Investments (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Investments [Abstract]

Schedule of Available-for-sale Securities

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

	As of September 30, 2022
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
(Dollars in thousands)	cost		gains		losses			fair value
U. S. treasury securities	$	136,007	$	-	$	(8,562	)	$	127,445
U. S. federal agency obligations		5,013		-		(34	)		4,979
Municipal obligations, tax exempt		136,969		1		(8,578	)		128,392
Municipal obligations, taxable		68,007		3		(6,051	)		61,959
Agency mortgage-backed securities		179,129		-		(17,798	)		161,331
Total available-for-sale	$	525,125	$	4	$	(41,023	)	$	484,106

	As of December 31, 2021
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
(Dollars in thousands)	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 available-for-sale	$	375,579	$	7,065	$	(1,927	)	$	380,717

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

			As of September 30, 2022
(Dollars in thousands)			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		69	$	102,410	$	(6,212	)	$	25,035	$	(2,350	)	$	127,445	$	(8,562	)
U.S. federal agency obligations		2		1,987		(16	)		2,992		(18	)		4,979		(34	)
Municipal obligations, tax exempt		313		114,043		(7,697	)		10,652		(881	)		124,695		(8,578	)
Municipal obligations, taxable		106		54,065		(5,436	)		4,615		(615	)		58,680		(6,051	)
Agency mortgage-backed securities		99		98,434		(8,648	)		62,898		(9,150	)		161,332		(17,798	)
Total		589	$	370,939	$	(28,009	)	$	106,192	$	(13,014	)	$	477,131	$	(41,023	)

			As of December 31, 2021
(Dollars in thousands)			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	)

Schedule of Investments Classified by Contractual Maturity Date

(Dollars in thousands)	Amortized		Estimated
	cost		fair value
Due in less than one year	$	21,372	$	21,137
Due after one year but within five years		314,893		291,955
Due after five years but within ten years		137,350		124,921
Due after ten years		51,510		46,093
Total	$	525,125	$	484,106

Schedule of Realized Gain (loss)

Sales proceeds and gross realized gains and losses on sales of available-for-sale securities were as follows for the periods indicated:

(Dollars in thousands)	Three months ended September 30,					Nine months ended September 30,
	2022			2021		2022			2021
Sales proceeds	$	11,210		$	1,400	$	11,210		$	16,623
Realized gains	$	-		$	30	$	-		$	1,138
Realized losses		(353	)		-		(353	)		-
Net realized (losses) gains	$	(353	)	$	30	$	(353	)	$	1,138