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INVESTMENT SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Summary of Amortized Cost and Fair Value and Corresponding Amounts of Gross Unrealized Gains and Losses | The following table summarizes amortized cost and fair value of AFS securities, and the corresponding amounts of gross unrealized gains and losses recognized in AOCI at December 31, 2021 and 2020.
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
December 31, 2021 |  |  |  |  |  |  |
U.S. Treasury securities | $ | 20,084 |  |  | $ | — |  |  | $ | 382 |  |  | $ | 19,702 |
States and political subdivisions | 185,437 |  |  | 8,606 |  |  | 673 |  |  | 193,370 |
GSE residential MBSs | 41,260 |  |  | 44 |  |  | 578 |  |  | 40,726 |
GSE residential CMOs | 66,430 |  |  | 436 |  |  | 944 |  |  | 65,922 |
Non-agency CMOs | 30,676 |  |  | — |  |  | 978 |  |  | 29,698 |
Asset-backed | 122,520 |  |  | 401 |  |  | 300 |  |  | 122,621 |
Other | 399 |  |  | — |  |  | — |  |  | 399 |
Totals | $ | 466,806 |  |  | $ | 9,487 |  |  | $ | 3,855 |  |  | $ | 472,438 |
December 31, 2020 |  |  |  |  |  |  |
States and political subdivisions | $ | 104,704 |  |  | $ | 9,091 |  |  | $ | 1,125 |  |  | $ | 112,670 |
GSE residential MBSs | 4,197 |  |  | 96 |  |  | 0 |  |  | 4,293 |
GSE residential CMOs | 56,856 |  |  | 2,226 |  |  | 1,071 |  |  | 58,011 |
Non-agency CMOs | 16,505 |  |  | 413 |  |  | — |  |  | 16,918 |
Private label commercial CMOs | 63,941 |  |  | 57 |  |  | 1,762 |  |  | 62,236 |
Asset-backed | 214,425 |  |  | 171 |  |  | 2,630 |  |  | 211,966 |
Other | 371 |  |  | — |  |  | — |  |  | 371 |
Totals | $ | 460,999 |  |  | $ | 12,054 |  |  | $ | 6,588 |  |  | $ | 466,465 |
Summary of Securities Available For Sale With Unrealized Losses | The following table summarizes investment securities with unrealized losses at December 31, 2021 and 2020, aggregated by major security type and length of time in a continuous unrealized loss position.
| Less Than 12 Months |  | 12 Months or More |  | Total
| # of Securities |  | Fair Value |  | Unrealized Losses |  | # of Securities |  | Fair Value |  | Unrealized Losses |  | # of Securities |  | Fair Value |  | Unrealized Losses
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | 3 |  |  | $ | 19,702 |  |  | $ | 382 |  |  | — |  |  | $ | — |  |  | $ | — |  |  | 3 |  |  | $ | 19,702 |  |  | $ | 382 |
States and political subdivisions | 12 |  |  | 45,522 |  |  | 673 |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | 45,522 |  |  | 673 |
GSE residential MBSs | 9 |  |  | 37,899 |  |  | 578 |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 37,899 |  |  | 578 |
GSE residential CMOs | 7 |  |  | 41,163 |  |  | 944 |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 41,163 |  |  | 944 |
Non-agency CMOs | 3 |  |  | 24,661 |  |  | 978 |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 24,661 |  |  | 978 |
Asset-backed | 3 |  |  | 21,245 |  |  | 138 |  |  | 3 |  |  | 34,180 |  |  | 162 |  |  | 6 |  |  | 55,425 |  |  | 300 |
Totals | 37 |  |  | $ | 190,192 |  |  | $ | 3,693 |  |  | 3 |  |  | $ | 34,180 |  |  | $ | 162 |  |  | 40 |  |  | $ | 224,372 |  |  | $ | 3,855 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions | 1 |  |  | $ | 9,079 |  |  | $ | 1,125 |  |  | — |  |  | $ | — |  |  | $ | — |  |  | 1 |  |  | $ | 9,079 |  |  | $ | 1,125 |
GSE residential CMOs | 3 |  |  | 23,954 |  |  | 1,071 |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 23,954 |  |  | 1,071 |
Private label commercial CMOs | 1 |  |  | 4,314 |  |  | 685 |  |  | 10 |  |  | 42,403 |  |  | 1,077 |  |  | 11 |  |  | 46,717 |  |  | 1,762 |
Asset-backed | 2 |  |  | 16,921 |  |  | 12 |  |  | 15 |  |  | 183,161 |  |  | 2,618 |  |  | 17 |  |  | 200,082 |  |  | 2,630 |
Totals | 7 |  |  | $ | 54,268 |  |  | $ | 2,893 |  |  | 25 |  |  | $ | 225,564 |  |  | $ | 3,695 |  |  | 32 |  |  | $ | 279,832 |  |  | $ | 6,588 |
Summary of Amortized Cost and Fair Value by Contractual Maturity | The following table summarizes amortized cost and fair value of investment securities by contractual maturity at December 31, 2021. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
| Amortized Cost |  | Fair Value
Due in one year or less | $ | — |  |  | $ | — |
Due after one year through five years | 3,382 |  |  | 3,718 |
Due after five years through ten years | 78,759 |  |  | 79,801 |
Due after ten years | 123,779 |  |  | 129,952 |
CMOs and MBSs | 138,366 |  |  | 136,346 |
Asset-backed | 122,520 |  |  | 122,621 |
| $ | 466,806 |  |  | $ | 472,438 |
Summary of Proceeds from Sale of Available for Sale Securities | The following table summarizes proceeds from sales of investment securities and gross gains and gross losses for the years ended December 31, 2021, 2020 and 2019.
| 2021 |  | 2020 |  | 2019
Proceeds from sale of investment securities | $ | 149,038 |  |  | $ | — |  |  | $ | 199,429 |
Gross gains | 1,847 |  |  | — |  |  | 4,974 |
Gross losses | 1,209 |  |  | 16 |  |  | 225 |

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
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