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Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2023
Investment Securities |
Summary of amortized cost and fair value of securities available-for-sale | Investment securities available for sale (AFS): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ALLOWANCE | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FOR CREDIT | ​ | FAIR
​ |  | COST BASIS |  | GAINS |  | LOSSES | ​ | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency | ​ | $ | 11,655 | ​ | $ | — | ​ | $ | (1,266) | ​ | $ | — | ​ | $ | 10,389
U.S. Agency mortgage-backed securities | ​ |  | 99,945 | ​ |  | 17 | ​ |  | (13,126) | ​ | ​ | — | ​ |  | 86,836
Municipal | ​ |  | 20,672 | ​ |  | — | ​ |  | (1,678) | ​ | ​ | — | ​ |  | 18,994
Corporate bonds | ​ |  | 60,663 | ​ |  | 4 | ​ |  | (5,533) | ​ | ​ | (926) | ​ |  | 54,208
Total | ​ | $ | 192,935 | ​ | $ | 21 | ​ | $ | (21,603) | ​ | $ | (926) | ​ | $ | 170,427
Investment securities available for sale (AFS): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR
​ |  | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency | ​ | $ | 11,797 | ​ | $ | 1 | ​ | $ | (1,265) | ​ | $ | 10,533
U.S. Agency mortgage-backed securities | ​ |  | 102,631 | ​ |  | 64 | ​ |  | (12,710) | ​ |  | 89,985
Municipal | ​ |  | 20,837 | ​ |  | — | ​ |  | (1,799) | ​ |  | 19,038
Corporate bonds | ​ |  | 63,152 | ​ |  | 30 | ​ |  | (3,230) | ​ |  | 59,952
Total | ​ | $ | 198,417 | ​ | $ | 95 | ​ | $ | (19,004) | ​ | $ | 179,508
Summary of amortized cost and fair value of securities held-to-maturity | Investment securities held to maturity (HTM): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​ | ​ | ALLOWANCE
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR | ​ | FOR CREDIT
​ |  | COST BASIS |  | GAINS |  | LOSSES | ​ | VALUE |  | LOSSES
​ | ​ | (IN THOUSANDS)
U.S. Agency | ​ | $ | 2,500 | ​ | $ | — | ​ | $ | (444) | ​ | $ | 2,056 | ​ | $ | —
U.S. Agency mortgage-backed securities | ​ | ​ | 19,957 | ​ | ​ | 3 | ​ | ​ | (2,317) | ​ | ​ | 17,643 | ​ | ​ | —
Municipal | ​ |  | 33,975 | ​ |  | — | ​ |  | (3,533) | ​ |  | 30,442 | ​ |  | (2)
Corporate bonds and other securities | ​ |  | 5,400 | ​ |  | — | ​ |  | (112) | ​ |  | 5,288 | ​ |  | (107)
Total | ​ | $ | 61,832 | ​ | $ | 3 | ​ | $ | (6,406) | ​ | $ | 55,429 | ​ | $ | (109)
Investment securities held to maturity (HTM): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | GROSS | ​ | GROSS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | UNREALIZED | ​ | UNREALIZED | ​ | FAIR
​ | ​ | COST BASIS |  | GAINS |  | LOSSES |  | VALUE
​ | ​ | (IN THOUSANDS)
U.S. Agency |  | $ | 2,500 | ​ | $ | — | ​ | $ | (432) | ​ | $ | 2,068
U.S. Agency mortgage-backed securities |  | ​ | 18,877 | ​ | ​ | 8 | ​ | ​ | (2,212) | ​ | ​ | 16,673
Municipal | ​ |  | 33,993 | ​ |  | 2 | ​ |  | (3,880) | ​ |  | 30,115
Corporate bonds and other securities | ​ |  | 6,508 | ​ |  | — | ​ |  | (172) | ​ |  | 6,336
Total | ​ | $ | 61,878 | ​ | $ | 10 | ​ | $ | (6,696) | ​ | $ | 55,192
Schedule of investment securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | Available for sale | ​ | Held to maturity
​ |  | Cost Basis |  | Fair Value |  | Cost Basis |  | Fair Value
Within 1 year | ​ | $ | 4,220 | ​ | $ | 4,174 | ​ | $ | 3,413 | ​ | $ | 3,376
After 1 year but within 5 years | ​ |  | 48,377 | ​ |  | 45,721 | ​ |  | 11,926 | ​ |  | 11,330
