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SECURITIES (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Summary 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) at December 31, 2022 and 2021 is provided in the tables on the next page.

NOTE 2 – SECURITIES (continued)

(dollars in thousands)			Amortized Cost						Gross Unrealized Gain						Gross Unrealized Losses						Allowance for Credit Losses						Fair Value
2022
U.S. Treasury securities			$	3,057					$	0					$	(23)					$	0					$	3,034
U.S. government sponsored agencies			156,184						0						(29,223)						0						126,961
Mortgage-backed securities: residential			578,175						67						(85,934)						0						492,308
Mortgage-backed securities: commercial			0						0						0						0						0
State and municipal securities			663,367						157						(100,299)						0						563,225
Total			$	1,400,783					$	224					$	(215,479)					$	0					$	1,185,528
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

Schedule of 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 gains and unrealized gains and losses at December 31, 2022 is presented in the table below.

(dollars in thousands)						Amortized Cost						Gross Unrealized Gain						Gross Unrealized Losses						Allowance for Credit Losses						Fair Value
2022
State and municipal securities						$	128,242					$	0					$	(17,213)					$	0					$	111,029

Schedule of Available-For-Sale Securities By Maturity

						Available-for-Sale												Held-to-Maturity
(dollars in thousands)						Amortized Cost						Fair Value						Amortized Cost						Fair Value
Due in one year or less						$	3,073					$	3,059					$	0					$	0
Due after one year through five years						6,443						6,431						0						0
Due after five years through ten years						57,481						55,437						0						0
Due after ten years						755,611						628,293						128,242						111,029
						822,608						693,220						128,242						111,029
Mortgage-backed securities						578,175						492,308						0						0
Total debt securities						$	1,400,783					$	1,185,528					$	128,242					$	111,029

Schedule of Sales of Securities Available For Sale

Security proceeds, gross gains and gross losses for 2022, 2021 and 2020 were as follows:

(dollars in thousands)			2022						2021						2020
Sales of securities available-for-sale
Proceeds			$	25,332					$	13,964					$	8,018
Gross gains			140						797						433
Gross losses			(119)						0						0
Number of securities			30						9						17

Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position

Information regarding available-for-sale securities securities with unrealized losses as of December 31, 2022 and 2021 is presented below. The tables distribute 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
2022
U.S. Treasury securities			$	3,034					$	23					$	0					$	0					$	3,034					$	23
U.S. government sponsored agencies			8,420						1,350						118,541						27,873						126,961						29,223
Mortgage-backed securities: residential			165,897						18,637						323,727						67,297						489,624						85,934
State and municipal securities			277,967						33,405						244,436						66,894						522,403						100,299
Total temporarily impaired			$	455,318					$	53,415					$	686,704					$	162,064					$	1,142,022					$	215,479
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 temporarily impaired			$	496,891					$	6,714					$	51,468					$	1,941					$	548,359					$	8,655

Schedule of Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value

Information regarding held-to-maturity securities with unrealized losses as of December 31, 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
December 31, 2022
State and municipal securities						$	0					$	0					$	111,029					$	17,213					$	111,029					$	17,213

Schedule of Quantitative Disclosure of Available-For-Sale Securities

The number of securities with unrealized losses as of December 31, 2022 and 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
2022
U.S. Treasury securities			7						0						7						0						0						0
U.S. government sponsored agencies			1						16						17						0						0						0
Mortgage-backed securities: residential			95						41						136						0						0						0
State and municipal securities			269						223						492						0						41						41
Total temporarily impaired			372						280						652						0						41						41
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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