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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023 and December 31, 2022 were as follows:
Gross Unrealized
(in thousands)Total Amortized CostGainsLossesFair Value
March 31, 2023
U.S. Treasury$5,125 $13 $(34)$5,104 
U.S. government and federal agency obligations515 — (25)490 
U.S. government-sponsored enterprises27,499 — (2,282)25,217 
Obligations of states and political subdivisions134,531 28 (21,970)112,589 
Mortgage-backed securities119,360 65 (15,045)104,380 
Other debt securities (a)11,825 — (1,099)10,726 
Bank issued trust preferred securities (a)1,486 — (339)1,147 
Total available-for-sale securities$300,341 $106 $(40,794)$259,653 
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 7 (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 $7 $(46,409)$250,747 
(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$10,317 $10,157 
Due after one year through five years19,01518,085
Due after five years through ten years30,66327,539
Due after ten years120,98699,492
Total$180,981 $155,273 
Mortgage-backed securities119,360104,380
Total available-for-sale securities$300,341 $259,653 
Schedule of Other Securities Investments in FHLB stock, and Midwest Independent BankersBank (MIB) stock, that do not have readily determinable fair values, are required for membership in those organizations.
(in thousands)March 31, 2023December 31, 2022
Other securities:
FHLB stock$6,035$6,156
MIB stock151151
Equity securities with readily determinable fair values5446
Total other investment securities$6,240$6,353
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 March 31, 2023 and December 31, 2022 were as follows:
Less than 12 months12 months or more
(in thousands)Fair ValueUnrealized Losses Fair ValueUnrealized LossesTotal Fair ValueTotal Unrealized Losses
March 31, 2023
U.S. Treasury$468 $(3)$1,391 $(31)$1,859 $(34)
U.S. government and federal agency obligations— — 490 (25)490 (25)
U.S. government-sponsored enterprises996 (4)24,221 (2,278)25,217 (2,282)
Obligations of states and political subdivisions3,968 (180)106,281 (21,790)110,249 (21,970)
Mortgage-backed securities4,271 (119)93,925 (14,926)98,196 (15,045)
Other debt securities6,652 (348)4,074 (751)10,726 (1,099)
Bank issued trust preferred securities— — 1,147 (339)1,147 (339)
Total$16,355 $(654)$231,529 $(40,140)$247,884 $(40,794)
(in thousands)
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 $(46,409)
Schedule of Components of Investment Securities Gains and Losses
The following table presents the gross realized gains and losses from sales and calls of available-for-sale securities, as well as gains and losses on equity securities from fair value adjustments which have been recognized in earnings:
Three Months Ended March 31,
(in thousands)20232022
Investment securities gains (losses), net
Available-for-sale securities:
Gross realized gains$—$—
Gross realized losses—— 
Other-than-temporary impairment recognized——
Other investment securities:
Fair value adjustments, net8(4)
Investment securities gains (losses), net$8$(4)