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v3.22.2.2

Investments (Tables) | 9 Months Ended
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Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Investments by contractual maturity |
|  | September 30, 2022
Available-for-Sale Securities |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | — |  |  | $ | — |
After one year through five years |  | — |  |  | — |
After five years through ten years |  | 46,640 |  |  | 38,868 |
After ten years |  | 183,069 |  |  | 152,279 |
|  | 229,709 |  |  | 191,147 |
Investment securities not due at a single maturity date: |  |  |  |
U.S. Government agencies |  | 344 |  |  | 333 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 123,093 |  |  | 115,340 |
Private label mortgage and asset backed securities |  | 419,531 |  |  | 361,480 |
Total available-for-sale |  | $ | 772,677 |  |  | $ | 668,300 |
|  | September 30, 2022
Held-to-Maturity Securities |  | Amortized Cost |  | Estimated Fair Value
Within one year |  | $ | — |  |  | $ | — |
After one year through five years |  | 131 |  |  | 124 |
After five years through ten years |  | 49,810 |  |  | 44,318 |
After ten years |  | 142,034 |  |  | 119,437 |
|  | 191,975 |  |  | 163,879 |
Investment securities not due at a single maturity date: |  |  |  |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 10,350 |  |  | 9,033 |
Private label mortgage and asset backed securities |  | 57,201 |  |  | 51,168 |
Corporate debt securities |  | 45,956 |  |  | 43,363 |
Total held-to-maturity |  | $ | 305,482 |  |  | $ | 267,443 |
Available-for-sale securities reconciliation | The following table sets forth the carrying values and estimated fair values of our investment securities portfolio at the dates indicated (in thousands):
|  | September 30, 2022
Available-for-Sale Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 9,989 |  |  | $ | — |  |  | $ | (1,441) |  |  | $ | 8,548 |
U.S. Government agencies |  | 344 |  |  | — |  |  | (11) |  |  | 333 |
Obligations of states and political subdivisions |  | 219,720 |  |  | 28 |  |  | (37,150) |  |  | 182,598 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 123,093 |  |  | 3 |  |  | (7,756) |  |  | 115,340 |
Private label mortgage and asset backed securities |  | 419,531 |  |  | 137 |  |  | (58,187) |  |  | 361,481 |
Total available-for-sale |  | $ | 772,677 |  |  | $ | 168 |  |  | $ | (104,545) |  |  | $ | 668,300 |
|  | September 30, 2022
Held-to-Maturity Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 191,975 |  |  | $ | 25 |  |  | $ | (28,121) |  |  | $ | 163,879 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 10,350 |  |  | — |  |  | (1,317) |  |  | 9,033 |
Private label mortgage and asset backed securities |  | 57,201 |  |  | — |  |  | (6,033) |  |  | 51,168 |
Corporate debt securities |  | 45,956 |  |  | — |  |  | (2,593) |  |  | 43,363 |
Total held-to-maturity |  | $ | 305,482 |  |  | $ | 25 |  |  | $ | (38,064) |  |  | $ | 267,443 |
|  | December 31, 2021
Available-for-Sale Securities |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 9,988 |  |  | $ | — |  |  | $ | (63) |  |  | $ | 9,925 |
U.S. Government agencies |  | 373 |  |  | 6 |  |  | — |  |  | 379 |
Obligations of states and political subdivisions |  | 512,952 |  |  | 16,703 |  |  | (3,188) |  |  | 526,467 |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 213,471 |  |  | 2,245 |  |  | (1,277) |  |  | 214,439 |
Private label mortgage and asset backed securities |  | 317,089 |  |  | 824 |  |  | (4,693) |  |  | 313,220 |
Corporate debt securities |  | 44,500 |  |  | 595 |  |  | (317) |  |  | 44,778 |
Total available-for-sale |  | $ | 1,098,373 |  |  | $ | 20,373 |  |  | $ | (9,538) |  |  | $ | 1,109,208 |
Realized gains and losses | Proceeds and gross realized gains (losses) from the sales or calls of investment securities for the periods ended September 30, 2022 and 2021 are shown below (in thousands):
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
Available-for-Sale Securities |  | 2022 |  | 2021 |  | 2022 |  | 2021
Proceeds from sales or calls |  | $ | 275 |  |  | $ | 10,170 |  |  | $ | 235,645 |  |  | $ | 10,760 |
Gross realized gains from sales or calls |  | — |  |  | 117 |  |  | 5,123 |  |  | 117 |
Gross realized losses from sales or calls |  | (14) |  |  | — |  |  | (5,900) |  |  | (79) |
Investment | Investment securities, aggregated by investment category, with unrealized losses as of the dates indicated are summarized and classified according to the duration of the loss period as follows (in thousands):
|  | September 30, 2022
|  | Less than 12 Months |  | 12 Months or More |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
Available-for-Sale Securities |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | — |  |  | $ | — |  |  | $ | 8,548 |  |  | $ | (1,441) |  |  | $ | 8,548 |  |  | $ | (1,441) |
U.S. Government agencies |  | 333 |  |  | (11) |  |  | — |  |  | — |  |  | 333 |  |  | (11) |
Obligations of states and political subdivisions |  | 165,535 |  |  | (32,830) |  |  | 17,063 |  |  | (4,320) |  |  | 182,598 |  |  | (37,150) |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 66,164 |  |  | (3,371) |  |  | 49,176 |  |  | (4,385) |  |  | 115,340 |  |  | (7,756) |
Private label mortgage and asset backed securities |  | 202,786 |  |  | (26,135) |  |  | 158,695 |  |  | (32,052) |  |  | 361,481 |  |  | (58,187) |
Total available-for-sale |  | $ | 434,818 |  |  | $ | (62,347) |  |  | $ | 233,482 |  |  | $ | (42,198) |  |  | $ | 668,300 |  |  | $ | (104,545) |
|  | September 30, 2022
|  | Less than 12 Months |  | 12 Months or More |  | Total
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized
Held-to-Maturity Securities |  | Value |  | Losses |  | Value |  | Losses |  | Value |  | Losses
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Obligations of states and political subdivisions |  | $ | 87,855 |  |  | $ | (15,353) |  |  | $ | 76,024 |  |  | $ | (12,768) |  |  | $ | 163,879 |  |  | $ | (28,121) |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | — |  |  | — |  |  | 9,033 |  |  | (1,317) |  |  | 9,033 |  |  | (1,317) |
Private label mortgage and asset backed securities |  | 35,419 |  |  | (4,702) |  |  | 15,749 |  |  | (1,331) |  |  | 51,168 |  |  | (6,033) |
Corporate debt securities |  | 26,916 |  |  | (1,501) |  |  | 16,447 |  |  | (1,092) |  |  | 43,363 |  |  | (2,593) |
Total held-to-maturity |  | $ | 150,190 |  |  | $ | (21,556) |  |  | $ | 117,253 |  |  | $ | (16,508) |  |  | $ | 267,443 |  |  | $ | (38,064) |

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