Securities	6 Months Ended
Securities	Jun. 30, 2022
Securities [Abstract]
Securities	Note 3: Securities The amortized cost and approximate fair values, together with gross unrealized gains and losses, of period end available-for-sale securities consisted of the following: As of June 30, 2022, the available-for-sale securities had $ 6 million of accrued interest, excluded from the amortized cost basis. The amortized cost and fair value of available-for-sale securities at June 30, 2022, by contractual maturity, are shown below: Actual maturities may differ from contractual maturities because issuers may have the rights to call or prepay obligations with or without prepayment penalties. (2) Yields are calculated based on amortized cost. The following tables show the number of securities, unrealized loss, and fair value of the Company’s investments with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2022 and December 31, 2021: Based on the Company’s evaluation at June 30, 2022, under the new impairment model, an allowance for credit losses has no t been recorded no r have unrealized losses been recognized into income. The issuers of the securities are of high credit quality and have a long history of no credit losses; management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery; and the decline in fair value is largely attributed to changes in interest rates and other market conditions. The issuers continue to make timely principal and interest payments. The following tables show the gross gains and losses on securities that matured or were sold: Equity Securities Equity securities consist of a $ 2 million investment in a Community Reinvestment Act (“CRA”) mutual fund and $ 1 million in three private equity funds. Equity securities are included in “other assets” on the Consolidated Balance Sheets. The Company elected a measurement alternative for the three private equity funds that allows the securities to remain at cost until an impairment is identified or an observable price change for an identical or similar investment of the same issuer occurs. Impairment is recorded when there is evidence that the expected fair value of the investment has declined to below the recorded cost. No such events occurred during the three or six-month periods ended June 30, 2022. The following is a summary of the unrealized and realized gains and losses recognized in net income on equity securities: June 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Approximate Fair Value (Dollars in thousands) Available-for-sale securities Mortgage-backed - GSE residential $ 179,119 $ 2 $ 18,352 $ 160,769 Collateralized mortgage obligations - GSE residential 13,611 - 400 13,211 State and political subdivisions 566,726 2,199 52,236 516,689 Corporate bonds 5,118 32 172 4,978 Total available-for-sale securities $ 764,574 $ 2,233 $ 71,160 $ 695,647 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 June 30, 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 $ - $ 24 $ 117 $ 178,978 $ 179,119 Estimated fair value $ - $ 24 $ 117 $ 160,628 $ 160,769 Weighted average yield (2) - % 4.71 % 4.03 % 2.00 % 2.00 % Collateralized mortgage obligations - GSE residential (1) Amortized cost $ - $ - $ 2,386 $ 11,225 $ 13,611 Estimated fair value $ - $ - $ 2,338 $ 10,873 $ 13,211 Weighted average yield (2) - % - % 2.77 % 2.19 % 2.29 % State and political subdivisions Amortized cost $ 796 $ 4,746 $ 98,444 $ 462,740 $ 566,726 Estimated fair value $ 805 $ 4,871 $ 99,175 $ 411,838 $ 516,689 Weighted average yield (2) 3.44 % 3.89 % 3.31 % 2.72 % 2.83 % Corporate bonds Amortized cost $ - $ 499 $ 4,619 $ - $ 5,118 Estimated fair value $ - $ 524 $ 4,454 $ - $ 4,978 Weighted average yield (2) - % 6.63 % 4.29 % - % 4.52 % Total available-for-sale securities Amortized cost $ 796 $ 5,269 $ 105,566 $ 652,943 $ 764,574 Estimated fair value $ 805 $ 5,419 $ 106,084 $ 583,339 $ 695,647 Weighted average yield (2) 3.44 % 4.15 % 3.34 % 2.51 % 2.64 % June 30, 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 $ 124,609 $ 11,678 45 $ 34,332 $ 6,674 7 $ 158,941 $ 18,352 52 Collateralized mortgage obligations - GSE residential 12,809 386 18 403 14 1 13,212 400 19 State and political subdivisions 370,681 50,096 264 7,775 2,140 9 378,456 52,236 273 Corporate bonds 4,696 172 4 - - - 4,696 172 4 Total temporarily impaired securities $ 512,795 $ 62,332 331 $ 42,510 $ 8,828 17 $ 555,305 $ 71,160 348 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 5 4 74,225 767 43 Corporate bonds - - - - - - - - - Total temporarily impaired securities $ 161,024 $ 2,546 57 $ 1,310 $ 5 4 $ 162,334 $ 2,551 61 For the Three Months Ended For the Six Months Ended June 30, 2022 June 30, 2022 Gross Realized Gains Gross Realized Losses Net Realized Loss Gross Realized Gains Gross Realized Losses Net Realized Loss (Dollars in thousands) Available-for-sale securities $ 2 $ (14) $ (12) $ 3 $ (41) $ (38) For the Three Months Ended For the Six Months Ended June 30, 2021 June 30, 2021 Gross Realized Gains Gross Realized Losses Net Realized Loss Gross Realized Gains Gross Realized Losses Net Realized Loss (Dollars in thousands) Available-for-sale securities $ 5 $ (18) $ (13) $ 26 $ (29) $ (3) Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (Dollars in thousands) Net gains (losses) recognized during the reporting period on equity securities $ (71) $ 6 $ (174) $ (33) Less: net gains recognized during the reporting period on equity securities sold during the reporting period - - - - Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date $ (71) $ 6 $ (174) $ (33)