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Investment securities (Tables)

6 Months Ended

Jun. 30, 2024

Investment securities

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


		June 30, 2024
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
(Dollars in thousands)		Cost			Gains			Losses			Value
Available for sale:
U.S. Treasury securities		$	193,092		$			$	13,085		$	180,007
U.S. government-sponsored enterprises			2,409						377			2,032
State and municipals:
Taxable			67,761						10,924			56,837
Tax-exempt			74,877						9,873			65,004
Residential mortgage-backed securities:
U.S. government agencies			638						34			604
U.S. government-sponsored enterprises			86,754						19,090			67,664
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			9,658						294			9,364
Corporate debt securities			4,000						272			3,728
Total available for sale		$	439,189		$			$	53,949		$	385,240
Held to maturity:
Tax-exempt state and municipals		$	11,184		$			$	873		$	10,311
Residential mortgage-backed securities:
U.S. government agencies			14,554						2,706			11,848
U.S. government-sponsored enterprises			55,860						9,795			46,065
Total held to maturity		$	81,598		$			$	13,374		$	68,224


		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		$	43,852		$	42,651
After one but within five years			171,504			158,031
After five but within ten years			53,729			46,189
After ten years			70,645			58,705
			339,730			305,576
Mortgage-backed and other amortizing securities			99,459			79,664
Total		$	439,189		$	385,240


		Amortized			Fair
(Dollars in thousands)		Cost			Value
After one but within five years		$	1,192		$	1,097
After five but within ten years			9,991			9,213
			11,183			10,310
Mortgage-backed securities			70,415			57,914
Total		$	81,598		$	68,224

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


		June 30, 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				$			$			42		$	180,007		$	13,085		42		$	180,007		$	13,085
U.S. government-sponsored enterprises										2			2,032			377		2			2,032			377
State and municipals:
Taxable										66			56,837			10,924		66			56,837			10,924
Tax-exempt										94			65,004			9,873		94			65,004			9,873
Residential mortgage-backed securities:
U.S. government agencies										3			604			34		3			604			34
U.S. government-sponsored enterprises										30			67,664			19,090		30			67,664			19,090
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises										4			9,364			294		4			9,364			294
Corporate debt securities										6			3,728			272		6			3,728			272

Total				$			$			247		$	385,240		$	53,949		247		$	385,240		$	53,949

Securities Held to Maturity
State and municipals:
Tax-exempt		5		$	2,883		$	11		12		$	7,428		$	862		17		$	10,311		$	873
Residential mortgage-backed securities:
U.S. government agencies										4			11,848			2,706		4			11,848			2,706
U.S. government-sponsored enterprises										8			46,065			9,795		8			46,065			9,795
Total		5		$	2,883		$	11		24		$	65,341		$	13,363		29		$	68,224		$	13,374


		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