XML 43 R35.htm IDEA: XBRL DOCUMENT

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities Available-for-Sale and Held-to-Maturity

Details of investment securities available-for-sale and held-to-maturity as of December 31, 2023 and 2022 were as follows:


		Available-for-Sale
		December 31, 2023
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
		(Dollars in Thousands)
Mortgage-backed securities:
Residential		$	47,221			$	580			$	(3,073	)		$	44,728
Commercial			9,446				—				(406	)			9,040
Obligations of U.S. government-sponsored agencies			11,849				158				(727	)			11,280
Obligations of states and political subdivisions			1,621				—				(63	)			1,558
Corporate notes			17,757				—				(2,800	)			14,957
U.S. Treasury securities			56,999				—				(2,997	)			54,002
Total		$	144,893			$	738			$	(10,066	)		$	135,565


		Held-to-Maturity
		December 31, 2023
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
		(Dollars in Thousands)
Mortgage-backed securities:
Commercial		$	575			$	—			$	(22	)		$	553
Obligations of U.S. government-sponsored agencies			471				—				(34	)			437
Obligations of states and political subdivisions			58				—				(7	)			51
Total		$	1,104			$	—			$	(63	)		$	1,041


		Available-for-Sale
		December 31, 2022
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
		(Dollars in Thousands)
Mortgage-backed securities:
Residential		$	47,659			$	2			$	(3,704	)		$	43,957
Commercial			12,169				4				(480	)			11,693
Obligations of U.S. government-sponsored agencies			5,116				—				(846	)			4,270
Obligations of states and political subdivisions			2,166				—				(94	)			2,072
Corporate notes			17,817				2				(1,898	)			15,921
U.S. Treasury securities			56,956				—				(4,074	)			52,882
Total		$	141,883			$	8			$	(11,096	)		$	130,795


		Held-to-Maturity
		December 31, 2022
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
		(Dollars in Thousands)
Mortgage-backed securities:
Commercial		$	1,167			$	—			$	(41	)		$	1,126
Obligations of U.S. government-sponsored agencies			610				—				(40	)			570
Obligations of states and political subdivisions			85				—				(12	)			73
Total		$	1,862			$	—			$	(93	)		$	1,769

Maturities of Investment Securities Available-for-Sale and Held-to-Maturity

The scheduled maturities of investment securities available-for-sale and held-to-maturity as of December 31, 2023 are presented in the following table:


		Available-for-Sale								Held-to-Maturity
		Amortized Cost				Estimated Fair Value				Amortized Cost				Estimated Fair Value
		(Dollars in Thousands)
Maturing within one year		$	12,994			$	12,895			$	—			$	—
Maturing after one to five years			53,070				49,767				249				241
Maturing after five to ten years			58,413				52,506				660				620
Maturing after ten years			20,416				20,397				195				180
Total		$	144,893			$	135,565			$	1,104			$	1,041

Schedule of Unrealized Loss on Investments

The following table reflects 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, as of December 31, 2023 and 2022:


		Available-for-Sale
		December 31, 2023
		Less than 12 Months								12 Months or More
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(Dollars in Thousands)
Mortgage-backed securities:
Residential		$	94			$	(1	)		$	35,584			$	(3,072	)
Commercial			600				(5	)			8,408				(401	)
Obligations of U.S. government-sponsored agencies			—				—				4,367				(727	)
Obligations of states and political subdivisions			—				—				1,558				(63	)
Corporate notes			771				(229	)			14,186				(2,571	)
U.S. Treasury securities			—				—				54,002				(2,997	)
Total		$	1,465			$	(235	)		$	118,105			$	(9,831	)


		Held-to-Maturity
		December 31, 2023
		Less than 12 Months								12 Months or More
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(Dollars in Thousands)
Mortgage-backed securities:
Commercial		$	—			$	—			$	553			$	(22	)
Obligations of U.S. government-sponsored agencies			—				—				436				(34	)
Obligations of states and political subdivisions			—				—				52				(7	)
Total		$	—			$	—			$	1,041			$	(63	)


		Available-for-Sale
		December 31, 2022
		Less than 12 Months								12 Months or More
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(Dollars in Thousands)
Mortgage-backed securities:
Residential		$	19,876			$	(952	)		$	23,903			$	(2,752	)
Commercial			9,720				(357	)			1,247				(123	)
Obligations of U.S. government-sponsored agencies			—				—				4,270				(846	)
Obligations of states and political subdivisions			1,559				(41	)			512				(53	)
Corporate notes			6,845				(898	)			8,075				(1,000	)
U.S. Treasury securities			21,240				(698	)			31,642				(3,376	)
Total		$	59,240			$	(2,946	)		$	69,649			$	(8,150	)


		Held-to-Maturity
		December 31, 2022
		Less than 12 Months								12 Months or More
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
		(Dollars in Thousands)
Mortgage-backed securities:
Commercial		$	1,125			$	(41	)		$	—			$	—
Obligations of U.S. government-sponsored agencies			215				(7	)			356				(33	)
Obligations of states and political subdivisions			73				(12	)			—				—
Total		$	1,413			$	(60	)		$	356			$	(33	)