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Securities (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Available for Sale Securities | The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized were as follows:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
2023 |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. government agencies |  | $ | 71,418 |  |  | $ | 315 |  |  | $ | (4,075 | ) |  | $ | 67,658 |
Obligations of states and political subdivisions |  |  | 359,452 |  |  |  | 2,725 |  |  |  | (23,578 | ) |  |  | 338,599 |
Mortgage-back securities in government sponsored entities |  |  | 242,022 |  |  |  | 19 |  |  |  | (30,026 | ) |  |  | 212,015 |
Total debt securities |  | $ | 672,892 |  |  | $ | 3,059 |  |  | $ | (57,679 | ) |  | $ | 618,272 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
2022 |  |  |  |  |  |  |  |  |  |  |  |
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-back 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 year end 2023 by contractual maturity were as follows. 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 |  | $ | 2,652 |  |  | $ | 2,652 |
Due from one to five years |  |  | 78,395 |  |  |  | 73,198 |
Due from five to ten years |  |  | 38,867 |  |  |  | 37,397 |
Due after ten years |  |  | 310,956 |  |  |  | 293,010 |
Mortgage-backed securities in government sponsored entities |  |  | 242,022 |  |  |  | 212,015 |
Total securities available for sale |  | $ | 672,892 |  |  | $ | 618,272 |
Proceeds from Sales of Securities, Gross Realized Gains and Losses | Proceeds from sales of securities, gross realized gains and gross realized losses were as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Sale proceeds |  | $ | — |  |  | $ | 57,332 |  |  | $ | 1,810 |
Gross realized gains |  |  | — |  |  |  | — |  |  |  | 1,785 |
Gross realized losses |  |  | — |  |  |  | — |  |  |  | — |
Gains from securities called or settled by the issuer |  |  | — |  |  |  | 10 |  |  |  | 1 |
Securities with Unrealized Losses Not Recognized in Income | Debt securities with unrealized losses at year end 2023 and 2022 not recognized in income were as follows:
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 |  | $ | 224 |  |  | $ | (1 | ) |  | $ | 56,760 |  |  | $ | (4,074 | ) |  | $ | 56,984 |  |  | $ | (4,075 | )
Obligations of states and political subdivisions |  |  | 19,168 |  |  |  | (78 | ) |  |  | 162,291 |  |  |  | (23,500 | ) |  |  | 181,459 |  |  |  | (23,578 | )
Mortgage-backed securities in gov’t sponsored entities |  |  | 20,112 |  |  |  | (522 | ) |  |  | 189,319 |  |  |  | (29,504 | ) |  |  | 209,431 |  |  |  | (30,026 | )
Total temporarily impaired |  | $ | 39,504 |  |  | $ | (601 | ) |  | $ | 408,370 |  |  | $ | (57,078 | ) |  | $ | 447,874 |  |  | $ | (57,679 | )
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 at year-end 2023 and 2022, and the portion of unrealized gains and losses for the period that relates to equity investments held at year-end 2023 and 2022:
|  | 2023 |  |  | 2022 |
Net gains (losses) recognized on equity securities during the year |  | $ | (21 | ) |  | $ | 118 |
Less: Net gains realized on the sale of equity securities during the period |  |  | — |  |  |  | — |
Unrealized gains (losses) recognized in equity securities held at December 31 |  | $ | (21 | ) |  | $ | 118 |

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