XML 55 R38.htm IDEA: XBRL DOCUMENT v3.22.0.1
INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale
The amortized cost and estimated fair value of securities available-for-sale along with allowance for credit losses, gross unrealized gains and losses are summarized as follows:

(dollars in thousands)Amortized CostAllowance for Credit LossesGross Unrealized GainsGross Unrealized Losses
Estimated
Fair
Value
December 31, 2021
U.S. government sponsored agencies$7,084 $— $88 $— $7,172 
State, county and municipal securities45,470 — 2,342 — 47,812 
Corporate debt securities27,897 — 719 (120)28,496 
SBA pool securities44,312 — 958 (69)45,201 
Mortgage-backed securities448,124 — 15,822 (6)463,940 
Total debt securities available-for-sale$572,887 $— $19,929 $(195)$592,621 
December 31, 2020
U.S. government sponsored agencies$17,161 $— $343 $— $17,504 
State, county and municipal securities63,286 — 3,492 — 66,778 
Corporate debt securities51,639 (112)602 (233)51,896 
SBA pool securities59,973 — 2,620 (96)62,497 
Mortgage-backed securities748,521 — 35,797 (114)784,204 
Total debt securities available-for-sale$940,580 $(112)$42,854 $(443)$982,879 
Amortized Cost and Estimated Fair Value of Debt Securities Held-to-Maturity
The amortized cost and estimated fair value of securities held-to-maturity along with gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
Securities held-to-maturity
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
December 31, 2021
State, county and municipal securities$8,905 $4 $(198)$8,711 
Mortgage-backed securities70,945 — (1,450)69,495 
Total debt securities held-to-maturity$79,850 $4 $(1,648)$78,206 
Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities available-for-sale and held-to-maturity as of December 31, 2021, by contractual maturity are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without penalty. Therefore, these securities are not included in the maturity categories in the following maturity summary.

Available-for-SaleHeld-to-Maturity
(dollars in thousands)
Amortized
Cost
Estimated
Fair
Value
Amortized
Cost
Estimated
Fair
Value
Due in one year or less$11,561 $11,679 $— $— 
Due from one year to five years31,957 33,185 — — 
Due from five to ten years43,673 45,126 — — 
Due after ten years37,572 38,691 8,905 8,711 
Mortgage-backed securities448,124 463,940 70,945 69,495 
$572,887 $592,621 $79,850 $78,206 
Schedule of Gross Unrealized Losses and Fair Value of Securities
The following table shows the gross unrealized losses and estimated fair value of available-for-sale securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at December 31, 2021 and 2020.

Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities available-for-sale
Estimated
Fair
Value
Unrealized LossesEstimated
Fair
Value		Unrealized LossesEstimated
Fair
Value		Unrealized Losses
December 31, 2021
Corporate debt securities$— $— $1,380 $(120)$1,380 $(120)
SBA pool securities1,312 (6)2,572 (63)3,884 (69)
Mortgage-backed securities5,514 (6)1 — 5,515 (6)
Total debt securities$6,826 $(12)$3,953 $(183)$10,779 $(195)
December 31, 2020
Corporate debt securities$10,159 $(233)$— $— $10,159 $(233)
SBA pool securities— — 3,948 (96)3,948 (96)
Mortgage-backed securities24,120 (114)2 — 24,122 (114)
Total debt securities$34,279 $(347)$3,950 $(96)$38,229 $(443)
Schedule of Held-to-Maturity Securities with Unrealized Losses
The following table shows the gross unrealized losses and estimated fair value of held-to-maturity securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at September 30, 2021:

 Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities held-to-maturity
Estimated
Fair
Value		Unrealized
Losses		Estimated
Fair
Value		Unrealized
Losses		Estimated
Fair
Value		Unrealized
Losses
December 31, 2021
State, county and municipal securities$3,707 $(198)$— $— $3,707 $(198)
Mortgage-backed securities69,495 (1,450)— — 69,495 (1,450)
Total debt securities held-to-maturity$73,202 $(1,648)$— $— $73,202 $(1,648)
Schedule of Investments Available-for-sale, Allowance for Credit Loss The remaining $195,000 in unrealized loss was determined to be from factors other than credit.
For the Years Ended December 31,
(dollars in thousands)20212020
Allowance for credit losses
Beginning balance$112 $— 
Current-period provision for expected credit losses(112)112 
Ending balance$— $112 
The Company's held-to-maturity securities have zero expected credit losses and no related allowance for credit losses has been established.
Gross Realized Gains And Losses On Sales Of Available For Sale Securities
The following table is a summary of sales activities in the Company's investment securities available-for-sale:
For the Years Ended December 31,
(dollars in thousands)202120202019
Gross gains on sales of securities$— $— $522 
Gross losses on sales of securities— — (464)
Net realized gains on sales of securities available-for-sale$— $— $58 
Sales proceeds$— $— $64,995 
Schedule of Gain (Loss) on Investments Net gain (loss) on securities reported on the consolidated statements of income is comprised of the following:
For the Years Ended December 31,
(dollars in thousands)202120202019
Net realized gains on sales of securities available-for-sale$— $— $58 
Unrealized holding gains (losses) on equity securities(17)5 19 
Net realized gains on sales of other investments532 — 61 
Net gain (loss) on securities$515 $5 $138