Investment Securities (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023 were as follows:

	Available-for-Sale
	June 30, 2024
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	64,172	$	441	$	(3,036	)	$	61,577
Commercial		13,758		3		(301	)		13,460
Obligations of U.S. government-sponsored agencies		11,644		88		(675	)		11,057
Obligations of states and political subdivisions		1,599		—		(55	)		1,544
Corporate notes		17,753		—		(2,779	)		14,974
U.S. Treasury securities		44,012		—		(2,616	)		41,396
Total	$	152,938	$	532	$	(9,462	)	$	144,008

	Held-to-Maturity
	June 30, 2024
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	400	$	—	$	(17	)	$	383
Obligations of U.S. government-sponsored agencies		422		—		(34	)		388
Obligations of states and political subdivisions		46		—		(5	)		41
Total	$	868	$	—	$	(56	)	$	812

	Available-for-Sale
	December 31, 2023
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	47,221	$	580	$	(3,073	)	$	44,728
Commercial		9,446		—		(406	)		9,040
Obligations of U.S. government-sponsored agencies		11,849		158		(727	)		11,280
Obligations of states and political subdivisions		1,621		—		(63	)		1,558
Corporate notes		17,757		—		(2,800	)		14,957
U.S. Treasury securities		56,999		—		(2,997	)		54,002
Total	$	144,893	$	738	$	(10,066	)	$	135,565

	Held-to-Maturity
	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	575	$	—	$	(22	)	$	553
Obligations of U.S. government-sponsored agencies		471		—		(34	)		437
Obligations of states and political subdivisions		58		—		(7	)		51
Total	$	1,104	$	—	$	(63	)	$	1,041

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 June 30, 2024 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	$	14,219	$	13,828	$	—	$	—
Maturing after one to five years		39,035		36,357		164		157
Maturing after five to ten years		53,259		47,617		538		503
Maturing after ten years		46,425		46,206		166		152
Total	$	152,938	$	144,008	$	868	$	812

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, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of June 30, 2024 and December 31, 2023.

	Available-for-Sale
	June 30, 2024
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	14,061	$	(66	)	$	31,727	$	(2,970	)
Commercial		5,623		(17	)		7,241		(284	)
Obligations of U.S. government-sponsored agencies		—		—			4,415		(675	)
Obligations of states and political subdivisions		—		—			1,544		(55	)
Corporate notes		—		—			14,974		(2,779	)
U.S. Treasury securities		—		—			41,396		(2,616	)
Total	$	19,684	$	(83	)	$	101,297	$	(9,379	)

	Held-to-Maturity
	June 30, 2024
	Less than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	—	$	—	$	383	$	(17	)
Obligations of U.S. government-sponsored agencies		—		—		388		(34	)
Obligations of states and political subdivisions		—		—		41		(5	)
Total	$	—	$	—	$	812	$	(56	)

	Available-for-Sale
	December 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	$	94	$	(1	)	$	35,584	$	(3,072	)
Commercial		600		(5	)		8,408		(401	)
Obligations of U.S. government-sponsored agencies		—		—			4,367		(727	)
Obligations of states and political subdivisions		—		—			1,558		(63	)
Corporate notes		771		(229	)		14,186		(2,571	)
U.S. Treasury securities		—		—			54,002		(2,997	)
Total	$	1,465	$	(235	)	$	118,105	$	(9,831	)

	Held-to-Maturity
	December 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	$	—	$	—	$	553	$	(22	)
Obligations of U.S. government-sponsored agencies		—		—		436		(34	)
Obligations of states and political subdivisions		—		—		52		(7	)
Total	$	—	$	—	$	1,041	$	(63	)