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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of 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, 2024 are summarized as follows:
(Dollars in thousands) |  | Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Fair Value
United States government agency securities |  | $ | 45,449 |  |  | $ | 10 |  |  | $ | (5,613) |  |  | $ | 39,846 |
United States sponsored mortgage-backed securities |  | 161,032 |  |  | 130 |  |  | (13,582) |  |  | 147,580 |
United States treasury securities |  | 106,095 |  |  | — |  |  | (2,120) |  |  | 103,975 |
Municipal securities |  | 114,845 |  |  | 28 |  |  | (12,733) |  |  | 102,140 |
Corporate debt securities |  | 9,943 |  |  | 67 |  |  | (92) |  |  | 9,918 |
Other debt securities |  | 7,500 |  |  | — |  |  | — |  |  | 7,500 |
Total debt securities |  | 444,864 |  |  | 235 |  |  | (34,140) |  |  | 410,959 |
Other securities |  | 681 |  |  | — |  |  | — |  |  | 681 |
Total investment securities available-for-sale |  | $ | 445,545 |  |  | $ | 235 |  |  | $ | (34,140) |  |  | $ | 411,640 |
Amortized cost and fair values of investment securities available-for-sale at December 31, 2023 are summarized as follows:
(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 debt securities |  | 376,984 |  |  | 1,000 |  |  | (33,489) |  |  | 344,495 |
Other securities |  | 780 |  |  | — |  |  | — |  |  | 780 |
Total investment securities available-for-sale |  | $ | 377,764 |  |  | $ | 1,000 |  |  | $ | (33,489) |  |  | $ | 345,275 |
The following table summarizes amortized cost and fair values of debt securities by maturity:
|  | December 31, 2024
|  | Available for sale
(Dollars in thousands) |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 99,287 |  |  | $ | 97,511 |
After one year, but within five years |  | 18,397 |  |  | 17,400 |
After five years, but within ten years |  | 46,838 |  |  | 42,705 |
After ten years |  | 280,342 |  |  | 253,343 |
Total |  | $ | 444,864 |  |  | $ | 410,959 |
Schedule of Debt Securities, Available-for-Sale, Allowance for Credit Loss | The following table summarizes the activity in the ACL related to available-for-sale debt securities during the twelve months ended December 31, 2024. There was no activity in the ACL related to available-for-sale debt securities during the twelve months ended December 31, 2023.
(Dollars in thousands) |  | Twelve Months Ended December 31, 2024
ACL, beginning of period |  | $ | — |
Provision for credit losses |  | 1,000 |
Charge-offs |  | (1,000) |
ACL, end of period |  | $ | — |
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 December 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:
(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 (28) |  | $ | 5,956 |  |  | $ | (264) |  |  | $ | 32,854 |  |  | $ | (5,349) |
United States sponsored mortgage-backed securities (75) |  | 92,929 |  |  | (2,291) |  |  | 44,444 |  |  | (11,291) |
United States treasury securities (23) |  | — |  |  | — |  |  | 103,975 |  |  | (2,120) |
Municipal securities (201) |  | 17,613 |  |  | (1,425) |  |  | 83,592 |  |  | (11,308) |
Corporate debt securities (6) |  | 990 |  |  | (10) |  |  | 2,818 |  |  | (82) |
|  | $ | 117,488 |  |  | $ | (3,990) |  |  | $ | 267,683 |  |  | $ | (30,150) |
(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 securities (7) |  | 2,009 |  |  | (67) |  |  | 1,933 |  |  | (67) |
|  | $ | 3,172 |  |  | $ | (77) |  |  | $ | 293,311 |  |  | $ | (33,412) |
Schedule of Realized Gain (Loss) on Investments | The following table summarizes the investment sales and related gains and losses in 2024, 2023 and 2022:
(Dollars in thousands) |  | 2024 |  | 2023 |  | 2022
Proceeds from sales of available-for-sale securities |  | $ | 24,327 |  |  | $ | 54,531 |  |  | $ | 60,635 |
Gains, gross |  | 658 |  |  | — |  |  | 717 |
Losses, gross |  | — |  |  | (1,536) |  |  | (67) |
Proceeds from sales of equity securities |  | $ | 143 |  |  | $ | 566 |  |  | $ | 1,356 |
Gains, gross |  | 103 |  |  | 25 |  |  | 158 |
Losses, gross |  | — |  |  | (294) |  |  | (214) |
Unrealized holding gains (losses) on equity securities |  | $ | 1,184 |  |  | $ | 146 |  |  | $ | (1,543) |

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