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SECURITIES (Tables)

6 Months Ended

Jun. 30, 2022

SECURITIES

Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses


June 30, 2022		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. Treasury		$	169,930		$	—		$	(10,725)		$	159,205
U.S. government agency			60,373			—			(2,156)			58,217
Municipal			286,012			190			(25,661)			260,541
Mortgage-backed:
Agency residential			236,516			152			(11,626)			225,042
Agency commercial			160,576			15			(11,355)			149,236
Corporate			74,345			215			(2,095)			72,465
Total available-for-sale			987,752			572			(63,618)			924,706
Held-to-maturity:
U.S. government agency			88,413			—			(5,364)			83,049
Municipal			40,920			376			(66)			41,230
Mortgage-backed:
Agency residential			108,711			276			(1,971)			107,016
Agency commercial			310,192			45			(31,380)			278,857
Total held-to-maturity			548,236			697			(38,781)			510,152
Total debt securities		$	1,535,988		$	1,269		$	(102,399)		$	1,434,858


December 31, 2021		Amortized Cost			Gross Unrealized Gains			Gross Unrealized Losses			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. Treasury		$	109,002		$	328		$	(354)		$	108,976
U.S. government agency			129,269			1,303			(2,467)			128,105
Municipal			293,837			6,144			(2,904)			297,077
Mortgage-backed:
Agency residential			178,236			2,149			(919)			179,466
Agency commercial			164,875			1,234			(2,048)			164,061
Corporate			63,141			1,638			(296)			64,483
Total available-for-sale			938,360			12,796			(8,988)			942,168
Held-to-maturity:
U.S. government agency			12,349			42			(51)			12,340
Municipal			15,666			809			—			16,475
Mortgage-backed:
Agency residential			20,555			196			(102)			20,649
Agency commercial			287,615			1,749			(2,801)			286,563
Total held-to-maturity			336,185			2,796			(2,954)			336,027
Total debt securities		$	1,274,545		$	15,592		$	(11,942)		$	1,278,195

Schedule of certain debt securities from the available-for-sale category to the held-to-maturity category


		March 31, 2022						June 30, 2021						March 31, 2021
		Amortized						Amortized						Amortized
		Cost			Fair Value			Cost			Fair Value			Cost			Fair Value

		(dollars in thousands)
U.S. government agency		$	78,841		$	71,048		$	—		$	—		$	7,593		$	7,323
Mortgage-backed:
Agency residential			8,175			7,651			—			—			8,776			8,536
Agency commercial			27,834			25,432			99,271			99,275			118,792			113,861
Total		$	114,850		$	104,131		$	99,271		$	99,275		$	135,161		$	129,720

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


		Available-for-Sale						Held-to-Maturity
		Amortized Cost			Fair Value			Amortized Cost			Fair Value

		(dollars in thousands)
Due in 1 year or less		$	29,520		$	29,517		$	2,140		$	2,159
Due after 1 year through 5 years			209,572			202,398			26,318			26,058
Due after 5 years through 10 years			272,306			247,656			77,431			73,997
Due after 10 years			79,262			70,857			23,444			22,065

Mortgage-backed:
Agency residential			236,516			225,042			108,711			107,016
Agency commercial			160,576			149,236			310,192			278,857
Total		$	987,752		$	924,706		$	548,236		$	510,152

Schedule of gross unrealized losses and fair value of investments


		Investments in a Continuous Unrealized Loss Position
		Less than 12 Months						12 Months or More						Total
June 30, 2022		Unrealized Loss			Fair Value			Unrealized Loss			Fair Value			Unrealized Loss			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. Treasury		$	(10,725)		$	159,205		$	—		$	—		$	(10,725)		$	159,205
U.S. government agency			(2,156)			58,197			—			—			(2,156)			58,197
Municipal			(15,751)			176,771			(9,910)			50,424			(25,661)			227,195
Mortgage-backed:
Agency residential			(11,320)			203,603			(306)			4,556			(11,626)			208,159
Agency commercial			(8,812)			114,025			(2,543)			22,685			(11,355)			136,710
Corporate			(1,085)			46,792			(1,010)			3,952			(2,095)			50,744
Total available-for-sale			(49,849)			758,593			(13,769)			81,617			(63,618)			840,210
Held-to-maturity:
U.S. government agency			(2,564)			40,773			(2,800)			42,276			(5,364)			83,049
Municipal			(66)			6,513			—			—			(66)			6,513
Mortgage-backed:
Agency residential			(1,971)			74,978			—			—			(1,971)			74,978
Agency commercial			(31,078)			274,153			(302)			2,238			(31,380)			276,391
Total held-to-maturity			(35,679)			396,417			(3,102)			44,514			(38,781)			440,931
Total debt securities		$	(85,528)		$	1,155,010		$	(16,871)		$	126,131		$	(102,399)		$	1,281,141


		Investments in a Continuous Unrealized Loss Position
		Less than 12 Months						12 Months or More						Total
December 31, 2021		Unrealized Loss			Fair Value			Unrealized Loss			Fair Value			Unrealized Loss			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. Treasury		$	(354)		$	68,410		$	—		$	—		$	(354)		$	68,410
U.S. government agency			(2,183)			80,219			(284)			5,578			(2,467)			85,797
Municipal			(2,018)			89,424			(886)			17,327			(2,904)			106,751
Mortgage-backed:
Agency residential			(851)			91,703			(68)			4,305			(919)			96,008
Agency commercial			(1,921)			113,111			(127)			6,443			(2,048)			119,554
Corporate			(7)			2,737			(289)			4,671			(296)			7,408
Total available-for-sale			(7,334)			445,604			(1,654)			38,324			(8,988)			483,928
Held-to-maturity:
U.S. government agency			(51)			4,949			—			—			(51)			4,949
Mortgage-backed:
Agency residential			(102)			14,932			—			—			(102)			14,932
Agency commercial			(2,673)			174,428			(128)			2,776			(2,801)			177,204
Total held-to-maturity			(2,826)			194,309			(128)			2,776			(2,954)			197,085
Total debt securities		$	(10,160)		$	639,913		$	(1,782)		$	41,100		$	(11,942)		$	681,013

Schedule of equity securities with initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses


		Readily			No Readily
		Determinable			Determinable
June 30, 2022		Fair Value			Fair Value

		(dollars in thousands)
Initial cost		$	3,142		$	2,117
Cumulative net unrealized gains (losses)			(39)			(165)
Carrying value		$	3,103		$	1,952


		Readily			No Readily
		Determinable			Determinable
December 31, 2021		Fair Value			Fair Value

		(dollars in thousands)
Initial cost		$	3,142		$	2,092
Cumulative net unrealized gains (losses)			301			(165)
Carrying value		$	3,443		$	1,927

Schedule of unrealized gains (losses) on equity securities


		Three Months Ended June 30,						Six Months Ended June 30,
		2022			2021			2022			2021

		(dollars in thousands)
Readily determinable fair value		$	(153)		$	6		$	(340)		$	46
No readily determinable fair value			—			—			—			—
Unrealized gains (losses) on equity securities		$	(153)		$	6		$	(340)		$	46