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Securities (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments Debt And Equity Securities [Abstract] |
Available for Sale Securities | The amortized cost and fair market value of available-for-sale securities and the related gross unrealized gains and losses recognized were as follows:
March 31, 2023 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 66,781 |  |  | $ | 22 |  |  | $ | (4,290 | ) |  | $ | 62,513 |
Obligations of states and political subdivisions |  |  | 356,250 |  |  |  | 1,902 |  |  |  | (27,514 | ) |  |  | 330,638 |
Mortgage-backed securities in government sponsored entities |  |  | 261,324 |  |  |  | 24 |  |  |  | (26,792 | ) |  |  | 234,556 |
Total debt securities |  | $ | 684,355 |  |  | $ | 1,948 |  |  | $ | (58,596 | ) |  | $ | 627,707 |
December 31, 2022 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 66,495 |  |  | $ | 20 |  |  | $ | (5,486 | ) |  | $ | 61,029 |
Obligations of states and political subdivisions |  |  | 350,104 |  |  |  | 784 |  |  |  | (33,640 | ) |  |  | 317,248 |
Mortgage-backed securities in government sponsored entities |  |  | 265,752 |  |  |  | 15 |  |  |  | (28,642 | ) |  |  | 237,125 |
Total debt securities |  | $ | 682,351 |  |  | $ | 819 |  |  | $ | (67,768 | ) |  | $ | 615,402 |
Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities at March 31, 2023, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.
Available for sale |  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 6,449 |  |  | $ | 6,299 |
Due after one year through five years |  |  | 50,074 |  |  |  | 47,145 |
Due after five years through ten years |  |  | 66,175 |  |  |  | 62,011 |
Due after ten years |  |  | 300,333 |  |  |  | 277,696 |
Mortgage-backed securities |  |  | 261,324 |  |  |  | 234,556 |
Total securities available-for-sale |  | $ | 684,355 |  |  | $ | 627,707 |
Gross Unrealized Losses and Fair Value, Aggregated by Investment Category | The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2023 and December 31, 2022:
March 31, 2023 |  | 12 Months or less |  |  | More than 12 months |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 20,129 |  |  | $ | (482 | ) |  | $ | 41,506 |  |  | $ | (3,808 | ) |  | $ | 61,635 |  |  | $ | (4,290 | )
Obligations of states and political subdivisions |  |  | 55,169 |  |  |  | (620 | ) |  |  | 148,004 |  |  |  | (26,894 | ) |  |  | 203,173 |  |  |  | (27,514 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 91,267 |  |  |  | (2,381 | ) |  |  | 139,927 |  |  |  | (24,411 | ) |  |  | 231,194 |  |  |  | (26,792 | )
Total temporarily impaired |  | $ | 166,565 |  |  | $ | (3,483 | ) |  | $ | 329,437 |  |  | $ | (55,113 | ) |  | $ | 496,002 |  |  | $ | (58,596 | )
December 31, 2022 |  | 12 Months or less |  |  | More than 12 months |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 21,042 |  |  | $ | (880 | ) |  | $ | 39,567 |  |  | $ | (4,606 | ) |  | $ | 60,609 |  |  | $ | (5,486 | )
Obligations of states and political subdivisions |  |  | 169,594 |  |  |  | (13,016 | ) |  |  | 73,967 |  |  |  | (20,624 | ) |  |  | 243,561 |  |  |  | (33,640 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 111,639 |  |  |  | (4,713 | ) |  |  | 124,622 |  |  |  | (23,929 | ) |  |  | 236,261 |  |  |  | (28,642 | )
Total temporarily impaired |  | $ | 302,275 |  |  | $ | (18,609 | ) |  | $ | 238,156 |  |  | $ | (49,159 | ) |  | $ | 540,431 |  |  | $ | (67,768 | )
Schedule of Net Gains and Losses on Equity Investments Recognized in Earnings and Portion of Unrealized Gains and Losses for Period that Relates to Equity Investments | The following table presents the net gains and losses on equity investments recognized in earnings for the three months ended March 31, 2023 and 2022, and the portion of unrealized gains and losses for the period that relates to equity investments held at March 31, 2023 and 2022:
|  | Three Months Ended March 31, |
|  | 2023 |  |  | 2022 |
Net gains (losses) recognized on equity securities during the period |  | $ | (68 | ) |  | $ | 50 |
Less: Net losses realized on the sale of equity securities during the period |  |  | — |  |  |  | — |
Unrealized gains (losses) recognized on equity securities held at reporting date |  | $ | (68 | ) |  | $ | 50 |

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- Definition 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). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 + Details
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