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INVESTMENT SECURITIES (Tables)
3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments in Available-for-sale and Held-to-maturity Securities
The following is a summary of the Company's investments in available for sale and held to maturity securities as of March 31, 2022 and December 31, 2021: 
As of March 31, 2022Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair value
(Dollars in thousands)
Available for sale:    
Corporate debt obligations$500 $— $— $500 
Residential mortgage-backed securities11,558 38 292 11,304 
Collateralized mortgage obligations— — 
Total available for sale$12,064 $38 $292 $11,810 
     
Held to maturity:    
Residential mortgage-backed securities$6,121 $— $527 $5,594 
States and political subdivisions3,776 112 424 3,464 
Total held to maturity$9,897 $112 $951 $9,058 
As of December 31, 2021Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair value
(Dollars in thousands)
Available for sale:    
Corporate debt obligations$500 $— $— $500 
Residential mortgage-backed securities12,513 372 42 12,843 
Collateralized mortgage obligations— — 
Total available for sale$13,021 $372 $42 $13,351 
     
Held to maturity:    
States and political subdivisions$3,761 $241 $16 $3,986 
Residential mortgage-backed securities6,157 — 118 6,039 
Total held to maturity$9,918 $241 $134 $10,025 
Investments Classified by Contractual Maturity
The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of March 31, 2022 are as follows:
 Amortized
Cost
Fair
Value
 (Dollars in thousands)
Available for sale: 
Due within one year$$
Due after one year through five years752 742 
Due after five years through ten years6,512 6,359 
Due after ten years4,796 4,706 
Total available for sale$12,064 $11,810 
Held to maturity: 
Due within one year$— $— 
Due after one year through five years1,299 1,410 
Due after five years through ten years— — 
Due after ten years8,598 7,648 
Total held to maturity$9,897 $9,058 
Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position The following tables show the gross unrealized losses and fair value of the Company's investments which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2022 and December 31, 2021:
As of March 31, 2022Less Than 12 Months12 Months or GreaterTotal
Description of SecuritiesFair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
 (Dollars in thousand)
Available for sale:      
Residential mortgage-backed securities$8,572 $194 $1,230 $98 $9,802 $292 
Total available for sale$8,572 $194 $1,230 $98 $9,802 $292 
Held to maturity:
Residential mortgage-backed securities$5,594 $527 $— $— $5,594 $527 
States and political subdivisions2,054 424 — — 2,054 424 
Total held to maturity$7,648 $951 $— $— $7,648 $951 

As of December 31, 2021Less Than 12 Months12 Months or GreaterTotal
Description of SecuritiesFair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
 (Dollars in thousands)
Available for sale:      
Residential mortgage-backed securities$168 $$1,418 $41 $1,586 $42 
Total available for sale$168 $$1,418 $41 $1,586 $42 
Held to maturity:
Residential mortgage-backed securities$$118 $— $— $$118 
States and political subdivisions2,462 16 — — 2,462 16 
Total held to maturity$2,468 $134 $— $— $2,468 $134