2021 Annual Report

Note 4: Securities The following tables present the amortized cost and estimated fair value of securities with gross unrealized gains and losses at December 31, 2021 and 2020:

December 31, 2021 Gross Gross Amortized Unrealized Unrealized

(dollars in thousands)

Cost

Gains Losses Fair Value

Securities Available for Sale: U.S. Treasury Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 754 Municipal Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151,665 7,492 (788) 158,369 Mortgage-Backed Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125,563 1,085 (2,111) 124,537 Corporate Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81,925 2,740 (185) 84,480 SBA Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,474 102 (206) 30,370 Asset-Backed Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,867 1,044 (59) 40,852 Total Securities Available for Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 430,250 $ 12,463 $ (3,351) $ 439,362 756 $ — $ (2) $

December 31, 2020 Gross Gross Amortized Unrealized Unrealized

(dollars in thousands)

Cost

Gains Losses Fair Value

Securities Available for Sale: Municipal Bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 105,975 $ 9,373 $ (336) $ 115,012 Mortgage-Backed Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123,395 2,029 (1,164) 124,260 Corporate Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71,116 1,240 (201) 72,155 SBA Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,455 32 (380) 40,107 Asset-Backed Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,135 976 (16) 39,095 Total Securities Available for Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 379,076 $ 13,650 $ (2,097) $ 390,629 The following tables present the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2021 and 2020:

Less Than 12 Months

12 Months or Greater

Total

Unrealized

Unrealized

Unrealized

(dollars in thousands)

Fair Value Losses Fair Value Losses Fair Value Losses

December 31, 2021 U.S. Treasury Securities. . . . . . . . . . . . . . . . . . . $

754 $

(2) $ — $

— $

754 $

(2)

Municipal Bonds. . . . . . . . . . . . . . . . . . . . . . . . . 44,332 (708) 3,757 (80) 48,089 (788) Mortgage-Backed Securities . . . . . . . . . . . . . . . 36,921 (630) 35,949 (1,481) 72,870 (2,111) Corporate Securities . . . . . . . . . . . . . . . . . . . . . . 9,398 (133) 1,948 (52) 11,346 (185) SBA Securities . . . . . . . . . . . . . . . . . . . . . . . . . . 3,896 (7) 16,297 (199) 20,193 (206) Asset-Backed Securities . . . . . . . . . . . . . . . . . . . 6,742 (59) — — 6,742 (59) Total Securities Available for Sale . . . . . . . . . $ 102,043 $ (1,539) $ 57,951 $ (1,812) $ 159,994 $ (3,351)

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