XML 34 R24.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2024
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, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Securities Available for Sale:
U.S. treasury securities$2,296 $— $(11)$2,285 
U.S. agency securities4,433 — (394)4,039 
Asset backed securities21,526 14 (268)21,272 
State, county & municipal securities123,045 — (15,986)107,059 
Corporate debt securities53,343 — (6,535)46,808 
Mortgage-backed securities226,495 158 (25,163)201,490 
Total$431,138 $172 $(48,357)$382,953 
March 31, 2024Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Securities Held to Maturity:
U.S. treasury securities$93,728 $— $(3,995)$89,733 
U.S. agency securities16,250 — (1,502)14,748 
State, county & municipal securities136,816 175 (14,727)122,264 
Mortgage-backed securities200,363 — (28,256)172,107 
Total$447,157 $175 $(48,480)$398,852 
December 31, 2023Amortized
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 & municipal securities124,524 6 (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, 2023Amortized
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 
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$2,511 $2,500 $9,823 $9,679 
Due after one year through five years18,090 16,800 93,608 89,399 
Due after five years through ten years97,783 84,148 72,591 64,113 
Due after ten years86,259 78,015 70,772 63,554 
$204,643 $181,463 $246,794 $226,745 
Mortgage-backed securities226,495 201,490 200,363 172,107 
$431,138 $382,953 $447,157 $398,852 
Schedule of Continuous Unrealized Loss Position
Information pertaining to available-for-sale securities with gross unrealized losses at March 31, 2024 and December 31, 2023 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
March 31, 2024
U.S. treasury securities$2,285 $(11)$— $— $2,285 $(11)
U.S. agency securities— — 4,039 (394)4,039 (394)
Asset backed securities4,285 (16)13,107 (252)17,392 (268)
State, county & municipal securities1,570 (146)105,239 (15,840)106,809 (15,986)
Corporate debt securities260 (140)46,548 (6,395)46,808 (6,535)
Mortgage-backed securities— — 193,006 (25,163)193,006 (25,163)
$8,400 $(313)$361,939 $(48,044)$370,339 $(48,357)
December 31, 2023
U.S. treasury securities$— $— $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 & 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)
$14,596 $(367)$387,424 $(47,603)$402,020 $(47,970)
Information pertaining to held-to-maturity securities with gross unrealized losses at March 31, 2024 and December 31, 2023 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
March 31, 2024
U.S. treasury securities$— $— $89,733 $(3,995)$89,733 $(3,995)
U.S. agency securities— — 14,748 (1,502)14,748 (1,502)
State, county & municipal securities5,756 (41)104,271 (14,686)110,027 (14,727)
Mortgage-backed securities— — 172,107 (28,256)172,107 (28,256)
$5,756 $(41)$380,859 $(48,439)$386,615 $(48,480)
December 31, 2023
U.S. treasury securities$— $— $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)