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Investment Securities (Tables)

9 Months Ended

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)

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

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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

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Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

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