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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2021

Amortized Cost and Fair Value of Securities Available For Sale

The amortized cost and fair value of the securities available for sale are as follows:

	September 30, 2021
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	59,974		-		225		59,749
State and political subdivisions		48		-		-		48
Mortgage backed securities and collateralized mortgage obligations - residential		290,508		5,095		2,018		293,585
Corporate bonds		45,914		327		326		45,915
Small Business Administration - guaranteed participation securities		33,650		919		-		34,569
Other		686		-		-		686
Total Securities Available for Sale	$	430,780		6,341		2,569		434,552

	December 31, 2020
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	20,000		-		32		19,968
State and political subdivisions		103		-		-		103
Mortgage backed securities and collateralized mortgage obligations - residential		308,432		7,749		23		316,158
Corporate bonds		59,185		916		162		59,939
Small Business Administration - guaranteed participation securities		40,955		1,262		-		42,217
Other		685		1		-		686

Total securities available for sale	$	429,360		9,928		217		439,071

Securities, Available-for-sale and Held-to-maturity [Abstract]

Amortized Cost and Fair Value of Held to Maturity Securities

The amortized cost and fair value of the held to maturity securities are as follows:

	September 30, 2021
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	10,701		945		-		11,646

Total held to maturity	$	10,701		945		-		11,646

	December 31, 2020
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	13,824		1,164		-		14,988

Total held to maturity	$	13,824		1,164		-		14,988

Proceeds from Sales and Calls of Securities Available For Sale, Gross Realized Gains and Gross Realized Losses

The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and nine months ended September 30, 2021 and 2020 are as follows:

	Three months ended September 30,
(dollars in thousands)	2021		2020

Proceeds from sales	$	-	$	-
Proceeds from calls/paydowns		47,100		43,052
Proceeds from maturities		3,500		-
Gross realized gains		-		-
Gross realized losses		-		-

	Nine months ended September 30,
(dollars in thousands)	2021		2020

Proceeds from sales	$	-	$	29,219
Proceeds from calls/paydowns		123,550		197,667
Proceeds from maturities		8,555		5,000
Gross realized gains		-		1,155
Gross realized losses		-		-

Securities Available for Sale [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table distributes the debt securities included in the available for sale portfolio as of September 30, 2021, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized Cost		Fair Value

Due in one year or less	$	15,667		15,954
Due in one year through five years		90,946		90,435
Due after five years through ten years		9		9
Mortgage backed securities and collateralized mortgage obligations - residential		290,508		293,585
Small Business Administration - guaranteed participation securities		33,650		34,569
	$	430,780		434,552

Gross Unrealized Losses on Investment Securities and Related Fair Values in Unrealized Loss Position

Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

	September 30, 2021
	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss

U.S. government sponsored enterprises	$	49,760		214		9,989		11		59,749		225
Mortgage backed securities and collateralized mortgage obligations - residential		94,466		1,910		6,361		108		100,827		2,018
Corporate bonds		5,345		8		14,682		318		20,027		326

Total	$	149,571		2,132		31,032		437		180,603		2,569

	December 31, 2020
	Less than 12 months				12 months or more				Total
(dollars in thousands)	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss

U.S. government sponsored enterprises	$	19,968		32		-		-		19,968		32
Mortgage backed securities and collateralized mortgage obligations - residential		19,471		22		-		-		19,471		22
Corporate bonds		14,901		99		4,937		63		19,838		162

Total	$	54,340		153		4,937		63		59,277		216

Held to Maturity Securities [Member]

Securities, Available-for-sale and Held-to-maturity [Abstract]

Debt Securities Based on Securities Contractual Maturity

The following table distributes the debt securities included in the held to maturity portfolio as of September 30, 2021, based on the securities’ final maturity. Actual maturities may differ because of securities prepayments and the right of certain issuers to call or prepay their obligations without penalty. Securities not due at a single maturity date are presented separately:

(dollars in thousands)	Amortized Cost		Fair Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	10,701		11,646
	$	10,701		11,646