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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of HTM Securities and AFS Securities by Contractual Maturities
The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at September 30, 2024 and December 31, 2023, by contractual maturity within each type:
 At September 30, 2024
(Dollars in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Securities Held-to-Maturity
Residential mortgage-backed securities:
After 1 year to 5 years$1,283 $ $(26)$ $1,257 
After 5 years to 10 years10,762  (262) 10,500 
Over 10 years125,636 12 (14,302) 111,346 
137,681 12 (14,590) 123,103 
Total$137,681 $12 $(14,590)$ $123,103 
Securities Available-for-Sale
State and political subdivisions:
Within 1 year$1,299 $ $(12)$ $1,287 
1,299  (12) 1,287 
Residential mortgage-backed securities:
After 1 year to 5 years373  (8) 365 
After 5 years to 10 years11,870  (608) 11,262 
Over 10 years297,067 757 (28,652) 269,172 
309,310 757 (29,268) 280,799 
Collateralized mortgage obligations:
After 5 years to 10 years175  (5) 170 
Over 10 years1,735  (117) 1,618 
1,910  (122) 1,788 
Corporate bonds:
Within 1 year6,400 8 (71)(6)6,331 
After 1 year to 5 years10,423 49 (305)(23)10,144 
After 5 years to 10 years60,000  (5,636)(613)53,751 
76,823 57 (6,012)(642)70,226 
Total$389,342 $814 $(35,414)$(642)$354,100 
 At December 31, 2023
(Dollars in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Securities Held-to-Maturity
Residential mortgage-backed securities:
After 1 year to 5 years$1,871 $— $(62)$— $1,809 
After 5 years to 10 years12,047 — (462)— 11,585 
Over 10 years131,859 — (16,976)— 114,883 
145,777 — (17,500)— 128,277 
Total$145,777 $— $(17,500)$— $128,277 
Securities Available-for-Sale
State and political subdivisions:
Within 1 year$1,030 $— $(1)$— $1,029 
After 1 year to 5 years1,298 — (26)— 1,272 
2,328 — (27)— 2,301 
Residential mortgage-backed securities:
After 1 year to 5 years567 — (20)— 547 
After 5 years to 10 years13,653 — (964)— 12,689 
Over 10 years285,628 131 (34,443)— 251,316 
299,848 131 (35,427)— 264,552 
Collateralized mortgage obligations:
After 5 years to 10 years241 — (11)— 230 
Over 10 years1,960 — (189)— 1,771 
2,201 — (200)— 2,001 
Corporate bonds:
Within 1 year18,011 (176)(27)17,809 
After 1 year to 5 years13,339 23 (671)(43)12,648 
After 5 years to 10 years60,000 — (7,097)(661)52,242 
91,350 24 (7,944)(731)82,699 
Total$395,727 $155 $(43,598)$(731)$351,553 
Information Related to Sales of Securities Available-for-Sale
The following table presents information related to sales of securities available-for-sale during the nine months ended September 30, 2024 or 2023.
 Nine Months Ended September 30,
(Dollars in thousands)20242023
Securities available-for-sale:
Proceeds from sales$505 $— 
Gross realized gains on sales18 — 
Tax expense related to net realized gains on sales4 — 
Amount of Securities in Unrealized Loss Position With No Allowance For Credit Losses
The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at September 30, 2024 and December 31, 2023, by the length of time those securities were in a continuous loss position.
 Less than
Twelve Months
Twelve Months
or Longer
Total
(Dollars in thousands)Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
At September 30, 2024
Securities Held-to-Maturity
Residential mortgage-backed securities$ $ $120,463 $(14,590)$120,463 $(14,590)
Total$ $ $120,463 $(14,590)$120,463 $(14,590)
Securities Available-for-Sale
Residential mortgage-backed securities$ $ $220,491 $(29,268)$220,491 $(29,268)
Collateralized mortgage obligations  1,788 (122)1,788 (122)
Total$ $ $222,279 $(29,390)$222,279 $(29,390)
At December 31, 2023
Securities Held-to-Maturity
Residential mortgage-backed securities$6,005 $(94)$122,272 $(17,406)$128,277 $(17,500)
Total$6,005 $(94)$122,272 $(17,406)$128,277 $(17,500)
Securities Available-for-Sale
State and political subdivisions$1,029 $(1)$— $— $1,029 $(1)
Residential mortgage-backed securities16,992 (65)238,053 (35,362)255,045 (35,427)
Collateralized mortgage obligations— — 2,001 (200)2,001 (200)
Corporate bonds780 (1)— — 780 (1)
Total$18,801 $(67)$240,054 $(35,562)$258,855 $(35,629)
Available-for-sale Securities, Allowance for Credit Loss Rollforward
The table below presents a rollforward by major security type for the nine months ended September 30, 2024 and September 30, 2023 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)Corporate Bonds
Nine months ended September 30, 2024
Securities Available-for-Sale
Beginning balance$(731)
Change in securities for which a previous expected credit loss was recognized89 
Ending balance$(642)
Nine months ended September 30, 2023
Securities Available-for-Sale
Beginning balance$(1,140)
Additions for securities for which no previous expected credit losses were recognized(2)
Change in securities for which a previous expected credit loss was recognized(395)
Ending balance$(1,537)
Gain (Loss) on Equity Securities
The following is a summary of unrealized and realized gains and losses on equity securities recognized in other noninterest income in the condensed consolidated statements of income during the nine months ended September 30, 2024 or 2023.
 Nine Months Ended September 30,
(Dollars in thousands)20242023
Equity Securities:
Net gains (losses) recognized during the period68 (118)
Less: Net losses recognized during the period on equity securities sold during the period(68)— 
Unrealized (losses) recognized during the reporting period on equity securities still held at the reporting date (118)