Investment Securities Available for Sale (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Carrying Amount and Fair Values of Investment Securities Available For Sale

The carrying amount of securities and their approximate fair values as of June 30, 2022 and December 31, 2021 are as follows:

	June 30, 2022
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
State and municipal securities	$	424	$	—	$	2	$	422
Mortgage-backed securities		20,665		—		22		20,643
U.S. Treasury bonds		100,911		—		868		100,043
Corporate bonds		37,547		143		1,537		36,153
	$	159,547	$	143	$	2,429	$	157,261

	December 31, 2021
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities Available-for-sale:
State and municipal securities	$	1,087	$	7	$	—	$	1,094
Mortgage-backed securities		791		20		—		811
Corporate bonds		23,556		972		1		24,527
	$	25,434	$	999	$	1	$	26,432

Schedule of Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and estimated fair value of securities available for sale at June 30,2022, by contractual maturity, are shown below.

	June 30, 2022
	Securities Available for Sale
(Dollars in thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	—	$	—
Due from one year to five years		101,335		100,465
Due from five to ten years		37,547		36,153
		138,882		136,618
Mortgage-backed securities		20,665		20,643
	$	159,547	$	157,261

Summary of Securities with Unrealized Losses

The following table summarizes securities with unrealized losses at June 30, 2022 and December 31, 2021, aggregated by major security type and length of time in a continuous unrealized loss position:

	June 30, 2022
(Dollars in thousands)	Less Than 12 Months in a Loss Position		Greater Than 12 Months in a Loss Position		Total Unrealized Loss		Estimated Fair Value
Securities available-for-sale:
State and municipal securities	$	2	$	—	$	2	$	422
Mortgage-backed securities		22		—		22		656
U.S. Treasury bonds		868		—		868		100,043
Corporate bonds		1,537		—		1,537		29,261
	$	2,429	$	—	$	2,429	$	130,382
	December 31, 2021
(Dollars in thousands)	Less Than 12 Months in a Loss Position		Greater Than 12 Months in a Loss Position		Total Unrealized Loss		Estimated Fair Value
Securities available-for-sale:
State and municipal securities	$	—	$	—	$	—	$	—
Mortgage-backed securities		—		—		—		—
U.S. Treasury bonds		—		—		—		—
Corporate bonds		—		1		1		3,999
	$	—	$	1	$	1	$	3,999