Investment Securities (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
Investments, Debt and Equity Securities [Abstract] |
|
Schedule of Investment Available-For-Sale |
The amortized cost and estimated
fair values of investment securities are summarized below:
AVAILABLE-FOR-SALE:
Schedule of Investment Available-For-Sale
|
Investment Securities |
| |
| | |
Gross | | |
Gross | | |
| |
| |
Amortized | | |
Unrealized | | |
Unrealized | | |
| |
(Dollars in thousands) | |
Cost | | |
Gains | | |
Losses | | |
Fair Value | |
September 30, 2022 | |
| | | |
| | | |
| | | |
| | |
US Treasury securities | |
$ | 60,502 | | |
$ | — | | |
$ | (4,779 | ) | |
$ | 55,723 | |
Small Business Administration pools | |
| 22,950 | | |
| 56 | | |
| (727 | ) | |
| 22,279 | |
State and local government | |
| | | |
| — | | |
| — | | |
| — | |
Corporate and other securities | |
| 8,773 | | |
| — | | |
| (632 | ) | |
| 8,143 | |
Total | |
$ | 364,334 | | |
$ | 69 | | |
$ | (26,056 | ) | |
$ | 338,350 | |
| |
| | | |
| | | |
| | | |
| | |
| |
| | |
Gross | | |
Gross | | |
| |
| |
Amortized | | |
Unrealized | | |
Unrealized | | |
| |
(Dollars in thousands) | |
Cost | | |
Gains | | |
Losses | | |
Fair Value | |
December 31, 2021 | |
| | | |
| | | |
| | | |
| | |
US Treasury securities | |
$ | 15,736 | | |
$ | — | | |
$ | 300 | | |
$ | 15,436 | |
Small Business Administration pools | |
| 30,835 | | |
| 505 | | |
| 67 | | |
| 31,273 | |
State and local government | |
| 105,469 | | |
| 4,918 | | |
| 539 | | |
| 109,848 | |
Corporate and other securities | |
| 8,024 | | |
| 157 | | |
| 129 | | |
| 8,052 | |
Total | |
$ | 560,688 | | |
$ | 9,178 | | |
$ | 5,027 | | |
$ | 564,839 | |
|
Schedule of Held to Maturity |
HELD-TO-MATURITY:
Schedule of Held to Maturity
|
Investment Securities (Details 2) |
| |
| | |
Gross | | |
Gross | | |
| |
| |
Amortized | | |
Unrealized | | |
Unrealized | | |
| |
(Dollars in thousands) | |
Cost | | |
Gains | | |
Losses | | |
Fair Value | |
September 30, 2022 | |
| | | |
| | | |
| | | |
| | |
US Treasury securities | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
Small Business Administration pools | |
| — | | |
| — | | |
| — | | |
| — | |
State and local government | |
| 106,936 | | |
| — | | |
| (7,691 | ) | |
| 99,245 | |
Corporate and other securities | |
| — | | |
| — | | |
| — | | |
| — | |
Total | |
$ | 233,301 | | |
$ | — | | |
$ | (16,354 | ) | |
$ | 216,947 | |
|
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position |
The following tables show gross unrealized
losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous
loss position, at September 30, 2022 and December 31, 2021.
