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INVESTMENT SECURITIES (Tables)
9 Months Ended
Sep. 30, 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 September 30, 2023 and December 31, 2022, respectively, were as follows:
Available for sale securitiesAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
September 30, 2023
U.S. government agency obligations$17,452 $89 $223 $17,318 
Mortgage-backed securities92,722 — 22,991 69,731 
Corporate debt securities47,153 20 6,284 40,889 
Asset-backed securities25,825 27 376 25,476 
Total available for sale securities$183,152 $136 $29,874 $153,414 
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 
Asset-backed 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
September 30, 2023
Obligations of states and political subdivisions$600 $— $48 $552 
Mortgage-backed securities91,736 23,539 68,200 
Total held to maturity securities$92,336 $$23,587 $68,752 
December 31, 2022
Obligations of states and political subdivisions$600 $— $54 $546 
Mortgage-backed securities95,779 19,553 76,233 
Total held to maturity securities$96,379 $$19,607 $76,779 
Schedule of Maturity of Securities
The estimated fair value of securities at September 30, 2023 and December 31, 2022, by contractual maturity, is shown below. Expected maturities will differ from contractual maturities on mortgage-backed securities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Expected maturities may differ from contractual maturities on certain agency and municipal securities due to the call feature.
September 30, 2023December 31, 2022
Available for sale securitiesAmortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less$— $— $— $— 
Due after one year through five years13,850 13,523 8,525 8,184 
Due after five years through ten years43,761 37,639 45,622 41,427 
Due after ten years32,819 32,521 38,739 37,770 
Total securities with contractual maturities90,430 83,683 92,886 87,381 
Mortgage-backed securities92,722 69,731 97,458 78,610 
Total available for sale securities$183,152 $153,414 $190,344 $165,991 

September 30, 2023December 31, 2022
Held to maturity securitiesAmortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less$100 $99 $— $— 
Due after one year through five years500 453 450 415 
Due after five years through ten years— — 150 131 
Total securities with contractual maturities600 552 600 546 
Mortgage-backed securities91,736 68,200 95,779 76,233 
Total held to maturity securities$92,336 $68,752 $96,379 $76,779 
Schedule of Available-for-Sale Securities with Unrealized Losses
Securities with unrealized losses at September 30, 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
September 30, 2023
U.S. government agency obligations$3,961 $— $3,615 $223 $7,576 $223 
Mortgage-backed securities— 69,725 22,991 69,731 22,991 
Corporate debt securities4,602 320 34,372 5,964 38,974 6,284 
Asset-backed securities— — 20,789 376 20,789 376 
Total$8,569 $320 $128,501 $29,554 $137,070 $29,874 
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 
Asset-backed securities7,955 221 20,862 839 28,817 1,060 
Total $42,325 $2,943 $109,611 $21,583 $151,936 $24,526 
Schedule of Held-to-Maturity Securities with Unrealized Losses
 Less than 12 Months12 Months or MoreTotal
Held to maturity securitiesFair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
September 30, 2023
Obligations of states and political subdivisions$— $— $552 $48 $552 $48 
Mortgage-backed securities— — 68,001 23,539 68,001 23,539 
Total$— $— $68,553 $23,587 $68,553 $23,587 
December 31, 2022
Obligations of states and political subdivisions$— $— $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