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INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Value of Available-for-Sale Securities
The following table sets forth certain information regarding the amortized cost basis and fair values of our investment securities AFS and held-to-maturity ("HTM"): 
At March 31, 2024
(in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
AFS
Mortgage backed securities ("MBS"):
Residential$189,366 $106 $(10,881)$178,591 
Commercial55,083 — (7,613)47,470 
Collateralized mortgage obligations ("CMOs"):
Residential407,152 24 (35,516)371,660 
Commercial62,702 — (6,000)56,702 
Municipal bonds449,327 231 (51,458)398,100 
Corporate debt securities41,159 5 (6,012)35,152 
U.S. Treasury securities22,571 — (2,675)19,896 
Agency debentures54,837 — (1,400)53,437 
Total$1,282,197 $366 $(121,555)$1,161,008 
HTM
   Municipal bonds$2,354 $— $(49)$2,305 

At December 31, 2023
(in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
AFS
MBS:
Residential$194,141 $117 $(10,460)$183,798 
Commercial55,235 — (7,479)47,756 
CMOs:
Residential473,269 8 (33,539)439,738 
Commercial63,456 — (6,059)57,397 
 Municipal bonds452,057 670 (47,853)404,874 
 Corporate debt securities45,611 34 (7,098)38,547 
 U.S. Treasury securities22,658 — (2,474)20,184 
 Agency debentures60,202 5 (1,302)58,905 
Total$1,366,629 $834 $(116,264)$1,251,199 
HTM
   Municipal bonds
$2,371 $— $(40)$2,331 
Amortized Cost and Fair Value of Held-to-Maturity Securities
The following table sets forth certain information regarding the amortized cost basis and fair values of our investment securities AFS and held-to-maturity ("HTM"): 
At March 31, 2024
(in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
AFS
Mortgage backed securities ("MBS"):
Residential$189,366 $106 $(10,881)$178,591 
Commercial55,083 — (7,613)47,470 
Collateralized mortgage obligations ("CMOs"):
Residential407,152 24 (35,516)371,660 
Commercial62,702 — (6,000)56,702 
Municipal bonds449,327 231 (51,458)398,100 
Corporate debt securities41,159 5 (6,012)35,152 
U.S. Treasury securities22,571 — (2,675)19,896 
Agency debentures54,837 — (1,400)53,437 
Total$1,282,197 $366 $(121,555)$1,161,008 
HTM
   Municipal bonds$2,354 $— $(49)$2,305 

At December 31, 2023
(in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
AFS
MBS:
Residential$194,141 $117 $(10,460)$183,798 
Commercial55,235 — (7,479)47,756 
CMOs:
Residential473,269 8 (33,539)439,738 
Commercial63,456 — (6,059)57,397 
 Municipal bonds452,057 670 (47,853)404,874 
 Corporate debt securities45,611 34 (7,098)38,547 
 U.S. Treasury securities22,658 — (2,474)20,184 
 Agency debentures60,202 5 (1,302)58,905 
Total$1,366,629 $834 $(116,264)$1,251,199 
HTM
   Municipal bonds
$2,371 $— $(40)$2,331 
Unrealized Gain (Loss) on Investments
Investment securities AFS that were in an unrealized loss position are presented in the following tables based on the length of time the individual securities have been in an unrealized loss position:

