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SECURITIES
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
The amortized cost and fair value of securities at September 30, 2022 and December 31, 2021 are summarized as follows:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
September 30, 2022
Securities Available for Sale
U.S. Treasury securities$9,775 $— $(1,250)$8,525 
U.S. Government Sponsored Enterprises (GSEs)2,133 — (229)1,904 
State and municipal securities56,399 29 (8,547)47,881 
Corporate debt securities12,529 — (721)11,808 
Asset based securities14,698 4 (701)14,001 
 Mortgage-backed GSE residential/multifamily and non-GSE71,945 1 (5,347)66,599 
Total securities available for sale$167,479 $34 $(16,795)$150,718 
Securities Held to Maturity
State and municipal securities19,657 — (4,362)15,295 
Total securities held to maturity$19,657 $— $(4,362)$15,295 
Total securities$187,136 $34 $(21,157)$166,013 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities$7,820 $22 $(20)$7,822 
U.S. Government Sponsored Enterprises (GSEs)9,228 68 (103)9,193 
State and municipal securities54,236 2,611 (66)56,781 
Corporate debt securities10,530 289 (35)10,784 
Asset based securities10,380 116 (24)10,472 
 Mortgage-backed GSE residential/multifamily and non-GSE37,123 185 (188)37,120 
Total securities available for sale$129,317 $3,291 $(436)$132,172 
Securities Held to Maturity
State and municipal securities19,672 364 (126)19,910 
Total securities held to maturity$19,672 $364 $(126)$19,910 
Total securities$148,989 $3,655 $(562)$152,082 
Securities with a carrying value of $35,322 and $46,263 at September 30, 2022 and December 31, 2021, respectively, were pledged to secure public deposits and for other purposes as required or permitted by law.
The amortized cost and fair value of securities available for sale and securities held to maturity as of September 30, 2022 and December 31, 2021 by contractual maturity are shown below. Actual maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid with or without penalty. Therefore, these securities are not included by maturity in the following summary:
September 30, 2022December 31, 2021
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Securities Available for Sale
Due in less than one year$— $— $302$302
Due from one year to five years8,343 7,802 2,7662,790
Due after five to ten years23,658 21,248 26,47526,764
Due after ten years63,533 55,069 62,65165,196
Mortgage-backed securities71,945 66,599 37,12337,120
Total securities available for sale$167,479 $150,718 $129,317 $132,172 
Securities Held to Maturity
Due in less than one year$— $— $—$—
Due from one year to five years— — ——
Due after five to ten years3,022 2,429 1,1001,115
Due after ten years16,635 12,866 18,57218,795
Mortgage-backed securities— — ——
Total securities held to maturity$19,657 $15,295 $19,672 $19,910 
Total securities$187,136 $166,013 $148,989 $152,082 
Restricted equity securities as of September 30, 2022 and December 31, 2021 consist of the following:
September 30,
2022		December 31,
2021
Federal Home Loan Bank stock$1,866 $1,675 
First National Banker’s Bankshares, Inc. stock675 675 
Pacific Coast Banker’s Bank stock250 250 
Total restricted equity securities$2,791 $2,600 
Temporarily Impaired Securities
The following table shows the gross unrealized losses and fair value of securities, aggregated by category and length of time that securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021.
Less Than Twelve MonthsOver Twelve Months
Gross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueTotal
Unrealized
Losses
September 30, 2022
Securities Available for Sale
U.S. Treasury securities$(507)$3,941 $(743)$4,584 $(1,250)
U.S. Government Sponsored Enterprises (GSEs)— — (229)1,904 (229)
State and municipal securities(7,382)41,783 (1,165)3,928 (8,547)
Corporate debt securities(436)9,069 (285)2,489 (721)
Asset based securities(491)10,043 (210)3,231 (701)
Mortgage-backed GSE residential/multifamily and non-GSE(4,947)59,984 (400)4,670 (5,347)
Total securities available for sale$(13,763)$124,820 $(3,032)$20,806 $(16,795)
Securities Held to Maturity
State and municipal securities(3,177)11,660 (1,185)3,634 (4,362)
Total securities held to maturity$(3,177)$11,660 $(1,185)$3,634 $(4,362)
Total securities$(16,940)$136,480 $(4,217)$24,440 $(21,157)
Temporarily Impaired Securities (Continued)
Less Than Twelve MonthsOver Twelve Months
Gross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueTotal
Unrealized
Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities$(20)$5,347 $— $— $(20)
U.S. Government Sponsored Enterprises (GSEs)(57)1,946 (46)1,899 (103)
State and municipal securities(66)6,270 — — (66)
Corporate debt securities(35)2,995 — — (35)
Asset based securities(21)2,842 (3)879 (24)
Mortgage-backed GSE residential/multifamily and non-GSE(158)16,226 (30)2,749 (188)
Total securities available for sale$(357)$35,626 $(79)$5,527 $(436)
Securities Held to Maturity
State and municipal securities(126)6,450 — — (126)
Total securities held to maturity$(126)$6,450 $— $— $(126)
Total securities$(483)$42,076 $(79)$5,527 $(562)
The unrealized losses on 219 securities at September 30, 2022 were caused by interest rate changes. Because the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell the securities before recovery of the amortized cost bases, at maturity, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2022.
Other-Than-Temporary Impairment
The Company routinely conducts periodic reviews to identify and evaluate each investment security to determine whether an other-than-temporary impairment has occurred. Factors included in the evaluation process may include geographic concentrations, credit ratings, and other performance indicators of the underlying asset. As of September 30, 2022 and December 31, 2021, no securities within the Company’s investment securities portfolio was considered other-than-temporarily impaired.