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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2023
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:
 March 31, 2023
(Dollars in thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair Value
Federal agency obligations$5,012 $$— $5,013 
U.S. treasury securities45,955 — 2,045 43,910 
Federal agency collateralized mortgage obligations ("CMO")461,436 203 54,796 406,843 
Federal agency mortgage-backed securities ("MBS")23,892 64 2,776 21,180 
Taxable municipal securities 287,421 36 37,173 250,284 
Tax-exempt municipal securities82,182 246 485 81,943 
Corporate bonds 5,636 — 109 5,527 
Subordinated corporate bonds11,951 — 1,131 10,820 
Total debt securities, at fair value$923,485 $550 $98,515 $825,520 
 December 31, 2022
(Dollars in thousands)Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Fair Value
Federal agency obligations$5,014 $— $37 $4,977 
U.S. treasury securities45,942 — 2,691 43,251 
Federal agency CMO474,777 67,798 406,982 
Federal agency MBS24,172 27 3,178 21,021 
Taxable municipal securities 287,435 29 48,187 239,277 
Tax-exempt municipal securities84,457 66 870 83,653 
Corporate bonds 6,480 — 186 6,294 
Subordinated corporate bonds11,950 — 1,303 10,647 
Total debt securities, at fair value$940,227 $125 $124,250 $816,102 
Schedule of Unrealized Loss on Debt Securities, Available-for-Sale Investments
The following tables summarize the duration of unrealized losses for debt securities at March 31, 2023 and December 31, 2022:
 March 31, 2023
 Less than 12 months12 months or longerTotal
(Dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
# of Holdings
U.S. treasury securities$— $— $43,910 $2,045 $43,910 $2,045 
Federal agency CMO46,380 844 335,270 53,952 381,650 54,796 98 
Federal agency MBS— — 19,217 2,776 19,217 2,776 11 
Taxable municipal securities 20,486 729 226,761 36,444 247,247 37,173 272 
Tax-exempt municipal securities31,239 155 9,801 330 41,040 485 80 
Corporate bonds4,857 82 670 27 5,527 109 25 
Subordinated corporate bonds1,886 66 8,935 1,065 10,821 1,131 
Total$104,848 $1,876 $644,564 $96,639 $749,412 $98,515 498 
 December 31, 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$4,977 $37 $— $— $4,977 $37 
U.S. treasury securities2,878 109 40,374 2,582 43,252 2,691 6
Federal agency CMO164,391 13,004 233,051 54,794 397,442 67,798 102
Federal agency MBS9,923 797 9,165 2,381 19,088 3,178 11 
Taxable municipal securities 93,345 10,411 144,903 37,776 238,248 48,187 273
Tax-exempt municipal securities66,277 870 — — 66,277 870 112 
Corporate bonds 6,294 186 — — 6,294 186 31 
Subordinated corporate bonds6,206 743 4,440 560 10,646 1,303 
Total$354,291 $26,157 $431,933 $98,093 $786,224 $124,250 542 
Debt Securities, Available-for-Sale Investments Classified by Contractual Maturity Date
The contractual maturity distribution at March 31, 2023 of debt securities was as follows:    
(Dollars in thousands)Amortized CostFair Value
Due in one year or less$43,577 $42,648 
Due after one, but within five years137,025 133,624 
Due after five, but within ten years304,972 267,490 
Due after ten years437,911 381,758 
 Total debt securities
$923,485 $825,520 
Schedule of Realized Gain (Loss) on Sales of Debt Securities, Available-for-Sale Investments
Sales of debt securities for the three months ended March 31, 2023 and March 31, 2022 are summarized as follows:     
Three months ended March 31,
(Dollars in thousands)20232022
Amortized cost of debt securities sold (1)
$— $31,653 
Gross realized gains on sales— 1,062 
Gross realized losses on sales— — 
Total proceeds from sales of debt securities$— $32,715 
_________________________________________
(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 months ended March 31, 2023 and March 31, 2022 are summarized as follows:
Three months ended March 31,
(Dollars in thousands)20232022
Net losses recognized during the period on equity securities $(16)$(67)
Less: Net gains recognized on equity securities sold during the period— — 
Unrealized losses recognized during the reporting period on equity securities still held at the end of the period$(16)$(67)