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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2023 and 2022.
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
December 31, 2023
U.S. Treasury securities$20,057 $— $2,217 $— $17,840 
U.S. government agencies3,994 157 — — 4,151 
States and political subdivisions221,624 28 18,530 — 203,122 
GSE residential MBSs61,669 — 4,037 — 57,632 
GSE commercial MBSs4,387 356 — — 4,743 
GSE residential CMOs
79,284 18 6,200 — 73,102 
Non-agency CMOs48,162 316 3,809 — 44,669 
Asset-backed109,786 442 2,094 — 108,134 
Other126 — — — 126 
Totals$549,089 $1,317 $36,887 $— $513,519 
December 31, 2022
U.S. Treasury securities$20,070 $— $2,779 n/a$17,291 
U.S. government agencies
4,907 228 — n/a5,135 
States and political subdivisions225,825 19 28,430 n/a197,414 
GSE residential MBSs63,778 — 4376 n/a59,402 
GSE residential CMOs
75,446 — 7,068 n/a68,378 
Non-agency CMOs42,298 243 2,783 n/a39,758 
Asset-backed130,577 — 4,604 n/a125,973 
Other377 — — n/a377 
Totals$563,278 $490 $50,040 n/a$513,728 
Summary of Securities Available For Sale With Unrealized Losses
The following table summarizes investment securities with unrealized losses at December 31, 2023 and 2022, aggregated by major security type and length of time in a continuous unrealized loss position.
 Less Than 12 Months12 Months or MoreTotal
# of Securities
Fair
Value
Unrealized
Losses
# of Securities
Fair
Value
Unrealized
Losses
# of Securities
Fair
Value
Unrealized
Losses
December 31, 2023
U.S. Treasury securities— $— $— 3 $17,840 $2,217 3 $17,840 $2,217 
States and political subdivisions4 2,419 53 40 199,933 18,477 44 202,352 18,530 
GSE residential MBSs— — — 15 57,632 4,037 15 57,632 4,037 
GSE residential CMOs4 12,710 186 14 56,765 6,014 18 69,475 6,200 
Non-agency CMOs3 11,531 83 4 16,334 3,726 7 27,865 3,809 
Asset-backed1 865 4 15 74,407 2,090 16 75,272 2,094 
Totals
12 $27,525 $326 91 $422,911 $36,561 103 $450,436 $36,887 
December 31, 2022
U.S. Treasury securities— $0 $0 3 $17,291 $2,779 3 $17,291 $2,779 
States and political subdivisions29 135,579 13,809 17 60,102 14,621 46 195,681 28,430 
GSE residential MBSs5 26,100 925 10 33302 3451 15 59,402 4376 
GSE residential CMOs8 28,732 1,884 9 39,646 5,184 17 68,378 7,068 
Non-agency CMOs4 26,555 1,135 2 8,639 1,648 6 35,194 2,783 
Asset-backed17 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 $50,040 
Summary of Amortized Cost and Fair Value by Contractual Maturity
The following table summarizes amortized cost and fair value of investment securities by contractual maturity at December 31, 2023. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Amortized CostFair Value
Due in one year or less$— $— 
Due after one year through five years31,419 28,368 
Due after five years through ten years56,449 51,231 
Due after ten years157,933 145,640 
CMOs and MBSs193,502 180,146 
Asset-backed109,786 108,134 
$549,089 $513,519 
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, 2023, 2022 and 2021.
202320222021
Proceeds from sale of investment securities$22,006 $31,330 $149,038 
Gross gains8 35 1,847 
Gross losses55 25 1,209