Investment Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities Available-for-Sale and Held-to-Maturity

Details of investment securities available-for-sale and held-to-maturity as of March 31, 2023 and December 31, 2022 were as follows:

	Available-for-Sale
	March 31, 2023
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	45,498	$	2	$	(3,546	)	$	41,954
Commercial		11,476		5		(499	)		10,982
Obligations of U.S. government-sponsored agencies		5,114		—		(739	)		4,375
Obligations of states and political subdivisions		1,655		—		(81	)		1,574
Corporate notes		17,803		—		(3,149	)		14,654
U.S. Treasury securities		56,967		—		(3,499	)		53,468
Total	$	138,513	$	7	$	(11,513	)	$	127,007

	Held-to-Maturity
	March 31, 2023
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	1,003	$	—	$	(31	)	$	972
Obligations of U.S. government-sponsored agencies		601		—		(42	)		559
Obligations of states and political subdivisions		78		—		(10	)		68
Total	$	1,682	$	—	$	(83	)	$	1,599

	Available-for-Sale
	December 31, 2022
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	47,659	$	2	$	(3,704	)	$	43,957
Commercial		12,169		4		(480	)		11,693
Obligations of U.S. government-sponsored agencies		5,116		—		(846	)		4,270
Obligations of states and political subdivisions		2,166		—		(94	)		2,072
Corporate notes		17,817		2		(1,898	)		15,921
U.S. Treasury securities		56,956		—		(4,074	)		52,882
Total	$	141,883	$	8	$	(11,096	)	$	130,795

	Held-to-Maturity
	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	1,167	$	—	$	(41	)	$	1,126
Obligations of U.S. government-sponsored agencies		610		—		(40	)		570
Obligations of states and political subdivisions		85		—		(12	)		73
Total	$	1,862	$	—	$	(93	)	$	1,769

Maturities of Investment Securities Available-for-Sale and Held-to-Maturity

The scheduled maturities of investment securities available-for-sale and held-to-maturity as of March 31, 2023 are presented in the following table:

	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in Thousands)
Maturing within one year	$	12,979	$	12,696	$	—	$	—
Maturing after one to five years		49,855		46,675		—		—
Maturing after five to ten years		65,318		58,009		1,443		1,380
Maturing after ten years		10,361		9,627		239		219
Total	$	138,513	$	127,007	$	1,682	$	1,599

Schedule of Unrealized Loss on Investments and Fair Value for Securities for Which Allowance for Credit Losses has not been Recorded

The following tables reflect gross unrealized losses and fair value for securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of March 31, 2023 and December 31, 2022.

	Available-for-Sale
	March 31, 2023
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	9,554	$	(407	)	$	32,233	$	(3,139	)
Commercial		4,026		(135	)		6,257		(364	)
Obligations of U.S. government-sponsored agencies		—		—			4,375		(739	)
Obligations of states and political subdivisions		—		—			1,574		(81	)
Corporate notes		2,565		(435	)		12,089		(2,714	)
U.S. Treasury securities		—		—			53,468		(3,499	)
Total	$	16,145	$	(977	)	$	109,996	$	(10,536	)

	Held-to-Maturity
	March 31, 2023
	Less than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	—	$	—	$	972	$	(31	)
Obligations of U.S. government-sponsored agencies		—		—		559		(42	)
Obligations of states and political subdivisions		—		—		68		(10	)
Total	$	—	$	—	$	1,599	$	(83	)

	Available-for-Sale
	December 31, 2022
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	19,876	$	(952	)	$	23,903	$	(2,752	)
Commercial		9,720		(357	)		1,247		(123	)
Obligations of U.S. government-sponsored agencies		—		—			4,270		(846	)
Obligations of states and political subdivisions		1,559		(41	)		513		(53	)
Corporate notes		6,845		(898	)		8,075		(1,000	)
U.S. Treasury securities		21,240		(698	)		31,642		(3,376	)
Total	$	59,240	$	(2,946	)	$	69,650	$	(8,150	)

	Held-to-Maturity
	December 31, 2022
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	1,126	$	(41	)	$	—	$	—
Obligations of U.S. government-sponsored agencies	$	214	$	(7	)	$	356	$	(33	)
Obligations of states and political subdivisions	$	73	$	(12	)	$	—	$	—
Total	$	1,413	$	(60	)	$	356	$	(33	)