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Investment securities | 12 Months Ended
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Dec. 31, 2022
Investment securities |
Investment securities | 3. Investment securities: The amortized cost and fair value of investment securities aggregated by investment category at December 31, 2022 and 2021 are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair |
(Dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value |
Available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 199,937 | ​ | $ | ​ | ​ | $ | 19,640 | ​ | $ | 180,297 | ​
U.S. government-sponsored enterprises | ​ | ​ | 16,955 | ​ | ​ | ​ | ​ | ​ | 585 | ​ | ​ | 16,370 | ​
State and municipals: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxable | ​ |  | 68,946 | ​ | ​ | ​ | ​ | ​ | 13,588 | ​ |  | 55,358 | ​
Tax-exempt | ​ |  | 99,774 | ​ |  | 93 | ​ | ​ | 11,460 | ​ |  | 88,407 | ​
Residential mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ |  | 982 | ​ |  | ​ | ​ | ​ | 40 | ​ |  | 942 | ​
U.S. government-sponsored enterprises | ​ |  | 141,231 | ​ |  | ​ | ​ |  | 20,112 | ​ |  | 121,119 | ​
Commercial mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government-sponsored enterprises | ​ |  | 12,128 | ​ |  | ​ | ​ |  | 544 | ​ |  | 11,584 | ​
Corporate debt securities | ​ | ​ | 4,000 | ​ | ​ | ​ | ​ | ​ | 374 | ​ | ​ | 3,626 | ​
Total | ​ | $ | 543,953 | ​ | $ | 93 | ​ | $ | 66,343 | ​ | $ | 477,703 | ​
Held-to-maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax-exempt state and municipals | ​ | $ | 11,237 | ​ | $ | 1 | ​ | $ | 841 | ​ | $ | 10,397 | ​
Residential mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ |  | 17,304 | ​ |  | ​ | ​ | ​ | 3,016 | ​ |  | 14,288 | ​
U.S. government-sponsored enterprises | ​ |  | 62,638 | ​ |  | ​ | ​ | ​ | 10,760 | ​ |  | 51,878 | ​
Total | ​ | $ | 91,179 | ​ | $ | 1 | ​ | $ | 14,617 | ​ | $ | 76,563 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021 |
​ | ​ | ​ | ​ | ​ | Gross |  | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair |
(Dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Value |
Available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury securities | ​ | $ | 193,849 | ​ | $ | 107 | ​ | $ | 2,382 | ​ | $ | 191,574 | ​
U.S. government-sponsored enterprises | ​ | ​ | 33,435 | ​ | ​ | 343 | ​ | ​ | ​ | ​ |  | 33,778 | ​
State and municipals: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxable | ​ |  | 69,066 | ​ |  | 994 | ​ | ​ | 1,082 | ​ |  | 68,978 | ​
Tax-exempt | ​ |  | 96,412 | ​ |  | 2,452 | ​ |  | 614 | ​ |  | 98,250 | ​
Residential mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ |  | 1,790 | ​ |  | 53 | ​ |  | ​ | ​ |  | 1,843 | ​
U.S. government-sponsored enterprises | ​ |  | 109,018 | ​ |  | 939 | ​ |  | 2,925 | ​ |  | 107,032 | ​
Commercial mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government-sponsored enterprises | ​ | ​ | 12,542 | ​ | ​ | 406 | ​ | ​ | ​ | ​ | ​ | 12,948 | ​
Corporate debt securities | ​ | ​ | 3,000 | ​ | ​ | ​ | ​ | ​ | 82 | ​ | ​ | 2,918 | ​
Total | ​ | $ | 519,112 | ​ | $ | 5,294 | ​ | $ | 7,085 | ​ | $ | 517,321 | ​
Held-to-maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax-exempt state and municipals | ​ | $ | 11,476 | ​ | $ | 126 | ​ | $ | 56 | ​ | $ | 11,546 | ​
Residential mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | ​ | 18,802 | ​ |  | ​ | ​ | ​ | 392 | ​ |  | 18,410 | ​
U.S. government-sponsored enterprises | ​ |  | 40,935 | ​ |  | 3 | ​ | ​ | 448 | ​ |  | 40,490 | ​
Total | ​ | $ | 71,213 | ​ | $ | 129 | ​ | $ | 896 | ​ | $ | 70,446 | ​
