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v3.22.2.2

SECURITIES (Tables) | 9 Months Ended
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Sep. 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 Gain |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
September 30, 2022 |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 1,994 |  |  | $ | 0 |  |  | $ | (26) |  |  | $ | 0 |  |  | $ | 1,968 |
U.S. government sponsored agencies |  | 159,169 |  |  | 0 |  |  | (27,914) |  |  | 0 |  |  | 131,255 |
Mortgage-backed securities: residential |  | 597,258 |  |  | 80 |  |  | (92,582) |  |  | 0 |  |  | 504,756 |
State and municipal securities |  | 689,902 |  |  | 10 |  |  | (135,705) |  |  | 0 |  |  | 554,207 |
Total |  | $ | 1,448,323 |  |  | $ | 90 |  |  | $ | (256,227) |  |  | $ | 0 |  |  | $ | 1,192,186 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 900 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 900 |
U.S. government sponsored agencies |  | 145,858 |  |  | 39 |  |  | (2,445) |  |  | 0 |  |  | 143,452 |
Mortgage-backed securities: residential |  | 487,157 |  |  | 4,455 |  |  | (4,936) |  |  | 0 |  |  | 486,676 |
Mortgage-backed securities: commercial |  | 522 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 523 |
State and municipal securities |  | 742,532 |  |  | 25,749 |  |  | (1,274) |  |  | 0 |  |  | 767,007 |
Total |  | $ | 1,376,969 |  |  | $ | 30,244 |  |  | $ | (8,655) |  |  | $ | 0 |  |  | $ | 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 Gain |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
September 30, 2022 |  |  |  |  |  |  |  |  |  |
State and municipal securities |  | $ | 127,820 |  |  | $ | 0 |  |  | $ | (24,494) |  |  | $ | 0 |  |  | $ | 103,326 |
Schedule of Available-For-Sale Securities By Maturity | Information regarding the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by maturity as of September 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-Sale |  | Held-to-Maturity
(dollars in thousands) |  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 2,233 |  |  | $ | 2,213 |  |  | $ | 0 |  |  | $ | 0 |
Due after one year through five years |  | 8,401 |  |  | 8,324 |  |  | 0 |  |  | 0 |
Due after five years through ten years |  | 67,060 |  |  | 62,754 |  |  | 0 |  |  | 0 |
Due after ten years |  | 773,371 |  |  | 614,139 |  |  | 127,820 |  |  | 103,326 |
|  | 851,065 |  |  | 687,430 |  |  | 127,820 |  |  | 103,326 |
Mortgage-backed securities |  | 597,258 |  |  | 504,756 |  |  | 0 |  |  | 0 |
Total debt securities |  | $ | 1,448,323 |  |  | $ | 1,192,186 |  |  | $ | 127,820 |  |  | $ | 103,326 |
Schedule of Sales of Securities Available For Sale | Available-for-sale securities proceeds, gross gains and gross losses are presented below.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(dollars in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Sales of securities available-for-sale |  |  |  |  |  |  |  |
Proceeds |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 13,964 |
Gross gains |  | 0 |  |  | 0 |  |  | 0 |  |  | 797 |
Gross losses |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Number of securities |  | 0 |  |  | 0 |  |  | 0 |  |  | 8 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | Information regarding available-for-sale securities with unrealized losses as of September 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 months |  | 12 months or more |  | Total
(dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 1,968 |  |  | $ | 26 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 1,968 |  |  | $ | 26 |
U.S. government sponsored agencies |  | 47,754 |  |  | 9,295 |  |  | 83,501 |  |  | 18,619 |  |  | 131,255 |  |  | 27,914 |
Mortgage-backed securities: residential |  | 336,939 |  |  | 52,248 |  |  | 164,085 |  |  | 40,334 |  |  | 501,024 |  |  | 92,582 |
State and municipal securities |  | 501,538 |  |  | 117,485 |  |  | 44,476 |  |  | 18,220 |  |  | 546,014 |  |  | 135,705 |
Total available-for-sale |  | $ | 888,199 |  |  | $ | 179,054 |  |  | $ | 292,062 |  |  | $ | 77,173 |  |  | $ | 1,180,261 |  |  | $ | 256,227 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored agencies |  | $ | 85,968 |  |  | $ | 1,364 |  |  | $ | 28,676 |  |  | $ | 1,081 |  |  | $ | 114,644 |  |  | $ | 2,445 |
Mortgage-backed securities: residential |  | 272,264 |  |  | 4,076 |  |  | 22,792 |  |  | 860 |  |  | 295,056 |  |  | 4,936 |
State and municipal securities |  | 138,659 |  |  | 1,274 |  |  | 0 |  |  | 0 |  |  | 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 September 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 months |  | 12 months or more |  | Total
(dollars in thousands) |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
State and municipal securities |  | $ | 103,326 |  |  | $ | (24,494) |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 103,326 |  |  | $ | (24,494) |
Schedule of Quantitative Disclosure of Available-For-Sale Securities | The total number of securities with unrealized losses as of September 30, 2022 and December 31, 2021 is presented below.
| Available-for-sale |  | Held-to-maturity
| Less than 12 months |  | 12 months or more |  | Total |  | Less than 12 months |  | 12 months or more |  | Total
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 5 |  |  | 0 |  |  | 5 |  |  | 0 |  |  | 0 |  |  | 0 |
U.S. government sponsored agencies | 5 |  |  | 12 |  |  | 17 |  |  | 0 |  |  | 0 |  |  | 0 |
Mortgage-backed securities: residential | 114 |  |  | 24 |  |  | 138 |  |  | 0 |  |  | 0 |  |  | 0 |
State and municipal securities | 507 |  |  | 54 |  |  | 561 |  |  | 41 |  |  | 0 |  |  | 41 |
Total temporarily impaired | 631 |  |  | 90 |  |  | 721 |  |  | 41 |  |  | 0 |  |  | 41 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored agencies | 8 |  |  | 5 |  |  | 13 |  |  | 0 |  |  | 0 |  |  | 0 |
Mortgage-backed securities: residential | 29 |  |  | 3 |  |  | 32 |  |  | 0 |  |  | 0 |  |  | 0 |
State and municipal securities | 80 |  |  | 0 |  |  | 80 |  |  | 0 |  |  | 0 |  |  | 0 |
Total temporarily impaired | 117 |  |  | 8 |  |  | 125 |  |  | 0 |  |  | 0 |  |  | 0 |

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