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Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

The following table presents the fair values of our securities portfolio at the dates presented:

			December 31,
(dollars in thousands)			2022									2021
Available-for-sale debt securities						$	1,001,784								$	909,651
Marketable equity securities						994									1,142
Total Securities						$	1,002,778								$	910,793

Schedule of Composition of Securities

The following tables present the amortized cost and fair value of available-for-sale debt securities as of December 31, 2022 and December 31, 2021:

						December 31, 2022																											December 31, 2021
(dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value									Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury securities						$	145,416					$	—					$	(13,721)					$	131,695								$	95,954					$	115					$	(742)					$	95,327
Obligations of U.S. government corporations and agencies						43,479						—						(1,668)						41,811									68,599						1,749						—						70,348
Collateralized mortgage obligations of U.S. government corporations and agencies						482,039						203						(53,835)						428,407									270,696						2,408						(2,810)						270,294
Residential mortgage-backed securities of U.S. government corporations and agencies						49,418						3						(7,834)						41,587									57,029						392						(628)						56,793
Commercial mortgage-backed securities of U.S. government corporations and agencies						352,465						—						(25,152)						327,313									336,918						5,969						(1,587)						341,300
Corporate Obligations						500						—						—						500									500						—						—						500
Obligations of states and political subdivisions						30,788						55						(372)						30,471									70,539						4,550						—						75,089
Total Available-for-Sale Debt Securities(1)						$	1,104,105					$	261					$	(102,582)					$	1,001,784								$	900,235					$	15,183					$	(5,767)					$	909,651

(1) Excludes interest receivable of $3.7 million at December 31, 2022 and $3.3 million at December 31, 2021. Interest receivable is included in other assets in the Consolidated Balance Sheets.

Schedule of Gross and Net Realized Gains and Losses on Sale of Securities

The following table shows the composition of gross and net realized gains and losses for the periods presented:

						Years ended December 31,
(dollars in thousands)			2022									2021									2020
Gross realized gains						$	198								$	29								$	219
Gross realized losses						—									—									(77)
Net Realized Gains						$	198								$	29								$	142

Schedule of Temporally Impaired Debt Securities

The following tables present the fair value and the age of gross unrealized losses on available-for-sale debt securities by investment category as of the dates presented:

			December 31, 2022
			Less Than 12 Months																		12 Months or More																								Total
(dollars in thousands)			Number of Securities						Fair Value			Unrealized Losses									Number of Securities						Fair Value			Unrealized Losses									Number of Securities						Fair Value			Unrealized Losses
U.S. Treasury securities			6						$	57,057					$	(3,363)					8						$	74,638					$	(10,358)					14						$	131,695					$	(13,721)
Obligations of U.S. government corporations and agencies			6						41,811						(1,668)						—						—						—						6						41,811						(1,668)
Collateralized mortgage obligations of U.S. government corporations and agencies			47						296,509						(28,153)						13						112,902						(25,682)						60						409,411						(53,835)
Residential mortgage-backed securities of U.S. government corporations and agencies			25						7,143						(589)						3						34,223						(7,245)						28						41,366						(7,834)
Commercial mortgage-backed securities of U.S. government corporations and agencies			30						241,009						(11,975)						7						86,304						(13,177)						37						327,313						(25,152)
Corporate Obligations			—						—						—						—						—						—						—						—						—
Obligations of states and political subdivisions			2						20,127						(372)						—						—						—						2						20,127						(372)
Total			116						$	663,656					$	(46,120)					31						$	308,067					$	(56,462)					147						$	971,723					$	(102,582)

			December 31, 2021
			Less Than 12 Months																		12 Months or More																								Total
(dollars in thousands)			Number of Securities						Fair  Value			Unrealized Losses									Number of Securities						Fair Value			Unrealized Losses									Number of Securities						Fair Value			Unrealized Losses
U.S. Treasury securities			8						$	85,221					$	(742)					—						$	—					$	—					8						$	85,221					$	(742)
Obligations of U.S. government corporations and agencies									—						—						—						—						—						—						—						—
Collateralized mortgage obligations of U.S. government corporations and agencies			12						141,204						(2,436)						1						8,933						(374)						13						150,137						(2,810)
Residential mortgage-backed securities of U.S. government corporations and agencies			3						46,042						(628)						—						—						—						3						46,042						(628)
Commercial mortgage-backed securities of U.S. government corporations and agencies			7						100,032						(1,587)						—						—						—						7						100,032						(1,587)
Corporate Obligations			—						—						—						—						—						—						—						—						—
Obligations of states and political subdivisions			—						—						—						—						—						—						—						—						—
Total			30						$	372,499					$	(5,393)					1						$	8,933					$	(374)					31						$	381,432					$	(5,767)

Unrealized Gain (Loss) on Investments

The following table presents net unrealized gains and losses, net of tax, on available-for-sale debt securities included in accumulated OCI, for the periods presented:

			December 31, 2022																		December 31, 2021
(dollars in thousands)			Gross Unrealized Gains						Gross Unrealized Losses						Net Unrealized Gains (Losses)						Gross Unrealized Gains						Gross Unrealized Losses						Net Unrealized Gains (Losses)
Total unrealized gains/(losses) on available-for-sale debt securities			$	261					$	(102,582)					$	(102,321)					$	15,183					$	(5,767)					$	9,416
Income tax (expense) benefit			(56)						21,915						21,859						(3,215)						1,221						(1,994)
Net Unrealized Gains/(Losses), Net of Tax Included in Accumulated Other Comprehensive Income/(Loss)			$	205					$	(80,667)					$	(80,462)					$	11,968					$	(4,546)					$	7,422

Amortized Cost and Fair Value of Available-for-Sale Securities

The amortized cost and fair value of available-for-sale debt securities at December 31, 2022 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

			December 31, 2022
(dollars in thousands)			Amortized Cost						Fair Value
Obligations of the U.S. Treasury, U.S. government corporations and agencies, and obligations of states and political subdivisions
Due in one year or less			$	9,984					$	9,767
Due after one year through five years			149,091						138,134
Due after five years through ten years			49,085						44,838
Due after ten years			11,523						11,238
Available-for-Sale Debt Securities With Fixed Maturities			219,683						203,977
Collateralized mortgage obligations of U.S. government corporations and agencies			482,039						428,407
Residential mortgage-backed securities of U.S. government corporations and agencies			49,418						41,587
Commercial mortgage-backed securities of U.S. government corporations and agencies			352,465						327,313
Corporate Obligations			500						500
Total Available-for-Sale Debt Securities			$	1,104,105					$	1,001,784

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