XML 37 R26.htm IDEA: XBRL DOCUMENT v3.24.3
Securities (Tables)
 9 Months Ended
Sep. 30, 2024
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 September 30, 2024 and December 31, 2023:

September 30, 2024
($ in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Fair
Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$43,472 $2 $(3,313)$40,161 
Residential collateralized mortgage obligations166,819 1,014 (14,719)153,114 
Municipal securities - tax exempt5,803 298 (3)6,098 
Total AFS debt securities$216,094 $1,314 $(18,035)$199,373 

December 31, 2023
($ in thousands)
Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Loss
Fair
Value
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$48,318 $— $(4,441)$43,877 
Residential collateralized mortgage obligations162,142 67 (17,750)144,459 
Municipal securities - tax exempt5,726 189 (1)5,914 
Total AFS debt securities$216,186 $256 $(22,192)$194,250 
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 September 30, 2024, by contractual maturity, are shown below:

($ in thousands)Amortized
Cost		Fair
Value
After one year through five years$976 $950 
After five years through ten years2,608 2,443 
After ten years212,510 195,980 
Total AFS debt securities$216,094 $199,373 
Schedule of Unrealized Losses on AFS Debt Securities
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 September 30, 2024 and December 31, 2023:

September 30, 2024
Less Than 12 Months12 Months or LongerTotal
($ in thousands)
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$— $— $34,246 $(3,313)$34,246 $(3,313)
Residential collateralized mortgage obligations— — 99,258 (14,719)99,258 (14,719)
Municipal securities - tax exempt— — 1,841 (3)1,841 (3)
Total AFS debt securities$— $— $135,345 $(18,035)$135,345 $(18,035)
December 31, 2023
Less Than 12 Months12 Months or LongerTotal
($ in thousands)
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$6,488 $(59)$37,389 $(4,382)$43,877 $(4,441)
Residential collateralized mortgage obligations25,439 (177)105,963 (17,573)131,402 (17,750)
Municipal securities - tax exempt1,842 (1)— — 1,842 (1)
Total AFS debt securities$33,769 $(237)$143,352 $(21,955)$177,121 $(22,192)
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 September 30, 2024 and December 31, 2023:

($ in thousands)September 30, 2024December 31, 2023
FHLB stock$12,615 $12,528 
Pacific Coast Bankers Bank ("PCBB") stock190 190 
Mutual fund - Community Reinvestment Act ("CRA") qualified3,615 3,463 
Time deposits placed in other banks100 95 
Total other investments$16,520 $16,276