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Securities (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Value of Securities

The fair value of securities is as follows:

			December 31, 2023
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Available for sale
U.S. Treasury and federal agencies			$	72,938					—						$	(8,561)					$	64,377
State and municipal			353,299						—						(49,269)						304,030
Federal agency collateralized mortgage obligations			3,931						—						(351)						3,580
Federal agency mortgage–backed pools			161,130						—						(23,833)						137,297
Corporate notes			43,317						455						(5,805)						37,967
Total available for sale investment securities			$	634,615					$	455					$	(87,819)					$	547,251

			December 31, 2023
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Allowance for Credit Losses						Net Carrying Amount
Held to maturity
U.S. Treasury and federal agencies			$	287,259					$	—					$	(41,299)					$	245,960					$	—					$	287,259
State and municipal			1,088,499						1,185						(150,323)						939,361						(20)						1,088,479
Federal agency collateralized mortgage obligations			51,325						—						(7,846)						43,479						—						51,325
Federal agency mortgage–backed pools			323,649						—						(48,621)						275,028						—						323,649
Private labeled mortgage–backed pools			32,329						—						(4,595)						27,734						(7)						32,322
Corporate notes			162,734						—						(25,538)						137,196						(130)						162,604
Total held to maturity investment securities			$	1,945,795					$	1,185					$	(278,222)					$	1,668,758					$	(157)					$	1,945,638

			December 31, 2022
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Available for sale
U.S. Treasury and federal agencies			$	294,329					$	—					$	(27,150)					$	267,179
State and municipal			505,006						140						(71,602)						433,544
Federal agency collateralized mortgage obligations			33,011						—						(1,796)						31,215
Federal agency mortgage–backed pools			220,963						—						(30,307)						190,656
Corporate notes			84,393						195						(9,624)						74,964
Total available for sale investment securities			$	1,137,702					$	335					$	(140,479)					$	997,558
Held to maturity
U.S. Treasury and federal agencies			$	295,250					$	—					$	(49,237)					$	246,013
State and municipal			1,127,669						374						(192,458)						935,585
Federal agency collateralized mortgage obligations			56,564						—						(8,865)						47,699
Federal agency mortgage–backed pools			343,953						—						(56,714)						287,239
Private labeled mortgage–backed pools			35,466						—						(5,493)						29,973
Corporate notes			163,846						—						(29,046)						134,800
Total held to maturity investment securities			$	2,022,748					$	374					$	(341,813)					$	1,681,309

Schedule of Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity

The amortized cost and fair value of securities available for sale and held to maturity at December 31, 2023 and December 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

			December 31, 2023												December 31, 2022
			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Available for sale
Within one year			$	5,505					$	5,408					$	1,535					$	1,512
One to five years			100,301						89,650						340,212						312,137
Five to ten years			167,764						141,203						238,045						204,282
After ten years			195,984						170,113						303,936						257,756
			469,554						406,374						883,728						775,687
Federal agency collateralized mortgage obligations			3,931						3,580						33,011						31,215
Federal agency mortgage–backed pools			161,130						137,297						220,963						190,656
Total available for sale investment securities			$	634,615					$	547,251					$	1,137,702					$	997,558
Held to maturity
Within one year			$	33,483					$	33,169					$	32,610					$	32,382
One to five years			225,957						216,354						222,443						209,854
Five to ten years			350,843						304,067						324,967						280,618
After ten years			928,209						768,927						1,006,745						793,544
			1,538,492						1,322,517						1,586,765						1,316,398
Federal agency collateralized mortgage obligations			51,325						43,479						56,564						47,699
Federal agency mortgage–backed pools			323,649						275,028						343,953						287,239
Private labeled mortgage–backed pools			32,329						27,734						35,466						29,973
Total held to maturity investment securities			$	1,945,795					$	1,668,758					$	2,022,748					$	1,681,309

Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following table shows the gross unrealized losses and the fair value of the Company’s available for sale investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2023.

			December 31, 2023
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Investment Securities
U.S. Treasury and federal agencies			$	—					$	—					$	64,377					$	(8,561)					$	64,377					$	(8,561)
State and municipal			2,387						(236)						301,643						(49,033)						304,030						(49,269)
Federal agency collateralized mortgage obligations			—						—						3,580						(351)						3,580						(351)
Federal agency mortgage–backed pools			—						—						137,289						(23,833)						137,289						(23,833)
Corporate notes			—						—						36,359						(5,805)						36,359						(5,805)
Total securities			$	2,387					$	(236)					$	543,248					$	(87,583)					$	545,635					$	(87,819)

The following table shows the gross unrealized losses and the fair value of the Company’s available for sale and held to maturity investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022.

			December 31, 2022
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
Investment Securities
U.S. Treasury and federal agencies			$	217,357					$	(16,692)					$	295,585					$	(59,695)					$	512,942					$	(76,387)
State and municipal			533,871						(45,881)						757,061						(218,179)						1,290,932						(264,060)
Federal agency collateralized mortgage obligations			40,301						(2,881)						38,613						(7,780)						78,914						(10,661)
Federal agency mortgage–backed pools			49,633						(3,211)						428,243						(83,810)						477,876						(87,021)
Private labeled mortgage–backed pools			—						—						29,973						(5,493)						29,973						(5,493)
Corporate notes			38,906						(6,787)						169,921						(31,883)						208,827						(38,670)
Total securities			$	880,068					$	(75,452)					$	1,719,396					$	(406,840)					$	2,599,464					$	(482,292)

Schedule of Sales of Securities Available for Sale

Information regarding security proceeds, gross gains and gross losses are presented below.

			Year Ended December 31
			2023						2022						2021
Sales of securities available for sale
Proceeds			$	439,285					$	—					$	27,514
Gross gains			215						—						914
Gross losses			(32,267)						—						—

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