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SECURITIES (Tables)
 6 Months Ended
Jun. 30, 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:
June 30, 2024
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$139,693$—$(10,918)$—$128,775
U.S. government agency57,308—(3,319)—53,989
Municipal155,980—(21,852)—134,128
Mortgage-backed:
Agency residential191,521147(14,946)—176,722
Agency commercial136,3672(14,153)—122,216
Corporate57,698—(4,473)—53,225
Total available-for-sale$738,567$149$(69,661)$—$669,055
June 30, 2024
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,460$—$(9,223)$79,237$—
Municipal36,95038(601)36,387—
Mortgage-backed:
Agency residential90,992—(6,689)84,303—
Agency commercial296,147—(42,321)253,826—
Total held-to-maturity$512,549$38$(58,834)$453,753$—
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 June 30, 2024 and December 31, 2023, aggregated by category and length of time that individual debt securities have been in a continuous unrealized loss position:
June 30, 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$— $— $(10,918)$128,775 $(10,918)$128,775 
U.S. government agency(9)4,728 (3,310)49,254 (3,319)53,982 
Municipal(26)2,627 (21,826)130,726 (21,852)133,353 
Mortgage-backed:
Agency residential(98)11,311 (14,848)146,244 (14,946)157,555 
Agency commercial(4)389 (14,149)120,730 (14,153)121,119 
Corporate— — (4,473)51,231 (4,473)51,231 
Total available-for-sale$(137)$19,055 $(69,524)$626,960 $(69,661)$646,015 
December 31, 2023
Investments in a Continuous Unrealized Loss Position
Less than 12 Months12 Months or MoreTotal
(dollars in thousands)
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Available-for-sale:
U.S. Treasury$— $— $(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 June 30, 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$49,567 $48,554 $5,095 $5,048 
Due after 1 year through 5 years184,436 170,465 49,612 46,628 
Due after 5 years through 10 years154,676 132,777 65,354 59,096 
Due after 10 years22,000 18,321 5,349 4,852 
Mortgage-backed:
Agency residential191,521 176,722 90,992 84,303 
Agency commercial136,367 122,216 296,147 253,826 
Total$738,567 $669,055 $512,549 $453,753 
Schedule of sales of debt securities
Sales of debt securities were as follows during the three and six months ended June 30:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2024202320242023
Proceeds from sales$—$—$66,812$145,844
Gross realized gains————
Gross realized losses——(3,382)(1,007)
Debt securities, trading, and equity securities, FV-NI
The initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses were as follows:
June 30, 2024
(dollars in thousands)Readily
Determinable
Fair Value		No Readily
Determinable
Fair Value
Initial cost$3,124 $2,948 
Cumulative net unrealized gains (losses)104 (335)
Carrying value$3,228 $2,613 
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 $2,505 
Schedule of unrealized gains (losses) on equity securities
Unrealized gains (losses) on equity securities were as follows during the three and six months ended June 30, 2024 and 2023:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2024202320242023
Readily determinable fair value$(96)$7 $(112)$123 
No readily determinable fair value——— (138)
Unrealized gains (losses) on equity securities$(96)$7 $(112)$(15)