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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities

A summary of our available-for-sale investment securities as of December 31, 2021 and 2020 are as follows:

(Dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
December 31, 2021
Available-for-Sale:
Debt securities:
States and political subdivisions			$	235,521					$	3,156					$	(1,849)					$	236,828
Corporate securities			41,687						24						(1,065)						40,646
U.S. Treasury obligations and direct obligations of U.S Government agencies			35,833						69						(568)						35,334
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")			1,213,910						4,899						(19,993)						1,198,816
Residential - Non-government sponsored entities ("Non-GSEs")			11,942						335						(64)						12,213
Commercial - U.S. GSEs and agencies			66,287						756						(1,194)						65,849
Commercial - Non-GSEs			41,328						685						—						42,013
Total available-for-sale investment securities			$	1,646,508					$	9,924					$	(24,733)					$	1,631,699
Equity securities			$	—					$	—					$	—					$	—

(Dollars in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
December 31, 2020
Available-for-Sale:
Debt securities:
States and political subdivisions			$	163,573					$	5,370					$	(177)					$	168,766
Corporate securities			47,351						788						(131)						48,008
U.S. Treasury obligations and direct obligations of U.S Government agencies			33,413						18						(286)						33,145
Mortgage-backed securities:
Residential - U.S. GSEs			762,309						16,816						(299)						778,826
Residential - Non-GSEs			22,671						786						(34)						23,423
Commercial - U.S. GSEs and agencies			85,405						2,564						(500)						87,469
Commercial - Non-GSEs			41,309						1,663						—						42,972
Total available-for-sale investment securities			$	1,156,031					$	28,005					$	(1,427)					$	1,182,609
Equity securities			$	1,068					$	283					$	—					$	1,351

Amortized Cost and Fair Value of Equity Investment Securities

The amortized cost and fair value of our equity investment securities is as follows:

(Dollars in thousands)			Amortized Cost						Fair Value
December 31, 2021
Equity securities			$	—					$	—
December 31, 2020
Equity securities			1,068						1,351

Schedule of amortized cost and estimated fair value of investment securities by contractual maturity

The amortized cost and estimated fair value of our investment securities at December 31, 2021 by contractual maturity are shown below. Actual maturities may differ from contractual maturities as issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

			December 31, 2021
(Dollars in thousands)			Amortized Cost						Fair Value
Available-for-Sale:
Due in one year or less			$	18,958					$	19,002
Due after one year through five years			21,579						22,190
Due after five years through ten years			84,715						84,411
Due after ten years			187,789						187,205
Mortgage-backed securities
Residential - U.S. GSEs			1,213,910						1,198,816
Residential - Non-GSEs			11,942						12,213
Commercial - U.S. GSEs and agencies			66,287						65,849
Commercial - Non-GSEs			41,328						42,013
Total available-for-sale investment securities			$	1,646,508					$	1,631,699
Equity securities			$	—					$	—

Schedule of investment securities in an unrealized loss position

The following table summarizes securities which were in an unrealized or unrecognized loss position at

December 31, 2021 and 2020, aggregated by major security type and length of time in a continuous unrealized or unrecognized loss position:

			Less Than 12 Months												12 Months or Longer												Total
Description of Securities			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
			(Dollars in thousands)
December 31, 2021
Debt securities:
States and political subdivisions			$	79,360					$	(1,252)					$	10,864					$	(597)					$	90,224					$	(1,849)
Corporate securities			8,633						(235)						21,960						(830)						30,593						(1,065)
U.S. Treasury obligations and direct obligations of U.S Government agencies			16,103						(415)						10,891						(153)						26,994						(568)
Mortgage-backed securities:
Residential - U.S. GSEs			926,570						(15,883)						114,747						(4,110)						1,041,317						(19,993)
Residential - Non-GSEs			—						—						938						(64)						938						(64)
Commercial - U.S. GSEs and agencies			6,313						(205)						16,281						(989)						22,594						(1,194)
Total temporarily impaired securities			$	1,036,979					$	(17,990)					$	175,681					$	(6,743)					$	1,212,660					$	(24,733)

			Less Than 12 Months												12 Months or Longer												Total
Description of Securities			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
			(Dollars in thousands)
December 31, 2020
Debt securities:
States and political subdivisions			$	21,313					$	(177)					$	—					$	—					$	21,313					$	(177)
U.S. Treasury obligations and direct obligations of U.S Government agencies			5,980						(24)						20,925						(262)						26,905						(286)
Mortgage-backed securities:
Residential - U.S. GSEs			76,402						(299)						—						—						76,402						(299)
Residential - Non-GSEs			989						(34)						—						—						989						(34)
Commercial - U.S. GSEs and agencies			16,977						(500)						—						—						16,977						(500)
Total temporarily impaired securities			$	126,530					$	(1,165)					$	20,925					$	(262)					$	147,455					$	(1,427)

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