Note 6 - Securities (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Notes Tables |
|
| Debt Securities, Available-for-Sale [Table Text Block] |
| |
|
(Dollars in thousands) |
|
| |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
Estimated |
|
| |
|
Cost |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Basis |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
| September 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. government sponsored entities |
|
$ |
8,883 |
|
|
$ |
- |
|
|
$ |
(1,333 |
) |
|
|
7,550 |
|
| U.S. treasury securities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
|
152,118 |
|
|
|
- |
|
|
|
(33,022 |
) |
|
|
119,096 |
|
| Municipal securities |
|
|
279,837 |
|
|
|
- |
|
|
|
(68,358 |
) |
|
|
211,479 |
|
| Collateralized debt obligations |
|
|
2,173 |
|
|
|
- |
|
|
|
(1,018 |
) |
|
|
1,155 |
|
| Total securities available-for-sale |
|
$ |
443,011 |
|
|
$ |
- |
|
|
$ |
(103,731 |
) |
|
$ |
339,280 |
|
| |
|
(Dollars in thousands) |
|
| |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
Estimated |
|
| |
|
Cost |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Basis |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. government sponsored entities |
|
$ |
8,883 |
|
|
$ |
- |
|
|
$ |
(1,258 |
) |
|
$ |
7,625 |
|
| U.S. treasury securities |
|
|
389 |
|
|
|
- |
|
|
|
- |
|
|
|
389 |
|
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
|
163,000 |
|
|
|
- |
|
|
|
(28,884 |
) |
|
|
134,116 |
|
| Municipal securities |
|
|
281,032 |
|
|
|
7 |
|
|
|
(53,321 |
) |
|
|
227,718 |
|
| Collateralized debt obligations |
|
|
2,173 |
|
|
|
- |
|
|
|
(1,125 |
) |
|
|
1,048 |
|
| Total securities available-for-sale |
|
$ |
455,477 |
|
|
$ |
7 |
|
|
$ |
(84,588 |
) |
|
$ |
370,896 |
|
|
| Investments Classified by Contractual Maturity Date [Table Text Block] |
| |
|
(Dollars in thousands) |
|
| |
|
Available-for-sale |
|
| |
|
|
|
|
|
Estimated |
|
| |
|
Cost |
|
|
Fair |
|
| September 30, 2023 |
|
Basis |
|
|
Value |
|
| Due in one year or less |
|
$ |
690 |
|
|
$ |
688 |
|
| Due from one to five years |
|
|
10,293 |
|
|
|
8,853 |
|
| Due from five to ten years |
|
|
21,761 |
|
|
|
19,048 |
|
| Due over ten years |
|
|
258,149 |
|
|
|
191,595 |
|
| |
|
|
|
|
|
|
|
|
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
|
152,118 |
|
|
|
119,096 |
|
| Total |
|
$ |
443,011 |
|
|
$ |
339,280 |
|
|
| Schedule of Realized Gain (Loss) [Table Text Block] |
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
|
|
| Proceeds |
|
$ |
124 |
|
|
$ |
10,178 |
|
| Gross gains |
|
|
- |
|
|
|
41 |
|
| Gross losses |
|
|
- |
|
|
|
(18 |
) |
| |
|
(Dollars in thousands) |
|
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
|
|
| Proceeds |
|
$ |
476 |
|
|
$ |
53,953 |
|
| Gross gains |
|
|
- |
|
|
|
733 |
|
| Gross losses |
|
|
(48 |
) |
|
|
(71 |
) |
|
| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
| |
|
(Dollars in thousands) |
|
| |
|
Unrealized
gain/(loss) |
|
| Ending balance, June 30, 2022 |
|
$ |
(57,781 |
) |
| Current period change |
|
|
(22,058 |
) |
| Ending balance, September 30, 2022 |
|
$ |
(79,839 |
) |
| |
|
(Dollars in thousands) |
|
| |
|
Unrealized
gain/(loss) |
|
| Ending balance, June 30, 2023 |
