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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows:
 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Available for sale
U.S. treasury securities$3,487 $— $27 $3,460 
SBA Pools6,768 634 6,135 
Federal agencies15,000 — 2,352 12,648 
State and municipal obligations171,495 34,457 137,042 
Mortgage-backed securities - government-sponsored enterprises (GSE) residential139,626 — 23,644 115,982 
Corporate obligations11,500 — 1,867 9,633 
347,876 62,981 284,900 
Held to maturity
State and municipal obligations6,672 17 112 6,577 
6,672 17 112 6,577 
Total investment securities$354,548 $22 $63,093 $291,477 
 2021
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Available for sale
SBA Pools$8,691 $29 $107 $8,613 
Federal agencies15,000 — 274 14,726 
State and municipal obligations166,489 2,261 1,298 167,452 
Mortgage-backed securities – government-sponsored enterprises (GSE) residential164,629 712 2,831 162,510 
Corporate obligations4,250 28 4,224 
Equity securities13 — — 13 
359,072 3,004 4,538 357,538 
Held to maturity
State and municipal obligations9,041 147 9,186 
9,041 147 9,186 
Total investment securities$368,113 $3,151 $4,540 $366,724 
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of securities at December 31, 2022, by contractual maturity, are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
 Available for SaleHeld to Maturity
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Within one year$2,380 $2,373 $1,258 $1,250 
One to five years15,989 15,067 3,609 3,558 
Five to ten years43,524 39,024 915 922 
After ten years146,357 112,454 890 847 
208,250 168,918 6,672 6,577 
Mortgage-backed securities –GSE residential139,626 115,982 — — 
Totals$347,876 $284,900 $6,672 $6,577 
Unrealized Gain (Loss) on Investments
The following tables show the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 and 2021:
 2022
 Less Than 12 Months12 Months or MoreTotal
Description of
 Securities
Fair
 Value
Unrealized
 Losses
Fair
 Value
Unrealized
 Losses
Fair
 Value
Unrealized
 Losses
Available-for-sale
U.S. treasury securities$3,460 $27 $— $— $3,460 $27 
SBA Pools1,237 145 4,234 489 5,471 634 
Federal agencies— — 12,648 2,352 12,648 2,352 
State and municipal obligations76,986 11,825 59,257 22,632 136,243 34,457 
Mortgage-backed securities – GSE residential32,446 3,440 83,537 20,204 115,983 23,644 
Corporate obligations7,044 1,456 2,589 411 9,633 1,867 
Total available-for-sale121,173 16,893 162,265 46,088 283,438 62,981 
Held-to-maturity
State and municipal obligations4,995 108 413 5,408 112 
Total temporarily impaired securities$126,168 $17,001 $162,678 $46,092 $288,846 $63,093 

2021
Less Than 12 Months12 Months or MoreTotal
Description of
 Securities
Fair
 Value
Unrealized
 Losses
Fair
 Value
Unrealized
 Losses
Fair
 Value
Unrealized
 Losses
Available-for-sale
SBA Pools$2,838 $81 $3,214 $26 $6,052 $107 
Federal agencies14,726 274 — — 14,726 274 
State and municipal obligations74,235 1,044 7,809 254 82,044 1,298 
Mortgage-backed securities – GSE residential111,104 2,576 6,523 255 117,627 2,831 
Corporate obligations2,972 28 — — 2,972 28 
Total available-for-sale205,875 4,003 17,546 535 223,421 4,538 
Held-to-maturity
State and municipal obligations421 — — 421 
Total temporarily impaired securities$206,296 $4,005 $17,546 $535 $223,842 $4,540