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Securities | 3 Months Ended
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Mar. 31, 2025
Investments debt and equity securities [Abstract] |
Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure Text Block | NOTE 3: SECURITIES At March 31, 2025 and December 31, 2024, respectively, all securities within the scope of ASC 320, Investments – Debt and Equity Securities, were classified as available-for-sale. The fair value and amortized cost for securities available-for- sale by contractual maturity at March 31, 2025 and December 31, 2024, respectively, are presented below. 1 year 1 to 5 5 to 10 After 10 Fair Gross Unrealized Amortized (Dollars in thousands) or less years years years Value Gains Losses Cost March 31, 2025 Agency obligations (a) $ — 26,867 26,052 — 52,919 — 6,343 $ 59,262 Agency MBS (a) 1 19,998 16,181 136,407 172,587 — 24,700 197,287 State and political subdivisions — 1,625 7,763 7,574 16,962 — 2,836 19,798 Total available-for-sale $ 1 48,490 49,996 143,981 242,468 — 33,879 $ 276,347 December 31, 2024 Agency obligations (a) $ — 26,655 25,756 — 52,411 — 7,734 $ 60,145 Agency MBS (a) 10 19,863 14,904 138,899 173,676 — 28,901 202,577 State and political subdivisions — 966 8,244 7,715 16,925 — 2,901 19,826 Total available-for-sale $ 10 47,484 48,904 146,614 243,012 — 39,536 $ 282,548 (a) Includes securities issued by U.S. government agencies or government -sponsored entities. Expected lives of these securities may differ from contractual maturities because (i) issuers may have the right to call or repay such securities obligations with or without prepayment penalties and (ii) borrowers of the loans included in Agency MBS generally have the right to prepay such loan in whole or in part at any time. Securities with aggregate fair values of $ 229.5 million and $ 222.3 at March 31, 2025 and December 31, 2024, respectively, were pledged to secure public deposits, securities sold under agreements to repurchase, FHLB advances, and for other purposes required or permitted by law. Included in other assets on the accompanying consolidated balance sheets include non-marketable equity investments. The carrying amounts of non-marketable equity investments were $ 1.4 million at March 31, 2025 and December 31, 2024, respectively. Non-marketable equity investments include FHLB of Atlanta stock, Federal Reserve Bank of Atlanta (“FRB”) stock, and stock in a privately held financial institution. Gross Unrealized Losses and Fair Value The fair values and gross unrealized losses on securities at March 31, 2025 and December 31, 2024, respectively, segregated by those securities that have been in an unrealized loss position for less than 12 months and 12 months or longer, are presented below. Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses March 31, 2025: Agency obligations $ — — 52,919 6,343 $ 52,919 6,343 Agency MBS 2 — 172,585 24,700 172,587 24,700 State and political subdivisions 1,772 42 14,840 2,794 16,612 2,836 Total $ 1,774 42 240,344 33,837 $ 242,118 33,879 December 31, 2024: Agency obligations $ — — 52,411 7,734 $ 52,411 7,734 Agency MBS 7 — 173,669 28,901 173,676 28,901 State and political subdivisions 1,798 17 14,776 2,884 16,574 2,901 Total $ 1,805 17 240,856 39,519 $ 242,661 39,536 For the securities in the previous table, the Company assesses whether or not it intends to sell the security, or more likely than not will be required to sell the security, before recovery of its amortized cost basis which would require a write-down to fair value through net income. Because the Company currently does not intend to sell those securities that have an unrealized loss at March 31, 2025, and it is not more-likely-than-not that the Company will be required to sell the securities before recovery of their amortized cost bases, which may be maturity, the Company has determined that no write-down is necessary. In addition, the Company evaluates whether any portion of the decline in fair value of securities is the result of credit deterioration, which would require the recognition of an allowance for credit losses. Such evaluations consider the extent to which the amortized cost of the security exceeds its fair value, changes in credit ratings and any other known adverse conditions related to the specific security. The unrealized losses associated with securities at March 31, 2025 are driven by changes in interest rates and are not due to the credit quality of the securities, and accordingly, no allowance for credit losses is considered necessary related to securities at March 31, 2025. These securities will continue to be monitored as a part of the Company’s ongoing evaluation of credit quality. Management evaluates the financial performance of the issuers on a quarterly basis to determine if it is probable that the issuers can make all contractual principal and interest payments. Realized Gains and Losses The Company had no realized gains or losses on sale of securities during the quarter ended March 31, 2025 and 2024, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
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