Securities (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Debt Securities, Available-for-Sale

The carrying amount of AFS securities and their approximate fair values at March 31, 2023, and December 31, 2022, are summarized as follows (in thousands):

	March 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	197,875	$	—	$	19,456	$	178,419
Obligations of states and municipalities	547,896		44		79,578		468,362
Residential mortgage backed - agency	56,991		20		4,341		52,670
Residential mortgage backed - non-agency	349,123		12		27,985		321,150
Commercial mortgage backed - agency	59,409		58		1,635		57,832
Commercial mortgage backed - non-agency	190,542		97		7,414		183,225
Asset-backed	95,317		101		2,819		92,599
Other	9,500		—		972		8,528
	$	1,506,653	$	332	$	144,200	$	1,362,785

	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	198,154	$	—	$	23,161	$	174,993
Obligations of states and municipalities	550,590		12		96,695		453,907
Residential mortgage backed - agency	57,883		14		4,836		53,061
Residential mortgage backed - non-agency	365,983		2		26,690		339,295
Commercial mortgage backed - agency	61,810		75		1,952		59,933
Commercial mortgage backed - non-agency	191,709		10		8,420		183,299
Asset-backed	101,791		49		3,214		98,626
Other	9,500		—		857		8,643
	$	1,537,420	$	162	$	165,825	$	1,371,757

Expected maturities may differ from

contractual maturities because borrowers have the right to call or prepay some obligations with or without call or prepayment penalties).

	March 31, 2023
	Amortized Cost
	One Year or Less		One to Five Years		Five to Ten Years		After Ten Years		Total
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	59,546	$	138,329	$	—	$	197,875
Obligations of states and municipalities	370		10,947		332,562		204,017		547,896
Residential mortgage backed - agency	42		33,446		23,503		—		56,991
Residential mortgage backed - non-agency	32,336		209,368		92,763		14,656		349,123
Commercial mortgage backed - agency	233		52,796		6,380		—		59,409
Commercial mortgage backed - non-agency	32,882		152,507		5,153		—		190,542
Asset-backed	2,296		51,621		41,400		—		95,317
Other	—		—		9,500		—		9,500
	$	68,159	$	570,231	$	649,590	$	218,673	$	1,506,653

	March 31, 2023
	Fair Value
	One Year or Less		One to Five Years		Five to Ten Years		After Ten Years		Total
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	55,500	$	122,919	$	—	$	178,419
Obligations of states and municipalities	370		10,204		296,965		160,823		468,362
Residential mortgage backed - agency	42		32,561		20,067		—		52,670
Residential mortgage backed - non-agency	31,027		198,301		78,487		13,335		321,150
Commercial mortgage backed - agency	232		51,524		6,076		—		57,832
Commercial mortgage backed - non-agency	32,283		146,728		4,214		—		183,225
Asset-backed	2,238		49,966		40,395		—		92,599
Other	—				8,528		—		8,528
	$	66,192	$	544,784	$	577,651	$	174,158	$	1,362,785

Schedule of Realized Gain (Loss)

The gross realized gains, realized losses, and proceeds from the sales of securities for the three months ended March 31, 2023, and March 31, 2022, were as follows (in thousands):

	March 31, 2023		March 31, 2022
Gross realized gains	$	—	$	727
Gross realized losses	—		(623)
Proceeds from sales of securities	—		87,033

Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

AFS securities in a continuous unrealized loss position for less than twelve months and more than twelve months are as follows (in thousands):

	March 31, 2023
	Less Than Twelve Months				More Than Twelve Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	—	$	—	$	178,419	$	19,456	$	19,456
Obligations of states and municipalities	17,774		330		444,269		79,248		79,578
Residential mortgage backed - agency	616		10		42,382		4,331		4,341
Residential mortgage backed - non-agency	109,454		7,318		210,963		20,667		27,985
Commercial mortgage backed - agency	1,688		124		54,441		1,511		1,635
Commercial mortgage backed - non-agency	10,970		136		160,432		7,278		7,414
Asset-backed	21,586		187		61,972		2,632		2,819
Other	6,775		725		1,753		247		972
	$	168,863	$	8,830	$	1,154,631	$	135,370	$	144,200

	December 31, 2022
	Less Than Twelve Months				More Than Twelve Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Total Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies	$	28,399	$	1,131	$	146,594	$	22,030	$	23,161
Obligations of states and municipalities	128,373		12,378		320,287		84,317		96,695
Residential mortgage backed - agency	7,258		26		41,975		4,810		4,836
Residential mortgage backed - non-agency	204,866		11,822		134,056		14,868		26,690
Commercial mortgage backed - agency	23,026		562		34,847		1,390		1,952
Commercial mortgage backed - non-agency	144,193		6,171		23,374		2,249		8,420
Asset-backed	43,472		815		50,088		2,399		3,214
Other	6,877		623		1,766		234		857
	$	586,464	$	33,528	$	752,987	$	132,297	$	165,825