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Securities (Tables)
3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of available for sale securities
The following table summarizes available-for-sale debt securities held by the Company at March 31, 2023:
Available-for-Sale Debt Securities
March 31, 2023Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$190,220 $$19,406 $170,814 
Obligations of U.S. Government sponsored entities670,978 71,216 599,762 
Obligations of U.S. states and political subdivisions92,915 10 6,241 86,684 
Mortgage-backed securities – residential, issued by
 U.S. Government agencies56,224 15 5,348 50,891 
 U.S. Government sponsored entities782,586 107,276 675,310 
U.S. corporate debt securities2,500 107 2,393 
Total available-for-sale debt securities$1,795,423 $25 $209,594 $1,585,854 
 
The following table summarizes available-for-sale debt securities held by the Company at December 31, 2022:
Available-for-Sale Debt Securities
December 31, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$190,170 $$22,919 $167,251 
Obligations of U.S. Government sponsored entities681,192 80,025 601,167 
Obligations of U.S. states and political subdivisions93,599 8,326 85,281 
Mortgage-backed securities – residential, issued by
U.S. Government agencies58,727 12 6,071 52,668 
U.S. Government sponsored entities805,603 119,381 686,222 
U.S. corporate debt securities2,500 122 2,378 
Total available-for-sale debt securities$1,831,791 $20 $236,844 $1,594,967 
Schedule of held to maturity securities
The following table summarizes held-to-maturity debt securities held by the Company at March 31, 2023:

Held-to-Maturity Securities
March 31, 2023Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$86,425 $$10,966 $75,459 
Obligations of U.S. Government sponsored entities225,932 34,292 191,640 
Total held-to-maturity debt securities$312,357 $0 $45,258 $267,099 

The following table summarizes held-to-maturity debt securities held by the Company at December 31, 2022:

Held-to-Maturity Securities
December 31, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
(In thousands)
U.S. Treasuries$86,478 $$12,937 $73,541 
Obligations of U.S. Government sponsored entities225,866 37,715 188,151 
Total held-to-maturity debt securities$312,344 $0 $50,652 $261,692 
March 31, 2023
(In thousands)Amortized CostFair Value
Held-to-maturity debt securities:
Due after five years through ten years$312,357 $267,099 
Total held-to-maturity debt securities$312,357 $267,099 

December 31, 2022
(In thousands)Amortized CostFair Value
Held-to-maturity debt securities:
Due after five years through ten years$312,344 $261,692 
Total held-to-maturity debt securities$312,344 $261,692 
Schedule of available for sale securities with unrealized losses
The following table summarizes available-for-sale debt securities that had unrealized losses at March 31, 2023:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$$$170,814 $19,406 $170,814 $19,406 
Obligations of U.S. Government sponsored entities95,536 1,931 504,226 69,286 599,762 71,217 
Obligations of U.S. states and political subdivisions20,397 306 58,598 5,936 78,995 6,242 
Mortgage-backed securities – residential, issued by
U.S. Government agencies5,484 183 45,046 5,164 50,530 5,347 
U.S. Government sponsored entities16,950 761 658,360 106,514 675,310 107,275 
U.S. corporate debt securities2,393 107 2,393 107 
Total available-for-sale debt securities$138,367 $3,181 $1,439,437 $206,413 $1,577,804 $209,594 
The following table summarizes available-for-sale debt securities that had unrealized losses at December 31, 2022:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$28,602 $2,132 $138,649 $20,787 $167,251 $22,919 
Obligations of U.S. Government sponsored entities143,794 7,508 457,373 72,517 601,167 80,025 
Obligations of U.S. states and political subdivisions46,638 2,385 33,435 5,941 80,073 8,326 
Mortgage-backed securities – residential, issued by
U.S. Government agencies22,945 1,258 29,356 4,813 52,301 6,071 
U.S. Government sponsored entities186,690 16,869 499,532 102,512 686,222 119,381 
U.S. corporate debt securities2,378 122 2,378 122 
Total available-for-sale debt securities$428,669 $30,152 $1,160,723 $206,692 $1,589,392 $236,844 
Schedule held-to-maturity securities with unrealized losses
The following table summarizes held-to-maturity debt securities that had unrealized losses at March 31, 2023:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$$$75,459 $10,966 $75,459 $10,966 
Obligations of U.S. Government sponsored entities8,293 604 183,347 33,688 191,640 34,292 
Total held-to-maturity debt securities$8,293 $604 $258,806 $44,654 $267,099 $45,258 

The following table summarizes held-to-maturity debt securities that had unrealized losses at December 31, 2022:

Less than 12 Months12 Months or LongerTotal
(In thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasuries$$$73,542 $12,937 $73,542 $12,937 
Obligations of U.S. Government sponsored entities24,543 3,903 163,607 33,812 188,150 37,715 
Total held-to-maturity debt securities$24,543 $3,903 $237,149 $46,749 $261,692 $50,652 
Schedule of amortized cost and estimated fair value of debt securities by contractual maturity
The amortized cost and estimated fair value of debt securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed securities are shown separately since they are not due at a single maturity date.

March 31, 2023
(In thousands)Amortized CostFair Value
Available-for-sale debt securities:
Due in one year or less$40,237 $39,828 
Due after one year through five years554,392 506,082 
Due after five years through ten years325,346 283,610 
Due after ten years36,638 30,133 
Total956,613 859,653 
Mortgage-backed securities838,810 726,201 
Total available-for-sale debt securities$1,795,423 $1,585,854 
December 31, 2022
(In thousands)Amortized CostFair Value
Available-for-sale debt securities:
Due in one year or less$50,922 $50,269 
Due after one year through five years508,880 459,721 
Due after five years through ten years367,743 314,408 
Due after ten years39,916 31,679 
Total967,461 856,077 
Mortgage-backed securities864,330 738,890 
Total available-for-sale debt securities$1,831,791 $1,594,967