INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2022

INVESTMENT SECURITIES

Schedule of the amortized cost and fair value of securities held to maturity, with gross unrecognized gains and losses

			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
June 30, 2022	Cost		Gains		Losses		Value
Investment securities held-to-maturity:
U.S. Treasury debt	$	240	$	—	$	(4)	$	236
U.S. Government Agency		252		—		(2)		250
Corporate bonds		24,085		6		(651)		23,440
GNMA mortgage-backed securities – residential		43,583		—		(1,089)		42,494
FNMA mortgage-backed securities – residential		7,184		—		(333)		6,851
Government CMO and MBS - commercial		7,426		14		(249)		7,191
Corporate CMO and MBS		4,259		74		(53)		4,280
Total securities held-to-maturity	$	87,029	$	94	$	(2,381)	$	84,742

Schedule of the amortized cost and fair value of securities available for sale, with gross unrealized gains and losses recognized

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2021	Cost		Gains		Losses		Value
Investment securities available-for-sale:
U.S. Treasury debt	$	250	$	—	$	(3)	$	247
U.S. Government Agency		3,522		—		—		3,522
Corporate bonds		8,113		227		(15)		8,325
GNMA mortgage-backed securities – residential		26,611		185		(146)		26,650
FNMA mortgage-backed securities – residential		14,400		43		—		14,443
Government CMO and MBS - commercial		878		—		—		878
Corporate CMO and MBS		1,492		23		(18)		1,497
Total securities available-for-sale	$	55,266	$	478	$	(182)	$	55,562

Summary of the amortized cost and estimated fair value of held to maturity securities

	Amortized		Fair
June 30, 2022	Cost		Value
Due within one year	$	363	$	361
Due between one year and five years		2,233		2,196
Due between five years and ten years		21,582		20,975
Due after ten years		399		394
Securities (CMO and MBS)		62,452		60,816
Total	$	87,029	$	84,742

Schedule of unrealized loss on held to maturity and available for sale securities

The following presents securities with unrealized losses aggregated by major security type and length of time in a continuous unrealized loss position as of the dates noted (dollars in thousands, before tax):

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
June 30, 2022	Value		Losses		Value		Losses		Value		Losses
Investment securities held-to-maturity:
U.S. Treasury debt	$	236	$	(14)	$	—	$	—	$	236	$	(14)
U.S. Government Agency		250		(2)		—		—		250		(2)
Corporate bonds		20,836		(689)		475		(26)		21,311		(715)
GNMA mortgage-backed securities – residential		40,306		(2,131)		2,094		(248)		42,400		(2,379)
FNMA mortgage-backed securities – residential		6,851		(760)		—		—		6,851		(760)
Government CMO and MBS - commercial		6,304		(657)		—		—		6,304		(657)
Corporate CMO and MBS		761		(36)		435		(43)		1,196		(79)
Total	$	75,544	$	(4,289)	$	3,004	$	(317)	$	78,548	$	(4,606)

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2021	Value		Losses		Value		Losses		Value		Losses
Investment securities available-for-sale:
U.S. Treasury debt	$	247	$	(3)	$	—	$	—	$	247	$	(3)
Corporate bonds		485		(15)		—		—		485		(15)
GNMA mortgage-backed securities – residential		17,205		(146)		—		—		17,205		(146)
Corporate CMO and MBS		—		—		521		(18)		521		(18)
Total	$	17,937	$	(164)	$	521	$	(18)	$	18,458	$	(182)