​ At December 31, 2022, our marketable equity security portfolio consisted of stock of one financial institution. At December 31, 2022 and December 31, 2021, we had $0.1 million in equity securities recorded at fair value. At December 31, 2022, the fair value of our equity portfolio was less than the cost basis by $44 thousand. The following is a summary of unrealized and realized gains and losses recognized in net income on equity marketable securities during 2022 and 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | ​ | 2022 |  | ​ | 2021
Net (loss) gain recognized during the period on equity securities | ​ | $ | (31) | ​ | $ | 2
Unrealized gain recognized during the reporting period on equity securities still held at the reporting date | ​ | $ | (31) | ​ | $ | 2
​ The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at December 31, 2022, is summarized as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Fair |
(Dollars in thousands) |  | Value |
Within one year | ​ | $ | 15,601 | ​
After one but within five years | ​ |  | 168,324 | ​
After five but within ten years | ​ |  | 72,917 | ​
After ten years | ​ |  | 84,933 | ​
​ | ​ |  | 341,775 | ​
Mortgage-backed and other amortizing securities | ​ |  | 135,928 | ​
Total | ​ | $ | 477,703 | ​
​ Expected maturities will differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. ​ The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at December 31, 2022, is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Fair |
(Dollars in thousands) |  | Cost |  | Value |
After five but within ten years | ​ | $ | 8,884 | ​ | $ | 8,227 | ​
After ten years | ​ | ​ | 2,353 | ​ | ​ | 2,170 | ​
​ | ​ |  | 11,237 | ​ |  | 10,397 | ​
Mortgage-backed securities | ​ |  | 79,942 | ​ |  | 66,166 | ​
Total | ​ | $ | 91,179 | ​ | $ | 76,563 | ​
​ Securities with a carrying value of $168.0 million and $203.6 million at December 31, 2022 and 2021, respectively, were pledged to secure public deposits and certain other deposits as required or permitted by law. Securities and short-term investment activities are conducted with a diverse group of government entities, corporations and state and local municipalities. The counterparty’s creditworthiness and type of collateral is evaluated on a case-by-case basis. At December 31, 2022 and 2021, there were no significant concentrations of credit risk from any one issuer, with the exception of U.S. government agencies and sponsored enterprises that exceeded 10.0 percent of stockholders’ equity. The fair value and gross unrealized losses of investment securities with unrealized losses for which an OTTI has not been recognized at December 31, 2022 and 2021, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total | ​
​ | ​ | Number of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Number of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Number of | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Securities in a | ​ | Fair | ​ | Unrealized | ​ | Securities in a | ​ | Fair | ​ | Unrealized | ​ | Securities in a | ​ | Fair | ​ | Unrealized | ​
(Dollars in thousands) |  | Loss Position |  | Value |  | Losses |  | Loss Position |  | Value |  | Losses |  | Loss Position |  | Value |  | Losses | ​
U.S. Treasury securities | ​ | 5 | ​ | $ | 23,700 | ​ | $ | 1,887 | ​ | 40 | ​ | $ | 156,597 | ​ | $ | 17,753 | ​ | 45 | ​ | $ | 180,297 | ​ | $ | 19,640 | ​
U.S. government-sponsored enterprises | ​ | 4 | ​ | ​ | 14,104 | ​ | ​ | 197 | ​ | 1 | ​ | ​ | 2,266 | ​ | ​ | 388 | ​ | 5 | ​ | ​ | 16,370 | ​ | ​ | 585 | ​
State and municipals: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxable | ​ | 21 | ​ | ​ | 19,919 | ​ | ​ | 2,908 | ​ | 45 | ​ | ​ | 34,464 | ​ | ​ | 10,680 | ​ | 66 | ​ | ​ | 54,383 | ​ | ​ | 13,588 | ​
Tax-exempt | ​ | 39 | ​ | ​ | 30,973 | ​ | ​ | 1,690 | ​ | 84 | ​ | ​ | 59,664 | ​ | ​ | 10,611 | ​ | 123 | ​ | ​ | 90,637 | ​ | ​ | 12,301 | ​
Residential mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | 5 | ​ | ​ | 904 | ​ | ​ | 39 | ​ | 4 | ​ | ​ | 14,326 | ​ | ​ | 3,017 | ​ | 9 | ​ | ​ | 15,230 | ​ | ​ | 3,056 | ​
