Investment Securities (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Investments [Abstract]

Summary of Fixed Maturity Securities Available for Sale

Fixed maturity securities available for sale at March 31, 2022 and December 31, 2021 consisted of the following:

March 31, 2022 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US federal agencies	$	41,902	$	112	$	(1,961	)	$	40,053
State and municipalities		7,280		10		(268	)		7,022
Total	$	49,182	$	122	$	(2,229	)	$	47,075
December 31, 2021 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US federal agencies	$	35,469	$	672	$	(403	)	$	35,738
State and municipalities		9,025		60		(51	)		9,034
Total	$	44,494	$	732	$	(454	)	$	44,772

Summary of Amortized Cost and Estimated Market Value of Investment Securities by Contractual Maturity

The amortized cost and estimated market value of investment securities at March 31, 2022 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

March 31, 2022 (Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	22	$	22
Due after one year through five years		9,568		9,494
Due after five years through ten years		9,734		9,238
Due after ten years		29,858		28,321
Total	$	49,182	$	47,075

Summary of Securities with Gross Unrealized Losses

The following tables show information pertaining to securities with gross unrealized losses at March 31, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous loss position.

	Less than Twelve Months					Twelve Months and Over
March 31, 2022 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US federal agencies	$	(759	)	$	18,862	$	(1,202	)	$	11,040
State and municipalities		(137	)		3,119		(131	)		1,474
Total	$	(896	)	$	21,981	$	(1,333	)	$	12,514
	Less than Twelve Months					Twelve Months and Over
December 31, 2021 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of US federal agencies	$	(403	)	$	16,330	$	—		$	—
State and municipalities		(9	)		2,124		(42	)		(1,956	)
Total	$	(412	)	$	18,454	$	(42	)	$	(1,956	)

The Company had 37 and 15 securities at March 31, 2022 and December 31, 2021, with u