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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Value of Debt Securities Available-for-Sale

The amortized cost and fair value of debt securities classified as available-for-sale at June 30, 2022 and December 31, 2021 were as follows:

									Gross Unrealized
(in thousands)			Total Amortized Cost						Gains						Losses						Fair Value
June 30, 2022
U.S. Treasury			$	3,807					$	—					$	(32)					$	3,775
U.S. government and federal agency obligations			1,013						—						(51)						962
U.S. government-sponsored enterprises			26,498						—						(1,878)						24,620
Obligations of states and political subdivisions			136,034						3						(23,932)						112,105
Mortgage-backed securities			125,404						22						(12,428)						112,998
Other debt securities (a)			11,825						115						(362)						11,578
Bank issued trust preferred securities (a)			1,486						—						(250)						1,236
Total available-for-sale securities			$	306,067					$	140					$	(38,933)					$	267,274
December 31, 2021
U.S. Treasury			$	3,909					$	11					$	(3)					$	3,917
U.S. government and federal agency obligations			1,314						5						—						1,319
U.S. government-sponsored enterprises			26,498						70						(196)						26,372
Obligations of states and political subdivisions			128,093						1,605						(474)						129,224
Mortgage-backed securities			137,286						791						(1,611)						136,466
Other debt securities (a)			11,825						482						(23)						12,284
Bank issued trust preferred securities (a)			1,486						—						(198)						1,288
Total available-for-sale securities			$	310,411					$	2,964					$	(2,505)					$	310,870

(a) Certain hybrid instruments possessing characteristics typically associated with debt obligations.

Schedule of Amortized Cost and Fair Value of Debt Securities Classified as Available-for-Sale by Contractual Maturity

Expected maturities may differ from contractual maturities because borrowers have the right to call or prepay obligations with or without prepayment penalties.

(in thousands)			Amortized Cost						Fair Value
Due in one year or less			$	5,009					$	4,998
Due after one year through five years			24,407						23,486
Due after five years through ten years			29,238						27,424
Due after ten years			122,009						98,368
Total			180,663						154,276
Mortgage-backed securities			125,404						112,998
Total available-for-sale securities			$	306,067					$	267,274

Schedule of Other Securities

Investments in FHLB stock, and Midwest Independent Bank (MIB) bankers bank stock, that do not have readily determinable fair values, are required for membership in those organizations.

(in thousands)			June 30, 2022						December 31, 2021
Other securities:
FHLB stock			$	4,911					$	5,197
MIB stock			151						151
Equity securities with readily determinable fair values			47						60
Total other investment securities			$	5,109					$	5,408

Schedule of Gross Unrealized Losses on Debt Securities and Fair Value of Related Securities Aggregated by Investment Category and Length of Time that Individual Securities have been in a Continuous Unrealized Loss Position

Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2022 and December 31, 2021 were as follows:

			Less than 12 months												12 months or more
(in thousands)			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Total Fair Value						Total Unrealized Losses
June 30, 2022
U.S. Treasury			$	3,775					$	(32)					$	—					$	—					$	3,775					$	(32)
U.S. government and federal agency obligations			962						(51)						—						—						962						(51)
U.S. government-sponsored enterprises			20,271						(1,227)						4,349						(651)						24,620						(1,878)
Obligations of states and political subdivisions			102,049						(20,817)						8,011						(3,115)						110,060						(23,932)
Mortgage-backed securities			82,022						(7,412)						27,922						(5,016)						109,944						(12,428)
Other debt securities			4,463						(362)						—						—						4,463						(362)
Bank issued trust preferred securities			—						—						1,236						(250)						1,236						(250)
Total			$	213,542					$	(29,901)					$	41,518					$	(9,032)					$	255,060					$	(38,933)
(in thousands)
December 31, 2021
U.S. Treasury			$	1,758					$	(3)					$	—					$	—					$	1,758					$	(3)
U.S. government-sponsored enterprises			18,304						(196)						—						—						18,304						(196)
Obligations of states and political subdivisions			39,221						(474)						—						—						39,221						(474)
Mortgage-backed securities			89,520						(1,579)						1,864						(32)						91,384						(1,611)
Other debt securities			3,802						(23)						—						—						3,802						(23)
Bank issued trust preferred securities			—						—						1,288						(198)						1,288						(198)
Total			$	152,605					$	(2,275)					$	3,152					$	(230)					$	155,757					$	(2,505)

Schedule of Components of Investment Securities Gains and Losses

The following table presents the gross realized gains and losses from sales and calls of available-for-sale securities, as well as gains and losses on equity securities from fair value adjustments which have been recognized in earnings:

			Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)			2022						2021						2022						2021
Investment securities (losses) gains, net
Available-for-sale securities:
Gross realized gains			$	—					$	—					$	—					$	2
Gross realized losses			—						—						—						—
Other-than-temporary impairment recognized			—						—						—						—
Other investment securities:
Fair value adjustments, net			(9)						—						(13)						13
Investment securities (losses) gains, net			$	(9)					$	—					$	(13)					$	15

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455

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Tabular disclosure of the investment holdings which are represented by other than securities (for example, commodities). The investment holdings, other than securities investments table lists the long positions of non-security investments held by entity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 5D
-Subparagraph (SX 210.12-13D)
-URI https://asc.fasb.org/extlink&oid=122147990&loc=SL120429264-123010

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Tabular disclosure of realized gains and losses on investments reported in the statement of income.

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