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Investments (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Investments [Abstract]

Summary of Amortized Cost and Fair Values of Investment Securities Available for Sale

Investment securities available for sale are carried at fair value in the consolidated balance sheets. The following tables present amortized cost and fair values of investment securities available for sale as of the dates stated.

		September 30, 2021
(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available for sale
State and municipal		$	41,843			$	289			$	(280	)		$	41,852
U.S. Treasury and agencies			49,212				—				(664	)			48,548
Mortgage backed securities			241,108				617				(2,802	)			238,923
Corporate bonds			30,210				808				(243	)			30,775
Total investment securities		$	362,373			$	1,714			$	(3,989	)		$	360,098

		December 31, 2020
(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available for sale
State and municipal		$	14,069			$	258			$	(68	)		$	14,259
U.S. Treasury and agencies			2,500				—				(91	)			2,409
Mortgage backed securities			72,337				696				(398	)			72,635
Corporate bonds			19,755				469				(52	)			20,172
Total investment securities		$	108,661			$	1,423			$	(609	)		$	109,475

Summary of Investments Classified by Contractual Maturity Date

The following table presents the amortized cost and fair value of securities available for sale by contractual maturity as of the date stated. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

		September 30, 2021
(Dollars in thousands)		Amortized Cost				Fair Value
Due in one year or less		$	694			$	694
Due after one year through five years			27,345				27,356
Due after five years through ten years			89,716				89,920
Due after ten years			244,618				242,128
Total		$	362,373			$	360,098

Summary of Unrealized Losses

The following tables present a summary of unrealized losses and the length of time securities have been in a continuous loss position, by security type and number of securities, as of the dates stated.

						September 30, 2021
						Less than 12 Months								12 Months or Greater								Total
(Dollars in thousands)		Number of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
State and municipal			31			$	19,291			$	(280	)		$	—			$	—			$	19,291			$	(280	)
U.S. Treasury and agencies			20				46,234				(664	)			—				—				46,234				(664	)
Mortgage backed securities			72				180,950				(2,795	)			834				(7	)			181,784				(2,802	)
Corporate bonds			10				5,099				(230	)			987				(13	)			6,086				(243	)
Total			133			$	251,574			$	(3,969	)		$	1,821			$	(20	)		$	253,395			$	(3,989	)

						December 31, 2020
						Less than 12 Months								12 Months or Greater								Total
(Dollars in thousands)		Number of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
State and municipal			6			$	3,111			$	(68	)		$	—			$	—			$	3,111			$	(68	)
U.S. Treasury and agencies			1				2,410				(91	)			—				—				2,410				(91	)
Mortgage backed securities			22				20,545				(65	)			8,592				(333	)			29,137				(398	)
Corporate bonds			7				3,242				(7	)			1,955				(45	)			5,197				(52	)
Total			36			$	29,308			$	(231	)		$	10,547			$	(378	)		$	39,855			$	(609	)

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

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- Definition

Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value.

+ References

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563

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