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Securities
 9 Months Ended
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Securities Securities 
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
    
September 30, 2023    
U.S. Treasury$— $— $— $— $— 
Obligations of State and Political Subdivisions892,171 10 (212,994)— 679,187 
MBS/CMO775,708 — (155,145)— 620,563 
US Gov’t Sponsored Entities & Agencies223,556 — (46,350)— 177,206 
Total$1,891,435 $10 $(414,489)$— $1,476,956 
December 31, 2022    
U.S. Treasury$64,097 $22 $— $— $64,119 
Obligations of State and Political Subdivisions939,193 673 (162,014)— 777,852 
MBS/CMO846,519 — (131,838)— 714,681 
US Gov’t Sponsored Entities & Agencies245,017 — (40,000)— 205,017 
Total$2,094,826 $695 $(333,852)$— $1,761,669 
 
All mortgage-backed securities in the above table (identified above and throughout this Note 4 as "MBS/CMO") are residential and multi-family mortgage-backed securities and guaranteed by government sponsored entities. The US Gov’t Sponsored Entities & Agencies in the above table include securities that have underlying collateral of equipment, machinery and commercial real estate.

The amortized cost and fair value of securities available-for-sale at September 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$1,807 $1,793 
Due after one year through five years17,277 16,880 
Due after five years through ten years60,985 54,202 
Due after ten years812,102 606,312 
MBS/CMO775,708 620,563 
US Gov’t Sponsored Entities & Agencies223,556 177,206 
Total$1,891,435 $1,476,956 
  
Proceeds from the Sales of Securities are summarized below:
 Three Months EndedThree Months Ended
September 30, 2023September 30, 2022
Proceeds from Sales$— $2,073 
Gross Gains on Sales— 23 
Income Taxes on Gross Gains— 5 
 Nine Months EndedNine Months Ended
 September 30, 2023September 30, 2022
Proceeds from Sales$114,259 $99,572 
Gross Gains on Sales346 517 
Income Taxes on Gross Gains73 109 
The carrying value of securities pledged to secure repurchase agreements, public and trust deposits, and for other purposes as required by law was $376,326 and $354,123 as of September 30, 2023 and December 31, 2022, respectively.

Below is a summary of securities with unrealized losses as of September 30, 2023 and December 31, 2022, presented by length of time the securities have been in a continuous unrealized loss position:
 Less than 12 Months12 Months or MoreTotal
September 30, 2023Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. Treasury$— $— $— $— $— $— 
Obligations of State and Political Subdivisions89,609 (5,201)587,496 (207,793)677,105 (212,994)
MBS/CMO129 (9)620,427 (155,136)620,556 (155,145)
US Gov’t Sponsored Entities & Agencies— — 177,206 (46,350)177,206 (46,350)
Total$89,738 $(5,210)$1,385,129 $(409,279)$1,474,867 $(414,489)

 Less than 12 Months12 Months or MoreTotal
December 31, 2022Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. Treasury$— $— $— $— $— $— 
Obligations of State and Political Subdivisions579,267 (117,423)122,992 (44,591)702,259 (162,014)
MBS/CMO240,344 (20,920)474,327 (110,918)714,671 (131,838)
US Gov’t Sponsored Entities & Agencies198,702 (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)

Available-for-sale debt securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. For available-for-sale debt securities in an unrealized loss position, the Company assesses whether we intend to sell, or it is more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is reduced to fair value through income. For available-for sale debt securities that do not meet the criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security and the issuer, among other factors. If this assessment indicates that a credit loss exists, we compare the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis for the security, a credit loss exists and an allowance for credit losses is recorded, limited to the amount that the fair value of the security is less than its amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of applicable taxes. The increase in unrealized losses from December 31, 2022 to September 30, 2023 was primarily the result of fair value adjustments caused by the change in market interest rates. There was no allowance for credit losses for available-for-sale debt securities at September 30, 2023 or December 31, 2022.

Although management has the ability to sell these securities if the need arises, their designation as available-for-sale should not necessarily be interpreted as an indication that management anticipates such sales.

Accrued interest receivable on available-for-sale debt securities totaled $9,272 at September 30, 2023 and $10,637 at December 31, 2022. Accrued interest receivable is excluded from the estimate of credit losses.
The Company’s equity securities are listed as Other Investments on the Consolidated Balance Sheets and consist of one non-controlling investment in a single banking organization at September 30, 2023 and December 31, 2022. The original investment totaled $1,350 and other-than-temporary impairment was previously recorded totaling $997. The Company’s equity securities are considered not to have readily determinable fair value and are carried at cost and evaluated for impairment. At September 30, 2023, there was no additional impairment recognized through earnings.