Investment Securities (Tables)

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

The amortized cost and estimated fair value of securities available for sale along with gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
March 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available for Sale:
U.S. treasury securities	$	245	$	—	$	—	$	245
U.S. agency	9,863		11		(70)		9,804
Mutual fund	3,998		—		—		3,998
State, county & municipal securities	73,041		356		(1,073)		72,324
Corporate debt securities	5,250		1		(22)		5,229
Mortgage-backed securities	338,990		5,514		(2,375)		342,129
	$	431,387	$	5,882	$	(3,540)	$	433,729
December 31, 2020
Securities Available for Sale:
U.S. treasury securities	$	245	$	—	$	—	$	245
U.S. agency	1,000		4		—		1,004
State, county & municipal securities	61,298		1,155		(65)		62,388
Corporate debt securities	4,250		1		(1)		4,250
Mortgage-backed securities	305,438		7,837		(348)		312,927
	$	372,231	$	8,997	$	(414)	$	380,814

Investments Classified by Contractual Maturity Date

This is often the case with mortgage-backed securities, which are disclosed separately in the table below.

	Securities Available for Sale
(dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	6,243	$	6,244
Due after one year through five years	1,910		1,948
Due after five years through ten years	33,362		33,152
Due after ten years	50,882		50,256
	$	92,397	$	91,600
Mortgage-backed securities	338,990		342,129
	$	431,387	$	433,729

Schedule of Unrealized Loss on Investments

Information pertaining to securities with gross unrealized losses at March 31, 2021 and December 31, 2020 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:

	Less Than 12 Months				12 Months or Greater				Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
March 31, 2021
U.S. agency	$	8,662	$	(70)	$	—	$	—	$	8,662	$	(70)
State, county & municipal securities	47,942		(1,073)		—		—		47,942		(1,073)
Corporate debt securities	1,728		(22)		—		—		1,728		(22)
Mortgage-backed securities	120,777		(2,159)		4,005		(216)		124,782		(2,375)
	$	170,447	$	(3,254)	$	4,005	$	(216)	$	174,452	$	(3,470)
December 31, 2020
State, county & municipal securities	$	8,282	$	(65)	$	—	$	—	$	8,282	$	(65)
Corporate debt securities	999		(1)		—		—		999		(1)
Mortgage-backed securities	28,835		(77)		3,949		(271)		32,784		(348)
	$	38,116	$	(143)	$	3,949	$	(271)	$	42,065	$	(414)