Investment Securities (Tables)

3 Months Ended

Mar. 31, 2022

Securities Financing Transactions Disclosures [Abstract]

Unrealized Gain (Loss) on Investments

The amortized cost, fair value, and unrealized gains and losses on investment securities at March 31, 2022 and December 31, 2021 are as follows:

(Dollars in thousands)	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
March 31, 2022
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies	$	7,500	$	—	$	174	$	7,326
Mortgage-backed U.S. government agencies		120,342		—		5,740		114,602
State and political subdivision obligations		4,371		—		443		3,928
Corporate debt securities		19,768		—		585		19,183
Total available-for-sale debt securities		151,981		—		6,942		145,039
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	$	206,039	$	—	$	13,127	$	192,912
Mortgage-backed U.S. government agencies		58,175		2		3,136		55,041
State and political subdivision obligations		84,930		221		3,712		81,439
Corporate debt securities		14,001		18		388		13,631
Total held-to-maturity debt securities		363,145		241		20,363		343,023
Total	$	515,126	$	241	$	27,305	$	488,062

(Dollars in thousands)	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
December 31, 2021
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies	$	49,760	$	3	$	283	$	49,480
State and political subdivision obligations		3,899		26		11		3,914
Corporate debt securities		9,525		—		57		9,468
Total available-for-sale debt securities		63,184		29		351		62,862
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	$	178,136	$	26	$	1,165	$	176,997
Mortgage-backed U.S. government agencies		61,157		440		272		61,325
State and political subdivision obligations		75,958		2,305		27		78,236
Corporate debt securities		14,006		133		71		14,068
Total held-to-maturity debt securities		329,257		2,904		1,535		330,626
Total	$	392,441	$	2,933	$	1,886	$	393,488

Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position

The following tables present gross unrealized losses and fair value of debt security investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2022 and December 31, 2021.  

(Dollars in thousands)	Less Than 12 Months					12 Months or More					Total
	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
March 31, 2022	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies	4	$	7,326	$	174	0	$	—	$	—	4	$	7,326	$	174
Mortgage-backed U.S. government agencies	58		106,050		5,740	0		—		—	58		106,050		5,740
State and political subdivision obligations	8		3,928		443	0		—		—	8		3,928		443
Corporate debt securities	7		12,414		585	0		—		—	7		12,414		585
Total temporarily impaired available-for-sale debt securities	77	$	129,718	$	6,942	0	$	—	$	—	77	$	129,718	$	6,942
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies	117	$	185,228	$	12,316	5	$	7,684	$	811	122	$	192,912	$	13,127
Mortgage-backed U.S. government agencies	60		54,163		3,136	0		—		—	60		54,163		3,136
State and political subdivision obligations	143		61,324		3,643	3		665		69	146		61,989		3,712
Corporate debt securities	5		5,835		226	2		2,838		162	7		8,673		388
Total temporarily impaired held-to-maturity debt securities	325		306,550		19,321	10		11,187		1,042	335		317,737		20,363
Total	402	$	436,268	$	26,263	10	$	11,187	$	1,042	412	$	447,455	$	27,305

(Dollars in thousands)	Less Than 12 Months					12 Months or More						Total
	Number					Number						Number
	of	Fair		Unrealized		of	Fair		Unrealized			of	Fair		Unrealized
December 31, 2021	Securities	Value		Losses		Securities	Value		Losses			Securities	Value		Losses
Available-for-sale securities:
U.S. government agencies	24	$	45,476	$	283	0	$	—		$	—	24	$	45,476	$	283
State and political subdivision obligations	2		1,168		11	0		—			—	2		1,168		11
Corporate debt securities	4		4,943		57	0		—			—	4		4,943		57
Total temporarily impaired available-for-sale securities	30		51,587		351	0		—			—	30		51,587		351
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies	91	$	149,425	$	1,165	0	$	—		$	—	91	$	149,425	$	1,165
Mortgage-backed U.S. government agencies	24		39,995		272	0		—			—	24		39,995		272
State and political subdivision obligations	17		5,302		25	1		255			2	18		5,557		27
Corporate debt securities	6		6,928		71	0		—			—	6		6,928		71
Total temporarily impaired held to maturity securities	138		201,650		1,533	1		255			2	139		201,905		1,535
Total	168	$	253,237	$	1,884	1	$	255		$	2	169	$	253,492	$	1,886

Schedule of Gross Realized Gains (Losses) on Sales of Available-For-Sale Debt Securities

Gross realized gains and losses on sales of available-for-sale debt securities for the three months ended March 31, 2022 and 2021 are shown in the table below.   

(Dollars in thousands)	Three Months Ended March 31,
	2022			2021
Realized gains		$	—		$	137
Realized losses			—			(5	)
Net gains		$	—		$	132

Investments Classified by Contractual Maturity Date

The table below illustrates the maturity distribution of investment securities at amortized cost and fair value as of March 31, 2022.

(Dollars in thousands)	Available-for-sale				Held-to-maturity
	Amortized		Fair		Amortized		Fair
March 31, 2022	Cost		Value		Cost		Value
Due in 1 year or less	$	250	$	250	$	1,950	$	1,952
Due after 1 year but within 5 years		5,000		4,738		49,912		48,973
Due after 5 years but within 10 years		22,319		21,793		213,035		200,726
Due after 10 years		4,070		3,656		40,073		36,331
		31,639		30,437		304,970		287,982
Mortgage-backed securities		120,342		114,602		58,175		55,041
	$	151,981	$	145,039	$	363,145	$	343,023