Investment Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized costs and fair value of investment securities

	June 30, 2023
	Amortized		Gross Unrealized				Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available for sale
Corporate bonds	$	2,160		-		286		1,874
US treasuries		999		-		124		875
US government agencies		13,009		-		2,199		10,810
State and political subdivisions		22,774		-		3,435		19,339
Asset-backed securities		5,697		-		129		5,568
Mortgage-backed securities
FHLMC		23,628		-		3,730		19,898
FNMA		34,028		-		5,417		28,611
GNMA		5,341		-		768		4,573
Total mortgage-backed securities		62,997		-		9,915		53,082
Total investment securities available for sale	$	107,636		-		16,088		91,548

	December 31, 2022
	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value
Available for sale
Corporate bonds	$	2,172		-		289		1,883
US treasuries		999		-		128		871
US government agencies		13,007		-		2,390		10,617
State and political subdivisions		22,910		-		4,004		18,906
Asset-backed securities		6,435		-		206		6,229
Mortgage-backed securities
FHLMC		24,086		-		3,745		20,341
FNMA		35,141		-		5,520		29,621
GNMA		5,573		-		694		4,879
Total mortgage-backed securities		64,800		-		9,959		54,841
Total investment securities available for sale	$	110,323		-		16,976		93,347

Schedule of maturities and yields on the Company’s investment securities

															June 30, 2023
	Less than one year				One to five years					Five to ten years					Over ten years					Total
(dollars in thousands)	Amount		Yield		Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield
Available for sale
Corporate bonds	$	-		-	$	-		-		$	1,874		2.00	%	$	-		-		$	1,874		2.00	%
US treasuries		-		-		875		1.27	%		-		-			-		-			875		1.27	%
US government agencies		-		-		3,253		0.85	%		7,557		1.55	%		-		-			10,810		1.34	%
State and political subdivisions		-		-		885		1.95	%		5,079		1.81	%		13,375		2.17	%		19,339		2.06	%
Asset-backed securities		-		-		-		-			392		5.74	%		5,176		6.23	%		5,568		6.20	%
Mortgage-backed securities		-		-		4,780		1.17	%		5,320		1.59	%		42,982		1.97	%		53,082		1.86	%
Total investment securities	$	-		-	$	9,793		1.14	%	$	20,222		1.75	%	$	61,533		2.37	%	$	91,548		2.10	%

															December 31, 2022
	Less than one year				One to five years					Five to ten years					Over ten years					Total
(dollars in thousands)	Amount		Yield		Amount		Yield			Amount		Yield			Amount		Yield			Amount		Yield
Available for sale
Corporate bonds	$	-		-	$	-		-		$	1,883		2.00	%	$	-		-		$	1,883		2.00	%
US treasuries		-		-		-		-			871		1.27	%		-		-			871		1.27	%
US government agencies		-		-		3,223		0.85	%		7,394		1.55	%		-		-			10,617		1.34	%
State and political subdivisions		-		-		460		2.13	%		5,382		1.80	%		13,064		2.16	%		18,906		2.05	%
Asset-backed securities		-		-		-		-			554		4.77	%		5,675		5.14	%		6,229		5.10	%
Mortgage-backed securities		-		-		4,594		1.13	%		3,959		1.60	%		46,288		1.90	%		54,841		1.82	%
Total investment securities	$	-		-	$	8,277		1.08	%	$	20,043		1.75	%	$	65,027		2.24	%	$	93,347		2.03	%

Schedule of gross unrealized losses on investment securities and fair market value of related securities

													June 30, 2023
	Less than 12 months						12 months or longer						Total
(dollars in thousands)	#		Fair value		Unrealized losses		#		Fair value		Unrealized losses		#		Fair value		Unrealized losses
Available for sale
Corporate bonds		-	$	-	$	-		1	$	1,874	$	286		1	$	1,874	$	286
US treasuries		-		-		-		1		875		124		1		875		124
US government agencies		-		-		-		10		10,810		2,199		10		10,810		2,199
State and political subdivisions		3		1,216		24		29		18,123		3,411		32		19,339		3,435
Asset-backed		1		393		1		7		5,175		128		8		5,568		129
Mortgage-backed securities
FHLMC		2		2,863		62		26		17,035		3,668		28		19,898		3,730
FNMA		1		5		1		29		28,606		5,416		30		28,611		5,417
GNMA		-		-		-		7		4,573		768		7		4,573		768
Total investment securities		7	$	4,477	$	88		110	$	87,071	$	16,000		117	$	91,548	$	16,088

													December 31, 2022
	Less than 12 months						12 months or longer									Total
(dollars in thousands)	#		Fair value		Unrealized losses		#		Fair value		Unrealized losses			#		Fair value		Unrealized losses
Available for sale
Corporate bonds		-	$	-	$	-		1	$	1,883	$	289			1	$	1,883	$	289
US treasuries		-		-		-		1		871		128			1		871		128
US government agencies		-		-		-		10		10,617		2,390			10		10,617		2,390
State and political subdivisions		10		5,101		763		22		13,805		3,241			32		18,906		4,004
Asset-backed		5		4,291		135		3		1,938		71			8		6,229		206
Mortgage-backed securities
FHLMC		4		3,712		155		17		16,629		3,590			21		20,341		3,745
FNMA		9		2,208		201		28		27,413		5,319			37		29,621		5,520
GNMA		1		103		7		6		4,776		687			7		4,879		694
Total investment securities		29	$	15,415	$	1,261		88	$	77,932	$	15,715			117	$	93,347	$	16,976

Schedule of other investments

(dollars in thousands)	June 30, 2023		December 31, 2022
Federal Home Loan Bank stock	$	9,890		9,250
Other nonmarketable investments		2,257		1,180
Investment in Trust Preferred subsidiaries		403		403
Total other investments	$	12,550		10,833