XML 48 R35.htm IDEA: XBRL DOCUMENT v3.22.0.1
Securities (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Reconciliation of Available-for-Sale Securities
The amortized cost, gross unrealized gains and losses, allowance for credit losses and the fair value of the Company's investment securities available for sale are as follows:
 December 31, 2021
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesFair
Value
U.S. Treasury and U.S. government agencies
$202,961 $1,215 $(789)$— $203,387 
Mortgage-backed securities, residential
238,456 1,250 (1,731)— 237,975 
Collateralized mortgage obligations, residential191,086 1,693 (1,488)— 191,291 
Mortgage-backed securities, multifamily
1,816 — (75)— 1,741 
Collateralized mortgage obligations, multifamily32,254 511 (246)— 32,519 
Asset-backed securities
52,518 153 (87)— 52,584 
Debt securities49,598 959 (15)(83)50,459 
Total$768,689 $5,781 $(4,431)$(83)$769,956 
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 
Reconciliation of Held-to-Maturity Securities
The amortized cost, gross unrealized gains and losses, allowance for credit losses and the fair value of the Company's investment securities held to maturity are as follows:
 December 31, 2021
(in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for Credit LossesFair
Value
U.S. government agencies$18,672 $293 $— $— $18,965 
Mortgage-backed securities, residential
370,247 718 (5,989)— 364,976 
Collateralized mortgage obligations, residential13,921 168 — — 14,089 
Mortgage-backed securities, multifamily
2,710 26 (2)— 2,734 
Obligations of states and political subdivisions
416,587 810 (5,800)(21)411,576 
Debt securities3,000 31 — (160)2,871 
Total$825,137 $2,046 $(11,791)$(181)$815,211 
 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 
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, 2021. 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$12,005 $12,063 $21,345 $21,497 
Due after one year through five years58,188 58,409 34,047 34,192 
Due after five years through ten years124,825 125,735 42,528 42,315 
Due after ten years57,541 57,639 340,339 335,408 
252,559 253,846 438,259 433,412 
Mortgage-backed and asset-backed securities516,130 516,110 386,878 381,799 
Total$768,689 $769,956 $825,137 $815,211 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables indicate the length of time individual securities have been in a continuous unrealized loss position for the periods presented:
December 31, 2021Less 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
$76,106 $322 $14,670 $467 15 $90,776 $789 
Mortgage-backed securities, residential176,990 1,465 14,582 266 45 191,572 1,731 
Collateralized mortgage obligations, residential86,749 1,429 5,000 59 18 91,749 1,488 
Mortgage-backed securities, multifamily— — 1,741 75 1 1,741 75 
Collateralized mortgage obligations, multifamily9,083 210 1,072 36 4 10,155 246 
Asset-backed securities
14,688 87 — — 3 14,688 87 
Debt securities15,325 (5)980 20 8 16,305 15 
Total$378,941 $3,508 $38,045 $923 $94 $416,986 $4,431 
HELD TO MATURITY
Mortgage-backed securities, residential$340,474 $5,882 $2,376 $107 96 $342,850 $5,989 
Mortgage-backed securities, multifamily2,051 2 — — 1 2,051 2 
Obligations of states and political subdivisions307,827 5,800 — — 239 307,827 5,800 
Total$650,352 $11,684 $2,376 $107 $336 $652,728 $11,791 
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 6 $22,618 $313 
Mortgage-backed securities, residential84,137 471 5,656 69 30 89,793 540 
Collateralized mortgage obligations, residential23,858 22 — — 7 23,858 22 
Mortgage-backed securities, multifamily1,943 — — — 1 1,943 — 
Collateralized mortgage obligations, multifamily2,527 2 — — 1 2,527 2 
Asset-backed securities40,690 225 — — 640,690 225 
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, residential$2,561 $12 $— $— 4 $2,561 $12 
Total$2,561 $12 $— $— 4 $2,561 $12 
Debt Securities, Held-to-maturity, Credit Quality Indicator
The tables below indicate the credit profile of the Company's investment securities held to maturity at amortized cost for the periods presented:
December 31, 2021 AAA  AA  A  BBB  Not Rated  Total
(in thousands)
U.S. Treasury and U.S. government agencies$18,672 $— $— $— $— $18,672 
Mortgage-backed securities, residential370,247 — — — — 370,247 
Collateralized mortgage obligations, residential13,921 — — — — 13,921 
Mortgage-backed securities, multifamily2,710 — — — — 2,710 
Obligations of states and political subdivisions143,777 270,909 1,068 — 833 416,587 
Debt securities— — — 3,000 — 3,000 
Total$549,327 $270,909 $1,068 $3,000 $833 $825,137 
December 31, 2020 AAA  AA  Total
(in thousands)
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