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SECURITIES (Tables)

9 Months Ended

Sep. 30, 2022

SECURITIES

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


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

Available-for-sale:		(dollars in thousands)
U.S. Treasury		$	169,895		$	—		$	(16,323)		$	153,572
U.S. government agency			61,428			1			(4,406)			57,023
Municipal			279,711			4			(37,804)			241,911
Mortgage-backed:
Agency residential			223,738			20			(18,851)			204,907
Agency commercial			154,677			1			(17,302)			137,376
Corporate			62,695			16			(3,760)			58,951
Total available-for-sale			952,144			42			(98,446)			853,740
Held-to-maturity:
U.S. government agency			88,418			—			(10,342)			78,076
Municipal			42,844			50			(1,357)			41,537
Mortgage-backed:
Agency residential			105,330			—			(6,491)			98,839
Agency commercial			310,102			—			(46,862)			263,240
Total held-to-maturity			546,694			50			(65,052)			481,692
Total debt securities		$	1,498,838		$	92		$	(163,498)		$	1,335,432


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		$	12,575		$	12,506		$	2,492		$	2,494
Due after 1 year through 5 years			235,438			220,181			25,934			24,801
Due after 5 years through 10 years			250,903			216,108			79,440			71,686
Due after 10 years			74,813			62,662			23,396			20,632

Mortgage-backed:
Agency residential			223,738			204,907			105,330			98,839
Agency commercial			154,677			137,376			310,102			263,240
Total		$	952,144		$	853,740		$	546,694		$	481,692

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
September 30, 2022		Unrealized Loss			Fair Value			Unrealized Loss			Fair Value			Unrealized Loss			Fair Value

Available-for-sale:		(dollars in thousands)
U.S. Treasury		$	(15,245)		$	144,691		$	(1,078)		$	8,881		$	(16,323)		$	153,572
U.S. government agency			(3,831)			51,799			(575)			3,394			(4,406)			55,193
Municipal			(16,557)			157,183			(21,247)			82,613			(37,804)			239,796
Mortgage-backed:
Agency residential			(15,072)			176,467			(3,779)			24,808			(18,851)			201,275
Agency commercial			(9,292)			89,378			(8,010)			45,474			(17,302)			134,852
Corporate			(2,527)			53,213			(1,233)			3,730			(3,760)			56,943
Total available-for-sale			(62,524)			672,731			(35,922)			168,900			(98,446)			841,631
Held-to-maturity:
U.S. government agency			(2,316)			20,176			(8,026)			57,900			(10,342)			78,076
Municipal			(1,357)			35,066			—			—			(1,357)			35,066
Mortgage-backed:
Agency residential			(6,320)			97,876			(171)			963			(6,491)			98,839
Agency commercial			(24,304)			150,113			(22,558)			113,127			(46,862)			263,240
Total held-to-maturity			(34,297)			303,231			(30,755)			171,990			(65,052)			475,221
Total debt securities		$	(96,821)		$	975,962		$	(66,677)		$	340,890		$	(163,498)		$	1,316,852


		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
September 30, 2022		Fair Value			Fair Value

		(dollars in thousands)
Initial cost		$	3,142		$	2,142
Cumulative net unrealized losses			(146)			(165)
Carrying value		$	2,996		$	1,977


		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 September 30,						Nine Months Ended September 30,
		2022			2021			2022			2021

		(dollars in thousands)
Readily determinable fair value		$	(107)		$	28		$	(447)		$	74
No readily determinable fair value			—			—			—			—
Unrealized gains (losses) on equity securities		$	(107)		$	28		$	(447)		$	74