Investment Securities (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Investments [Abstract]

Summary of Fixed Maturity Securities Available for Sale

maturity securities available for sale as of June 30, 2024 and December 31, 2023:

June 30, 2024 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	43,255	$	2	$	(4,763	)	$	38,494
State and municipalities		16,751		52		(1,620	)		15,183
Agency bonds		2,183		—		(30	)		2,153
Total	$	62,189	$	54	$	(6,413	)	$	55,830
December 31, 2023 (Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	44,653	$	—	$	(4,791	)	$	39,862
State and municipalities		13,733		21		(1,501	)		12,253
Agency bonds		2,187		—		(20	)		2,167
Total	$	60,573	$	21	$	(6,312	)	$	54,282

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 June 30, 2024 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.

June 30, 2024 (Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	2,039	$	1,996
Due after one year through five years		5,820		5,608
Due after five years through ten years		8,380		7,370
Due after ten years		45,950		40,856
Total	$	62,189	$	55,830

Summary of Securities with Gross Unrealized Losses

The following tables show information pertaining to securities with gross unrealized losses at June 30, 2024 and December 31, 2023, 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
June 30, 2024 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	(30	)	$	1,988	$	(4,733	)	$	36,024
State and municipalities		(70	)		3,130		(1,550	)		10,005
Agency bonds		—			—		(30	)		2,153
Total	$	(100	)	$	5,118	$	(6,313	)	$	48,182
	Less than Twelve Months					Twelve Months and Over
December 31, 2023 (Dollars in thousands)	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
Mortgage-backed securities, principally obligations of U.S. federal agencies	$	(78	)	$	5,797	$	(4,714	)	$	33,971
State and municipalities		(204	)		4,839		(1,296	)		7,371
Agency bonds		—			—		(20	)		2,167
Total	$	(282	)	$	10,636	$	(6,030	)	$	43,509