Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments [Abstract]

Debt Securities, Available-for-sale

	June 30, 2022								December 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
Obligations of states and
political subdivisions	$	264,756	$	509	$	21,768	$	243,497	$	263,809	$	8,622	$	215	$	272,216
Mortgage-backed securities:
U.S. government agencies	1,298,690		817		83,011		1,216,496		1,080,381		18,739		4,809		1,094,311
Private label	8,070		—		186		7,884		8,555		553		—		9,108
Trust preferred securities	4,579		—		779		3,800		4,570		—		367		4,203
Corporate securities	27,202		59		1,711		25,550		27,292		1,047		12		28,327
Total Securities Available-for-Sale	$	1,603,297	$	1,385	$	107,455	$	1,497,227	$	1,384,607	$	28,961	$	5,403	$	1,408,165

Gross Unrealized Losses And Fair Value Of Investments

The following table shows the gross unrealized losses and fair value of the Company’s investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	June 30, 2022
	Less Than Twelve Months				Twelve Months or Greater				Total
	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions	$	184,415	$	21,399	$	3,084	$	369	$	187,499	$	21,768
Mortgage-backed securities:
U.S. Government agencies	871,121		70,168		57,259		12,843		928,380		83,011
Private label	7,761		186		—		—		7,761		186
Trust preferred securities	—		—		3,800		779		3,800		779
Corporate securities	14,482		1,711		—		—		14,482		1,711
Total available-for-sale	$	1,077,779	$	93,464	$	64,143	$	13,991	$	1,141,922	$	107,455

	December 31, 2021
	Less Than Twelve Months				Twelve Months or Greater				Total
	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions	$	13,277	$	152	$	2,420	$	63	$	15,697	$	215
Mortgage-backed securities:
U.S. Government agencies	521,407		4,802		23,295		7		544,702		4,809
Trust preferred securities	—		—		4,203		367		4,203		367
Corporate securities	988		12		—		—		988		12
Total available-for-sale	$	535,672	$	4,966	$	29,918	$	437	$	565,590	$	5,403

Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity

The amortized cost and estimated fair value of debt securities at June 30, 2022, by contractual maturity, is shown in the following table (in thousands).  Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.  Mortgage-backed securities have been allocated to their respective maturity groupings based on their contractual maturity.

	Amortized Cost		Estimated Fair Value
Available-for-Sale Debt Securities
Due in one year or less	$	4,435	$	4,454
Due after one year through five years	45,012		44,735
Due after five years through ten years	443,123		429,972
Due after ten years	1,110,727		1,018,066
Total	$	1,603,297	$	1,497,227

Gross Gains And Losses Realized

Gross gains and gross losses recognized by the Company from investment security transactions are summarized in the table below (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Gross realized gains on securities sold	$	—	$	29	$	—	$	312
Gross realized losses on securities sold	—		—		—		—
Net investment security gains	$	—	$	29	$	—	$	312
Gross unrealized gains recognized on equity securities still held	$	2	$	2,216	$	42	$	2,720
Gross unrealized losses recognized on equity securities still held	(603)		(1,806)		(1,366)		(2,361)
Net unrealized losses recognized on equity securities still held	$	(601)	$	410	$	(1,324)	$	359