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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2022
Securities Financing Transactions Disclosures [Abstract]  
Unrealized Gain (Loss) on Investments
The amortized cost and fair value on investment securities as of December 31 are as follows:
(In thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
2022
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$36,528 $ $1,614 $34,914 
Mortgage-backed U.S. government agencies185,993  19,078 166,915 
State and political subdivision obligations4,354  815 3,539 
Corporate debt securities35,467  2,957 32,510 
Total available-for-sale debt securities$262,342 $ $24,464 $237,878 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies$245,671 $ $34,834 $210,837 
Mortgage-backed U.S. government agencies50,710  6,676 44,034 
State and political subdivision obligations87,125  8,345 78,780 
Corporate debt securities15,988  1,134 14,854 
Total held-to-maturity debt securities399,494  50,989 348,505 
Total$661,836 $ $75,453 $586,383 
(In thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair
Value
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 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 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 Investments in a Continuous Unrealized Loss Position
The following table presents gross unrealized losses and fair value of investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 and 2021.
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 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 agencies19$34,914 $1,614 $ $ 19$34,914 $1,614 
Mortgage-backed U.S. government agencies69131,879 11,876 2435,036 7,202 93166,915 19,078 
State and political subdivision obligations62,521 671 21,018 144 83,539 815 
Corporate debt securities1225,063 2,153 44,196 804 1629,259 2,957 
Total available-for-sale debt securities106194,377 16,314 3040,250 8,150 136234,627 24,464 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies5484,946 10,093 91125,891 24,741 145210,837 34,834 
Mortgage-backed U.S. government agencies4013,866 1,071 2430,168 5,605 6444,034 6,676 
State and political subdivision obligations18573,735 7,413 184,616 932 20378,351 8,345 
Corporate debt securities45,721 317 55,182 817 910,903 1,134 
Total held-to-maturity debt securities283178,268 18,894 138165,857 32,095 421344,125 50,989 
Total389$372,645 $35,208 168$206,107 $40,245 557$578,752 $75,453 
(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 available-for-sale securities3051,587 351 — — 3051,587 351 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies91149,425 1,165 — — 91149,425 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 held to maturity securities138201,650 1,533 1255 139201,905 1,535 
Total168$253,237 $1,884 1$255 $2 169$253,492 $1,886 
Schedule of Gross Realized Gains (Losses) on Sales of Available-For-Sale Securities
The following table presents information related to gross realized gains and losses on sales of AFS securities:
For the year ended December 31,
(In thousands)202220212020
Gross realized gains$ $79 $479 
Gross realized losses — (12)
Net gains$ $79 $467 
Investments Classified by Contractual Maturity Date
The table below illustrates the maturity distribution of investment securities at amortized cost and fair value at December 31, 2022.
(In thousands)Available-for-saleHeld-to-maturity
December 31, 2022Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in 1 year or less$250 $250 $3,745 $3,719 
Due after 1 year but within 5 years41,289 39,865 87,184 81,927 
Due after 5 years but within 10 years31,942 28,555 214,469 183,635 
Due after 10 years2,868 2,293 43,386 35,190 
76,349 70,963 348,784 304,471 
Mortgage-backed securities185,993 166,915 50,710 44,034 
$262,342 $237,878 $399,494 $348,505