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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

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

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

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