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Securities and Other Investments (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair value of securities AFS
The amortized cost and fair value of securities AFS and HTM are summarized as follows.
March 31, 2022
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair ValueFair Value as % of Total
Securities AFS:
U.S. government agency securities$192,442 $— $6,119 $186,323 22 %
State, county and municipals305,034 135 16,461 288,708 34 %
Mortgage-backed securities255,866 215 12,477 243,604 28 %
Corporate debt securities134,703 1,207 2,214 133,696 16 %
Total securities AFS$888,045 $1,557 $37,271 $852,331 100 %
Securities HTM:
U.S. government agency securities$508,373 $— $23,648 $484,725 74 %
State, county and municipals44,790 5 1,592 43,203 7 %
Mortgage-backed securities131,828 — 7,700 124,128 19 %
Total securities HTM$684,991 $5 $32,940 $652,056 100 %
December 31, 2021
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair ValueFair Value as % of Total
Securities AFS:
U.S. government agency securities$192,506 $6 $1,235 $191,277 21 %
State, county and municipals311,717 3,222 2,202 312,737 34 %
Mortgage-backed securities270,017 3,090 1,845 271,262 29 %
Corporate debt securities143,172 3,459 246 146,385 16 %
Total securities AFS$917,412 $9,777 $5,528 $921,661 100 %
Securities HTM:
U.S. government agency securities$508,810 $— $2,740 $506,070 78 %
State, county and municipals42,876 10 173 42,713 7 %
Mortgage-backed securities100,117 89 595 99,611 15 %
Total securities HTM$651,803 $99 $3,508 $648,394 100 %
Schedule of amortized cost and fair value of securities HTM
The amortized cost and fair value of securities AFS and HTM are summarized as follows.
March 31, 2022
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair ValueFair Value as % of Total
Securities AFS:
U.S. government agency securities$192,442 $— $6,119 $186,323 22 %
State, county and municipals305,034 135 16,461 288,708 34 %
Mortgage-backed securities255,866 215 12,477 243,604 28 %
Corporate debt securities134,703 1,207 2,214 133,696 16 %
Total securities AFS$888,045 $1,557 $37,271 $852,331 100 %
Securities HTM:
U.S. government agency securities$508,373 $— $23,648 $484,725 74 %
State, county and municipals44,790 5 1,592 43,203 7 %
Mortgage-backed securities131,828 — 7,700 124,128 19 %
Total securities HTM$684,991 $5 $32,940 $652,056 100 %
December 31, 2021
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair ValueFair Value as % of Total
Securities AFS:
U.S. government agency securities$192,506 $6 $1,235 $191,277 21 %
State, county and municipals311,717 3,222 2,202 312,737 34 %
Mortgage-backed securities270,017 3,090 1,845 271,262 29 %
Corporate debt securities143,172 3,459 246 146,385 16 %
Total securities AFS$917,412 $9,777 $5,528 $921,661 100 %
Securities HTM:
U.S. government agency securities$508,810 $— $2,740 $506,070 78 %
State, county and municipals42,876 10 173 42,713 7 %
Mortgage-backed securities100,117 89 595 99,611 15 %
Total securities HTM$651,803 $99 $3,508 $648,394 100 %
Schedule of unrealized losses and fair value of investment securities
The following table presents gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position.
March 31, 2022
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
Securities AFS:
U.S. government agency securities$185,822 $6,119 $— $— $185,822 $6,119 13 
State, county and municipals232,438 13,340 27,417 3,121 259,855 16,461 389 
Mortgage-backed securities194,557 10,075 21,469 2,402 216,026 12,477 336 
Corporate debt securities66,907 2,214 — — 66,907 2,214 43 
Total
$679,724 $31,748 $48,886 $5,523 $728,610 $37,271 781 
Securities HTM:
U.S. government agency securities$484,577 $23,648 $— $— $484,577 $23,648 9 
State, county and municipals37,514 1,592 — — 37,514 1,592 54 
Mortgage-backed securities124,128 7,700 — — 124,128 7,700 104 
Total
$646,219 $32,940 $— $— $646,219 $32,940 167 
December 31, 2021
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
Securities AFS:
U.S. government agency securities$190,432 $1,235 $— $— $190,432 $1,235 11 
State, county and municipals103,950 2,119 1,777 83 105,727 2,202 132 
Mortgage-backed securities137,561 1,616 6,068 229 143,629 1,845 159 
Corporate debt securities23,267 246 — — 23,267 246 13 
Total
$455,210 $5,216 $7,845 $312 $463,055 $5,528 315 
Securities HTM:
U.S. government agency securities$505,938 $2,740 $— $— $505,938 $2,740 9 
State, county and municipals30,898 173 — — 30,898 173 46 
Mortgage-backed securities69,333 595 — — 69,333 595 72 
Total
$606,169 $3,508 $— $— $606,169 $3,508 127 
Schedule of amortized cost and fair value of investment securities by contractual maturity
The amortized cost and fair value of investment securities by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; as this is particularly inherent in mortgage-backed securities, these securities are not included in the maturity categories below.
As of March 31, 2022
Securities AFSSecurities HTM
(in thousands)Amortized CostFair ValueAmortized CostFair Value
Due in less than one year$37,717 $37,852 $6,197 $6,184 
Due in one year through five years319,726 313,302 503,946 480,140 
Due after five years through ten years192,077 180,523 33,963 32,665 
Due after ten years82,659 77,050 9,057 8,939 
632,179 608,727 553,163 527,928 
Mortgage-backed securities255,866 243,604 131,828 124,128 
Total investment securities$888,045 $852,331 $684,991 $652,056 
Schedule of proceeds and realized gains or losses from the sale of AFS securities
Proceeds and realized gains or losses from the sale of AFS securities were as follows.
Three Months Ended March 31,
(in thousands)20222021
Gross gains$20 $— 
Gross losses(5)— 
Gains (losses) on sales of securities AFS, net
$15 $— 
Proceeds from sales of securities AFS$3,400 $— 
Summary of other investments The carrying value of other investments are summarized as follows.
March 31, 2022December 31, 2021
(in thousands)AmountAmount
Federal Reserve Bank stock
$29,020 $20,973 
Federal Home Loan Bank (“FHLB”) stock
9,771 10,545 
Equity securities with readily determinable fair values6,081 5,660 
Other investments9,385 6,830 
Total other investments$54,257 $44,008