Investment Securities and Other Investments (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Investments [Abstract]

Summary of Amortized Cost and Fair Values of Investment Securities Available for Sale

The following tables present amortized cost, fair values, and gross unrealized gains and losses of investment securities AFS as of the dates stated.

	March 31, 2023
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale
State and municipal	$	59,408	$	—	$	(7,747	)	$	51,661
U.S. Treasury and agencies		72,051		—		(9,898	)		62,153
Mortgage backed securities		231,761		19		(32,461	)		199,319
Corporate bonds		42,420		32		(3,595	)		38,857
Total investment securities	$	405,640	$	51	$	(53,701	)	$	351,990

	December 31, 2022
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for sale
State and municipal	$	60,018	$	—	$	(9,025	)	$	50,993
U.S. Treasury and agencies		80,073		—		(12,911	)		67,162
Mortgage backed securities		230,015		51		(33,730	)		196,336
Corporate bonds		42,909		124		(3,183	)		39,850
Total investment securities	$	413,015	$	175	$	(58,849	)	$	354,341

Summary of Investments Classified by Contractual Maturity Date

The following table presents the amortized cost and fair value of securities available for sale by contractual maturity as of the date stated. Expected maturities may differ from contractual maturities, as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	March 31, 2023
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	1,502	$	1,499
Due after one year through five years		52,227		47,470
Due after five years through ten years		129,729		114,220
Due after ten years		222,182		188,801
Total	$	405,640	$	351,990

Summary of Unrealized Losses

The following tables present a summary of unrealized losses and the length of time securities have been in a continuous loss position, by security type and number of securities, as of the dates stated.

			March 31, 2023
			Less than 12 Months					12 Months or Greater					Total
(Dollars in thousands)	Number of Securities		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal		80	$	3,265	$	(92	)	$	46,807	$	(7,655	)	$	50,072	$	(7,747	)
U.S. Treasury and agencies		26		4,885		(115	)		57,264		(9,783	)		62,149		(9,898	)
Mortgage backed securities		81		11,475		(408	)		179,759		(32,053	)		191,234		(32,461	)
Corporate bonds		34		20,801		(1,729	)		12,724		(1,866	)		33,525		(3,595	)
Total		221	$	40,426	$	(2,344	)	$	296,554	$	(51,357	)	$	336,980	$	(53,701	)

			December 31, 2022
			Less than 12 Months					12 Months or Greater					Total
(Dollars in thousands)	Number of Securities		Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal		82	$	18,252	$	(2,178	)	$	31,530	$	(6,847	)	$	49,782	$	(9,025	)
U.S. Treasury and agencies		28		9,904		(1,039	)		56,686		(11,872	)		66,590		(12,911	)
Mortgage backed securities		78		39,006		(3,061	)		148,449		(30,669	)		187,455		(33,730	)
Corporate bonds		33		26,018		(2,283	)		5,675		(900	)		31,693		(3,183	)
Total		221	$	93,180	$	(8,561	)	$	242,340	$	(50,288	)	$	335,520	$	(58,849	)