Annual report [Section 13 and 15(d), not S-K Item 405]

Note 2 - Securities (Tables)

v3.25.1
Note 2 - Securities (Tables)
12 Months Ended
Dec. 31, 2024
Notes Tables  
Debt Securities, Available-for-Sale [Table Text Block]
   

(Dollars in thousands)

 
           

Gross

   

Gross

   

Estimated

 
   

Cost

   

Unrealized

   

Unrealized

   

Fair

 
   

Basis

   

Gains

   

Losses

   

Value

 

December 31, 2024

                               

US government sponsored entities

  $ 8,884     $ -     $ (823 )   $ 8,061  

Collateralized mortgage obligations and residential mortgage-backed securities

    135,974       -       (26,649 )     109,325  

Municipal securities

    262,954       -       (48,205 )     214,749  

Collateralized debt obligations

    2,156       -       (737 )     1,419  

Total securities available-for-sale

  $ 409,968     $ -     $ (76,414 )   $ 333,554  
   

(Dollars in thousands)

 
           

Gross

   

Gross

   

Estimated

 
   

Cost

   

Unrealized

   

Unrealized

   

Fair

 
   

Basis

   

Gains

   

Losses

   

Value

 

December 31, 2023

                               

US government sponsored entities

  $ 8,884     $ -     $ (1,001 )   $ 7,883  

Collateralized mortgage obligations and residential mortgage-backed securities

    149,410       -       (25,946 )     123,464  

Municipal securities

    278,813       60       (40,203 )     238,670  

Collateralized debt obligations

    2,170       -       (813 )     1,357  

Total securities available-for-sale

  $ 439,277     $ 60     $ (67,963 )   $ 371,374  
Investments Classified by Contractual Maturity Date [Table Text Block]
   

(Dollars in thousands)

 
   

Available-for-sale

 
           

Estimated

 
   

Cost

   

Fair

 

December 31, 2024

 

Basis

   

Value

 

Due in one year or less

  $ -     $ -  

Due from one to five years

    11,953       10,801  

Due from five to ten years

    32,560       28,835  

Due over ten years

    229,481       184,593  

Collateralized mortgage obligations and residential mortgage-backed securities

    135,974       109,325  

Total

  $ 409,968     $ 333,554  
Schedule of Realized Gain (Loss) [Table Text Block]
   

(Dollars in thousands)

 
   

December 31,

   

December 31,

 
   

2024

   

2023

 
                 

Proceeds

  $ 14,697     $ 476  

Gross gains

    -       -  

Gross losses

    (531 )     (48 )
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
   

(Dollars in thousands)

 
   

Unrealized
loss

 

Ending balance, December 31, 2023

  $ (51,613 )

Current period change

    (6,471 )

Ending balance, December 31, 2024

  $ (58,084 )
   

(Dollars in thousands)

 
   

Unrealized
gain (loss)

 

Ending balance, December 31, 2022

  $ (64,300 )

Period change

    12,687  

Ending balance, December 31, 2023

  $ (51,613 )
Unrealized Gain (Loss) on Investments [Table Text Block]
   

(Dollars in thousands)

         
   

Less than 12 months

   

12 months or longer

   

Total

         
   

Estimated

           

Estimated

           

Estimated

           

Percentage of

 
   

Fair

   

Unrealized

   

Fair

   

Unrealized

   

Fair

   

Unrealized

   

Total Portfolio

 
   

Value

   

Losses

   

Value

   

Losses

   

Value

   

Losses

   

in Loss Position

 

December 31, 2024

                                                       

US government sponsored entities

  $ -     $ -     $ 8,061     $ (823 )   $ 8,061     $ (823 )     100.0 %

Collateralized mortgage obligations and residential mortgage-backed securities

    -       -       109,325       (26,649 )     109,325       (26,649 )     100.0  

Municipal securities

    3,310       (156 )     211,439       (48,049 )     214,749       (48,205 )     100.0  

Collateralized debt obligations

    -       -       1,419       (737 )     1,419       (737 )     100.0  

Total securities balance

  $ 3,310     $ (156 )   $ 330,244     $ (76,258 )   $ 333,554     $ (76,414 )     100.0 %

Number of securities

            4               409               413          
   

(Dollars in thousands)

         
   

Less than 12 months

   

12 months or longer

   

Total

         
   

Estimated

           

Estimated

           

Estimated

           

Percentage of

 
   

Fair

   

Unrealized

   

Fair

   

Unrealized

   

Fair

   

Unrealized

   

Total Portfolio

 
   

Value

   

Losses

   

Value

   

Losses

   

Value

   

Losses

   

in Loss Position

 

December 31, 2023

                                                       

US government sponsored entities

  $ -     $ -     $ 7,883     $ (1,001 )   $ 7,883     $ (1,001 )     100.0 %

Collateralized mortgage obligations and residential mortgage-backed securities

    -       -       123,464       (25,946 )     123,464       (25,946 )     100.0  

Municipal securities

    -       -       229,595       (40,203 )     229,595       (40,203 )     96.2  

Collateralized debt obligations

    -       -       1,357       (813 )     1,357       (813 )     100.0  

Total securities balance

  $ -     $ -     $ 362,299     $ (67,963 )   $ 362,299     $ (67,963 )     97.6 %

Number of securities

            -               434               434