At March 31, 2024
 Less than 12 months12 months or moreTotal
(in thousands)Gross
unrealized
losses		Fair
value		Gross
unrealized
losses		Fair
value		Gross
unrealized
losses		Fair
value
AFS
MBS:
Residential
$(2)$722 $(10,879)$171,977 $(10,881)$172,699 
Commercial— — (7,613)47,470 (7,613)47,470 
CMOs:
Residential(51)14,896 (35,465)346,156 (35,516)361,052 
Commercial— — (6,000)56,702 (6,000)56,702 
Municipal bonds(109)15,526 (51,349)361,384 (51,458)376,910 
Corporate debt securities— — (6,012)25,147 (6,012)25,147 
U.S. Treasury securities— — (2,675)19,896 (2,675)19,896 
Agency debentures(3)4,997 (1,397)48,440 (1,400)53,437 
Total$(165)$36,141 $(121,390)$1,077,172 $(121,555)$1,113,313 
HTM
Municipal bonds$— $— $(49)$2,305 $(49)$2,305 
At December 31, 2023
 Less than 12 months12 months or moreTotal
(in thousands)Gross
unrealized
losses		Fair
value		Gross
unrealized
losses		Fair
value		Gross
unrealized
losses		Fair
value
AFS
MBS:
Residential$(3)$1,145 $(10,457)$177,393 $(10,460)$178,538 
Commercial— 61 (7,479)47,695 (7,479)47,756 
CMOs:
Residential(368)83,815 (33,171)348,914 (33,539)432,729 
Commercial— — (6,059)57,397 (6,059)57,397 
Municipal bonds(73)7,489 (47,780)364,775 (47,853)372,264 
Corporate debt securities— — (7,098)28,513 (7,098)28,513 
U.S. Treasury securities— — (2,474)20,184 (2,474)20,184 
Agency debentures(135)42,897 (1,167)11,003 (1,302)53,900 
Total$(579)$135,407 $(115,685)$1,055,874 $(116,264)$1,191,281 
HTM
Municipal bonds$— $— $(40)$2,331 $(40)$2,331 
Computation of Weighted Average Yield using Coupon on the Fair Value
The following tables present the fair value of investment securities AFS and HTM by contractual maturity along with the associated contractual yield:
 At March 31, 2024
 Within one yearAfter one year
through five years		After five years
through ten years		After
ten years		Total
(dollars in thousands)Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield
AFS          
   Municipal bonds$— — %$5,847 1.84 %$64,423 3.24 %$327,830 3.00 %$398,100 3.02 %
   Corporate debt securities
— — %13,867 4.87 %21,285 4.07 %— — %35,152 4.38 %
   U.S. Treasury securities
— — %19,896 1.13 %— — %— — %19,896 1.13 %
   Agency debentures16,962 5.00 %25,933 5.26 %7,398 2.13 %3,144 2.14 %53,437 4.56 %
Total$16,962 5.00 %$65,543 3.62 %$93,106 3.34 %$330,974 2.99 %$506,585 3.20 %
HTM
   Municipal bonds$— — %$2,305 2.28 %$— — %$— — %$2,305 2.28 %
 At December 31, 2023
 Within one yearAfter one year
through five years		After five years
through ten years		After
ten years		Total
(dollars in thousands)Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield
AFS
   Municipal bonds
$— — %$5,856 1.84 %$60,775 3.36 %$338,243 3.01 %$404,874 3.04 %
   Corporate debt securities
4,425 3.53 %12,714 4.95 %21,408 3.89 %— — %38,547 4.21 %
   U.S. Treasury securities
— — %20,184 1.14 %— — %— — %20,184 1.14 %
Agency debentures16,977 4.93 %30,925 5.20 %7,758 2.15 %3,245 2.17 %58,905 4.51 %
Total$21,402 4.64 %$69,679 3.64 %$89,941 3.40 %$341,488 3.00 %$522,510 3.21 %
HTM
   Municipal bonds$— — %$2,331 2.29 %$— — %$— — %$2,331 2.29 %
Schedule of Sales of Investment Securities
Sales of AFS investment securities were as follows:
Quarter Ended March 31,
(in thousands)20242023
Proceeds$— $4,693 
Gross gains— 3 
Gross losses— — 
Carrying Value of Securities Pledged as Collateral
The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law:

(in thousands)At March 31, 2024At December 31, 2023
Federal Reserve Bank to secure borrowings$581,314 $647,104 
Washington, Oregon and California to secure public deposits10,654 10,654 
Other securities pledged1,410 1,440 
Total securities pledged as collateral$593,378 $659,198