Investment Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investment Securities

Summary of amortized cost and fair value of securities available-for-sale

	March 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Available-for-sale
U.S. Treasuries	$	53,894	$	—	$	(3,326)	$	50,568
U.S. government and federal agencies		38,780		—		(3,497)		35,283
Corporate bonds		3,000		—		(361)		2,639
Collateralized mortgage obligations		44,036		—		(6,048)		37,988
Tax-exempt municipal		2,934		—		(268)		2,666
Taxable municipal		607		—		(25)		582
Mortgage-backed		229,076		—		(18,643)		210,433
Total Available-for-sale Securities	$	372,327	$	—	$	(32,168)	$	340,159

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Available-for-sale
U.S. Treasuries	$	63,480	$	—	$	(4,270)	$	59,210
U.S. government and federal agencies		38,748		—		(3,988)		34,760
Corporate bonds		3,000		—		(386)		2,614
Collateralized mortgage obligations		44,732		—		(6,258)		38,474
Tax-exempt municipal		4,993		—		(348)		4,645
Taxable municipal		608		—		(29)		579
Mortgage-backed		238,652		—		(21,358)		217,294
Total Available-for-sale Securities	$	394,213	$	—	$	(36,637)	$	357,576

Summary of amortized cost and fair value of securities held-to-maturity

	March 31, 2023
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Held-to-maturity
U.S. Treasuries	$	6,000	$	—	$	(722)	$	5,278
U.S. government and federal agencies		35,519		—		(5,492)		30,027
Collateralized mortgage obligations		20,850		—		(3,932)		16,918
Taxable municipal		6,069		—		(1,161)		4,908
Mortgage-backed		30,069		—		(5,234)		24,835
Total Held-to-maturity Securities	$	98,507	$	—	$	(16,541)	$	81,966

	December 31, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		(Losses)		Value
Held-to-maturity
U.S. Treasuries	$	6,000	$	—	$	(840)	$	5,160
U.S. government and federal agencies		35,551		—		(6,135)		29,416
Collateralized mortgage obligations		21,275		—		(4,227)		17,048
Taxable municipal		6,073		—		(1,364)		4,709
Mortgage-backed		30,516		—		(5,688)		24,828
Total Held-to-maturity Securities	$	99,415	$	—	$	(18,254)	$	81,161

Schedule of gross unrealized loss position of investments

	March 31, 2023
	Less than 12 Months				12 Months or Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Available-for-sale
U.S. Treasuries	$	12,612	$	(294)	$	37,956	$	(3,032)	$	50,568	$	(3,326)
U.S. government and federal agencies		5,757		(160)		29,526		(3,337)		35,283		(3,497)
Corporate bonds		930		(70)		1,709		(291)		2,639		(361)
Collateralized mortgage obligations		9,308		(282)		28,680		(5,766)		37,988		(6,048)
Tax-exempt municipal		—		—		2,666		(268)		2,666		(268)
Taxable municipal		335		(2)		247		(23)		582		(25)
Mortgage-backed		84,947		(3,600)		125,486		(15,043)		210,433		(18,643)
Total Available-for-sale Securities	$	113,889	$	(4,408)	$	226,270	$	(27,760)	$	340,159	$	(32,168)

	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Available-for-sale
U.S. Treasuries	$	31,261	$	(1,194)	$	27,949	$	(3,076)	$	59,210	$	(4,270)
U.S. government and federal agencies		16,107		(1,078)		18,653		(2,910)		34,760		(3,988)
Corporate bonds		2,614		(386)		—		—		2,614		(386)
Collateralized mortgage obligations		16,746		(1,143)		21,728		(5,115)		38,474		(6,258)
Tax-exempt municipal		4,645		(348)		—		—		4,645		(348)
Taxable municipal		337		(2)		242		(27)		579		(29)
Mortgage-backed		145,795		(9,612)		71,499		(11,746)		217,294		(21,358)
Total Available-for-sale Securities	$	217,505	$	(13,763)	$	140,071	$	(22,874)	$	357,576	$	(36,637)

	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Held-to-maturity
U.S. Treasuries	$	—	$	—	$	5,160	$	(840)	$	5,160	$	(840)
U.S. government and federal agencies		—		—		29,416		(6,135)		29,416		(6,135)
Collateralized mortgage obligations		—		—		17,048		(4,227)		17,048		(4,227)
Taxable municipal		—		—		4,709		(1,364)		4,709		(1,364)
Mortgage-backed		825		(159)		24,003		(5,529)		24,828		(5,688)
Total Held-to-maturity Securities	$	825	$	(159)	$	80,336	$	(18,095)	$	81,161	$	(18,254)

Contractual maturities of investment securities

	March 31, 2023
	Amortized		Fair
(Dollars in thousands)	Cost		Value
Available-for-sale
Due in one year or less	$	7,943	$	7,752
Due after one year through five years		95,102		88,421
Due after five years through ten years		142,855		133,508
Due after ten years		126,427		110,478
Total Available-for-sale Securities	$	372,327	$	340,159

	March 31, 2023
	Amortized		Fair
(Dollars in thousands)	Cost		Value
Held-to-maturity
Due in one year or less	$	—	$	—
Due after one year through five years		13,219		11,535
Due after five years through ten years		31,456		26,568
Due after ten years		53,832		43,863
Total Held-to-maturity Securities	$	98,507	$	81,966

Summary of restricted securities

(Dollars in thousands)	March 31, 2023		December 31, 2022
Federal Reserve Bank Stock	$	3,297	$	3,292
Federal Home Loan Bank Stock		1,172		1,073
Community Bankers’ Bank Stock		60		60
Total Restricted Securities	$	4,529	$	4,425