Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost, Fair Value, and Corresponding Amounts of Gross Unrealized Gains and Losses for Available for Sale Securities

The following table summarizes the amortized cost, the corresponding amounts of gross unrealized gains and losses, and estimated fair value of available-for-sale ("AFS") debt securities as of March 31, 2023 and December 31, 2022:

	March 31, 2023
($ in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	53,503	$	—	$	(4,788)	$	48,715
Residential collateralized mortgage obligations	175,840		229		(17,880)		158,189
Municipal securities-tax exempt	5,653		210		—		5,863
Total AFS debt securities	$	234,996	$	439	$	(22,668)	$	212,767

	December 31, 2022
($ in thousands)	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	55,189	$	—	$	(5,425)	$	49,764
Residential collateralized mortgage obligations	179,953		1		(19,909)		160,045
Total AFS debt securities	$	235,142	$	1	$	(25,334)	$	209,809

Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale by Contractual Maturity

The amortized cost and estimated fair value of AFS debt securities as of March 31, 2023, by contractual maturity, are shown below:

($ in thousands)	Amortized Cost		Fair Value
After one year through five years	$	1,467	$	1,411
After five years through ten years	4,503		4,120
After ten years	229,026		207,236
Total AFS debt securities	$	234,996	$	212,767

Schedule of Unrealized Losses on AFS Debt Securities

The following table presents the fair value and the associated gross unrealized losses on AFS debt securities by length of time those individual securities in each category have been in a continuous loss as of March 31, 2023 and December 31, 2022:

	March 31, 2023
	Less Than 12 Months				12 Months or Longer				Total
($ in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	15,913	$	(493)	$	32,802	$	(4,295)	$	48,715	$	(4,788)
Residential collateralized mortgage obligations	37,944		(722)		92,180		(17,158)		130,124		(17,880)
Total AFS debt securities	$	53,857	$	(1,215)	$	124,982	$	(21,453)	$	178,839	$	(22,668)

	December 31, 2022
	Less Than 12 Months				12 Months or Longer				Total
($ in thousands)	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities	$	26,347	$	(1,485)	$	23,417	$	(3,940)	$	49,764	$	(5,425)
Residential collateralized mortgage obligations	81,320		(3,888)		71,604		(16,021)		152,924		(19,909)
Total AFS debt securities	$	107,667	$	(5,373)	$	95,021	$	(19,961)	$	202,688	$	(25,334)

Schedule of Other Investments

The following table presents the other investment securities, which are included in Other investments on the Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022:

($ in thousands)	March 31, 2023		December 31, 2022
FHLB stock	$	8,483	$	8,483
Pacific Coast Bankers Bank ("PCBB") stock	190		190
Mutual fund - Community Reinvestment Act ("CRA") qualified	3,404		3,330
Time deposits placed in other banks	95		95
Total other investments	$	12,172	$	12,098