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Securities and Other Investments (Tables)
 6 Months Ended
Jun. 30, 2023
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.
June 30, 2023
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Securities AFS:
U.S. Treasury securities$142,197 $— $4,999 $137,198 
U.S. government agency securities8,807 29 44 8,792 
State, county and municipals401,293 263 32,718 368,838 
Mortgage-backed securities342,945 — 41,161 301,784 
Corporate debt securities115,277 — 10,781 104,496 
Total securities AFS$1,010,519 $292 $89,703 $921,108 
December 31, 2022
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Securities AFS:
U.S. Treasury securities$192,116 $— $8,286 $183,830 
U.S. government agency securities2,133 — 33 2,100 
State, county and municipals433,733 123 35,668 398,188 
Mortgage-backed securities227,650 10 26,728 200,932 
Corporate debt securities140,712 3 8,147 132,568 
Total securities AFS$996,344 $136 $78,862 $917,618 
Securities HTM:
U.S. Treasury securities$497,648 $— $35,722 $461,926 
U.S. government agency securities8,744 46 — 8,790 
State, county and municipals34,874 — 3,349 31,525 
Mortgage-backed securities137,862 — 16,751 121,111 
Total securities HTM$679,128 $46 $55,822 $623,352 
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.
June 30, 2023
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Securities AFS:
U.S. Treasury securities$142,197 $— $4,999 $137,198 
U.S. government agency securities8,807 29 44 8,792 
State, county and municipals401,293 263 32,718 368,838 
Mortgage-backed securities342,945 — 41,161 301,784 
Corporate debt securities115,277 — 10,781 104,496 
Total securities AFS$1,010,519 $292 $89,703 $921,108 
December 31, 2022
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Securities AFS:
U.S. Treasury securities$192,116 $— $8,286 $183,830 
U.S. government agency securities2,133 — 33 2,100 
State, county and municipals433,733 123 35,668 398,188 
Mortgage-backed securities227,650 10 26,728 200,932 
Corporate debt securities140,712 3 8,147 132,568 
Total securities AFS$996,344 $136 $78,862 $917,618 
Securities HTM:
U.S. Treasury securities$497,648 $— $35,722 $461,926 
U.S. government agency securities8,744 46 — 8,790 
State, county and municipals34,874 — 3,349 31,525 
Mortgage-backed securities137,862 — 16,751 121,111 
Total securities HTM$679,128 $46 $55,822 $623,352 
Schedule of Proceeds and Realized Gains or Losses from the Sale of AFS and HTM Securities
Proceeds and realized gains or losses from the sale of AFS and HTM securities were as follows.
Six Months Ended June 30,
(in thousands)20232022
Securities AFS:
Gross gains$148 $20 
Gross losses(496)(5)
Gains (losses) on sales of securities AFS, net
$(348)$15 
Proceeds from sales of securities AFS$26,798 $3,400 
Securities HTM:
Gross gains$— $— 
Gross losses(37,723)— 
Gains (losses) on sales of securities HTM, net$(37,723)$— 
Proceeds from sales of securities HTM$460,051 $— 
Schedule of Unrealized Losses and Fair Value of Investment Securities
The following table presents gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position.
June 30, 2023
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
Securities AFS:
U.S. Treasury securities$453 $14 $136,733 $4,985 $137,186 $4,999 7 
U.S. government agency securities1,771 38 106 6 1,877 44 8 
State, county and municipals89,871 2,286 244,861 30,432 334,732 32,718 661 
Mortgage-backed securities10,915 616 290,862 40,545 301,777 41,161 445 
Corporate debt securities33,133 1,231 66,984 9,550 100,117 10,781 70 
Total
$136,143 $4,185 $739,546 $85,518 $875,689 $89,703 1,191 
December 31, 2022
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
Securities AFS:
U.S. Treasury securities$448 $14 $183,382 $8,272 $183,830 $8,286 9 
U.S. government agency securities2,083 32 17 1 2,100 33 9 
State, county and municipals277,546 18,041 86,569 17,627 364,115 35,668 812 
Mortgage-backed securities102,108 11,320 95,614 15,408 197,722 26,728 376 
Corporate debt securities114,887 6,186 12,938 1,961 127,825 8,147 90 
Total
$497,072 $35,593 $378,520 $43,269 $875,592 $78,862 1,296 
Securities HTM:
U.S. Treasury securities$— $— $461,926 $35,722 $461,926 $35,722 6 
State, county and municipals17,591 1,594 11,654 1,755 29,245 3,349 58 
Mortgage-backed securities68,108 8,029 53,003 8,722 121,111 16,751 106 
Total
$85,699 $9,623 $526,583 $46,199 $612,282 $55,822 170 
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 June 30, 2023
Securities AFS
(in thousands)Amortized CostFair Value
Due in less than one year$172,412 $170,901 
Due in one year through five years163,610 151,145 
Due after five years through ten years209,473 185,108 
Due after ten years122,079 112,170 
667,574 619,324 
Mortgage-backed securities342,945 301,784 
Total investment securities$1,010,519 $921,108 
Summary of Other Investments The carrying value of other investments are summarized as follows.
June 30, 2023December 31, 2022
(in thousands)AmountAmount
Federal Reserve Bank stock
$32,411 $32,219 
Federal Home Loan Bank (“FHLB”) stock
9,674 18,625 
Equity securities with readily determinable fair values3,748 4,376 
Other investments11,745 10,066 
Total other investments$57,578 $65,286