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SECURITIES (Tables)
6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-For-Sale Securities
Information related to the amortized cost, fair value and allowance for credit losses of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) is provided in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
June 30, 2023
U.S. Treasury securities$3,251 $0 $(19)$0 $3,232 
U.S. government sponsored agencies151,029 0 (28,943)0 122,086 
Mortgage-backed securities: residential545,616 34 (83,617)0 462,033 
State and municipal securities564,165 10 (89,457)0 474,718 
Total$1,264,061 $44 $(202,036)$0 $1,062,069 
December 31, 2022
U.S. Treasury securities$3,057 $$(23)$$3,034 
U.S. government sponsored agencies156,184 (29,223)126,961 
Mortgage-backed securities: residential578,175 67 (85,934)492,308 
State and municipal securities663,367 157 (100,299)563,225 
Total$1,400,783 $224 $(215,479)$$1,185,528 
Debt Securities, Held-to-Maturity
Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross unrealized gains and losses is presented in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
June 30, 2023
State and municipal securities$129,070 $0 $(14,806)$0 $114,264 
December 31, 2022
State and municipal securities$128,242 $$(17,213)$$111,029 
Schedule of Available-For-Sale Securities By Maturity
Information regarding the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by maturity as of June 30, 2023 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized CostFair
Value
Amortized CostFair
Value
Due in one year or less$4,331 $4,312 $0 $0 
Due after one year through five years8,799 8,052 0 0 
Due after five years through ten years30,996 29,763 0 0 
Due after ten years674,319 557,909 129,070 114,264 
718,445 600,036 129,070 114,264 
Mortgage-backed securities545,616 462,033 0 0 
Total debt securities$1,264,061 $1,062,069 $129,070 $114,264 
Schedule of Sales of Securities Available For Sale
Available-for-sale securities proceeds, gross gains and gross losses are presented below.
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2023202220232022
Sales of securities available-for-sale
Proceeds$12,480 $$99,951 $
Gross gains28 439 
Gross losses(25)(420)
Number of securities22 103 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value Information regarding available-for-sale securities with unrealized losses as of June 30, 2023 and December 31, 2022 is presented on the following page. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
June 30, 2023            
U.S. Treasury securities$2,836 $17 $396 $2 $3,232 $19 
U.S. government sponsored agencies0 0 122,086 28,943 122,086 28,943 
Mortgage-backed securities: residential23,595 1,374 436,450 82,243 460,045 83,617 
State and municipal securities41,561 1,543 421,684 87,914 463,245 89,457 
Total available-for-sale$67,992 $2,934 $980,616 $199,102 $1,048,608 $202,036 
December 31, 2022
U.S. Treasury securities$3,034 $23 $$$3,034 $23 
U.S. government sponsored agencies8,420 1,350 118,541 27,873 126,961 29,223 
Mortgage-backed securities: residential165,897 18,637 323,727 67,297 489,624 85,934 
State and municipal securities277,967 33,405 244,436 66,894 522,403 100,299 
Total available-for-sale$455,318 $53,415 $686,704 $162,064 $1,142,022 $215,479 
Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value
Information regarding held-to-maturity securities with unrealized losses as of June 30, 2023 and December 31, 2022 is presented below. The table divides the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
June 30, 2023
State and municipal securities$0 $0 $114,264 $14,806 $114,264 $14,806 
December 31, 2022
State and municipal securities$$$111,029 $17,213 $111,029 $17,213 
Schedule of Quantitative Disclosure of Available-For-Sale Securities
The total number of securities with unrealized losses as of June 30, 2023 and December 31, 2022 is presented below.
Available-for-saleHeld-to-maturity
Less than
12 months
12 months
or more
TotalLess than
12 months
12 months
or more
Total
June 30, 2023    
U.S. Treasury securities8 1 9 0 0 0 
U.S. government sponsored agencies0 17 17 0 0 0 
Mortgage-backed securities: residential29 102 131 0 0 0 
State and municipal securities56 367 423 0 41 41 
Total temporarily impaired93 487 580 0 41 41 
December 31, 2022
U.S. Treasury securities
U.S. government sponsored agencies16 17 
Mortgage-backed securities: residential95 41 136 
State and municipal securities269 223 492 41 41 
Total temporarily impaired372 280 652 41 41