Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments

Schedule of gain and losses on investments

	Three Months Ended March 31,
	2023		2022
Investment income, net of investment expenses	$	825	$	265
Realized gains on investments		4		2
Realized losses on investments		(71)		(70)
Investment income and realized gains (losses), net of investment expenses	$	758	$	197

Summary of amortized cost, market value and unrealized gains (losses) of debt securities

	As of March 31, 2023
			Gross Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. Treasuries	$	34,637	$	12	$	(226)	$	34,423
Obligations of states, municipalities and political subdivisions		11,304		13		(1,054)		10,263
Corporate bonds		34,549		96		(2,610)		32,035
Residential and commercial mortgage-backed securities		11,527		11		(1,162)		10,376
Other loan-backed and structured securities		6,398		14		(390)		6,022
Total investment securities	$	98,415	$	146	$	(5,442)	$	93,119

	As of December 31, 2022
			Gross Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. Treasuries	$	35,637	$	5	$	(320)	$	35,322
Obligations of states, municipalities and political subdivisions		11,549		2		(1,326)		10,225
Corporate bonds		31,032		32		(2,837)		28,227
Residential and commercial mortgage-backed securities		12,790		11		(1,268)		11,533
Other loan-backed and structured securities		6,804		6		(476)		6,334
Total investment securities	$	97,812	$	56	$	(6,227)	$	91,641

Summary of remaining time to maturity

	As of March 31, 2023
Remaining Time to Maturity	Amortized Cost		Fair Value
Due in one year or less	$	33,719	$	33,640
Due after one year through five years		18,734		17,303
Due after five years through ten years		21,836		20,099
Due after ten years		6,201		5,679
Residential and commercial mortgage-backed securities		11,527		10,376
Other loan-backed and structured securities		6,398		6,022
Total	$	98,415	$	93,119

Summary of securities with gross unrealized loss position

	Less Than Twelve Months				Twelve Months or Greater				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
At March 31, 2023	Loss		Value		Loss		Value		Loss		Value
U.S. Treasuries	$	(66)	$	16,320	$	(160)	$	2,251	$	(226)	$	18,571
Obligations of states, municipalities and political subdivisions		(48)		1,936		(1,006)		7,852		(1,054)		9,788
Corporate bonds		(617)		12,375		(1,993)		15,615		(2,610)		27,990
Residential and commercial mortgage-backed securities		(260)		3,190		(902)		7,149		(1,162)		10,339
Other loan-backed and structured securities		(149)		1,712		(241)		3,696		(390)		5,408
Total securities	$	(1,140)	$	35,533	$	(4,302)	$	36,563	$	(5,442)	$	72,096

	Less Than Twelve Months				Twelve Months or Greater				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
At December 31, 2022	Loss		Value		Loss		Value		Loss		Value
U.S. Treasuries	$	(127)	$	10,748	$	(193)	$	9,824	$	(320)	$	20,572
Obligations of states, municipalities and political subdivisions		(929)		6,258		(397)		3,504		(1,326)		9,762
Corporate bonds		(1,623)		16,531		(1,214)		10,328		(2,837)		26,859
Residential and commercial mortgage-backed securities		(687)		6,565		(581)		4,952		(1,268)		11,517
Other loan-backed and structured securities		(359)		4,633		(117)		1,094		(476)		5,727
Total securities	$	(3,725)	$	44,735	$	(2,502)	$	29,702	$	(6,227)	$	74,437