Debt Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Approximate Fair Values of Debt Securities

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
At March 31, 2024:
Available for sale:
SBA Pool Securities	$	675	$	—	$	(16	)	$	659
Collateralized mortgage obligations		134		—		(18	)		116
Taxable municipal securities		16,682		—		(4,779	)		11,903
Mortgage-backed securities		13,708		—		(2,806	)		10,902
Total	$	31,199	$	—	$	(7,619	)	$	23,580
Held-to-maturity:
Collateralized mortgage obligations	$	336	$	—		(39	)	$	297
Mortgage-backed securities		—		—		—			—
Total	$	336	$	—		(39	)	$	297

(continued)

OPTIMUMBANK HOLDINGS, INC. AND SUBSIDIARY

Notes to Condensed Consolidated Financial Statements (Unaudited)

(2) Debt Securities, Continued.

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
At December 31, 2023:
Available for sale:
SBA Pool Securities	$	706	$	—	$	(16	)	$	690
Collateralized mortgage obligations		138		—		(15	)		123
Taxable municipal securities		16,690		—		(4,480	)		12,210
Mortgage-backed securities		13,927		—		(2,595	)		11,332
Total	$	31,461	$	—	$	(7,106	)	$	24,355
Held-to-maturity:
Collateralized mortgage obligations	$	353	$	—		(35	)	$	318
Mortgage-backed securities		7		1		—			8
Total	$	360	$	1		(35	)	$	326

Schedule of Debt Securities Available for Sale with Gross Unrealized Losses, by Investment Category

Debt securities available for sale with gross unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position, is as follows (in thousands):

	Over Twelve Months				Less Than Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
At March 31, 2024:
Available for Sale:
SBA Pool Securities		16		659		—		—
Collateralized mortgage obligation		—		—		18		116
Taxable municipal securities		4,779		11,903		—		—
Mortgage-backed securities		2,806		10,902		—		—
Total	$	7,601	$	23,464	$	18	$	116

	Over Twelve Months				Less Than Twelve Months
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
At December 31, 2023:
Available for Sale :
SBA Pool Securities		16		690		—		—
Collateralized mortgage obligation		—		—		15		123
Taxable municipal securities		4,480		12,210		—		—
Mortgage-backed securities		2,595		11,332		—		—
Total	$	7,091	$	24,232	$	15	$	123