XML 70 R36.htm IDEA: XBRL DOCUMENT
v3.22.4

Investment Securities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
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, 2022 are summarized as follows:
(Dollars in thousands) |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value
United States government agency securities |  | $ | 51,436 |  |  | $ | 15 |  |  | $ | (6,637) |  |  | $ | 44,814 |
United States sponsored mortgage-backed securities |  | 68,267 |  |  | — |  |  | (11,696) |  |  | 56,571 |
United States treasury securities |  | 130,689 |  |  | 48 |  |  | (9,828) |  |  | 120,909 |
Municipal securities |  | 157,842 |  |  | 2,412 |  |  | (21,618) |  |  | 138,636 |
Corporate debt securities |  | 10,570 |  |  | 10 |  |  | (20) |  |  | 10,560 |
Other debt securities |  | 7,500 |  |  | — |  |  | — |  |  | 7,500 |
Total debt securities |  | 426,304 |  |  | 2,485 |  |  | (49,799) |  |  | 378,990 |
Other securities |  | 824 |  |  | — |  |  | — |  |  | 824 |
Total investment securities available-for-sale |  | $ | 427,128 |  |  | $ | 2,485 |  |  | $ | (49,799) |  |  | $ | 379,814 |
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 |
The following table summarizes amortized cost and fair values of debt securities by maturity:
|  | December 31, 2022
|  | Available for sale
(Dollars in thousands) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 5,034 |  |  | $ | 5,033 |
After one year, but within five years |  | 140,570 |  |  | 130,614 |
After five years, but within ten years |  | 41,366 |  |  | 37,368 |
After ten years |  | 239,334 |  |  | 205,975 |
Total |  | $ | 426,304 |  |  | $ | 378,990 |
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, 2022:
(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 (32) |  | $ | 21,287 |  |  | $ | (1,937) |  |  | $ | 19,423 |  |  | $ | (4,700) |
United States sponsored mortgage-backed securities (51) |  | 6,953 |  |  | (852) |  |  | 49,618 |  |  | (10,844) |
United States treasury securities (29) |  | 11,936 |  |  | (130) |  |  | 102,092 |  |  | (9,698) |
Municipal securities (173) |  | 65,930 |  |  | (7,507) |  |  | 41,184 |  |  | (14,111) |
Corporate debt securities (3) |  | 2,380 |  |  | (20) |  |  | — |  |  | — |
|  | $ | 108,486 |  |  | $ | (10,446) |  |  | $ | 212,317 |  |  | $ | (39,353) |
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) |
Corporate debt securities (9) |  | — |  |  | — |  |  | — |  |  | — |
|  | $ | 203,065 |  |  | $ | (3,437) |  |  | $ | 36,616 |  |  | $ | (1,202) |
Realized Gain (Loss) on Investments | The following table summarizes the investment sales and related gains and losses in 2022, 2021 and 2020:
(Dollars in thousands) |  | 2022 |  | 2021 |  | 2020
Proceeds from sales of available-for-sale securities |  | $ | 60,635 |  |  | $ | 146,011 |  |  | $ | 54,023 |
Gains, gross |  | 717 |  |  | 3,944 |  |  | 948 |
Losses, gross |  | (67) |  |  | (69) |  |  | (34) |
Proceeds from sales of equity securities |  | $ | 1,356 |  |  | $ | 543 |  |  | $ | 4,622 |
Gains, gross |  | 158 |  |  | 5 |  |  | 3,501 |
Losses, gross |  | (214) |  |  | — |  |  | — |
Unrealized holding gains (losses) on equity securities |  | $ | (1,543) |  |  | $ | 3,776 |  |  | $ | 374 |

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 https://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized gains and losses on investments reported in the statement of income. + References No definition available. + Details
Name: | us-gaap_RealizedGainLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration