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SECURITIES (Tables)
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Securities Available for Sale
Amortized cost and estimated fair value of securities available for sale at December 31, 2022 and 2021 are as follows (in thousands):
 20222021
 Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
U.S. treasury notes and bonds$61,800 $55,574 $61,084 $60,431 
Mortgage-backed securities, residential$518,838 $435,131 $582,060 $577,361 
Obligations of states and political subdivisions39,828 38,892 40,299 42,303 
Corporate bonds and notes25,750 21,970 22,750 22,848 
SBA loan pools82,982 81,022 89,216 89,083 
Total$729,198 $632,589 $795,409 $792,026 

Gross unrealized gains and losses on securities available for sale at December 31, 2022 and 2021, were as follows (in thousands):
 20222021
Unrealized
Gains
Unrealized
Losses
Unrealized
Gains
Unrealized
Losses
U.S. treasury notes and bonds$— $6,225 $27 $680 
Mortgage-backed securities, residential$— $83,707 $4,032 $8,731 
Obligations of states and political subdivisions938 2,004 — 
Corporate bonds and notes— 3,780 180 82 
SBA loan pools155 2,116 344 477 
Total$157 $96,766 $6,587 $9,970 
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale by Contractual Maturity Securities not due at a single maturity date are shown separately (in thousands):
 December 31, 2022
Amortized
Cost
Fair
Value
Within one year$2,576 $2,537 
After one, but within five years106,445 97,982 
After five, but within ten years17,887 15,481 
After ten years470 436 
Mortgage-backed securities, residential518,838 435,131 
SBA loan pools82,982 81,022 
Total$729,198 $632,589 
Amortized Cost and Estimated Fair Value of Securities Held to Maturity
Amortized cost and estimated fair value of securities held to maturity at December 31, 2022 and 2021 are as follows (in thousands):
 20222021
 Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
Obligations of states and political subdivisions$952 $952 $2,157 $2,157 
Time deposits with other financial institutions1,472 1,450 1,633 1,639 
 $2,424 $2,402 $3,790 $3,796 


Gross unrealized gains and losses on securities held to maturity at December 31, 2022 and 2021, were as follows (in thousands):
 20222021
Unrealized
Gains
Unrealized
Losses
Unrealized
Gains
Unrealized
Losses
Time deposits with other financial institutions$— $22 $$— 
Total$— $22 $$— 
Contractual Maturities of Securities Held to Maturity
The contractual maturity of securities held to maturity is as follows at December 31, 2022 (in thousands):
 December 31, 2022
Amortized
Cost
Fair
Value
Within one year$1,496 $1,493 
After one, but within five years928 909 
Total$2,424 $2,402 
Investment Securities Available for Sale in Unrealized Loss Position
The following table summarizes the investment securities available for sale with unrealized losses at December 31, 2022 and December 31, 2021 by aggregated major security type and length of time in a continuous unrealized position (in thousands):
 Less than 12 months12 months or longerTotal
 Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
2022
U.S. treasury notes and bonds$1,011 $30 $54,563 $6,195 $55,574 $6,225 
Mortgage-backed securities, residential79,891 7,621 355,240 76,086 435,131 83,707 
Obligations of states and political subdivisions37,847 938 — — 37,847 938 
Corporate bonds and notes4,515 485 7,455 3,295 11,970 3,780 
SBA loan pools14,333 925 51,123 1,191 65,456 2,116 
Total temporarily impaired securities$137,597 $9,999 $468,381 $86,767 $605,978 $96,766 

 Less than 12 months12 months or longerTotal
 Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
2021
U.S. treasury notes and bonds$49,084 $680 $— $— $49,084 $680 
Mortgage-backed securities, residential$293,720 $4,502 $122,050 $4,229 $415,770 $8,731 
Corporate bonds and notes4,928 72 1,989 10 6,917 82 
SBA loan pools51,235 296 13,769 181 65,004 477 
Total temporarily impaired securities$398,967 $5,550 $137,808 $4,420 $536,775 $9,970