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SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
SECURITIES |
Schedule of amortized cost and fair value of investments classified as available-for-sale | The fair value of securities available-for-sale and related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2023
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(Dollar amounts in thousands) | ​ | Cost |  | Gains |  | Losses |  | Fair Value
U.S. Government agencies | ​ | $ | 102,978 | ​ | $ | 4 | ​ | $ | (11,542) | ​ | $ | 91,440
Mortgage Backed Securities - residential | ​ | ​ | 653,507 | ​ | ​ | 53 | ​ | ​ | (83,675) | ​ | ​ | 569,885
Mortgage Backed Securities - commercial |  | ​ | 7,919 |  | ​ | — |  | ​ | (436) |  | ​ | 7,483
Collateralized mortgage obligations |  | ​ | 209,398 |  | ​ | 6 |  | ​ | (28,575) |  | ​ | 180,829
State and municipal obligations |  | ​ | 397,413 |  | ​ | 1,407 |  | ​ | (28,009) |  | ​ | 370,811
Municipal taxable |  | ​ | 39,872 |  | ​ | 12 |  | ​ | (5,599) |  | ​ | 34,285
U.S. Treasury |  | ​ | 1,411 |  | ​ | — |  | ​ | (9) |  | ​ | 1,402
Collateralized debt obligations |  | ​ | — |  | ​ | 3,002 |  | ​ | — |  | ​ | 3,002
TOTAL | ​ | $ | 1,412,498 | ​ | $ | 4,484 | ​ | $ | (157,845) | ​ | $ | 1,259,137
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​
(Dollar amounts in thousands) | ​ | Cost |  | Gains |  | Losses |  | Fair Value
U.S. Government agencies | ​ | $ | 110,226 | ​ | $ | 24 | ​ | $ | (11,777) | ​ | $ | 98,473
Mortgage Backed Securities-residential | ​ | ​ | 711,131 | ​ | ​ | 133 | ​ | ​ | (91,016) | ​ | ​ | 620,248
Mortgage Backed Securities-commercial |  | ​ | 10,103 |  | ​ | — |  | ​ | (426) |  | ​ | 9,677
Collateralized mortgage obligations |  | ​ | 228,344 |  | ​ | 60 |  | ​ | (24,919) |  | ​ | 203,485
State and municipal obligations |  | ​ | 396,522 |  | ​ | 745 |  | ​ | (37,114) |  | ​ | 360,153
Municipal taxable |  | ​ | 39,321 |  | ​ | 41 |  | ​ | (6,847) |  | ​ | 32,515
U.S. Treasury |  | ​ | 2,979 |  | ​ | — |  | ​ | (35) |  | ​ | 2,944
Collateralized debt obligations |  | ​ | — |  | ​ | 2,986 |  | ​ | — |  | ​ | 2,986
TOTAL | ​ | $ | 1,498,626 | ​ | $ | 3,989 | ​ | $ | (172,134) | ​ | $ | 1,330,481
Schedule of gross gain and loss realized | Below is a summary of the gross gains and losses realized by the Corporation on investment sales and calls during the years ended December 31, 2023, 2022 and 2021, respectively. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | ​ | 2023 |  | ​ | 2022 |  | ​ | 2021
Proceeds | ​ | $ | 330 | ​ | $ | 1,565 | ​ | $ | 12,886
Gross gains |  | ​ | 1 |  | ​ | 6 |  | ​ | 274
Gross losses |  | ​ | (2) |  | ​ | (3) |  | ​ | (160)
Schedule of contractual maturities of debt securities | Contractual maturities of debt securities at year-end 2023 were as follows. Securities not due at a single maturity or with no maturity date, primarily mortgage-backed and collateralized mortgage obligations, are shown separately. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Available-for-Sale
​ | ​ | Amortized | ​ | Fair
(Dollar amounts in thousands) |  | Cost |  | Value
Due in one year or less | ​ | $ | 10,464 | ​ | $ | 10,346
Due after one but within five years | ​ | ​ | 41,818 | ​ | ​ | 40,271
Due after five but within ten years |  | ​ | 107,538 |  | ​ | 104,878
Due after ten years |  | ​ | 381,854 |  | ​ | 345,445
​ |  | ​ | 541,674 |  | ​ | 500,940
