Investment Securities (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Investments [Abstract]

Schedule of Available-for-sale Securities

A summary of investment securities available-for-sale is as follows:

(Dollars in thousands)	As of December 31, 2021
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
	cost		gains		losses			fair value
U. S. treasury securities	$	43,098	$	-	$	(423	)	$	42,675
U. S. federal agency obligations		17,165		67		(37	)		17,195
Municipal obligations, tax exempt		133,558		4,488		(62	)		137,984
Municipal obligations, taxable		39,011		1,171		(136	)		40,046
Agency mortgage-backed securities		142,747		1,339		(1,269	)		142,817
Total	$	375,579	$	7,065	$	(1,927	)	$	380,717

	As of December 31, 2020
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
	cost		gains		losses			fair value
U. S. treasury securities	$	2,000	$	37	$	-		$	2,037
U. S. federal agency obligations		18,804		138		(18	)		18,924
Municipal obligations, tax exempt		136,321		6,367		(12	)		142,676
Municipal obligations, taxable		46,643		2,892		-			49,535
Agency mortgage-backed securities		75,530		3,108		-			78,638
Total	$	279,298	$	12,542	$	(30	)	$	291,810

Schedule of Available for Sale Securities Continuous Unrealized Loss Position Fair Value

The tables above show that some of the securities in the available-for-sale investment portfolio had unrealized losses, or were temporarily impaired, as of December 31, 2021 and 2020. This temporary impairment represents the estimated amount of loss that would be realized if the securities were sold on the valuation date. Securities which were temporarily impaired are shown below, along with the length of time in a continuous unrealized loss position.

(Dollars in thousands)			As of December 31, 2021
			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	securities		value		losses			value		losses			value		losses
U. S. treasury securities		28	$	42,675	$	(423	)	$	-	$	-		$	42,675	$	(423	)
U. S. federal agency obligations		6	$	12,073	$	(30	)	$	3,048	$	(7	)		15,121		(37	)
Municipal obligations, tax exempt		37		12,411		(46	)		1,879		(16	)		14,290		(62	)
Municipal obligations, taxable		13		8,802		(136	)		-		-			8,802		(136	)
Agency mortgage-backed securities		28		95,028		(1,269	)		-		-			95,028		(1,269	)
Total		112	$	170,989	$	(1,904	)	$	4,927	$	(23	)	$	175,916	$	(1,927	)

			As of December 31, 2020
			Less than 12 months					12 months or longer				Total
	No. of		Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
	securities		value		losses			value		losses		value		losses
U.S. federal agency obligations		4	$	11,772	$	(18	)	$	-	$	-	$	11,772	$	(18	)
Municipal obligations, tax exempt		12		4,191		(12	)		-		-		4,191		(12	)
Total		16	$	15,963	$	(30	)	$	-	$	-	$	15,963	$	(30	)

Schedule of Investments Classified by Contractual Maturity Date

The table below includes scheduled principal payments and estimated prepayments, based on observable market inputs, for agency mortgage-backed securities. Actual maturities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. The amortized cost and fair value of investment securities at December 31, 2021 are as follows:

(Dollars in thousands)	Amortized		Estimated
	cost		fair value
Due in less than one year	$	18,859	$	18,921
Due after one year but within five years		256,749		257,619
Due after five years but within ten years		52,372		54,243
Due after ten years		47,599		49,934
Total	$	375,579	$	380,717

Schedule of Realized Gain (loss)

Sales proceeds and gross realized gains and losses on sales of available-for-sale securities are as follows:

(Dollars in thousands)	Years ended December 31,
	2021		2020			2019
Sales proceeds	$	16,623	$	61,163		$	15,318
Realized gains	$	1,138	$	2,449		$	2
Realized losses		-		(1	)		(179	)
Net realized gains	$	1,138	$	2,448		$	(177	)