Investments (Tables)

6 Months Ended

Jun. 30, 2023

Investments

Schedule of gain and losses on investments

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Investment income, net of investment expenses	$	1,278	$	313	$	2,103	$	578
Realized gains on investments		7		4		11		6
Realized losses on investments		(36)		(74)		(107)		(144)
Investment income and realized gains (losses), net of investment expenses	$	1,249	$	243	$	2,007	$	440

Summary of amortized cost, market value and unrealized gains (losses) of debt securities

	As of June 30, 2023
			Gross Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. Treasuries	$	28,407	$	1	$	(361)	$	28,047
Obligations of states, municipalities and political subdivisions		11,846		4		(1,178)		10,672
Corporate bonds		35,236		38		(2,879)		32,395
Residential and commercial mortgage-backed securities		17,607		16		(1,328)		16,295
Other loan-backed and structured securities		5,710		4		(393)		5,321
Total investment securities	$	98,806	$	63	$	(6,139)	$	92,730

	As of December 31, 2022
			Gross Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. Treasuries	$	35,637	$	5	$	(320)	$	35,322
Obligations of states, municipalities and political subdivisions		11,549		2		(1,326)		10,225
Corporate bonds		31,032		32		(2,837)		28,227
Residential and commercial mortgage-backed securities		12,790		11		(1,268)		11,533
Other loan-backed and structured securities		6,804		6		(476)		6,334
Total investment securities	$	97,812	$	56	$	(6,227)	$	91,641

Summary of remaining time to maturity

	As of June 30, 2023
Remaining Time to Maturity	Amortized Cost		Fair Value
Due in one year or less	$	25,920	$	25,802
Due after one year through five years		19,481		17,895
Due after five years through ten years		25,245		23,099
Due after ten years		4,843		4,318
Residential and commercial mortgage-backed securities		17,607		16,295
Other loan-backed and structured securities		5,710		5,321
Total	$	98,806	$	92,730

Summary of securities with gross unrealized loss position

	Less Than Twelve Months				Twelve Months or Greater				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
As of June 30, 2023	Loss		Value		Loss		Value		Loss		Value
U.S. Treasuries	$	(182)	$	25,500	$	(179)	$	2,232	$	(361)	$	27,732
Obligations of states, municipalities and political subdivisions		(79)		2,060		(1,099)		8,145		(1,178)		10,205
Corporate bonds		(530)		12,546		(2,349)		18,045		(2,879)		30,591
Residential and commercial mortgage-backed securities		(292)		8,365		(1,036)		7,319		(1,328)		15,684
Other loan-backed and structured securities		(109)		1,039		(284)		3,677		(393)		4,716
Total securities	$	(1,192)	$	49,510	$	(4,947)	$	39,418	$	(6,139)	$	88,928

	Less Than Twelve Months				Twelve Months or Greater				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
As of December 31, 2022	Loss		Value		Loss		Value		Loss		Value
U.S. Treasuries	$	(127)	$	10,748	$	(193)	$	9,824	$	(320)	$	20,572
Obligations of states, municipalities and political subdivisions		(929)		6,258		(397)		3,504		(1,326)		9,762
Corporate bonds		(1,623)		16,531		(1,214)		10,328		(2,837)		26,859
Residential and commercial mortgage-backed securities		(687)		6,565		(581)		4,952		(1,268)		11,517
Other loan-backed and structured securities		(359)		4,633		(117)		1,094		(476)		5,727
Total securities	$	(3,725)	$	44,735	$	(2,502)	$	29,702	$	(6,227)	$	74,437