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Securities (Tables)
12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Contractual Maturities of Investment Securities Classified as Available for Sale and Held to Maturity
The following table lists contractual maturities of investment securities classified as available for sale and held to maturity as of December 31, 2020. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 Available for SaleHeld to Maturity
(in thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in one year or less$13,410 $13,603 $9,022 $9,078 
Due after one year through five years62,626 64,509 21,535 22,440 
Due after five years through ten years53,139 54,782 3,130 3,193 
Due after ten years198,539 201,489 2,508 2,543 
327,714 334,383 36,195 37,254 
Mortgage-backed and asset-backed securities511,558 521,363 54,571 56,614 
Total$839,272 $855,746 $90,766 $93,868 
Reconciliation of Available-for-Sale Securities
The amortized cost, gross unrealized gains and losses and the fair value of the Company's available for sale securities are as follows:
 December 31, 2020
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair
Value
U.S. Treasury and U.S. government agencies
$63,868 $1,447 $(313)$— $65,002 
Mortgage-backed securities, residential
224,978 3,718 (540)— 228,156 
Collateralized mortgage obligations, residential204,093 4,967 (22)— 209,038 
Mortgage-backed securities, multifamily
1,944 — — — 1,944 
Collateralized mortgage obligations, multifamily39,628 1,909 (2)— 41,535 
Asset-backed securities
40,915 — (225)— 40,690 
Obligations of states and political subdivisions
228,790 5,149 (228)(1)233,710 
Debt securities35,056 616 — (1)35,671 
Total$839,272 $17,806 $(1,330)$(2)$855,746 

December 31, 2019
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury and U.S. government agencies
$135,361 $722 $(436)$135,647 
Mortgage-backed securities, residential
224,679 752 (839)224,592 
Collateralized mortgage obligations, residential275,566 2,433 (712)277,287 
Mortgage-backed securities, multifamily
2,901 59 — 2,960 
Collateralized mortgage obligations, multifamily45,774 574 (123)46,225 
Obligations of states and political subdivisions
58,979 1,077 (35)60,021 
Debt securities9,000 168 — 9,168 
Total$752,260 $5,785 $(2,145)$755,900 
Reconciliation of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses and the fair value of the Company's held to maturity investment securities are as follows:
 December 31, 2020
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair
Value
U.S. government agencies$25,565 $779 $— $— $26,344 
Mortgage-backed securities, residential
39,276 1,469 (12)— 40,733 
Collateralized mortgage obligations, residential14,590 532 — — 15,122 
Mortgage-backed securities, multifamily
705 54 — — 759 
Obligations of states and political subdivisions
10,630 280 — — 10,910 
Total$90,766 $3,114 $(12)$— $93,868 
 December 31, 2019
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. government agencies$31,335 $182 $(8)$31,509 
Mortgage-backed securities, residential
48,082 562 (121)48,523 
Collateralized mortgage obligations, residential28,147 172 (55)28,264 
Mortgage-backed securities, multifamily
1,750 (2)1,752 
Obligations of states and political subdivisions
12,161 195 — 12,356 
Debt securities2,500 — — 2,500 
Total$123,975 $1,115 $(186)$124,904 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The table below indicates the credit profile of the Company's debt securities held to maturity at amortized cost at December 31, 2020:
(in thousands) AAA  AA  Total
U.S. Treasury and U.S. government agencies$25,565 $— $25,565 
Mortgage-backed securities, residential39,276 — 39,276 
Collateralized mortgage obligations, residential14,590 — 14,590 
Mortgage-backed securities, multifamily705 — 705 
Obligations of states and political subdivisions2,959 7,671 10,630 
Total$83,095 $7,671 $90,766 
Reconciliation of Available-for-Sale and Held-to-Maturity Securities in Continuous Unrealized Loss Position
The following tables indicate the length of time individual securities have been in a continuous unrealized loss position for the periods presented:
December 31, 2020Less Than 12 Months12 Months or LongerTotal
(dollars in thousands)Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Number of
Securities
Fair ValueUnrealized
Losses
AVAILABLE FOR SALE
U.S. Treasury and U.S. government agencies
$4,966 $29 $17,652 $284 $22,618 $313 
Mortgage-backed securities, residential84,137 471 5,656 69 30 89,793 540 
Collateralized mortgage obligations, residential23,858 22 — — 23,858 22 
Mortgage-backed securities, multifamily1,943 — — — 1,943 — 
Collateralized mortgage obligations, multifamily2,527 — — 2,527 
Asset-backed securities
40,690 225 — — 40,690 225 
Obligations of states and political subdivisions
15,901 228 — — 10 15,901 228 
Total$174,022 $977 $23,308 $353 $61 $197,330 $1,330 
HELD TO MATURITY
Mortgage-backed securities, residential2,561 12 — — 2,561 12 
Total$2,561 $12 $— $— $$2,561 $12 

December 31, 2019Less Than 12 Months12 Months or LongerTotal
(dollars in thousands)Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Number of
Securities
Fair ValueUnrealized
Losses
AVAILABLE FOR SALE
U.S. Treasury and U.S. government agencies
$11,625 $39 $41,617 $397 11 $53,242 $436 
Mortgage-backed securities, residential67,039 313 64,509 526 48 131,548 839 
Collateralized mortgage obligations, residential58,743 248 34,980 464 38 93,723 712 
Collateralized mortgage obligations, multifamily7,651 118 4,878 12,529 123 
Obligations of states and political subdivisions
373 6,559 33 6,932 35 
Total$145,431 $720 $152,543 $1,425 105 $297,974 $2,145 
HELD TO MATURITY
U.S. government agencies$3,195 $$5,102 $$8,297 $
Mortgage-backed securities, residential5,379 20 8,060 101 10 13,439 121 
Collateralized mortgage obligations, residential7,083 26 2,532 29 9,615 55 
Mortgage-backed securities, multifamily— — 998 998 
Total$15,657 $52 $16,692 $134 19 $32,349 $186