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Investment securities (Tables)

3 Months Ended

Mar. 31, 2023

Investment Securities

Schedule of amortized cost and fair value of investment securities aggregated by investment category


		March 31, 2023
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(Dollars in thousands)		Cost			Gains			Losses			Value
Available-for-sale:
U.S. Treasury securities		$	197,660		$			$	16,096		$	181,564
U.S. government-sponsored enterprises			16,872						441			16,431
State and municipals:
Taxable			68,426			5			11,227			57,204
Tax-exempt			77,668			1			9,095			68,574
Residential mortgage-backed securities:
U.S. government agencies			942						34			908
U.S. government-sponsored enterprises			95,947						17,735			78,212
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			12,105						484			11,621
Corporate debt securities			4,000						389			3,611
Total		$	473,620		$	6		$	55,501		$	418,125
Held-to-maturity:
Tax-exempt state and municipals		$	11,228		$	8		$	674		$	10,562
Residential mortgage-backed securities:
U.S. government agencies			16,806						2,541			14,265
U.S. government-sponsored enterprises			61,671						9,425			52,246
Total		$	89,705		$	8		$	12,640		$	77,073


		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

Schedule of fair value and unrealized losses of investment securities in continuous unrealized loss position


		March 31, 2023
		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				$			$			43		$	181,564		$	16,096		43		$	181,564		$	16,096
U.S. government-sponsored enterprises										5			16,431			441		5			16,431			441
State and municipals:
Taxable		2			999			19		63			54,709			11,208		65			55,708			11,227
Tax-exempt		7			3,095			29		98			70,366			9,740		105			73,461			9,769
Residential mortgage-backed securities:
U.S. government agencies		2			818			31		7			14,355			2,544		9			15,173			2,575
U.S. government-sponsored enterprises		1			527			12		40			129,931			27,148		41			130,458			27,160
Commercial mortgage-backed securities:
U.S. government agencies
U.S. government-sponsored enterprises		1			1,926			86		3			9,695			398		4			11,621			484
Corporate debt securities										6			3,611			389		6			3,611			389
Total		13		$	7,365		$	177		265		$	480,662		$	67,964		278		$	488,027		$	68,141


		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-sponsored enterprises		4			11,584			544										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

Available-for-Sale Securities

Investment Securities

Schedule of maturity distribution of fair value


		Fair
(Dollars in thousands)		Value
Within one year		$	15,202
After one but within five years			176,975
After five but within ten years			66,629
After ten years			66,319
			325,125
Mortgage-backed and other amortizing securities			93,000
Total		$	418,125

Held-to-maturity Securities.

Investment Securities

Schedule of maturity distribution of fair value


		Amortized			Fair
(Dollars in thousands)		Cost			Value
Within one year		$			$
After one but within five years
After five but within ten years			8,877			8,355
After ten years			2,351			2,207
			11,228			10,562
Mortgage-backed securities			78,477			66,511
Total		$	89,705		$	77,073