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Held to Maturity Debt Securities (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Held to Maturity
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the estimated fair value for held to maturity debt securities at December 31, 2022 and 2021 (in thousands):
 2022
 
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
value
Agency obligations$9,997 — (1,033)8,964 
State and municipal obligations366,164 268 (13,015)353,417 
Corporate obligations11,789 1 (703)11,087 
$387,950 269 (14,751)373,468 
 2021
 
Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
value
Agency obligations$9,996 — (175)9,821 
Mortgage-backed securities21 — — 21 
State and municipal obligations415,724 14,463 (635)429,552 
Corporate obligations10,448 19 (152)10,315 
$436,189 14,482 (962)449,709 
Investments Classified by Contractual Maturity Date
The amortized cost and fair value of held to maturity debt securities at December 31, 2022 by contractual maturity are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
 2022
 
Amortized
cost
Fair
value
Due in one year or less$20,280 20,188 
Due after one year through five years153,915 151,104 
Due after five years through ten years173,389 168,040 
Due after ten years40,366 34,136 
$387,950 373,468 
The amortized cost and fair value of available for sale debt securities at December 31, 2022, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
 2022
 
Amortized
cost
Fair
value
Due in one year or less$— — 
Due after one year through five years194,949 176,459 
Due after five years through ten years125,582 109,597 
Due after ten years63,335 52,732 
$383,866 338,788 
Amortized Cost of held To Maturity Debt Securities by Year of Originations and Credit Rating The following table provides the amortized cost of held to maturity debt securities by credit rating as of December 31, 2022 (in thousands):
December 31, 2022
Total PortfolioAAAAAABBBNot RatedTotal
Agency obligations$9,997 — — — — 9,997 
State and municipal obligations48,453 171,934 143,829 770 1,178 366,164 
Corporate obligations507 3,592 7,415 — 275 11,789 
$58,957 175,526 151,244 770 1,453 387,950 
December 31, 2021
Total PortfolioAAAAAABBBNot RatedTotal
Agency obligations$9,996 — — — — 9,996 
Mortgage-backed securities21 — — — — 21 
State and municipal obligations54,583 314,396 44,392 945 1,408 415,724 
Corporate obligations510 2,634 7,279 — 25 10,448 
$65,110 317,030 51,671 945 1,433 436,189