XML 42 R31.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Activity in the ACL on held-to maturity securities
The following table summarizes the activity in the ACL on HTM securities.
(Dollars in thousands)Three Months Ended March 31, 2024Three Months Ended March 31, 2023
Balance, beginning of period$94 $— 
Other debt securities, provision for credit losses22 163 
Balance, end of period$116 $163 
Schedule of Available-for-Sale Securities Reconciliation
The following tables provide information on the amortized cost and estimated fair values of debt securities.
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Available-for-sale securities:
March 31, 2024
U.S. Treasury and government agencies$72,701 $8 $3,168 $69,541 
Mortgage-backed-residential111,780 20 8,174 103,626 
Other debt securities6,102 322 95 6,329 
Total$190,583 $350 $11,437 $179,496 
December 31, 2023
U.S. Treasury and government agencies$23,472 $5 $3,002 $20,475 
Mortgage-backed-residential91,280 5 7,258 84,027 
Other debt securities6,080 59 120 6,019 
Total$120,832 $69 $10,380 $110,521 
Schedule of Held-to-Maturity Securities Reconciliation
(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueAllowance for Credit Losses
Held-to-maturity securities:
March 31, 2024
U.S. Treasury and government agencies$143,215 $— $11,172 $132,043 $— 
Mortgage-backed-residential348,754 — 47,343 301,411 — 
States and political subdivisions1,469 44 24 1,489 — 
Other debt securities10,500 — 1,185 9,315 116 
Total$503,938 $44 $59,724 $444,258 $116 
December 31, 2023
U.S. Treasury and government agencies$143,442 $— $10,377 $133,065 $— 
Mortgage-backed-residential357,870 — 43,864 314,006 — 
States and political subdivisions1,470 57 19 1,508 — 
Other debt securities 10,500 — 1,249 9,251 94 
Total$513,282 $57 $55,509 $457,830 $94 
Schedule of Amortized Cost of Held-to-Maturity Securities Based on Credit Rating
The following table shows the amortized cost of HTM securities based on their lowest publicly available credit rating as of March 31, 2024.
March 31, 2024
Investment Grade
(Dollars in thousands)AaaAa1A3Baa1Baa2NRTotal
U.S. Treasury and government agencies$139,543 $— $— $— $— $3,672 $143,215 
Mortgage-backed-residential348,754 — — — — — 348,754 
States and political subdivisions— 1,469 — — — — 1,469 
Other debt securities— — 4,000 4,000 500 2,000 10,500 
Total held-to maturity securities$488,297 $1,469 $4,000 $4,000 $500 $5,672 $503,938 
The following table shows the amortized cost of HTM securities based on their lowest publicly available credit rating as of December 31, 2023.
December 31, 2023
Investment Grade
(Dollars in thousands)AaaAa1A3Baa1Baa2NRTotal
U.S. Treasury and government agencies$140,761 $— $— $— $— $2,681 $143,442 
Mortgage-backed securities357,870 — — — — — 357,870 
Obligations of states and political subdivisions— 1,470 — — — — 1,470 
Other debt securities— — 4,000 4,000 500 2,000 10,500 
Total held-to-maturity securities$498,631 $1,470 $4,000 $4,000 $500 $4,681 $513,282 
Available-For-Sale Securities and Held-to-Maturity, Continuous Unrealized Loss Position, Fair Value
The following tables provide information about gross unrealized losses and fair value by length of time that the individual securities have been in a continuous unrealized loss position at March 31, 2024 and December 31, 2023.
Less than 12 MonthsMore than 12 MonthsTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
March 31, 2024
Available-for-sale securities:
U.S. Treasury and government agencies$196 $1 $17,278 $3,167 $17,474 $3,168 
Mortgage-backed-residential33,688 526 63,243 7,648 96,931 8,174 
Other debt securities— — 1,913 95 1,913 95 
Total$33,884 $527 $82,434 $10,910 $116,318 $11,437 
Less than 12 MonthsMore than 12 MonthsTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
December 31, 2023
Available-for-sale securities:
U.S. Treasury and government agencies$74 $— $17,750 $3,002 $17,824 $3,002 
Mortgage-backed-residential24,405 150 52,864 7,108 77,269 7,258 
Other debt securities— — 1,890 120 1,890 120 
Total$24,479 $150 $72,504 $10,230 $96,983 $10,380 
Schedule of Securities Debt Maturities
The following table provides information on the amortized cost and estimated fair values of investment securities by maturity date at March 31, 2024.
Available for saleHeld to maturity
(Dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due in one year or less$51,911 $51,915 $7,000 $6,947 
Due after one year through five years16,189 15,075 129,497 121,031 
Due after five years through ten years42,049 39,399 39,125 35,652 
Due after ten years80,434 73,107 328,316 280,628 
Total$190,583 $179,496 $503,938 $444,258