Summary of Amortized Cost and Fair Values of Investment Securities Available for Sale |
The following tables present amortized cost and fair values of investment securities available for sale as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
(Dollars in thousands) |
|
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Fair Value |
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal |
|
$ |
60,630 |
|
|
$ |
— |
|
|
$ |
(9,598 |
) |
|
$ |
51,032 |
|
U.S. Treasury and agencies |
|
|
72,041 |
|
|
|
— |
|
|
|
(11,956 |
) |
|
|
60,085 |
|
Mortgage backed securities |
|
|
246,973 |
|
|
|
62 |
|
|
|
(39,215 |
) |
|
|
207,820 |
|
Corporate bonds |
|
|
42,914 |
|
|
|
169 |
|
|
|
(2,504 |
) |
|
|
40,579 |
|
Total investment securities |
|
$ |
422,558 |
|
|
$ |
231 |
|
|
$ |
(63,273 |
) |
|
$ |
359,516 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2021 |
|
(Dollars in thousands) |
|
Amortized Cost |
|
|
Gross Unrealized Gains |
|
|
Gross Unrealized Losses |
|
|
Fair Value |
|
Available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal |
|
$ |
51,341 |
|
|
$ |
302 |
|
|
$ |
(530 |
) |
|
$ |
51,113 |
|
U.S. Treasury and agencies |
|
|
65,680 |
|
|
|
— |
|
|
|
(1,614 |
) |
|
|
64,066 |
|
Mortgage backed securities |
|
|
222,968 |
|
|
|
403 |
|
|
|
(4,261 |
) |
|
|
219,110 |
|
Corporate bonds |
|
|
38,752 |
|
|
|
808 |
|
|
|
(317 |
) |
|
|
39,243 |
|
Total investment securities |
|
$ |
378,741 |
|
|
$ |
1,513 |
|
|
$ |
(6,722 |
) |
|
$ |
373,532 |
|
|
Summary of Investments Classified by Contractual Maturity Date |
The following table presents the amortized cost and fair value of securities available for sale by contractual maturity as of the date stated. Expected maturities may differ from contractual maturities, as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
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|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
(Dollars in thousands) |
|
Amortized Cost |
|
|
Fair Value |
|
Due in one year or less |
|
$ |
9,545 |
|
|
$ |
9,477 |
|
Due after one year through five years |
|
|
43,330 |
|
|
|
38,851 |
|
Due after five years through ten years |
|
|
138,816 |
|
|
|
120,774 |
|
Due after ten years |
|
|
230,867 |
|
|
|
190,414 |
|
Total |
|
$ |
422,558 |
|
|
$ |
359,516 |
|
|
Summary of Unrealized Losses |
The following tables present a summary of unrealized losses and the length of time securities have been in a continuous loss position, by security type and number of securities, as of the dates stated.
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
Total |
|
(Dollars in thousands) |
|
Number of Securities |
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
State and municipal |
|
|
85 |
|
|
$ |
31,675 |
|
|
$ |
(5,226 |
) |
|
$ |
18,772 |
|
|
$ |
(4,372 |
) |
|
$ |
50,447 |
|
|
$ |
(9,598 |
) |
U.S. Treasury and agencies |
|
|
23 |
|
|
|
17,366 |
|
|
|
(3,018 |
) |
|
|
42,713 |
|
|
|
(8,938 |
) |
|
|
60,079 |
|
|
|
(11,956 |
) |
Mortgage backed securities |
|
|
85 |
|
|
|
56,101 |
|
|
|
(5,940 |
) |
|
|
142,728 |
|
|
|
(33,275 |
) |
|
|
198,829 |
|
|
|
(39,215 |
) |
Corporate bonds |
|
|
28 |
|
|
|
23,059 |
|
|
|
(1,998 |
) |
|
|
4,069 |
|
|
|
(506 |
) |
|
|
27,128 |
|
|
|
(2,504 |
) |
Total |
|
|
221 |
|
|
$ |
128,201 |
|
|
$ |
(16,182 |
) |
|
$ |
208,282 |
|
|
$ |
(47,091 |
) |
|
$ |
336,483 |
|
|
$ |
(63,273 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2021 |
|
|
|
|
|
|
Less than 12 Months |
|
|
12 Months or Greater |
|
|
Total |
|
(Dollars in thousands) |
|
Number of Securities |
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
|
Fair Value |
|
|
Unrealized Losses |
|
State and municipal |
|
|
38 |
|
|
$ |
27,905 |
|
|
$ |
(530 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
27,905 |
|
|
$ |
(530 |
) |
U.S. Treasury and agencies |
|
|
22 |
|
|
|
64,067 |
|
|
|
(1,614 |
) |
|
|
— |
|
|
|
— |
|
|
|
64,067 |
|
|
|
(1,614 |
) |
Mortgage backed securities |
|
|
54 |
|
|
|
186,924 |
|
|
|
(4,257 |
) |
|
|
543 |
|
|
|
(4 |
) |
|
|
187,467 |
|
|
|
(4,261 |
) |
Corporate bonds |
|
|
11 |
|
|
|
6,770 |
|
|
|
(313 |
) |
|
|
996 |
|
|
|
(4 |
) |
|
|
7,766 |
|
|
|
(317 |
) |
Total |
|
|
125 |
|
|
$ |
285,666 |
|
|
$ |
(6,714 |
) |
|
$ |
1,539 |
|
|
$ |
(8 |
) |
|
$ |
287,205 |
|
|
$ |
(6,722 |
) |
|