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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Securities
The amortized cost, gross unrealized gains and losses and estimated fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows (in thousands):
 March 31, 2022
 Amortized CostFair
Value
Trading:
Corporate bonds$27,203 $27,354 
$27,203 $27,354 
 March 31, 2022
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair
Value
Available-for-Sale:
U.S. Government and agency obligations$194,774 $176 $(756)$— $194,194 
Municipal bonds285,235 3,267 (16,238)— 272,264 
Corporate bonds119,396 383 (2,196)— 117,583 
Mortgage-backed or related securities2,509,530 2,202 (153,899)— 2,357,833 
Asset-backed securities206,278 111 (716)— 205,673 
 $3,315,213 $6,139 $(173,805)$— $3,147,547 
 March 31, 2022
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair
Value		Allowance for Credit Losses
Held-to-Maturity:
U.S. Government and agency obligations$315 $2 $(2)$315 $— 
Municipal bonds442,328 2,304 (28,252)416,380 (191)
Corporate bonds3,059 — (18)3,041 (229)
Mortgage-backed or related securities570,240 139 (21,575)548,804 — 
$1,015,942 $2,445 $(49,847)$968,540 $(420)

December 31, 2021
Amortized CostFair
Value
Trading:
Corporate bonds$27,203 $26,981 
$27,203 $26,981 
December 31, 2021
Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
Available-for-Sale:
U.S. Government and agency obligations$201,101 $852 $(621)$— $201,332 
Municipal bonds293,761 15,171 (320)— 308,612 
Corporate bonds114,427 3,103 (183)— 117,347 
Mortgage-backed or related securities2,837,480 17,749 (49,961)— 2,805,268 
Asset-backed securities206,391 52 (9)— 206,434 
$3,653,160 $36,927 $(51,094)$— $3,638,993 

December 31, 2021
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-Maturity:
U.S. Government and agency obligations$316 $3 $— $319 $— 
Municipal bonds420,555 20,743 (1,393)439,905 (203)
Corporate bonds3,092 — (3)3,089 (230)
Mortgage-backed or related securities97,392 1,171 (23)98,540 — 
$521,355 $21,917 $(1,419)$541,853 $(433)
Schedule of Securities with Continuous Loss Position
At March 31, 2022 and December 31, 2021, 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):
March 31, 2022
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
$101,620 $(182)$26,851 $(574)$128,471 $(756)
Municipal bonds
159,886 (16,238)— — 159,886 (16,238)
Corporate bonds
83,374 (2,196)— — 83,374 (2,196)
Mortgage-backed or related securities
1,352,151 (88,005)633,689 (65,894)1,985,840 (153,899)
Asset-backed securities
109,187 (716)— — 109,187 (716)
$1,806,218 $(107,337)$660,540 $(66,468)$2,466,758 $(173,805)
December 31, 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
$— $— $71,306 $(621)$71,306 $(621)
Municipal bonds
40,397 (221)8,541 (99)48,938 (320)
Corporate bonds
8,009 (121)9,938 (62)17,947 (183)
Mortgage-backed or related securities
1,307,411 (38,028)721,454 (11,933)2,028,865 (49,961)
Asset-backed securities
3,382 (9)— — 3,382 (9)
$1,359,199 $(38,379)$811,239 $(12,715)$2,170,438 $(51,094)
Schedule of Realized Gain (Loss)
The following table presents gross gains and losses on sales and partial calls of securities available-for-sale (in thousands):

 Three Months Ended
March 31,
 20222021
Available-for-Sale:
Gross Gains$436 $595 
Gross Losses(1)(110)
Balance, end of the period$435 $485 
Schedule of Securities by Contractual Maturity Date
The amortized cost and estimated fair value of securities at March 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties. (in thousands).
 March 31, 2022
TradingAvailable-for-SaleHeld-to-Maturity
 Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Maturing within one year$— $— $9,100 $9,126 $9,664 $9,670 
Maturing after one year through five years— — 187,185 187,107 45,900 46,116 
Maturing after five years through ten years— — 799,161 771,687 26,908 27,091 
Maturing after ten years27,203 27,354 2,319,767 2,179,627 933,470 885,663 
 $27,203 $27,354 $3,315,213 $3,147,547 $1,015,942 $968,540 
Schedule of Pledged Securities
The following table presents, as of March 31, 2022, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands):
March 31, 2022
Carrying ValueAmortized CostFair
Value
Purpose or beneficiary:
State and local governments public deposits$209,143 $209,922 $207,100 
Interest rate swap counterparties23,765 23,652 23,767 
Repurchase transaction accounts294,032 309,890 289,235 
Other 2,509 2,509 2,503 
Total pledged securities$529,449 $545,973 $522,605 
Debt Instrument, Credit Rating
The Company monitors the credit quality of held-to-maturity debt securities through the use of credit ratings which are reviewed and updated quarterly. The Company’s non-rated held-to-maturity debt securities are primarily United States government sponsored enterprise debentures carrying minimal to no credit risk. The non-rated corporate bonds primarily consist of Community Reinvestment Act related bonds secured by loan instruments from low to moderate income borrowers. The remaining non-rated held-to-maturity debt securities balance is comprised of local municipal debt from within the Company’s geographic footprint and is monitored through quarterly or annual financial review. This municipal debt is predominately essential service or unlimited general obligation backed debt. The following tables summarize the amortized cost of held-to-maturity debt securities by credit rating at March 31, 2022 and December 31, 2021 (in thousands):
March 31, 2022
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
AAA/AA/A$— $429,085 $500 $16,826 $446,411 
Not Rated315 13,243 2,559 553,414 569,531 
$315 $442,328 $3,059 $570,240 $1,015,942 

December 31, 2021
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
AAA/AA/A$— $406,363 $500 $— $406,863 
Not Rated316 14,192 2,592 97,392 114,492 
$316 $420,555 $3,092 $97,392 $521,355 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following tables present the activity in the allowance for credit losses for held-to-maturity debt securities by major type for the three months ended March 31, 2022 and March 31, 2021 (in thousands):
For the Three Months Ended March 31, 2022
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
Allowance for credit losses – securities
Beginning Balance$— $203 $230 $— $433 
Recapture of provision for credit losses— (12)(1)— (13)
Ending Balance$— $191 $229 $— $420 
For the Three Months Ended March 31, 2021
U.S. Government and agency obligationsMunicipal bondsCorporate bondsMortgage-backed or related securitiesTotal
Allowance for credit losses – securities
Beginning Balance$— $59 $35 $— $94 
Provision for credit losses— 2 2 — 4 
Ending Balance$— $61 $37 $— $98