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Investment Securities (Tables) | 3 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of 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:
|  | March 31, 2024
(Dollars in thousands) |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value
United States government agency securities |  | $ | 45,412 |  |  | $ | 8 |  |  | $ | (6,032) |  |  | $ | 39,388 |
United States sponsored mortgage-backed securities |  | 99,792 |  |  | 145 |  |  | (11,920) |  |  | 88,017 |
United States treasury securities |  | 106,324 |  |  | — |  |  | (5,761) |  |  | 100,563 |
Municipal securities |  | 117,434 |  |  | — |  |  | (12,943) |  |  | 104,491 |
Corporate debt securities |  | 9,078 |  |  | — |  |  | (130) |  |  | 8,948 |
Other debt securities |  | 7,500 |  |  | — |  |  | — |  |  | 7,500 |
Total available-for-sale debt securities |  | 385,540 |  |  | 153 |  |  | (36,786) |  |  | 348,907 |
Other securities |  | 771 |  |  | — |  |  | — |  |  | 771 |
Investment securities available-for-sale |  | $ | 386,311 |  |  | $ | 153 |  |  | $ | (36,786) |  |  | $ | 349,678 |
|  | December 31, 2023
(Dollars in thousands) |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value
United States government agency securities |  | $ | 44,003 |  |  | $ | 8 |  |  | $ | (5,603) |  |  | $ | 38,408 |
United States sponsored mortgage-backed securities |  | 91,939 |  |  | 992 |  |  | (10,549) |  |  | 82,382 |
United States treasury securities |  | 106,401 |  |  | — |  |  | (6,045) |  |  | 100,356 |
Municipal securities |  | 118,065 |  |  | — |  |  | (11,158) |  |  | 106,907 |
Corporate debt securities |  | 9,076 |  |  | — |  |  | (134) |  |  | 8,942 |
Other debt securities |  | 7,500 |  |  | — |  |  | — |  |  | 7,500 |
Total available-for-sale debt securities |  | 376,984 |  |  | 1,000 |  |  | (33,489) |  |  | 344,495 |
Other securities |  | 780 |  |  | — |  |  | — |  |  | 780 |
Investment securities available-for-sale |  | $ | 377,764 |  |  | $ | 1,000 |  |  | $ | (33,489) |  |  | $ | 345,275 |
The following table presents amortized cost and fair values of available-for-sale debt securities by contractual maturity as of the period shown:
|  | March 31, 2024
(Dollars in thousands) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 96,995 |  |  | $ | 86,803 |
After one year, but within five years |  | 102,365 |  |  | 96,832 |
After five years, but within ten years |  | 41,990 |  |  | 37,664 |
After ten years |  | 144,190 |  |  | 127,608 |
Total available-for-sale debt securities |  | $ | 385,540 |  |  | $ | 348,907 |
Schedule of Investments in an Unrealized Loss Position | The following tables show available-for-sale debt securities in an unrealized loss position for which an ACL has not been recorded as of March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that the individual securities have been in a continuous loss position:
|  | March 31, 2024
(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 (26) |  | $ | 4,363 |  |  | $ | (21) |  |  | $ | 33,669 |  |  | $ | (6,011) |
United States sponsored mortgage-backed securities (54) |  | 19,467 |  |  | (146) |  |  | 48,156 |  |  | (11,774) |
United States treasury securities (23) |  | — |  |  | — |  |  | 100,563 |  |  | (5,761) |
Municipal securities (215) |  | 555 |  |  | (11) |  |  | 86,573 |  |  | (12,932) |
Corporate debt securities (7) |  | 498 |  |  | (2) |  |  | 3,451 |  |  | (128) |
Total |  | $ | 24,883 |  |  | $ | (180) |  |  | $ | 272,412 |  |  | $ | (36,606) |
|  | December 31, 2023
(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 (25) |  | $ | 316 |  |  | $ | — |  |  | $ | 34,619 |  |  | $ | (5,603) |
United States sponsored mortgage-backed securities (47) |  | — |  |  | — |  |  | 50,345 |  |  | (10,549) |
United States treasury securities (23) |  | — |  |  | — |  |  | 100,354 |  |  | (6,045) |
Municipal securities (216) |  | 847 |  |  | (10) |  |  | 106,060 |  |  | (11,148) |
Corporate debt securities (7) |  | 2,009 |  |  | (67) |  |  | 1,933 |  |  | (67) |
Total |  | $ | 3,172 |  |  | $ | (77) |  |  | $ | 293,311 |  |  | $ | (33,412) |
Schedule of Realized Gain (Loss) on Investments | The following table summarizes investment sales, related gains and losses and unrealized holding losses for the periods shown:
|  | Three Months Ended March 31, |  |
(Dollars in thousands) |  | 2024 |  | 2023 |  |  |  |
Proceeds from sales of available-for-sale securities |  | $ | 24,344 |  |  | $ | 54,531 |  |  |  |  |
Gains, gross |  | 658 |  |  | — |  |  |  |  |
Losses, gross |  | — |  |  | 1,536 |  |  |  |  |
Unrealized holding losses on equity securities |  | (49) |  |  | (308) |  |  |  |  |

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