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Investments (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments [Abstract] |
Unrealized Gain (Loss) on Investments | ​
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(in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Estimated Fair Value
March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 11,036 | ​ | $ | — | ​ | $ | 1,383 | ​ | $ | — | ​ | $ | 9,653
Residential mortgage-backed agencies | ​ | ​ | 44,224 | ​ | ​ | — | ​ | ​ | 6,943 | ​ | ​ | — | ​ | ​ | 37,281
Commercial mortgage-backed agencies | ​ | ​ | 37,151 | ​ | ​ | — | ​ | ​ | 6,657 | ​ | ​ | — | ​ | ​ | 30,494
Collateralized mortgage obligations | ​ | ​ | 25,322 | ​ | ​ | — | ​ | ​ | 4,345 | ​ | ​ | — | ​ | ​ | 20,977
Obligations of states and political subdivisions | ​ | ​ | 10,842 | ​ | ​ | 31 | ​ | ​ | 244 | ​ | ​ | — | ​ | ​ | 10,629
Corporate bonds | ​ | ​ | 1,000 | ​ | ​ | — | ​ | ​ | 170 | ​ | ​ | — | ​ | ​ | 830
Collateralized debt obligations | ​ | ​ | 18,661 | ​ | ​ | — | ​ | ​ | 4,547 | ​ | ​ | — | ​ | ​ | 14,114
Total available for sale | ​ | $ | 148,236 | ​ | $ | 31 | ​ | $ | 24,289 | ​ | $ | — | ​ | $ | 123,978
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  | Estimated Fair Value |  | Allowance for Credit Losses
March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to Maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. treasuries | ​ | $ | 37,268 | ​ | $ | — | ​ | $ | 1,245 | ​ | $ | 36,023 | ​ | $ | —
U.S. government agencies | ​ | ​ | 67,803 | ​ | ​ | — | ​ | ​ | 10,975 | ​ | ​ | 56,828 | ​ | ​ | —
Residential mortgage-backed agencies | ​ | ​ | 27,624 | ​ | ​ | 1 | ​ | ​ | 3,039 | ​ | ​ | 24,586 | ​ | ​ | —
Commercial mortgage-backed agencies | ​ | ​ | 21,635 | ​ | ​ | — | ​ | ​ | 4,566 | ​ | ​ | 17,069 | ​ | ​ | —
Collateralized mortgage obligations | ​ | ​ | 56,128 | ​ | ​ | — | ​ | ​ | 9,029 | ​ | ​ | 47,099 | ​ | ​ | —
Obligations of states and political subdivisions | ​ | ​ | 22,625 | ​ | ​ | 845 | ​ | ​ | 534 | ​ | ​ | 22,936 | ​ | ​ | —
Total held to maturity | ​ | $ | 233,083 | ​ | $ | 846 | ​ | $ | 29,388 | ​ | $ | 204,541 | ​ | $ | —
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​ ​
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(in thousands) |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | OTTI in AOCL
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 11,044 | ​ | $ | — | ​ | $ | 1,582 | ​ | $ | 9,462 | ​ | $ | —
Residential mortgage-backed agencies | ​ | ​ | 45,052 | ​ | ​ | — | ​ | ​ | 7,651 | ​ | ​ | 37,401 | ​ | ​ | —
Commercial mortgage-backed agencies | ​ | ​ | 37,393 | ​ | ​ | — | ​ | ​ | 6,661 | ​ | ​ | 30,732 | ​ | ​ | —
Collateralized mortgage obligations | ​ | ​ | 25,828 | ​ | ​ | — | ​ | ​ | 4,784 | ​ | ​ | 21,044 | ​ | ​ | —
Obligations of states and political subdivisions | ​ | ​ | 10,848 | ​ | ​ | 4 | ​ | ​ | 360 | ​ | ​ | 10,492 | ​ | ​ | —
Corporate Bonds | ​ | ​ | 1,000 | ​ | ​ | — | ​ | ​ | 113 | ​ | ​ | 887 | ​ | ​ | —
Collateralized debt obligations | ​ | ​ | 18,664 | ​ | ​ | — | ​ | ​ | 2,793 | ​ | ​ | 15,871 | ​ | ​ | (1,695)
Total available for sale | ​ | $ | 149,829 | ​ | $ | 4 | ​ | $ | 23,944 | ​ | $ | 125,889 | ​ | $ | (1,695)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  | Fair Value |  | OTTI in AOCL
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to Maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. treasuries | ​ | $ | 37,204 | ​ | $ | — | ​ | $ | 1,593 | ​ | $ | 35,611 | ​ | $ | —
U.S. government agencies | ​ | ​ | 67,734 | ​ | ​ | — | ​ | ​ | 13,261 | ​ | ​ | 54,473 | ​ | ​ | —
