XML 33 R25.htm IDEA: XBRL DOCUMENT v3.23.3
Investment Securities (Tables)
9 Months Ended
Sep. 30, 2023
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)
September 30, 2023Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Available for Sale:
U.S. treasury securities$799 $— $(8)$791 
U.S. agency securities4,613 — (510)4,103 
Asset backed securities27,250 (411)26,845 
State, county & municipal securities124,882 — (23,228)101,654 
Corporate debt securities54,694 — (7,665)47,029 
Mortgage-backed securities251,658 — (32,533)219,125 
Total$463,896 $$(64,355)$399,547 
September 30, 2023Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held to Maturity:
U.S. treasury securities$92,880 $— $(5,483)$87,397 
U.S. agency securities16,314 — (1,975)14,339 
State, county & municipal securities136,546 — (22,986)113,560 
Mortgage-backed securities205,316 — (35,547)169,769 
Total$451,056 $— $(65,991)$385,065 
December 31, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Available for Sale:
U.S. treasury securities$1,644 $— $(22)$1,622 
U.S. agency securities5,035 — (450)4,585 
Asset backed securities31,468 — (1,480)29,988 
State, county & municipal securities126,119 — (21,363)104,756 
Corporate debt securities54,741 164 (5,320)49,585 
Mortgage-backed securities271,199 (29,191)242,017 
Total$490,206 $173 $(57,826)$432,553 
December 31, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held to Maturity:
U.S. treasury securities$91,615 $— $(4,149)$87,466 
U.S. agency securities16,409 — (1,838)14,571 
State, county & municipal securities136,138 32 (19,518)116,652 
Mortgage-backed securities221,696 — (29,121)192,575 
Total$465,858 $32 $(54,626)$411,264 
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$1,014 $1,002 $— $— 
Due after one year through five years15,542 14,127 91,725 86,380 
Due after five years through ten years95,886 79,640 75,296 64,377 
Due after ten years99,796 85,653 78,719 64,539 
$212,238 $180,422 $245,740 $215,296 
Mortgage-backed securities251,658 219,125 205,316 169,769 
$463,896 $399,547 $451,056 $385,065 
Schedule of Continuous Unrealized Loss Position Information pertaining to available-for-sale securities with gross unrealized losses at September 30, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position
is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
September 30, 2023
U.S. treasury securities$— $— $791 $(8)$791 $(8)
U.S. agency securities— — 4,103 (510)4,103 (510)
Asset backed securities5,934 (14)18,598 (397)24,532 (411)
State, county & municipal securities1,457 (276)100,197 (22,952)101,654 (23,228)
Corporate debt securities7,660 (1,632)39,369 (6,033)47,029 (7,665)
Mortgage-backed securities16,088 (424)203,037 (32,109)219,125 (32,533)
$31,139 $(2,346)$366,095 $(62,009)$397,234 $(64,355)
December 31, 2022
U.S. treasury securities$1,377 $(17)$245 $(5)$1,622 $(22)
U.S. agency securities3,221 (257)1,364 (193)4,585 (450)
Asset backed securities10,780 (319)19,208 (1,161)29,988 (1,480)
State, county & municipal securities29,284 (3,629)75,472 (17,734)104,756 (21,363)
Corporate debt securities17,258 (1,463)30,651 (3,857)47,909 (5,320)
Mortgage-backed securities122,031 (7,890)119,409 (21,301)241,440 (29,191)
$183,951 $(13,575)$246,349 $(44,251)$430,300 $(57,826)
Information pertaining to held-to-maturity securities with gross unrealized losses at September 30, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
September 30, 2023
U.S. treasury securities$— $— $87,397 $(5,483)$87,397 $(5,483)
U.S. agency securities— — 14,339 (1,975)14,339 (1,975)
State, county & municipal securities18,041 (1,349)95,519 (21,637)113,560 (22,986)
Mortgage-backed securities— — 169,769 (35,547)169,769 (35,547)
$18,041 $(1,349)$367,024 $(64,642)$385,065 $(65,991)
December 31, 2022
U.S. treasury securities$— $— $87,466 $(4,149)$87,466 $(4,149)
U.S. agency securities— — 14,571 (1,838)14,571 (1,838)
State, county & municipal securities9,858 (1,392)105,734 (18,126)115,592 (19,518)
Mortgage-backed securities13,580 (729)178,995 (28,392)192,575 (29,121)
$23,438 $(2,121)$386,766 $(52,505)$410,204 $(54,626)