Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Securities Available-for-Sale

The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of securities available-for-sale were as follows:

Securities Available-for-Sale:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
June 30, 2023
U.S. Treasury	$	999	$	1	$	—	$	—	$	1,000
Obligations of State and Political Subdivisions	894,264		487		(147,445)		—		747,306
MBS/CMO	793,915		—		(128,046)		—		665,869
US Gov’t Sponsored Entities & Agencies	226,223		—		(39,689)		—		186,534
Total	$	1,915,401	$	488	$	(315,180)	$	—	$	1,600,709
December 31, 2022
U.S. Treasury	$	64,097	$	22	$	—	$	—	$	64,119
Obligations of State and Political Subdivisions	939,193		673		(162,014)		—		777,852
MBS/CMO	846,519		—		(131,838)		—		714,681
US Gov’t Sponsored Entities & Agencies	245,017		—		(40,000)		—		205,017
Total	$	2,094,826	$	695	$	(333,852)	$	—	$	1,761,669

Schedule of Securities by Contractual Maturity

The amortized cost and fair value of securities available-for-sale at June 30, 2023 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed Securities are not due at a single maturity date and are shown separately.

Securities Available-for-Sale:	Amortized Cost		Fair Value
Due in one year or less	$	2,964	$	2,963
Due after one year through five years	15,119		15,106
Due after five years through ten years	53,731		51,246
Due after ten years	823,449		678,991
MBS/CMO	793,915		665,869
US Gov’t Sponsored Entities & Agencies	226,223		186,534
Total	$	1,915,401	$	1,600,709

Schedule of Proceeds from the Sales of Securities

Proceeds from the Sales of Securities are summarized below:

	Three Months Ended		Three Months Ended
	June 30, 2023		June 30, 2022
Proceeds from Sales	$	20,507	$	5,554
Gross Gains on Sales	38		78
Income Taxes on Gross Gains	8		16

	Six Months Ended		Six Months Ended
	June 30, 2023		June 30, 2022
Proceeds from Sales	$	114,259	$	97,500
Gross Gains on Sales	40		450
Income Taxes on Gross Gains	8		94

Schedule of Securities with Unrealized Losses

Below is a summary of securities with unrealized losses as of June 30, 2023 and December 31, 2022, presented by length of time the securities have been in a continuous unrealized loss position:

	Less than 12 Months				12 Months or More				Total
June 30, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	59,277		(688)		646,205		(146,757)		705,482		(147,445)
MBS/CMO	23,202		(1,315)		642,660		(126,731)		665,862		(128,046)
US Gov’t Sponsored Entities & Agencies	—		—		186,534		(39,689)		186,534		(39,689)
Total	$	82,479	$	(2,003)	$	1,475,399	$	(313,177)	$	1,557,878	$	(315,180)

	Less than 12 Months				12 Months or More				Total
December 31, 2022	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	579,267		(117,423)		122,992		(44,591)		702,259		(162,014)
MBS/CMO	240,344		(20,920)		474,327		(110,918)		714,671		(131,838)
US Gov’t Sponsored Entities & Agencies	198,702		(38,818)		6,314		(1,182)		205,016		(40,000)
Total	$	1,018,313	$	(177,161)	$	603,633	$	(156,691)	$	1,621,946	$	(333,852)