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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of HTM Securities and AFS Securities by Contractual Maturities
The following table shows 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 March 31, 2024 and December 31, 2023, by contractual maturity within each type:
 At March 31, 2024
(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$1,660 $ $(60)$ $1,600 
After 5 years to 10 years11,934  (596) 11,338 
Over 10 years129,880  (18,796) 111,084 
143,474  (19,452) 124,022 
Total$143,474 $ $(19,452)$ $124,022 
Securities Available-for-Sale
State and political subdivisions:
Within 1 year$1,299 $ $(30)$ $1,269 
1,299  (30) 1,269 
Residential mortgage-backed securities:
After 1 year to 5 years499  (18) 481 
After 5 years to 10 years13,082  (1,040) 12,042 
Over 10 years289,639 128 (38,141) 251,626 
303,220 128 (39,199) 264,149 
Collateralized mortgage obligations:
After 5 years to 10 years218  (10) 208 
Over 10 years1,902  (183) 1,719 
2,120  (193) 1,927 
Corporate bonds:
Within 1 year18,503  (95)(8)18,400 
After 1 year to 5 years12,840 13 (643)(43)12,167 
After 5 years to 10 years60,000  (6,327)(766)52,907 
91,343 13 (7,065)(817)83,474 
Total$397,982 $141 $(46,487)$(817)$350,819 
 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 (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 
Amount of Securities in Unrealized Loss Position With No Allowance For Credit Losses
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 March 31, 2024 and December 31, 2023, 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 March 31, 2024
Securities Held-to-Maturity
Residential mortgage-backed securities$7,006 $(170)$117,016 $(19,282)$124,022 $(19,452)
Total$7,006 $(170)$117,016 $(19,282)$124,022 $(19,452)
Securities Available-for-Sale
Residential mortgage-backed securities$9,515 $(37)$244,887 $(39,162)$254,402 $(39,199)
Collateralized mortgage obligations  1,927 (193)1,927 (193)
Corporate bonds499 (1)4,995 (5)5,494 (6)
Total$10,014 $(38)$251,809 $(39,360)$261,823 $(39,398)
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)
Available-for-sale Securities, Allowance for Credit Loss Rollforward
The table below presents a rollforward by major security type for the three months ended March 31, 2024 and March 31, 2023 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)Corporate Bonds
Three months ended March 31, 2024
Securities Available-for-Sale
Beginning balance$(731)
Change in securities for which a previous expected credit loss was recognized(86)
Ending balance$(817)
Three months ended March 31, 2023
Securities Available-for-Sale
Beginning balance$(1,140)
Change in securities for which a previous expected credit loss was recognized(292)
Ending balance$(1,432)