Securities (Tables)

9 Months Ended

Sep. 30, 2021

Securities

Schedule of amortized cost and estimated fair value of securities

			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for Credit		Fair
September 30, 2021	Cost		Gains		(Losses)		Losses		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	112,041	$	3,955	$	—	$	—	$	115,996
U.S. Treasury		4,993		11		—		—		5,004
Total	$	117,034	$	3,966	$	—	$	—	$	121,000
			Gross		Gross		Estimated		Allowance
	Amortized		Unrecognized		Unrecognized		Fair		for Credit
September 30, 2021	Cost		Gains		(Losses)		Value		Losses
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	480,333	$	4,487	$	(3,373)	$	481,447	$	—
Municipals - exempt from Federal tax		56,997		989		—		57,986		(45)
Total	$	537,330	$	5,476	$	(3,373)	$	539,433	$	(45)

			Gross		Gross		Allowance		Estimated
	Amortized		Unrealized		Unrealized		for Credit		Fair
December 31, 2020	Cost		Gains		(Losses)		Losses		Value
	(Dollars in thousands)
Securities available-for-sale:
Agency mortgage-backed securities	$	170,215	$	5,111	$	—	$	—	$	175,326
U.S. Treasury		59,797		651		—		—		60,448
Total	$	230,012	$	5,762	$	—	$	—	$	235,774
			Gross		Gross		Estimated		Allowance
	Amortized		Unrecognized		Unrecognized		Fair		for Credit
December 31, 2020	Cost		Gains		(Losses)		Value		Losses
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	228,652	$	6,075	$	(230)	$	234,497	$	—
Municipals - exempt from Federal tax		68,791		1,639		—		70,430		(54)
Total	$	297,443	$	7,714	$	(230)	$	304,927	$	(54)

Schedule of securities with unrealized losses

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2021	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	283,966	$	(3,372)	$	237	$	(1)	$	284,203	$	(3,373)
Total	$	283,966	$	(3,372)	$	237	$	(1)	$	284,203	$	(3,373)

	Less Than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2020	Value		(Losses)		Value		(Losses)		Value		(Losses)
	(Dollars in thousands)
Securities held-to-maturity:
Agency mortgage-backed securities	$	30,930	$	(230)	$	—	$	—	$	30,930	$	(230)
Total	$	30,930	$	(230)	$	—	$	—	$	30,930	$	(230)

Schedule of proceeds from sales of securities and the resulting gains and losses

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
	(Dollars in thousands)
Proceeds	$	—	$	—	$	—	$	56,598
Gross gains		—		—		—		270
Gross losses		—		—		—		—

Schedule of amortized cost and estimated fair values of securities, by contractual maturity

	Available-for-sale
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due 3 months or less	$	4,993	$	5,004
Agency mortgage-backed securities		112,041		115,996
Total	$	117,034	$	121,000

	Held-to-maturity
	Amortized		Estimated
	Cost		Fair Value
	(Dollars in thousands)
Due after 3 months through one year	$	537	$	549
Due after one through five years		10,347		10,548
Due after five through ten years		29,564		30,003
Due after ten years		16,549		16,886
Agency mortgage-backed securities		480,333		481,447
Total	$	537,330	$	539,433

Schedule of roll-forward by major security type of the allowance for credit losses on debt securities held-to-maturity

		Municipals
		(Dollars in thousands)
Beginning balance January 1, 2021	$	54
Provision for (recapture of) credit losses		(9)
Ending balance September 30, 2021	$	45