Securities (Tables)

3 Months Ended

Mar. 31, 2022

Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

March 31, 2022

Amortized

Cost

Gross

Unrealized

Gains

Gross

Unrealized

Losses

Approximate

Fair Value

(Dollars in thousands)

Available-for-sale securities

Mortgage-backed - GSE residential

$

179,842

$

105

$

11,113

$

168,834

Collateralized mortgage obligations - GSE residential

15,557

16

251

15,322

State and political subdivisions

552,069

6,820

25,437

533,452

Corporate bonds

5,223

46

99

5,170

Total available-for-sale securities

$

752,691

$

6,987

$

36,900

$

722,778

December 31, 2021

Amortized

Cost

Gross

Unrealized

Gains

Gross

Unrealized

Losses

Approximate

Fair Value

(Dollars in thousands)

Available-for-sale securities

Mortgage-backed - GSE residential

$

161,675

$

1,809

$

1,774

$

161,710

Collateralized mortgage obligations - GSE residential

18,130

311

10

18,431

State and political subdivisions

532,906

29,329

767

561,468

Corporate bonds

4,241

119

-

4,360

Total available-for-sale securities

$

716,952

$

31,568

$

2,551

$

745,969

Investments Classified by Contractual Maturity Date

March 31, 2022

Within

After One to

After Five to

After

One Year

Five Years

Ten Years

Ten Years

Total

(Dollars in thousands)

Available-for-sale securities

Mortgage-backed - GSE residential

(1)

Amortized cost

$

-

$

30

$

117

$

179,695

$

179,842

Estimated fair value

$

-

$

31

$

118

$

168,685

$

168,834

Weighted average yield

(2)

-

%

4.71

%

3.97

%

1.90

%

1.90

%

Collateralized mortgage obligations -

GSE residential

(1)

Amortized cost

$

-

$

-

$

2,405

$

13,152

$

15,557

Estimated fair value

$

-

$

-

$

2,420

$

12,902

$

15,322

Weighted average yield

(2)

-

%

-

%

2.78

%

2.01

%

2.13

%

State and political subdivisions

Amortized cost

$

741

$

5,186

$

92,361

$

453,781

$

552,069

Estimated fair value

$

747

$

5,334

$

94,719

$

432,652

$

533,452

Weighted average yield

(2)

3.49

%

3.95

%

3.29

%

2.67

%

2.79

%

Corporate bonds

Amortized cost

$

-

$

604

$

4,619

$

-

$

5,223

Estimated fair value

$

-

$

644

$

4,526

$

-

$

5,170

Weighted average yield

(2)

-

%

5.84

%

4.30

%

-

%

4.48

%

Total available-for-sale securities

Amortized cost

$

741

$

5,820

$

99,502

$

646,628

$

752,691

Estimated fair value

$

747

$

6,009

$

101,783

$

614,239

$

722,778

Weighted average yield

(2)

3.49

%

4.15

%

3.32

%

2.44

%

2.57

%

Schedule of Unrealized Loss on Investments

March 31, 2022

Less than 12 Months

12 Months or More

Total

Fair Value

Unrealized

Losses

Number of

Securities

Fair Value

Unrealized

Losses

Number of

Securities

Fair Value

Unrealized

Losses

Number of

Securities

(Dollars in thousands)

Available-for-sale

securities

Mortgage-backed -

GSE residential

$

124,358

$

6,835

30

$

36,252

$

4,278

6

$

160,610

$

11,113

36

Collateralized

mortgage obligations

- GSE residential

12,339

237

17

560

14

1

12,899

251

18

State and political

subdivisions

232,842

24,747

149

5,900

690

8

238,742

25,437

157

Corporate bonds

4,745

99

3

-

-

-

4,745

99

3

Total temporarily

impaired securities

$

374,284

$

31,918

199

$

42,712

$

4,982

15

$

416,996

$

36,900

214

December 31, 2021

Less than 12 Months

12 Months or More

Total

Fair Value

Unrealized

Losses

Number of

Securities

Fair Value

Unrealized

Losses

Number of

Securities

Fair Value

Unrealized

Losses

Number of

Securities

(Dollars in thousands)

Available-for-sale

securities

Mortgage-backed -

GSE residential

$

87,306

$

1,774

16

$

-

$

-

-

$

87,306

$

1,774

16

Collateralized

mortgage obligations

- GSE residential

803

10

2

-

-

-

803

10

2

State and political

subdivisions

72,915

762

39

1,310

-

4

74,225

762

43

Corporate bonds

-

-

-

-

-

-

-

-

-

Total temporarily

impaired securities

$

161,024

$

2,546

57

$

1,310

$

-

4

$

162,334

$

2,546

61

Available-for-sale, Net Realized Gain

For the Three Months Ended

March 31, 2022

Gross Realized

Gains

Gross Realized

Losses

Net Realized Loss

(Dollars in thousands)

Available-for-sale securities

$

1

$

27

$

(26)

For the Three Months Ended

March 31, 2021

Gross Realized

Gains

Gross Realized

Losses

Net Realized Gain

(Dollars in thousands)

Available-for-sale securities

$

21

$

11

$

10

Gain (Loss) on Securities

Three Months Ended

March 31, 

2022

2021

(Dollars in thousands)

Net losses recognized during the reporting period on equity securities

$

(103)

$

(39)

Less: net gains recognized during the reporting period on equity securities sold during

the reporting period

-

-

Unrealized losses recognized during the reporting period on equity securities still held at

the reporting date

$

(103)

$

(39)