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SECURITIES (Tables)
6 Months Ended
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-For-Sale Securities
Information related to the amortized cost, fair value and allowance for credit losses of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) is provided in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
June 30, 2022
U.S. Treasury securities$2,249 $0 $(15)$0 $2,234 
U.S. government sponsored agencies161,587 0 (19,326)0 142,261 
Mortgage-backed securities: residential619,651 261 (61,790)0 558,122 
State and municipal securities692,698 622 (95,357)0 597,963 
Total$1,476,185 $883 $(176,488)$0 $1,300,580 
December 31, 2021
U.S. Treasury securities$900 $$$$900 
U.S. government sponsored agencies145,858 39 (2,445)143,452 
Mortgage-backed securities: residential487,157 4,455 (4,936)486,676 
Mortgage-backed securities: commercial522 523 
State and municipal securities742,532 25,749 (1,274)767,007 
Total$1,376,969 $30,244 $(8,655)$$1,398,558 
Debt Securities, Held-to-Maturity
Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross unrealized gains and losses is presented in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
June 30, 2022
State and municipal securities$127,411 $$(14,061)$$113,350 
Schedule of Available-For-Sale Securities By Maturity
Information regarding the fair value and amortized cost of available-for-sale and held-to-maturity debt securities by maturity as of June 30, 2022 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized CostFair
Value
Amortized CostFair
Value
Due in one year or less$3,403 $3,394 $0 $0 
Due after one year through five years8,802 8,866 0 0 
Due after five years through ten years57,634 56,380 0 0 
Due after ten years786,695 673,818 127,411 113,350 
856,534 742,458 127,411 113,350 
Mortgage-backed securities619,651 558,122 0 0 
Total debt securities$1,476,185 $1,300,580 $127,411 $113,350 
Schedule of Sales of Securities Available For Sale Available-for-sale securities proceeds, gross gains and gross losses are presented below.
Three months ended June 30,Six Months Ended June 30,
(dollars in thousands)2022202120222021
Sales of securities available-for-sale
Proceeds$0 $458 $0 $13,964 
Gross gains0 44 0 797 
Gross losses0 0 
Number of securities0 0 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value Information regarding available-for-sale securities with unrealized losses as of June 30, 2022 and December 31, 2021 is presented on the following page. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
June 30, 2022            
U.S. Treasury securities$2,234 $15 $0 $0 $2,234 $15 
U.S. government sponsored agencies106,954 13,796 35,307 5,530 142,261 19,326 
Mortgage-backed securities: residential447,418 43,772 100,785 18,018 548,203 61,790 
State and municipal securities510,360 91,660 10,848 3,697 521,208 95,357 
Total available-for-sale$1,066,966 $149,243 $146,940 $27,245 $1,213,906 $176,488 
December 31, 2021
U.S. government sponsored agencies$85,968 $1,364 $28,676 $1,081 $114,644 $2,445 
Mortgage-backed securities: residential272,264 4,076 22,792 860 295,056 4,936 
State and municipal securities138,659 1,274 138,659 1,274 
Total available-for-sale$496,891 $6,714 $51,468 $1,941 $548,359 $8,655 
Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value
Information regarding held-to-maturity securities with unrealized losses as of June 30, 2022 is presented below. The table divides the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more. No investment securities were designated as held-to-maturity at December 31, 2021.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
June 30, 2022
State and municipal securities$113,350 $14,061 $0 $0 $113,350 $14,061 
Schedule of Quantitative Disclosure of Available-For-Sale Securities
The total number of securities with unrealized losses as of June 30, 2022 and December 31, 2021 is presented below.
Available-for-saleHeld-to-maturity
Less than
12 months
12 months
or more
TotalLess than
12 months
12 months
or more
Total
June 30, 2022    
U.S. Treasury securities6 0 6 0 0 0 
U.S. government sponsored agencies11 6 17 0 0 0 
Mortgage-backed securities: residential114 15 129 0 0 0 
Mortgage-backed securities: commercial0 0 0 0 0 0 
State and municipal securities468 11 479 41 0 41 
Total temporarily impaired599 32 631 41 0 41 
December 31, 2021
U.S. government sponsored agencies13 
Mortgage-backed securities: residential29 32 
State and municipal securities80 80 
Total temporarily impaired117 125