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Securities (Tables)

3 Months Ended

Mar. 31, 2022

Securities

Schedule of amortized cost and fair value of the securities portfolio and corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss


					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
March 31, 2022		Cost¹			Gains			Losses			Value
Securities available-for-sale
U.S. Treasury		$	227,646		$	13		$	(7,096)		$	220,563
U.S. government agencies			62,029			-			(2,993)			59,036
U.S. government agencies mortgage-backed			161,119			117			(8,088)			153,148
States and political subdivisions			237,988			4,358			(5,938)			236,408
Corporate bonds			10,000			-			(317)			9,683
Collateralized mortgage obligations			720,960			298			(24,745)			696,513
Asset-backed securities			278,941			240			(4,240)			274,941
Collateralized loan obligations			167,124			3			(969)			166,158
Total securities available-for-sale		$	1,865,807		$	5,029		$	(54,386)		$	1,816,450


					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
December 31, 2021		Cost¹			Gains			Losses			Value
Securities available-for-sale
U.S. Treasury		$	202,251		$	125		$	(37)		$	202,339
U.S. government agencies			62,587			-			(699)			61,888
U.S. government agencies mortgage-backed			172,016			856			(570)			172,302
States and political subdivisions			240,793			16,344			(672)			256,465
Corporate bonds			10,000			-			(113)			9,887
Collateralized mortgage obligations			673,238			2,014			(2,285)			672,967
Asset-backed securities			236,293			1,245			(661)			236,877
Collateralized loan obligations			79,838			3			(78)			79,763
Total securities available-for-sale		$	1,677,016		$	20,587		$	(5,115)		$	1,692,488

¹ Excludes accrued interest receivable of $5.2 million and $4.3 million at March 31, 2022 and December 31, 2021, respectively, that is recorded in other assets on the consolidated balance sheet.

Schedule of fair value, amortized cost and weighted average yield of debt securities by contractual maturity along with securities not due at a single maturity date, primarily mortgage-backed securities (MBS), asset-backed securities, and collateralized loan obligations


					Weighted
		Amortized			Average			Fair
Securities available-for-sale		Cost			Yield			Value
Due in one year or less		$	7,451		1.47	%		$	7,458
Due after one year through five years			300,065		0.95				289,731
Due after five years through ten years			46,076		2.50				44,739
Due after ten years			184,071		2.98				183,762
			537,663		1.78				525,690
Mortgage-backed and collateralized mortgage obligations			882,079		1.50				849,661
Asset-backed securities			278,941		1.33				274,941
Collateralized loan obligations			167,124		2.06				166,158
Total securities available-for-sale		$	1,865,807		1.61	%		$	1,816,450

Schedule of securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position


		Less than 12 months								12 months or more
March 31, 2022		in an unrealized loss position								in an unrealized loss position								Total
		Number of		Unrealized			Fair			Number of		Unrealized			Fair			Number of		Unrealized			Fair
Securities available-for-sale		Securities		Losses			Value			Securities		Losses			Value			Securities		Losses			Value
U.S. Treasuries		5		$	7,096		$	216,531		-		$	-		$	-		5		$	7,096		$	216,531
U.S. government agencies		5			2,884			54,588		4			109			4,448		9			2,993			59,036
U.S. government agencies mortgage-backed		124			7,322			142,866		5			766			5,341		129			8,088			148,207
States and political subdivisions		27			4,535			90,991		1			1,403			3,232		28			5,938			94,223
Corporate bonds		2			317			9,683		-			-			-		2			317			9,683
Collateralized mortgage obligations		208			24,649			647,144		1			96			7,366		209			24,745			654,510
Asset-backed securities		41			4,109			230		4			131			4,534		45			4,240			4,764
Collateralized loan obligations		22			885			128,303		2			84			10,587		24			969			138,890
Total securities available-for-sale		434		$	51,797		$	1,290,336		17		$	2,589		$	35,508		451		$	54,386		$	1,325,844


		Less than 12 months								12 months or more
December 31, 2021		in an unrealized loss position								in an unrealized loss position								Total
		Number of		Unrealized				Fair		Number of		Unrealized				Fair		Number of		Unrealized				Fair
Securities available-for-sale		Securities		Losses				Value		Securities		Losses				Value		Securities		Losses				Value
U.S. Treasuries		1		$	37		$	49,719		-		$	-		$	-		1		$	37		$	49,719
U.S. government agencies		5			592			56,879		4			107			5,008		9			699			61,887
U.S. government agencies mortgage-backed		63			505			78,711		1			65			1,663		64			570			80,374
States and political subdivisions		7			55			8,430		1			617			4,051		8			672			12,481
Corporate bonds		2			113			9,887		-			-			-		2			113			9,887
Collateralized mortgage obligations		133			2,285			381,658		-			-			-		133			2,285			381,658
Asset-backed securities		20			608			103,819		3			53			3,276		23			661			107,095
Collateralized loan obligations		10			35			45,132		2			43			10,628		12			78			55,760
Total securities available-for-sale		241		$	4,230		$	734,235		11		$	885		$	24,626		252		$	5,115		$	758,861