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v3.23.1

Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2023
Investment Securities |
Schedule of amortized cost of investment securities to estimated fair values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Allowance for | ​ | Fair
(dollars in thousands) |  | Cost | ​ | Gains | ​ | Losses | ​ | Credit Losses |  | Value
Available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury and agencies | ​ | $ | 3,264 | ​ | $ | 15 | ​ | $ | (12) | ​ | $ | — | ​ | $ | 3,267
Mortgage backed securities | ​ |  |  | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​
Residential agency | ​ |  | 691,334 | ​ |  | 1 | ​ |  | (109,716) | ​ | ​ | — | ​ |  | 581,619
Commercial | ​ |  | 69,011 | ​ |  | — | ​ |  | (6,240) | ​ | ​ | — | ​ |  | 62,771
Asset backed securities | ​ |  | 32 | ​ |  | — | ​ |  | — | ​ | ​ | — | ​ |  | 32
Corporate bonds | ​ |  | 69,499 | ​ |  | — | ​ |  | (11,363) | ​ | ​ | — | ​ |  | 58,136
Total available-for-sale investment securities | ​ | ​ | 833,140 | ​ | ​ | 16 | ​ | ​ | (127,331) | ​ | ​ | — | ​ | ​ | 705,825
Held-to-maturity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Obligations of state and political agencies | ​ | ​ | 132,433 | ​ |  | — | ​ |  | (14,149) | ​ | ​ | 117 | ​ |  | 118,284
Mortgage backed securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential agency | ​ | ​ | 181,438 | ​ |  | — | ​ |  | (31,848) | ​ | ​ | 106 | ​ |  | 149,590
Total held-to-maturity investment securities | ​ | ​ | 313,871 | ​ | ​ | — | ​ | ​ | (45,997) | ​ | ​ | 223 | ​ | ​ | 267,874
Total investment securities | ​ | $ | 1,147,011 | ​ | $ | 16 | ​ | $ | (173,328) | ​ | $ | 223 | ​ | $ | 973,699
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Allowance for | ​ | Fair
(dollars in thousands) |  | Cost | ​ | Gains | ​ | Losses | ​ | Credit Losses |  | Value
Available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury and agencies | ​ | $ | 3,518 | ​ | $ | 19 | ​ | $ | (17) | ​ | ​ | N/A | ​ | $ | 3,520
Mortgage backed securities | ​ |  |  | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  |
Residential agency | ​ |  | 705,845 | ​ |  | 2 | ​ |  | (118,168) | ​ | ​ | N/A | ​ |  | 587,679
Commercial | ​ |  | 70,669 | ​ |  | — | ​ |  | (7,111) | ​ | ​ | N/A | ​ |  | 63,558
Asset backed securities | ​ |  | 34 | ​ |  | — | ​ |  | — | ​ | ​ | N/A | ​ |  | 34
Corporate bonds | ​ |  | 69,501 | ​ |  | — | ​ |  | (6,968) | ​ | ​ | N/A | ​ |  | 62,533
Total available-for-sale investment securities | ​ | ​ | 849,567 | ​ | ​ | 21 | ​ | ​ | (132,264) | ​ | ​ | N/A | ​ | ​ | 717,324
Held-to-maturity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Obligations of state and political agencies | ​ | ​ | 137,787 | ​ |  | — | ​ |  | (17,736) | ​ | ​ | N/A | ​ | ​ | 120,051
Mortgage backed securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential agency | ​ | ​ | 184,115 | ​ |  | — | ​ |  | (33,254) | ​ | ​ | N/A | ​ | ​ | 150,861
Total held-to-maturity investment securities | ​ | ​ | 321,902 | ​ | ​ | — | ​ | ​ | (50,990) | ​ | ​ | N/A | ​ | ​ | 270,912
Total investment securities | ​ | $ | 1,171,469 | ​ | $ | 21 | ​ | $ | (183,254) | ​ | ​ | N/A | ​ | $ | 988,236
​
Schedule of investment securities with gross unrealized losses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
​ | ​ | Less than 12 Months | ​ | Over 12 Months | ​ | Total
​ | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair
(dollars in thousands) |  | Losses |  | Value |  | Losses |  | Value |  | Losses |  | Value
Available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury and agencies | ​ | $ | (12) | ​ | $ | 427 | ​ | $ | — | ​ | $ | — | ​ | $ | (12) | ​ | $ | 427
Mortgage backed securities | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential agency | ​ |  | (63) | ​ |  | 2,575 | ​ |  | (109,653) | ​ |  | 578,913 | ​ |  | (109,716) | ​ |  | 581,488
Commercial | ​ |  | (300) | ​ |  | 4,941 | ​ |  | (5,940) | ​ |  | 57,830 | ​ |  | (6,240) | ​ |  | 62,771
Asset backed securities | ​ |  | — | ​ |  | 30 | ​ |  | — | ​ |  | 2 | ​ |  | — | ​ |  | 32
Corporate bonds | ​ |  | (2,075) | ​ |  | 14,900 | ​ |  | (9,288) | ​ |  | 43,236 | ​ |  | (11,363) | ​ |  | 58,136
