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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2022

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:

	March 31, 2022
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	64,978		-		2,919		62,059
State and political subdivisions		41		-		-		41
Mortgage backed securities and collateralized mortgage obligations - residential		257,248		80		13,283		244,045
Corporate bonds		76,086		49		2,046		74,089
Small Business Administration - guaranteed participation securities		29,181		-		1,095		28,086
Other		686		-		15		671
Total Securities Available for Sale	$	428,220		129		19,358		408,991

	December 31, 2021
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	59,976		-		797		59,179
State and political subdivisions		41		-		-		41
Mortgage backed securities and collateralized mortgage obligations - residential		269,907		3,367		2,476		270,798
Corporate bonds		45,805		157		625		45,337
Small Business Administration - guaranteed participation securities		31,303		371		-		31,674
Other		685		-		1		684
Total securities available for sale	$	407,717		3,895		3,899		407,713

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

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

The proceeds from sales and calls and maturities of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three months ended March 31, 2022 and 2021 are as follows:

	Three months ended March 31,
(dollars in thousands)	2022		2021

Proceeds from sales	$	-		-
Proceeds from calls/paydowns		17,923		36,820
Proceeds from maturities		5,000		55
Gross realized gains		-		-
Gross realized losses		-		-

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:

	March 31, 2022
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	9,183		383		16		9,550

Total held to maturity	$	9,183		383		16		9,550

	December 31, 2021
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	9,923		773		1		10,695

Total held to maturity	$	9,923		773		1		10,695

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 March 31, 2022, 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	$	10,071		10,120
Due in one year through five years		131,720		126,740
Due after five years through ten years		-		-
Mortgage backed securities and collateralized mortgage obligations - residential		257,248		244,045
Small Business Administration - guaranteed participation securities		29,181		28,086
	$	428,220		408,991

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:

	March 31, 2022
	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 Unreal. Loss

U.S. government sponsored enterprises	$	23,723		1,264		38,336		1,655		62,059		2,919
Mortgage backed securities and collateralized mortgage obligations - residential		160,318		5,999		73,797		7,284		234,115		13,283
Corporate bonds		49,993		1,115		14,070		931		64,063		2,046
Small Business Administration - guaranteed participation securities		28,086		1,095		-		-		28,086		1,095
Other		585		15		-		-		585		15

Total	$	262,705		9,488		126,203		9,870		388,908		19,358

	December 31, 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 Unreal. Loss

U.S. government sponsored enterprises	$	49,279		697		9,900		100		59,179		797
Mortgage backed securities and collateralized mortgage obligations - residential		93,447		1,888		22,098		588		115,545		2,476
Corporate bonds		15,670		171		14,546		454		30,216		625
Other		648		1		-		-		648		1

Total	$	159,044		2,757		46,544		1,142		205,588		3,899

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 March 31, 2022, 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.

(dollars in thousands)	Amortized Cost		Fair Value
Mortgage backed securities and collateralized mortgage obligations - residential	$	9,183		9,550
	$	9,183		9,550