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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Values of Investment Securities Available-for-sale

Amortized cost and fair values of investment securities available-for-sale at December 31, 2021 are summarized as follows:

(Dollars in thousands)						Amortized Cost						Unrealized Gain						Unrealized Loss						Fair Value
United States government agency securities						$	41,105					$	228					$	(896)					$	40,437
United States sponsored mortgage-backed securities						77,519						222						(1,633)						76,108
United States treasury securities						112,133						—						(1,744)						110,389
Municipal securities						171,044						4,334						(366)						175,012
Corporate debt securities						11,093						49						—						11,142
Other debt securities						7,500						—						—						7,500
Total debt securities						420,394						4,833						(4,639)						420,588
Other securities						878						—						—						878
Total investment securities available-for-sale						$	421,272					$	4,833					$	(4,639)					$	421,466

Amortized cost and fair values of investment securities available-for-sale at December 31, 2020 are summarized as follows:

(Dollars in thousands)						Amortized Cost						Unrealized Gain						Unrealized Loss						Fair Value
United States government agency securities						$	53,207					$	872					$	(210)					$	53,869
United States sponsored mortgage-backed securities						94,968						972						(171)						95,769
United States treasury securities						3,000						123						—						3,123
Municipal securities						223,642						8,327						(82)						231,887
Corporate debt securities						17,473						146						(71)						17,548
Other debt securities						7,500						—						—						7,500
Total debt securities						399,790						10,440						(534)						409,696
Other securities						928						—						—						928
Total investment securities available-for-sale						$	400,718					$	10,440					$	(534)					$	410,624

The following table summarizes amortized cost and fair values of debt securities by maturity:

						December 31, 2021
						Available for sale
(Dollars in thousands)						Amortized Cost						Fair Value
Within one year						$	994					$	1,006
After one year, but within five years						120,932						119,219
After five years, but within ten years						33,898						34,495
After ten years						264,570						265,868
Total						$	420,394					$	420,588

Investments in an Unrealized Loss Position

The following table discloses the length of time that investments have remained in an unrealized loss position at December 31, 2021:

(Dollars in thousands)						Less than 12 months												12 months or more
Description and number of positions						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss
United States government agency securities (21)						$	5,101					$	(77)					$	21,770					$	(819)
United States sponsored mortgage-backed securities (30)						55,354						(1,346)						7,845						(287)
United States treasury securities (24)						110,389						(1,744)						—						—
Municipal securities (53)						32,221						(270)						7,001						(96)
						$	203,065					$	(3,437)					$	36,616					$	(1,202)

The following table discloses the length of time that investments have remained in an unrealized loss position at December 31, 2020:

(Dollars in thousands)						Less than 12 months												12 months or more
Description and number of positions						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss
United States government agency securities (27)						$	19,021					$	(68)					$	12,574					$	(142)
United States sponsored mortgage-backed securities (9)						15,331						(155)						3,349						(16)
Municipal securities (14)						11,856						(82)						—						—
Corporate debt securities (5)						3,947						(71)						—						—
						$	50,155					$	(376)					$	15,923					$	(158)

Realized Gain (Loss) on Investments

The following table summarizes the investment sales and related gains and losses in 2021, 2020 and 2019:

(Dollars in thousands)						2021						2020						2019
Sales of available-for-sale investments						$	146,011					$	54,023					$	31,220
Gross gains						3,944						948						105
Gross losses						69						34						271
Sales of equity investments						$	543					$	4,622					$	5,968
Gross gains						5						3,501						—
Gross losses						—						—						7

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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Tabular disclosure of realized gains and losses on investments reported in the statement of income.

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