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Investment securities (Tables)

3 Months Ended

Mar. 31, 2024

Investment securities

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


		March 31, 2024
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(Dollars in thousands)		Cost			Gains			Losses			Value
Available for sale:
U.S. Treasury securities		$	198,006		$			$	14,107		$	183,899
U.S. government-sponsored enterprises			2,412						376			2,036
State and municipals:
Taxable			67,796						10,883			56,913
Tax-exempt			75,542						8,983			66,559
Residential mortgage-backed securities:
U.S. government agencies			702						37			665
U.S. government-sponsored enterprises			88,488						18,989			69,499
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			11,435						336			11,099
Corporate debt securities			4,000						257			3,743
Total available for sale		$	448,381		$			$	53,968		$	394,413
Held to maturity:
Tax-exempt state and municipals		$	11,192		$	1		$	709		$	10,484
Residential mortgage-backed securities:
U.S. government agencies			14,928						2,644			12,284
U.S. government-sponsored enterprises			57,186						9,965			47,221
Total held to maturity		$	83,306		$	1		$	13,318		$	69,989


		December 31, 2023
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(Dollars in thousands)		Cost			Gains			Losses			Value
Available for sale:
U.S. Treasury securities		$	197,920		$			$	13,863		$	184,057
U.S. government-sponsored enterprises			2,539						387			2,152
State and municipals:
Taxable			67,831						10,731			57,100
Tax-exempt			75,742						8,618			67,124
Residential mortgage-backed securities:
U.S. government agencies			758						34			724
U.S. government-sponsored enterprises			89,935						17,264			72,671
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			11,729						360			11,369
Corporate debt securities			4,000						270			3,730
Total available for sale		$	450,454		$			$	51,527		$	398,927
Held to maturity:
Tax-exempt state and municipals		$	11,201		$	1		$	660		$	10,542
Residential mortgage-backed securities:
U.S. government agencies			15,400						2,653			12,747
U.S. government-sponsored enterprises			58,250						9,841			48,409
Total held to maturity		$	84,851		$	1		$	13,154		$	71,698

Schedule of maturity distribution


		Amortized			Fair
(Dollars in thousands)		Cost			Value
Within one year		$	34,591		$	33,607
After one but within five years			183,827			169,269
After five but within ten years			53,597			46,456
After ten years			73,329			61,782
			345,344			311,114
Mortgage-backed and other amortizing securities			103,037			83,299
Total		$	448,381		$	394,413


		Amortized			Fair
(Dollars in thousands)		Cost			Value
After one but within five years		$	1,194		$	1,124
After five but within ten years			9,998			9,360
			11,192			10,484
Mortgage-backed securities			72,114			59,505
Total		$	83,306		$	69,989

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


		March 31, 2024
		Less than Twelve Months								Twelve Months or Longer								Total
		Total # in a loss						Unrealized		Total # in a loss						Unrealized		Total # in a loss						Unrealized
(Dollars in thousands)		Position			Fair Value			Losses		Position			Fair Value			Losses		Position			Fair Value			Losses
Securities Available for Sale
U.S. Treasury securities										43		$	183,899		$	14,107		43		$	183,899		$	14,107
U.S. government-sponsored enterprises										2			2,036			376		2			2,036			376
State and municipals:
Taxable										66			56,913			10,883		66			56,913			10,883
Tax-exempt		2		$	578		$	2		93			65,825			8,981		95			66,403			8,983
Residential mortgage-backed securities:
U.S. government agencies										3			665			37		3			665			37
U.S. government-sponsored enterprises										31			69,499			18,989		31			69,499			18,989
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises										4			11,099			336		4			11,099			336
Corporate debt securities										6			3,743			257		6			3,743			257

Total		2		$	578		$	2		248		$	393,679		$	53,966		250		$	394,257		$	53,968

Securities Held to Maturity
State and municipals:
Tax-exempt		2		$	1,168		$	17		11		$	6,630		$	692		13		$	7,798		$	709
Residential mortgage-backed securities:
U.S. government agencies										4			12,284			2,644		4			12,284			2,644
U.S. government-sponsored enterprises										8			47,221			9,965		8			47,221			9,965
Total		2		$	1,168		$	17		23		$	66,135		$	13,301		25		$	67,303		$	13,318


		December 31, 2023
		Less than Twelve Months								Twelve Months or Longer								Total
		Total # in a loss						Unrealized		Total # in a loss						Unrealized		Total # in a loss						Unrealized
(Dollars in thousands)		Position			Fair Value			Losses		Position			Fair Value			Losses		Position			Fair Value			Losses
Securities Available for Sale
U.S. Treasury securities										43		$	184,057		$	13,863		43		$	184,057		$	13,863
U.S. government-sponsored enterprises										2			2,152			387		2			2,152			387
State and municipals:
Taxable		1			995			6		65			56,105			10,725		66			57,100			10,731
Tax-exempt		2			575			5		93			66,393			8,613		95			66,968			8,618
Residential mortgage-backed securities:
U.S. government agencies										3			724			34		3			724			34
U.S. government-sponsored enterprises										32			72,671			17,264		32			72,671			17,264
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises										4			11,369			360		4			11,369			360
Corporate debt securities										6			3,730			270		6			3,730			270
Total		3			1,570			11		248			397,201			51,516		251			398,771			51,527

Securities Held to Maturity
State and municipals:
Tax-exempt		2		$	1,438		$	36		10		$	6,209		$	624		12		$	7,647		$	660
Residential mortgage-backed securities:
U.S. government agencies										4			12,747			2,653		4			12,747			2,653
U.S. government-sponsored enterprises										8			48,409			9,841		8			48,409			9,841
Total		2		$	1,438		$	36		22		$	67,365		$	13,118		24		$	68,803		$	13,154