Investments (Tables)

9 Months Ended

Sep. 30, 2021

Investments [Abstract]

Unrealized Gain (Loss) on Investments

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		OTTI in AOCL
September 30, 2021
Available for Sale:
U.S. government agencies	$	55,527	$	235	$	2,028	$	53,734	$	—
Residential mortgage-backed agencies		30,936		21		603		30,354		—
Commercial mortgage-backed agencies		55,980		224		695		55,509		—
Collateralized mortgage obligations		70,766		104		1,791		69,079		—
Obligations of states and political subdivisions		9,402		394		—		9,796		—
Collateralized debt obligations		18,586		95		1,589		17,092		(715)
Total available for sale	$	241,197	$	1,073	$	6,706	$	235,564	$	(715)
Held to Maturity:
Residential mortgage-backed agencies	$	32,113	$	882	$	394	$	32,601	$	—
Commercial mortgage-backed agencies		9,697		335		—		10,032		—
Obligations of states and political subdivisions		20,169		8,905		—		29,074		—
Total held to maturity	$	61,979	$	10,122	$	394	$	71,707	$	—
December 31, 2020
Available for Sale:
U.S. government agencies	$	75,856	$	899	$	322	$	76,433	$	—
Residential mortgage-backed agencies		22,999		—		100		22,899		—
Commercial mortgage-backed agencies		32,549		529		36		33,042		—
Collateralized mortgage obligations		70,372		266		1		70,637		—
Obligations of states and political subdivisions		10,144		470		—		10,614		—
Collateralized debt obligations		18,544		—		5,284		13,260		(3,839)
Total available for sale	$	230,464	$	2,164	$	5,743	$	226,885	$	(3,839)
Held to Maturity:
Residential mortgage-backed agencies	$	34,597	$	1,173	$	38	$	35,732	$	—
Commercial mortgage-backed agencies		11,716		587		—		12,303		—
Collateralized mortgage obligations		1,348		58		—		1,406		—
Obligations of states and political subdivisions		20,602		7,569		—		28,171		—
Total held to maturity	$	68,263	$	9,387	$	38	$	77,612	$	—

Gross Unrealized Losses and Fair Values of Securities

	Less than 12 months					12 months or more
(in thousands)	Fair Value		Unrealized Losses		Number of Investments	Fair Value		Unrealized Losses		Number of Investments
September 30, 2021
Available for Sale:
U.S. government agencies	$	—	$	—	—	$	34,325	$	2,028	6
Residential mortgage-backed agencies		20,582		603	2		—		—	—
Commercial mortgage-backed agencies		41,647		480	5		7,725		215	1
Collateralized mortgage obligations		65,329		1,791	8		—		—	—
Collateralized debt obligations		—		—	—		10,397		1,589	5
Total available for sale	$	127,558	$	2,874	15	$	52,447	$	3,832	12
Held to Maturity:
Residential mortgage-backed agencies		8,500		394	3		—		—	—
Total held to maturity	$	8,500	$	394	3	$	—	$	—	—
December 31, 2020
Available for Sale:
U.S. government agencies	$	39,611	$	322	7	$	—	$	—	—
Residential mortgage-backed agencies		22,899		100	2		—		—	—
Commercial mortgage-backed agencies		16,034		36	1		—		—	—
Collateralized mortgage obligations		39,628		1	4		—		—	—
Collateralized debt obligations		—		—	—		13,260		5,284	9
Total available for sale	$	118,172	$	459	14	$	13,260	$	5,284	9
Held to Maturity:
Residential mortgage-backed agencies	$	2,973	$	38	1	$	—	$	—	—
Total held to maturity	$	2,973	$	38	1	$	—	$	—	—

Non-Cash OTTI Credit Losses Recognized in Earnings

	Nine Months Ended
	September 30,
(in thousands)	2021		2020
Balance of credit-related OTTI at January 1	$	2,244	$	2,446
Reduction for increases in cash flows expected to be collected		(151)		(151)
Balance of credit-related OTTI at September 30	$	2,093	$	2,295

	Three Months Ended
	September 30,
(in thousands)	2021		2020
Balance of credit-related OTTI at July 1	$	2,143	$	2,345
Reduction for increases in cash flows expected to be collected		(50)		(50)
Balance of credit-related OTTI at September 30	$	2,093	$	2,295

Amortized Cost and Fair Values Classified by Contractual Maturity Date

	September 30, 2021
(in thousands)	Amortized Cost		Fair Value
Contractual Maturity
Available for Sale:
Due after one year through five years	$	4,404	$	4,466
Due after five years through ten years		10,057		10,198
Due after ten years		69,054		65,958
		83,515		80,622
Residential mortgage-backed agencies		30,936		30,354
Commercial mortgage-backed agencies		55,980		55,509
Collateralized mortgage obligations		70,766		69,079
Total available for sale	$	241,197	$	235,564
Held to Maturity:
Due after ten years	$	20,169	$	29,074
Residential mortgage-backed agencies		32,113		32,601
Commercial mortgage-backed agencies		9,697		10,032
Collateralized mortgage obligations		—		—
Total held to maturity	$	61,979	$	71,707