U.S. government-sponsored enterprises | ​ | 19 | ​ | ​ | 57,166 | ​ | ​ | 2,029 | ​ | 25 | ​ | ​ | 115,831 | ​ | ​ | 28,843 | ​ | 44 | ​ | ​ | 172,997 | ​ |  | 30,872 | ​
Commercial mortgage-backed securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government-sponsored enterprises | ​ | 4 | ​ |  | 11,584 | ​ |  | 544 | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | 4 | ​ |  | 11,584 | ​ |  | 544 | ​
Corporate debt securities | ​ | 1 | ​ | ​ | 953 | ​ | ​ | 47 | ​ | 5 | ​ | ​ | 2,673 | ​ | ​ | 327 | ​ | 6 | ​ | ​ | 3,626 | ​ | ​ | 374 | ​
Total | ​ | 98 | ​ | $ | 159,303 | ​ | $ | 9,341 | ​ | 204 | ​ | $ | 385,821 | ​ | $ | 71,619 | ​ | 302 | ​ | $ | 545,124 | ​ | $ | 80,960 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​
​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total | ​
​ | ​ | Number of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Number of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Number of | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Securities in a | ​ | Fair | ​ | Unrealized | ​ | Securities in a | ​ | Fair | ​ | Unrealized | ​ | Securities in a | ​ | Fair | ​ | Unrealized | ​
(Dollars in thousands) |  | Loss Position |  | Value |  | Losses |  | Loss Position |  | Value |  | Losses |  | Loss Position |  | Value |  | Losses | ​
U.S. Treasury securities | ​ | 42 | ​ | $ | 179,974 | ​ | $ | 2,382 | ​ |  | ​ | $ | ​ | ​ | $ | ​ | ​ | 42 | ​ | $ | 179,974 | ​ | $ | 2,382 | ​
U.S. government-sponsored enterprises | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
State and municipals: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxable | ​ | 27 | ​ | ​ | 26,827 | ​ | ​ | 718 | ​ | 8 | ​ | ​ | 8,008 | ​ | ​ | 364 | ​ | 35 | ​ | ​ | 34,835 | ​ | ​ | 1,082 | ​
Tax-exempt | ​ | 61 | ​ |  | 38,693 | ​ |  | 357 | ​ | 2 | ​ | ​ | 10,319 | ​ |  | 313 | ​ | 63 | ​ |  | 49,012 | ​ |  | 670 | ​
Residential mortgage-backed securities: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | 3 | ​ | ​ | 18,398 | ​ |  | 392 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3 | ​ |  | 18,398 | ​ |  | 392 | ​
U.S. government-sponsored enterprises | ​ | 13 | ​ |  | 77,875 | ​ |  | 1,454 | ​ | 7 | ​ | ​ | 48,276 | ​ | ​ | 1,919 | ​ | 20 | ​ |  | 126,151 | ​ |  | 3,373 | ​
Commercial mortgage-backed securities: | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government-sponsored enterprises | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Corporate debt securities | ​ | 4 | ​ |  | 2,449 | ​ |  | 51 | ​ | 1 | ​ | ​ | 470 | ​ | ​ | 31 | ​ | 5 | ​ |  | 2,919 | ​ |  | 82 | ​
Total | ​ | 150 | ​ | $ | 344,216 | ​ | $ | 5,354 | ​ | 18 | ​ | $ | 67,073 | ​ | $ | 2,627 | ​ | 168 | ​ | $ | 411,289 | ​ | $ | 7,981 | ​
​ Management does not consider the unrealized losses on the debt securities, as a result of significantly higher market interest rates, to be OTTI based on historical evidence that indicates the cost of these securities is recoverable within a reasonable period of time in relation to normal cyclical changes in the market rates of interest. Moreover, because there has been no known material change in the credit quality of the issuers or other events or circumstances that may cause a significant adverse impact on the fair value of these securities, and management does not intend to sell these securities and it is unlikely that the Company will be required to sell these securities before recovery of their amortized cost basis, which may be maturity, the Company does not consider the unrealized losses to be OTTI at December 31, 2022. There was no OTTI recognized for each of the years in the three-year period ended December 31, 2022.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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