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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Schedule of Investments [Abstract]  
Schedule of Available-for-sale Securities

A summary of investment securities available-for-sale and securities held-to-maturity is as follows:

  

(Dollars in thousands)  As of December 31, 2022 
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
   cost   gains   losses   fair value 
                 
Available-for-sale:                    
U. S. treasury securities  $130,684   $-   $(7,573)  $123,111 
U. S. federal agency obligations   2,002    -    (14)   1,988 
Municipal obligations, tax exempt   130,848    59    (3,645)   127,262 
Municipal obligations, taxable   73,520    14    (6,290)   67,244 
Agency mortgage-backed securities   185,451    172    (15,922)   169,701 
Total available-for-sale  $522,505   $245   $(33,444)  $489,306 
                     
Held-to-maturity:                    
Other  $3,524   $5   $(77)  $3,452 
Total held-to-maturity  $3,524   $5   $(77)  $3,452 

 

   As of December 31, 2021 
       Gross   Gross     
   Amortized   unrealized   unrealized   Estimated 
   cost   gains   losses   fair value 
Available-for-sale:                
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  $375,579   $7,065   $(1,927)  $380,717 
Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value

Securities which were temporarily impaired are shown below, along with the length of time in a continuous unrealized loss position.

 

(Dollars in thousands)      As of December 31, 2022 
       Less than 12 months   12 months or longer   Total 
   No. of   Fair   Unrealized   Fair   Unrealized   Fair   Unrealized 
Available-for-sale  securities   value   losses   value   losses   value   losses 
U. S. treasury securities   67   $85,988   $(4,591)  $37,123   $(2,982)  $123,111   $(7,573)
U. S. federal agency obligations   1    1,988    (14)   -    -    1,988    (14)
Municipal obligations, tax exempt   274    107,262    (3,020)   8,495    (625)   115,757    (3,645)
Municipal obligations, taxable   108    54,746    (5,006)   7,571    (1,284)   62,317    (6,290)
Agency mortgage-backed securities   100    78,971    (4,550)   79,882    (11,372)   158,853    (15,922)
Total available-for-sale   550   $328,955   $(17,181)  $133,071   $(16,263)  $462,026   $(33,444)
                                    
Other   6   $3,009   $(77)  $-   $-   $3,009   $(77)
Total   6   $3,009   $(77)  $-   $-   $3,009   $(77)

 

       As of December 31, 2021 
       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
  Amortized   Estimated 

(Dollars in thousands)

  cost   fair value 
         
Due in less than one year  $22,482   $22,142 
Due after one year but within five years   300,282    280,685 
Due after five years but within ten years   147,965    138,189 
Due after ten years   51,776    48,290 
Total available-for-sale  $522,505   $489,306 
Held-to-maturity          
Due after five years but within ten years  $3,524   $3,452 
Total held-to-maturity  $3,524   $3,452 
Schedule of Realized Gain (loss)

The Company has not sold any investment securities subsequent to December 31, 2022 and the date of this filing. Sales proceeds and gross realized gains and losses on sales of available-for-sale securities are as follows:

  

             
(Dollars in thousands)  Years ended December 31, 
Available-for-sale  2022   2021   2020 
Sales proceeds  $52,597   $16,623   $61,163 
                
Realized gains  $-   $1,138   $2,449 
Realized losses   (1,103)   -    (1)
Net realized (losses) gains  $(1,103)  $1,138   $2,448