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INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Values of Investments
The amortized cost and estimated fair values of investments available-for-sale and held-to-maturity at December 31 are presented in the following table:

20232022


(In thousands)
Amortized CostGross Unrealized
Gains
Gross Unrealized
Losses
Estimated Fair
Value
Amortized CostGross Unrealized
Gains
Gross Unrealized
Losses
Estimated Fair
Value
Available-for-sale debt securities
U.S. treasuries and government agencies$101,678 $ $(4,751)$96,927 $100,926 $— $(7,304)$93,622 
State and municipal311,505 1 (43,292)268,214 322,519 (56,526)265,997 
Mortgage-backed and asset-backed807,636 181 (70,277)737,540 943,398 73 (88,552)854,919 
Total available-for-sale debt securities$1,220,819 $182 $(118,320)$1,102,681 $1,366,843 $77 $(152,382)$1,214,538 
Held-to-maturity debt securities:
Mortgage-backed and asset-backed236,165  (35,754)200,411 259,452 — (39,329)220,123 
Total held-to-maturity debt securities$236,165 $ $(35,754)$200,411 $259,452 $— $(39,329)$220,123 
Total debt securities$1,456,984 $182 $(154,074)$1,303,092 $1,626,295 $77 $(191,711)$1,434,661 
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
Gross unrealized losses and fair values by length of time that individual available-for-sale securities have been in an unrealized loss position at December 31 are presented in the following tables:

 December 31, 2023
 Number
of
Securities
Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. treasuries and government agencies10 $ $ $96,927 $4,751 $96,927 $4,751 
State and municipal123 4,162 84 262,081 43,208 266,243 43,292 
Mortgage-backed and asset-backed321 22,731 106 691,281 70,171 714,012 70,277 
Total454 $26,893 $190 $1,050,289 $118,130 $1,077,182 $118,320 
 December 31, 2022
 Number
of
Securities
Less Than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. treasuries and government agencies10 $53,139 $3,653 $40,483 $3,651 $93,622 $7,304 
State and municipal130 200,439 30,803 62,482 25,723 262,921 56,526 
Mortgage-backed and asset-backed324 526,387 44,952 297,216 43,600 823,603 88,552 
Total464 $779,965 $79,408 $400,181 $72,974 $1,180,146 $152,382 
Estimated Fair Values of Debt Securities by Contractual Maturity
The estimated fair values and amortized costs of available-for-sale and held-to-maturity debt securities by contractual maturity at December 31 are provided in the following table:

December 31, 2023December 31, 2022
(In thousands)Fair ValueAmortized CostFair ValueAmortized Cost
U.S. treasuries and government agencies:
One year or less$17,798 $17,979 $— $— 
One to five years79,129 83,699 93,622 100,926 
Five to ten years  — — 
After ten years  — — 
State and municipal:
One year or less22,345 22,793 8,694 8,783 
One to five years33,282 34,288 51,576 53,948 
Five to ten years46,355 54,487 28,806 34,042 
After ten years166,232 199,937 176,921 225,746 
Mortgage-backed and asset-backed:
One year or less20,814 21,111 7,622 7,704 
One to five years29,823 30,666 45,366 46,802 
Five to ten years256,924 280,209 303,697 335,285 
After ten years429,979 475,650 498,234 553,607 
Total available-for-sale debt securities$1,102,681 $1,220,819 $1,214,538 $1,366,843 

December 31, 2023December 31, 2022
(In thousands)Fair ValueAmortized CostFair ValueAmortized Cost
Held-to-maturity debt securities
Mortgage-backed and asset-backed:
One year or less  — — 
One to five years  — — 
Five to ten years31,434 34,458 35,304 39,213 
After ten years168,977 201,707 184,819 220,239 
Total held-to-maturity debt securities$200,411 $236,165 $220,123 $259,452 
Other Investments
Other investments are presented in the following table:
(In thousands)20232022
Federal Reserve Bank stock, at cost$39,125 $38,873 
Federal Home Loan Bank of Atlanta stock, at cost35,805 29,668 
Other677 677 
Total other investments, at cost$75,607 $69,218 
Gross Realized Gains and Losses on All Investments
Gross realized gains and losses on all investments for the years ended December 31 are presented in the following table:

(In thousands)202320222021
Gross realized gains from sales of investments available-for-sale$ $$3,588 
Gross realized losses from sales of investments available-for-sale (393)(3,478)
Net gains from calls of investments available-for-sale 40 102 
Net investment securities gains/ (losses)$ $(345)$212