After 5 years but within 10 years | ​ |  | 46,387 | ​ |  | 39,518 | ​ |  | 25,497 | ​ |  | 22,364
Over 10 years | ​ |  | 93,951 | ​ |  | 81,014 | ​ |  | 20,996 | ​ |  | 18,359
Total | ​ | $ | 192,935 | ​ | $ | 170,427 | ​ | $ | 61,832 | ​ | $ | 55,429
Schedule of investments with unrealized losses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | LESS THAN 12 MONTHS | ​ | 12 MONTHS OR LONGER | ​ | TOTAL
​ | ​ | FAIR | ​ | UNREALIZED | ​ | FAIR | ​ | UNREALIZED | ​ | FAIR | ​ | UNREALIZED
​ |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES |  | VALUE |  | LOSSES
U.S. Agency | ​ | $ | 1,955 | ​ | $ | (42) | ​ | $ | 8,434 | ​ | $ | (1,224) | ​ | $ | 10,389 | ​ | $ | (1,266)
U.S. Agency mortgage-backed securities | ​ | ​ | 25,108 | ​ | ​ | (1,316) | ​ | ​ | 57,621 | ​ | ​ | (11,810) | ​ | ​ | 82,729 | ​ | ​ | (13,126)
Municipal | ​ |  | 3,766 | ​ | ​ | (132) | ​ | ​ | 14,728 | ​ | ​ | (1,546) | ​ | ​ | 18,494 | ​ | ​ | (1,678)
Corporate bonds | ​ |  | 24,229 | ​ | ​ | (1,723) | ​ | ​ | 26,477 | ​ | ​ | (3,810) | ​ | ​ | 50,706 | ​ | ​ | (5,533)
Total | ​ | $ | 55,058 | ​ | $ | (3,213) | ​ | $ | 107,260 | ​ | $ | (18,390) | ​ | $ | 162,318 | ​ | $ | (21,603)
Schedule of allowance for credit losses on held to maturity debt securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2023
​ | ​ | Balance at | ​ | Charge- | ​ | ​ | ​ | ​ | Provision | ​ | Balance at
​ | ​ | March 31, 2023 | ​ | Offs | ​ | Recoveries | ​ | (Credit) | ​ | June 30, 2023
U.S. Agency |  | $ | — | ​ | $ | — |  | $ | — |  | $ | — |  | $ | —
U.S. Agency mortgage-backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Municipal | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1) | ​ | ​ | 2
Corporate bonds and other securities | ​ | ​ | 80 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 27 | ​ | ​ | 107
Total | ​ | $ | 83 | ​ | $ | — | ​ | $ | — | ​ | $ | 26 | ​ | $ | 109
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2023
​ | ​ | Balance at | ​ | Impact of Adopting | ​ | Charge- | ​ | ​ | ​ | ​ | Provision | ​ | Balance at
​ | ​ | December 31, 2022 | ​ | ASU 2016-13 | ​ | Offs | ​ | Recoveries | ​ | (Credit) | ​ | June 30, 2023
U.S. Agency |  | $ | — | ​ | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
U.S. Agency mortgage-backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Municipal | ​ | ​ | — | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1) | ​ | ​ | 2
Corporate bonds and other securities | ​ | ​ | — | ​ | ​ | 111 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (4) | ​ | ​ | 107
Total | ​ | $ | — | ​ | $ | 114 | ​ | $ | — | ​ | $ | — | ​ | $ | (5) | ​ | $ | 109
Schedule of amortized cost of held to maturity debt securities aggregated by credit quality indicator | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023
​ | ​ | Credit Rating
​ | ​ | AAA/AA/A | ​ | BBB/BB/B | ​ | Unrated | ​ | Total
U.S. Agency |  | $ | 2,500 | ​ | $ | — |  | $ | — |  | $ | 2,500
U.S. Agency mortgage-backed securities | ​ | ​ | 19,957 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 19,957
Municipal | ​ | ​ | 33,975 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 33,975
Corporate bonds and other securities | ​ | ​ | 4,007 | ​ | ​ | — | ​ | ​ | 1,393 | ​ | ​ | 5,400
Total | ​ | $ | 60,439 | ​ | $ | — | ​ | $ | 1,393 | ​ | $ | 61,832

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