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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2021

Securities Financing Transactions Disclosures [Abstract]

Unrealized Gain (Loss) on Investments

The amortized cost, fair value, and unrealized gains and losses on investment securities at June 30, 2021 and December 31, 2020 are as follows:

(Dollars in thousands)		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
June 30, 2021
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies		$	2			$	—			$	—			$	2
Corporate debt securities			8,136				24				—				8,160
Total available-for-sale debt securities			8,138				24				—				8,162
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		$	42,166			$	59			$	150			$	42,075
Mortgage-backed U.S. government agencies			31,210				775				1				31,984
State and political subdivision obligations			67,142				2,774				21				69,895
Corporate debt securities			12,514				180				69				12,625
Total held-to-maturity debt securities			153,032				3,788				241				156,579
Total		$	161,170			$	3,812			$	241			$	164,741

(Dollars in thousands)		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
December 31, 2020
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies		$	2			$	—			$	—			$	2
Corporate debt securities			5,750				—				4				5,746
Total available-for-sale debt securities			5,752				—				4				5,748
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		$	11,511			$	66			$	—			$	11,577
Mortgage-backed U.S. government agencies			40,810				948				15				41,743
State and political subdivision obligations			65,449				3,295				6				68,738
Corporate debt securities			10,522				215				1				10,736
Total held-to-maturity debt securities			128,292				4,524				22				132,794
Total		$	134,044			$	4,524			$	26			$	138,542

Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position

The following tables present gross unrealized losses and fair value of debt security investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2021 and December 31, 2020. As of June 30, 2021, Mid Penn held no available-for-sale securities in an unrealized loss position.

(Dollars in thousands)		Less Than 12 Months										12 Months or More										Total
		Number										Number										Number
		of		Fair				Unrealized				of		Fair				Unrealized				of		Fair				Unrealized
June 30, 2021		Securities		Value				Losses				Securities		Value				Losses				Securities		Value				Losses
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		7		$	9,595			$	150			0		$	—			$	—			7		$	9,595			$	150
Mortgage-backed U.S. government agencies		2			735				1			0			—				—			2			735				1
State and political subdivision obligations		10			2,426				21			0			—				—			10			2,426				21
Corporate debt securities		6			6,930				69			0			—				—			6			6,930				69
Total temporarily impaired held-to-maturity debt securities		25		$	19,686			$	241			0		$	—			$	—			25		$	19,686			$	241
Total		25		$	19,686			$	241			0		$	—			$	—			25		$	19,686			$	241

(Dollars in thousands)		Less Than 12 Months										12 Months or More										Total
		Number										Number										Number
		of		Fair				Unrealized				of		Fair			Unrealized					of		Fair				Unrealized
December 31, 2020		Securities		Value				Losses				Securities		Value			Losses					Securities		Value				Losses
Available-for-sale securities:
Corporate debt securities		2		$	3,497			$	4			0		$	—			$	—			2		$	3,497			$	4
Total temporarily impaired available-for-sale securities		2		$	3,497			$	4			0		$	—			$	—			2		$	3,497			$	4
Held-to-maturity securities:
Mortgage-backed U.S. government agencies		8		$	5,336			$	15			0		$	—			$	—			8		$	5,336			$	15
State and political subdivision obligations		2			801				6			0			—				—			2			801				6
Corporate debt securities		1			449				1			0			—				—			1			449				1
Total temporarily impaired held to maturity securities		11		$	6,586			$	22			0		$	—			$	—			11		$	6,586			$	22
Total		13		$	10,083			$	26			0		$	—			$	—			13		$	10,083			$	26

Schedule of Gross Realized Gains (Losses) on Sales of Available-For-Sale Debt Securities

Gross realized gains and losses on sales of available-for-sale debt securities for the three and six months ended June 30, 2021 and 2020 are shown in the table below.  No sales of available-for-sale securities were executed during the three and six months ended June 30, 2021.

(Dollars in thousands)	Three Months Ended June 30,										Six Months Ended June 30,
	2021					2020					2021					2020
Realized gains		$	—				$	118				$	—				$	255
Realized losses			—					(7	)				—					(12	)
Net gains		$	—				$	111				$	—				$	243

Investments Classified by Contractual Maturity Date

The table below illustrates the maturity distribution of investment securities at amortized cost and fair value as of June 30, 2021.

(Dollars in thousands)		Available-for-sale								Held-to-maturity
		Amortized				Fair				Amortized				Fair
June 30, 2021		Cost				Value				Cost				Value
Due in 1 year or less		$	—			$	—			$	3,888			$	3,934
Due after 1 year but within 5 years			3,250				3,252				38,391				40,096
Due after 5 years but within 10 years			4,886				4,908				79,543				80,564
Due after 10 years			—				—				—				—
			8,136				8,160				121,822				124,594
Mortgage-backed securities			2				2				31,210				31,985
		$	8,138			$	8,162			$	153,032			$	156,579

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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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