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v3.22.2.2

Investments (Tables) | 9 Months Ended
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Sep. 30, 2022
Schedule of Investments [Abstract] |
Schedule of Available-for-sale Securities | A summary of investment securities available-for-sale is as follows: Schedule of Available-for-sale Securities
|  | As of September 30, 2022 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
(Dollars in thousands) |  | cost |  |  | gains |  |  | losses |  |  | fair value |
U. S. treasury securities |  | $ | 136,007 |  |  | $ | - |  |  | $ | (8,562 | ) |  | $ | 127,445 |
U. S. federal agency obligations |  |  | 5,013 |  |  |  | - |  |  |  | (34 | ) |  |  | 4,979 |
Municipal obligations, tax exempt |  |  | 136,969 |  |  |  | 1 |  |  |  | (8,578 | ) |  |  | 128,392 |
Municipal obligations, taxable |  |  | 68,007 |  |  |  | 3 |  |  |  | (6,051 | ) |  |  | 61,959 |
Agency mortgage-backed securities |  |  | 179,129 |  |  |  | - |  |  |  | (17,798 | ) |  |  | 161,331 |
Total available-for-sale |  | $ | 525,125 |  |  | $ | 4 |  |  | $ | (41,023 | ) |  | $ | 484,106 |
|  | As of December 31, 2021 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | unrealized |  |  | unrealized |  |  | Estimated |
(Dollars in thousands) |  | cost |  |  | gains |  |  | losses |  |  | fair value |
U. S. treasury securities |  | $ | 43,098 |  |  | $ | - |  |  | $ | (423 | ) |  | $ | 42,675 |
U. S. federal agency obligations |  |  | 17,165 |  |  |  | 67 |  |  |  | (37 | ) |  |  | 17,195 |
Municipal obligations, tax exempt |  |  | 133,558 |  |  |  | 4,488 |  |  |  | (62 | ) |  |  | 137,984 |
Municipal obligations, taxable |  |  | 39,011 |  |  |  | 1,171 |  |  |  | (136 | ) |  |  | 40,046 |
Agency mortgage-backed securities |  |  | 142,747 |  |  |  | 1,339 |  |  |  | (1,269 | ) |  |  | 142,817 |
Total available-for-sale |  | $ | 375,579 |  |  | $ | 7,065 |  |  | $ | (1,927 | ) |  | $ | 380,717 |
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value | Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value
|  |  |  |  | As of September 30, 2022 |
(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 |  |  | 69 |  |  | $ | 102,410 |  |  | $ | (6,212 | ) |  | $ | 25,035 |  |  | $ | (2,350 | ) |  | $ | 127,445 |  |  | $ | (8,562 | )
U.S. federal agency obligations |  |  | 2 |  |  |  | 1,987 |  |  |  | (16 | ) |  |  | 2,992 |  |  |  | (18 | ) |  |  | 4,979 |  |  |  | (34 | )
Municipal obligations, tax exempt |  |  | 313 |  |  |  | 114,043 |  |  |  | (7,697 | ) |  |  | 10,652 |  |  |  | (881 | ) |  |  | 124,695 |  |  |  | (8,578 | )
Municipal obligations, taxable |  |  | 106 |  |  |  | 54,065 |  |  |  | (5,436 | ) |  |  | 4,615 |  |  |  | (615 | ) |  |  | 58,680 |  |  |  | (6,051 | )
Agency mortgage-backed securities |  |  | 99 |  |  |  | 98,434 |  |  |  | (8,648 | ) |  |  | 62,898 |  |  |  | (9,150 | ) |  |  | 161,332 |  |  |  | (17,798 | )
Total |  |  | 589 |  |  | $ | 370,939 |  |  | $ | (28,009 | ) |  | $ | 106,192 |  |  | $ | (13,014 | ) |  | $ | 477,131 |  |  | $ | (41,023 | )
|  |  |  |  | As of December 31, 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 |  |  | 28 |  |  | $ | 42,675 |  |  | $ | (423 | ) |  | $ | - |  |  | $ | - |  |  | $ | 42,675 |  |  | $ | (423 | )
U.S. federal agency obligations |  |  | 6 |  |  |  | 12,073 |  |  |  | (30 | ) |  |  | 3,048 |  |  |  | (7 | ) |  |  | 15,121 |  |  |  | (37 | )
Municipal obligations, tax exempt |  |  | 37 |  |  |  | 12,411 |  |  |  | (46 | ) |  |  | 1,879 |  |  |  | (16 | ) |  |  | 14,290 |  |  |  | (62 | )
Municipal obligations, taxable |  |  | 13 |  |  |  | 8,802 |  |  |  | (136 | ) |  |  | - |  |  |  | - |  |  |  | 8,802 |  |  |  | (136 | )
Agency mortgage-backed securities |  |  | 28 |  |  |  | 95,028 |  |  |  | (1,269 | ) |  |  | - |  |  |  | - |  |  |  | 95,028 |  |  |  | (1,269 | )
Total |  |  | 112 |  |  |  | 170,989 |  |  |  | (1,904 | ) |  |  | 4,927 |  |  |  | (23 | ) |  |  | 175,916 |  |  |  | (1,927 | )
Schedule of Investments Classified by Contractual Maturity Date | Schedule of Investments Classified by Contractual Maturity Date
(Dollars in thousands) |  | Amortized |  |  | Estimated |
|  | cost |  |  | fair value |
Due in less than one year |  | $ | 21,372 |  |  | $ | 21,137 |
Due after one year but within five years |  |  | 314,893 |  |  |  | 291,955 |
Due after five years but within ten years |  |  | 137,350 |  |  |  | 124,921 |
Due after ten years |  |  | 51,510 |  |  |  | 46,093 |
Total |  | $ | 525,125 |  |  | $ | 484,106 |
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: Schedule of Realized Gain (loss)
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
(Dollars in thousands) |  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Sales proceeds |  | $ | 11,210 |  |  | $ | 1,400 |  |  | $ | 11,210 |  |  | $ | 16,623 |
Realized gains |  | $ | - |  |  | $ | 30 |  |  | $ | - |  |  | $ | 1,138 |
Realized losses |  |  | (353 | ) |  |  | - |  |  |  | (353 | ) |  |  | - |
Net realized (losses) gains |  | $ | (353 | ) |  | $ | 30 |  |  | $ | (353 | ) |  | $ | 1,138 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
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