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Securities (Tables)
3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Fair Value, and Corresponding Amounts of Gross Unrealized Gains and Losses for Available for Sale Securities
The following table summarizes the amortized cost, the corresponding amounts of gross unrealized gains and losses, and estimated fair value of available-for-sale ("AFS") debt securities as of March 31, 2022 and December 31, 2021:
March 31, 2022
($ in thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$42,907 $$(2,216)$40,696 
Residential collateralized mortgage obligations128,612 (8,131)120,486 
Total AFS debt securities$171,519 $10 $(10,347)$161,182 
December 31, 2021
($ in thousands)
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$37,555 $178 $(321)$37,412 
Residential collateralized mortgage obligations114,588 253 (1,809)113,032 
Total AFS debt securities$152,143 $431 $(2,130)$150,444 
Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale by Contractual Maturity The amortized cost and estimated fair value of AFS debt securities as of March 31, 2022, by contractual maturity, are shown below:
($ in thousands)Amortized
Cost
Fair
Value
After one year through five years$991 $994 
After five years through ten years3,653 3,593 
After ten years166,875 156,595 
Total AFS debt securities$171,519 $161,182 
Schedule of Securities With Unrealized Losses Aggregated by Length of Time in Continuous Unrealized Loss Position
The following table presents the fair value and the associated gross unrealized losses on AFS debt securities by length of time those individual securities in each category have been in a continuous loss as of March 31, 2022 and December 31, 2021:
March 31, 2022
Less Than 12 Months12 Months or LongerTotal
($ in thousands)
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$33,981 $(1,788)$5,358 $(428)$39,339 $(2,216)
Residential collateralized mortgage obligations93,604 (5,750)23,936 (2,381)117,540 (8,131)
Total AFS debt securities$127,585 $(7,538)$29,294 $(2,809)$156,879 $(10,347)
December 31, 2021
Less Than 12 Months12 Months or LongerTotal
($ in thousands)
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$31,120 $(321)$— $— $31,120 $(321)
Residential collateralized mortgage obligations93,607 (1,578)7,212 (231)100,819 (1,809)
Total AFS debt securities$124,727 $(1,899)$7,212 $(231)$131,939 $(2,130)
Schedule of Other Investments
The following table presents the other investment securities, which are included in Other investments on the Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021:
($ in thousands)March 31, 2022December 31, 2021
FHLB stock$7,006 $7,006 
PCBB stock190 190 
Mutual fund - CRA qualified3,545 3,708 
Time deposits placed in other banks95 95 
Total other investments$10,836 $10,999