SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

SECURITIES

Schedule of Debt Securities Available for Sale and Held to Maturity

The amortized cost and fair value of debt securities as of September 30, 2023 and December 31, 2022, by contractual maturity, are shown in the tables below. Expected maturities may differ from contractual maturities because the securities may be called or prepaid, with or without prepayment penalties. Securities not due at a single maturity date are shown separately.

(Dollars in thousands)	September 30, 2023
					Gross		Gross
	Amortized		Fair		Unrealized		Unrealized
Debt Securities Available for Sale	Cost		Value		Gains		Losses
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	15,500	$	13,727	$	—	$	(1,773)
		15,500		13,727		—		(1,773)
Obligations of state and political subdivisions
Within one year		490		490		—		—
After one year but within five years		2,761		2,595		—		(166)
After five years but within ten years		4,613		3,628		—		(985)
		7,864		6,713		—		(1,151)
Corporate debt securities
After one year but within five years		4,625		3,962		—		(663)
After five years but within ten years		13,000		9,412		—		(3,588)
		17,625		13,374		—		(4,251)
Mortgage-backed securities		36,263		32,713		—		(3,550)
Total	$	77,252	$	66,527	$	—	$	(10,725)

(Dollars in thousands)	September 30, 2023
					Gross		Gross
	Amortized		Fair		Unrecognized		Unrecognized
Debt Securities Held to Maturity	Cost		Value		Gains		Losses
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	15,766	$	15,316	$	—	$	(450)
After five years but within ten years		13,517		12,949		—		(568)
		29,283		28,265		—		(1,018)
Mortgage-backed securities		173,363		160,956		—		(12,407)
Total	$	202,646	$	189,221	$	—	$	(13,425)

(Dollars in thousands)	December 31, 2022
					Gross		Gross
	Amortized		Fair		Unrealized		Unrealized
Debt Securities Available for Sale	Cost		Value		Gains		Losses
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	15,500	$	13,705	$	—	$	(1,795)
		15,500		13,705		—		(1,795)
Obligations of state and political subdivisions
After one year but within five years		4,076		3,924		—		(152)
After five years but within ten years		4,608		3,755		—		(853)
		8,684		7,679		—		(1,005)
Corporate debt securities
After one year but within five years		4,673		4,190		—		(483)
After five years but within ten years		13,000		11,151		—		(1,849)
		17,673		15,341		—		(2,332)
Mortgage-backed securities		39,479		36,811		—		(2,668)
Total	$	81,336	$	73,536	$	—	$	(7,800)

(Dollars in thousands)	December 31, 2022
					Gross		Gross
	Amortized		Fair		Unrecognized		Unrecognized
Debt Securities Held to Maturity	Cost		Value		Gains		Losses
Obligations of U.S. Government sponsored enterprises
After one year but within five years	$	13,039	$	13,067	$	28	$	—
After five years but within ten years		15,561		15,605		56		(12)
		28,600		28,672		84		(12)
Mortgage-backed securities		180,965		181,215		1,682		(1,432)
Total	$	209,565	$	209,887	$	1,766	$	(1,444)

Summary of Proceeds Received from Sales or Calls of Available for Sale Securities

(Dollars in thousands)	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Gross proceeds from sales and calls of securities	$	—	$	6,137	$	—	$	23,271
Gross realized gains from sold and called securities	$	—	$	—		—		25
Gross realized losses from sold and called securities		—		(378)		—		(1,477)
Net gains (losses) from sales and calls of securities	$	—	$	(378)	$	—	$	(1,452)

Schedule of Gross Unrealized Losses and Fair Value

The following tables summarize debt securities with unrealized and unrecognized losses at September 30, 2023 and December 31, 2022, aggregated by category and length of time in a continuous unrealized loss position.

	Unrealized Losses at September 30, 2023
	Less Than 12 Months					12 Months or More					Total
(Dollars in thousands)	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Securities available for sale
Obligations of U.S. Government sponsored enterprises	—	$	—	$	—	3	$	13,727	$	(1,773)	3	$	13,727	$	(1,773)
Obligations of state and political subdivisions	2		1,429		(48)	7		4,794		(1,103)	9		6,223		(1,151)
Corporate debt securities	—		—		—	9		13,374		(4,251)	9		13,374		(4,251)
Mortgage-backed securities	—		—		—	34		32,713		(3,550)	34		32,713		(3,550)
Total temporarily impaired securities available for sale	2	$	1,429	$	(48)	53	$	64,608	$	(10,677)	55	$	66,037	$	(10,725)
Securities held to maturity
Obligations of U.S. Government sponsored enterprises	7	$	28,265	$	(1,018)	—	$	—	$	—	7	$	28,265	$	(1,018)
Mortgage-backed securities	35		114,476		(5,763)	15		46,480		(6,644)	50		160,956		(12,407)
Total temporarily impaired securities held to maturity	42	$	142,741	$	(6,781)	15	$	46,480	$	(6,644)	57	$	189,221	$	(13,425)
Total	44	$	144,170	$	(6,829)	68	$	111,088	$	(17,321)	112	$	255,258	$	(24,150)

	Unrealized Losses at December 31, 2022
	Less Than 12 Months					12 Months or More					Total
(Dollars in thousands)	Number					Number					Number
	of	Fair		Unrealized		of	Fair		Unrealized		of	Fair		Unrealized
	Securities	Value		Losses		Securities	Value		Losses		Securities	Value		Losses
Securities available for sale
Obligations of U.S. Government sponsored enterprises	1	$	2,456	$	(44)	2	$	11,248	$	(1,751)	3	$	13,704	$	(1,795)
Obligations of state and political subdivisions	4		2,781		(20)	7		4,898		(985)	11		7,679		(1,005)
Corporate debt securities	5		9,831		(1,669)	4		5,510		(663)	9		15,341		(2,332)
Mortgage-backed securities	33		36,493		(2,630)	1		319		(38)	34		36,812		(2,668)
Total temporarily impaired securities available for sale	43	$	51,561	$	(4,363)	14	$	21,975	$	(3,437)	57	$	73,536	$	(7,800)
Securities held to maturity
Obligations of U.S. Government sponsored enterprises	1	$	3,463	$	(12)	—	$	—	$	—	1	$	3,463	$	(12)
Mortgage-backed securities	9		21,643		(392)	12		48,788		(1,040)	21		70,431		(1,432)
Total temporarily impaired securities held to maturity	10	$	25,106	$	(404)	12	$	48,788	$	(1,040)	22	$	73,894	$	(1,444)
Total	53	$	76,667	$	(4,767)	26	$	70,763	$	(4,477)	79	$	147,430	$	(9,244)

Schedule of amortized cost of held to maturity debt securities by credit quality indicator

The following table summarizes the amortized cost of held to maturity debt securities aggregated by credit quality indicator based on the latest information available as of September 30, 2023.

(Dollars in thousands)
September 30, 2023	AAA		Total
Securities held to maturity
Obligations of U.S. Government sponsored enterprises	$	29,283	$	29,283
Mortgage-backed securities		173,363		173,363
	$	202,646	$	202,646