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v3.22.2

Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 and December 31, 2021 are as follows:
(Dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | $ | 34,475 |  |  | $ | 76 |  |  | $ | 525 |  |  | $ | 34,026 |
Mortgage-backed U.S. government agencies |  |  | 166,321 |  |  |  | 40 |  |  |  | 10,928 |  |  |  | 155,433 |
State and political subdivision obligations |  |  | 4,366 |  |  |  | — |  |  |  | 697 |  |  |  | 3,669 |
Corporate debt securities |  |  | 26,570 |  |  |  | — |  |  |  | 1,000 |  |  |  | 25,570 |
Total available-for-sale debt securities |  |  | 231,732 |  |  |  | 116 |  |  |  | 13,150 |  |  |  | 218,698 |
Held-to-maturity debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | $ | 239,605 |  |  | $ | 28 |  |  | $ | 21,516 |  |  | $ | 218,117 |
Mortgage-backed U.S. government agencies |  |  | 55,180 |  |  |  | 1 |  |  |  | 4,857 |  |  |  | 50,324 |
State and political subdivision obligations |  |  | 88,250 |  |  |  | 68 |  |  |  | 6,673 |  |  |  | 81,645 |
Corporate debt securities |  |  | 15,997 |  |  |  | 1 |  |  |  | 796 |  |  |  | 15,202 |
Total held-to-maturity debt securities |  |  | 399,032 |  |  |  | 98 |  |  |  | 33,842 |  |  |  | 365,288 |
Total |  | $ | 630,764 |  |  | $ | 214 |  |  | $ | 46,992 |  |  | $ | 583,986 |
(Dollars in thousands) |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed U.S. government agencies |  | $ | 49,760 |  |  | $ | 3 |  |  | $ | 283 |  |  | $ | 49,480 |
State and political subdivision obligations |  |  | 3,899 |  |  |  | 26 |  |  |  | 11 |  |  |  | 3,914 |
Corporate debt securities |  |  | 9,525 |  |  |  | — |  |  |  | 57 |  |  |  | 9,468 |
Total available-for-sale debt securities |  |  | 63,184 |  |  |  | 29 |  |  |  | 351 |  |  |  | 62,862 |
Held-to-maturity debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | $ | 178,136 |  |  | $ | 26 |  |  | $ | 1,165 |  |  | $ | 176,997 |
Mortgage-backed U.S. government agencies |  |  | 61,157 |  |  |  | 440 |  |  |  | 272 |  |  |  | 61,325 |
State and political subdivision obligations |  |  | 75,958 |  |  |  | 2,305 |  |  |  | 27 |  |  |  | 78,236 |
Corporate debt securities |  |  | 14,006 |  |  |  | 133 |  |  |  | 71 |  |  |  | 14,068 |
Total held-to-maturity debt securities |  |  | 329,257 |  |  |  | 2,904 |  |  |  | 1,535 |  |  |  | 330,626 |
Total |  | $ | 392,441 |  |  | $ | 2,933 |  |  | $ | 1,886 |  |  | $ | 393,488 |
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, 2022 and December 31, 2021.
(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, 2022 |  | Securities |  | Value |  |  | Losses |  |  | Securities |  | Value |  |  | Losses |  |  | Securities |  | Value |  |  | Losses |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | 11 |  | $ | 18,476 |  |  | $ | 525 |  |  | 0 |  | $ | — |  |  | $ | — |  |  | 11 |  | $ | 18,476 |  |  | $ | 525 |
Mortgage-backed U.S. government agencies |  | 83 |  |  | 146,413 |  |  |  | 10,928 |  |  | 0 |  |  | — |  |  |  | — |  |  | 83 |  |  | 146,413 |  |  |  | 10,928 |
State and political subdivision obligations |  | 8 |  |  | 3,669 |  |  |  | 697 |  |  | 0 |  |  | — |  |  |  | — |  |  | 8 |  |  | 3,669 |  |  |  | 697 |
Corporate debt securities |  | 13 |  |  | 21,319 |  |  |  | 1,000 |  |  | 0 |  |  | — |  |  |  | — |  |  | 13 |  |  | 21,319 |  |  |  | 1,000 |
Total temporarily impaired available-for-sale debt securities |  | 115 |  | $ | 189,877 |  |  | $ | 13,150 |  |  | 0 |  | $ | — |  |  | $ | — |  |  | 115 |  | $ | 189,877 |  |  | $ | 13,150 |
Held-to-maturity debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | 134 |  | $ | 205,184 |  |  | $ | 20,366 |  |  | 5 |  | $ | 7,345 |  |  | $ | 1,150 |  |  | 139 |  | $ | 212,529 |  |  | $ | 21,516 |
