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Debt Securities (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Securities  
Schedule of Amortized Cost and Approximate Fair Values of Debt Securities

 

    Amortized Cost     Gross Unrealized Gains     Gross Unrealized Losses     Fair Value  
                         
At December 31, 2023:                                
Available for sale:                                
SBA Pool Securities   $ 706     $ —     $ (16 )   $ 690  
Collateralized mortgage obligations     138       —       (15 )     123  
Taxable municipal securities     16,690       —       (4,480 )     12,210  
Mortgage-backed securities     13,927       —       (2,595 )     11,332  
Total   $ 31,461     $ —     $ (7,106 )   $ 24,355  
                                 
Held-to-maturity:                                
Collateralized mortgage obligations   $ 353     $ —     $ (35 )   $ 318  
Mortgage-backed securities     7       1       —       8  
Total   $ 360     $ 1       (35 )   $ 326  

 

(continued)

 

 

OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY

 

Notes to Consolidated Financial Statements

 

(2) Debt Securities, Continued.

 

    Amortized Cost     Gross Unrealized Gains     Gross Unrealized Losses     Fair Value  
                         
At December 31, 2022:                                
Available for sale:                                
SBA Pool Securities   $ 834     $ 1     $ (18 )   $ 817  
Collateralized mortgage obligations     145       —       (15 )     130  
Taxable municipal securities     16,729       —       (5,109 )     11,620  
Mortgage-backed securities     15,180       —       (2,645 )     12,535  
Total   $ 32,888     $ 1     $ (7,787 )   $ 25,102  
                                 
Held-to-maturity:                                
Collateralized mortgage obligations   $ 475     $ —     $ (35 )   $ 440  
Mortgage-backed securities     65       —       (1 )     64  
Total   $ 540     $ —     $ (36 )   $ 504  
Schedule of Debt Securities Available for Sale with Gross Unrealized Losses, by Investment Category

Debt securities with gross unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position, is as follows (in thousands):

 

    Over Twelve Months     Less Than Twelve Months  
    Gross Unrealized Losses     Fair Value     Gross Unrealized Losses     Fair Value  
At December 31, 2023:                        
Available for Sale:                                
SBA Pool Securities   $ (16 )     690       —       —  
Collateralized mortgage obligations   $ —       —       (15 )     123  
Taxable municipal securities   $ (4,480 )     12,210       —       —  
Mortgage-backed securities   $ (2,595 )     11,332       —       —  
Total     (7,091 )     24,232       (15 )     123  
At December 31, 2022:                                
Available for Sale:                                
SBA Pool Securities   $ 18     $ 657     $ —     $ —  
Collateralized mortgage obligations     —       —       15       130  
Taxable municipal securities   $ 5,109     $ 11,620     $ —     $ —  
Mortgage-backed securities   $ 2,621     $ 12,292     $ 24     $ 243  
Total     7,748       24,569       39       373