Investment Securities (Tables)

9 Months Ended

Sep. 30, 2020

Investment Securities

Schedule of amortized cost of investment securities to estimated fair values

	September 30, 2020
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
U.S. Treasury and agencies	$	16,075	$	34	$	(17)	$	16,092
Obligations of state and political agencies		142,308		4,908		—		147,216
Mortgage backed securities
Residential agency		203,812		7,933		(45)		211,700
Commercial		86,502		1,092		(52)		87,542
Asset backed securities		123		8		—		131
Corporate bonds		32,518		244		(29)		32,733
Total available-for-sale investment securities	$	481,338	$	14,219	$	(143)	$	495,414

	December 31, 2019
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
U.S. Treasury and agencies	$	21,246	$	9	$	(15)	$	21,240
Obligations of state and political agencies		68,162		647		(161)		68,648
Mortgage backed securities
Residential agency		180,411		2,258		(131)		182,538
Commercial		30,752		101		(168)		30,685
Asset backed securities		139		5		—		144
Corporate bonds		7,054		41		—		7,095
Total available-for-sale investment securities	$	307,764	$	3,061	$	(475)	$	310,350

Schedule of investment securities with gross unrealized losses

	September 30, 2020
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
U.S. Treasury and agencies	$	(9)	$	4,694	$	(8)	$	1,309	$	(17)	$	6,003
Obligations of state and political agencies		—		590		—		—		—		590
Mortgage backed securities
Residential agency		(45)		15,481		—		—		(45)		15,481
Commercial		(48)		25,292		(4)		2,603		(52)		27,895
Asset backed securities		—		—		—		2		—		2
Corporate bonds		(29)		5,971		—		—		(29)		5,971
Total available-for-sale investment securities	$	(131)	$	52,028	$	(12)	$	3,914	$	(143)	$	55,942

	December 31, 2019
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
U.S. Treasury and agencies	$	(5)	$	1,740	$	(10)	$	9,990	$	(15)	$	11,730
Obligations of state and political agencies		(140)		11,959		(21)		5,798		(161)		17,757
Mortgage backed securities
Residential agency		(52)		17,131		(79)		14,036		(131)		31,167
Commercial		(116)		15,235		(52)		6,195		(168)		21,430
Asset backed securities		—		2		—		—		—		2
Corporate bonds		—		—		—		—		—		—
Total available-for-sale investment securities	$	(313)	$	46,067	$	(162)	$	36,019	$	(475)	$	82,086

Schedule of contractual maturity of amortized cost and estimated fair value

	Amortized		Fair
(dollars in thousands)	Cost		Value
Due within one year or less	$	16,132	$	16,211
Due after one year through five years		26,821		27,459
Due after five years through ten years		145,310		150,121
Due after 10 years		293,075		301,623
Total available-for-sale investment securities	$	481,338	$	495,414

Schedule of proceeds from the sale of available for sale securities

	Three months ended				Nine months ended
	September 30,				September 30,
(dollars in thousands)	2020		2019		2020		2019
Proceeds	$	35,125	$	10,934	$	74,630	$	32,565
Realized gains		1,428		59		2,722		357
Realized losses		—		(11)		—		(22)

Schedule of federal home loan bank

	September 30,		December 31,
(dollars in thousands)	2020		2019
Federal Reserve	$	2,675	$	2,675
FHLB		3,169		3,080