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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale Investments Reconciliation The amortized cost and fair values of debt securities at the dates specified are summarized as follows:
 September 30, 2022
(Dollars in thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair Value
Federal agency obligations$5,016 $— $$5,010 
U.S. treasury securities85,865 — 6,205 79,660 
Federal agency collateralized mortgage obligations ("CMO")446,530 — 66,453 380,077 
Federal agency mortgage-baked securities ("MBS")23,305 — 3,326 19,979 
Taxable municipal securities 286,449 — 44,196 242,253 
Tax-exempt municipal securities85,293 15 1,840 83,468 
Corporate bonds 6,475 — 195 6,280 
Subordinated corporate bonds11,948 — 1,460 10,488 
Total debt securities, at fair value$950,881 $15 $123,681 $827,215 
 December 31, 2021
(Dollars in thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair Value
U.S. treasury securities$62,850 $— $684 $62,166 
Federal agency CMO489,789 5,672 8,748 486,713 
Federal agency MBS22,794 517 417 22,894 
Taxable municipal securities 272,507 5,607 2,264 275,850 
Tax-exempt municipal securities87,024 5,648 — 92,672 
Corporate bonds 8,559 441 — 9,000 
Subordinated corporate bonds7,000 135 — 7,135 
Total debt securities, at fair value$950,523 $18,020 $12,113 $956,430 
Schedule of Unrealized Loss on Debt Securities, Available-for-Sale Investments
The following tables summarize the duration of unrealized losses for debt securities at September 30, 2022 and December 31, 2021:
 September 30, 2022
 Less than 12 months12 months or longerTotal
(Dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
# of Holdings
Federal agency obligations$5,011 $$— $— $5,011 $
U.S. treasury securities49,643 2,290 30,017 3,915 79,660 6,205 12 
Federal agency CMO193,638 21,696 186,439 44,757 380,077 66,453 101 
Federal agency MBS10,741 911 9,237 2,415 19,978 3,326 11 
Taxable municipal securities 160,929 25,059 77,625 19,137 238,554 44,196 269 
Tax-exempt municipal securities78,249 1,840 — — 78,249 1,840 128 
Corporate bonds6,279 195 — — 6,279 195 31 
Subordinated corporate bonds6,875 1,073 3,613 387 10,488 1,460 
Total$511,365 $53,070 $306,931 $70,611 $818,296 $123,681 559 
 December 31, 2021
 Less than 12 months12 months or longerTotal
(Dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
# of Holdings
U.S. treasury securities$62,166 $684 $— $— $62,166 $684 9
Federal agency CMO266,313 6,627 51,281 2,121 317,594 8,748 43
Federal agency MBS11,447 417 — — 11,447 417 
Taxable municipal securities 117,388 2,023 6,727 241 124,115 2,264 118
Total$457,314 $9,751 $58,008 $2,362 $515,322 $12,113 172 
Debt Securities, Available-for-Sale Investments Classified by Contractual Maturity Date
The contractual maturity distribution at September 30, 2022 of debt securities was as follows:    
(Dollars in thousands)Amortized CostFair Value
Due in one year or less$13,464 $13,407 
Due after one, but within five years198,843 189,724 
Due after five, but within ten years290,032 248,284 
Due after ten years448,542 375,800 
 Total debt securities
$950,881 $827,215 
Schedule of Realized Gain (Loss) on Sales of Debt Securities, Available-for-Sale Investments Sales of debt securities for the nine months ended September 30, 2022 and September 30, 2021 are summarized as follows:     
Nine months ended September 30,
(Dollars in thousands)20222021
Amortized cost of debt securities sold (1)
$31,653 $2,931 
Gross realized gains on sales1,062 128 
Gross realized losses on sales— — 
Total proceeds from sales of debt securities$32,715 $3,059 
_________________________________________
(1)Amortized cost of investments sold is determined on a specific identification basis and includes pending trades based on trade date, if applicable.
Gain (Loss) on Equity Securities
Gains and losses on equity securities for the three and nine months ended September 30, 2022 and September 30, 2021 are summarized as follows:
Three months ended September 30,Nine months ended September 30,
(Dollars in thousands)2022202120222021
Net (losses) gains recognized during the period on equity securities $(193)$$(688)$154 
Less: Net gains recognized on equity securities sold during the period— — — 
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the end of the period (included in other income)$(193)$$(688)$148