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Investment Securities (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Value of Debt Securities Available-For-Sale | The amortized cost, gross unrealized gains and losses, and fair value of debt securities classified as available-for-sale at December 31, 2023 and 2022 were as follows:
| Total Amortized Cost |  | Gross Unrealized |  | Fair Value
(in thousands) |  | Gains |  | Losses |
December 31, 2023 |  |  |  |  |  |  |
U.S. Treasury | $ | 1,977 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1,978 |
U.S. government and federal agency obligations | 446 |  |  | — |  |  | (19) |  |  | 427 |
U.S. government-sponsored enterprises | 22,042 |  |  | 16 |  |  | (236) |  |  | 21,822 |
Obligations of states and political subdivisions | 126,396 |  |  | 55 |  |  | (19,566) |  |  | 106,885 |
Mortgage-backed securities | 51,736 |  |  | 27 |  |  | (6,123) |  |  | 45,640 |
Other debt securities (a) | 11,825 |  |  | 22 |  |  | (1,026) |  |  | 10,821 |
Bank issued trust preferred securities (a) | 1,486 |  |  | — |  |  | (317) |  |  | 1,169 |
Total available-for-sale securities | $ | 215,908 |  |  | $ | 121 |  |  | $ | (27,287) |  |  | $ | 188,742 |
December 31, 2022 |  |  |  |  |  |  |
U.S. Treasury | $ | 2,198 |  |  | $ | — |  |  | $ | (46) |  |  | $ | 2,152 |
U.S. government and federal agency obligations | 591 |  |  | — |  |  | (32) |  |  | 559 |
U.S. government-sponsored enterprises | 26,499 |  |  | — |  |  | (2,722) |  |  | 23,777 |
Obligations of states and political subdivisions | 134,994 |  |  | — |  |  | (25,554) |  |  | 109,440 |
Mortgage-backed securities | 119,556 |  |  | 7 |  |  | (16,864) |  |  | 102,699 |
Other debt securities (a) | 11,825 |  |  | — |  |  | (882) |  |  | 10,943 |
Bank issued trust preferred securities (a) | 1,486 |  |  | — |  |  | (309) |  |  | 1,177 |
Total available-for-sale securities | $ | 297,149 |  |  | $ | 7 |  |  | $ | (46,409) |  |  | $ | 250,747 |
(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 | $ | 2,102 |  |  | $ | 2,102 |
Due after one year through five years | 25,465 |  |  | 25,346 |
Due after five years through ten years | 26,216 |  |  | 23,779 |
Due after ten years | 110,389 |  |  | 91,875 |
Total | 164,172 |  |  | 143,102 |
Mortgage-backed securities | 51,736 |  |  | 45,640 |
Total available-for-sale securities | $ | 215,908 |  |  | $ | 188,742 |
Schedule of Other Securities |
(in thousands) | 2023 |  | 2022
Other securities: |  |  |
FHLB stock | $ | 6,071 |  |  | $ | 6,156 |
MIB stock | 151 |  |  | 151 |
Equity securities with readily determinable fair values | 78 |  |  | 46 |
Total other investment securities | $ | 6,300 |  |  | $ | 6,353 |
Schedule of Unrealized Losses | 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 December 31, 2023 and December 31, 2022 were as follows:
| Less than 12 months |  | 12 months or more |  | Total Fair Value |  | Total Unrealized Losses
(in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 997 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 997 |  |  | $ | — |
U.S. government and federal agency obligations | — |  |  | — |  |  | 427 |  |  | (19) |  |  | 427 |  |  | (19) |
U.S. government-sponsored enterprises | 11,995 |  |  | (8) |  |  | 1,772 |  |  | (228) |  |  | 13,767 |  |  | (236) |
Obligations of states and political subdivisions | 1,501 |  |  | (158) |  |  | 103,283 |  |  | (19,408) |  |  | 104,784 |  |  | (19,566) |
Mortgage-backed securities | 2,935 |  |  | (40) |  |  | 39,793 |  |  | (6,083) |  |  | 42,728 |  |  | (6,123) |
Other debt securities | — |  |  | — |  |  | 8,799 |  |  | (1,026) |  |  | 8,799 |  |  | (1,026) |
Bank issued trust preferred securities | — |  |  | — |  |  | 1,169 |  |  | (317) |  |  | 1,169 |  |  | (317) |
Total | $ | 17,428 |  |  | $ | (206) |  |  | $ | 155,243 |  |  | $ | (27,081) |  |  | $ | 172,671 |  |  | $ | (27,287) |
(in thousands) |  |  |  |  |  |  |  |  |  |  |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury | $ | 1,908 |  |  | $ | (41) |  |  | $ | 244 |  |  | $ | (5) |  |  | $ | 2,152 |  |  | $ | (46) |
U.S. government and federal agency obligations | 559 |  |  | (32) |  |  | — |  |  | — |  |  | 559 |  |  | (32) |
U.S. government-sponsored enterprises | 7,066 |  |  | (933) |  |  | 16,711 |  |  | (1,789) |  |  | 23,777 |  |  | (2,722) |
Obligations of states and political subdivisions | 79,396 |  |  | (15,421) |  |  | 29,370 |  |  | (10,133) |  |  | 108,766 |  |  | (25,554) |
Mortgage-backed securities | 33,334 |  |  | (3,124) |  |  | 68,911 |  |  | (13,740) |  |  | 102,245 |  |  | (16,864) |
Other debt securities | 7,557 |  |  | (443) |  |  | 3,386 |  |  | (439) |  |  | 10,943 |  |  | (882) |
Bank issued trust preferred securities | — |  |  | — |  |  | 1,177 |  |  | (309) |  |  | 1,177 |  |  | (309) |
Total | $ | 129,820 |  |  | $ | (19,994) |  |  | $ | 119,799 |  |  | $ | (26,415) |  |  | $ | 249,619 |  |  | $ | (46,409) |
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:
(in thousands) | 2023 |  | 2022 |  | 2021
Available-for-sale securities: |  |  |  |  |
Gross realized gains | $ | — |  | $ | — |  | $ | 122
Gross realized losses | (11,562) |  | — |  | —
Other-than-temporary impairment recognized | — |  | — |  | —
Other investment securities: |  |  |  |  |
Fair value adjustments, net | 32 |  | (14) |  | 27
Certificates of deposit: |  |  |  |  |
Gross realized gains | — |  | — |  | —
Gross realized losses | (17) |  | — |  | —
Investment securities (losses) gains, net | $ | (11,547) |  | $ | (14) |  | $ | 149

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