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Securities (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Fair Value of Securities

The fair value of securities is as follows:

			March 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Available for sale
U.S. Treasury and federal agencies			$	71,943					$	—					$	(9,017)					$	62,926
State and municipal			352,738						—						(53,483)						299,255
Federal agency collateralized mortgage obligations			3,819						—						(369)						3,450
Federal agency mortgage-backed pools			157,812						—						(24,670)						133,142
Corporate notes			42,119						—						(5,573)						36,546
Total available for sale investment securities			$	628,431					$	—					$	(93,112)					$	535,319

			March 31, 2024
			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			$	284,236					$	—					$	(43,199)					$	241,037					$	—					$	284,236
State and municipal			1,078,388						543						(167,301)						911,630						(21)						1,078,367
Federal agency collateralized mortgage obligations			49,913						—						(8,088)						41,825						—						49,913
Federal agency mortgage-backed pools			319,181						—						(50,329)						268,852						—						319,181
Private labeled mortgage-backed pools			31,712						—						(4,530)						27,182						(7)						31,705
Corporate notes			162,453						—						(25,126)						137,327						(130)						162,323
Total held to maturity investment securities			$	1,925,883					$	543					$	(298,573)					$	1,627,853					$	(158)					$	1,925,725

			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

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 March 31, 2024 and December 31, 2023, 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.

			March 31, 2024												December 31, 2023
			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Available for sale
Within one year			$	4,511					$	4,451					$	5,505					$	5,408
One to five years			105,444						93,731						100,301						89,650
Five to ten years			175,871						146,861						167,764						141,203
After ten years			180,974						153,684						195,984						170,113
			466,800						398,727						469,554						406,374
Federal agency collateralized mortgage obligations			3,819						3,450						3,931						3,580
Federal agency mortgage–backed pools			157,812						133,142						161,130						137,297
Total available for sale investment securities			$	628,431					$	535,319					$	634,615					$	547,251
Held to maturity
Within one year			$	31,450					$	31,092					$	33,483					$	33,169
One to five years			220,119						209,813						225,957						216,354
Five to ten years			357,690						307,839						350,843						304,067
After ten years			915,818						741,250						928,209						768,927
			1,525,077						1,289,994						1,538,492						1,322,517
Federal agency collateralized mortgage obligations			49,913						41,825						51,325						43,479
Federal agency mortgage–backed pools			319,181						268,852						323,649						275,028
Private labeled mortgage–backed pools			31,712						27,182						32,329						27,734
Total held to maturity investment securities			$	1,925,883					$	1,627,853					$	1,945,795					$	1,668,758

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

The following tables show 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.

			March 31, 2024
			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			$	—					$	—					$	62,926					$	(9,017)					$	62,926					$	(9,017)
State and municipal			2,356						(267)						296,899						(53,216)						299,255						(53,483)
Federal agency collateralized mortgage obligations			—						—						3,450						(369)						3,450						(369)
Federal agency mortgage–backed pools			—						—						133,142						(24,670)						133,142						(24,670)
Corporate notes			—						—						36,547						(5,573)						36,547						(5,573)
Total temporarily impaired securities			$	2,356					$	(267)					$	532,964					$	(92,845)					$	535,320					$	(93,112)

			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 temporarily impaired securities			$	2,387					$	(236)					$	543,248					$	(87,583)					$	545,635					$	(87,819)

Schedule of Sales of Securities Available for Sale

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

									Three Months Ended
									March 31
															2024						2023
Sales of securities available for sale
Proceeds															$	—					$	63,526
Gross gains															—						129
Gross losses															—						(629)

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