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Investment Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investment Securities

Investment securities available for sale

(Dollars in thousands)
		December 31, 2023
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasuries		$	10,974				-				830				10,144
U.S. Government sponsored enterprises			11,111				-				596				10,515
GSE - Mortgage-backed securities			257,705				185				22,988				234,902
Private label mortgage-backed securities			33,317				16				2,063				31,270
State and political subdivisions			129,922				-				24,829				105,093
Total		$	443,029				201				51,306				391,924

(Dollars in thousands)
		December 31, 2022
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasuries		$	10,951				-				1,137				9,814
U.S. Government sponsored enterprises			12,245				-				706				11,539
GSE - Mortgage-backed securities			263,712				445				23,657				240,500
Private label mortgage-backed securities			35,510				-				2,172				33,338
State and political subdivisions			184,768				91				34,656				150,203
Total		$	507,186				536				62,328				445,394

current fair value and associated unrealized losses on investments in debt securities with unrealized losses

(Dollars in thousands)
		December 31, 2023
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
U.S. Treasuries		$	-				-				10,144				830				10,144				830
U.S. government sponsored enterprises			-				-				10,515				596				10,515				596
GSE -Mortgage-backed securities			24,167				546				203,234				22,442				227,401				22,988
Private label mortgage-backed securities			3,416				43				23,095				2,020				26,511				2,063
State and political subdivisions			-				-				105,093				24,829				105,093				24,829
Total		$	27,583				589				352,081				50,717				379,664				51,306

		December 31, 2022
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
U.S. Treasuries		$	2,878				104				6,936				1,033				9,814				1,137
U.S. government sponsored enterprises			2,904				87				8,635				619				11,539				706
GSE -Mortgage-backed securities			94,903				6,568				120,464				17,089				215,367				23,657
Private label mortgage-backed securities			33,338				2,172				-				-				33,338				2,172
State and political subdivisions			65,880				7,766				76,291				26,890				142,171				34,656
Total		$	199,903				16,697				212,326				45,631				412,229				62,328

Amortized cost and estimated fair value of investment securities available for sale by contractual maturity

December 31, 2023
(Dollars in thousands)
		Amortized Cost				Fair Value
Due within one year		$	2,998				2,989
Due from one to five years			19,214				17,758
Due from five to ten years			53,239				45,184
Due after ten years			76,556				59,821
Mortgage-backed securities			291,022				266,172
Total		$	443,029				391,924

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs

(Dollars in thousands)
		December 31, 2023
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
U.S. Treasuries		$	10,144				-				10,144				-
U.S. Government sponsored enterprises			10,515				-				10,515				-
GSE - Mortgage-backed securities			234,902				-				234,902				-
Private label mortgage-backed securities			31,270				-				31,270				-
State and political subdivisions			105,093				-				105,093				-

(Dollars in thousands)
		December 31, 2022
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
U.S. Treasuries		$	9,814				-				9,814				-
U.S. Government sponsored enterprises			11,539				-				11,539				-
GSE - Mortgage-backed securities			240,500				-				240,500				-
Private label mortgage-backed securities			33,338				-				33,338				-
State and political subdivisions			150,203				-				150,203				-

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