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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Debt Securities Available-For-Sale
The amortized cost, gross unrealized gains and losses, and fair value of debt securities classified as available-for-sale at December 31, 2022 and 2021 were as follows:
Total
Amortized
Cost
Gross UnrealizedFair
Value
(in thousands)
GainsLosses
December 31, 2022
U.S. Treasury$2,198 $— $(46)$2,152 
U.S. government and federal agency obligations591 — (32)559 
U.S. government-sponsored enterprises26,499 — (2,722)23,777 
Obligations of states and political subdivisions134,994 — (25,554)109,440 
Mortgage-backed securities119,556 (16,864)102,699 
Other debt securities (a)11,825 — (882)10,943 
Bank issued trust preferred securities (a)1,486 — (309)1,177 
Total available-for-sale securities$297,149 $$(46,409)$250,747 
December 31, 2021
U.S. Treasury$3,909 $11 $(3)$3,917 
U.S. government and federal agency obligations1,314 — 1,319 
U.S. government-sponsored enterprises26,498 70 (196)26,372 
Obligations of states and political subdivisions128,093 1,605 (474)129,224 
Mortgage-backed securities137,286 791 (1,611)136,466 
Other debt securities (a)11,825 482 (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
Cost
Fair
Value
Due in one year or less$9,526 $9,289 
Due after one year through five years17,261 16,103 
Due after five years through ten years30,236 26,999 
Due after ten years120,570 95,657 
Total177,593 148,048 
Mortgage-backed securities119,556 102,699 
Total available-for-sale securities$297,149 $250,747 
Schedule of Other Securities Investments in FHLB stock and MIB stock, that do not have readily determinable fair values, are required for membership in those organizations.
(in thousands)20222021
Other securities:
FHLB stock$6,156 $5,197 
MIB stock151 151 
Equity securities with readily determinable fair values46 60 
Total other investment securities$6,353 $5,408 
Schedule of Unrealized Losses 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 December 31, 2022 and December 31, 2021 were as follows:
Less than 12 months12 months or moreTotal
Fair
Value
Total
Unrealized
Losses
(in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
At December 31, 2022
U.S. Treasury$1,908 $(41)$244 $(5)$2,152 $(46)
U.S. government and federal agency obligations559 (32)— — 559 (32)
U.S. government-sponsored enterprises7,066 (933)16,711 (1,789)23,777 (2,722)
Obligations of states and political subdivisions79,396 (15,421)29,370 (10,133)108,766 (25,554)
Mortgage-backed securities33,334 (3,124)68,911 (13,740)102,245 (16,864)
Other debt securities7,557 (443)3,386 (439)10,943 (882)
Bank issued trust preferred securities— — 1,177 (309)1,177 (309)
Total$129,820 $(19,994)$119,799 $(26,415)$249,619 $(46,409)
At 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 $(2,505)
Schedule of Components of Investment Securities Gains and Losses
The following table presents the gross unrealized gains and losses from sales and calls of available-for-sale securities, as well as gains and losses on equity securities from fair value adjustments which have been recognized in earnings:
(in thousands)202220212020
Available-for-sale securities:   
Gains realized on sales$— $122 $49 
Losses realized on sales— — (8)
Other-than-temporary impairment recognized— — — 
Other investment securities:
Fair value adjustments, net(14)27 20 
Investment securities gains (losses), net$(14)$149 $61