INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2024

INVESTMENT SECURITIES

Schedule of amortized cost and fair values of securities

	September 30, 2024
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale
Mortgage-backed securities	$	32,182	$	136	$	(3,402)	$	28,916
U.S. Government and agency obligations		1,000		-		(5)		995
Municipal obligations		2,407		26		(148)		2,285
Total available-for-sale	$	35,589	$	162	$	(3,555)	$	32,196
Securities held-to-maturity
U.S. Government and agency obligations	$	13,000	$	-	$	(1,733)	$	11,267
Municipal obligations		450		-		(18)		432
Total held-to-maturity	$	13,450	$	-	$	(1,751)	$	11,699

	December 31, 2023
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale
Mortgage-backed securities	$	65,704	$	14	$	(8,206)	$	57,512
U.S. Government and agency obligations		7,999		-		(611)		7,388
Municipal obligations		5,998		7		(365)		5,640
Total available-for-sale	$	79,701	$	21	$	(9,182)	$	70,540
Securities held-to-maturity
U.S. Government and agency obligations	$	13,003	$	-	$	(2,210)	$	10,793
Municipal obligations		458		-		(24)		434
Total held-to-maturity	$	13,461	$	-	$	(2,234)	$	11,227

Schedule of maturities of securities held-to-maturity and available-for-sale

	September 30, 2024
	Available-for-Sale				Held-to-Maturity
(Dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Amounts maturing in:
One year or less	$	1,700	$	1,693	$	-	$	-
After one through five years		3,870		3,965		2,450		2,277
After five through ten years		2,583		2,606		7,000		6,051
After ten years		27,436		23,932		4,000		3,371
Total	$	35,589	$	32,196	$	13,450	$	11,699

	December 31, 2023
	Available-for-Sale				Held-to-Maturity
(Dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Amounts maturing in:
One year or less	$	1,700	$	1,643	$	-	$	-
After one through five years		10,676		10,226		2,334		2,095
After five through ten years		14,909		13,673		7,124		5,899
After ten years		52,416		44,998		4,003		3,233
Total	$	79,701	$	70,540	$	13,461	$	11,227

Schedule of securities with gross unrealized losses

	September 30, 2024
	Less than 12 Months				12 Months or Greater				Total
(Dollars in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Securities available-for-sale
Mortgage-backed securities	$	2,973	$	(13)	$	19,523	$	(3,389)	$	22,496	$	(3,402)
U.S. Government and agency obligations		-		-		995		(5)		995		(5)
Municipal obligations		-		-		1,282		(148)		1,282		(148)
Total available-for-sale	$	2,973	$	(13)	$	21,800	$	(3,542)	$	24,773	$	(3,555)
Securities held-to-maturity
U.S. Government and agency obligations	$	-	$	-	$	11,267	$	(1,733)	$	11,267	$	(1,733)
Municipal obligations		-		-		432		(18)		432		(18)
Total held-to-maturity	$	-	$	-	$	11,699	$	(1,751)	$	11,699	$	(1,751)
Total	$	2,973	$	(13)	$	33,499	$	(5,293)	$	36,472	$	(5,306)

	December 31, 2023
	Less than 12 Months				12 Months or Greater				Total
(Dollars in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Securities available-for-sale
Mortgage-backed securities	$	554	$	(1)	$	55,959	$	(8,205)	$	56,513	$	(8,206)
U.S. Government and agency obligations		-		-		7,388		(611)		7,388		(611)
Municipal obligations		-		-		3,992		(365)		3,992		(365)
Total available-for-sale	$	554	$	(1)	$	67,339	$	(9,181)	$	67,893	$	(9,182)
Securities held-to-maturity
U.S. Government and agency obligations	$	-	$	-	$	10,793	$	(2,210)	$	10,793	$	(2,210)
Municipal obligations		-		-		434		(24)		434		(24)
Total held-to-maturity	$	-	$	-	$	11,227	$	(2,234)	$	11,227	$	(2,234)
Total	$	554	$	(1)	$	78,566	$	(11,415)	$	79,120	$	(11,416)