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Securities (Tables)

3 Months Ended

Mar. 31, 2023

Debt Securities, Trading, and Equity Securities, FV-NI, Cost [Abstract]

Schedule of Gross Unrealized Gains and (Losses)

The fair value of equity securities and the related gross unrealized gains and (losses) recognized in noninterest income were as follows:

	March 31, 2023
					Gross				Gross
(Dollars in thousands)	Amortized				Unrealized				Unrealized				Fair
	Cost				Gains				Losses				Value
Equity securities	$	9,052			$	310			$	(663	)		$	8,699

	December 31, 2022
					Gross				Gross
(Dollars in thousands)	Amortized				Unrealized				Unrealized				Fair
	Cost				Gains				Losses				Value
Equity securities	$	8,982			$	305			$	(721	)		$	8,566

Schedule of Gross Unrealized Gains and Losses on Investment Securities Available for Sale Recognized in Accumulated Other Comprehensive Income (loss)

The following tables present the amortized cost and fair value of securities available for sale and the gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and the fair value of securities held to maturity and the related gross unrealized gains and losses:

	March 31, 2023
					Gross				Gross
(Dollars in thousands)	Amortized				Unrealized				Unrealized				Fair
Available for Sale:	Cost				Gains				Losses				Value
U.S. Treasury notes and bonds	$	90,695			$	-			$	(10,720	)		$	79,975
State and municipal		281,139				-				(44,641	)			236,498
Mortgage-backed		231,577				8				(25,448	)			206,137
Corporate		758				-				(42	)			716
Asset-backed securities		12,546				-				(524	)			12,022
Total	$	616,715			$	8			$	(81,375	)		$	535,348
Held to Maturity:
U.S. Government and federal agency	$	2,968			$	-			$	(365	)		$	2,603
State and municipal		199,267				1				(32,688	)			166,580
Mortgage-backed		199,795				-				(29,139	)			170,656
Corporate		19,990				46				(2,292	)			17,744
Asset-backed securities		856				-				(66	)			790
Total	$	422,876			$	47			$	(64,550	)		$	358,373

	December 31, 2022
					Gross				Gross
(Dollars in thousands)	Amortized				Unrealized				Unrealized				Fair
Available for Sale:	Cost				Gains				Losses				Value
U.S. Treasury notes and bonds	$	90,810			$	-			$	(12,606	)		$	78,204
State and municipal		277,489				-				(47,551	)			229,938
Mortgage-backed		236,703				-				(28,140	)			208,563
Corporate		757				-				(46	)			711
Asset-backed securities		13,031				-				(698	)			12,333
Total	$	618,790			$	-			$	(89,041	)		$	529,749
Held to Maturity:
U.S. Government and federal agency	$	2,966			$	-			$	(421	)		$	2,545
State and municipal		201,890				1				(39,355	)			162,536
Mortgage-backed		200,473				-				(29,868	)			170,605
Corporate		19,603				-				(2,285	)			17,318
Asset-backed securities		974				-				(77	)			897
Total	$	425,906			$	1			$	(72,006	)		$	353,901

Schedule of Available for Sale Securities with Unrealize Losses

with unrealized losses as of March 31, 2023 and December 31, 2022, aggregated by investment category and length of time the individual securities have been in an unrealized loss position, were as follows:

	March 31, 2023
	Less than 12 months								More than 12 months								Total
(Dollars in thousands)	Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Available for Sale:	Value				Losses				Value				Losses				Value				Losses
U.S. Treasury notes and bonds	$	-			$	-			$	79,975			$	10,720			$	79,975			$	10,720
State and municipal		2,481				25				233,517				44,616				235,998				44,641
Mortgage-backed		26,955				1,626				178,182				23,822				205,137				25,448
Corporate		501				7				215				35				716				42
Asset-backed securities		-				-				12,022				524				12,022				524
Total temporarily impaired	$	29,937			$	1,658			$	503,911			$	79,717			$	533,848			$	81,375

