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SECURITIES AVAILABLE FOR SALE (Tables)

3 Months Ended

Mar. 31, 2023

SECURITIES AVAILABLE FOR SALE

Summary of Securities Available for Sale


					Gross			Gross
					Unrealized			Unrealized
(in thousands)		Amortized Cost			Gains			Losses			Fair Value
March 31, 2023
Mortgage-backed securities:
US Government-sponsored enterprises		$	245,482		$	41		$	(31,223)		$	214,300
US Government agency			91,092			43			(10,197)			80,938
Private label			62,101			34			(3,635)			58,500
Obligations of states and political subdivisions thereof			122,686			5,543			(17,064)			111,165
Corporate bonds			101,505			17			(9,385)			92,137
Total securities available for sale		$	622,866		$	5,678		$	(71,504)		$	557,040


					Gross			Gross
					Unrealized			Unrealized
(in thousands)		Amortized Cost			Gains			Losses			Fair Value
December 31, 2022
Mortgage-backed securities:
US Government-sponsored enterprises		$	249,838		$	14		$	(34,825)		$	215,027
US Government agency			93,010			21			(10,765)			82,266
Private label			64,056			34			(3,936)			60,154
Obligations of states and political subdivisions thereof			121,939			7,149			(21,351)			107,737
Corporate bonds			102,505			33			(8,206)			94,332
Total securities available for sale		$	631,348		$	7,251		$	(79,083)		$	559,516

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			37,278			34,483
Over 5 years to 10 years			57,610			57,009
Over 10 years			129,108			111,614
Total bonds and obligations			224,191			203,302
Mortgage-backed securities			398,675			353,738
Total securities available for sale		$	622,866		$	557,040

Schedule of Gains and Losses from Sale of AFS Securities



		Three Months Ended March 31,
(in thousands)		2023			2022
Gross gains on sales of available for sale securities		$	34		$	9
Gross losses on sales of available for sale securities			—			—
Net gains on sale of available for sale securities		$	34		$	9

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
March 31, 2023
Mortgage-backed securities:
US Government-sponsored enterprises		$	1,324		$	35,076		$	29,899		$	174,319		$	31,223		$	209,395
US Government agency			834			22,846			9,363			53,711			10,197			76,557
Private label			5			94			3,630			58,372			3,635			58,466
Obligations of states and political subdivisions thereof			184			9,439			16,880			94,281			17,064			103,720
Corporate bonds			3,877			43,045			5,508			45,992			9,385			89,037
Total securities available for sale		$	6,224		$	110,500		$	65,280		$	426,675		$	71,504		$	537,175


		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, 2022
Mortgage-backed securities:
US Government-sponsored enterprises		$	7,005		$	82,483		$	27,820		$	127,745		$	34,825		$	210,228
US Government agency			2,902			42,865			7,863			34,988			10,765			77,853
Private label			841			15,694			3,095			44,396			3,936			60,090
Obligations of states and political subdivisions thereof			7,990			48,799			13,361			55,702			21,351			104,501
Corporate bonds			4,733			65,279			3,473			25,027			8,206			90,306
Total securities available for sale		$	23,471		$	255,120		$	55,612		$	287,858		$	79,083		$	542,978