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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Values of Investment Securities Available-for-sale
The following tables present amortized cost and fair values of investment securities available-for-sale as of the periods shown:
June 30, 2023
(Dollars in thousands)Amortized CostUnrealized GainUnrealized LossFair Value
United States government agency securities$44,844 $6 $(6,376)$38,474 
United States sponsored mortgage-backed securities65,715 — (11,349)54,366 
United States treasury securities106,552 — (8,523)98,029 
Municipal securities136,352 4,232 (19,518)121,066 
Corporate debt securities9,071 — (170)8,901 
Other debt securities7,500 — — 7,500 
Total debt securities370,034 4,238 (45,936)328,336 
Other securities801 — — 801 
Total investment securities available-for-sale$370,835 $4,238 $(45,936)$329,137 
December 31, 2022
(Dollars in thousands)Amortized CostUnrealized GainUnrealized LossFair Value
United States government agency securities$51,436 $15 $(6,637)$44,814 
United States sponsored mortgage-backed securities68,267 — (11,696)56,571 
United States treasury securities130,689 48 (9,828)120,909 
Municipal securities157,842 2,412 (21,618)138,636 
Corporate debt securities10,570 10 (20)10,560 
Other debt securities7,500 — — 7,500 
Total debt securities426,304 2,485 (49,799)378,990 
Other securities824 — — 824 
Total investment securities available-for-sale$427,128 $2,485 $(49,799)$379,814 
The following table presents amortized cost and fair values of available-for-sale debt securities by contractual maturity as of the period shown:
June 30, 2023
(Dollars in thousands)Amortized CostFair Value
Within one year$4,704 $4,701 
After one year, but within five years112,082 103,496 
After five years, but within ten years39,867 35,626 
After ten years213,381 184,513 
Total$370,034 $328,336 
Investments in an Unrealized Loss Position
The following tables show available-for-sale debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded as of June 30, 2023 and December 31, 2022, aggregated by investment category and length of time that the individual securities have been in a continuous loss position:
June 30, 2023
(Dollars in thousands)Less than 12 months12 months or more
Description and number of positionsFair ValueUnrealized LossFair ValueUnrealized Loss
United States government agency securities (25)
$272 $— $36,479 $(6,376)
United States sponsored mortgage-backed securities (48)
2,362 (22)52,004 (11,327)
United States treasury securities (23)
— — 98,028 (8,523)
Municipal securities (155)
2,890 (6,810)85,784 (12,708)
Corporate debt securities (7)
2,429 (142)1,472 (28)
Total$7,953 $(6,974)$273,767 $(38,962)
December 31, 2022
(Dollars in thousands)Less than 12 months12 months or more
Description and number of positionsFair ValueUnrealized LossFair ValueUnrealized 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)— — 
Total$108,486 $(10,446)$212,317 $(39,353)
Realized Gain (Loss) on Investments The following table summarizes investment sales, related gains and losses and unrealized holding gains for the periods shown:
Three Months Ended June 30,Six Months Ended June 30,
(Dollars in thousands)2023202220232022
Proceeds from sales of available-for-sale securities$— $— $54,531 $60,635 
Gains, gross— — — 717 
Losses, gross— — 1,536 67 
Proceeds from sales of equity securities$206 $1,100 $206 $1,100 
Gain, gross— 100 — 100 
Losses, gross294 — 294 — 
Unrealized holding gains (losses) on equity securities160 (26)(148)(85)