Investment Securities |
9 Months Ended |
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Sep. 30, 2022 | |
Investment Securities [Abstract] | |
Investment Securities | 2. The following value of investment securities at the dates indicated (in During the value, $ 63.8 68.7 The 10.6 1.1 accumulated securities. No Gains and losses on basis. The following table presents the proceeds, realized debt securities for the three and nine months ended September The amortized indicated (in thousands). call or prepay separately. At September 30, no 10% of total stockholders’ mortgage 2022 and December 31, 2021. Information pertaining length of dates (in thousands): As of 116.2 from impact associated with changes in the cost basis of the The Company performs a review any changes in the than-temporary of the impairment, more likely than defaults and (v) the underlying guarantor of the securities. The Company does not consider these in market recovery of required to sell the securities before maturity. Pledged Securities The Company 20.0 guaranteed with investment on prevailing rates no t have pledged under this agreement. The Company is a Qualified authority to maintain public deposits from cities, municipalities, and by securities 25 % of also maintain a minimum amount of pledged securities to be As of September 30, 141.7 pledged seventeen $ 39.1 As of 37.3 pledged eleven $ 20.4 September 30, 2022 Available-for-sale: Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government Agency $ 10,400 $ - $ (1,372) $ 9,028 Collateralized mortgage obligations 121,760 - (21,712) 100,048 Mortgage-backed securities - residential 92,649 - (15,942) 76,707 Mortgage-backed securities - commercial 30,818 - (3,883) 26,935 Municipal securities 25,104 - (6,475) 18,629 Bank subordinated debt securities 14,503 28 (969) 13,562 Corporate bonds 4,039 - (377) 3,662 $ 299,273 $ 28 $ (50,730) $ 248,571 Held-to-maturity: U.S. Government Agency $ 45,243 $ - $ (5,804) $ 39,439 Collateralized mortgage obligations 70,424 - (6,773) 63,651 Mortgage-backed securities - residential 40,574 - (4,844) 35,730 Mortgage-backed securities - commercial 11,483 - (516) 10,967 Corporate bonds 11,141 - (1,189) 9,952 $ 178,865 $ - $ (19,126) $ 159,739 December 31, 2021 Available-for-sale: Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government Agency $ 10,564 $ 6 $ (50) $ 10,520 Collateralized mortgage obligations 160,506 22 (3,699) 156,829 Mortgage-backed securities - residential 120,643 228 (2,029) 118,842 Mortgage-backed securities - commercial 49,905 820 (608) 50,117 Municipal securities 25,164 6 (894) 24,276 Bank subordinated debt securities 27,003 1,418 (13) 28,408 Corporate bonds 12,068 482 - 12,550 $ 405,853 $ 2,982 $ (7,293) $ 401,542 Held-to-maturity: U.S. Government Agency $ 34,505 $ 14 $ (615) $ 33,904 Collateralized mortgage obligations 44,820 - (1,021) 43,799 Mortgage-backed securities - residential 26,920 - (568) 26,352 Mortgage-backed securities - commercial 3,103 - (90) 3,013 Corporate bonds 13,310 - (221) 13,089 $ 122,658 $ 14 $ (2,515) $ 120,157 Three Months Ended September 30, Nine Months Ended September 30, Available-for-sale: 2022 2021 2022 2021 Proceeds from sale and call of securities $ 13,809 $ 5,674 $ 45,647 $ 48,939 Gross gains $ 2 $ 72 $ 218 $ 510 Gross losses (560) (142) (758) (331) Net realized gain (loss) $ (558) $ (70) $ (540) $ 179 Available-for-sale Held-to-maturity September 30, 2022: Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ - $ - $ 1,522 $ 1,472 Due after one year through five years 4,039 3,662 9,619 8,480 Due after five years through ten years 15,503 14,362 - - Due after ten years 24,104 17,829 - - U.S. Government Agency 10,400 9,028 45,243 39,439 Collateralized mortgage obligations 121,760 100,048 70,424 63,651 Mortgage-backed securities - residential 92,649 76,707 40,574 35,730 Mortgage-backed securities - commercial 30,818 26,935 11,483 10,967 $ 299,273 $ 248,571 $ 178,865 $ 159,739 September 30, 2022 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government Agency $ 27,684 $ (3,810) $ 20,784 $ (4,726) $ 48,468 $ (8,536) Collateralized mortgage obligations 58,660 (9,750) 105,038 (23,488) 163,698 (33,238) Mortgage-backed securities - residential 38,911 (6,510) 73,524 (17,019) 112,435 (23,529) Mortgage-backed securities - commercial 21,508 (2,715) 16,395 (3,194) 37,903 (5,909) Municipal securities 800 (200) 17,829 (6,275) 18,629 (6,475) Bank subordinated debt securities 12,533 (970) - - 12,533 (970) Corporate bonds 13,614 (1,045) - - 13,614 (1,045) $ 173,710 $ (25,000) $ 233,570 $ (54,702) $ 407,280 $ (79,702) December 31, 2021 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government Agency $ 25,951 $ (254) $ 15,477 $ (516) $ 41,428 $ (770) Collateralized mortgage obligations 155,668 (3,223) 38,459 (1,497) 194,127 (4,720) Mortgage-backed securities - residential 88,772 (1,178) 37,373 (1,274) 126,145 (2,452) Mortgage-backed securities - commercial 25,289 (318) 7,507 (309) 32,796 (627) Municipal securities 11,292 (395) 11,978 (499) 23,270 (894) Bank subordinated debt securities 4,487 (13) - - 4,487 (13) $ 311,459 $ (5,381) $ 110,794 $ (4,095) $ 422,253 $ (9,476) |