Investment Securities (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized costs and fair value of investment securities

	June 30, 2024
	Amortized		Gross Unrealized				Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available for sale
Corporate bonds	$	2,134		-		247		1,887
US treasuries		999		-		109		890
US government agencies		19,600		-		1,900		17,700
State and political subdivisions		22,514		-		3,191		19,323
Asset-backed securities		31,555		78		58		31,575
Mortgage-backed securities		59,571		-		9,593		49,978
Total investment securities available for sale	$	136,373		78		15,098		121,353
	December 31, 2023
	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value
Available for sale
Corporate bonds	$	2,147		-		237		1,910
US treasuries		9,495		1		102		9,394
US government agencies		20,594		-		1,938		18,656
State and political subdivisions		22,642		11		2,912		19,741
Asset-backed securities		33,450		2		216		33,236
Mortgage-backed securities		60,730		-		8,965		51,765
Total investment securities available for sale	$	149,058		14		14,370		134,702

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

																June 30, 2024
	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	$	-		-		$	-		-		$	1,887		2.02	%	$	-		-		$	1,887		2.02	%
US treasuries		-		-			890		1.27	%		-		-			-		-			890		1.27	%
US government agencies		992		0.45	%		2,389		1.00	%		14,319		4.29	%		-		-			17,700		3.63	%
State and political subdivisions		-		-			904		1.94	%		5,729		1.89	%		12,690		2.16	%		19,323		2.07	%
Asset-backed securities		-		-			132		3.88	%		-		-			31,443		6.68	%		31,575		6.67	%
Mortgage-backed securities		-		-			6,547		1.29	%		3,411		1.54	%		40,020		2.10	%		49,978		1.96	%
Total investment securities	$	992		0.45	%	$	10,862		1.31	%	$	25,346		3.21	%	$	84,153		3.82	%	$	121,353		3.44	%
																December 31, 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	$	-		-		$	-		-		$	1,910		2.01	%	$	-		-		$	1,910		2.01	%
US treasuries		8,497		5.42	%		897		1.27	%		-		-			-		-			9,394		5.02	%
US government agencies		970		0.45	%		2,385		1.00	%		15,301		4.41	%		-		-			18,656		3.77	%
State and political subdivisions		-		-			906		1.94	%		5,769		1.89	%		13,066		2.15	%		19,741		2.06	%
Asset-backed securities		-		-			296		(6.13	)%		-		-			32,940		6.63	%		33,236		6.57	%
Mortgage-backed securities		-		-			4,795		1.15	%		5,400		1.59	%		41,570		2.00	%		51,765		1.87	%
Total investment securities	$	9,467		4.91	%	$	9,279		0.98	%	$	28,380		3.20	%	$	87,576		3.76	%	$	134,702		3.55	%

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

													June 30, 2024
	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	$	1,887	$	247		1	$	1,887	$	247
US treasuries		-		-		-		1		890		109		1		890		109
US government agencies		-		-		-		12		17,700		1,900		12		17,700		1,900
State and political subdivisions		2		748		13		30		18,575		3,178		32		19,323		3,191
Asset-backed		3		11,479		42		7		3,708		16		10		15,187		58
Mortgage-backed securities		1		1,161		1		63		48,817		9,592		64		49,978		9,593
Total investment securities		6	$	13,388	$	56		114	$	91,577	$	15,042		120	$	104,965	$	15,098
															December 31, 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	$	1,910	$	237		1	$	1,910	$	237
US treasuries		-		-		-		1		897		102		1		897		102
US government agencies		2		7,533		50		10		11,123		1,888		12		18,656		1,938
State and political subdivisions		-		-		-		30		18,964		2,912		30		18,964		2,912
Asset-backed		8		26,746		145		7		4,866		71		15		31,612		216
Mortgage-backed securities		2		2,869		36		62		48,896		8,929		64		51,765		8,965
Total investment securities		12	$	37,148	$	231		111	$	86,656	$	14,139		123	$	123,804	$	14,370

Schedule of other investments

(dollars in thousands)	June 30, 2024		December 31, 2023
Federal Home Loan Bank stock	$	14,633		16,063
Other nonmarketable investments		3,617		3,473
Investment in Trust Preferred subsidiaries		403		403
Total other investments	$	18,653		19,939