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Investments (Tables) | 3 Months Ended
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Mar. 31, 2024
Schedule of Investments [Abstract] |
Schedule of Available-for-sale and Held to Maturity Securities | A summary of investment securities available-for-sale and held-to-maturity is as follows: Schedule of Available-for-sale and Held to Maturity Securities
(Dollars in thousands) |  | As of March 31, 2024 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
|  | cost |  |  | gains |  |  | losses |  |  | fair value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. treasury securities |  | $ | 97,535 |  |  | $ | - |  |  | $ | (3,852 | ) |  | $ | 93,683 |
Municipal obligations, tax exempt |  |  | 121,586 |  |  |  | 77 |  |  |  | (3,218 | ) |  |  | 118,445 |
Municipal obligations, taxable |  |  | 79,882 |  |  |  | 129 |  |  |  | (4,640 | ) |  |  | 75,371 |
Agency mortgage-backed securities |  |  | 162,658 |  |  |  | 66 |  |  |  | (12,947 | ) |  |  | 149,777 |
Total available-for-sale |  | $ | 461,661 |  |  | $ | 272 |  |  | $ | (24,657 | ) |  | $ | 437,276 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  | $ | 3,584 |  |  | $ | - |  |  | $ | (480 | ) |  | $ | 3,104 |
Total held-to-maturity |  | $ | 3,584 |  |  | $ | - |  |  | $ | (480 | ) |  | $ | 3,104 |
|  | As of December 31, 2023 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
|  | cost |  |  | gains |  |  | losses |  |  | fair value |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. treasury securities |  | $ | 99,340 |  |  | $ | - |  |  | $ | (3,673 | ) |  | $ | 95,667 |
Municipal obligations, tax exempt |  |  | 122,775 |  |  |  | 186 |  |  |  | (2,338 | ) |  |  | 120,623 |
Municipal obligations, taxable |  |  | 82,926 |  |  |  | 225 |  |  |  | (4,068 | ) |  |  | 79,083 |
Agency mortgage-backed securities |  |  | 169,656 |  |  |  | 247 |  |  |  | (12,507 | ) |  |  | 157,396 |
Total available-for-sale |  | $ | 474,697 |  |  | $ | 658 |  |  | $ | (22,586 | ) |  | $ | 452,769 |
Held-to-maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  | $ | 3,555 |  |  | $ | - |  |  | $ | (506 | ) |  | $ | 3,049 |
Total held-to-maturity |  | $ | 3,555 |  |  | $ | - |  |  | $ | (506 | ) |  | $ | 3,049 |
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value | The following table summarizes available-for-sale securities in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2024 and December 31, 2023 along with the length of time in a continuous loss position. Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value
|  |  |  |  | As of March 31, 2024 |
(Dollars in thousands) |  |  |  |  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | No. of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
Available-for-sale: |  | securities |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |
U.S. treasury securities |  |  | 52 |  |  | $ | 1,959 |  |  | $ | (4 | ) |  | $ | 91,724 |  |  | $ | (3,848 | ) |  | $ | 93,683 |  |  | $ | (3,852 | )
Municipal obligations, tax exempt |  |  | 267 |  |  |  | 22,079 |  |  |  | (193 | ) |  |  | 88,067 |  |  |  | (3,025 | ) |  |  | 110,146 |  |  |  | (3,218 | )
Municipal obligations, taxable |  |  | 115 |  |  |  | 15,016 |  |  |  | (243 | ) |  |  | 55,090 |  |  |  | (4,397 | ) |  |  | 70,106 |  |  |  | (4,640 | )
Agency mortgage-backed securities |  |  | 103 |  |  |  | 10,440 |  |  |  | (21 | ) |  |  | 128,458 |  |  |  | (12,926 | ) |  |  | 138,898 |  |  |  | (12,947 | )
Total for available-for-sale |  |  | 537 |  |  | $ | 49,494 |  |  | $ | (461 | ) |  | $ | 363,339 |  |  | $ | (24,196 | ) |  | $ | 412,833 |  |  | $ | (24,657 | )
|  |  |  |  | As of December 31, 2023 |
|  |  |  |  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
|  | No. of |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
Available-for-sale: |  | securities |  |  | value |  |  | losses |  |  | value |  |  | losses |  |  | value |  |  | losses |
U.S. treasury securities |  |  | 47 |  |  | $ | 1,129 |  |  | $ | (7 | ) |  | $ | 93,833 |  |  | $ | (3,666 | ) |  | $ | 94,962 |  |  | $ | (3,673 | )
Municipal obligations, tax exempt |  |  | 229 |  |  |  | 31,468 |  |  |  | (337 | ) |  |  | 64,962 |  |  |  | (2,001 | ) |  |  | 96,430 |  |  |  | (2,338 | )
Municipal obligations, taxable |  |  | 110 |  |  |  | 17,278 |  |  |  | (151 | ) |  |  | 52,212 |  |  |  | (3,917 | ) |  |  | 69,490 |  |  |  | (4,068 | )
Agency mortgage-backed securities |  |  | 100 |  |  |  | 6,480 |  |  |  | (68 | ) |  |  | 128,512 |  |  |  | (12,439 | ) |  |  | 134,992 |  |  |  | (12,507 | )
Total for available-for-sale |  |  | 486 |  |  |  | 56,355 |  |  |  | (563 | ) |  |  | 339,519 |  |  |  | (22,023 | ) |  |  | 395,874 |  |  |  | (22,586 | )
Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities | Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities
(Dollars in thousands) |  | 2024 |  |  | 2023 |
|  | Three months ended March 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
Balance at January 1, |  | $ | 91 |  |  | $ | - |
Balance |  | $ | 91 |  |  | $ | - |
Impact of adopting ASC 326 |  |  | - |  |  |  | 72 |
Provision for credit losses |  |  | - |  |  |  | 19 |
Balance at March 31, |  | $ | 91 |  |  | $ | 91 |
Balance |  | $ | 91 |  |  | $ | 91 |
Schedule of Investments Classified by Contractual Maturity Date | Schedule of Investments Classified by Contractual Maturity Date
(Dollars in thousands) |  | Amortized |  |  | Estimated |
Available-for-sale: |  | cost |  |  | fair value |
Due in less than one year |  | $ | 43,396 |  |  | $ | 42,807 |
Due after one year but within five years |  |  | 216,817 |  |  |  | 204,500 |
Due after five years but within ten years |  |  | 155,502 |  |  |  | 145,894 |
Due after ten years |  |  | 45,946 |  |  |  | 44,075 |
Total available-for-sale |  | $ | 461,661 |  |  | $ | 437,276 |
Held-to-maturity: |  |  |  |  |  |  |  |
Due after one year but within five years |  |  | 3,584 |  |  |  | 3,104 |
Total held-to-maturity |  | $ | 3,584 |  |  | $ | 3,104 |

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