Investment Securities (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized costs and fair value of investment securities

	September 30, 2023
	Amortized		Gross Unrealized				Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available for sale
Corporate bonds	$	2,153		-		303		1,850
US treasuries		25,737		2		136		25,603
US government agencies		21,225		-		2,501		18,724
State and political subdivisions		22,708		-		4,398		18,310
Asset-backed securities		29,780		25		164		29,641
Mortgage-backed securities
FHLMC		23,379		-		4,639		18,740
FNMA		33,251		-		6,285		26,966
GNMA		5,111		-		910		4,201
Total mortgage-backed securities		61,741		-		11,834		49,907
Total investment securities available for sale	$	163,344		27		19,336		144,035

	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

																September 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	$	-		-		$	-		-		$	1,850		2.01	%	$	-		-		$	1,850		2.01	%
US treasuries		24,739		5.39	%		864		1.27	%		-		-			-		-			25,603		5.25	%
US government agencies		956		0.45	%		2,293		1.00	%		15,475		4.45	%		-		-			18,724		3.82	%
State and political subdivisions		-		-			872		1.94	%		4,919		1.80	%		12,519		2.17	%		18,310		2.06	%
Asset-backed securities		-		-			-		-			340		6.24	%		29,301		6.61	%		29,641		6.60	%
Mortgage-backed securities		-		-			4,680		1.16	%		5,140		1.59	%		40,087		1.94	%		49,907		1.83	%
Total investment securities	$	25,695		5.21	%	$	8,709		1.20	%	$	27,724		3.31	%	$	81,907		3.64	%	$	144,035		3.71	%

															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

													September 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	$	1,850	$	303		1	$	1,850	$	303
US treasuries		-		-		-		1		863		136		1		863		136
US government agencies		2		8,156		60		10		10,568		2,441		12		18,724		2,501
State and political subdivisions		2		734		33		30		17,576		4,365		32		18,310		4,398
Asset-backed		5		15,631		83		7		5,039		81		12		20,670		164
Mortgage-backed securities
FHLMC		2		2,726		189		19		16,014		4,450		21		18,740		4,639
FNMA		-		-		-		37		26,966		6,285		37		26,966		6,285
GNMA		-		-		-		6		4,201		910		6		4,201		910
Total investment securities		11	$	27,247	$	365		111	$	83,077	$	18,971		122	$	110,324	$	19,336

															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)	September 30, 2023		December 31, 2022
Federal Home Loan Bank stock	$	16,046		9,250
Other nonmarketable investments		3,151		1,180
Investment in Trust Preferred subsidiaries		403		403
Total other investments	$	19,600		10,833