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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the fair value for available for sale debt securities at June 30, 2023 and December 31, 2022 (in thousands):
June 30, 2023
Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
U.S. Treasury obligations$276,106 — (29,039)247,067 
Agency obligations31,452 301 — 31,753 
Mortgage-backed securities1,549,842 84 (203,202)1,346,724 
Asset-backed securities34,351 379 (224)34,506 
State and municipal obligations64,939 — (9,214)55,725 
Corporate obligations40,495 — (6,381)34,114 
$1,997,185 764 (248,060)1,749,889 
December 31, 2022
Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
U.S. Treasury obligations$275,620 — (29,804)245,816 
Mortgage-backed securities1,636,913 209 (209,983)1,427,139 
Asset-backed securities37,706 278 (363)37,621 
State and municipal obligations67,706 — (10,842)56,864 
Corporate obligations40,540 50 (4,482)36,108 
$2,058,485 537 (255,474)1,803,548 
Investment Securities Classified by Contractual Maturity
The amortized cost and fair value of available for sale debt securities at June 30, 2023, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
June 30, 2023
Amortized
cost		Fair
value
Due in one year or less$— — 
Due after one year through five years242,910 218,600 
Due after five years through ten years82,226 70,318 
Due after ten years56,404 47,988 
$381,540 336,906 
The amortized cost and fair value of investment securities in the held to maturity debt securities portfolio at June 30, 2023 by contractual maturity are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
June 30, 2023
Amortized
cost		Fair
value
Due in one year or less$25,283 25,199 
Due after one year through five years169,684 166,605 
Due after five years through ten years153,491 148,121 
Due after ten years30,461 25,104 
$378,919 365,029 
Investment Securities Held to Maturity
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the estimated fair value for held to maturity debt securities at June 30, 2023 and December 31, 2022 (in thousands):
June 30, 2023
Amortized
cost		Gross
unrealized
gains 		Gross
unrealized
losses 		Fair
value
Agency obligations$12,096 — (929)11,167 
State and municipal obligations357,003 168 (12,510)344,661 
Corporate obligations9,820 — (619)9,201 
$378,919 168 (14,058)365,029 
December 31, 2022
Amortized
cost		Gross
unrealized
gains 		Gross
unrealized
losses 		Fair
value
Agency obligations$9,997 — (1,033)8,964 
State and municipal obligations366,164 268 (13,015)353,417 
Corporate obligations11,789 1 (703)11,087 
$387,950 269 (14,751)373,468 
Amortized Cost of held To Maturity Debt Securities by Year of Originations and Credit Rating The following table provides the amortized cost of held to maturity debt securities by credit rating at June 30, 2023 and December 31, 2021 (in thousands):
June 30, 2023
Total PortfolioAAAAAABBBNot RatedTotal
Agency obligations$12,096 — — — — 12,096 
State and municipal obligations47,125 166,596 142,830 — 452 357,003 
Corporate obligations505 2,073 6,146 — 1,096 9,820 
$59,726 168,669 148,976 — 1,548 378,919 
December 31, 2022
Total PortfolioAAAAAABBBNot RatedTotal
Agency obligations$9,997 — — — — 9,997 
State and municipal obligations48,453 171,934 143,829 770 1,178 366,164 
Corporate obligations507 3,592 7,415 — 275 11,789 
$58,957 175,526 151,244 770 1,453 387,950