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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021.

			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
December 31, 2022
U.S. Treasury securities			$	20,070					$	—					$	2,779					$	17,291
U.S. government agencies			4,907						228						—						5,135
States and political subdivisions			225,825						19						28,430						197,414
GSE residential MBSs			63,778						—						4,376						59,402
GSE residential CMOs			75,446						—						7,068						68,378
Non-agency CMOs			42,298						243						2,783						39,758
Asset-backed			130,577						—						4,604						125,973
Other			377						—						—						377
Totals			$	563,278					$	490					$	50,040					$	513,728
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 Securities Available For Sale With Unrealized Losses

The following table summarizes investment securities with unrealized losses at December 31, 2022 and 2021, 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, 2022
U.S. Treasury securities			—						$	—					$	—					3						$	17,291					$	2,779					3						$	17,291					$	2,779
States and political subdivisions			29						135,579						13,809						17						60,102						14,621						46						195,681						28,430
GSE residential MBSs			5						26,100						925						10						33,302						3,451						15						59,402						4,376
GSE residential CMOs			8						28,732						1,884						9						39,646						5,184						17						68,378						7,068
Non-agency CMOs			4						26,555						1,135						2						8,639						1,648						6						35,194						2,783
Asset-backed			17						78,873						2,432						5						47,100						2,172						22						125,973						4,604
Totals			63						$	295,839					$	20,185					46						$	206,080					$	29,855					109						$	501,919					$	50,040
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

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, 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			6,403						6,043
Due after five years through ten years			83,348						72,161
Due after ten years			161,179						141,764
CMOs and MBSs			181,522						167,538
Asset-backed			130,577						125,973
			$	563,278					$	513,728

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, 2022, 2021 and 2020.

			2022						2021						2020
Proceeds from sale of investment securities			$	31,330					$	149,038					$	—
Gross gains			35						1,847						—
Gross losses			25						1,209						16

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- Definition

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

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
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-Section 50
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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).

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