
(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


(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


	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

The table above reflects contractual maturities. Actual results will differ as the loans underlying the mortgage-backed securities may repay sooner than scheduled.

Investment securities with a carrying value of $247.4 million and $223.4 million at December 31, 2024 and 2023, respectively, were pledged to secure public funds, repurchase agreements and potential borrowings at the Federal Reserve discount window.

Our investment portfolio includes securities that are in an unrealized loss position as of December 31, 2024. We evaluate available-for-sale debt securities to determine whether the unrealized loss is due to credit-related factors or non-credit-related factors. When determining the ACL on securities, we consider such factors as adverse conditions specifically related to a certain security or to specific conditions in an industry or geographic area, our ability to hold the security for a period of time sufficient to allow for anticipated recovery in value, whether or not the security has been downgraded by a rating agency and whether or not the financial condition of the security issuer has severely deteriorated.

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	$	—

Although the available-for-sale debt securities in an unrealized loss position would result in a pretax loss of $34.1 million if sold at December 31, 2024, we have no intent to sell the applicable securities at such fair values, and maintain that we have the ability to hold these securities until all principal has been recovered. It is more likely than not that we will not, for liquidity purposes, sell any securities at a loss. Declines in the fair values of these securities can be attributed to general market conditions, which reflect the prospect for the economy as a whole, rather than credit-related conditions. Therefore, we have no ACL as of December 31, 2024.

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)


(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)