Mortgage-backed securities and collateralized mortgage obligations |  | ​ | 870,824 |  | ​ | 758,197
TOTAL | ​ | $ | 1,412,498 | ​ | $ | 1,259,137
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position | The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at December 31, 2023 and 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2023
​ | ​ | Less Than 12 Months |  | More Than 12 Months |  | Total
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
(Dollar amounts in thousands) | ​ | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
U.S. Government agencies | ​ | $ | 3,757 | ​ | $ | (73) | ​ | $ | 87,291 | ​ | $ | (11,469) | ​ | $ | 91,048 | ​ | $ | (11,542)
Mortgage Backed Securities - Residential |  | ​ | 3,810 | ​ | ​ | (41) | ​ | ​ | 556,414 | ​ | ​ | (83,634) | ​ | ​ | 560,224 | ​ | ​ | (83,675)
Mortgage Backed Securities - Commercial | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,483 | ​ | ​ | (436) | ​ | ​ | 7,483 | ​ | ​ | (436)
Collateralized mortgage obligations |  | ​ | 12,981 |  | ​ | (303) |  | ​ | 164,871 |  | ​ | (28,272) |  | ​ | 177,852 |  | ​ | (28,575)
State and municipal obligations |  | ​ | 45,154 | ​ | ​ | (319) | ​ | ​ | 212,022 | ​ | ​ | (27,690) | ​ | ​ | 257,176 | ​ | ​ | (28,009)
Municipal taxable |  | ​ | — |  | ​ | — |  | ​ | 31,958 |  | ​ | (5,599) |  | ​ | 31,958 |  | ​ | (5,599)
U.S. Treasury |  | ​ | 1,402 |  | ​ | (9) |  | ​ | — |  | ​ | — |  | ​ | 1,402 |  | ​ | (9)
Total temporarily impaired securities | ​ | $ | 67,104 | ​ | $ | (745) | ​ | $ | 1,060,039 | ​ | $ | (157,100) | ​ | $ | 1,127,143 | ​ | $ | (157,845)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022
​ | ​ | Less Than 12 Months |  | More Than 12 Months |  | Total
​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
(Dollar amounts in thousands) |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
U.S. Government agencies | ​ | $ | 58,462 | ​ | $ | (4,034) | ​ | $ | 38,959 | ​ | $ | (7,743) | ​ | $ | 97,421 | ​ | $ | (11,777)
Mortgage Backed Securities - Residential | ​ | ​ | 234,488 |  | ​ | (19,757) |  | ​ | 379,520 |  | ​ | (71,259) |  | ​ | 614,008 |  | ​ | (91,016)
Mortgage Backed Securities - Commercial | ​ | ​ | 9,677 | ​ | ​ | (426) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,677 | ​ | ​ | (426)
Collateralized mortgage obligations |  | ​ | 135,135 |  | ​ | (11,331) |  | ​ | 63,792 |  | ​ | (13,588) |  | ​ | 198,927 |  | ​ | (24,919)
State and municipal obligations | ​ | ​ | 233,439 |  | ​ | (24,291) |  | ​ | 41,510 |  | ​ | (12,823) |  | ​ | 274,949 |  | ​ | (37,114)
Municipal taxable |  | ​ | 18,637 |  | ​ | (3,706) |  | ​ | 12,837 |  | ​ | (3,141) |  | ​ | 31,474 |  | ​ | (6,847)
U.S. Treasury |  | ​ | 2,944 |  | ​ | (35) |  | ​ | — |  | ​ | — |  | ​ | 2,944 |  | ​ | (35)
Total temporarily impaired securities | ​ | $ | 692,782 | ​ | $ | (63,580) | ​ | $ | 536,618 | ​ | $ | (108,554) | ​ | $ | 1,229,400 | ​ | $ | (172,134)
Schedule of credit losses recognized in earnings | The table below presents a rollforward of the credit losses recognized in earnings for the years presented: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) | ​ | 2023 |  | 2022 |  | ​ | 2021
Beginning balance | ​ | $ | 2,974 | ​ | $ | 2,974 | ​ | $ | 2,974
Reductions for securities called during the period | ​ | ​ | — |  | ​ | — |  | ​ | —
Ending balance | ​ | $ | 2,974 | ​ | $ | 2,974 | ​ | $ | 2,974
​

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