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Securities | 12 Months Ended
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Dec. 31, 2022
Securities |
Securities | Note 3: Securities The amortized cost and approximate fair values, together with gross unrealized gains and losses of securities are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value
​ | ​ | (In thousands)
Available-for-sale Securities: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
December 31, 2022: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government agencies | ​ | $ | 45,000 | ​ | $ | — | ​ | $ | (968) | ​ | $ | 44,032
Subordinated notes | ​ | ​ | 31,160 | ​ | ​ | — | ​ | ​ | (3,066) | ​ | ​ | 28,094
State and municipal obligations | ​ | ​ | 152,447 | ​ | ​ | 459 | ​ | ​ | (7,408) | ​ | ​ | 145,498
Total debt securities | ​ | $ | 228,607 | ​ | $ | 459 | ​ | $ | (11,442) | ​ | $ | 217,624
Available-for-sale Securities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
December 31, 2021: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
U.S. government agencies | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Subordinated notes | ​ | ​ | 28,837 | ​ | ​ | 76 | ​ | ​ | (148) | ​ | ​ | 28,765
State and municipal obligations | ​ | ​ | 106,533 | ​ | ​ | 11,015 | ​ | ​ | — | ​ | ​ | 117,548
Total debt securities | ​ | $ | 135,370 | ​ | $ | 11,091 | ​ | $ | (148) | ​ | $ | 146,313
​ There were no sales of investment securities during 2022. During 2021, the Company sold $11.4 million of State and Municipal securities for a total gain of approximately $1,250,000. The amortized cost and fair value of available-for-sale securities at December 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Amortized |  | Fair
​ | ​ | Cost | ​ | Value
​ | ​ | (In thousands)
One to five years | ​ | $ | 45,651 | ​ | $ | 44,484
Five to ten years | ​ |  | 33,440 | ​ | ​ | 30,414
Over ten years | ​ |  | 149,516 | ​ | ​ | 142,726
Totals | ​ | $ | 228,607 | ​ | $ | 217,624
​ The carrying value of securities pledged as collateral, to secure public deposits and for other purposes, was $68.7 million and $64.4 million at December 31, 2022 and 2021, respectively. Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. The total fair value of these investments at December 31, 2022 and 2021, was $166.1 million and $14.2 million, which represented approximately 76% and approximately 10%, respectively, of the Company’s available-for-sale investment portfolio. Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. The following tables show the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
Description of |  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
Securities | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
​ | ​ | (In thousands)
US government agencies | ​ | $ | 44,032 | ​ | $ | (968) | ​ | $ | — | ​ | $ | — | ​ | $ | 44,032 | ​ | $ | (968)
Subordinated notes | ​ | ​ | 11,185 | ​ | ​ | (1,565) | ​ | ​ | 10,300 | ​ | ​ | (1,501) | ​ | ​ | 21,485 | ​ | ​ | (3,066)
State and municipal obligations | ​ | ​ | 100,599 | ​ | ​ | (7,408) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 100,599 | ​ | ​ | (7,408)
Total temporarily impaired securities | ​ | $ | 155,816 | ​ | $ | (9,941) | ​ | $ | 10,300 | ​ | $ | (1,501) | ​ | $ | 166,116 | ​ | $ | (11,442)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | Less than 12 Months | ​ | 12 Months or More | ​ | Total
Description of |  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
Securities | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses | ​ | Value | ​ | Losses
​ | ​ | (In thousands)
US government agencies | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Subordinated notes | ​ | ​ | 14,204 | ​ | ​ | (148) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 14,204 | ​ | ​ | (148)
State and municipal obligations | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total temporarily impaired securities | ​ | $ | 14,204 | ​ | $ | (148) | ​ | $ | — | ​ | $ | — | ​ | $ | 14,204 | ​ | $ | (148)
​ The unrealized losses on the Company’s investments in US government agencies, state and municipal obligations, and subordinated notes were caused by interest rate increases. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2022.

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