Securities (Tables)

3 Months Ended

Mar. 31, 2024

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		Fair Value
March 31, 2024
U.S. Treasury	$	49,680	$	6	$	—	$	49,686
Obligations of State and Political Subdivisions	826,416		316		(137,972)		688,760
MBS/CMO	746,250		17		(123,251)		623,016
US Gov’t Sponsored Entities & Agencies	216,565		—		(38,757)		177,808
Total	$	1,838,911	$	339	$	(299,980)	$	1,539,270
December 31, 2023
U.S. Treasury	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	889,940		1,309		(122,374)		768,875
MBS/CMO	761,025		28		(116,013)		645,040
US Gov’t Sponsored Entities & Agencies	220,295		—		(37,378)		182,917
Total	$	1,871,260	$	1,337	$	(275,765)	$	1,596,832

Schedule of Securities by Contractual Maturity

The amortized cost and fair value of securities available-for-sale at March 31, 2024 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	$	51,185	$	51,185
Due after one year through five years	12,108		12,036
Due after five years through ten years	50,483		46,605
Due after ten years	762,320		628,620
MBS/CMO	746,250		623,016
US Gov’t Sponsored Entities & Agencies	216,565		177,808
Total	$	1,838,911	$	1,539,270

Schedule of Proceeds from the Sales of Securities

Proceeds from the Sales of Securities are summarized below:

	Three Months Ended		Three Months Ended
	March 31, 2024		March 31, 2023
Proceeds from Sales	$	62,162	$	93,752
Gross Gains on Sales	360		257
Gross Losses on Sales	325		255
Income Taxes on Gross Gains	7		—

Schedule of Securities with Unrealized Losses

Below is a summary of securities with unrealized losses as of March 31, 2024 and December 31, 2023, presented by length of time the securities have been in a continuous unrealized loss position:

	Less than 12 Months				12 Months or More				Total
March 31, 2024	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Obligations of State and Political Subdivisions	$	18,497	$	(256)	$	653,099	$	(137,716)	$	671,596	$	(137,972)
MBS/CMO	—		—		621,301		(123,251)		621,301		(123,251)
US Gov’t Sponsored Entities & Agencies	—		—		177,808		(38,757)		177,808		(38,757)
Total	$	18,497	$	(256)	$	1,452,208	$	(299,724)	$	1,470,705	$	(299,980)

	Less than 12 Months				12 Months or More				Total
December 31, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Obligations of State and Political Subdivisions	$	13,469	$	(175)	$	668,223	$	(122,199)	$	681,692	$	(122,374)
MBS/CMO	135		(1)		643,172		(116,012)		643,307		(116,013)
US Gov’t Sponsored Entities & Agencies	—		—		182,917		(37,378)		182,917		(37,378)
Total	$	13,604	$	(176)	$	1,494,312	$	(275,589)	$	1,507,916	$	(275,765)