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Available-For-Sale Securities (Tables) | 9 Months Ended
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Sep. 30, 2024
Available-for-Sale Securities [Abstract] |
Schedule of Amortized Cost and Appropriate Fair Values, Together With Gross Unrealized Gains and Losses, of Securities | The amortized cost and appropriate fair values, together with gross unrealized gains and losses, of securities at September 30, 2024, and December 31, 2023, were as follows:
($ in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and Government agencies |  | $ | 6,687 |  |  | $ | 1 |  |  | $ | (592 | ) |  | $ | 6,096 |
Mortgage-backed securities |  |  | 207,956 |  |  |  | 6 |  |  |  | (27,490 | ) |  |  | 180,472 |
State and political subdivisions |  |  | 11,148 |  |  |  | - |  |  |  | (1,080 | ) |  |  | 10,068 |
Other corporate securities |  |  | 17,200 |  |  |  | - |  |  |  | (2,325 | ) |  |  | 14,875 |
Totals |  | $ | 242,991 |  |  | $ | 7 |  |  | $ | (31,487 | ) |  | $ | 211,511 |
|  |  | Amortized Cost |  |  |  | Gross Unrealized Gains |  |  |  | Gross Unrealized Losses |  |  |  | Fair Value |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and Government agencies |  | $ | 7,339 |  |  | $ | 1 |  |  | $ | (823 | ) |  | $ | 6,517 |
Mortgage-backed securities |  |  | 221,717 |  |  |  | 3 |  |  |  | (32,853 | ) |  |  | 188,867 |
State and political subdivisions |  |  | 11,212 |  |  |  | 8 |  |  |  | (1,322 | ) |  |  | 9,898 |
Other corporate securities |  |  | 17,200 |  |  |  | - |  |  |  | (2,774 | ) |  |  | 14,426 |
Totals |  | $ | 257,468 |  |  | $ | 12 |  |  | $ | (37,772 | ) |  | $ | 219,708 |
Schedule of Amortized Cost and Fair Value of Securities Available-For-Sale | The amortized cost and fair value of securities available-for-sale at September 30, 2024, by contractual maturity, are shown below.
|  | Amortized |  |  | Fair |
($ in thousands) |  | Cost |  |  | Value |
Within one year |  | $ | 950 |  |  | $ | 948 |
Due after one year through five years |  |  | 1,126 |  |  |  | 1,104 |
Due after five years through ten years |  |  | 25,396 |  |  |  | 22,376 |
Due after ten years |  |  | 7,563 |  |  |  | 6,611 |
|  |  | 35,035 |  |  |  | 31,039 |
Mortgage-backed securities |  |  | 207,956 |  |  |  | 180,472 |
Totals |  | $ | 242,991 |  |  | $ | 211,511 |
Schedule of Securities With Unrealized Losses | Securities with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2024, and December 31, 2023, are as follows:
($ in thousands) |  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
September 30, 2024 |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
U.S. Treasury and Government agencies |  | $ | - |  |  | $ | - |  |  | $ | 5,599 |  |  | $ | (592 | ) |  | $ | 5,599 |  |  | $ | (592 | )
Mortgage-backed securities |  |  | - |  |  |  | - |  |  |  | 180,131 |  |  |  | (27,490 | ) |  |  | 180,131 |  |  |  | (27,490 | )
State and political subdivisions |  |  | 933 |  |  |  | (5 | ) |  |  | 8,731 |  |  |  | (1,075 | ) |  |  | 9,664 |  |  |  | (1,080 | )
Other corporate securities |  |  | 365 |  |  |  | (135 | ) |  |  | 14,510 |  |  |  | (2,190 | ) |  |  | 14,875 |  |  |  | (2,325 | )
Totals |  | $ | 1,298 |  |  | $ | (140 | ) |  | $ | 208,971 |  |  | $ | (31,347 | ) |  | $ | 210,269 |  |  | $ | (31,487 | )
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
December 31, 2023 |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
U.S. Treasury and Government agencies |  | $ | - |  |  | $ | - |  |  | $ | 6,022 |  |  | $ | (823 | ) |  | $ | 6,022 |  |  | $ | (823 | )
Mortgage-backed securities |  |  | - |  |  |  | - |  |  |  | 188,508 |  |  |  | (32,853 | ) |  |  | 188,508 |  |  |  | (32,853 | )
State and political subdivisions |  |  | - |  |  |  | - |  |  |  | 8,541 |  |  |  | (1,322 | ) |  |  | 8,541 |  |  |  | (1,322 | )
Other corporate securities |  |  | - |  |  |  | - |  |  |  | 13,926 |  |  |  | (2,774 | ) |  |  | 13,926 |  |  |  | (2,774 | )
Totals |  | $ | - |  |  | $ | - |  |  | $ | 216,997 |  |  | $ | (37,772 | ) |  | $ | 216,997 |  |  | $ | (37,772 | )

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