Mortgage-backed U.S. government agencies |  | 64 |  |  | 50,323 |  |  |  | 4,857 |  |  | 0 |  |  | — |  |  |  | — |  |  | 64 |  |  | 50,323 |  |  |  | 4,857 |
State and political subdivision obligations |  | 168 |  |  | 68,551 |  |  |  | 6,548 |  |  | 4 |  |  | 815 |  |  |  | 125 |  |  | 172 |  |  | 69,366 |  |  |  | 6,673 |
Corporate debt securities |  | 3 |  |  | 4,784 |  |  |  | 272 |  |  | 4 |  |  | 4,475 |  |  |  | 524 |  |  | 7 |  |  | 9,259 |  |  |  | 796 |
Total temporarily impaired held-to-maturity debt securities |  | 369 |  |  | 328,842 |  |  |  | 32,043 |  |  | 13 |  |  | 12,635 |  |  |  | 1,799 |  |  | 382 |  |  | 341,477 |  |  |  | 33,842 |
Total |  | 484 |  | $ | 518,719 |  |  | $ | 45,193 |  |  | 13 |  | $ | 12,635 |  |  | $ | 1,799 |  |  | 497 |  | $ | 531,354 |  |  | $ | 46,992 |
(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, 2021 |  | Securities |  | Value |  |  | Losses |  |  | Securities |  | Value |  | Losses |  |  | Securities |  | Value |  |  | Losses |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | 24 |  | $ | 45,476 |  |  | $ | 283 |  |  | 0 |  | $ | — |  |  | $ | — |  |  | 24 |  | $ | 45,476 |  |  | $ | 283 |
State and political subdivision obligations |  | 2 |  |  | 1,168 |  |  |  | 11 |  |  | 0 |  |  | — |  |  |  | — |  |  | 2 |  |  | 1,168 |  |  |  | 11 |
Corporate debt securities |  | 4 |  |  | 4,943 |  |  |  | 57 |  |  | 0 |  |  | — |  |  |  | — |  |  | 4 |  |  | 4,943 |  |  |  | 57 |
Total temporarily impaired available-for-sale securities |  | 30 |  |  | 51,587 |  |  |  | 351 |  |  | 0 |  |  | — |  |  |  | — |  |  | 30 |  |  | 51,587 |  |  |  | 351 |
Held-to-maturity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and U.S. government agencies |  | 91 |  | $ | 149,425 |  |  | $ | 1,165 |  |  | 0 |  | $ | — |  |  | $ | — |  |  | 91 |  | $ | 149,425 |  |  | $ | 1,165 |
Mortgage-backed U.S. government agencies |  | 24 |  |  | 39,995 |  |  |  | 272 |  |  | 0 |  |  | — |  |  |  | — |  |  | 24 |  |  | 39,995 |  |  |  | 272 |
State and political subdivision obligations |  | 17 |  |  | 5,302 |  |  |  | 25 |  |  | 1 |  |  | 255 |  |  |  | 2 |  |  | 18 |  |  | 5,557 |  |  |  | 27 |
Corporate debt securities |  | 6 |  |  | 6,928 |  |  |  | 71 |  |  | 0 |  |  | — |  |  |  | — |  |  | 6 |  |  | 6,928 |  |  |  | 71 |
Total temporarily impaired held to maturity securities |  | 138 |  |  | 201,650 |  |  |  | 1,533 |  |  | 1 |  |  | 255 |  |  |  | 2 |  |  | 139 |  |  | 201,905 |  |  |  | 1,535 |
Total |  | 168 |  | $ | 253,237 |  |  | $ | 1,884 |  |  | 1 |  | $ | 255 |  |  | $ | 2 |  |  | 169 |  | $ | 253,492 |  |  | $ | 1,886 |
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, 2022.
(Dollars in thousands) |  | Available-for-sale |  |  | Held-to-maturity |
|  | Amortized |  |  | Fair |  |  | Amortized |  |  | Fair |
June 30, 2022 |  | Cost |  |  | Value |  |  | Cost |  |  | Value |
Due in 1 year or less |  | $ | 250 |  |  | $ | 250 |  |  | $ | 450 |  |  | $ | 451 |
Due after 1 year but within 5 years |  |  | 32,976 |  |  |  | 32,649 |  |  |  | 69,605 |  |  |  | 67,815 |
Due after 5 years but within 10 years |  |  | 28,121 |  |  |  | 26,955 |  |  |  | 230,019 |  |  |  | 209,494 |
Due after 10 years |  |  | 4,064 |  |  |  | 3,411 |  |  |  | 43,778 |  |  |  | 37,204 |
|  |  | 65,411 |  |  |  | 63,265 |  |  |  | 343,852 |  |  |  | 314,964 |
Mortgage-backed securities |  |  | 166,321 |  |  |  | 155,433 |  |  |  | 55,180 |  |  |  | 50,324 |
|  | $ | 231,732 |  |  | $ | 218,698 |  |  | $ | 399,032 |  |  | $ | 365,288 |

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