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Investments (Tables)
 3 Months Ended
Mar. 31, 2025
Schedule of Investments [Abstract]  
Schedule of Available-for-sale and Held to Maturity Securities

A summary of the Company’s investment securities classified as available-for-sale and held-to-maturity as of March 31, 2025 and December 31, 2024 is as follows:

  

(Dollars in thousands)  As of March 31, 2025 
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
   cost   gains   losses   fair value 
Available-for-sale:                    
U. S. treasury securities  $58,836   $278   $(690)  $58,424 
Municipal obligations, tax exempt   106,240    29    (4,457)   101,812 
Municipal obligations, taxable   73,962    132    (3,480)   70,614 
Agency mortgage-backed securities   134,076    135    (9,069)   125,142 
Total available-for-sale  $373,114   $574   $(17,696)  $355,992 
                     
Held-to-maturity:                    
Other  $3,701   $-   $(262)  $3,439 
Total held-to-maturity  $3,701   $-   $(262)  $3,439 

 

   As of December 31, 2024 
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
   cost   gains   losses   fair value 
Available-for-sale:                    
U. S. treasury securities  $65,349   $53   $(944)  $64,458 
Municipal obligations, tax exempt   111,196    47    (4,115)   107,128 
Municipal obligations, taxable   76,200    70    (4,555)   71,715 
Agency mortgage-backed securities   140,651    40    (11,480)   129,211 
Total available-for-sale  $393,396   $210   $(21,094)  $372,512 
                     
Held-to-maturity:                    
Other  $3,672   $-   $(382)  $3,290 
Total held-to-maturity  $3,672   $-   $(382)  $3,290 
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, 2025 and December 31, 2024 along with the length of time each category of securities has been in a continuous loss position:

  

       As of March 31, 2025 
(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   22   $688   $(2)  $39,801   $(688)  $40,489   $(690)
Municipal obligations, tax exempt   243    12,812    (299)   85,040    (4,158)   97,852    (4,457)
Municipal obligations, taxable   104    18,548    (308)   45,921    (3,172)   64,469    (3,480)
Agency mortgage-backed securities   98    5,301    (97)   102,371    (8,972)   107,672    (9,069)
Total for available-for-sale   467   $37,349   $(706)  $273,133   $(16,990)  $310,482   $(17,696)

 

       As of December 31, 2024 
       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   22   $1,558   $-   $43,327   $(944)  $44,885   $(944)
Municipal obligations, tax exempt   254    16,754    (311)   86,409    (3,804)   103,163    (4,115)
Municipal obligations, taxable   107    22,201    (726)   45,285    (3,829)   67,486    (4,555)
Agency mortgage-backed securities   102    18,875    (223)   105,615    (11,257)   124,490    (11,480)
Total for available-for-sale   485    59,388    (1,260)   280,636    (19,834)   340,024    (21,094)
Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities

  

           
   Three months ended 
   March 31, 
(Dollars in thousands)  2025   2024 
Balance at January 1,  $91   $91 
Provision for credit losses   -    - 
Balance at March 30,  $91   $91 
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  $29,015   $28,812 
Due after one year but within five years   210,155    201,011 
Due after five years but within ten years   104,394    98,476 
Due after ten years   29,550    27,693 
Total available-for-sale  $373,114   $355,992 
           
Held-to-maturity:          
Due after one year but within five years   3,701    3,439 
Total held-to-maturity  $3,701   $3,439 
Schedule of Realized Gain (loss)

Sale proceeds and gross realized gains and losses on sales of available-for-sale securities were as follows for the three months ended March 31, 2025 and March 31, 2024:

  

   2025   2024 
(Dollars in thousands)  Three months ended March 31, 
   2025   2024 
         
Sales proceeds  $3,394   $- 
           
Realized gains  $22   $- 
Realized losses   (24)   - 
Net realized losses  $(2)  $-