INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2022

  Investment securities activity

Schedule of securities amortized cost and estimated fair value

				Gross		Gross		Approximate
		Amortized		Unrealized		Unrealized		Fair
(Dollars are in thousands)		Cost		Gains		Losses		Value
September 30, 2022
U.S. Treasuries	$	12,639	$	-	$	993	$	11,646
U.S. Government Agencies		10,451		4		695		9,760
Taxable municipals		23,338	-		5,560		17,778
Corporate bonds		3,515	-		340		3,175
Mortgage backed securities		66,301	-		9,815		56,486
Total Securities available for sale	$	116,244	$	4	$	17,403	$	98,845
December 31, 2021
U.S. Treasuries	$	7,791	$	2	$	122	$	7,671
U.S. Government Agencies		9,098		77		86		9,089
Taxable municipals		23,075		159		254		22,980
Corporate bonds		2,014		23		18		2,019
Mortgage backed securities		66,410		143		954		65,599
Total Securities available for sale	$	108,388	$	404	$	1,434	$	107,358

Schedule of fair value and gross unrealized losses on investment securities

	Less than 12 Months				12 Months or More				Total
(Dollars are in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
September 30, 2022
U.S. Treasuries	$	5,115	$	283	$	5,564	$	710	$	10,679	$	993
U.S. Government Agencies		5,450		362		3,120		333		8,570		695
Taxable municipals		7,009		2,131		9,969		3,429		16,978		5,560
Corporate bonds		2,288		228		388		112		2,676		340
Mortgage backed securities		14,463		1,759		39,512		8,056		53,975		9,815
Total Securities available for sale	$	34,325	$	4,763	$	58,553	$	12,640	$	92,878	$	17,403
December 31, 2021
U.S. Treasuries	$	6,200	$	122	$	—	$	—	$	6,200	$	122
U.S. Government Agencies		977		10		3,434		76		4,411		86
Taxable municipals		13,040		237		387		17		13,427		254
Corporate bonds		1,482		18		—		—		1,482		18
Mortgage backed securities		52,180		758		6,282		196		58,462		954
Total Securities available for sale	$	73,879	$	1,145	$	10,103	$	289	$	83,982	$	1,434

Schedule of summarizes sales of AFS debt securities

(Dollars are in thousands)	2022		2021
Proceeds	$	—	$	7,686
Gains		—		322
Losses		—		—
Tax provision (benefit)		—		68

Schedule of amortized cost and fair value of investment securities contractual maturity

					Weighted
(Dollars are in thousands)	Amortized		Fair		Average
Securities Available-for-Sale	Cost		Value		Yield
Due in one year or less	$	1,777	$	1,776		4.30	%
Due after one year through five years		16,829		15,805		2.09	%
Due after five years through ten years		14,663		12,832		1.98	%
Due after ten years		82,975		68,432		1.82	%
Total	$	116,244	$	98,845		1.92	%