Investment securities (Tables)

12 Months Ended

Dec. 31, 2023

Investment securities

Schedule of amortized cost and fair value of investment securities aggregated by investment category

	December 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Available for sale:
U.S. Treasury securities	$	197,920	$		$	13,863	$	184,057
U.S. government-sponsored enterprises		2,539				387		2,152
State and municipals:
Taxable		67,831				10,731		57,100
Tax-exempt		75,742				8,618		67,124
Residential mortgage-backed securities:
U.S. government agencies		758				34		724
U.S. government-sponsored enterprises		89,935				17,264		72,671
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises		11,729				360		11,369
Corporate debt securities		4,000				270		3,730
Total	$	450,454	$		$	51,527	$	398,927
Held to maturity:
Tax-exempt state and municipals	$	11,201	$	1	$	660	$	10,542
Residential mortgage-backed securities:
U.S. government agencies		15,400				2,653		12,747
U.S. government-sponsored enterprises		58,250				9,841		48,409
Total	$	84,851	$	1	$	13,154	$	71,698

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
Available for sale:
U.S. Treasury securities	$	199,937	$		$	19,640	$	180,297
U.S. government-sponsored enterprises		16,955				585		16,370
State and municipals:
Taxable		68,946				13,588		55,358
Tax-exempt		99,774		93		11,460		88,407
Residential mortgage-backed securities:
U.S. government agencies		982				40		942
U.S. government-sponsored enterprises		141,231				20,112		121,119
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises		12,128				544		11,584
Corporate debt securities		4,000				374		3,626
Total	$	543,953	$	93	$	66,343	$	477,703
Held to maturity:
Tax-exempt state and municipals	$	11,237	$	1	$	841	$	10,397
Residential mortgage-backed securities:
U.S. government agencies		17,304				3,016		14,288
U.S. government-sponsored enterprises		62,638				10,760		51,878
Total	$	91,179	$	1	$	14,617	$	76,563

Summary of unrealized and realized gains and losses

(Dollars in thousands)		2023		2022		2021
Net (loss) gain recognized during the period on equity securities	$	(11)	$	(31)	$	2
Unrealized (loss) gain recognized during the reporting period on equity securities still held at the reporting date	$	(11)	$	(31)	$	2

Schedule of maturity distribution

(Dollars in thousands)		2023		2022		2021
Net (loss) gain recognized during the period on equity securities	$	(11)	$	(31)	$	2
Unrealized (loss) gain recognized during the reporting period on equity securities still held at the reporting date	$	(11)	$	(31)	$	2

The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available for sale at December 31, 2023, is summarized as follows:

	Amortized		Fair
(Dollars in thousands)	Cost		Value
Within one year	$	22,594	$	21,898
After one but within five years		192,724		178,449
After five but within ten years		53,280		46,627
After ten years		76,895		65,037
		345,493		312,011
Mortgage-backed and other amortizing securities		104,961		86,916
Total	$	450,454	$	398,927

The maturity distribution of the amortized cost and fair value, of debt securities classified as held to maturity at December 31, 2023, is summarized as follows:

	Amortized		Fair
(Dollars in thousands)	Cost		Value
After one but within five years	$	569	$	528
After five but within ten years		10,632		10,014
		11,201		10,542
Mortgage-backed securities		73,650		61,156
Total	$	84,851	$	71,698

Schedule of fair value and unrealized losses of investment securities in continuous unrealized loss position

	December 31, 2023
	Less than Twelve Months					Twelve Months or Longer					Total
	Total # in a loss				Unrealized	Total # in a loss				Unrealized	Total # in a loss				Unrealized
(Dollars in thousands)	Position		Fair Value		Losses	Position		Fair Value		Losses	Position		Fair Value		Losses
Securities Held to Maturity
State and municipals:
Tax-exempt	2	$	1,438	$	36	10	$	6,209	$	624	12	$	7,647	$	660
Residential mortgage-backed securities:
U.S. government agencies						4		12,747		2,653	4		12,747		2,653
U.S. government-sponsored enterprises						8		48,409		9,841	8		48,409		9,841
Total	2	$	1,438	$	36	22	$	67,365	$	13,118	24	$	68,803	$	13,154
Securities Available for Sale
U.S. Treasury securities						43	$	184,057	$	13,863	43	$	184,057	$	13,863
U.S. government-sponsored enterprises						2		2,152		387	2		2,152		387
State and municipals:
Taxable	1	$	995	$	6	65		56,105		10,725	66		57,100		10,731
Tax-exempt	2		575		5	93		66,393		8,613	95		66,968		8,618
Residential mortgage-backed securities:
U.S. government agencies						3		724		34	3		724		34
U.S. government-sponsored enterprises						32		72,671		17,264	32		72,671		17,264
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises						4		11,369		360	4		11,369		360
Corporate debt securities						6		3,730		270	6		3,730		270
Total	3	$	1,570	$	11	248	$	397,201	$	51,516	251	$	398,771	$	51,527

	December 31, 2022
	Less than Twelve Months					Twelve Months or Longer					Total
	Total # in a loss				Unrealized	Total # in a loss				Unrealized	Total # in a loss				Unrealized
(Dollars in thousands)	Position		Fair Value		Losses	Position		Fair Value		Losses	Position		Fair Value		Losses
Securities Held to Maturity
State and municipals:
Tax-exempt	3	$	3,150	$	29	10	$	2,906	$	783	13	$	6,056	$	812
Residential mortgage-backed securities:
U.S. government agencies	2		5			3		14,283		3,016	5		14,288		3,016
U.S. government-sponsored enterprises	1		12			8		51,866		10,760	9		51,878		10,760
Total	6	$	3,167	$	29	21	$	69,055	$	14,559	27	$	72,222	$	14,588
Securities Available for Sale
U.S. Treasury securities	5	$	23,700	$	1,887	40	$	156,597	$	17,753	45	$	180,297	$	19,640
U.S. government-sponsored enterprises	4		14,104		197	1		2,266		388	5		16,370		585
State and municipals:
Taxable	21		19,919		2,908	45		34,464		10,680	66		54,383		13,588
Tax-exempt	36		27,823		1,661	74		56,758		9,828	110		84,581		11,489
Residential mortgage-backed securities:
U.S. government agencies	3		899		39	1		43		1	4		942		40
U.S. government-sponsored enterprises	18		57,154		2,029	17		63,965		18,083	35		121,119		20,112
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises	4		11,584		544						4		11,584		544
Corporate debt securites	1		953		47	5		2,673		327	6		3,626		374
Total	92		156,136		9,312	183		316,766		57,060	275		472,902		66,372