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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity along with gross unrealized gains and losses are summarized as follows:
(dollars in thousands)
September 30, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Available for Sale:
U.S. treasury securities$1,642 $— $(12)$1,630 
U.S. agency5,405 — (487)4,918 
Asset backed securities26,919 — (747)26,172 
State, county & municipal securities126,472 — (23,182)103,290 
Corporate debt securities54,782 — (4,117)50,665 
Mortgage-backed securities282,269 15 (29,243)253,041 
Total$497,489 $15 $(57,788)$439,716 
September 30, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held to Maturity:
U.S. treasury securities$91,189 $— $(4,460)$86,729 
U.S. agency16,440 — (1,853)14,587 
State, county & municipal securities135,994 — (21,030)114,964 
Mortgage-backed securities224,683 — (29,945)194,738 
Total$468,306 $— $(57,288)$411,018 
December 31, 2021
Securities Available for Sale:
U.S. treasury securities$88,638 $— $(1,087)$87,551 
U.S. agency17,916 (140)17,781 
State, county & municipal securities252,632 877 (3,356)250,153 
Corporate debt securities48,153 520 (265)48,408 
Mortgage-backed securities539,172 2,160 (7,061)534,271 
Total$946,511 $3,562 $(11,909)$938,164 
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity This is often the case with mortgage-backed securities, which are disclosed separately in the table below.
Available for SaleHeld to Maturity
(dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due in one year or less$1,020 $1,011 $— $— 
Due after one year through five years13,612 12,701 62,300 59,996 
Due after five years through ten years88,747 77,200 87,245 77,143 
Due after ten years111,841 95,763 94,078 79,141 
$215,220 $186,675 $243,623 $216,280 
Mortgage-backed securities282,269 253,041 224,683 194,738 
$497,489 $439,716 $468,306 $411,018 
Schedule of Continuous Unrealized Loss Position Information pertaining to available-for-sale securities with gross unrealized losses at September 30, 2022 and December 31, 2021 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
September 30, 2022
U.S. treasury securities$841 $(7)$789 $(5)$1,630 $(12)
U.S. agency4,918 (487)— — 4,918 (487)
Asset backed securities14,785 (262)11,387 (485)26,172 (747)
State, county & municipal securities50,600 (9,562)52,690 (13,620)103,290 (23,182)
Corporate debt securities26,326 (2,538)15,086 (1,579)41,412 (4,117)
Mortgage-backed securities155,170 (13,980)82,264 (15,263)237,434 (29,243)
$252,640 $(26,836)$162,216 $(30,952)$414,856 $(57,788)
December 31, 2021
U.S. treasury securities$87,302 $(1,087)$— $— $87,302 $(1,087)
U.S. agency10,969 (140)— — 10,969 (140)
State, county & municipal securities180,551 (3,131)5,970 (225)186,521 (3,356)
Corporate debt securities31,977 (265)— — 31,977 (265)
Mortgage-backed securities377,413 (6,421)21,129 (640)398,542 (7,061)
$688,212 $(11,044)$27,099 $(865)$715,311 $(11,909)
Information pertaining to held-to-maturity securities with gross unrealized losses at September 30, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
September 30, 2022
U.S. Treasury$77,682 $(4,058)$9,047 $(402,000)$86,729 $(4,460)
U.S. agency6,235 (489)8,352 (1,364)14,587 (1,853)
State, county & municipal securities47,941 (7,526)67,023 (13,504)114,964 (21,030)
Mortgage-backed securities31,436 (3,299)163,302 (26,646)194,738 (29,945)
$163,294 $(15,372)$247,724 $(41,916)$411,018 $(57,288)