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SECURITIES (Tables)
9 Months Ended
Sep. 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
September 30, 2023
U.S. Treasury securities$2,873 $0 $(12)$0 $2,861 
U.S. government sponsored agencies148,895 0 (33,224)0 115,671 
Mortgage-backed securities: residential531,807 12 (102,157)0 429,662 
State and municipal securities558,346 1 (131,009)0 427,338 
Total$1,241,921 $13 $(266,402)$0 $975,532 
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)$$1,185,528 
Schedule of Debt Securities, Held-to-Maturity
Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross unrealized gains and losses is presented in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
September 30, 2023
State and municipal securities$129,494 $0 $(26,865)$0 $102,629 
December 31, 2022
State and municipal securities$128,242 $$(17,213)$$111,029 
Schedule of Available-For-Sale Securities By Maturity
Information regarding the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by maturity as of September 30, 2023 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized CostFair
Value
Amortized CostFair
Value
Due in one year or less$4,818 $4,806 $0 $0 
Due after one year through five years7,298 6,422 0 0 
Due after five years through ten years38,103 33,697 0 0 
Due after ten years659,895 500,945 129,494 102,629 
710,114 545,870 129,494 102,629 
Mortgage-backed securities531,807 429,662 0 0 
Total debt securities$1,241,921 $975,532 $129,494 $102,629 
Schedule of Sales of Securities Available For Sale
Available-for-sale securities proceeds, gross gains and gross losses are presented below.
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2023202220232022
Sales of securities available-for-sale
Proceeds$2,876 $$102,827 $
Gross gains0 439 
Gross losses(35)(455)
Number of securities6 109 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value Information regarding available-for-sale securities with unrealized losses as of September 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
September 30, 2023            
U.S. Treasury securities$2,466 $8 $395 $4 $2,861 $12 
U.S. government sponsored agencies0 0 115,671 33,224 115,671 33,224 
Mortgage-backed securities: residential3,596 187 425,212 101,970 428,808 102,157 
State and municipal securities26,084 2,106 397,793 128,903 423,877 131,009 
Total available-for-sale$32,146 $2,301 $939,071 $264,101 $971,217 $266,402 
December 31, 2022
U.S. Treasury securities$3,034 $23 $$$3,034 $23 
U.S. government sponsored agencies8,420 1,350 118,541 27,873 126,961 29,223 
Mortgage-backed securities: residential165,897 18,637 323,727 67,297 489,624 85,934 
State and municipal securities277,967 33,405 244,436 66,894 522,403 100,299 
Total available-for-sale$455,318 $53,415 $686,704 $162,064 $1,142,022 $215,479 
Schedule of Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value
Information regarding held-to-maturity securities with unrealized losses as of September 30, 2023 and December 31, 2022 is presented below. The table divides the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
September 30, 2023
State and municipal securities$0 $0 $102,629 $26,865 $102,629 $26,865 
December 31, 2022
State and municipal securities$$$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 September 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
September 30, 2023    
U.S. Treasury securities7 1 8 0 0 0 
U.S. government sponsored agencies0 17 17 0 0 0 
Mortgage-backed securities: residential8 126 134 0 0 0 
State and municipal securities47 383 430 0 41 41 
Total temporarily impaired62 527 589 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