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position
|
Investment Securities (Details 3) |
| |
| | |
| | |
| | |
| | |
| | |
| |
(Dollars in thousands) | |
Less than 12 months | | |
12 months or more | | |
Total | |
September 30, 2022 | |
Fair | | |
Unrealized | | |
Fair | | |
Unrealized | | |
Fair | | |
Unrealized | |
Available-for-sale securities: | |
Value | | |
Loss | | |
Value | | |
Loss | | |
Value | | |
Loss | |
| |
| | |
| | |
| | |
| | |
| | |
| |
US Treasury Securities | |
$ | 42,805 | | |
$ | 1,940 | | |
$ | 12,919 | | |
$ | 2,839 | | |
$ | 55,724 | | |
$ | 4,779 | |
Small Business Administration pools | |
| 16,139 | | |
| 649 | | |
| 3,053 | | |
| 77 | | |
| 19,192 | | |
| 726 | |
State and local government | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Corporate and other securities | |
| 2,189 | | |
| 93 | | |
| 3,211 | | |
| 539 | | |
| 5,400 | | |
| 632 | |
Total | |
$ | 167,465 | | |
$ | 9,609 | | |
$ | 163,255 | | |
$ | 16,447 | | |
$ | 330,720 | | |
$ | 26,056 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
(Dollars in thousands) | |
Less than 12 months | | |
12 months or more | | |
Total | |
December 31, 2021 | |
Fair | | |
Unrealized | | |
Fair | | |
Unrealized | | |
Fair | | |
Unrealized | |
Available-for-sale securities: | |
Value | | |
Loss | | |
Value | | |
Loss | | |
Value | | |
Loss | |
| |
| | |
| | |
| | |
| | |
| | |
| |
US Treasury Securities | |
$ | 14,479 | | |
$ | 264 | | |
$ | 958 | | |
$ | 36 | | |
$ | 15,437 | | |
$ | 300 | |
State and local government | |
| 21,261 | | |
| 539 | | |
| — | | |
| — | | |
| 21,261 | | |
| 539 | |
Corporate and other securities | |
| 3,621 | | |
| 129 | | |
| — | | |
| — | | |
| 3,621 | | |
| 129 | |
Total | |
$ | 246,831 | | |
$ | 4,155 | | |
$ | 49,528 | | |
$ | 872 | | |
$ | 296,359 | | |
$ | 5,027 | |
|
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual held to maturity have been in a continuous loss position |
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that
individual held to maturity have been in a continuous loss position
|
Investment Securities (Details 4) |
|
|
|
|
|
|
| | |
|
|
|
|
|
| | |
|
|
|
|
|
| | |
(Dollars in thousands) | |
Less than 12 months | | |
12 months or more | | |
Total | |
September 30, 2022 | |
Fair | | |
Unrealized | | |
Fair | | |
Unrealized | | |
Fair | | |
Unrealized | |
Held-to-maturity securities: | |
Value | | |
Loss | | |
Value | | |
Loss | | |
Value | | |
Loss | |
| |
| | |
| | |
| | |
| | |
| | |
| |
US Treasury Securities | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
Small Business Administration pools | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
State and local government | |
| 95,701 | | |
| 7,200 | | |
| 3,544 | | |
| 491 | | |
| 99,245 | | |
| 7,691 | |
Corporate and other securities | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
Total | |
$ | 203,383 | | |
$ | 14,919 | | |
$ | 13,563 | | |
$ | 1,435 | | |
$ | 216,946 | | |
$ | 16,354 | |
|
Schedule of Amortized Cost and Fair Value of Investment Securities |
The following sets forth the amortized
cost and fair value of investment securities at September 30, 2022 by contractual maturity. Expected maturities differ from contractual
maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. MBSs are
based on average life at estimated prepayment speeds.
Schedule of Amortized
Cost and Fair Value of Investment Securities
|
Investment Securities (Details 5) |
| |
Available-for-sale | |
September 30, 2022 | |
Amortized | | |
Fair | |
(Dollars in thousands) | |
Cost | | |
Value | |
Due in one year or less | |
$ | 3,846 | | |
$ | 3,838 | |
Due after one year through five years | |
| 165,838 | | |
| 157,528 | |
Due after five years through ten years | |
| 170,365 | | |
| 155,694 | |
Due after ten years | |
| 24,285 | | |
| 21,290 | |
Total | |
$ | 364,334 | | |
$ | 338,350 | |
| |
| | | |
| | |
| |
Held-to-maturity | |
September 30, 2022 | |
Amortized | | |
Fair | |
(Dollars in thousands) | |
Cost | | |
Value | |
Due in one year or less | |
$ | 8,683 | | |
$ | 8,617 | |
Due after one year through five years | |
| 48,765 | | |
| 46,457 | |
Due after five years through ten years | |
| 137,408 | | |
| 127,399 | |
Due after ten years | |
| 38,445 | | |
| 34,474 | |
Total | |
$ | 233,301 | | |
$ | 216,947 | |
|