	December 31, 2022
	Less than 12 months								More than 12 months								Total
(Dollars in thousands)	Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Available for Sale:	Value				Losses				Value				Losses				Value				Losses
U.S. Treasury notes and bonds	$	-			$	-			$	78,204			$	12,606			$	78,204			$	12,606
State and municipal		89,158				12,612				140,390				34,939				229,548				47,551
Mortgage-backed		63,249				3,093				144,318				25,047				207,567				28,140
Corporate		711				46				-				-				711				46
Asset-backed securities		-				-				12,333				698				12,333				698
Total temporarily impaired	$	153,118			$	15,751			$	375,245			$	73,290			$	528,363			$	89,041

Schedule of Held to Maturity Securities with Unrealize Losses

Held to maturity securities with unrealized losses as of March 31, 2023 and December 31, 2022, aggregated by investment category and length of time the individual securities have been in an unrealized loss position, were as follows:

	March 31, 2023
	Less than 12 months								More than 12 months								Total
(Dollars in thousands)	Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Held to Maturity:	Value				Losses				Value				Losses				Value				Losses
U.S. Government and federal agency	$	-			$	-			$	2,603			$	365			$	2,603			$	365
State and municipal		1,411				10				164,769				32,678				166,180				32,688
Mortgage-backed		414				24				170,242				29,115				170,656				29,139
Corporate		2,263				171				13,803				2,121				16,066				2,292
Asset-backed securities		-				-				790				66				790				66
Total temporarily impaired	$	4,088			$	205			$	352,207			$	64,345			$	356,295			$	64,550

	December 31, 2022
	Less than 12 months								More than 12 months								Total
(Dollars in thousands)	Fair				Unrealized				Fair				Unrealized				Fair				Unrealized
Held to Maturity:	Value				Losses				Value				Losses				Value				Losses
U.S. Government and federal agency	$	-			$	-			$	2,545			$	421			$	2,545			$	421
State and municipal		13,457				1,899				149,016				37,456				162,473				39,355
Mortgage-backed		25,582				822				145,024				29,046				170,606				29,868
Corporate		5,296				603				10,771				1,682				16,067				2,285
Asset-backed securities		-				-				897				77				897				77
Total temporarily impaired	$	44,335			$	3,324			$	308,253			$	68,682			$	352,588			$	72,006

Schedule of Maturities of Securities

Presented below is a schedule of maturities of securities as of March 31, 2023. Available for sale securities are reported at fair value and held to maturity securities are reported at amortized cost. Callable securities in the money are presumed called and matured at the callable date.

	Available for Sale Securities maturing within:
																	Fair Value
	Less than				1 Year -				5 Years -				More than				at March 31,
(Dollars in thousands)	1 Year				5 Years				10 Years				10 Years				2023
U.S. Government and federal agency	$	-			$	-			$	-			$	-			$	-
U.S. Treasury notes and bonds		-				19,451				60,524				-				79,975
State and municipal		4,261				7,282				99,415				125,540				236,498
Corporate		501				-				215				—				716
Asset-backed securities		—				8,767				3,255				—				12,022
Total debt securities		4,762				35,500				163,409				125,540				329,211
Mortgage-backed securities		7,412				76,343				106,925				15,457				206,137
Total Available for Sale	$	12,174			$	111,843			$	270,334			$	140,997			$	535,348

	Held to Maturity Securities maturing within:
																	Amortized Cost
	Less than				1 Year -				5 Years -				More than				at March 31,
(Dollars in thousands)	1 Year				5 Years				10 Years				10 Years				2023
U.S. Government and federal agency	$	—			$	—			$	2,968			$	—			$	2,968
State and municipal		2,415				4,998				89,542				102,312				199,267
Corporate		—				-				18,990				1,000				19,990
Asset-backed securities		—				856				—				—				856
Total debt securities		2,415				5,854				111,500				103,312				223,081
Mortgage-backed securities		21,951				32,133				145,711				—				199,795
Total Held to Maturity	$	24,366			$	37,987			$	257,211			$	103,312			$	422,876

Schedule of Unrealized Gains and Losses on Equity Securities

Following is information regarding unrealized gains and losses on equity securities for the three months ended March 31, 2023 and 2022:

		Three Months Ended
		March 31,
		2023				2022
Net gains and (losses) recognized during the period		$	63			$	(356	)
Less: Net gains and (losses) recognized during the period on securities sold			—				—
Unrealized gains and (losses) recognized during the reporting period on securities still held at the reporting date		$	63			$	(356	)

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