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v3.22.2

Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2022
Investment Securities |
Schedule of cost basis and fair values of investment securities | The cost basis and fair values of investment securities are summarized as follows: Investment securities available for sale (AFS): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR
​ |  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency | ​ | $ | 10,009 | ​ | $ | — | ​ | $ | (723) | ​ | $ | 9,286
U.S. Agency mortgage-backed securities | ​ |  | 97,467 | ​ |  | 58 | ​ |  | (8,144) | ​ |  | 89,381
Municipal | ​ |  | 21,543 | ​ |  | 36 | ​ |  | (1,046) | ​ |  | 20,533
Corporate bonds | ​ |  | 54,329 | ​ |  | 136 | ​ |  | (1,413) | ​ |  | 53,052
Total | ​ | $ | 183,348 | ​ | $ | 230 | ​ | $ | (11,326) | ​ | $ | 172,252
​ Investment securities held to maturity (HTM): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR
​ |  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency | ​ | $ | 2,500 | ​ | $ | — | ​ | $ | (313) | ​ | $ | 2,187
U.S. Agency mortgage-backed securities | ​ | ​ | 15,709 | ​ | ​ | 27 | ​ | ​ | (1,383) | ​ | ​ | 14,353
Municipal | ​ |  | 34,287 | ​ |  | 64 | ​ |  | (2,185) | ​ |  | 32,166
Corporate bonds and other securities | ​ |  | 6,507 | ​ |  | — | ​ |  | (98) | ​ |  | 6,409
Total | ​ | $ | 59,003 | ​ | $ | 91 | ​ | $ | (3,979) | ​ | $ | 55,115
​ Investment securities available for sale (AFS): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR
​ |  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency | ​ | $ | 7,371 | ​ | $ | 86 | ​ | $ | (70) | ​ | $ | 7,387
U.S. Agency mortgage-backed securities | ​ |  | 80,136 | ​ |  | 1,202 | ​ |  | (1,171) | ​ |  | 80,167
Municipal | ​ |  | 20,066 | ​ |  | 851 | ​ |  | (25) | ​ |  | 20,892
Corporate bonds | ​ |  | 53,843 | ​ |  | 1,028 | ​ |  | (146) | ​ |  | 54,725
Total | ​ | $ | 161,416 | ​ | $ | 3,167 | ​ | $ | (1,412) | ​ | $ | 163,171
​ Investment securities held to maturity (HTM): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR
​ | ​ | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency |  | $ | 2,500 | ​ | $ | — | ​ | $ | (11) | ​ | $ | 2,489
U.S. Agency mortgage-backed securities |  | ​ | 10,556 | ​ | ​ | 203 | ​ | ​ | (115) | ​ | ​ | 10,644
Municipal | ​ |  | 33,188 | ​ |  | 1,734 | ​ |  | (103) | ​ |  | 34,819
Corporate bonds and other securities | ​ |  | 7,507 | ​ |  | 64 | ​ |  | (7) | ​ |  | 7,564
Total | ​ | $ | 53,751 | ​ | $ | 2,001 | ​ | $ | (236) | ​ | $ | 55,516
Schedule of investments with unrealized losses | The following tables present information concerning investments with unrealized losses as of June 30, 2022 and December 31, 2021 (in thousands): Total investment securities:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022
​ | ​ | LESS THAN 12 MONTHS | ​ | 12 MONTHS OR LONGER | ​ | TOTAL
​ | ​ | FAIR | ​ | UNREALIZED | ​ | FAIR | ​ | UNREALIZED | ​ | FAIR | ​ | UNREALIZED
​ |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES
U.S. Agency | ​ | $ | 10,599 | ​ | $ | (911) | ​ | $ | 874 | ​ | $ | (125) | ​ | $ | 11,473 | ​ | $ | (1,036)
U.S. Agency mortgage-backed securities | ​ | ​ | 78,840 | ​ | ​ | (6,307) | ​ | ​ | 15,874 | ​ | ​ | (3,220) | ​ | ​ | 94,714 | ​ | ​ | (9,527)
Municipal | ​ |  | 42,300 | ​ | ​ | (3,052) | ​ | ​ | 1,591 | ​ | ​ | (179) | ​ | ​ | 43,891 | ​ | ​ | (3,231)
Corporate bonds and other securities | ​ |  | 41,606 | ​ | ​ | (1,446) | ​ | ​ | 1,436 | ​ | ​ | (65) | ​ | ​ | 43,042 | ​ | ​ | (1,511)
Total | ​ | $ | 173,345 | ​ | $ | (11,716) | ​ | $ | 19,775 | ​ | $ | (3,589) | ​ | $ | 193,120 | ​ | $ | (15,305)
​ ​ Total investment securities:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | LESS THAN 12 MONTHS | ​ | 12 MONTHS OR LONGER | ​ | TOTAL
​ | ​ | FAIR | ​ | UNREALIZED | ​ | FAIR | ​ | UNREALIZED | ​ | FAIR | ​ | UNREALIZED
​ |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES
U.S. Agency | ​ | $ | 7,419 | ​ | $ | (81) | ​ | $ | — | ​ | $ | — | ​ | $ | 7,419 | ​ | $ | (81)
U.S. Agency mortgage-backed securities | ​ | ​ | 45,422 | ​ | ​ | (972) | ​ | ​ | 6,691 | ​ | ​ | (314) | ​ | ​ | 52,113 | ​ | ​ | (1,286)
Municipal | ​ |  | 7,832 | ​ | ​ | (128) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,832 | ​ | ​ | (128)
Corporate bonds and other securities | ​ |  | 14,558 | ​ | ​ | (92) | ​ | ​ | 2,439 | ​ | ​ | (61) | ​ | ​ | 16,997 | ​ | ​ | (153)
Total | ​ | $ | 75,231 | ​ | $ | (1,273) | ​ | $ | 9,130 | ​ | $ | (375) | ​ | $ | 84,361 | ​ | $ | (1,648)
Schedule of investment securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022
​ | ​ | Available for sale | ​ | Held to maturity
​ |  | Cost Basis |  | Fair Value |  | Cost Basis |  | Fair Value
Within 1 year | ​ | $ | 5,427 | ​ | $ | 5,426 | ​ | $ | 200 | ​ | $ | 201
After 1 year but within 5 years | ​ |  | 36,336 | ​ |  | 35,632 | ​ |  | 12,555 | ​ |  | 12,372
After 5 years but within 10 years | ​ |  | 51,117 | ​ |  | 48,844 | ​ |  | 24,299 | ​ |  | 22,908
Over 10 years | ​ |  | 90,468 | ​ |  | 82,350 | ​ |  | 21,949 | ​ |  | 19,634
Total | ​ | $ | 183,348 | ​ | $ | 172,252 | ​ | $ | 59,003 | ​ | $ | 55,115
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 + Details
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