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Securities (Tables)
6 Months Ended
Jun. 30, 2022
Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
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
Investments Classified by Contractual Maturity Date
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
%
Schedule of Unrealized Loss on Investments
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
Available-for-sale, Net Realized Gain
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)
Gain (Loss) on Securities
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)