Investments (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Investments [Abstract]

Schedule of Available-for-sale and Held to Maturity Securities

A summary of investment securities available-for-sale and held-to-maturity is as follows:

(Dollars in thousands)	As of March 31, 2023
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
	cost		gains		losses			fair value
Available-for-sale:
U. S. treasury securities	$	127,880	$	-	$	(6,121	)	$	121,759
U. S. federal agency obligations		2,001		-		(8	)		1,993
Municipal obligations, tax exempt		130,326		161		(2,206	)		128,281
Municipal obligations, taxable		78,164		113		(4,809	)		73,468
Agency mortgage-backed securities		178,259		169		(13,759	)		164,669
Total available-for-sale	$	516,630	$	443	$	(26,903	)	$	490,170

	As of March 31, 2023
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
	cost		gains		losses			fair value
Held-to-maturity:
Other	$	3,467	$	-	$	(318	)	$	3,149
Total held-to-maturity	$	3,467	$	-	$	(318	)	$	3,149

	As of December 31, 2022
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
	cost		gains		losses			fair value
Available-for-sale:
U. S. treasury securities	$	130,684	$	-	$	(7,573	)	$	123,111
U. S. federal agency obligations		2,002		-		(14	)		1,988
Municipal obligations, tax exempt		130,848		59		(3,645	)		127,262
Municipal obligations, taxable		73,520		14		(6,290	)		67,244
Agency mortgage-backed securities		185,451		172		(15,922	)		169,701
Total available-for-sale	$	522,505	$	245	$	(33,444	)	$	489,306

	As of December 31, 2022
			Gross		Gross
	Amortized		unrealized		unrealized			Estimated
	cost		gains		losses			fair value
Held-to-maturity:
Other	$	3,524	$	5	$	(77	)	$	3,452
Total held-to-maturity	$	3,524	$	5	$	(77	)	$	3,452

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

			As of March 31, 2023
(Dollars in thousands)			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
Available-for-sale:	securities		value		losses			value		losses			value		losses
U.S. treasury securities		66	$	17,306	$	(465	)	$	104,452	$	(5,656	)	$	121,758	$	(6,121	)
U.S. federal agency obligations		1		1,993		(8	)		-		-			1,993		(8	)
Municipal obligations, tax exempt		222		43,274		(314	)		55,701		(1,892	)		98,975		(2,206	)
Municipal obligations, taxable		108		40,834		(1,557	)		24,672		(3,252	)		65,506		(4,809	)
Agency mortgage-backed securities		100		35,877		(937	)		118,322		(12,822	)		154,199		(13,759	)
Total for available-for-sale		497	$	139,284	$	(3,281	)	$	303,147	$	(23,623	)	$	442,431	$	(26,904	)
Held-to-maturity:
Other		7	$	3,149	$	(318	)	$	-	$	-		$	3,149	$	(318	)
Total held-to-maturity		7		3,149		(318	)		-		-			3,149		(318	)

			As of December 31, 2022
			Less than 12 months					12 months or longer					Total
	No. of		Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
Available-for-sale:	securities		value		losses			value		losses			value		losses
U.S. treasury securities		67	$	85,988	$	(4,591	)	$	37,123	$	(2,982	)	$	123,111	$	(7,573	)
U.S. federal agency obligations		1		1,988		(14	)		-		-			1,988		(14	)
Municipal obligations, tax exempt		274		107,262		(3,020	)		8,495		(625	)		115,757		(3,645	)
Municipal obligations, taxable		108		54,746		(5,006	)		7,571		(1,284	)		62,317		(6,290	)
Agency mortgage-backed securities		100		78,971		(4,550	)		79,882		(11,372	)		158,853		(15,922	)
Total for available-for-sale		550		328,955		(17,181	)		133,071		(16,263	)		462,026		(33,444	)
Held-to-maturity:
Other		6	$	3,009	$	(77	)	$	-	$	-		$	3,009	$	(77	)
Total held-to-maturity		6		3,009		(77	)		-		-			3,009		(77	)

Schedule of Allowance for Credit Losses Related to Held-to-maturity Investment Securities

The following table provides information on the Company’s allowance for credit losses related to held-to-maturity investment securities.

(dollar in thousands)
Balance at January 1, 2023	$	-
Impact of adopting ASC 326		72
Provision for credit losses		19
Balance at March 31, 2023	$	91

Schedule of Investments Classified by Contractual Maturity Date

(Dollars in thousands)	Amortized		Estimated
Available-for-sale:	cost		fair value
Due in less than one year	$	25,401	$	25,096
Due after one year but within five years		281,185		265,879
Due after five years but within ten years		155,835		147,293
Due after ten years		54,209		51,902
Total available-for-sale	$	516,630	$	490,170
Held-to-maturity:
Due after one year but within five years		3,467		3,149
Total held-to-maturity	$	3,467	$	3,149