SECURITIES (Tables)

9 Months Ended

Sep. 30, 2022

SECURITIES

Debt Securities Available for Sale

The amortized cost and fair value of debt securities available for sale as of September 30, 2022 and December 31, 2021, by contractual maturity, are shown in the tables below. Expected maturities may differ from contractual maturities because the securities may be called or prepaid with or without prepayment penalties.

(Dollars in thousands)	September 30, 2022
					Gross		Gross
	Amortized		Fair		Unrealized		Unrealized
Debt Securities Available for Sale	Cost		Value		Gains		Losses
Type and Maturity
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	20,450	$	18,118	$	—	$	(2,332)
After five years but within ten years		28,928		23,832		—		(5,096)
		49,378		41,950		—		(7,428)
Obligations of state and political subdivisions
After one year but within five years		3,474		3,394				(80)
After five years but within ten years		3,877		3,116		—		(761)
After ten years		1,501		1,171		—		(330)
		8,852		7,681		—		(1,171)
Corporate debt securities
After one year but within five years		4,688		4,227		—		(461)
After five years but within ten years		13,000		11,349		—		(1,651)
		17,688		15,576		—		(2,112)
Mortgage-backed securities		266,030		222,044		—		(43,986)
Total	$	341,948	$	287,251	$	—	$	(54,697)

(Dollars in thousands)	December 31, 2021
					Gross		Gross
	Amortized		Fair		Unrealized		Unrealized
Debt Securities Available for Sale	Cost		Value		Gains		Losses
Type and Maturity
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	6,000	$	5,807	$	—	$	(193)
After five years but within ten years		35,881		34,719		—		(1,162)
		41,881		40,526		—		(1,355)
Obligations of state and political subdivisions
After one year but within five years		3,810		3,937		129		(2)
After five years but within ten years		1,246		1,221		—		(25)
After ten years		4,118		4,062		—		(56)
		9,174		9,220		129		(83)
Corporate debt securities
After one year but within five years		2,000		1,972		—		(28)
After five years but within ten years		32,408		33,024		805		(189)
		34,408		34,996		805		(217)
Mortgage-backed securities		254,762		250,682		812		(4,892)
Total	$	340,225	$	335,424	$	1,746	$	(6,547)

Summary of Proceeds Received from Sales or Calls of Available for Sale Securities

The following table summarizes proceeds received from sales or calls of available for sale investment securities transactions and the resulting realized gains and losses during the nine months ended September 30, 2022 and 2021.

(Dollars in thousands)	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Gross proceeds from sales and calls of securities	$	6,137	$	106	$	23,271	$	32,975
Securities available for sale:
Gross realized gains from sold and called securities	$	—	$	—	$	25	$	130
Gross realized losses from sold and called securities		(378)		—		(1,477)		(72)
Net gains (losses) from sales and calls of securities	$	(378)	$	—	$	(1,452)	$	58

Schedule of Gross Unrealized Losses and Fair Value

The following tables show gross unrealized losses and fair values of debt securities available for sale, aggregated by category and length of time the individual securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021.

	Unrealized Losses at September 30, 2022
	Less Than 12 Months					12 Months or More					Total
(Dollars in thousands)	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Obligations of U.S. Government sponsored enterprises	2	$	6,995	$	(455)	8	$	34,955	$	(6,973)	10	$	41,950	$	(7,428)
Obligations of state and political subdivisions	5		3,394		(80)	6		4,287		(1,091)	11		7,681		(1,171)
Corporate debt securities	6		10,444		(1,556)	3		5,132		(556)	9		15,576		(2,112)
Mortgage-backed securities	47		77,474		(9,061)	37		144,570		(34,925)	84		222,044		(43,986)
Total temporarily impaired securities	60	$	98,307	$	(11,152)	54	$	188,944	$	(43,545)	114	$	287,251	$	(54,697)

	Unrealized Losses at December 31, 2021
	Less Than 12 Months					12 Months or More					Total
(Dollars in thousands)	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Obligations of U.S. Government sponsored enterprises	5	$	22,130	$	(752)	3	$	18,396	$	(603)	8	$	40,526	$	(1,355)
Obligations of state and political subdivisions	7		5,781		(83)	—		—		—	7		5,781		(83)
Corporate debt securities	6		10,144		(217)	—		—		—	6		10,144		(217)
Mortgage-backed securities	36		182,328		(3,504)	5		26,443		(1,388)	41		208,771		(4,892)
Total temporarily impaired securities	54	$	220,383	$	(4,556)	8	$	44,839	$	(1,991)	62	$	265,222	$	(6,547)