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Investment Securities and Other Investments (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Investments [Abstract]

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

The following tables present amortized cost, fair values, and gross unrealized gains and losses of investment securities AFS as of the dates stated.


		September 30, 2024
(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available for sale
Mortgage backed securities		$	192,870			$	—			$	(27,434	)		$	165,436
U.S. Treasury and agencies			79,428				—				(7,975	)			71,453
State and municipal			50,295				1				(5,767	)			44,529
Corporate bonds			36,883				—				(3,517	)			33,366
Total investment securities		$	359,476			$	1			$	(44,693	)		$	314,784


		December 31, 2023
(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available for sale
Mortgage backed securities		$	212,214			$	—			$	(35,244	)		$	176,970
U.S. Treasury and agencies			79,856				—				(10,985	)			68,871
State and municipal			50,682				—				(7,357	)			43,325
Corporate bonds			36,902				12				(4,999	)			31,915
Total investment securities		$	379,654			$	12			$	(58,585	)		$	321,081

Summary of Investments Classified by Contractual Maturity Date

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


		September 30, 2024
(Dollars in thousands)		Amortized Cost				Fair Value
Due in one year or less		$	2,043			$	2,031
Due after one year through five years			49,212				46,239
Due after five years through ten years			116,115				102,976
Due after ten years			192,106				163,538
Total		$	359,476			$	314,784

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, 2024
						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
Mortgage backed securities			79			$	—			$	—			$	165,434			$	(27,434	)		$	165,434			$	(27,434	)
U.S. Treasury and agencies			29				—				—				71,452				(7,975	)			71,452				(7,975	)
State and municipal			64				330				(1	)			41,953				(5,766	)			42,283				(5,767	)
Corporate bonds			40				2,209				(40	)			30,407				(3,477	)			32,616				(3,517	)
Total			212			$	2,539			$	(41	)		$	309,246			$	(44,652	)		$	311,785			$	(44,693	)


						December 31, 2023
						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
Mortgage backed securities			86			$	7,497			$	(45	)		$	169,474			$	(35,199	)		$	176,971			$	(35,244	)
U.S. Treasury and agencies			29				283				(1	)			68,399				(10,984	)			68,682				(10,985	)
State and municipal			65				536				(9	)			41,118				(7,348	)			41,654				(7,357	)
Corporate bonds			39				7,469				(830	)			21,683				(4,169	)			29,152				(4,999	)
Total			219			$	15,785			$	(885	)		$	300,674			$	(57,700	)		$	316,459			$	(58,585	)