Investment Securities Available for Sale (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024 and December 31, 2023 are as follows:

(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized  Losses		Estimated Fair Value
June 30, 2024
Securities available-for-sale:
U.S government and agency securities	$	18,844	$	43	$	73	$	18,814
State and municipal securities		1,000		3		—		1,003
Mortgage-backed securities and collateralized mortgage obligations		177,120		996		1,240		176,876
Corporate bonds		94,744		408		5,678		89,474
	$	291,708	$	1,450	$	6,991	$	286,167

December 31, 2023
Securities Available-for-sale:
U.S. government and agency securities	$	4,017	$	—	$	26	$	3,991
Mortgage-backed securities and collateralized mortgage obligations		77,703		1,599		769		78,533
Corporate bonds		100,371		861		5,669		95,563
	$	182,091	$	2,460	$	6,464	$	178,087

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, 2024, by contractual maturity, are shown below.

	June 30, 2024
	Securities Available-for-Sale
(Dollars in thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,401	$	7,400
Due from one year to five years		7,946		8,010
Due from five to ten years		80,397		75,067
Over ten years		18,844		18,814
		114,588		109,291
Mortgage-backed securities and collateralized mortgage obligations		177,120		176,876
	$	291,708	$	286,167

Summary of Securities with Unrealized Losses

The following table summarizes securities with unrealized losses at June 30, 2024 and December 31, 2023, aggregated by major security type and length of time in a continuous unrealized loss position:

(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
June 30, 2024
Securities available-for-sale:
U.S. government and agency securities	$	73	$	—	$	73	$	8,727
Mortgage-backed securities and collateralized mortgage obligations		271		969		1,240		63,664
Corporate bonds		1,398		4,280		5,678		60,506
	$	1,742	$	5,249	$	6,991	$	132,897
December 31, 2023
Securities available-for-sale:
U.S. government and agency securities	$	26	$	—	$	26	$	3,991
Mortgage-backed securities and collateralized mortgage obligations		—		769		769		16,001
Corporate bonds		128		5,541		5,669		64,143
	$	154	$	6,310	$	6,464	$	84,135