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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investment Securities

Schedule of summary of investment securities


		At December 31, 2022
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(dollars in thousands)		Cost			Gains			Losses			Value

Collateralized mortgage obligations		$	17,596		$	7		$	(2,348)		$	15,255
Agency mortgage-backed securities			58,801			—			(6,908)			51,893
Municipal securities			43,092			1			(10,796)			32,297
U.S. Government agency securities			45,471			—			(8,891)			36,580
Corporate securities			1,500			—			(175)			1,325
U.S. Treasury securities			6,993			—			(210)			6,783

Total securities available for sale		$	173,453		$	8		$	(29,328)		$	144,133


		At December 31, 2021
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(dollars in thousands)		Cost			Gains			Losses			Value

Collateralized mortgage obligations		$	21,730		$	169		$	(211)		$	21,688
Agency mortgage-backed securities			56,252			356			(419)			56,189
Municipal securities			44,594			811			(180)			45,225
U.S. Government agency securities			32,616			4			(1,269)			31,351
Corporate securities			1,500			—			(26)			1,474

Total securities available for sale		$	156,692		$	1,340		$	(2,105)		$	155,927

Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time in continuous unrealized loss position


		At December 31, 2022
		Less than 12 months						12 months or more						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
(dollars in thousands)		Value			Loss			Value			Loss			Value			Loss

Collateralized mortgage obligations		$	8,315		$	(364)		$	6,127		$	(1,984)		$	14,442		$	(2,348)
Agency mortgage-backed securities			20,029			(1,308)			31,865			(5,600)			51,894			(6,908)
Municipal securities			18,456			(5,438)			13,340			(5,358)			31,796			(10,796)
U.S. Government agency securities			13,526			(474)			22,767			(8,417)			36,293			(8,891)
Corporate securities			—			—			1,325			(175)			1,325			(175)
U.S. Treasury securities			6,783			(210)			—			—			6,783			(210)

		$	67,109		$	(7,794)		$	75,424		$	(21,534)		$	142,533		$	(29,328)


		At December 31, 2021
		Less than 12 months						12 months or more						Total
		Fair			Unrealized			Fair			Unrealized			Fair			Unrealized
(dollars in thousands)		Value			Loss			Value			Loss			Value			Loss

Collateralized mortgage obligations		$	7,917		$	(194)		$	876		$	(17)		$	8,793		$	(211)
Agency mortgage-backed securities			42,109			(414)			197			(5)			42,306			(419)
Municipal securities			18,603			(180)			—			—			18,603			(180)
U.S. Government agency securities			13,976			(420)			15,942			(849)			29,918			(1,269)
Corporate securities			1,474			(26)			—			—			1,474			(26)

		$	84,079		$	(1,234)		$	17,015		$	(871)		$	101,094		$	(2,105)

Schedule of contractual maturities of investment securities


		At December 31, 2022
		Amortized			Fair
(dollars in thousands)		Cost			Value



Due within one year		$	—		$	—
Due over one to five years			22,235			21,505
Due over five to ten years			15,891			13,348
Due over ten years			58,930			42,132
Collateralized mortgage obligations			17,596			15,255
Agency mortgage-backed securities			58,801			51,893

Total securities available for sale		$	173,453		$	144,133