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INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT SECURITIES INVESTMENT SECURITIES
The amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale and held to maturity as of December 31, 2022 and December 31, 2021, respectively, were as follows:
Available for sale securitiesAmortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
December 31, 2022
U.S. government agency obligations$18,373 $173 $233 $18,313 
Obligations of states and political subdivisions— — — — 
Mortgage-backed securities97,458 — 18,848 78,610 
Corporate debt securities44,636 — 4,385 40,251 
Corporate asset-backed securities29,877 — 1,060 28,817 
Total available for sale securities$190,344 $173 $24,526 $165,991 
December 31, 2021
U.S. government agency obligations$25,826 $440 $1 $26,265 
Obligations of states and political subdivisions140 — — 140 
Mortgage-backed securities107,636 409 878 107,167 
Corporate debt securities35,342 403 157 35,588 
Corporate asset-backed securities33,902 133 127 33,908 
Total available for sale securities$202,846 $1,385 $1,163 $203,068 

Held to maturity securitiesAmortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
December 31, 2022
Obligations of states and political subdivisions$600 $— $54 $546 
Mortgage-backed securities95,779 7 19,553 76,233 
Total held to maturity securities$96,379 $7 $19,607 $76,779 
December 31, 2021
Obligations of states and political subdivisions$4,600 $— $7 $4,593 
Mortgage-backed securities66,541 104 2,061 64,584 
Total held to maturity securities$71,141 $104 $2,068 $69,177 
At December 31, 2022, the Bank has pledged certain of its mortgage-backed securities with a carrying value of $5,421 as collateral to secure a line of credit with the Federal Reserve Bank. As of December 31, 2022, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of December 31, 2022, the Bank has pledged certain of its U.S. Government Agency securities with a carrying value of $2,602 and mortgage-backed securities with a carrying value of $2,219 as collateral against specific municipal deposits. As of December 31, 2022, the Bank also has mortgage-backed securities with a carrying value of $142 pledged as collateral to the Federal Home Loan Bank of Des Moines.
At December 31, 2021, the Bank has pledged certain of its mortgage-backed securities with a carrying value of $863 as collateral to secure a line of credit with the Federal Reserve Bank. As of December 31, 2021, there were no borrowings outstanding on this Federal Reserve Bank line of credit. As of December 31, 2021, the Bank has pledged certain of its U.S. Government Agency securities with a carrying value of $3,934 and mortgage-backed securities with a carrying value of $2,879 as collateral against specific municipal deposits. As of December 31, 2021, the Bank also has mortgage-backed securities with a carrying value of $267 pledged as collateral to the Federal Home Loan Bank of Des Moines.
For the twelve months ended December 31, 2022, there were no sales of available for sale securities.
For the twelve months ended December 31, 2021, gross sales of available for sale securities were $38,239, gross gains on sale of available for sale securities were $646, and gross losses on sale of available for sale securities were $73.
The estimated fair value of available for sale securities at December 31, 2022 and December 31, 2021, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities on mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Expected maturities may differ from contractual maturities on certain agency and securities due to the call feature.
December 31, 2022December 31, 2021
Available for sale securitiesAmortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Due in one year or less$— $— $140 $140 
Due after one year through five years8,525 8,184 4,903 4,971 
Due after five years through ten years45,622 41,427 40,410 40,818 
Due after ten years38,739 37,770 49,757 49,972 
Total securities with contractual maturities92,886 87,381 95,210 95,901 
Mortgage-backed securities97,458 78,610 107,636 107,167 
Total available for sale securities$190,344 $165,991 $202,846 $203,068 

December 31, 2022December 31, 2021
Held to maturity securitiesAmortized
Cost		Estimated
Fair Value		Amortized
Cost		Estimated
Fair Value
Due after one year through five years$450 $415 $4,300 $4,298 
Due after five years through ten years150 131 300 295 
Total securities with contractual maturities600 546 4,600 4,593 
Mortgage-backed securities95,779 76,233 66,541 64,584 
Total held to maturity securities$96,379 $76,779 $71,141 $69,177 

Securities with unrealized losses at December 31, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:
 
 Less than 12 Months12 Months or MoreTotal
Available for sale securitiesFair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
December 31, 2022
U.S. government agency obligations$3,169 $138 $1,138 $95 $4,307 $233 
Mortgage-backed securities9,654 896 68,907 17,952 78,561 18,848 
Corporate debt securities21,547 1,688 18,704 2,697 40,251 4,385 
Corporate asset-backed securities7,955 221 20,862 839 28,817 1,060 
Total$42,325 $2,943 $109,611 $21,583 $151,936 $24,526 
December 31, 2021
U.S. government agency obligations$1,169 $1 $— $— $1,169 $1 
Mortgage-backed securities89,010 878 — — 89,010 878 
Corporate debt securities17,240 142 735 15 17,975 157 
Corporate asset-backed securities19,296 127 — — 19,296 127 
Total$126,715 $1,148 $735 $15 $127,450 $1,163 
 Less than 12 Months12 Months or MoreTotal
Held to maturity securitiesFair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
December 31, 2022
Obligations of states and political subdivisions$— $— $546 $54 $546 $54 
Mortgage-backed securities16,627 2,416 59,367 17,137 75,994 19,553 
Total $16,627 $2,416 $59,913 $17,191 $76,540 $19,607 
December 31, 2021
Obligations of states and political subdivisions$593 $7 $— $— $593 $7 
Mortgage-backed securities46,969 1,346 14,716 715 61,685 2,061 
Total$47,562 $1,353 $14,716 $715 $62,278 $2,068 
    The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. As part of such monitoring, the credit quality of individual securities and their issuer is assessed. Significant inputs used to measure the amount of other-than-temporary impairment related to credit loss include, but are not limited to: the Company’s intent and ability to sell the debt security prior to recovery, that it is more likely than not that the Company will not sell the security prior to recovery, default and delinquency rates of the underlying collateral, remaining credit support, and historical loss severities. Adjustments to market value of available for sale securities that are considered temporary are recorded as separate components of shareholders’ equity, net of tax. If the unrealized loss of a security is identified as other-than-temporary based on information available, such as the decline in the creditworthiness of the issuer, external market ratings, or the anticipated or realized elimination of associated dividends, such impairments are further analyzed to determine if credit loss exists. If there is a credit loss, it will be recorded in the Company’s consolidated statement of operations. Non-credit components of the unrealized losses on available for sale securities will continue to be recognized in other comprehensive income (loss), net of tax. Unrealized losses reflected in the preceding tables have not been included in results of operations because the unrealized loss was not deemed other-than-temporary. Management has determined that more likely than not, the Company neither intends to sell, nor will it be required to sell each debt security before its anticipated recovery, and therefore recovery of cost will occur.