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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2023
Investment Securities [Abstract]  
Amortized Cost, Unrealized Gains and Losses, Estimated Fair Values and Related Allowance for Credit Losses on Investments in Debt and Other Securities
The amortized cost, unrealized gains and losses, estimated fair values and related allowance for credit losses  on investments in debt and other securities at December 31, 2023 are summarized as follows:

 
Amortized
cost
    
Unrealized
gains
    
Unrealized
losses
    
Estimated
fair value
     ACL
  
Investment securities available-for-sale:
                              
U.S. Treasury securities
  
$
90,063
    
$
134
    
$
(3,015
)
  
$
87,182
     $
 —  
Securities of U.S. government agencies and corporations
    
121,305
      
105
      
(6,331
)
    
115,079
       —  
Obligations of states and political subdivisions
    
55,021
      
237
      
(3,581
)
    
51,677
       —  
Collateralized mortgage obligations
    
107,658
      
15
      
(16,726
)
    
90,947
       —  
Mortgage-backed securities
    
246,267
      
242
      
(19,037
)
    
227,472
       —  
                                     
 
Total debt securities
  
$
620,314
    
$
733
    
$
(48,690
)
  
$
572,357
     $
 —  

The amortized cost, unrealized gains and losses and estimated fair values of investments in debt and other securities at December 31, 2022 are summarized as follows:

 
Amortized
cost
    
Unrealized
gains
    
Unrealized
losses
    
Estimated
fair value
  
Investment securities available-for-sale:
                        
U.S. Treasury securities
  
$
119,644
    
$
13
    
$
(5,842
)
  
$
113,815
  
Securities of U.S. government agencies and corporations
    
128,697
      
20
      
(9,806
)
    
118,911
  
Obligations of states and political subdivisions
    
58,955
      
13
      
(5,642
)
    
53,326
  
Collateralized mortgage obligations
    
114,983
      
—
      
(19,633
)
    
95,350
  
Mortgage-backed securities
    
261,505
      
56
      
(24,871
)
    
236,690
  
                                 
Total debt securities
  
$
683,784
    
$
102
    
$
(65,794
)
  
$
618,092
  
Amortized Cost and Estimated Fair Value of Debt and Other Securities by Contractual Maturity
The amortized cost and estimated fair value of debt and other securities at December 31, 2023, by contractual maturity, are shown in the following table:

 
Amortized
cost
    
Estimated
fair value
  
             
Maturity in years:
            
Due in one year or less
  
$
78,883
    
$
77,408
  
Due after one year through five years
    
131,352
      
124,600
  
Due after five years through ten years
    
29,523
      
27,427
  
Due after ten years
    
26,631
      
24,503
  
Subtotal
    
266,389
      
253,938
  
Mortgage-backed securities and Collateralized mortgage obligations
    
353,925
      
318,419
  
Total
  
$
620,314
    
$
572,357
  
Analysis of Gross Unrealized Losses of the Available-for-sale Investment Securities Portfolio
An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of December 31, 2023, follows:

 
Less than 12 months
    
12 months or more
    
Total
  
   
Fair Value
    
Unrealized
losses
    
Fair Value
    
Unrealized
losses
    
Fair Value
    
Unrealized
losses
  
U.S. Treasury securities
  
$
—
    
$
—
    
$
77,203
    
$
(3,015
)
  
$
77,203
    
$
(3,015
)
Securities of U.S. government agencies and corporations
    
3,424
      
(7
)
    
97,057
      
(6,324
)
    
100,481
      
(6,331
)
Obligations of states and political subdivisions
    
4,981
      
(31
)
    
32,578
      
(3,550
)
    
37,559
      
(3,581
)
Collateralized mortgage obligations
    
6,597
      
(26
)
    
80,995
      
(16,700
)
    
87,592
      
(16,726
)
Mortgage-backed securities
    
17,023
      
(124
)
    
182,626
      
(18,913
)
    
199,649
      
(19,037
)
                                                 
Total
  
$
32,025
    
$
(188
)
  
$
470,459
    
$
(48,502
)
  
$
502,484
    
$
(48,690
)

An analysis of gross unrealized losses of the available-for-sale investment securities portfolio as of December 31, 2022, follows:


  
Less than 12 months
    
12 months or more
    
Total
  
   
Fair Value
    
Unrealized
losses
    
Fair Value
    
Unrealized
losses
    
Fair Value
    
Unrealized
losses
  
U.S. Treasury Securities
  
$
54,574
    
$
(1,680
)
  
$
56,872
    
$
(4,162
)
  
$
111,446
    
$
(5,842
)
Securities of U.S. government agencies and corporation
    
45,261
      
(1,341
)
    
69,635
      
(8,465
)
    
114,896
      
(9,806
)
Obligations of states and political subdivision
    
40,479
      
(3,022
)
    
10,049
      
(2,620
)
    
50,528
      
(5,642
)
Collateralized mortgage obligations
    
36,040
      
(2,586
)
    
59,310
      
(17,047
)
    
95,350
      
(19,633
)
Mortgage-backed securities
    
99,250
      
(6,131
)
    
131,951
      
(18,740
)
    
231,201
      
(24,871
)
                                                 
Total
  
$
275,604
    
$
(14,760
)
  
$
327,817
    
$
(51,034
)
  
$
603,421
    
$
(65,794
)