Note 6 - Investment Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments Debt And Equity Securities [Abstract]

Debt Securities Available-for-sale

The amortized cost and estimated fair values of investment securities available-for-sale at March 31, 2023 and December 31, 2022 were as follows:

			Gross		Gross
			unrealized		unrealized
	Fair		holding		holding			Amortized
March 31, 2023	value		gains		losses			cost
U.S. Treasury	$	—	$	—	$	—		$	—
U.S. Government agency		88,701		—		(13,243	)		101,944
State and municipal		89,917		—		(19,514	)		109,431
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		252,984		—		(41,314	)		294,298
Collateralized mortgage obligations (CMOs)		100,083		—		(16,800	)		116,883
Corporate debt		6,219		—		(412	)		6,631
Total investment debt securities available-for-sale	$	537,904	$	—	$	(91,283	)	$	629,187

			Gross		Gross
			unrealized		unrealized
	Fair		holding		holding			Amortized
December 31, 2022	value		gains		losses			cost
U.S. Treasuries	$	301	$	2	$	—		$	299
U.S. Government agency		86,709		—		(15,233	)		101,942
State and municipal		95,367		—		(23,494	)		118,861
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		256,161		—		(45,303	)		301,464
Collateralized mortgage obligations (CMOs)		101,672		—		(18,338	)		120,010
Corporate debt		6,315		—		(326	)		6,641
Total investment debt securities available-for-sale	$	546,525	$	2	$	(102,694	)	$	649,217

Investment Securities by Contractual Maturity

The amortized cost and estimated fair value of securities available-for-sale by contractual maturity at March 31, 2023 are shown in the following table.

March 31, 2023	Fair value		Amortized cost
Due in one year or less	$	329	$	338
Due after one year through five years		114,266		126,292
Due after five years through ten years		344,044		405,060
Due after ten years		79,265		97,497
Total investment debt securities available-for-sale	$	537,904	$	629,187

Realized Gain (Loss) on Investments

The following table presents information related to the Company’s gains and losses on the sales and calls of securities available-for-sale, and losses recognized for the other-than-temporary impairment (“OTTI”) of these investments.

	For the Three Months Ended March 31,
	2023			2022
Gross realized gains	$	—		$	1
Gross realized losses		(257	)		—
Other-than-temporary impairment		—			—
Total net gains (losses) on AFS securities	$	(257	)	$	1

Debt Securities in a Continuous Unrealized Loss Position

The following table indicates the length of time individual debt securities have been in a continuous unrealized loss position as of March 31, 2023 and December 31, 2022:

			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
March 31, 2023	securities		value		losses			value		losses			value		losses
U.S. Government agency		46	$	—	$	—		$	88,701	$	(13,243	)	$	88,701	$	(13,243	)
State and municipal		192		4,746		(223	)		85,171		(19,291	)		89,917		(19,514	)
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		191		4,584		(295	)		248,400		(41,019	)		252,984		(41,314	)
Collateralized mortgage obligations (CMOs)		128		8,213		(534	)		91,870		(16,266	)		100,083		(16,800	)
Corporate debt		4		2,909		(91	)		3,310		(321	)		6,219		(412	)
Total		561	$	20,452	$	(1,143	)	$	517,452	$	(90,140	)	$	537,904	$	(91,283	)

			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
December 31, 2022	securities		value		losses			value		losses			value		losses
U.S. Government agency		46	$	3,647	$	(353	)	$	83,062	$	(14,880	)	$	86,709	$	(15,233	)
State and municipal		216		50,156		(7,816	)		45,210		(15,678	)		95,366		(23,494	)
U.S. Government agencies and sponsored enterprises (GSEs):
Mortgage-backed		197		58,811		(6,775	)		197,351		(38,528	)		256,162		(45,303	)
Collateralized mortgage obligations (CMOs)		129		35,797		(3,983	)		65,875		(14,355	)		101,672		(18,338	)
Corporate debt		4		6,262		(318	)		53		(8	)		6,315		(326	)
Total		592	$	154,673	$	(19,245	)	$	391,551	$	(83,449	)	$	546,224	$	(102,694	)

Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities

The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended March 31, 2023 and 2022:

	For the Three Months Ended March 31,
	2023			2022
Net (loss) gains recognized during the period on equity securities	$	(151	)	$	27
Less: Net (losses) gains recognized during the period on equity securities sold during the period		(208	)		35
Net unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$	57		$	(8	)