SECURITIES (Tables)

9 Months Ended

Sep. 30, 2024

SECURITIES

Schedule of amortized cost, related estimated fair value, and unrealized gains and losses for debt securities classified as Available-For-Sale

	Debt Securities Available-for-Sale
(Dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
September 30, 2024:	Cost		Gains		Losses		Value
U.S. Treasury securities	$	7,904	$	—	$	(633)	$	7,271
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		154,553		147		(11,354)		143,346
Other		5,521		91		(36)		5,576
Other mortgage backed securities		48,949		294		(1,875)		47,368
Obligations of state and political subdivisions		95,018		29		(8,301)		86,746
Asset-backed securities		77,368		284		(474)		77,178
Corporate debt securities		41,074		121		(3,599)		37,596
Total	$	430,387	$	966	$	(26,272)	$	405,081

	Debt Securities Available-for-Sale
(Dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2023:	Cost		Gains		Losses		Value
U.S. Treasury securities	$	7,881	$	—	$	(840)	$	7,041
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		152,510		—		(14,518)		137,992
Other		7,560		126		(54)		7,632
Other mortgage backed securities		36,623		168		(2,741)		34,050
Obligations of state and political subdivisions		97,899		18		(10,214)		87,703
Asset-backed securities		82,852		150		(840)		82,162
Corporate debt securities		40,647		74		(4,333)		36,388
Total	$	425,972	$	536	$	(33,540)	$	392,968

Schedule of amortized cost and estimated fair value of debt securities, by contractual maturity

			September 30, 2024
			Debt Securities Available-For-Sale
(Dollars in thousands)				U.S. Government		Other		Obligations
				Agency &		Mortgage		of State		Asset		Corporate
	U.S. Treasury			Sponsored Agency		Backed Debt		& Political		Backed		Debt
	Securities			Obligations1		Securities1		Subdivisions		Securities		Securities
Within 1 Year:
Amortized cost	$	—		$	—	$	2,920	$	9,478	$	—	$	—
Fair value		—			—		2,900		9,415		—		—
1 - 5 Years:
Amortized cost		7,904			6,752		1,201		9,948		—		1,244
Fair value		7,271			6,716		1,187		9,726		—		1,215
5 - 10 Years:
Amortized cost		—			4,347		1,246		28,166		3,658		34,673
Fair value		—			4,416		1,245		25,458		3,682		31,941
After 10 Years:
Amortized cost		—			148,975		43,582		47,426		73,710		5,157
Fair value		—			137,790		42,036		42,147		73,496		4,440
Total:
Amortized cost	$	7,904		$	160,074	$	48,949	$	95,018	$	77,368	$	41,074
Fair value		7,271			148,922		47,368		86,746		77,178		37,596

¹ Mortgage-backed securities are allocated for maturity reporting at their original maturity date.

Schedule of Holdings Of Securities From Issuers In Excess Of Ten Percent Of Consolidated Stockholders Equity

(Dollars in thousands)
	Fair
September 30, 2024:	Value
Issuer
Sallie Mae Bank	$	27,246
Velocity Commercial Capital		25,109
Nelnet Student Loan Trust		15,525
Navient Student Loan Trust		10,931

(Dollars in thousands)
	Fair
December 31, 2023:	Value
Issuer
Sallie Mae Bank	$	25,737
Nelnet Student Loan Trust		15,486
Navient Student Loan Trust		13,179

Schedule of amortized cost, related estimated fair value, and unrealized gains and losses for debt securities classified as Available-For-Sale

September 30, 2024

(Dollars in thousands)	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Available-for-Sale:	Value		Loss		Value		Loss		Value		Loss
U.S. Treasury securities	$	—	$	—	$	7,271	$	(633)	$	7,271	$	(633)
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		10,598		(18)		86,186		(11,336)		96,784		(11,354)
Other		—		—		2,163		(36)		2,163		(36)
Other mortgage-backed debt securities		12,556		(163)		22,271		(1,712)		34,827		(1,875)
Obligations of state and political subdivisions		1,252		(1)		82,922		(8,300)		84,174		(8,301)
Asset-backed securities		28,398		(142)		12,983		(332)		41,381		(474)
Corporate debt securities		10,357		(960)		25,453		(2,639)		35,810		(3,599)
Total	$	63,161	$	(1,284)	$	239,249	$	(24,988)	$	302,410	$	(26,272)

December 31, 2023

(Dollars in thousands)	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Available-for-Sale:	Value		Loss		Value		Loss		Value		Loss
U.S. Treasury securities	$	—	$	—	$	7,041	$	(840)	$	7,041	$	(840)
Obligations of U.S. Government Agencies and Sponsored Agencies:
Mortgage-backed		23,103		(242)		102,608		(14,276)		125,711		(14,518)
Other		—		—		3,029		(54)		3,029		(54)
Other mortgage-backed debt securities		1,568		(1)		25,042		(2,740)		26,610		(2,741)
Obligations of state and political subdivisions		—		—		82,113		(10,214)		82,113		(10,214)
Asset-backed securities		52,862		(342)		12,726		(498)		65,588		(840)
Corporate debt securities		2,813		(270)		30,501		(4,063)		33,314		(4,333)
Total	$	80,346	$	(855)	$	263,060	$	(32,685)	$	343,406	$	(33,540)

Schedule of realized gains and losses recognized in net income on equity securities

(Dollars in thousands)	Nine months ended		Nine months ended
	September 30, 2024		September 30, 2023
Net losses from market value fluctuations recognized during the period on equity securities	$	(48)	$	(311)
Less: Net gains recognized during the period on equity securities sold during the period		—		—
Net losses recognized during the reporting period on equity securities still held at the reporting date	$	(48)	$	(311)