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INVESTMENT SECURITIES (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available for Sale 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)
December 31, 2023
 
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
 
Fair
Value
Securities Available for Sale:    
U.S. treasury securities$500 $— $(2)$498 
U.S. agency securities4,500 — (361)4,139 
Asset backed securities25,035 — (405)24,630 
State, county and municipal securities124,524 (15,494)109,036 
Corporate debt securities53,834 16 (6,460)47,390 
Mortgage-backed securities246,901 36 (25,248)221,689 
Total$455,294 $58 $(47,970)$407,382 
December 31, 2023 
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
 
Fair
Value
Securities Held to Maturity:
U.S. treasury securities$93,306 $— $(3,212)$90,094 
U.S. agency securities16,282 — (1,424)14,858 
State, county & municipal securities136,685 356 (13,859)123,182 
Mortgage-backed securities202,758 — (25,316)177,442 
Total$449,031 $356 $(43,811)$405,576 
December 31, 2022
 
Amortized
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 and 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, 2022 
Amortized
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 Unrealized Loss on Investments
Information pertaining to available-for-sale securities with gross unrealized losses at December 31, 2023 and December 31, 2022 aggregated by investment category and length of time that securities have been in a continuous unrealized loss position are summarized as follows:
 Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Estimated
Fair
Value
 
Unrealized
Losses
Estimated
Fair
Value
 
Unrealized
Losses
Estimated
Fair
Value
 
Unrealized
Losses
December 31, 2023      
U.S. treasury securities$— $— $498 $(2)$498 $(2)
U.S. agency securities— — 4,139 (361)4,139 (361)
Asset backed securities6,196 (75)17,424 (330)23,620 (405)
State, county and municipal securities1,033 (138)107,443 (15,356)108,476 (15,494)
Corporate debt securities1,446 (105)45,044 (6,355)46,490 (6,460)
Mortgage-backed securities5,921 (49)212,876 (25,199)218,797 (25,248)
Total debt securities$14,596 $(367)$387,424 $(47,603)$402,020 $(47,970)
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 and 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)
Total debt securities$183,951 $(13,575)$246,349 $(44,251)$430,300 $(57,826)
 
Information pertaining to held-to-maturity securities with gross unrealized losses at December 31, 2023 and December 31, 2022 aggregated by investment category and length of time that individual securities have been in a continuous loss position is summarized 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
December 31, 2023
U.S. treasury securities$— $— $90,094 $(3,212)$90,094 $(3,212)
U.S. agency securities— — 14,858 (1,424)14,858 (1,424)
State, county & municipal securities1,461 (78)103,500 (13,781)104,961 (13,859)
Mortgage-backed securities— — 177,442 (25,316)177,442 (25,316)
$1,461 $(78)$385,894 $(43,733)$387,355 $(43,811)
December 31, 2022
U.S. treasury securities$— $— $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)
Schedule of Investments Classified by Contractual Maturity Date 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$715 $713 $3,937 $3,882 
Due after one year through five years15,714 14,697 94,194 90,873 
Due after five years through ten years102,474 88,639 76,529 68,260 
Due after ten years89,490 81,644 71,613 65,119 
$208,393 $185,693 $246,273 $228,134 
Mortgage-backed securities246,901 221,689 202,758 177,442 
$455,294 $407,382 $449,031 $405,576