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Investments (Tables)
 9 Months Ended
Sep. 30, 2021
Schedule of Investments [Abstract]  
Schedule of Available-for-sale Securities

A summary of investment securities available-for-sale is as follows:

 

   As of September 30, 2021
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
(Dollars in thousands)  cost   gains   losses   fair value 
                 
U. S. treasury securities  $40,397   $11   $(94)  $40,314 
U. S. federal agency obligations   17,211    95    (9)   17,297 
Municipal obligations, tax exempt   135,818    4,999    (29)   140,788 
Municipal obligations, taxable   37,599    1,447    (58)   38,988 
Agency mortgage-backed securities   132,034    1,904    (436)   133,502 
Certificates of deposit   7,629    -    -    7,629 
Total available-for-sale  $370,688   $8,456   $(626)  $378,518 

 

   As of December 31, 2020
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
(Dollars in thousands)  cost   gains   losses   fair value 
                 
U. S. treasury securities  $2,000   $37   $-   $2,037 
U. S. federal agency obligations   18,804    138    (18)   18,924 
Municipal obligations, tax exempt   136,321    6,367    (12)   142,676 
Municipal obligations, taxable   46,643    2,892    -    49,535 
Agency mortgage-backed securities   75,530    3,108    -    78,638 
Certificates of deposit   5,460    -    -    5,460 
Total available-for-sale  $284,758   $12,542   $(30)  $297,270 
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value

   As of September 30, 2021 
(Dollars in thousands)  Less than 12 months   12 months or longer   Total 
   No. of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
   securities   value   losses   value   losses   value   losses 
U.S. treasury securities   15   $28,065   $(94)  $-   $-   $28,065   $(94)
U.S. federal agency obligations   4    7,125    (7)   3,068    (2)   10,193    (9)
Municipal obligations, tax exempt   25    8,628    (28)   280    (1)   8,908    (29)
Municipal obligations, taxable   8    4,781    (58)   -    -    4,781    (58)
Agency mortgage-backed securities   21    72,908    (436)   -    -    72,908    (436)
Total   73   $121,507   $(623)  $3,348   $(3)  $124,855   $(626)

 

   As of December 31, 2020 
(Dollars in thousands)  Less than 12 months   12 months or longer   Total 
   No. of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
   securities   value   losses   value   losses   value   losses 
U.S. federal agency obligations   4   $11,772   $(18)  $-   $-   $11,772   $(18)
Municipal obligations, tax exempt   12    4,191    (12)   -    -    4,191    (12)
Total   16   $15,963   $(30)  $-   $-   $15,963   $(30)
Schedule of Investments Classified by Contractual Maturity Date

The table below sets forth amortized cost and fair value of investment securities at September 30, 2021. The table includes scheduled principal payments and estimated prepayments, based on observable market inputs, for agency mortgage-backed securities. Actual maturities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties.

 

(Dollars in thousands)  Amortized   Estimated 
   cost   fair value 
Due in less than one year  $29,938   $30,020 
Due after one year but within five years   232,658    235,528 
Due after five years but within ten years   52,948    55,177 
Due after ten years   55,144    57,793 
Total  $370,688   $378,518 
Schedule of Realized Gain (loss)

Sales proceeds and gross realized gains and losses on sales of available-for-sale securities were as follows for the periods indicated:

 

   2021   2020   2021   2020 
(Dollars in thousands) 

Three months ended

September 30,

  

Nine months ended

September 30,

 
   2021   2020   2021   2020 
                 
Sales proceeds  $1,400   $16,655   $16,623   $61,164 
                     
Realized gains  $30   $678   $1,138   $2,450 
Realized losses   -    -    -    (2)
Net realized gains  $30   $678   $1,138   $2,448