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Investment Securities (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 and December 31, 2023 were as follows:
|  |  | Gross Unrealized |  |
(dollars in thousands) | Total Amortized Cost |  | Gains |  | Losses |  | Fair Value
September 30, 2024 |  |  |  |  |  |  |
U.S. government and federal agency obligations | $ | 408 |  |  | $ | — |  |  | $ | (8) |  |  | $ | 400 |
U.S. government-sponsored enterprises | 13,026 |  | 97 |  | (164) |  | 12,959
Obligations of states and political subdivisions | 125,762 |  | 54 |  | (19,043) |  | 106,773
Mortgage-backed securities | 67,862 |  | 469 |  | (4,995) |  | 63,336
Other debt securities (a) | 19,413 |  | 59 |  | (860) |  | 18,612
Bank issued trust preferred securities (a) | 1,486 |  | — |  | (274) |  | 1,212
Total available-for-sale securities | $ | 227,957 |  |  | $ | 679 |  |  | $ | (25,344) |  |  | $ | 203,292 |
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.
(dollars in thousands) | Amortized Cost |  | Fair Value
Due in one year or less | $ | 4,278 |  |  | $ | 4,267 |
Due after one year through five years | 14,304 |  | 14,288
Due after five years through ten years | 36,216 |  | 33,785
Due after ten years | 105,297 |  | 87,616
Total | $ | 160,095 |  |  | $ | 139,956 |
Mortgage-backed securities | 67,862 |  | 63,336
Total available-for-sale securities | $ | 227,957 |  |  | $ | 203,292 |
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.
(dollars in thousands) | September 30, 2024 |  | December 31, 2023
Other securities: |  |  |
FHLB stock | $ | 5,504 |  | $ | 6,071
MIB stock | 151 |  | 151
Equity securities with readily determinable fair values | 72 |  | 78
Total other investment securities | $ | 5,727 |  | $ | 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 September 30, 2024 and December 31, 2023 were as follows:
| Less than 12 months |  | 12 months or more |  |  |  |
(dollars in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Total Fair Value |  | Total Unrealized Losses
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
U.S. government and federal agency obligations | $ | — |  |  | $ | — |  |  | $ | 400 |  |  | $ | (8) |  |  | $ | 400 |  |  | $ | (8) |
U.S. government-sponsored enterprises | — |  |  | — |  |  | 1,835 |  |  | (164) |  |  | 1,835 |  |  | (164) |
Obligations of states and political subdivisions | 537 |  |  | (117) |  |  | 103,386 |  |  | (18,926) |  |  | 103,923 |  |  | (19,043) |
Mortgage-backed securities | — |  |  | — |  |  | 36,173 |  |  | (4,995) |  |  | 36,173 |  |  | (4,995) |
Other debt securities | 5,625 |  |  | (52) |  |  | 9,018 |  |  | (808) |  |  | 14,643 |  |  | (860) |
Bank issued trust preferred securities | — |  |  | — |  |  | 1,212 |  |  | (274) |  |  | 1,212 |  |  | (274) |
Total | $ | 6,162 |  |  | $ | (169) |  |  | $ | 152,024 |  |  | $ | (25,175) |  |  | $ | 158,186 |  |  | $ | (25,344) |
(dollars 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) |

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- 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
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