|
$ |
(60,185 |
) |
| Current period change |
|
|
(18,663 |
) |
| Ending balance, September 30, 2023 |
|
$ |
(78,848 |
) |
| |
|
(Dollars in thousands) |
|
| |
|
Unrealized
gain/(loss) |
|
| Ending balance, December 31, 2021 |
|
$ |
4,276 |
|
| Current period change |
|
|
(84,115 |
) |
| Ending balance, September 30, 2022 |
|
$ |
(79,839 |
) |
| |
|
(Dollars in thousands) |
|
| |
|
Unrealized
gain/(loss) |
|
| Ending balance, December 31, 2022 |
|
$ |
(64,300 |
) |
| Current period change |
|
|
(14,548 |
) |
| Ending balance, September 30, 2023 |
|
$ |
(78,848 |
) |
|
| Unrealized Gain (Loss) on Investments [Table Text Block] |
| |
|
(Dollars in thousands) |
|
|
|
|
|
| |
|
Less than 12 months |
|
|
12 months or longer |
|
|
Total |
|
|
|
|
|
| |
|
Estimated |
|
|
|
|
|
|
Estimated |
|
|
|
|
|
|
Estimated |
|
|
|
|
|
|
Percentage of |
|
| |
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Total Portfolio |
|
| |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
in Loss Position |
|
| September 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. government sponsored entities |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,550 |
|
|
$ |
(1,333 |
) |
|
$ |
7,550 |
|
|
$ |
(1,333 |
) |
|
|
100.0 |
% |
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
|
- |
|
|
|
- |
|
|
|
119,096 |
|
|
|
(33,022 |
) |
|
|
119,096 |
|
|
|
(33,022 |
) |
|
|
100.0 |
% |
| Municipal securities |
|
|
12,529 |
|
|
|
(1,185 |
) |
|
|
198,950 |
|
|
|
(67,173 |
) |
|
|
211,479 |
|
|
|
(68,358 |
) |
|
|
100.0 |
% |
| Collateralized debt obligations |
|
|
- |
|
|
|
- |
|
|
|
1,155 |
|
|
|
(1,018 |
) |
|
|
1,155 |
|
|
|
(1,018 |
) |
|
|
100.0 |
% |
| Total temporarily impaired |
|
$ |
12,529 |
|
|
$ |
(1,185 |
) |
|
$ |
326,751 |
|
|
$ |
(102,546 |
) |
|
$ |
339,280 |
|
|
$ |
(103,731 |
) |
|
|
100.0 |
% |
| Number of securities |
|
|
|
|
|
|
20 |
|
|
|
|
|
|
|
425 |
|
|
|
|
|
|
|
445 |
|
|
|
|
|
| |
|
(Dollars in thousands) |
|
|
|
|
|
| |
|
Less than 12 months |
|
|
12 months or longer |
|
|
Total |
|
|
|
|
|
| |
|
Estimated |
|
|
|
|
|
|
Estimated |
|
|
|
|
|
|
Estimated |
|
|
|
|
|
|
Percentage of |
|
| |
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Total Portfolio |
|
| |
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
in Loss Position |
|
| December 31, 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. government sponsored entities |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,625 |
|
|
$ |
(1,258 |
) |
|
$ |
7,625 |
|
|
$ |
(1,258 |
) |
|
|
100.0 |
% |
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
|
32,700 |
|
|
|
(4,955 |
) |
|
|
101,416 |
|
|
|
(23,929 |
) |
|
|
134,116 |
|
|
|
(28,884 |
) |
|
|
100.0 |
% |
| Municipal securities |
|
|
171,581 |
|
|
|
(35,935 |
) |
|
|
52,961 |
|
|
|
(17,386 |
) |
|
|
224,542 |
|
|
|
(53,321 |
) |
|
|
98.6 |
% |
| Collateralized debt obligations |
|
|
- |
|
|
|
- |
|
|
|
1,048 |
|
|
|
(1,125 |
) |
|
|
1,048 |
|
|
|
(1,125 |
) |
|
|
100.0 |
% |
| Total temporarily impaired |
|
$ |
204,281 |
|
|
$ |
(40,890 |
) |
|
$ |
163,050 |
|
|
$ |
(43,698 |
) |
|
$ |
367,331 |
|
|
$ |
(84,588 |
) |
|
|
99.0 |
% |
| Number of securities |
|
|
|
|
|
|
311 |
|
|
|
|
|
|
|
135 |
|
|
|
|
|
|
|
446 |
|
|
|
|
|
|