XML 50 R35.htm IDEA: XBRL DOCUMENT v3.22.4
Investments (Tables)
12 Months Ended
Dec. 31, 2022
Investments [Abstract]  
Investment
December 31, 2022December 31, 2021
Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueAmortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Securities available-for-sale:
Obligations of states and
     political subdivisions292,293 346 24,324 268,315 263,809 8,622 215 272,216 
Mortgage-backed securities:
     U.S. government agencies1,342,666 299 140,686 1,202,279 1,080,381 18,739 4,809 1,094,311 
     Private label7,695  464 7,231 8,555 553 — 9,108 
Trust preferred securities4,590  762 3,828 4,570 — 367 4,203 
Corporate securities
26,620  2,753 23,867 27,292 1,047 12 28,327 
Total Securities
   Available-for-Sale
$1,673,864 $645 $168,989 $1,505,520 $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):  
December 31, 2022
Less Than Twelve MonthsTwelve Months or GreaterTotal
Estimated Fair ValueUnrealized LossEstimated Fair ValueUnrealized LossEstimated Fair ValueUnrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions$203,173 $21,929 $13,359 $2,395 $216,532 $24,324 
Mortgage-backed securities:
     U.S. Government agencies533,611 50,268 376,778 90,418 910,389 140,686 
     Private Label 7,126 464   7,126 464 
Trust preferred securities  3,828 762 3,828 762 
Corporate securities
22,972 2,648 895 105 23,867 2,753 
Total available-for-sale
$766,882 $75,309 $394,860 $93,680 $1,161,742 $168,989 
December 31, 2021
Less Than Twelve MonthsTwelve Months or GreaterTotal
Estimated Fair ValueUnrealized LossEstimated Fair ValueUnrealized LossEstimated Fair ValueUnrealized 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 agencies521,407 4,802 23,295 544,702 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 December 31, 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.
CostEstimated Fair Value
Securities Available-for-Sale
Due in one year or less$2,905 $2,896 
Due after one year through five years50,712 48,401 
Due after five years through ten years530,300 490,723 
Due after ten years
1,089,947 963,500 
$1,673,864 $1,505,520 
Gross Gains And Losses Realized Gross gains and gross losses realized by the Company from investment security transactions are summarized in the table below (in thousands): 
For the year ended December 31,
202220212020
Gross unrealized gains recognized on equity securities still held$38 $547 $223 
Gross unrealized losses recognized on equity securities still held(1,623)(43)(1,086)
Net unrealized (losses) gains recognized on equity securities still held$(1,585)$504 $(863)
Gross realized gains$4 $312 $139 
Gross realized losses
 — (77)
Net realized investment security gains
$4 $312 $62