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Securities (Tables)

9 Months Ended

Sep. 30, 2022

Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation


		September 30, 2022
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
Available-for-sale:		Cost			Gains			Losses			Value
U.S. Treasury		$	242,018		$	—		$	(20,242)		$	221,776
U.S. Government-sponsored enterprises (GSEs)			1,650			—			(17)			1,633
Municipal securities			55,422			3			(1,308)			54,117
Other debt securities			30,967			—			(2,126)			28,841
Mortgage-backed securities (GSEs)			241,531			1			(28,176)			213,356
Total		$	571,588		$	4		$	(51,869)		$	519,723


		September 30, 2022
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
Held-to-maturity:		Cost			Gains			Losses			Value
U.S. Treasury		$	150,353		$	—		$	(6,095)		$	144,258
U.S. Government-sponsored enterprises (GSEs)			50,838			—			(8,735)			42,103
Municipal securities			53,935			—			(10,330)			43,605
Mortgage-backed securities (GSEs)			31,978			—			(4,968)			27,010
Total		$	287,104		$	—		$	(30,128)		$	256,976


		December 31, 2021
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
Available-for-sale:		Cost			Gains			Losses			Value
U.S. Treasury		$	138,212		$	64		$	(518)		$	137,758
U.S. Government-sponsored enterprises (GSEs)			21,898			76			(173)			21,801
Municipal securities			67,310			512			(2)			67,820
Other debt securities			26,989			313			(82)			27,220
Mortgage-backed securities (GSEs)			228,011			971			(1,128)			227,854
Total		$	482,420		$	1,936		$	(1,903)		$	482,453


		December 31, 2021
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
Held-to-maturity:		Cost			Gains			Losses			Value
U.S. Government-sponsored enterprises (GSEs)		$	31,023		$	20		$	(87)		$	30,956
Municipal securities			45,946			63			(19)			45,990
Total		$	76,969		$	83		$	(106)		$	76,946

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of securities at September 30, 2022 by contractual maturity for non-mortgage backed securities are shown below (in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


		September 30, 2022
		Amortized			Fair
Available-for-sale:		Cost			Value
Due in one year or less		$	270		$	270
Due from one year to five years			202,625			188,431
Due from five years to ten years			80,375			71,663
Due after ten years			46,787			46,003
			330,057			306,367
Mortgage-backed securities			241,531			213,356
Total		$	571,588		$	519,723

Held-to-maturity:
Due in one year or less		$	—		$	—
Due from one year to five years			150,353			144,257
Due from five years to ten years			38,311			32,465
Due after ten years			66,462			53,244
			255,126			229,966
Mortgage-backed securities			31,978			27,010
Total		$	287,104		$	256,976

Schedule of Unrealized Loss on Investments

The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale and held-to-maturity have been in a continuous unrealized loss position (in thousands):


		September 30, 2022
		Less than 12 Months								12 Months or Greater								Total
					Gross			Number					Gross			Number					Gross			Number
		Fair			Unrealized			of		Fair			Unrealized			of		Fair			Unrealized			of
Available-for-sale:		Value			Losses			Securities		Value			Losses			Securities		Value			Losses			Securities
U.S. Treasury		$	207,805		$	(17,749)		18		$	13,972		$	(2,493)		2		$	221,777		$	(20,242)		20
U.S. Government-sponsored enterprises (GSEs)			1,267			(13)		1			366			(4)		2			1,633			(17)		3
Municipal securities			53,565			(1,308)		43			—			—		—			53,565			(1,308)		43
Other debt securities			25,975			(1,877)		22			2,865			(249)		3			28,840			(2,126)		25
Mortgage-backed securities (GSEs)			198,452			(26,983)		102			14,833			(1,193)		14			213,285			(28,176)		116
Total		$	487,064		$	(47,930)		186		$	32,036		$	(3,939)		21		$	519,100		$	(51,869)		207

		September 30, 2022
		Less than 12 Months								12 Months or Greater								Total
					Gross			Number					Gross			Number					Gross			Number
		Fair			Unrealized			of		Fair			Unrealized			of		Fair			Unrealized			of
Held-to-maturity:		Value			Losses			Securities		Value			Losses			Securities		Value			Losses			Securities
U.S. Treasury		$	144,257		$	(6,095)		4		$	—		$	—		—		$	144,257		$	(6,095)		4
U.S. Government-sponsored enterprises (GSEs)			19,613			(3,763)		5			22,491			(4,972)		8			42,104			(8,735)		13
Municipal securities			43,149			(10,233)		34			455			(97)		1			43,604			(10,330)		35
Mortgage-backed securities (GSEs)			27,010			(4,968)		5			—			—		—			27,010			(4,968)		5
Total		$	234,029		$	(25,059)		48		$	22,946		$	(5,069)		9		$	256,975		$	(30,128)		57


		December 31, 2021
		Less than 12 Months								12 Months or Greater								Total
					Gross			Number					Gross			Number					Gross			Number
		Fair			Unrealized			of		Fair			Unrealized			of		Fair			Unrealized			of
Available-for-sale:		Value			Losses			Securities		Value			Losses			Securities		Value			Losses			Securities
U.S. Treasury		$	99,959		$	(518)		11		$	—		$	—		—		$	99,959		$	(518)		11
U.S. Government-sponsored enterprises (GSEs)			14,156			(168)		2			579			(5)		2			14,735			(173)		4
Municipal securities			2,519			(2)		1			—			—		—			2,519			(2)		1
Other debt securities			5,983			(82)		6			—			—		—			5,983			(82)		6
Mortgage-backed securities (GSEs)			159,725			(1,002)		31			8,233			(126)		6			167,958			(1,128)		37
Total		$	282,342		$	(1,772)		51		$	8,812		$	(131)		8		$	291,154		$	(1,903)		59

		December 31, 2021
		Less than 12 Months								12 Months or Greater								Total
					Gross			Number					Gross			Number					Gross			Number
		Fair			Unrealized			of		Fair			Unrealized			of		Fair			Unrealized			of
Held-to-maturity:		Value			Losses			Securities		Value			Losses			Securities		Value			Losses			Securities
U.S. Government-sponsored enterprises (GSEs)		$	21,901		$	(87)		8		$	—		$	—		—		$	21,901		$	(87)		8
Municipal securities			4,173			(19)		6			—			—		—			4,173			(19)		6
Total		$	26,074		$	(106)		14		$	—		$	—		—		$	26,074		$	(106)		14

Schedule of Other Investments

The following is the amortized cost and carrying value of other investments (in thousands):


		September 30,			December 31,
		2022			2021
Federal Reserve Bank stock		$	9,781		$	9,693
Federal Home Loan Bank stock			5,397			6,451
First National Bankers Bank stock			350			350
Total		$	15,528		$	16,494