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INVESTMENT SECURITIES (Tables)
6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available for Sale Securities Reconciliation
The amortized cost and fair value of securities available for sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income as of June 30, 2024 and December 31, 2023, respectively, were as follows:
Available for sale securitiesAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
June 30, 2024
U.S. government agency obligations$15,180 $72 $154 $15,098 
Mortgage-backed securities88,199 — 19,115 69,084 
Corporate debt securities44,919 4,788 40,132 
Asset-backed securities22,196 45 117 22,124 
Total available for sale securities$170,494 $118 $24,174 $146,438 
December 31, 2023
U.S. government agency obligations$16,655 $77 $156 $16,576 
Mortgage-backed securities91,091 — 17,611 73,480 
Corporate debt securities47,158 5,990 41,174 
Asset-backed securities24,840 12 339 24,513 
Total available for sale securities$179,744 $95 $24,096 $155,743 
Schedule of Held to Maturity Securities
The amortized cost and fair value of securities held to maturity and the corresponding amounts of gross unrecognized gains and losses as of June 30, 2024 and December 31, 2023, respectively, were as follows:
Held to maturity securitiesAmortized
Cost
Gross
Unrecognized
Gains
Gross
Unrecognized
Losses
Estimated
Fair Value
June 30, 2024
Obligations of states and political subdivisions$500 $— $31 $469 
Mortgage-backed securities88,105 19,551 68,558 
Total held to maturity securities$88,605 $$19,582 $69,027 
December 31, 2023
Obligations of states and political subdivisions$600 $— $35 $565 
Mortgage-backed securities90,629 17,938 72,697 
Total held to maturity securities$91,229 $$17,973 $73,262 
Schedule of Maturity of Securities
The estimated fair value of securities at June 30, 2024 and December 31, 2023, by contractual maturity, is shown below.
June 30, 2024December 31, 2023
Available for sale securitiesAmortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less$2,500 $2,491 $— $— 
Due after one year through five years11,024 10,823 13,986 13,703 
Due after five years through ten years42,638 37,923 45,549 39,701 
Due after ten years26,133 26,117 29,118 28,859 
Total securities with contractual maturities82,295 77,354 88,653 82,263 
Mortgage-backed securities88,199 69,084 91,091 73,480 
Total available for sale securities$170,494 $146,438 $179,744 $155,743 

June 30, 2024December 31, 2023
Held to maturity securitiesAmortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Due in one year or less$100 $98 $100 $100 
Due after one year through five years400 371 500 465 
Due after five years through ten years— — — — 
Total securities with contractual maturities500 469 600 565 
Mortgage-backed securities88,105 68,558 90,629 72,697 
Total held to maturity securities$88,605 $69,027 $91,229 $73,262 
Schedule of Available for Sale Securities with Unrealized Losses
Securities with unrealized losses at June 30, 2024 and December 31, 2023, 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
June 30, 2024
U.S. government agency obligations$3,429 $$3,491 $150 $6,920 $154 
Mortgage-backed securities— — 69,084 19,115 69,084 19,115 
Corporate debt securities— — 38,212 4,788 38,212 4,788 
Asset-backed securities— — 14,291 117 14,291 117 
Total$3,429 $$125,078 $24,170 $128,507 $24,174 
December 31, 2023
U.S. government agency obligations$3,776 $$3,627 $151 $7,403 $156 
Mortgage-backed securities— $— $73,476 $17,611 $73,476 $17,611 
Corporate debt securities3,350 $76 $35,916 $5,914 $39,266 $5,990 
Asset-backed securities3,348 $22 $20,008 $317 $23,356 $339 
Total $10,474 $103 $133,027 $23,993 $143,501 $24,096