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Investment Securities (Tables)
9 Months Ended
Sep. 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 September 30, 2022 and December 31, 2021 are as follows:
(Dollars in thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
September 30, 2022
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$39,511 $— $1,927 $37,584 
Mortgage-backed U.S. government agencies187,757 — 19,553 168,204 
State and political subdivision obligations4,360 — 986 3,374 
Corporate debt securities35,468 — 2,435 33,033 
Total available-for-sale debt securities267,096 — 24,901 242,195 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies$245,638 $$36,102 $209,539 
Mortgage-backed U.S. government agencies52,788 — 7,325 45,463 
State and political subdivision obligations87,724 — 10,951 76,773 
Corporate debt securities15,992 — 1,142 14,850 
Total held-to-maturity debt securities402,142 55,520 346,625 
Total$669,238 $$80,421 $588,820 
(Dollars in thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
December 31, 2021
Available-for-sale debt securities:
Mortgage-backed U.S. government agencies$49,760 $$283 $49,480 
State and political subdivision obligations3,899 26 11 3,914 
Corporate debt securities9,525 — 57 9,468 
Total available-for-sale debt securities63,184 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 agencies61,157 440 272 61,325 
State and political subdivision obligations75,958 2,305 27 78,236 
Corporate debt securities14,006 133 71 14,068 
Total held-to-maturity debt securities329,257 2,904 1,535 330,626 
Total$392,441 $2,933 $1,886 $393,488 
Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position
The following tables present gross unrealized losses and fair value of debt security investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2022 and December 31, 2021.
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
September 30, 2022Number
of
Securities
Fair
Value
Unrealized
Losses
Number
of
Securities
Fair
Value
Unrealized
Losses
Number
of
Securities
Fair
Value
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$— $— 20$37,584 $1,927 20$37,584 $1,927 
Mortgage-backed U.S. government agencies— — 91164,216 19,553 91164,216 19,553 
State and political subdivision obligations— — 83,374 986 83,374 986 
Corporate debt securities32,523 477 1427,260 1,958 1729,783 2,435 
Total temporarily impaired available-for-sale debt securities3$2,523 $477 133$232,434 $24,424 136$234,957 $24,901 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies25$30,523 $7,405 119$177,014 $28,697 144$207,537 $36,102 
Mortgage-backed U.S. government agencies1316 43 6345,147 7,282 6445,463 7,325 
State and political subdivision obligations122,338 535 19474,435 10,416 20676,773 10,951 
Corporate debt securities55,156 844 34,753 298 89,909 1,142 
Total temporarily impaired held-to-maturity debt securities4338,333 8,827 379301,349 46,693 422339,682 55,520 
Total46$40,856 $9,304 512$533,783 $71,117 558$574,639 $80,421 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2021Number
of
Securities
Fair
Value
Unrealized
Losses
Number
of
Securities
Fair
Value
Unrealized
Losses
Number
of
Securities
Fair
Value
Unrealized
Losses
Available-for-sale securities:
U.S. government agencies24$45,476 $283 $— $— 24$45,476 $283 
State and political subdivision obligations21,168 11 — — 21,168 11 
Corporate debt securities44,943 57 — — 44,943 57 
Total temporarily impaired available-for-sale securities30$51,587 $351 $— $— 30$51,587 $351 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies91$149,425 $1,165 $— $— 91$149,425 $1,165 
Mortgage-backed U.S. government agencies2439,995 272 — — 2439,995 272 
State and political subdivision obligations175,302 25 1255 185,557 27 
Corporate debt securities66,928 71 — — 66,928 71 
Total temporarily impaired held to maturity securities138201,650 1,533 1255 139201,905 1,535 
Total168$253,237 $1,884 1$255 $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 September 30, 2022.
(Dollars in thousands)Available-for-saleHeld-to-maturity
September 30, 2022Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in 1 year or less$250 $250 $— $— 
Due after 1 year but within 5 years40,013 38,602 73,579 69,250 
Due after 5 years but within 10 years35,017 32,006 232,023 197,794 
Due after 10 years4,059 3,133 43,752 34,118 
79,339 73,991 349,354 301,162 
Mortgage-backed securities187,757 168,204 52,788 45,463 
$267,096 $242,195 $402,142 $346,625