Investments	12 Months Ended
Dec. 31, 2021
Investments [Abstract]
Investments	Note 4. Investments Available for Sale (AFS) SecuritiesThe following table summarizes the amortized cost and fair value of securities available-for-sale at December 31, 2021 and 2020 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss). The amortized cost and estimated fair value of investment securities available for sale as of December 31, 2021 and 2020 is as follows: (Dollars in thousands) Gross Gross Amortized unrealized unrealized FairDecember 31, 2021 cost gains losses valueU.S. Government and Agency securities $ 94,360 $ 115 $ (715) $ 93,760Municipal securities 206,501 7,148 (1,422) 212,227Corporate securities 24,794 333 (188) 24,939Agency mortgage-backed securities 123,686 877 (1,894) 122,669Non-Agency mortgage-backed securities 30,904 34 (272) 30,666Asset-backed securities 45,472 253 (175) 45,550Total $ 525,717 $ 8,760 $ (4,666) $ 529,811 (Dollars in thousands) Gross Gross Amortized unrealized unrealized FairDecember 31, 2020 cost gains losses valueU.S. Government and Agency securities $ 12,594 $ 20 $ (40) $ 12,574Municipal securities 236,253 11,020 (219) 247,054Corporate securities 20,421 22 (155) 20,288Agency mortgage-backed securities 70,443 1,905 (107) 72,241Non-Agency mortgage-backed securities 8,412 56 (15) 8,453Asset-backed securities 36,246 249 (165) 36,330Total $ 384,369 $ 13,272 $ (701) $ 396,940 At December 31, 2021 and 2020, the fair value of investment securities pledged to secure public funds and trust deposits totaled $160.3 million and $137.4 million, respectively. The Bank has no investment in a single issuer that exceeds 10% of shareholders equity. The amortized cost and estimated fair value of debt securities at December 31, 2021, by contractual maturity are shown below. Actual maturities may differ from contractual maturities because of prepayment or call options embedded in the securities. Mortgage-backed and asset-backed securities without defined maturity dates are reported on a separate line. (Dollars in thousands) Amortized‎cost Fair‎valueDue in one year or less $ 1,830 $ 1,862Due after one year through five years 6,039 6,187Due after five years through ten years 154,192 154,833Due after ten years 163,594 168,044 325,655 330,926Mortgage-backed and asset-backed securities 200,062 198,885Total $ 525,717 $ 529,811 The composition of the net realized securities gains for the years ended December 31 is as follows: (Dollars in thousands) 2021 2020Proceeds $ 36,666 $ 3,141 Gross gains realized 626 62Gross losses realized (499) (33)Net gains realized $ 127 $ 29 Tax provision on net gains realized $ (27) $ (6) Impairment: The following table reflects the temporary impairment in the investment portfolio, aggregated by investment category, length of time that individual securities have been in a continuous unrealized loss position and the number of securities in each category as of December 31, 2021 and 2020. For securities with an unrealized loss, Management applies a systematic methodology in order to perform an assessment of the potential for other-than-temporary impairment. In the case of debt securities, investments considered for other-than-temporary impairment: (1) had a specified maturity or repricing date, (2) were generally expected to be redeemed at par, and (3) were expected to achieve a recovery in market value within a reasonable period of time. In addition, the Bank considers whether it intends to sell these securities or whether it will be forced to sell these securities before the earlier of amortized cost recovery or maturity. The impairment identified on debt securities and subject to assessment at December 31, 2021, was deemed to be temporary and required no further adjustments to the financial statements, unless otherwise noted. December 31, 2021 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands)Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities$ 78,000 $ (701) 24 $ 2,880 $ (14) 4 $ 80,880 $ (715) 28 Municipal securities 38,997 (910) 44 15,404 (512) 16 54,401 (1,422) 60 Corporate securities 8,954 (132) 17 1,694 (56) 3 10,648 (188) 20 Agency mortgage-backed securities 76,477 (1,517) 70 10,771 (377) 11 87,248 (1,894) 81 Non-Agency mortgage-backed securities 15,215 (215) 11 1,956 (57) 1 17,171 (272) 12 Asset-backed securities 18,829 (149) 21 2,348 (26) 5 21,177 (175) 26 Total temporarily impaired securities$ 236,472 $ (3,624) 187 $ 35,053 $ (1,042) 40 $ 271,525 $ (4,666) 227 December 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands)Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities$ 3,966 $ (21) 5 $ 4,185 $ (19) 11 $ 8,151 $ (40) 16 Municipal securities 27,022 (219) 28 — — — 27,022 (219) 28 Corporate securities 7,576 (37) 13 3,040 (118) 4 10,616 (155) 17 Agency mortgage-backed securities 18,390 (101) 17 3,355 (6) 5 21,745 (107) 22 Non-Agency mortgage-backed securities 2,506 (15) 2 — — — 2,506 (15) 2 Asset-backed securities 1,458 (12) 2 11,452 (153) 15 12,910 (165) 17 Total temporarily impaired securities$ 60,918 $ (405) 67 $ 22,032 $ (296) 35 $ 82,950 $ (701) 102 The following table represents the cumulative credit losses on debt securities recognized in earnings as of December 31, 2021: (Dollars in thousands) Twelve Months Ended 2021 2020Balance of cumulative credit-related OTTI at January 1 $ 272 $ 272Additions for credit-related OTTI not previously recognized — —Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis — —Decreases for previously recognized credit-related OTTI because there was an intent to sell — —Reduction for increases in cash flows expected to be collected — —Balance of credit-related OTTI at December 31 $ 272 $ 272 Equity Securities at fair valueThe Corporation owns one equity investment with a readily determinable fair value. At December 31, 2021 and 2020, this investment was reported at a fair value of $481 thousand and $391 thousand, respectively, with changes in value reported through income.

Investments

12 Months Ended

Dec. 31, 2021

Note 4. Investments Available for Sale (AFS) SecuritiesThe following table summarizes the amortized cost and fair value of securities available-for-sale at December 31, 2021 and 2020 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss). The amortized cost and estimated fair value of investment securities available for sale as of December 31, 2021 and 2020 is as follows: (Dollars in thousands) Gross Gross Amortized unrealized unrealized FairDecember 31, 2021 cost gains losses valueU.S. Government and Agency securities $ 94,360 $ 115 $ (715) $ 93,760Municipal securities 206,501 7,148 (1,422) 212,227Corporate securities 24,794 333 (188) 24,939Agency mortgage-backed securities 123,686 877 (1,894) 122,669Non-Agency mortgage-backed securities 30,904 34 (272) 30,666Asset-backed securities 45,472 253 (175) 45,550Total $ 525,717 $ 8,760 $ (4,666) $ 529,811 (Dollars in thousands) Gross Gross Amortized unrealized unrealized FairDecember 31, 2020 cost gains losses valueU.S. Government and Agency securities $ 12,594 $ 20 $ (40) $ 12,574Municipal securities 236,253 11,020 (219) 247,054Corporate securities 20,421 22 (155) 20,288Agency mortgage-backed securities 70,443 1,905 (107) 72,241Non-Agency mortgage-backed securities 8,412 56 (15) 8,453Asset-backed securities 36,246 249 (165) 36,330Total $ 384,369 $ 13,272 $ (701) $ 396,940 At December 31, 2021 and 2020, the fair value of investment securities pledged to secure public funds and trust deposits totaled $160.3 million and $137.4 million, respectively. The Bank has no investment in a single issuer that exceeds 10% of shareholders equity. The amortized cost and estimated fair value of debt securities at December 31, 2021, by contractual maturity are shown below. Actual maturities may differ from contractual maturities because of prepayment or call options embedded in the securities. Mortgage-backed and asset-backed securities without defined maturity dates are