Investment Securities (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Investments [Abstract]

Summary of Fixed Maturity Securities Available for Sale

maturity securities available for sale as of June 30, 2023 and December 31, 2022:

June 30, 2023 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	46,195	$	—	$	(5,187	)	$	41,008
State and municipalities		13,862		—		(1,178	)		12,684
Total	$	60,057	$	—	$	(6,365	)	$	53,692
December 31, 2022 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	43,286	$	—	$	(4,933	)	$	38,353
State and municipalities		11,015		13		(889	)		10,139
Total	$	54,301	$	13	$	(5,822	)	$	48,492

Summary of Amortized Cost and Estimated Market Value of Investment Securities by Contractual Maturity

The amortized cost and estimated market value of investment securities at June 30, 2023 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

June 30, 2023 (Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	—	$	—
Due after one year through five years		9,478		9,035
Due after five years through ten years		9,417		8,240
Due after ten years		41,162		36,417
Total	$	60,057	$	53,692

Summary of Securities with Gross Unrealized Losses

The following tables show information pertaining to securities with gross unrealized losses at June 30, 2023 and December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position.

	Less than Twelve Months					Twelve Months and Over
June 30, 2023 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	(90	)	$	6,057	$	(5,097	)	$	34,951
State and municipalities		(87	)		4,957		(1,091	)		7,723
Total	$	(177	)	$	11,014	$	(6,188	)	$	42,674
	Less than Twelve Months					Twelve Months and Over
December 31, 2022 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	(731	)	$	12,321	$	(4,202	)	$	26,023
State and municipalities		(286	)		4,628		(603	)		3,502
Total	$	(1,017	)	$	16,949	$	(4,805	)	$	29,525

As of