Investment Securities (Tables)

9 Months Ended

Sep. 30, 2023

Investment Securities

Summary of amortized cost and fair value of securities available-for-sale

	September 30, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Available-for-sale
U.S. Treasuries	$	44,765	$	—	$	(2,571)	$	42,194
U.S. government and federal agencies		13,821		—		(940)		12,881
Corporate bonds		3,000		—		(594)		2,406
Collateralized mortgage obligations		41,486		—		(7,964)		33,522
Tax-exempt municipal		1,380		—		(224)		1,156
Taxable municipal		607		—		(27)		580
Mortgage-backed		85,726		—		(9,381)		76,345
Total Available-for-sale Securities	$	190,785	$	—	$	(21,701)	$	169,084

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Available-for-sale
U.S. Treasuries	$	63,480	$	—	$	(4,270)	$	59,210
U.S. government and federal agencies		38,748		—		(3,988)		34,760
Corporate bonds		3,000		—		(386)		2,614
Collateralized mortgage obligations		44,732		—		(6,258)		38,474
Tax-exempt municipal		4,993		—		(348)		4,645
Taxable municipal		608		—		(29)		579
Mortgage-backed		238,652		—		(21,358)		217,294
Total Available-for-sale Securities	$	394,213	$	—	$	(36,637)	$	357,576

Summary of amortized cost and fair value of securities held-to-maturity

	September 30, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Held-to-maturity
U.S. Treasuries	$	6,001	$	—	$	(873)	$	5,128
U.S. government and federal agencies		35,463		—		(6,743)		28,720
Collateralized mortgage obligations		19,773		—		(4,920)		14,853
Taxable municipal		6,061		—		(1,409)		4,652
Mortgage-backed		29,049		—		(6,669)		22,380
Total Held-to-maturity Securities	$	96,347	$	—	$	(20,614)	$	75,733

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Held-to-maturity
U.S. Treasuries	$	6,000	$	—	$	(840)	$	5,160
U.S. government and federal agencies		35,551		—		(6,135)		29,416
Collateralized mortgage obligations		21,275		—		(4,227)		17,048
Taxable municipal		6,073		—		(1,364)		4,709
Mortgage-backed		30,516		—		(5,688)		24,828
Total Held-to-maturity Securities	$	99,415	$	—	$	(18,254)	$	81,161

Schedule of gross unrealized loss position of investments

	September 30, 2023
	Less than 12 Months				12 Months or Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Available-for-sale
U.S. Treasuries	$	—	$	—	$	42,194	$	(2,571)	$	42,194	$	(2,571)
U.S. government and federal agencies		—		—		12,881		(940)		12,881		(940)
Corporate bonds		—		—		2,406		(594)		2,406		(594)
Collateralized mortgage obligations		—		—		33,522		(7,964)		33,522		(7,964)
Tax-exempt municipal		—		—		1,156		(224)		1,156		(224)
Taxable municipal		—		—		580		(27)		580		(27)
Mortgage-backed		—		—		76,345		(9,381)		76,345		(9,381)
Total Available-for-sale Securities	$	—	$	—	$	169,084	$	(21,701)	$	169,084	$	(21,701)

	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Available-for-sale
U.S. Treasuries	$	31,261	$	(1,194)	$	27,949	$	(3,076)	$	59,210	$	(4,270)
U.S. government and federal agencies		16,107		(1,078)		18,653		(2,910)		34,760		(3,988)
Corporate bonds		2,614		(386)		—		—		2,614		(386)
Collateralized mortgage obligations		16,746		(1,143)		21,728		(5,115)		38,474		(6,258)
Tax-exempt municipal		4,645		(348)		—		—		4,645		(348)
Taxable municipal		337		(2)		242		(27)		579		(29)
Mortgage-backed		145,795		(9,612)		71,499		(11,746)		217,294		(21,358)
Total Available-for-sale Securities	$	217,505	$	(13,763)	$	140,071	$	(22,874)	$	357,576	$	(36,637)

	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Held-to-maturity
U.S. Treasuries	$	—	$	—	$	5,160	$	(840)	$	5,160	$	(840)
U.S. government and federal agencies		—		—		29,416		(6,135)		29,416		(6,135)
Collateralized mortgage obligations		—		—		17,048		(4,227)		17,048		(4,227)
Taxable municipal		—		—		4,709		(1,364)		4,709		(1,364)
Mortgage-backed		825		(159)		24,003		(5,529)		24,828		(5,688)
Total Held-to-maturity Securities	$	825	$	(159)	$	80,336	$	(18,095)	$	81,161	$	(18,254)

Contractual maturities of investment securities

	September 30, 2023
	Amortized		Fair
(Dollars in thousands)	Cost		Value
Available-for-sale
Due in one year or less	$	14,322	$	14,055
Due after one year through five years		54,845		51,453
Due after five years through ten years		56,992		51,886
Due after ten years		64,626		51,690
Total Available-for-sale Securities	$	190,785	$	169,084

	September 30, 2023
	Amortized		Fair
(Dollars in thousands)	Cost		Value
Held-to-maturity
Due in one year or less	$	—	$	—
Due after one year through five years		20,163		17,117
Due after five years through ten years		24,465		19,496
Due after ten years		51,719		39,120
Total Held-to-maturity Securities	$	96,347	$	75,733

Summary of restricted securities

(Dollars in thousands)	September 30, 2023		December 31, 2022
Federal Reserve Bank Stock	$	3,306	$	3,292
Federal Home Loan Bank Stock		1,641		1,073
Community Bankers’ Bank Stock		60		60
Total Restricted Securities	$	5,007	$	4,425