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Investment Securities (Tables)
 9 Months Ended
Sep. 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:
September 30, 2023
(Dollars in thousands)Amortized CostUnrealized GainUnrealized LossFair Value
United States government agency securities$44,360 $8 $(7,228)$37,140 
United States sponsored mortgage-backed securities73,911 — (13,430)60,481 
United States treasury securities106,476 — (8,376)98,100 
Municipal securities118,872 1,064 (21,312)98,624 
Corporate debt securities9,073 — (172)8,901 
Other debt securities7,500 — — 7,500 
Total debt securities360,192 1,072 (50,518)310,746 
Other securities791 — — 791 
Total investment securities available-for-sale$360,983 $1,072 $(50,518)$311,537 
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:
September 30, 2023
(Dollars in thousands)Amortized CostFair Value
Within one year$4,794 $4,793 
After one year, but within five years111,991 103,552 
After five years, but within ten years40,598 35,557 
After ten years202,809 166,844 
Total$360,192 $310,746 
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 September 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:
September 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)
$356 $— $35,155 $(7,228)
United States sponsored mortgage-backed securities (48)
2,249 (90)48,493 (13,340)
United States treasury securities (23)
— — 98,100 (8,376)
Municipal securities (196)
10,036 (3,828)80,624 (17,484)
Corporate debt securities (7)
1,971 (102)1,930 (70)
Total$14,612 $(4,020)$264,302 $(46,498)
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 $(39,353)
Realized Gain (Loss) on Investments The following table summarizes investment sales, related gains and losses and unrealized holding gains for the periods shown:
Three Months Ended September 30,Nine Months Ended September 30,
(Dollars in thousands)2023202220232022
Proceeds from sales of available-for-sale securities$— $— $54,531 $60,635 
Gains, gross— — — 717 
Losses, gross— — 1,536 67 
Proceeds from sales of equity securities$360 $161 $566 $1,261 
Gain, gross25 58 25 158 
Losses, gross— 214 294 214 
Unrealized holding gains (losses) on equity securities219 (61)71 (146)