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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2023 and December 31, 2022 were as follows:
Gross Unrealized
(in thousands)Total Amortized CostGainsLossesFair Value
September 30, 2023
U.S. Treasury$4,908 $— $(40)$4,868 
U.S. government and federal agency obligations446—(26)420
U.S. government-sponsored enterprises27,499—(2,637)24,862
Obligations of states and political subdivisions131,697—(32,762)98,935
Mortgage-backed securities112,1162(19,375)92,743
Other debt securities (a)11,825—(1,291)10,534
Bank issued trust preferred securities (a)1,486—(332)1,154
Total available-for-sale securities$289,977 $2 $(56,463)$233,516 
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 securities119,5567(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$9,120 $9,064 
Due after one year through five years23,85321,728
Due after five years through ten years28,98224,924
Due after ten years115,90685,057
Total$177,861 $140,773 
Mortgage-backed securities112,11692,743
Total available-for-sale securities$289,977 $233,516 
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)September 30, 2023December 31, 2022
Other securities:
FHLB stock$6,790$6,156
MIB stock151151
Equity securities with readily determinable fair values6446
Total other investment securities$7,005$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 September 30, 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
September 30, 2023
U.S. Treasury$3,568 $(10)$1,300 $(30)$4,868 $(40)
U.S. government and federal agency obligations— — 420 (26)420 (26)
U.S. government-sponsored enterprises985 (15)23,877 (2,622)24,862 (2,637)
Obligations of states and political subdivisions3,326 (380)95,609 (32,382)98,935 (32,762)
Mortgage-backed securities5,760 (296)86,648 (19,079)92,408 (19,375)
Other debt securities— — 10,534 (1,291)10,534 (1,291)
Bank issued trust preferred securities— — 1,154 (332)1,154 (332)
Total$13,639 $(701)$219,542 $(55,762)$233,181 $(56,463)
(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 $(46,409)
Schedule of Components of Investment Securities Gains and Losses
The following table presents the gross realized gains and losses from sales and calls of available-for-sale securities, as well as gains and losses on equity securities from fair value adjustments, which were recognized in earnings:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2023202220232022
Gross realized gains$—$—$—$—
Gross realized losses———— 
Other-than-temporary impairment recognized————
Other investment securities:
Fair value adjustments, net31 18(12)
Investment securities gains (losses), net$3$1$18$(12)