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Investment Securities (Tables)

6 Months Ended

Jun. 30, 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:

	June 30, 2022
(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

U.S. government sponsored enterprises	$	104,571		106		3,577		101,100
State and political subdivisions		41		-		-		41
Mortgage backed securities and collateralized mortgage obligations - residential		307,819		18		20,387		287,450
Corporate bonds		90,883		4		3,147		87,740
Small Business Administration - guaranteed participation securities		26,855		-		1,427		25,428
Other		686		-		30		656
Total Securities Available for Sale	$	530,855		128		28,568		502,415

	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 of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three and six months ended June 30, 2022 and 2021 are as follows:

	Three months ended June 30,
(dollars in thousands)	2022		2021

Proceeds from sales	$	-	$	-
Proceeds from calls/paydowns		25,415		39,630
Proceeds from maturities		5,050		5,000
Gross realized gains		-		-
Gross realized losses		-		-

	Six months ended June 30,
(dollars in thousands)	2022		2021

Proceeds from sales	$	-	$	-
Proceeds from calls/paydowns		43,338		76,450
Proceeds from maturities		10,050		5,055
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:

	June 30, 2022
(dollars in thousands)	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	8,544		263		74		8,733
Total held to maturity	$	8,544		263		74		8,733

	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 held to maturity portfolio as of June 30, 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
Mortgage backed securities and collateralized mortgage obligations - residential	$	8,544		8,733
	$	8,544		8,733

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:

	June 30, 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 Unrealized Loss

U.S. government sponsored enterprises	$	18,705		874		47,289		2,703		65,994		3,577
Mortgage backed securities and collateralized mortgage obligations - residential		218,663		10,104		68,251		10,283		286,914		20,387
Corporate bonds		63,768		1,884		18,934		1,263		82,702		3,147
Small Business Administration - guaranteed participation securities		25,428		1,427		-		-		25,428		1,427
Other		620		30		-		-		620		30

Total	$	327,184		14,319		134,474		14,249		461,658		28,568

	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 Unrealized 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 available for sale portfolio as of June 30, 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	$	5,039		5,044
Due in one year through five years		181,142		174,458
Due after five years through ten years		10,000		10,035
Mortgage backed securities and collateralized mortgage obligations - residential		307,819		287,450
Small Business Administration - guaranteed participation securities		26,855		25,428
	$	530,855		502,415