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Securities (Tables)

12 Months Ended

Dec. 31, 2023

Debt Securities, Available-for-Sale [Abstract]

Amortized Costs And Fair Values Of Securities Available For Sale

Amortized costs and fair values of securities available for sale at December 31, 2023 and 2022 were as follows:

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
		December 31, 2023
		(in thousands)
Obligations of U.S. government corporations and agencies		$	9,258			$	—			$	(667	)		$	8,591
Mortgage-backed securities			140,052				—				(21,230	)			118,822
Obligations of states and political subdivisions			6,191				1				(261	)			5,931
Subordinated debt			4,750				—				(651	)			4,099
		$	160,251			$	1			$	(22,809	)		$	137,443

		December 31, 2022
		(in thousands)
Obligations of U.S. government corporations and agencies		$	9,993			$	—			$	(858	)		$	9,135
Mortgage-backed securities			153,289				—				(24,136	)			129,153
Obligations of states and political subdivisions			7,027				2				(422	)			6,607
Subordinated debt			4,750				—				(489	)			4,261
		$	175,059			$	2			$	(25,905	)		$	149,156

Schedule Composition Of Restricted Investments

Carrying amounts of restricted securities at December 31, 2023 and 2022 were as follows:

		December 31, 2023				December 31, 2022
		(in thousands)
Federal Reserve Bank Stock		$	344			$	944
Federal Home Loan Bank Stock			9,084				8,149
Community Bankers’ Bank Stock			140				140
		$	9,568			$	9,233

Investments Classified by Contractual Maturity Date

The amortized cost and fair value of securities available for sale at December 31, 2023, by contractual maturity, are shown below. Maturities may differ from contractual maturities primarily in mortgage-backed securities (others could be called) because the mortgages underlying the securities may be called or repaid without any penalties.

		Amortized Cost				Fair Value
		(in thousands)
Due in one year or less		$	1,268			$	1,256
Due after one year through five years			6,114				5,799
Due after five years through ten years			19,434				17,568
Due after ten years			133,435				112,820
		$	160,251			$	137,443

Fair Value And Gross Unrealized Losses For Securities Available For Sale

The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2023 and 2022 were as follows:

		Less than 12 months								12 months or more								Total
		Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses
		December 31, 2023
		(in thousands)
Obligations of U.S. government corporations and agencies		$	—			$	—			$	8,591			$	667			$	8,591			$	667
Mortgage-backed securities			—				—				118,822				21,230				118,822				21,230
Obligations of states and political subdivisions			—				—				5,430				261				5,430				261
Subordinated debt			221				29				3,378				622				3,599				651
		$	221			$	29			$	136,221			$	22,780			$	136,442			$	22,809
		Less than 12 months								12 months or more								Total
		Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses				Fair Value				Gross Unrealized Losses
		December 31, 2022
		(in thousands)
Obligations of U.S. government corporations and agencies		$	6,140			$	543			$	2,994			$	315			$	9,134			$	858
Mortgage-backed securities			31,771				4,052				97,382				20,084				129,153				24,136
Obligations of states and political subdivisions			6,065				422				—				—				6,065				422
Subordinated debt			2,431				319				1,080				170				3,511				489
		$	46,407			$	5,336			$	101,456			$	20,569			$	147,863			$	25,905

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Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

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Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-6

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