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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Debt Securities Available-for-Sale
The amortized cost and fair value of debt securities classified as available-for-sale at September 30, 2022 and December 31, 2021 were as follows:
Gross Unrealized
(in thousands)Total Amortized CostGainsLossesFair Value
September 30, 2022
U.S. Treasury$3,555 $— $(49)$3,506 
U.S. government and federal agency obligations592—(34)558
U.S. government-sponsored enterprises26,499—(2,896)23,603
Obligations of states and political subdivisions134,747—(32,591)102,156
Mortgage-backed securities120,9777(18,038)102,946
Other debt securities (a)11,825—(646)11,179
Bank issued trust preferred securities (a)1,486—(279)1,207
Total available-for-sale securities$299,681 $7 $(54,533)$245,155 
December 31, 2021
U.S. Treasury$3,909 $11 $(3)$3,917 
U.S. government and federal agency obligations1,3145—1,319
U.S. government-sponsored enterprises26,49870(196)26,372
Obligations of states and political subdivisions128,0931,605(474)129,224
Mortgage-backed securities137,286791(1,611)136,466
Other debt securities (a)11,825482(23)12,284
Bank issued trust preferred securities (a)1,486—(198)1,288
Total available-for-sale securities$310,411 $2,964 $(2,505)$310,870 
(a) Certain hybrid instruments possessing characteristics typically associated with debt obligations.
Schedule of Amortized Cost and Fair Value of Debt Securities Classified as Available-for-Sale by Contractual Maturity Expected maturities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without prepayment penalties.
(in thousands)Amortized CostFair Value
Due in one year or less$5,732 $5,675 
Due after one year through five years22,43720,913
Due after five years through ten years28,97625,920
Due after ten years121,55989,701
Total178,704142,209
Mortgage-backed securities120,977102,946
Total available-for-sale securities$299,681 $245,155 
Schedule of Other Securities Investments in FHLB stock, and Midwest Independent Bank (MIB) bankers bank stock, that do not have readily determinable fair values, are required for membership in those organizations.
(in thousands)September 30, 2022December 31, 2021
Other securities:
FHLB stock$5,162$5,197
MIB stock151151
Equity securities with readily determinable fair values4860
Total other investment securities$5,361$5,408
Schedule of Gross Unrealized Losses on Debt Securities and Fair Value of Related Securities Aggregated by Investment Category and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position
Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2022 and December 31, 2021 were as follows:
Less than 12 months12 months or more
(in thousands)Fair ValueUnrealized Losses Fair ValueUnrealized LossesTotal Fair ValueTotal Unrealized Losses
September 30, 2022
U.S. Treasury$2,758 $(46)$748 $(3)$3,506 $(49)
U.S. government and federal agency obligations558 (34)— — 558 (34)
U.S. government-sponsored enterprises19,487 (2,012)4,116 (884)23,603 (2,896)
Obligations of states and political subdivisions75,649 (20,664)26,507 (11,927)102,156 (32,591)
Mortgage-backed securities60,397 (7,945)41,998 (10,093)102,395 (18,038)
Other debt securities11,179 (646)— — 11,179 (646)
Bank issued trust preferred securities— — 1,207 (279)1,207 (279)
Total$170,028 $(31,347)$74,576 $(23,186)$244,604 $(54,533)
(in thousands)
December 31, 2021
U.S. Treasury$1,758 $(3)$— $— $1,758 $(3)
U.S. government-sponsored enterprises18,304 (196)— — 18,304 (196)
Obligations of states and political subdivisions39,221 (474)— — 39,221 (474)
Mortgage-backed securities89,520 (1,579)1,864 (32)91,384 (1,611)
Other debt securities3,802 (23)— — 3,802 (23)
Bank issued trust preferred securities— — 1,288 (198)1,288 (198)
Total$152,605 $(2,275)$3,152 $(230)$155,757 $(2,505)
Schedule of Components of Investment Securities Gains and Losses
The following table presents the gross realized gains and losses from sales and calls of available-for-sale securities, as well as gains and losses on equity securities from fair value adjustments which have been recognized in earnings for the periods indicated:
Three Months Ended June 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Investment securities gains (losses), net  
Available-for-sale securities:  
Gross realized gains$—$119$—$121
Gross realized losses———— 
Other-than-temporary impairment recognized————
Other investment securities:
Fair value adjustments, net17 (12)19
Investment securities gains (losses), net$1$126$(12)$140