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v3.23.3

Securities (Tables) | 9 Months Ended
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Sep. 30, 2023
Securities |
Summary of the amortized cost and estimated fair value of securities with gross unrealized gains and losses | The following tables present the amortized cost and estimated fair value of securities with gross unrealized gains and losses at September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | $ | 2,883 | ​ | $ | — | ​ | $ | (19) | ​ | $ | 2,864
Municipal Bonds | ​ | ​ | 148,725 | ​ |  | — | ​ |  | (26,228) | ​ | ​ | 122,497
Mortgage-Backed Securities | ​ |  | 233,920 | ​ |  | 137 | ​ |  | (23,682) | ​ |  | 210,375
Corporate Securities | ​ |  | 134,369 | ​ | ​ | 268 | ​ | ​ | (12,920) | ​ |  | 121,717
SBA Securities | ​ |  | 19,779 | ​ | ​ | 312 | ​ | ​ | (125) | ​ | ​ | 19,966
Asset-Backed Securities | ​ | ​ | 75,616 | ​ | ​ | 388 | ​ | ​ | (347) | ​ | ​ | 75,657
Total Securities Available for Sale | ​ | $ | 615,292 | ​ | $ | 1,105 | ​ | $ | (63,321) | ​ | $ | 553,076
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | $ | 2,621 | ​ | $ | — | ​ | $ | (41) | ​ | $ | 2,580
Municipal Bonds | ​ | ​ | 156,506 | ​ | ​ | 62 | ​ | ​ | (25,214) | ​ | ​ | 131,354
Mortgage-Backed Securities | ​ |  | 252,919 | ​ |  | 2,465 | ​ |  | (17,600) | ​ |  | 237,784
Corporate Securities | ​ |  | 116,871 | ​ | ​ | 45 | ​ | ​ | (7,089) | ​ |  | 109,827
SBA Securities | ​ |  | 20,957 | ​ | ​ | 79 | ​ | ​ | (159) | ​ |  | 20,877
Asset-Backed Securities | ​ | ​ | 46,623 | ​ | ​ | 188 | ​ | ​ | (620) | ​ | ​ | 46,191
Total Securities Available for Sale | ​ | $ | 596,497 | ​ | $ | 2,839 | ​ | $ | (50,723) | ​ | $ | 548,613
Summary of fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position | The following tables present the fair value and gross unrealized losses of securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | Number of | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
(dollars in thousands, except number of holdings) |  | Holdings |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
September 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | 5 | ​ | $ | 886 | ​ | $ | (5) | ​ | $ | 880 | ​ | $ | (14) | ​ | $ | 1,766 | ​ | $ | (19)
Municipal Bonds | ​ | 218 | ​ | ​ | 8,358 | ​ | ​ | (232) | ​ | ​ | 114,139 | ​ | ​ | (25,996) | ​ | ​ | 122,497 | ​ | ​ | (26,228)
Mortgage-Backed Securities | ​ | 140 | ​ | ​ | 68,938 | ​ | ​ | (2,205) | ​ | ​ | 135,408 | ​ | ​ | (21,477) | ​ |  | 204,346 | ​ |  | (23,682)
Corporate Securities | ​ | 109 | ​ | ​ | 18,899 | ​ | ​ | (1,024) | ​ | ​ | 94,731 | ​ | ​ | (11,896) | ​ |  | 113,630 | ​ |  | (12,920)
SBA Securities | ​ | 47 | ​ | ​ | 2,319 | ​ | ​ | (6) | ​ | ​ | 6,811 | ​ | ​ | (119) | ​ |  | 9,130 | ​ |  | (125)
Asset-Backed Securities | ​ | 16 | ​ | ​ | 17,215 | ​ | ​ | (130) | ​ | ​ | 14,173 | ​ | ​ | (217) | ​ | ​ | 31,388 | ​ | ​ | (347)
Total Securities Available for Sale | ​ | 535 | ​ | $ | 116,615 | ​ | $ | (3,602) | ​ | $ | 366,142 | ​ | $ | (59,719) | ​ | $ | 482,757 | ​ | $ | (63,321)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Less Than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ | ​ | Number of | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
(dollars in thousands, except number of holdings) |  | Holdings |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | 6 | ​ | $ | 2,330 | ​ | $ | (41) | ​ | $ | — | ​ | $ | — | ​ | $ | 2,330 | ​ | $ | (41)
Municipal Bonds | ​ | 225 | ​ | ​ | 59,912 | ​ | ​ | (5,321) | ​ | ​ | 69,424 | ​ | ​ | (19,893) | ​ | ​ | 129,336 | ​ | ​ | (25,214)
Mortgage-Backed Securities | ​ | 130 | ​ | ​ | 123,224 | ​ | ​ | (5,427) | ​ | ​ | 62,882 | ​ | ​ | (12,173) | ​ |  | 186,106 | ​ |  | (17,600)
Corporate Securities | ​ | 100 | ​ | ​ | 88,486 | ​ | ​ | (5,121) | ​ | ​ | 17,054 | ​ | ​ | (1,968) | ​ |  | 105,540 | ​ |  | (7,089)
SBA Securities | ​ | 49 | ​ | ​ | 2,498 | ​ | ​ | (6) | ​ | ​ | 9,750 | ​ | ​ | (153) | ​ |  | 12,248 | ​ |  | (159)
Asset-Backed Securities | ​ | 20 | ​ | ​ | 21,919 | ​ | ​ | (396) | ​ | ​ | 6,186 | ​ | ​ | (224) | ​ | ​ | 28,105 | ​ | ​ | (620)
Total Securities Available for Sale | ​ | 530 | ​ | $ | 298,369 | ​ | $ | (16,312) | ​ | $ | 165,296 | ​ | $ | (34,411) | ​ | $ | 463,665 | ​ | $ | (50,723)
Schedule of contractual maturities of debt | The following table presents a summary of amortized cost and estimated fair value of debt securities by the lesser of expected call date or contractual maturity as of September 30, 2023. Call date is used when a call of the debt security is expected, as determined by the Company when the security has a market value above its amortized cost. Contractual maturities will differ from expected maturities for mortgage-backed, SBA securities and asset-backed securities because borrowers may have the right to call or prepay obligations without penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | Amortized Cost |  | Fair Value
September 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​
Due in One Year or Less | ​ | $ | 9,779 | ​ | $ | 9,833
Due After One Year Through Five Years | ​ |  | 44,811 | ​ |  | 42,665
Due After Five Years Through 10 Years | ​ |  | 179,590 | ​ |  | 155,444
Due After 10 Years | ​ |  | 51,797 | ​ |  | 39,136
Subtotal | ​ |  | 285,977 | ​ |  | 247,078
Mortgage-Backed Securities | ​ |  | 233,920 | ​ |  | 210,375
SBA Securities | ​ |  | 19,779 | ​ |  | 19,966
Asset-Backed Securities | ​ | ​ | 75,616 | ​ | ​ | 75,657
Totals | ​ | $ | 615,292 | ​ | $ | 553,076
Summary of the proceeds from sales of securities available for sale, as well as gross gains and losses | The following table presents a summary of the proceeds from sales of securities available for sale, as well as gross gains and losses, for the three and nine months ended September 30, 2023 and September 30, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
(dollars in thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Proceeds From Sales of Securities | ​ | $ | — | ​ | $ | — | ​ | $ | 26,976 | ​ | $ | 25,066
Gross Gains on Sales | ​ |  | — | ​ |  | — | ​ |  | 247 | ​ |  | 234
Gross Losses on Sales | ​ |  | — | ​ |  | — | ​ |  | (253) | ​ |  | (182)
​

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