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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Held to Maturity Securities and Available for Sale Securities by Contractual Maturity
The following tables show the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at December 31, 2023 and 2022, by contractual maturity within each type:
 At December 31, 2023
(Dollars in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Securities Held-to-Maturity
Residential mortgage-backed securities:
After 1 year to 5 years$1,871 $ $(62)$ $1,809 
After 5 years to 10 years12,047  (462) 11,585 
Over 10 years131,859  (16,976) 114,883 
145,777  (17,500) 128,277 
Total$145,777 $ $(17,500)$ $128,277 
Securities Available-for-Sale
State and political subdivisions:
Within 1 year$1,030 $ $(1)$ $1,029 
After 1 year to 5 years1,298  (26) 1,272 
2,328  (27) 2,301 
Residential mortgage-backed securities:
After 1 year to 5 years567  (20) 547 
After 5 years to 10 years13,653  (964) 12,689 
Over 10 years285,628 131 (34,443) 251,316 
299,848 131 (35,427) 264,552 
Collateralized mortgage obligations:
After 5 years to 10 years241  (11) 230 
Over 10 years1,960  (189) 1,771 
2,201  (200) 2,001 
Corporate bonds:
Within 1 year18,011 1 (176)(27)17,809 
After 1 year to 5 years13,339 23 (671)(43)12,648 
After 5 years to 10 years60,000  (7,097)(661)52,242 
91,350 24 (7,944)(731)82,699 
Total$395,727 $155 $(43,598)$(731)$351,553 
 At December 31, 2022
(Dollars in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Securities Held-to-Maturity
Residential mortgage-backed securities:
After 1 year to 5 years$1,654 $— $(70)$— $1,584 
After 5 years to 10 years6,076 — (342) 5,734 
Over 10 years146,997 — (20,247) 126,750 
154,727 — (20,659) 134,068 
Total$154,727 $— $(20,659)$ $134,068 
Securities Available-for-Sale
State and political subdivisions:
After 1 year to 5 years$2,327 $— $(42)$ $2,285 
2,327 — (42) 2,285 
Residential mortgage-backed securities:
After 1 year to 5 years864 — (37) 827 
After 5 years to 10 years10,399 — (815) 9,584 
Over 10 years294,261 (41,291) 252,977 
305,524 (42,143) 263,388 
Collateralized mortgage obligations:
After 5 years to 10 years324 — (22) 302 
Over 10 years2,257 — (237) 2,020 
2,581 — (259) 2,322 
Corporate bonds:
Within 1 year1,000 — —  1,000 
After 1 year to 5 years30,679 (1,516)(152)29,014 
After 5 years to 10 years60,000 — (6,765)(988)52,247 
91,679 (8,281)(1,140)82,261 
Total$402,111 $10 $(50,725)$(1,140)$350,256 
Information Related to Sales of Securities Available-for-Sale
The following table presents information related to sales of securities available-for-sale during the years ended December 31, 2023, 2022 and 2021:
 For the Years Ended December 31,
(Dollars in thousands)202320222021
Securities available-for-sale:
Proceeds from sales$ $1,530 $4,636 
Gross realized gains on sales 30 145 
Tax expense related to net realized gains on sales 30 
Schedule of Securities in Unrealized Loss Position
The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at December 31, 2023 and 2022, by the length of time those securities were in a continuous loss position.
 Less than
Twelve Months
Twelve Months
or Longer
Total
(Dollars in thousands)Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
At December 31, 2023
Securities Held-to-Maturity
Residential mortgage-backed securities$6,005 $(94)$122,272 $(17,406)$128,277 $(17,500)
Total$6,005 $(94)$122,272 $(17,406)$128,277 $(17,500)
Securities Available-for-Sale
State and political subdivisions$1,029 $(1)$ $ $1,029 $(1)
Residential mortgage-backed securities16,992 (65)238,053 (35,362)255,045 (35,427)
Collateralized mortgage obligations  2,001 (200)2,001 (200)
Corporate bonds780 (1)  780 (1)
Total$18,801 $(67)$240,054 $(35,562)$258,855 $(35,629)
At December 31, 2022
Securities Held-to-Maturity
Residential mortgage-backed securities$65,044 $(5,894)$69,024 $(14,765)$134,068 $(20,659)
Total$65,044 $(5,894)$69,024 $(14,765)$134,068 $(20,659)
Securities Available-for-Sale
State and political subdivisions$1,255 $(42)$— $— $1,255 $(42)
Residential mortgage-backed securities128,831 (13,843)133,902 (28,300)262,733 (42,143)
Collateralized mortgage obligations302 (22)2,020 (237)2,322 (259)
Corporate bonds500 (1)— — 500 (1)
Total$130,888 $(13,908)$135,922 $(28,537)$266,810 $(42,445)
Available-for-sale Securities, Allowance for Credit Loss Rollforward
The table below presents a rollforward by major security type for the years ended December 31, 2023 and 2022 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)Corporate Bonds
For the Year Ended December 31, 2023
Securities Available-for-Sale
Beginning balance$(1,140)
Additions for securities for which no previous expected credit losses were recognized(3)
Change in securities for which a previous expected credit loss was recognized412 
Ending balance$(731)
For the Year Ended December 31, 2022
Securities Available-for-Sale
Beginning balance$(929)
Additions for securities for which no previous expected credit losses were recognized(153)
Change in securities for which a previous expected credit loss was recognized(58)
Ending balance$(1,140)