Residential mortgage-backed agencies | ​ | ​ | 28,624 | ​ | ​ | 1 | ​ | ​ | 3,503 | ​ | ​ | 25,122 | ​ | ​ | —
Commercial mortgage-backed agencies | ​ | ​ | 22,389 | ​ | ​ | — | ​ | ​ | 4,568 | ​ | ​ | 17,821 | ​ | ​ | —
Collateralized mortgage obligations | ​ | ​ | 57,085 | ​ | ​ | — | ​ | ​ | 10,001 | ​ | ​ | 47,084 | ​ | ​ | —
Obligations of states and political subdivisions | ​ | ​ | 22,623 | ​ | ​ | 946 | ​ | ​ | 600 | ​ | ​ | 22,969 | ​ | ​ | —
Total held to maturity | ​ | $ | 235,659 | ​ | $ | 947 | ​ | $ | 33,526 | ​ | $ | 203,080 | ​ | $ | —
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​
Gross Unrealized Losses and Fair Values of Securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more
(in thousands) |  | Fair Value |  | Unrealized Losses |  | Number of Investments |  | Fair Value |  | Unrealized Losses |  | Number of Investments
March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | — | ​ | $ | — | ​ | — | ​ | $ | 9,653 | ​ | $ | 1,383 | ​ | 3
Residential mortgage-backed agencies | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 37,281 | ​ | ​ | 6,943 | ​ | 5
Commercial mortgage-backed agencies | ​ | ​ | 1,796 | ​ | ​ | 102 | ​ | 1 | ​ | ​ | 28,698 | ​ | ​ | 6,555 | ​ | 8
Collateralized mortgage obligations | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 20,977 | ​ | ​ | 4,345 | ​ | 10
Obligations of states and political subdivisions | ​ | ​ | 3,240 | ​ | ​ | 158 | ​ | 2 | ​ | ​ | 3,882 | ​ | ​ | 86 | ​ | 2
Corporate Bonds | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 830 | ​ | ​ | 170 | ​ | 1
Collateralized debt obligations | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 14,114 | ​ | ​ | 4,547 | ​ | 9
Total available for sale | ​ | $ | 5,036 | ​ | $ | 260 | ​ | 3 | ​ | $ | 115,435 | ​ | $ | 24,029 | ​ | 38
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more
(in thousands) |  | Fair Value |  | Unrecognized Losses |  | Number of Investments |  | Fair Value |  | Unrecognized Losses |  | Number of Investments
March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to Maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. treasuries | ​ | $ | — | ​ | ​ | — | ​ | — | ​ | $ | 36,023 | ​ | $ | 1,245 | ​ | 4
U.S. government agencies | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 56,828 | ​ | ​ | 10,975 | ​ | 9
Residential mortgage-backed agencies | ​ | ​ | 3,122 | ​ | ​ | 81 | ​ | 2 | ​ | ​ | 21,374 | ​ | ​ | 2,958 | ​ | 33
Commercial mortgage-backed agencies | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 17,069 | ​ | ​ | 4,566 | ​ | 2
Collateralized mortgage obligations | ​ | ​ | 2,550 | ​ | ​ | 137 | ​ | 1 | ​ | ​ | 44,549 | ​ | ​ | 8,892 | ​ | 7
Obligations of states and political subdivisions | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 2,337 | ​ | ​ | 534 | ​ | 1
Total held to maturity | ​ | $ | 5,672 | ​ | ​ | 218 | ​ | 3 | ​ | $ | 178,180 | ​ | $ | 29,170 | ​ | 56
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more
(in thousands) |  | Fair Value |  | Unrealized Losses |  | Number of Investments |  | Fair Value |  | Unrealized Losses |  | Number of Investments
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 4,598 | ​ | $ | 402 | ​ | 1 | ​ | $ | 4,865 | ​ | $ | 1,180 | ​ | 2
Residential mortgage-backed agencies | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 37,401 | ​ | ​ | 7,651 | ​ | 5
Commercial mortgage-backed agencies | ​ | ​ | 4,044 | ​ | ​ | 455 | ​ | 3 | ​ | ​ | 26,688 | ​ | ​ | 6,206 | ​ | 6
Collateralized mortgage obligations | ​ | ​ | 1,600 | ​ | ​ | 210 | ​ | 5 | ​ | ​ | 19,444 | ​ | ​ | 4,574 | ​ | 5
