ | (206) |  |  | $ | 155,243 |  |  | $ | (27,081) |  |  | $ | 172,671 |  |  | $ | (27,287) |

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the investment holdings which are represented by other than securities (for example, commodities). The investment holdings, other than securities investments table lists the long positions of non-security investments held by entity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 5D -Subparagraph (SX 210.12-13D) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5D + Details
Name: | us-gaap_InvestmentHoldingsOtherThanSecuritiesTextBlock
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 Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration