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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses
The amortized cost and fair values of debt securities, with gross unrealized gains and losses and allowance for credit losses, are as follows:
March 31, 2024
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$149,697$—$(11,511)$—$138,186
U.S. government agency53,836—(3,377)—50,459
Municipal156,4031(21,756)—134,648
Mortgage-backed:
Agency residential183,55351(15,058)—168,546
Agency commercial138,8732(14,400)—124,475
Corporate57,694—(4,988)—52,706
Total available-for-sale$740,056$54$(71,090)$—$669,020
March 31, 2024
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,454$—$(8,977)$79,477$—
Municipal38,459158(351)38,266—
Mortgage-backed:
Agency residential93,737—(6,497)87,240—
Agency commercial296,822—(43,165)253,657—
Total held-to-maturity$517,472$158$(58,990)$458,640$—
December 31, 2023
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$159,715$—$(11,093)$—$148,622
U.S. government agency55,359—(3,262)—52,097
Municipal229,03026(23,499)—205,557
Mortgage-backed:
Agency residential188,64161(14,718)—173,984
Agency commercial141,2143(14,205)—127,012
Corporate57,6659(5,485)—52,189
Total available-for-sale$831,624$99$(72,262)$—$759,461
December 31, 2023
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,448$—$(8,292)$80,156$—
Municipal38,442394(163)38,673—
Mortgage-backed:
Agency residential95,828—(5,569)90,259—
Agency commercial298,721—(41,313)257,408—
Total held-to-maturity$521,439$394$(55,337)$466,496$—
The following table presents gross unrealized losses and fair value of debt securities available-for-sale that do not have an associated allowance for credit losses as of March 31, 2024 and December 31, 2023, aggregated by category and length of time that individual debt securities have been in a continuous unrealized loss position:
March 31, 2024
Investments in a Continuous Unrealized Loss Position
Less than 12 Months12 Months or MoreTotal
(dollars in thousands)
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Available-for-sale:
U.S. Treasury$— $— $(11,511)$138,186 $(11,511)$138,186 
U.S. government agency— — (3,377)50,432 (3,377)50,432 
Municipal(10)2,648 (21,746)131,224 (21,756)133,872 
Mortgage-backed:
Agency residential(32)7,947 (15,026)155,172 (15,058)163,119 
Agency commercial(10)913 (14,390)123,480 (14,400)124,393 
Corporate(7)1,987 (4,981)50,706 (4,988)52,693 
Total available-for-sale$(59)$13,495 $(71,031)$649,200 $(71,090)$662,695 
December 31, 2023
Investments in a Continuous Unrealized Loss Position
Less than 12 Months12 Months or MoreTotal
(dollars in thousands)
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Available-for-sale:
U.S. Treasury$— $— $(11,093)$148,622 $(11,093)$148,622 
U.S. government agency(2)168 (3,260)51,910 (3,262)52,078 
Municipal(26)4,749 (23,473)194,287 (23,499)199,036 
Mortgage-backed:
Agency residential(163)9,354 (14,555)156,785 (14,718)166,139 
Agency commercial(26)3,016 (14,179)123,404 (14,205)126,420 
Corporate(414)4,361 (5,071)45,826 (5,485)50,187 
Total available-for-sale$(631)$21,648 $(71,631)$720,834 $(72,262)$742,482 
Schedule of amortized cost and fair value of securities by contractual maturity
The amortized cost and fair value of debt securities by contractual maturity, as of March 31, 2024, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)
Amortized
Cost
Fair Value
Amortized
Cost
Fair Value
Due in 1 year or less$46,701 $45,715 $2,791 $2,789 
Due after 1 year through 5 years193,559 179,686 44,748 42,300 
Due after 5 years through 10 years155,271 132,382 73,706 67,434 
Due after 10 years22,099 18,216 5,668 5,220 
Mortgage-backed:
Agency residential183,553 168,546 93,737 87,240 
Agency commercial138,873 124,475 296,822 253,657 
Total$740,056 $669,020 $517,472 $458,640 
Schedule of sales of debt securities
Sales of debt securities were as follows during the three months ended March 31:
Three Months Ended March 31,
(dollars in thousands)20242023
Proceeds from sales$66,812$145,844
Gross realized gains——
Gross realized losses(3,382)(1,007)
Schedule of equity securities with initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses
The initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses are as follows:
March 31, 2024
(dollars in thousands)Readily
Determinable
Fair Value		No Readily
Determinable
Fair Value
Initial cost$3,124 $2,957 
Cumulative net unrealized gains (losses)200 (335)
Carrying value$3,324 $2,622 
December 31, 2023
(dollars in thousands)Readily
Determinable
Fair Value		No Readily
Determinable
Fair Value
Initial cost$3,143 $2,840 
Cumulative net unrealized gains (losses)217 (335)
Carrying value$3,360 $2,505 
Schedule of unrealized gains (losses) on equity securities
Unrealized gains (losses) on equity securities were as follows during the three months ended March 31, 2024 and 2023:
Three Months Ended March 31,
(dollars in thousands)20242023
Readily determinable fair value$(16)$116 
No readily determinable fair value—(138)
Unrealized gains (losses) on equity securities$(16)$(22)