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INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Values of AFS Securities

At June 30, 2022 and December 31, 2021, all investment securities were classified as AFS. The following table summarizes amortized cost and fair value of investment securities, and the corresponding amounts of gross unrealized gains and losses recognized in AOCI, at June 30, 2022 and December 31, 2021:

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
June 30, 2022
U.S. Treasury securities			$	20,077					$	—					$	2,108					$	17,969
States and political subdivisions			255,144						768						22,385						233,527
GSE residential MBSs			65,370						—						3,812						61,558
GSE residential CMOs			73,881						217						4,407						69,691
Non-agency CMOs			21,993						3						1,298						20,698
Asset-backed			113,012						—						4,156						108,856
Other			399						—						—						399
Totals			$	549,876					$	988					$	38,166					$	512,698
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

Summary of AFS Securities with Unrealized Losses

The following table summarizes investment securities with unrealized losses at June 30, 2022 and December 31, 2021, aggregated by major investment security type and the 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
June 30, 2022
U.S. Treasury securities			3						$	17,969					$	2,108					—						$	—					$	—					3						$	17,969					$	2,108
States and political subdivisions			35						186,442						22,385						—						—						—						35						186,442						22,385
GSE residential MBSs			15						61,558						3,812						—						—						—						15						61,558						3,812
GSE residential CMOs			8						45,599						3,245						5						18,803						1,162						13						64,402						4,407
Non-agency CMOs			3						16,222						1,298						—						—						—						3						16,222						1,298
Asset-backed			13						79,365						3,168						3						29,491						988						16						108,856						4,156
Totals			77						$	407,155					$	36,016					8						$	48,294					$	2,150					85						$	455,449					$	38,166
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

Schedule of Amortized Cost and Fair Values of AFS Securities by Contractual Maturity

The following table summarizes amortized cost and fair value of investment securities by contractual maturity at June 30, 2022. 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			$	249					$	249
Due after one year through five years			3,122						3,191
Due after five years through ten years			85,322						79,065
Due after ten years			186,927						169,390
CMOs and MBSs			161,244						151,947
Asset-backed			113,012						108,856
Totals			$	549,876					$	512,698

Proceeds From Sale of AFS Securities and Gross Gains and Gross Losses

The following table summarizes proceeds from sales of investment securities and gross gains and gross losses for the three and six months ended June 30, 2022 and 2021:

			Three months ended June 30,												Six months ended June 30,
			2022						2021						2022						2021
Proceeds from sale of investment securities			$	—					$	—					$	3,075					$	75,719
Gross gains			—						11						25						1,362
Gross losses			3						—						3						1,206

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Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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-Publisher FASB
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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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