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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity along with gross unrealized gains and losses are summarized as follows:
(dollars in thousands)
March 31, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Available for Sale:
U.S. treasury securities$95,447 $$(4,449)$91,001 
U.S. agency7,143 (251)6,895 
Asset backed securities28,887 — (531)28,356 
State, county & municipal securities174,561 15 (15,695)158,881 
Corporate debt securities48,113 200 (1,719)46,594 
Mortgage-backed securities339,028 104 (17,567)321,565 
Total$693,179 $325 $(40,212)$653,292 
March 31, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held to Maturity:
U.S. treasury securities$21,511 $— $(776)$20,735 
U.S. agency15,507 — (743)14,764 
State, county & municipal securities88,781 — (6,323)82,458 
Mortgage-backed securities181,210 — (10,357)170,853 
Total$307,009 $— $(18,199)$288,810 
December 31, 2021
Securities Available for Sale:
U.S. treasury securities$88,638 $— $(1,087)$87,551 
U.S. agency17,916 (140)17,781 
State, county & municipal securities252,632 877 (3,356)250,153 
Corporate debt securities48,153 520 (265)48,408 
Mortgage-backed securities539,172 2,160 (7,061)534,271 
Total$946,511 $3,562 $(11,909)$938,164 
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity This is often the case with mortgage-backed securities, which are disclosed separately in the table below.
Available for SaleHeld to Maturity
(dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due in one year or less$454 $454 $— $— 
Due after one year through five years71,981 69,718 6,678 6,505 
Due after five years through ten years121,335 113,599 45,654 43,466 
Due after ten years160,381 147,956 73,467 67,986 
$354,151 $331,727 $125,799 $117,957 
Mortgage-backed securities339,028 321,565 181,210 170,853 
$693,179 $653,292 $307,009 $288,810 
Schedule of Continuous Unrealized Loss Position Information pertaining to available-for-sale securities with gross unrealized losses at March 31, 2022 and December 31, 2021 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
March 31, 2022
U.S. Treasury$85,998 $(4,449)$$— $85,998 $(4,449)
U.S. agency6,893 (251)— — 6,893 (251)
Asset backed securities21,734 (356)4,052 (175)25,786 (531)
State, county & municipal securities142,665 (13,806)14,430 (1,889)157,095 (15,695)
Corporate debt securities43,103 (1,719)— — 43,103 (1,719)
Mortgage-backed securities260,863 (13,274)39,420 (4,293)300,283 (17,567)
$561,256 $(33,855)$57,902 $(6,357)$619,158 $(40,212)
December 31, 2021
U.S. Treasury$87,302 $(1,087)$— $— $87,302 $(1,087)
U.S. agency10,969 (140)— — 10,969 (140)
State, county & municipal securities180,551 (3,131)5,970 (225)186,521 (3,356)
Corporate debt securities31,977 (265)— — 31,977 (265)
Mortgage-backed securities377,413 (6,421)21,129 (640)398,542 (7,061)
$688,212 $(11,044)$27,099 $(865)$715,311 $(11,909)
Information pertaining to held-to-maturity securities with gross unrealized losses at March 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
March 31, 2022
U.S. Treasury$— $— $$— $— $— 
U.S. agency20,735 (776)— — 20,735 (776)
State, county & municipal securities14,764 (743)— — 14,764 (743)
Corporate debt securities81,674 (6,308)783 (15)82,457 (6,323)
Mortgage-backed securities153,938 (9,879)16,915 (478)170,853 (10,357)
$271,111 $(17,706)$17,698 $(493)$288,809 $(18,199)