XML 56 R38.htm IDEA: XBRL DOCUMENT
v3.25.1

Investment Securities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Value of Debt Securities Available-For-Sale | The amortized cost, gross unrealized gains and losses, and fair value of debt securities classified as available-for-sale at December 31, 2024 and 2023 were as follows:
| Total Amortized Cost |  | Gross Unrealized |  | Fair Value
(dollars in thousands) |  | Gains |  | Losses |
December 31, 2024 |  |  |  |  |  |  |
U.S. Treasury | $ | 4,937 |  |  | $ | — |  |  | $ | (22) |  |  | $ | 4,915 |
U.S. government and federal agency obligations | 408 |  |  | — |  |  | (7) |  |  | 401 |
U.S. government-sponsored enterprises | 13,020 |  |  | 11 |  |  | (227) |  |  | 12,804 |
Obligations of states and political subdivisions | 125,559 |  |  | 7 |  |  | (23,080) |  |  | 102,486 |
Mortgage-backed securities | 84,729 |  |  | 59 |  |  | (6,678) |  |  | 78,110 |
Other debt securities (a) | 19,419 |  |  | 49 |  |  | (781) |  |  | 18,687 |
Bank issued trust preferred securities (a) | 1,486 |  |  | — |  |  | (237) |  |  | 1,249 |
Total available-for-sale securities | $ | 249,558 |  |  | $ | 126 |  |  | $ | (31,032) |  |  | $ | 218,652 |
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 | $ | 4,275 |  |  | $ | 4,270 |
Due after one year through five years | 19,715 |  |  | 19,480 |
Due after five years through ten years | 37,506 |  |  | 34,431 |
Due after ten years | 103,333 |  |  | 82,361 |
Total | 164,829 |  |  | 140,542 |
Mortgage-backed securities | 84,729 |  |  | 78,110 |
Total available-for-sale securities | $ | 249,558 |  |  | $ | 218,652 |
Schedule of Other Securities |
(dollars in thousands) | 2024 |  | 2023
FHLB stock | $ | 4,924 |  |  | $ | 6,071 |
MIB stock | 151 |  |  | 151 |
Equity securities with readily determinable fair values | 74 |  |  | 78 |
Total other investment securities | $ | 5,149 |  |  | $ | 6,300 |
Schedule of Unrealized Losses | 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 December 31, 2024 and December 31, 2023 were as follows:
| Less than 12 months |  | 12 months or more |  | Total Fair Value |  | Total Unrealized Losses
(dollars in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  |
At December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 4,915 |  |  | $ | (22) |  |  | $ | — |  |  | $ | — |  |  | $ | 4,915 |  |  | $ | (22) |
U.S. government and federal agency obligations | — |  |  | — |  |  | 401 |  |  | (7) |  |  | 401 |  |  | (7) |
U.S. government-sponsored enterprises | 996 |  |  | (5) |  |  | 1,778 |  |  | (222) |  |  | 2,774 |  |  | (227) |
Obligations of states and political subdivisions | 2,791 |  |  | (163) |  |  | 98,442 |  |  | (22,917) |  |  | 101,233 |  |  | (23,080) |
Mortgage-backed securities | 37,759 |  |  | (563) |  |  | 33,612 |  |  | (6,115) |  |  | 71,371 |  |  | (6,678) |
Other debt securities | 4,900 |  |  | (58) |  |  | 9,101 |  |  | (723) |  |  | 14,001 |  |  | (781) |
Bank issued trust preferred securities | — |  |  | — |  |  | 1,249 |  |  | (237) |  |  | 1,249 |  |  | (237) |
Total | $ | 51,361 |  |  | $ | (811) |  |  | $ | 144,583 |  |  | $ | (30,221) |  |  | $ | 195,944 |  |  | $ | (31,032) |
(in thousands) |  |  |  |  |  |  |  |  |  |  |
At 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) |
Schedule of Components of Investment Securities Gains and Losses | The following table presents the gross realized gains and losses from sales and calls of available-for-sale securities, as well as gains and losses on equity securities from fair value adjustments which have been recognized in earnings:
(dollars in thousands) | 2024 |  | 2023 |  | 2022
Available-for-sale securities: |  |  |  |  |
Gross realized gains | $ | — |  | $ | — |  | $ | —
Gross realized losses | — |  | (11,562) |  | —
Credit losses recognized | — |  | — |  | —
Other investment securities: |  |  |  |  |
Fair value adjustments, net | (4) |  | 32 |  | (14)
Certificates of deposit: |  |  |  |  |
Gross realized gains | — |  | — |  | —
Gross realized losses | — |  | (17) |  | —
Investment securities (losses) gains, net | $ | (4) |  | $ | (11,547) |  | $ | (14)

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 realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
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