Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Available-for-sale and Held-to-maturity Securities

The amortized cost and fair value of securities available-for-sale and held-to-maturity at June 30, 2022 and December 31, 2021 are summarized as follows (in thousands):

	June 30, 2022									December 31, 2021
	Amortized Cost		Gross unrealized gains		Gross unrealized (losses)			Estimated fair value		Amortized Cost		Gross unrealized gains		Gross unrealized (losses)			Estimated fair value
Securities available-for-sale:
U. S. government agency securities	$	15,870	$	—	$	(1,067	)	$	14,803	$	11,550	$	47	$	(94	)	$	11,503
State and municipal securities		77,674		173		(8,135	)		69,712		81,158		2,107		(705	)		82,560
Mortgage-backed securities		319,814		1		(39,599	)		280,216		300,398		2,008		(8,799	)		293,607
Asset-backed securities		3,328		—		(76	)		3,252		3,326		13		—			3,339
Other debt securities		70,844		222		(1,629	)		69,437		67,104		1,514		(231	)		68,387
Total	$	487,530	$	396	$	(50,506	)	$	437,420	$	463,536	$	5,689	$	(9,829	)	$	459,396
Securities held-to-maturity:
State and municipal securities	$	1,769	$	6	$	—		$	1,775	$	1,782	$	48	$	—		$	1,830
Total	$	1,769	$	6	$	—		$	1,775	$	1,782	$	48	$	—		$	1,830

Summary of Securities with Unrealized Losses and Length of Time Continuous Loss Positions

Securities with unrealized losses as of June 30, 2022 and December 31, 2021, and the length of time they were in continuous loss positions as of such dates are as follows (in thousands):

	Less than 12 months					12 months or more					Total
June 30, 2022	Estimated fair value		Gross unrealized losses			Estimated fair value		Gross unrealized losses			Estimated fair value		Gross unrealized losses
U. S. government agency securities	$	12,352	$	(786	)	$	2,451	$	(281	)	$	14,803	$	(1,067	)
State and municipal securities		41,541		(5,524	)		12,055		(2,611	)		53,596		(8,135	)
Mortgage-backed securities		133,362		(11,345	)		145,912		(28,254	)		279,274		(39,599	)
Asset-backed securities		3,252		(76	)		—		—			3,252		(76	)
Other debt securities		48,292		(1,305	)		8,988		(324	)		57,280		(1,629	)
Total temporarily impaired securities	$	238,799	$	(19,036	)	$	169,406	$	(31,470	)	$	408,205	$	(50,506	)
December 31, 2021
U. S. government agency securities	$	2,560	$	(20	)	$	2,737	$	(74	)	$	5,297	$	(94	)
State and municipal securities		15,309		(279	)		12,768		(426	)		28,077		(705	)
Mortgage-backed securities		155,805		(5,291	)		75,934		(3,508	)		231,739		(8,799	)
Asset-backed securities		—		—			—					—		—
Other debt securities		30,375		(231	)		—		—			30,375		(231	)
Total temporarily impaired securities	$	204,049	$	(5,821	)	$	91,439	$	(4,008	)	$	295,488	$	(9,829	)

Summary of Sales, Maturities, Prepayments and Calls of Securities

Results from sales, maturities, prepayments and calls of securities available for sale were as follows (in thousands):

	Six Months Ended		Six Months Ended
	June 30, 2022		June 30, 2021
Proceeds	$	41,525	$	47,147
Gross gains		—		31
Gross losses		—		(18	)

Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The amortized cost and fair value of securities at June 30, 2022, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

	Available-for-sale				Held-to-maturity
	Amortized cost		Estimated fair value		Amortized cost		Estimated fair value
Due in less than one year	$	6,076	$	6,069	$	1,769	$	1,775
Due one to five years		42,128		41,698		—		—
Due five to ten years		95,654		89,144		—		—
Due beyond ten years		20,530		17,041		—		—
Mortgage-backed securities		319,814		280,216		—		—
Asset-backed securities		3,328		3,252		—		—
Total	$	487,530	$	437,420	$	1,769	$	1,775