Debt Securities (Tables)

3 Months Ended

Mar. 31, 2023

Debt Securities

Schedule of amortized cost and fair value of securities

	March 31, 2023
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
Available for Sale	Cost		Gains		Losses		Value
Debt Securities:
Residential mortgage-backed	$	27,864	$	148	$	(1,292)	$	26,720
Collateralized mortgage obligations		55,694		60		(2,781)		52,973
State and municipal		16,362		1		(2,163)		14,200
Corporate bonds		5,750		—		(907)		4,843
Total securities available for sale	$	105,670	$	209	$	(7,143)	$	98,736
Held to Maturity
Debt Securities:
Residential mortgage-backed	$	24,948	$	—	$	(2,851)	$	22,097
State and municipal		2,002		—		(61)		1,941
U.S. Government and agency		2,046		—		(2)		2,044
Total securities held to maturity	$	28,996	$	—	$	(2,914)	$	26,082

	December 31, 2022
			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
Available for Sale	Cost		Gains		Losses		Value
Debt Securities:
Residential mortgage-backed	$	25,573	$	—	$	(1,815)	$	23,758
Collateralized mortgage obligations		52,134		584		(2,474)		50,244
State and municipal		16,387		—		(2,606)		13,781
Corporate bonds		5,750		—		(935)		4,815
U.S. Government and agency		16,169		—		(1,614)		14,555
Total securities available for sale	$	116,013	$	584	$	(9,444)	$	107,153
Held to Maturity
Debt Securities:
Residential mortgage-backed	$	25,817	$	—	$	(3,132)	$	22,685
State and municipal		2,010		—		(80)		1,930
Total securities held to maturity	$	27,827	$	—	$	(3,212)	$	24,615

Schedule of contractual maturities of debt securities

	Available for Sale				Held to Maturity
			Estimated				Estimated
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year	$	—	$	—	$	395	$	395
Due from one to five years		1,657		1,558		366		366
Due in five to ten years		13,909		12,048		2,180		2,168
After ten years		6,546		5,437		1,107		1,056
Residential mortgage-backed		27,864		26,720		24,948		22,097
Collateralized mortgage obligations		55,694		52,973		—		—
Total	$	105,670	$	98,736	$	28,996	$	26,082

Schedule of securities with unrealized and unrecognized losses

	March 31, 2023
	Less than 12 months				12 months or longer
			Gross				Gross
	Fair		Unrealized		Fair		Unrealized
Category (number of securities)	Value		Losses		Value		Losses
Residential mortgage-backed (15,70)	$	5,915	$	(40)	$	32,881	$	(4,103)
Collateralized mortgage obligations (20,5)		37,272		(1,108)		8,620		(1,673)
State and municipal (4,18)		1,842		(51)		13,245		(2,173)
Corporate bonds (2,10)		914		(86)		3,929		(821)
U.S. Government and agency (1,0)		2,044		(2)		—		—
Total	$	47,987	$	(1,287)	$	58,675	$	(8,770)

	December 31, 2022
	Less than 12 months				12 months or longer
			Gross				Gross
	Fair		Unrealized		Fair		Unrealized
Category (number of securities)	Value		Losses		Value		Losses
Residential mortgage-backed (66,21)	$	16,889	$	(1,253)	$	21,888	$	(3,694)
Collateralized mortgage obligations (11,5)		22,133		(797)		8,790		(1,677)
State and municipal (15,9)		8,638		(1,267)		7,073		(1,419)
Corporate bonds (10,2)		3,963		(787)		852		(148)
U.S. Government and agency (1,13)		2,809		(181)		11,746		(1,433)
Total	$	54,432	$	(4,285)	$	50,349	$	(8,371)

Summary of held to maturity bond ratings

	Residential mortgage-backed		State and municipal		U.S Government and agency
AAA	$	24,948	$	1,868	$	2,046
Baa2		—		134		—
	$	24,948		2,002	$	2,046