Obligations of states and political subdivisions | ​ | ​ | 8,906 | ​ | ​ | 360 | ​ | 7 | ​ | ​ | — | ​ | ​ | — | ​ | —
Corporate Bonds | ​ | ​ | 887 | ​ | ​ | 113 | ​ | 1 | ​ | ​ | — | ​ | ​ | — | ​ | —
Collateralized debt obligations | ​ | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 15,871 | ​ | ​ | 2,793 | ​ | 9
Total available for sale | ​ | $ | 20,035 | ​ | $ | 1,540 | ​ | 17 | ​ | $ | 104,269 | ​ | $ | 22,404 | ​ | 27
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more
(in thousands) |  | Fair Value |  | Unrecognized Losses |  | Number of Investments |  | Fair Value |  | Unrecognized Losses |  | Number of Investments
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Held to Maturity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. treasuries | ​ | $ | — | ​ | $ | — | ​ | — | ​ | $ | 35,611 | ​ | $ | 1,593 | ​ | 4
U.S. government agencies | ​ | ​ | 38,883 | ​ | ​ | 9,617 | ​ | 7 | ​ | ​ | 15,591 | ​ | ​ | 3,644 | ​ | 2
Residential mortgage-backed agencies | ​ | ​ | 16,893 | ​ | ​ | 1,425 | ​ | 29 | ​ | ​ | 8,138 | ​ | ​ | 2,078 | ​ | 7
Commercial mortgage-backed agencies | ​ | ​ | 17,821 | ​ | ​ | 4,568 | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | —
Collateralized mortgage obligations | ​ | ​ | 47,083 | ​ | ​ | 10,001 | ​ | 8 | ​ | ​ | — | ​ | ​ | — | ​ | —
Obligations of states and political subdivisions | ​ | ​ | 2,269 | ​ | ​ | 600 | ​ | 1 | ​ | ​ | — | ​ | ​ | — | ​ | —
Total held to maturity | ​ | $ | 122,949 | ​ | $ | 26,211 | ​ | 48 | ​ | $ | 59,340 | ​ | $ | 7,315 | ​ | 13
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Non-Cash OTTI Credit Losses Recognized in Earnings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
(in thousands) |  | 2023 |  | 2022
Balance of credit-related OTTI at January 1 | ​ | $ | 1,841 | ​ | $ | 2,043
Reduction for increases in cash flows expected to be collected | ​ | ​ | (50) | ​ | ​ | (50)
Balance of credit-related OTTI at March 31 | ​ | $ | 1,791 | ​ | $ | 1,993
​
Amortized Cost and Fair Values Classified by Contractual Maturity Date | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2023
(in thousands) |  | Amortized Cost |  | Fair Value
Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | 340 | ​ | $ | 340
Due after one year through five years | ​ | ​ | 11,956 | ​ | ​ | 11,151
Due after five years through ten years | ​ | ​ | 1,895 | ​ | ​ | 1,729
Due after ten years | ​ | ​ | 27,348 | ​ | ​ | 22,006
​ | ​ | ​ | 41,539 | ​ | ​ | 35,226
Residential mortgage-backed agencies | ​ | ​ | 44,224 | ​ | ​ | 37,281
Commercial mortgage-backed agencies | ​ | ​ | 37,151 | ​ | ​ | 30,494
Collateralized mortgage obligations | ​ | ​ | 25,322 | ​ | ​ | 20,977
Total available for sale | ​ | $ | 148,236 | ​ | $ | 123,978
Held to Maturity: | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | 29,813 | ​ | $ | 28,847
Due after one year through five years | ​ | ​ | 19,955 | ​ | ​ | 18,674
Due after five years through ten years | ​ | ​ | 33,058 | ​ | ​ | 28,028
Due after ten years | ​ | ​ | 44,870 | ​ | ​ | 40,238
​ | ​ | ​ | 127,696 | ​ | ​ | 115,787
Residential mortgage-backed agencies | ​ | ​ | 27,624 | ​ | ​ | 24,586
Commercial mortgage-backed agencies | ​ | ​ | 21,635 | ​ | ​ | 17,069
Collateralized mortgage obligations | ​ | ​ | 56,128 | ​ | ​ | 47,099
Total held to maturity | ​ | $ | 233,083 | ​ | $ | 204,541

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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27340-111563 + Details
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