Total available-for-sale investment securities | ​ | $ | (2,450) | ​ | $ | 22,873 | ​ | $ | (124,881) | ​ | $ | 679,981 | ​ | $ | (127,331) | ​ | $ | 702,854
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Less than 12 Months | ​ | Over 12 Months | ​ | Total
​ | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair | ​ | Unrealized | ​ | Fair
(dollars in thousands) |  | Losses |  | Value |  | Losses |  | Value |  | Losses |  | Value
Available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury and agencies | ​ | $ | (17) | ​ | $ | 509 | ​ | $ | — | ​ | $ | — | ​ | $ | (17) | ​ | $ | 509
Mortgage backed securities | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential agency | ​ |  | (10,457) | ​ |  | 79,693 | ​ |  | (107,711) | ​ |  | 507,418 | ​ |  | (118,168) | ​ |  | 587,111
Commercial | ​ |  | (4,835) | ​ |  | 50,437 | ​ |  | (2,276) | ​ |  | 13,120 | ​ |  | (7,111) | ​ |  | 63,557
Asset backed securities | ​ |  | — | ​ |  | 32 | ​ |  | — | ​ |  | 2 | ​ |  | — | ​ |  | 34
Corporate bonds | ​ |  | (4,452) | ​ |  | 48,048 | ​ |  | (2,516) | ​ |  | 14,484 | ​ |  | (6,968) | ​ |  | 62,532
Total available-for-sale investment securities | ​ | ​ | (19,761) | ​ | ​ | 178,719 | ​ | ​ | (112,503) | ​ | ​ | 535,024 | ​ | ​ | (132,264) | ​ | ​ | 713,743
Held-to-maturity | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Obligations of state and political agencies | ​ | ​ | (3,336) | ​ | ​ | 18,788 | ​ | ​ | (14,400) | ​ | ​ | 98,762 | ​ | ​ | (17,736) | ​ | ​ | 117,550
Mortgage backed securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential agency | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (33,254) | ​ | ​ | 150,861 | ​ | ​ | (33,254) | ​ | ​ | 150,861
Total held-to-maturity investment securities | ​ | ​ | (3,336) | ​ | ​ | 18,788 | ​ | ​ | (47,654) | ​ | ​ | 249,623 | ​ | ​ | (50,990) | ​ | ​ | 268,411
Total investment securities | ​ | $ | (23,097) | ​ | $ | 197,507 | ​ | $ | (160,157) | ​ | $ | 784,647 | ​ | $ | (183,254) | ​ | $ | 982,154
​
Schedule of contractual maturity of amortized cost and estimated fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Held-to-maturity | ​ | Available-for-sale
​ | ​ | Carrying | ​ | Fair | ​ | Amortized | ​ | Fair
(dollars in thousands) |  | Value | ​ | Value | ​ | Cost |  | Value
Due within one year or less | ​ | $ | 5,797 | ​ | $ | 5,692 | ​ | $ | — | ​ | $ | —
Due after one year through five years | ​ |  | 40,296 | ​ |  | 37,454 | ​ |  | 17,549 | ​ |  | 16,463
Due after five years through ten years | ​ |  | 69,945 | ​ |  | 60,959 | ​ |  | 78,819 | ​ |  | 66,742
Due after 10 years | ​ |  | 16,395 | ​ |  | 14,179 | ​ |  | 45,438 | ​ |  | 41,001
​ | ​ | ​ | 132,433 | ​ | ​ | 118,284 | ​ | ​ | 141,806 | ​ | ​ | 124,206
Mortgage-backed securities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential agency | ​ | ​ | 181,438 | ​ | ​ | 149,590 | ​ | ​ | 691,334 | ​ | ​ | 581,619
Total investment securities | ​ | $ | 313,871 | ​ | $ | 267,874 | ​ | $ | 833,140 | ​ | $ | 705,825
​
Schedule of proceeds from the call of held-to-maturity investment securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended
​ | ​ | March 31,
(dollars in thousands) |  | 2023 |  | 2022
Proceeds | ​ | $ | 126 | ​ | $ | 515
Realized gains | ​ |  | — | ​ |  | —
Realized losses | ​ |  | — | ​ |  | —
​
Schedule of federal home loan bank | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
(dollars in thousands) |  | 2023 |  | 2022
Federal Reserve | ​ | $ | 4,623 | ​ | $ | 4,595
FHLB | ​ |  | 19,587 | ​ |  | 19,362
​

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale and held-to-maturity), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References No definition available. + Details
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- Definition Tabular disclosure of the proceeds from sales or calls of held-to-maturity securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References No definition available. + Details
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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
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