Investment Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investment Securities

Schedule of amortized cost of investment securities to estimated fair values

	June 30, 2022
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	3,643	$	66	$	—	$	3,709
Mortgage backed securities
Residential agency		740,734		27		(88,254)		652,507
Commercial		80,077		—		(3,947)		76,130
Asset backed securities		40		—		—		40
Corporate bonds		69,031		130		(2,750)		66,411
Total available-for-sale investment securities		893,525		223		(94,951)		798,797
Held-to-maturity
Obligations of state and political agencies		139,102		2		(12,927)		126,177
Mortgage backed securities
Residential agency		192,639		—		(24,867)		167,772
Total held-to-maturity investment securities		331,741		2		(37,794)		293,949
Total investment securities	$	1,225,266	$	225	$	(132,745)	$	1,092,746

	December 31, 2021
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	5,028	$	75	$	—	$	5,103
Mortgage backed securities
Residential agency		717,781		1,213		(11,837)		707,157
Commercial		88,362		2,674		(123)		90,913
Asset backed securities		52		2		—		54
Corporate bonds		49,035		1,398		(11)		50,422
Total available-for-sale investment securities		860,258		5,362		(11,971)		853,649
Held-to-maturity
Obligations of state and political agencies		144,543		1,110		(349)		145,304
Mortgage backed securities
Residential agency		207,518		—		(3,145)		204,373
Total held-to-maturity investment securities		352,061		1,110		(3,494)		349,677
Total investment securities	$	1,212,319	$	6,472	$	(15,465)	$	1,203,326

Schedule of investment securities with gross unrealized losses

	June 30, 2022
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities
Residential agency		(51,859)		436,234		(36,395)		214,079		(88,254)		650,313
Commercial		(3,947)		76,130		—		—		(3,947)		76,130
Asset backed securities		—		—		—		2		—		2
Corporate bonds		(2,750)		56,780		—		—		(2,750)		56,780
Total available-for-sale investment securities		(58,556)		569,144		(36,395)		214,081		(94,951)		783,225
Held-to-maturity
Obligations of state and political agencies		(12,927)		122,734		—		—		(12,927)		122,734
Mortgage backed securities
Residential agency		(24,867)		167,772		—		—		(24,867)		167,772
Total held-to-maturity investment securities		(37,794)		290,506		—		—		(37,794)		290,506
Total investment securities	$	(96,350)	$	859,650	$	(36,395)	$	214,081	$	(132,745)	$	1,073,731

	December 31, 2021
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities
Residential agency		(10,156)		554,811		(1,681)		55,082		(11,837)		609,893
Commercial		(123)		17,470		—		—		(123)		17,470
Asset backed securities		—		—		—		2		—		2
Corporate bonds		(11)		5,989		—		—		(11)		5,989
Total available-for-sale investment securities		(10,290)		578,270		(1,681)		55,084		(11,971)		633,354
Held-to-maturity
Obligations of state and political agencies		(349)		53,210		—		—		(349)		53,210
Mortgage backed securities
Residential agency		(3,145)		204,373		—		—		(3,145)		204,373
Total held-to-maturity investment securities		(3,494)		257,583		—		—		(3,494)		257,583
Total investment securities	$	(13,784)	$	835,853	$	(1,681)	$	55,084	$	(15,465)	$	890,937

Schedule of contractual maturity of amortized cost and estimated fair value

	Held-to-maturity				Available-for-sale
	Carrying		Fair		Amortized		Fair
(dollars in thousands)	Value		Value		Cost		Value
Due within one year or less	$	6,831	$	6,794	$	20	$	21
Due after one year through five years		36,025		33,922		21,599		21,017
Due after five years through ten years		72,720		65,003		94,957		91,522
Due after 10 years		216,165		188,230		776,949		686,237
Total investment securities	$	331,741	$	293,949	$	893,525	$	798,797

Schedule of proceeds from the sale of available for sale securities

	Three months ended				Six months ended
	June 30,				June 30,
(dollars in thousands)	2022		2021		2022		2021
Proceeds	$	—	$	—	$	—	$	13,189
Realized gains		—		—		—		114
Realized losses		—		—		—		—

Schedule of proceeds from the call of held-to-maturity investment securities

	Three months ended				Six months ended
	June 30,				June 30,
(dollars in thousands)	2022		2021		2022		2021
Proceeds	$	211	$	—	$	726	$	1,415
Realized gains		—		—		—		—
Realized losses		—		—		—		—

Schedule of federal home loan bank

	June 30,		December 31,
(dollars in thousands)	2022		2021
Federal Reserve	$	2,675	$	2,675
FHLB		13,938		3,806