NOTE 2 - INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost*		Gains		(Losses)		Value
	(dollars in thousands)
September 30, 2021:
Securities HTM:
Municipal securities	$	483,127	$	47,122	$	(20)	$	530,229
Other securities		1,050		—		—		1,050
	$	484,177	$	47,122	$	(20)	$	531,279
Securities AFS:
U.S. treasuries and govt. sponsored agency securities	$	23,616	$	413	$	(340)	$	23,689
Residential mortgage-backed and related securities		97,762		3,627		(645)		100,744
Municipal securities		162,964		4,124		(729)		166,359
Asset-backed securities		29,622		985		—		30,607
Other securities		23,048		299		(30)		23,317
	$	337,012	$	9,448	$	(1,744)	$	344,716

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
	(dollars in thousands)
December 31, 2020:
Securities HTM:
Municipal securities	$	475,115	$	45,360	$	(248)	$	520,227
Other securities		1,050		—		—		1,050
	$	476,165	$	45,360	$	(248)	$	521,277
Securities AFS:
U.S. govt. sponsored agency securities	$	14,936	$	447	$	(47)	$	15,336
Residential mortgage-backed and related securities		127,670		5,510		(338)		132,842
Municipal securities		147,241		5,215		(48)		152,408
Asset-backed securities		39,663		1,111		(91)		40,683
Other securities		20,550		147		—		20,697
	$	350,060	$	12,430	$	(524)	$	361,966

Securities have been in a continuous unrealized loss position

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
September 30, 2021:
Securities HTM:
Municipal securities	$	14,880	$	(20)	$	—	$	—	$	14,880	$	(20)
Securities AFS:
U.S. treasuries and govt. sponsored agency securities	$	9,809	$	(148)	$	3,001	$	(192)	$	12,810	$	(340)
Residential mortgage-backed and related securities		18,422		(593)		8,629		(52)		27,051		(645)
Municipal securities		50,754		(689)		966		(40)		51,720		(729)
Other securities		3,970		(30)		—		—		3,970		(30)
	$	82,955	$	(1,460)	$	12,596	$	(284)	$	95,551	$	(1,744)

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
December 31, 2020:
Securities HTM:
Municipal securities	$	8,407	$	(248)	$	—	$	—	$	8,407	$	(248)
Securities AFS:
U.S. govt. sponsored agency securities	$	3,199	$	(47)	$	—	$	—	$	3,199	$	(47)
Residential mortgage-backed and related securities		37,549		(338)		—		—		37,549		(338)
Municipal securities		10,110		(48)		—		—		10,110		(48)
Asset-backed securities		6,884		(52)		9,945		(39)		16,829		(91)
	$	57,742	$	(485)	$	9,945	$	(39)	$	67,687	$	(524)

Activity in allowance for credit losses

	Three Months Ended September 30, 2021						Nine Months Ended September 30, 2021
	Municipal		Other				Municipal		Other
	securities		securities		Total		securities		securities		Total
Allowance for credit losses:
Beginning balance	$	173	$	1	$	174	$	—	$	—	$	—
Impact of adopting ASU 2016-13		—		—		—		182		1		183
Provision for credit loss expense		—		—		—		(9)		—		(9)
Balance, ending	$	173	$	1	$	174	$	173	$	1	$	174

Realized gain (loss) on investments

	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
		(dollars in thousands)
Proceeds from sales of securities	$	—	$	22,252	$	23,874	$	28,579
Gross gains from sales of securities		—		1,802		—		1,936
Gross losses from sales of securities		—		—		(88)		(69)

Investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	3,171	$	3,188
Due after one year through five years		26,563		27,189
Due after five years		454,443		500,902
	$	484,177	$	531,279
Securities AFS:
Due in one year or less	$	1,280	$	1,295
Due after one year through five years		12,409		12,694
Due after five years		195,939		199,376
		209,628		213,365
Residential mortgage-backed and related securities		97,762		100,744
Asset-backed securities		29,622		30,607
	$	337,012	$	344,716

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	285,608	$	297,413
Securities AFS:
Municipal securities		157,961		161,122
Other securities		23,048		23,317
	$	181,009	$	184,439