Investment Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investment Securities [Abstract]

Amortized Cost and Fair Value of Securities Available For Sale

The amortized cost and fair value of the securities available for sale are as follows:

	June 30, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
U.S. government sponsored enterprises	$	119,175		-		5,605		113,570
State and political subdivisions		34		-		-		34
Mortgage backed securities and collateralized mortgage obligations - residential		273,955		13		30,524		243,444
Corporate bonds		80,394		-		3,776		76,618
Small Business Administration - guaranteed participation securities		20,444		-		2,062		18,382
Other		686		-		30		656
Total Securities Available for Sale	$	494,688		13		41,997		452,704

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
U.S. government sponsored enterprises	$	124,123		1		5,937		118,187
State and political subdivisions		34		-		-		34
Mortgage backed securities and collateralized mortgage obligations - residential		291,431		34		31,149		260,316
Corporate bonds		85,641		-		4,295		81,346
Small Business Administration - guaranteed participation securities		23,115		-		2,138		20,977
Other		686		-		33		653
Total Securities Available for Sale	$	525,030		35		43,552		481,513

Securities, Available-for-sale and Held-to-maturity [Abstract]

Proceeds from Sales and Calls of Securities Available For Sale, Gross Realized Gains and Gross Realized Losses

The proceeds from sales and calls and maturities of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2023 and 2022 are as follows:

	Three months ended June 30,
(dollars in thousands)	2023		2022
Proceeds from sales	$	-		-
Proceeds from calls/paydowns		14,811		25,415
Proceeds from maturities		5,000		5,050
Gross realized gains		-		-
Gross realized losses		-		-

	Six months ended June 30,
(dollars in thousands)	2023		2022
Proceeds from sales	$	-		-
Proceeds from calls/paydowns		29,469		43,338
Proceeds from maturities		5,000		10,050
Gross realized gains		-		-
Gross realized losses		-		-

Amortized Cost and Fair Value of Held to Maturity Securities

The amortized cost and fair value of the held to maturity securities are as follows:

	June 30, 2023
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	7,043		57		174		6,926
Total held to maturity	$	7,043		57		174		6,926

	December 31, 2022
			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	7,707		90		217		7,580
Total held to maturity	$	7,707		90		217		7,580

Securities Available for Sale [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table categorizes the debt securities included in the available for sale portfolio as of June 30, 2023, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

	Amortized		Fair
(dollars in thousands)	Cost		Value
Due in one year or less	$	55,284		53,461
Due after one year through five years		145,005		137,417
Mortgage backed securities and collateralized mortgage obligations - residential		273,955		243,444
Small Business Administration - guaranteed participation securities		20,444		18,382
	$	494,688		452,704

Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position

Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

	June 30, 2023
	Less than				12 months
	12 months				or more				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unreal.
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
U.S. government sponsored enterprises	$	52,728	$	1,459	$	60,841	$	4,146	$	113,569	$	5,605
Mortgage backed securities and collateralized mortgage obligations - residential		40,282		2,477		200,666		28,047		240,948		30,524
Corporate bonds		9,721		293		66,897		3,483		76,618		3,776
Small Business Administration - guaranteed participation securities		-		-		18,382		2,062		18,382		2,062
Other		-		-		619		30		619		30
Total	$	102,731	$	4,229	$	347,405	$	37,768	$	450,136	$	41,997

	December 31, 2022
	Less than				12 months
	12 months				or more				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unreal.
(dollars in thousands)	Value		Loss		Value		Loss		Value		Loss
U.S. government sponsored enterprises	$	57,849		1,290		55,337		4,647		113,186		5,937
Mortgage backed securities and collateralized mortgage obligations - residential		164,772		13,010		93,009		18,139		257,781		31,149
Corporate bonds		52,805		2,395		28,542		1,900		81,347		4,295
Small Business Administration - guaranteed participation securities		802		71		20,175		2,067		20,977		2,138
Other		49		1		568		32		617		33
Total	$	276,277	$	16,767	$	197,631	$	26,785	$	473,908	$	43,552

Held to Maturity Securities [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table categorizes the debt securities included in the held to maturity portfolio as of June 30, 2023, based on the securities’ final maturity.   Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty.  Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized		Fair
	Cost		Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	7,043		6,926
	$	7,043		6,926

Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position

Gross unrecognized losses on held to maturity securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

June 30, 2023

Less than

12 months

(dollars in thousands)

12 months

or more

Total

Gross

Gross

Gross

Fair

Unrec.

Fair

Unrec.

Fair

Unrec.

Value

Loss

Value

Loss

Value

Loss

Mortgage backed securities and collateralized mortgage obligations - residential

$

349

8

2,900

166

3,249

174

Total

$

349

8

2,900

166

3,249

174

December 31, 2022

Less than

12 months

(dollars in thousands)

12 months

or more

Total

Gross

Gross

Gross

Fair

Unrec.

Fair

Unrec.

Fair

Unrec.

Value

Loss

Value

Loss

Value

Loss

Mortgage backed securities and collateralized mortgage obligations - residential

$

3,327

206

258

11

3,585

217

Total

$

3,327

206

258

11

3,585

217