Securities (Tables)

9 Months Ended

Sep. 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
September 30, 2023
U.S. Treasury	$	—	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	892,171		10		(212,994)		—		679,187
MBS/CMO	775,708		—		(155,145)		—		620,563
US Gov’t Sponsored Entities & Agencies	223,556		—		(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 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 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 years	17,277		16,880
Due after five years through ten years	60,985		54,202
Due after ten years	812,102		606,312
MBS/CMO	775,708		620,563
US Gov’t Sponsored Entities & Agencies	223,556		177,206
Total	$	1,891,435	$	1,476,956

Schedule of Proceeds from the Sales of Securities

Proceeds from the Sales of Securities are summarized below:

	Three Months Ended		Three Months Ended
	September 30, 2023		September 30, 2022
Proceeds from Sales	$	—	$	2,073
Gross Gains on Sales	—		23
Income Taxes on Gross Gains	—		5

	Nine Months Ended		Nine Months Ended
	September 30, 2023		September 30, 2022
Proceeds from Sales	$	114,259	$	99,572
Gross Gains on Sales	346		517
Income Taxes on Gross Gains	73		109

Schedule of Securities with Unrealized Losses

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 Months				12 Months or More				Total
September 30, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	89,609		(5,201)		587,496		(207,793)		677,105		(212,994)
MBS/CMO	129		(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 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)