Investment Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Securities Available-for-Sale and Held-to-Maturity

Details of investment securities available-for-sale and held-to-maturity as of March 31, 2024 and December 31, 2023 were as follows:

	Available-for-Sale
	March 31, 2024
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	45,179	$	460	$	(3,086	)	$	42,553
Commercial		14,610		3		(334	)		14,279
Obligations of U.S. government-sponsored agencies		11,645		84		(720	)		11,009
Obligations of states and political subdivisions		1,610		—		(65	)		1,545
Corporate notes		17,752		—		(2,909	)		14,843
U.S. Treasury securities		44,009		—		(2,858	)		41,151
Total	$	134,805	$	547	$	(9,972	)	$	125,380

	Held-to-Maturity
	March 31, 2024
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	468	$	—	$	(20	)	$	448
Obligations of U.S. government-sponsored agencies		462		—		(36	)		426
Obligations of states and political subdivisions		53		—		(6	)		47
Total	$	983	$	—	$	(62	)	$	921

	Available-for-Sale
	December 31, 2023
			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	47,221	$	580	$	(3,073	)	$	44,728
Commercial		9,446		—		(406	)		9,040
Obligations of U.S. government-sponsored agencies		11,849		158		(727	)		11,280
Obligations of states and political subdivisions		1,621		—		(63	)		1,558
Corporate notes		17,757		—		(2,800	)		14,957
U.S. Treasury securities		56,999		—		(2,997	)		54,002
Total	$	144,893	$	738	$	(10,066	)	$	135,565

	Held-to-Maturity
	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	575	$	—	$	(22	)	$	553
Obligations of U.S. government-sponsored agencies		471		—		(34	)		437
Obligations of states and political subdivisions		58		—		(7	)		51
Total	$	1,104	$	—	$	(63	)	$	1,041

Maturities of Investment Securities Available-for-Sale and Held-to-Maturity

The scheduled maturities of investment securities available-for-sale and held-to-maturity as of March 31, 2024 are presented in the following table:

	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in Thousands)
Maturing within one year	$	3,989	$	3,878	$	—	$	—
Maturing after one to five years		50,154		46,853		184		176
Maturing after five to ten years		54,852		48,970		618		579
Maturing after ten years		25,810		25,679		181		166
Total	$	134,805	$	125,380	$	983	$	921

Schedule of Unrealized Loss on Investments and Fair Value for Securities for Which Allowance for Credit Losses has not been Recorded

The following tables reflect 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, as of March 31, 2024 and December 31, 2023.

	Available-for-Sale
	March 31, 2024
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	190	$	(5	)	$	33,610	$	(3,081	)
Commercial		5,780		(12	)		7,883		(322	)
Obligations of U.S. government-sponsored agencies		—		—			4,372		(720	)
Obligations of states and political subdivisions		—		—			1,545		(65	)
Corporate notes		—		—			14,843		(2,909	)
U.S. Treasury securities		—		—			41,151		(2,858	)
Total	$	5,970	$	(17	)	$	103,404	$	(9,955	)

	Held-to-Maturity
	March 31, 2024
	Less than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	—	$	—	$	448	$	(20	)
Obligations of U.S. government-sponsored agencies		—		—		426		(36	)
Obligations of states and political subdivisions		—		—		47		(6	)
Total	$	—	$	—	$	921	$	(62	)

	Available-for-Sale
	December 31, 2023
	Less than 12 Months					12 Months or More
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Residential	$	94	$	(1	)	$	35,584	$	(3,072	)
Commercial		600		(5	)		8,408		(401	)
Obligations of U.S. government-sponsored agencies		—		—			4,367		(727	)
Obligations of states and political subdivisions		—		—			1,558		(63	)
Corporate notes		771		(229	)		14,186		(2,571	)
U.S. Treasury securities		—		—			54,002		(2,997	)
Total	$	1,465	$	(235	)	$	118,105	$	(9,831	)

	Held-to-Maturity
	December 31, 2023
	Less than 12 Months				12 Months or More
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in Thousands)
Mortgage-backed securities:
Commercial	$	—	$	—	$	553	$	(22	)
Obligations of U.S. government-sponsored agencies		—		—		437		(34	)
Obligations of states and political subdivisions		—		—		51		(7	)
Total	$	—	$	—	$	1,041	$	(63	)