reported on a separate line. (Dollars in thousands) Amortized‎cost Fair‎valueDue in one year or less $ 1,830 $ 1,862Due after one year through five years 6,039 6,187Due after five years through ten years 154,192 154,833Due after ten years 163,594 168,044 325,655 330,926Mortgage-backed and asset-backed securities 200,062 198,885Total $ 525,717 $ 529,811 The composition of the net realized securities gains for the years ended December 31 is as follows: (Dollars in thousands) 2021 2020Proceeds $ 36,666 $ 3,141 Gross gains realized 626 62Gross losses realized (499) (33)Net gains realized $ 127 $ 29 Tax provision on net gains realized $ (27) $ (6) Impairment: The following table reflects the temporary impairment in the investment portfolio, aggregated by investment category, length of time that individual securities have been in a continuous unrealized loss position and the number of securities in each category as of December 31, 2021 and 2020. For securities with an unrealized loss, Management applies a systematic methodology in order to perform an assessment of the potential for other-than-temporary impairment. In the case of debt securities, investments considered for other-than-temporary impairment: (1) had a specified maturity or repricing date, (2) were generally expected to be redeemed at par, and (3) were expected to achieve a recovery in market value within a reasonable period of time. In addition, the Bank considers whether it intends to sell these securities or whether it will be forced to sell these securities before the earlier of amortized cost recovery or maturity. The impairment identified on debt securities and subject to assessment at December 31, 2021, was deemed to be temporary and required no further adjustments to the financial statements, unless otherwise noted. December 31, 2021 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands)Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities$ 78,000 $ (701) 24 $ 2,880 $ (14) 4 $ 80,880 $ (715) 28 Municipal securities 38,997 (910) 44 15,404 (512) 16 54,401 (1,422) 60 Corporate securities 8,954 (132) 17 1,694 (56) 3 10,648 (188) 20 Agency mortgage-backed securities 76,477 (1,517) 70 10,771 (377) 11 87,248 (1,894) 81 Non-Agency mortgage-backed securities 15,215 (215) 11 1,956 (57) 1 17,171 (272) 12 Asset-backed securities 18,829 (149) 21 2,348 (26) 5 21,177 (175) 26 Total temporarily impaired securities$ 236,472 $ (3,624) 187 $ 35,053 $ (1,042) 40 $ 271,525 $ (4,666) 227 December 31, 2020 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands)Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities$ 3,966 $ (21) 5 $ 4,185 $ (19) 11 $ 8,151 $ (40) 16 Municipal securities 27,022 (219) 28 — — — 27,022 (219) 28 Corporate securities 7,576 (37) 13 3,040 (118) 4 10,616 (155) 17 Agency mortgage-backed securities 18,390 (101) 17 3,355 (6) 5 21,745 (107) 22 Non-Agency mortgage-backed securities 2,506 (15) 2 — — — 2,506 (15) 2 Asset-backed securities 1,458 (12) 2 11,452 (153) 15 12,910 (165) 17 Total temporarily impaired securities$ 60,918 $ (405) 67 $ 22,032 $ (296) 35 $ 82,950 $ (701) 102 The following table represents the cumulative credit losses on debt securities recognized in earnings as of December 31, 2021: (Dollars in thousands) Twelve Months Ended 2021 2020Balance of cumulative credit-related OTTI at January 1 $ 272 $ 272Additions for credit-related OTTI not previously recognized — —Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis — —Decreases for previously recognized credit-related OTTI because there was an intent to sell — —Reduction for increases in cash flows expected to be collected — —Balance of credit-related OTTI at December 31 $ 272 $ 272 Equity Securities at fair valueThe Corporation owns one equity investment with a readily determinable fair value. At December 31, 2021 and 2020, this investment was reported at a fair value of $481 thousand and $391 thousand, respectively, with changes in value reported through income.