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Investment Securities (Tables)

9 Months Ended

Sep. 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 September 30, 2021 and December 31, 2020 are as follows:

(Dollars in thousands)		Amortized				Unrealized				Unrealized				Fair
		Cost				Gains				Losses				Value
September 30, 2021
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies		$	2			$	—			$	—			$	2
Corporate debt securities			5,031				—				18				5,013
Total available-for-sale debt securities			5,033				—				18				5,015
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		$	43,732			$	24			$	334			$	43,422
Mortgage-backed U.S. government agencies			27,799				690				3				28,486
State and political subdivision obligations			67,251				2,475				39				69,687
Corporate debt securities			14,009				151				75				14,085
Total held-to-maturity debt securities			152,791				3,340				451				155,680
Total		$	157,824			$	3,340			$	469			$	160,695

(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 September 30, 2021 and December 31, 2020.  

(Dollars in thousands)		Less Than 12 Months										12 Months or More										Total
		Number										Number										Number
		of		Fair				Unrealized				of		Fair				Unrealized				of		Fair				Unrealized
September 30, 2021		Securities		Value				Losses				Securities		Value				Losses				Securities		Value				Losses
Available-for-sale debt securities:
Corporate debt securities		3		$	2,982			$	18			0		$	—			$	—			3		$	2,982			$	18
Total temporarily impaired available-for-sale debt securities		3		$	2,982			$	18			0		$	—			$	—			3		$	2,982			$	18
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies		25		$	37,598			$	334			0		$	—			$	—			25		$	37,598			$	334
Mortgage-backed U.S. government agencies		2			566				3			0			—				—			2			566				3
State and political subdivision obligations		14			3,849				32			1			250				7			15			4,099				39
Corporate debt securities		5			5,924				75			0			—				—			5			5,924				75
Total temporarily impaired held-to-maturity debt securities		46			47,937				444			1			250				7			47			48,187				451
Total		49		$	50,919			$	462			1		$	250			$	7			50		$	51,169			$	469

(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 nine months ended September 30, 2021 and 2020 are shown in the table below.   

(Dollars in thousands)	Three Months Ended September 30,										Nine Months Ended September 30,
	2021					2020					2021					2020
Realized gains		$	79				$	150				$	79				$	405
Realized losses			—					—					—					(12	)
Net gains		$	79				$	150				$	79				$	393

Investments Classified by Contractual Maturity Date

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

(Dollars in thousands)		Available-for-sale								Held-to-maturity
		Amortized				Fair				Amortized				Fair
September 30, 2021		Cost				Value				Cost				Value
Due in 1 year or less		$	—			$	—			$	3,891			$	3,920
Due after 1 year but within 5 years			1,250				1,247				35,364				36,900
Due after 5 years but within 10 years			3,781				3,766				85,737				86,374
Due after 10 years			—				—				—				—
			5,031				5,013				124,992				127,194
Mortgage-backed securities			2				2				27,799				28,486
		$	5,033			$	5,015			$	152,791			$	155,680

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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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