Note 2 - INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2024

INVESTMENT SECURITIES

Schedule of amortized cost and fair value of HTM and AFS investment securities

			Allowance		Gross		Gross
	Amortized		for Credit		Unrealized		Unrealized		Fair
	Cost		(Losses)		Gains		(Losses)		Value
	(dollars in thousands)
March 31, 2024:
Securities HTM:
Municipal securities	$	717,776	$	(202)	$	25,468	$	(47,907)	$	695,135
Other securities		1,050		(1)		—		(14)		1,035
	$	718,826	$	(203)	$	25,468	$	(47,921)	$	696,170
Securities AFS:
U.S. govt. sponsored agency securities	$	17,054	$	—	$	10	$	(2,622)	$	14,442
Residential mortgage-backed and related securities		62,350		—		—		(6,279)		56,071
Municipal securities		205,928		—		3		(39,238)		166,693
Asset-backed securities		14,093		—		194		(2)		14,285
Other securities		43,235		—		15		(3,761)		39,489
	$	342,660	$	—	$	222	$	(51,902)	$	290,980

			Allowance		Gross		Gross
	Amortized		for Credit		Unrealized		Unrealized		Fair
	Cost		(Losses)		Gains		(Losses)		Value
	(dollars in thousands)
December 31, 2023:
Securities HTM:
Municipal securities	$	682,657	$	(202)	$	33,385	$	(36,639)	$	679,201
Other securities		1,050		(1)		44		(15)		1,078
	$	683,707	$	(203)	$	33,429	$	(36,654)	$	680,279
Securities AFS:
U.S. govt. sponsored agency securities	$	17,399	$	—	$	12	$	(2,438)	$	14,973
Residential mortgage-backed and related securities		65,168		—		—		(5,972)		59,196
Municipal securities		206,566		—		11		(35,590)		170,987
Asset-backed securities		15,261		—		167		(5)		15,423
Other securities		44,239		(989)		—		(4,174)		39,076
	$	348,633	$	(989)	$	190	$	(48,179)	$	299,655

Securities have been in a continuous unrealized loss position

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
March 31, 2024:
Securities HTM:
Municipal securities	$	45,235	$	(1,286)	$	316,062	$	(46,621)	$	361,297	$	(47,907)
Other securities		—		—		536		(14)		536		(14)
	$	45,235	$	(1,286)	$	316,598	$	(46,635)	$	361,833	$	(47,921)
Securities AFS:
U.S. govt. sponsored agency securities	$	—	$	—	$	13,579	$	(2,622)	$	13,579	$	(2,622)
Residential mortgage-backed and related securities		—		—		55,878		(6,279)		55,878		(6,279)
Municipal securities		—		—		165,877		(39,238)		165,877		(39,238)
Asset-backed securities		2,686		(2)		—		—		2,686		(2)
Other securities		2,661		(339)		35,855		(3,422)		38,516		(3,761)
	$	5,347	$	(341)	$	271,189	$	(51,561)	$	276,536	$	(51,902)

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
	(dollars in thousands)
December 31, 2023:
Securities HTM:
Municipal securities	$	1,320	$	(11)	$	289,891	$	(36,628)	$	291,211	$	(36,639)
Other securities		535		(15)		—		—		535		(15)
	$	1,855	$	(26)	$	289,891	$	(36,628)	$	291,746	$	(36,654)
Securities AFS:
U.S. govt. sponsored agency securities	$	—	$	—	$	14,018	$	(2,438)	$	14,018	$	(2,438)
Residential mortgage-backed and related securities		—		—		59,118		(5,972)		59,118		(5,972)
Municipal securities		283		(2)		169,876		(35,588)		170,159		(35,590)
Asset-backed securities		—		—		3,804		(5)		3,804		(5)
Other securities		3,805		(393)		35,271		(3,781)		39,076		(4,174)
	$	4,088	$	(395)	$	282,087	$	(47,784)	$	286,175	$	(48,179)

Schedule of activity in allowance for credit losses for HTM and AFS securities by major security

	Three Months Ended
	March 31, 2024								March 31, 2023
	Securities HTM						Securities AFS		Securities HTM		Securities AFS
	Municipal		Other				Corporate		Municipal		Corporate
	securities		securities		Total		securities		securities		securities
	(dollars in thousands)
Allowance for credit losses:
Beginning balance	$	202	$	1	$	203	$	989	$	180	$	—
Reduction due to sales		—		—		—		(544)		—		—
Provision for credit loss expense		—		—		—		(445)		—		989
Balance, ending	$	202	$	1	$	203	$	—	$	180	$	989

Schedule of realized gain (loss) on investments

	Three Months Ended
	March 31, 2024		March 31, 2023
Proceeds from sales of securities	$	445	$	28,628
Gross gains from sales of securities		—		44
Gross losses from sales of securities		—		(507)

Schedule of investments classified by maturity date

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Due in one year or less	$	1,702	$	1,691
Due after one year through five years		23,792		24,783
Due after five years		693,332		669,696
	$	718,826	$	696,170
Securities AFS:
Due in one year or less	$	919	$	914
Due after one year through five years		17,054		16,069
Due after five years		248,244		203,641
		266,217		220,624
Residential mortgage-backed and related securities		62,350		56,071
Asset-backed securities		14,093		14,285
	$	342,660	$	290,980

Schedule of investment in callable securities

	Amortized Cost		Fair Value
	(dollars in thousands)
Securities HTM:
Municipal securities	$	284,307	$	276,852
Securities AFS:
Municipal securities		204,865		165,649
Other securities		42,278		38,517
	$	247,143	$	204,166