INVESTMENT SECURITIES (Tables)
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9 Months Ended |
Sep. 30, 2024 |
Investments, Debt and Equity Securities [Abstract] |
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Schedule of amortized cost and estimated fair values of securities available-for-sale |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | unrealized | | unrealized | | Estimated | | | cost | | gains | | losses | | fair value | September 30, 2024 | | | | | | | | | | | | | U.S. Government Agencies | | $ | 2,059 | | $ | — | | $ | (14) | | $ | 2,045 | Municipal securities | | | 23,671 | | | 188 | | | (996) | | | 22,863 | Mortgage-backed securities | | | 51,459 | | | 322 | | | (2,706) | | | 49,075 | Collateralized mortgage obligations | | | 46,803 | | | 439 | | | (1,726) | | | 45,516 | SBA securities | | | 4,210 | | | 37 | | | (52) | | | 4,195 | Corporate bonds | | | 81,228 | | | 4 | | | (11,164) | | | 70,068 | Total | | $ | 209,430 | | $ | 990 | | $ | (16,658) | | $ | 193,762 |
| | | | | | | | | | | | | | | | | | Gross | | Gross | | | | | | Amortized | | unrealized | | unrealized | | Estimated | | | cost | | gains | | losses | | fair value | December 31, 2023 | | | | | | | | | | | | | Municipal securities | | $ | 21,910 | | $ | 75 | | $ | (1,158) | | $ | 20,827 | Mortgage-backed securities | | | 41,048 | | | 194 | | | (3,641) | | | 37,601 | Collateralized mortgage obligations | | | 35,019 | | | 256 | | | (2,299) | | | 32,976 | SBA securities | | | 5,280 | | | 49 | | | (77) | | | 5,252 | Corporate bonds | | | 80,383 | | | 7 | | | (13,894) | | | 66,496 | Total | | $ | 183,640 | | $ | 581 | | $ | (21,069) | | $ | 163,152 |
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Schedule of investments classified by contractual maturity date |
| | | | | | | | | | | | | | | September 30, 2024 | | December 31, 2023 | | | Amortized | | Estimated | | Amortized | | Estimated | | | cost | | fair value | | cost | | fair value | | | | | | | | | | | | Securities AFS | | | | | | | | | | | | | Due in one year or less | | $ | 37,997 | | $ | 37,503 | | $ | 6,397 | | $ | 6,338 | Due after one through five years | | | 85,096 | | | 73,729 | | | 15,909 | | | 14,206 | Due after five years through ten years | | | 25,493 | | | 23,600 | | | 102,430 | | | 87,867 | Due after ten years | | | 60,844 | | | 58,930 | | | 58,904 | | | 54,741 | Total | | $ | 209,430 | | $ | 193,762 | | $ | 183,640 | | $ | 163,152 |
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Schedule of available-for-sale securities, continuous unrealized loss position, fair value |
| | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or more | | Total | | | Estimated | | Unrealized | | Estimated | | Unrealized | | Estimated | | Unrealized | | | fair value | | loss | | fair value | | loss | | fair value | | loss | September 30, 2024 | | | | | | | | | | | | | | | | | | | U.S. Government Agencies | | $ | 2,045 | | $ | (14) | | $ | — | | $ | — | | $ | 2,045 | | $ | (14) | Municipal securities | | | 1,555 | | | (2) | | | 13,458 | | | (994) | | | 15,013 | | | (996) | Mortgage-backed securities | | | 5,402 | | | (44) | | | 21,547 | | | (2,662) | | | 26,949 | | | (2,706) | Collateralized mortgage obligations | | | 11,955 | | | (97) | | | 13,228 | | | (1,629) | | | 25,183 | | | (1,726) | SBA securities | | | 829 | | | (5) | | | 621 | | | (47) | | | 1,450 | | | (52) | Corporate bonds | | | 7,996 | | | (404) | | | 60,568 | | | (10,760) | | | 68,564 | | | (11,164) | Total | | $ | 29,782 | | $ | (566) | | $ | 109,422 | | $ | (16,092) | | $ | 139,204 | | $ | (16,658) |
| | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or more | | Total | | | Estimated | | Unrealized | | Estimated | | Unrealized | | Estimated | | Unrealized | | | fair value | | loss | | fair value | | loss | | fair value | | loss | December 31, 2023 | | | | | | | | | | | | | | | | | | | Municipal securities | | $ | 2,483 | | $ | (28) | | $ | 13,975 | | $ | (1,130) | | $ | 16,458 | | $ | (1,158) | Mortgage-backed securities | | | 1,369 | | | (30) | | | 26,435 | | | (3,611) | | | 27,804 | | | (3,641) | Collateralized mortgage obligations | | | 1,496 | | | (8) | | | 20,713 | | | (2,291) | | | 22,209 | | | (2,299) | SBA securities | | | — | | | — | | | 1,610 | | | (77) | | | 1,610 | | | (77) | Corporate bonds | | | — | | | — | | | 65,505 | | | (13,894) | | | 65,505 | | | (13,894) | Total | | $ | 5,348 | | $ | (66) | | $ | 128,238 | | $ | (21,003) | | $ | 133,586 | | $ | (21,069) |
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