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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2021 | Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract] |  |
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold | There was no expected credit related impairment recognized on investment securities during the twelve months ended December 31, 2021 and 2020. Prior to 2020, investment securities were evaluated for other-than-temporary impairment. |
Held-to-maturity Securities | Below is an analysis of the amortized cost and fair values of debt securities held to maturity at December 31:
| 2021 |  | 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 2,409 |  |  | $ | 101 |  |  | $ | — |  |  | $ | 2,510 |  |  | $ | 2,766 |  |  | $ | 138 |  |  | $ | — |  |  | $ | 2,904 |
Mortgage-Backed Securities – Commercial | 91,439 |  |  | 305 |  |  | (1,939) |  |  | 89,805 |  |  | 36,799 |  |  | 1,441 |  |  | — |  |  | 38,240 |
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 387,848 |  |  | 2,800 |  |  | (5,758) |  |  | 384,890 |  |  | 277,351 |  |  | 5,389 |  |  | (10) |  |  | 282,730 |
Mortgage-Backed Securities – Commercial | 7,309 |  |  | 148 |  |  | — |  |  | 7,457 |  |  | 9,737 |  |  | 344 |  |  | — |  |  | 10,081 |
Other Government-Sponsored Enterprises | 21,904 |  |  | — |  |  | (625) |  |  | 21,279 |  |  | — |  |  | — |  |  | — |  |  | — |
Obligations of States and Political Subdivisions | 29,402 |  |  | 414 |  |  | (103) |  |  | 29,713 |  |  | 34,391 |  |  | 705 |  |  | — |  |  | 35,096 |
Debt Securities Issued by Foreign Governments | 1,000 |  |  | — |  |  | (3) |  |  | 997 |  |  | 800 |  |  | — |  |  | — |  |  | 800 |
Total Securities Held to Maturity | $ | 541,311 |  |  | $ | 3,768 |  |  | $ | (8,428) |  |  | $ | 536,651 |  |  | $ | 361,844 |  |  | $ | 8,017 |  |  | $ | (10) |  |  | $ | 369,851 |
Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale | Below is an analysis of the amortized cost and fair values of securities available for sale at December 31:
| 2021 |  | 2020
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 5,242 |  |  | $ | 420 |  |  | $ | — |  |  | $ | 5,662 |  |  | $ | 6,492 |  |  | $ | 738 |  |  | $ | — |  |  | $ | 7,230 |
Mortgage-Backed Securities – Commercial | 365,024 |  |  | 1,725 |  |  | (4,459) |  |  | 362,290 |  |  | 182,823 |  |  | 8,357 |  |  | — |  |  | 191,180 |
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 632,687 |  |  | 6,308 |  |  | (9,021) |  |  | 629,974 |  |  | 481,109 |  |  | 14,924 |  |  | — |  |  | 496,033 |
Other Government-Sponsored Enterprises | 1,000 |  |  | — |  |  | (19) |  |  | 981 |  |  | 100,996 |  |  | 2 |  |  | — |  |  | 100,998 |
Obligations of States and Political Subdivisions | 9,538 |  |  | 89 |  |  | (103) |  |  | 9,524 |  |  | 11,154 |  |  | 243 |  |  | — |  |  | 11,397 |
Corporate Securities | 32,088 |  |  | 973 |  |  | (112) |  |  | 32,949 |  |  | 22,941 |  |  | 1,444 |  |  | — |  |  | 24,385 |
Total Securities Available for Sale | $ | 1,045,579 |  |  | $ | 9,515 |  |  | $ | (13,714) |  |  | $ | 1,041,380 |  |  | $ | 805,515 |  |  | $ | 25,708 |  |  | $ | — |  |  | $ | 831,223 |
The amortized cost and estimated fair value of debt securities available for sale at December 31, 2021, by contractual maturity, are shown below:
| Amortized Cost |  | Estimated Fair Value
| (dollars in thousands)
Due within 1 year | $ | — |  |  | $ | — |
Due after 1 but within 5 years | 13,874 |  |  | 14,334 |
Due after 5 but within 10 years | 28,752 |  |  | 29,120 |
Due after 10 years | — |  |  | — |
| 42,626 |  |  | 43,454 |
Mortgage-Backed Securities (a) | 1,002,953 |  |  | 997,926 |
Total Debt Securities | $ | 1,045,579 |  |  | $ | 1,041,380 |
(a)Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale | Mortgage Backed Securities include an amortized cost of $370.3 million and a fair value of $368.0 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $632.7 million and a fair value of $630.0 million |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of debt securities held to maturity at December 31, 2021, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
| Amortized Cost |  | Estimated Fair Value
| (dollars in thousands)
Due within 1 year | $ | 908 |  |  | $ | 918 |
Due after 1 but within 5 years | 7,610 |  |  | 7,653 |
Due after 5 but within 10 years | 43,226 |  |  | 42,846 |
Due after 10 years | 562 |  |  | 572 |
| 52,306 |  |  | 51,989 |
Mortgage-Backed Securities (a) | 489,005 |  |  | 484,662 |
Total Debt Securities | $ | 541,311 |  |  | $ | 536,651 |
(a)Mortgage Backed Securities include an amortized cost of $93.8 million and a fair value of $92.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $395.2 million and a fair value of $392.3 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table presents the gross unrealized losses and estimated fair values at December 31, 2021 for available for sale securities for which an allowance for credit losses has not been recorded and held to maturity securities by investment category and time frame for which the securities have been in a continuous unrealized loss position:
| Less Than 12 Months |  | 12 Months or More |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government Agencies: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Commercial | $ | 320,414 |  |  | $ | (6,398) |  |  | $ | — |  |  | $ | — |  |  | $ | 320,414 |  |  | $ | (6,398) |
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | 658,965 |  |  | (14,779) |  |  | — |  |  | — |  |  | 658,965 |  |  | (14,779) |
Other Government-Sponsored Enterprises | 22,261 |  |  | (644) |  |  | — |  |  | — |  |  | 22,261 |  |  | (644) |
Obligations of States and Political Subdivisions | 11,213 |  |  | (206) |  |  | — |  |  | — |  |  | 11,213 |  |  | (206) |
Debt Securities Issued by Foreign Governments | 997 |  |  | (3) |  |  | — |  |  | — |  |  | 997 |  |  | (3) |
Corporate Securities | 19,013 |  |  | (112) |  |  | — |  |  | — |  |  | 19,013 |  |  | (112) |
Total Securities | $ | 1,032,863 |  |  | $ | (22,142) |  |  | $ | — |  |  | $ | — |  |  | $ | 1,032,863 |  |  | $ | (22,142) |
| The following table presents the gross unrealized losses and estimated fair value at December 31, 2020 for both available for sale and held to maturity securities by investment category and time frame for which the securities had been in a continuous unrealized loss position:
| Less Than 12 Months |  | 12 Months or More |  | Total
| Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
| (dollars in thousands)
Obligations of U.S. Government-Sponsored Enterprises: |  |  |  |  |  |  |  |  |  |  |
Mortgage-Backed Securities – Residential | $ | 3,755 |  |  | $ | (10) |  |  | $ | — |  |  | $ | — |  |  | $ | 3,755 |  |  | $ | (10) |
Total Securities | $ | 3,755 |  |  | $ | (10) |  |  | $ | — |  |  | $ | — |  |  | $ | 3,755 |  |  | $ | (10) |

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27340-111563 + Details
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