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SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Securities
The amortized cost, gross unrealized gains and losses and estimated fair value of securities at June 30, 2021 and December 31, 2020 are summarized as follows (in thousands):
 June 30, 2021
 Amortized CostFair
Value
Trading:
Corporate bonds$27,203 $25,097 
$27,203 $25,097 
 June 30, 2021
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair
Value
Available-for-Sale:
U.S. Government and agency obligations$94,847 $1,039 $(784)$— $95,102 
Municipal bonds311,533 17,180 (47)— 328,666 
Corporate bonds268,387 3,703 (14)— 272,076 
Mortgage-backed or related securities2,496,181 33,492 (28,176)— 2,501,497 
Asset-backed securities78,631 7 — — 78,638 
 $3,249,579 $55,421 $(29,021)$— $3,275,979 
 June 30, 2021
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Allowance for Credit Losses
Held-to-Maturity:
U.S. Government and agency obligations$318 $3 $— $321 $— 
Municipal bonds395,683 22,945 (803)417,825 (64)
Corporate bonds3,157 — (7)3,150 (46)
Mortgage-backed or related securities56,208 2,473 — 58,681 — 
$455,366 $25,421 $(810)$479,977 $(110)

December 31, 2020
Amortized CostFair
Value
Trading:
Corporate bonds$27,203 $24,980 
$27,203 $24,980 
December 31, 2020
Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
Available-for-Sale:
U.S. Government and agency obligations$141,668 $1,002 $(935)$— $141,735 
Municipal bonds283,997 19,523 (2)— 303,518 
Corporate bonds219,086 2,762 (79)— 221,769 
Mortgage-backed or related securities1,602,033 45,179 (1,060)— 1,646,152 
Asset-backed securities9,405 77 (63)— 9,419 
$2,256,189 $68,543 $(2,139)$— $2,322,593 

December 31, 2020
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-Maturity:
U.S. Government and agency obligations$340 $7 $— $347 $— 
Municipal bonds370,998 24,130 (94)395,034 (59)
Corporate bonds3,222 — (12)3,210 (35)
Mortgage-backed or related securities47,247 2,843 — 50,090 — 
$421,807 $26,980 $(106)$448,681 $(94)
Schedule of Securities with Continuous Loss Position
At June 30, 2021 and December 31, 2020, the gross unrealized losses and the fair value for securities available-for-sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position were as follows (in thousands):
June 30, 2021
Less Than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized LossesFair
Value		Unrealized LossesFair
Value		Unrealized Losses
Available-for-Sale:
U.S. Government and agency obligations
$— $— $70,401 $(784)$70,401 $(784)
Municipal bonds
5,024 (40)2,716 (7)7,740 (47)
Corporate bonds
— — 2,986 (14)2,986 (14)
Mortgage-backed or related securities
1,102,279 (24,266)203,238 (3,910)1,305,517 (28,176)
$1,107,303 $(24,306)$279,341 $(4,715)$1,386,644 $(29,021)
December 31, 2020
Less Than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized LossesFair
Value		Unrealized LossesFair
Value		Unrealized Losses
Available-for-Sale:
U.S. Government and agency obligations
$3,126 $(8)$50,603 $(927)$53,729 $(935)
Municipal bonds
495 (2)— — 495 (2)
Corporate bonds
3,586 (79)— — 3,586 (79)
Mortgage-backed or related securities
181,871 (1,046)2,337 (14)184,208 (1,060)
Asset-backed securities
— — 5,676 (63)5,676 (63)
$189,078 $(1,135)$58,616 $(1,004)$247,694 $(2,139)
Schedule of Realized Gain (Loss)
The following table presents gross gains and losses on sales of securities available-for-sale (in thousands):

 Three Months Ended
June 30,		Six Months Ended
June 30,
 2021202020212020
Available-for-Sale:
Gross Gains$77 $93 $626 $171 
Gross Losses— — (110)— 
Balance, end of the period$77 $93 $516 $171 
Schedule of Securities by Contractual Maturity Date
The amortized cost and estimated fair value of securities at June 30, 2021, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties.
 June 30, 2021
TradingAvailable-for-SaleHeld-to-Maturity
 Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Maturing in one year or less$— $— $163,091 $163,421 $5,085 $5,125 
Maturing after one year through five years— — 180,657 189,261 60,870 63,365 
Maturing after five years through ten years— — 717,085 721,323 23,764 25,531 
Maturing after ten years through twenty years27,203 25,097 398,925 414,207 167,344 173,728 
Maturing after twenty years— — 1,789,821 1,787,767 198,303 212,228 
 $27,203 $25,097 $3,249,579 $3,275,979 $455,366 $479,977 
Schedule of Pledged Securities
The following table presents, as of June 30, 2021, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands):
June 30, 2021
Carrying ValueAmortized CostFair
Value
Purpose or beneficiary:
State and local governments public deposits$203,479 $202,652 $216,996 
Interest rate swap counterparties27,056 26,296 27,209 
Repurchase agreements282,227 286,539 282,227 
Other 2,569 2,569 2,625 
Total pledged securities$515,331 $518,056 $529,057 
Debt Instrument, Credit Rating
The Company monitors the credit quality of held-to-maturity debt securities through the use of credit rating. Credit ratings are reviewed and updated quarterly. The Company's non-rated held-to-maturity debt securities are primarily United States government sponsored enterprise debentures carrying minimal to no credit risk. The balance is local municipal debt from within the Company's footprint and is monitored through quarterly or annual financial review. This municipal debt is predominately essential service or unlimited general obligation backed debt. The following table summarizes the amortized cost of held-to-maturity debt securities by credit rating at June 30, 2021 and December 31, 2020 (in thousands):
June 30, 2021
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
AAA/AA/A$— $361,917 $500 $— $362,417 
Not Rated318 33,766 2,657 56,208 92,949 
$318 $395,683 $3,157 $56,208 $455,366 

December 31, 2020
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
AAA/AA/A$— $349,123 $500 $— $349,623 
Not Rated340 21,875 2,722 47,247 72,184 
$340 $370,998 $3,222 $47,247 $421,807 
Debt Securities, Held-to-maturity, Allowance for Credit Loss The following table presents the activity in the allowance for credit losses for held-to-maturity debt securities by major type for the three and six months ended June 30, 2021 and June 30, 2020 (in thousands):
For the Three Months Ended June 30, 2021
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
Allowance for credit losses – securities
Beginning Balance$— $61 $37 $— $98 
Provision for credit losses— 3 9 — 12 
Ending Balance$— $64 $46 $— $110 
For the Six Months Ended June 30, 2021
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
Allowance for credit losses – securities
Beginning Balance$— $59 $35 $— $94 
Provision for credit losses— 5 11 — 16 
Ending Balance$— $64 $46 $— $110 

For the Three Months Ended June 30, 2020
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
Allowance for credit losses – securities
Beginning Balance$— $61 $37 $— $98 
Impact of adopting ASC 326— — — — — 
Provision for credit losses— — 4 — 4 
Ending Balance$— $61 $41 $— $102 
For the Six Months Ended June 30, 2020
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
Allowance for credit losses – securities
Beginning Balance$— $— $— $— $— 
Impact of adopting ASC 326— 28 35 — 63 
Provision for credit losses— 33 6 — 39 
Ending Balance$— $61 $41 $— $102