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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2024
(in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
AFS
Mortgage backed securities ("MBS"):
Residential$184,354 $121 $(10,722)$173,753 
Commercial54,932 — (7,511)47,421 
Collateralized mortgage obligations ("CMOs"):
Residential390,117 37 (35,193)354,961 
Commercial62,043 — (5,555)56,488 
Municipal bonds446,338 103 (54,654)391,787 
Corporate debt securities41,151 — (6,375)34,776 
U.S. Treasury securities22,483 — (2,645)19,838 
Agency debentures54,432 — (1,299)53,133 
Total$1,255,850 $261 $(123,954)$1,132,157 
HTM
   Municipal bonds$2,336 $— $(45)$2,291 

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 June 30, 2024
(in thousands)Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
AFS
Mortgage backed securities ("MBS"):
Residential$184,354 $121 $(10,722)$173,753 
Commercial54,932 — (7,511)47,421 
Collateralized mortgage obligations ("CMOs"):
Residential390,117 37 (35,193)354,961 
Commercial62,043 — (5,555)56,488 
Municipal bonds446,338 103 (54,654)391,787 
Corporate debt securities41,151 — (6,375)34,776 
U.S. Treasury securities22,483 — (2,645)19,838 
Agency debentures54,432 — (1,299)53,133 
Total$1,255,850 $261 $(123,954)$1,132,157 
HTM
   Municipal bonds$2,336 $— $(45)$2,291 

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 June 30, 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
$(1)$426 $(10,721)$167,595 $(10,722)$168,021 
Commercial— — (7,511)47,421 (7,511)47,421 
CMOs:
Residential— 2,066 (35,193)339,438 (35,193)341,504 
Commercial— — (5,555)56,488 (5,555)56,488 
Municipal bonds(346)20,649 (54,308)358,287 (54,654)378,936 
Corporate debt securities(8)9,991 (6,367)24,785 (6,375)34,776 
U.S. Treasury securities— — (2,645)19,838 (2,645)19,838 
Agency debentures(9)4,991 (1,290)48,142 (1,299)53,133 
Total$(364)$38,123 $(123,590)$1,061,994 $(123,954)$1,100,117 
HTM
Municipal bonds$— $— $(45)$2,291 $(45)$2,291 
At December 31, 2023
 Less than 12 months12 months or moreTotal
(in thousands)Gross
unrealized
losses		Fair
value		Gross
unrealized
losses		Fair
value		Gross
unrealized
losses		Fair
value
AFS
MBS:
Residential$(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)$2,331 
Computation of Weighted Average Yield using Coupon on the Fair Value
The following tables present the fair value of investment securities AFS and HTM by contractual maturity along with the associated contractual yield:
 At June 30, 2024
 Within one yearAfter one year
through five years		After five years
through ten years		After
ten years		Total
(dollars in thousands)Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield		Fair
Value		Weighted
Average
Yield
AFS          
   Municipal bonds$— — %$11,485 3.06 %$62,803 3.08 %$317,499 2.97 %$391,787 2.99 %
   Corporate debt securities
— — %14,073 4.94 %20,703 3.98 %— — %34,776 4.37 %
   U.S. Treasury securities
— — %19,838 1.13 %— — %— — %19,838 1.13 %
   Agency debentures16,976 5.01 %25,988 5.27 %7,054 2.13 %3,115 2.13 %53,133 4.58 %
Total$16,976 5.01 %$71,384 3.70 %$90,560 3.21 %$320,614 2.96 %$499,534 3.18 %
HTM
   Municipal bonds$— — %$2,291 2.28 %$— — %$— — %$2,291 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 %$522,510 3.21 %
HTM
   Municipal bonds$— — %$2,331 2.29 %$— — %$— — %$2,331 2.29 %
Schedule of Sales of Investment Securities
Sales of AFS investment securities were as follows:
Quarter Ended June 30,Six Months Ended June 30,
(in thousands)2024202320242023
Proceeds$— $— $— $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 June 30, 2024At December 31, 2023
Federal Reserve Bank to secure borrowings$284,390 $647,104 
Washington, Oregon and California to secure public deposits167,406 10,654 
Other securities pledged1,381 1,440 
Total securities pledged as collateral$453,177 $659,198