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SECURITIES AVAILABLE FOR SALE (Tables)

9 Months Ended

Sep. 30, 2022

SECURITIES AVAILABLE FOR SALE

Summary of Securities Available for Sale


					Gross			Gross
					Unrealized			Unrealized
(in thousands)		Amortized Cost			Gains			Losses			Fair Value
September 30, 2022
Mortgage-backed securities:
US Government-sponsored enterprises		$	252,369		$	4		$	(36,349)		$	216,024
US Government agency			93,643			11			(10,128)			83,526
Private label			72,484			34			(5,749)			66,769
Obligations of states and political subdivisions thereof			123,350			9,205			(27,903)			104,652
Corporate bonds			91,512			26			(5,757)			85,781
Total securities available for sale		$	633,358		$	9,280		$	(85,886)		$	556,752


					Gross			Gross
					Unrealized			Unrealized
(in thousands)		Amortized Cost			Gains			Losses			Fair Value
December 31, 2021
Mortgage-backed securities:
US Government-sponsored enterprises		$	237,283		$	2,289		$	(3,455)		$	236,117
US Government agency			79,143			1,016			(522)			79,637
Private label			68,691			142			(138)			68,695
Obligations of states and political subdivisions thereof			140,585			1,489			(298)			141,776
Corporate bonds			89,994			2,479			(422)			92,051
Total securities available for sale		$	615,696		$	7,415		$	(4,835)		$	618,276

Schedule of Amortized Cost and Estimated Fair Value of Available for Sale (AFS) Securities, Segregated by Contractual Maturity


		Available for sale
(in thousands)		Amortized Cost			Fair Value
Within 1 year		$	195		$	196
Over 1 year to 5 years			30,292			28,426
Over 5 years to 10 years			49,666			55,025
Over 10 years			134,709			106,786
Total bonds and obligations			214,862			190,433
Mortgage-backed securities			418,496			366,319
Total securities available for sale		$	633,358		$	556,752

Schedule of Gains and Losses from Sale of AFS Securities


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(in thousands)		2022			2021			2022			2021
Gross gains on sales of available for sale securities		$	142		$	1,980		$	151		$	2,030
Gross losses on sales of available for sale securities			(98)			(50)			(98)			(50)
Net gains on sale of available for sale securities		$	44		$	1,930		$	53		$	1,980

Schedule of Securities with Unrealized Losses, Segregated by the Duration of Continuous Unrealized Loss Positions


		Less Than Twelve Months						Over Twelve Months						Total
		Gross						Gross						Gross
		Unrealized			Fair			Unrealized			Fair			Unrealized			Fair
(in thousands)		Losses			Value			Losses			Value			Losses			Value
September 30, 2022
Mortgage-backed securities:
US Government-sponsored enterprises		$	18,262		$	139,219		$	18,087		$	76,291		$	36,349		$	215,510
US Government agency			6,591			64,575			3,537			17,021			10,128			81,596
Private label			3,466			35,740			2,283			30,994			5,749			66,734
Obligations of states and political subdivisions thereof			20,425			78,085			7,478			21,373			27,903			99,458
Corporate bonds			3,770			65,251			1,987			16,763			5,757			82,014
Total securities available for sale		$	52,514		$	382,870		$	33,372		$	162,442		$	85,886		$	545,312


		Less Than Twelve Months						Over Twelve Months						Total
		Gross						Gross						Gross
		Unrealized			Fair			Unrealized			Fair			Unrealized			Fair
(in thousands)		Losses			Value			Losses			Value			Losses			Value
December 31, 2021
Mortgage-backed securities:
US Government-sponsored enterprises		$	1,589		$	127,780		$	1,866		$	39,717		$	3,455		$	167,497
US Government agency			381			32,628			141			4,548			522			37,176
Private label			133			44,372			5			16			138			44,388
Obligations of states and political subdivisions thereof			187			36,878			111			6,129			298			43,007
Corporate bonds			94			21,358			328			11,922			422			33,280
Total securities available for sale		$	2,384		$	263,016		$	2,451		$	62,332		$	4,835		$	325,348