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INVESTMENT SECURITIES (Tables)
3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The amortized cost, estimated fair value and related unrealized gains and losses on securities available for sale and held to maturity as of March 31, 2023 and December 31, 2022, respectively, were as follows:
Available for sale securitiesAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
March 31, 2023
U.S. government agency obligations$25,213 $153 $184 $25,182 
Mortgage-backed securities96,020 — 17,061 78,959 
Corporate debt securities47,141 — 4,926 42,215 
Corporate asset-based securities27,933 11 877 27,067 
Total available for sale securities$196,307 $164 $23,048 $173,423 
December 31, 2022
U.S. government agency obligations$18,373 $173 $233 $18,313 
Mortgage-backed securities97,458 — 18,848 78,610 
Corporate debt securities44,636 — 4,385 40,251 
Corporate asset-based securities29,877 — 1,060 28,817 
Total available for sale securities$190,344 $173 $24,526 $165,991 
Schedule of Held-to-Maturity Securities
Held to maturity securitiesAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
March 31, 2023
Obligations of states and political subdivisions$600 $— $45 $555 
Mortgage-backed securities94,701 18,082 76,628 
Total held to maturity securities$95,301 $$18,127 $77,183 
December 31, 2022
Obligations of states and political subdivisions$600 $— $54 $546 
Mortgage-backed securities95,779 19,553 76,233 
Total held to maturity securities$96,379 $$19,607 $76,779 
Schedule of Maturity of Securities
The estimated fair value of securities at March 31, 2023 and December 31, 2022, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities on mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Expected maturities may differ from contractual maturities on certain agency and municipal securities due to the call feature.
March 31, 2023December 31, 2022
Available for sale securitiesAmortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less$— $— $— $— 
Due after one year through five years11,624 11,300 8,525 8,184 
Due after five years through ten years48,688 43,988 45,622 41,427 
Due after ten years39,975 39,176 38,739 37,770 
Total securities with contractual maturities$100,287 $94,464 $92,886 $87,381 
Mortgage-backed securities96,020 78,959 97,458 78,610 
Total available for sale securities$196,307 $173,423 $190,344 $165,991 

March 31, 2023December 31, 2022
Held to maturity securitiesAmortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less$100 $97 $— $— 
Due after one year through five years500 458 450 415 
Due after five years through ten years— — 150 131 
Total securities with contractual maturities600 555 600 546 
Mortgage-backed securities94,701 76,628 95,779 76,233 
Total held to maturity securities$95,301 $77,183 $96,379 $76,779 
Schedule of Available-for-Sale Securities with Unrealized Losses
Securities with unrealized losses at March 31, 2023 and December 31, 2022, 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
March 31, 2023
U.S. government agency obligations$5,015 $$2,923 $177 $7,938 $184 
Mortgage-backed securities— — 78,934 17,061 78,934 17,061 
Corporate debt securities17,080 1,070 25,135 3,856 42,215 4,926 
Corporate asset-based securities— — 25,801 877 25,801 877 
Total$22,095 $1,077 $132,793 $21,971 $154,888 $23,048 
December 31, 2022
U.S. government agency obligations$3,169 $138 $1,138 $95 $4,307 $233 
Mortgage backed securities9,654 896 68,907 17,952 78,561 18,848 
Corporate debt securities21,547 1,688 18,704 2,697 40,251 4,385 
Corporate asset-based securities7,955 221 20,862 839 28,817 1,060 
Total $42,325 $2,943 $109,611 $21,583 $151,936 $24,526 
Schedule of Held-to-Maturity Securities with Unrealized Losses
 Less than 12 Months12 Months or MoreTotal
Held to maturity securitiesFair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
March 31, 2023
Obligations of states and political subdivisions$— $— $555 $45 $555 $45 
Mortgage-backed securities365 76,035 18,073 76,400 18,082 
Total$365 $$76,590 $18,118 $76,955 $18,127 
December 31, 2022
Obligations of states and political subdivisions$— $— $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