Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Values of Securities Available For Sale

The amortized cost and fair values of securities available for sale as of June 30, 2022 and December 31, 2021 were as follows (dollars in thousands):

June 30, 2022			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		(Losses)			Value
U.S. Government treasuries	$	162,019	$	-	$	(1,010	)	$	161,009
U.S. Government agencies		35,313		-		(4,781	)		30,532
Mortgage-backed securities/CMOs		197,121		19		(21,177	)		175,962
Corporate bonds		11,483		4		(334	)		11,154
Municipal bonds		104,027		7		(20,861	)		83,173
Total Securities Available for Sale	$	509,963	$	30	$	(48,163	)	$	461,830

December 31, 2021			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		(Losses)			Value
U.S. Government agencies	$	32,424	$	24	$	(867	)	$	31,581
Mortgage-backed securities/CMOs		172,975		248		(2,259	)		170,964
Municipal bonds		101,136		1,162		(1,026	)		101,272
Total Securities Available for Sale	$	306,535	$	1,434	$	(4,152	)	$	303,817

Schedule of Unrealized Losses in the Bank's Securities Portfolio

The following table summarizes all securities with unrealized losses, segregated by length of time in a continuous unrealized loss position at June 30, 2022, and December 31, 2021 (dollars in thousands):

	Less than 12 Months					12 Months or More					Total
June 30, 2022	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
U.S. Government treasuries	$	161,009	$	(1,010	)	$	—	$	—		$	161,009	$	(1,010	)
U.S. Government agencies		11,960		(1,207	)		18,572		(3,574	)		30,532		(4,781	)
Mortgage-backed/CMOs		133,182		(15,276	)		39,881		(5,901	)		173,063		(21,177	)
Corporate bonds		9,152		(334	)		—		—			9,152		(334	)
Municipal bonds		67,453		(16,097	)		14,277		(4,764	)		81,730		(20,861	)
	$	382,756	$	(33,924	)	$	72,730	$	(14,239	)	$	455,486	$	(48,163	)

	Less than 12 Months					12 Months or More					Total
December 31, 2021	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
U.S. Government agencies	$	14,443	$	(340	)	$	15,220	$	(527	)	$	29,663	$	(867	)
Mortgage-backed/CMOs		131,876		(1,735	)		15,192		(524	)		147,068		(2,259	)
Municipal bonds		40,352		(722	)		10,409		(304	)		50,761		(1,026	)
	$	186,671	$	(2,797	)	$	40,821	$	(1,355	)	$	227,492	$	(4,152	)

Schedule of Amortized Cost and Fair Values of Securities Available For Sale Based upon Contractual Maturities and by Major Investment Categories

The amortized cost and fair value of AFS debt securities at June 30, 2022 are presented below based upon contractual maturities, by major investment categories (dollars in thousands). Expected maturities may differ from contractual maturities because issuers have the right to call or prepay obligations.

	Amortized Cost		Fair Value
U.S. Government treasuries
One year or less	$	69,543	$	69,071
After one year to five years		92,476		91,938
	$	162,019	$	161,009
U.S. Government agencies
After one year to five years	$	649	$	584
After five years to ten years		28,664		25,088
Ten years or more		6,000		4,860
	$	35,313	$	30,532
Mortgage-backed securities/CMOs
After one year to five years	$	11,389	$	10,897
After five years to ten years		3,211		2,971
Ten years or more		182,521		162,094
	$	197,121	$	175,962
Corporate bonds
After one year to five years	$	5,848	$	5,798
After five years to ten years		5,635		5,356
	$	11,483	$	11,154
Municipal bonds
One year or less	$	502	$	502
After one year to five years		610		601
After five years to ten years		17,259		16,039
Ten years or more		85,656		66,031
	$	104,027	$	83,173
Total Debt Securities Available for Sale	$	509,963	$	461,830