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AFS Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Amortized cost and fair value of available-for-sale securities

The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows as of December 31:

			2022
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	231,622					$	—					$	22,921					$	208,701
States and political subdivisions			122,023						392						4,903						117,512
Auction rate money market preferred			3,200						—						858						2,342
Mortgage-backed securities			42,309						—						3,239						39,070
Collateralized mortgage obligations			218,301						—						12,573						205,728
Corporate			8,150						—						1,022						7,128
Total			$	625,605					$	392					$	45,516					$	580,481

			2021
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	212,379					$	—					$	2,676					$	209,703
States and political subdivisions			116,836						4,457						88						121,205
Auction rate money market preferred			3,200						42						—						3,242
Mortgage-backed securities			54,710						1,438						—						56,148
Collateralized mortgage obligations			90,435						1,876						10						92,301
Corporate			8,150						19						167						8,002
Total			$	485,710					$	7,832					$	2,941					$	490,601

Amortized cost and fair value of available-for-sale securities by contractual maturity

The amortized cost and fair value of AFS securities by contractual maturity at December 31, 2022 are as follows:

			Maturing																								Securities with Variable Monthly Payments or Noncontractual Maturities
			Due in One Year or Less						After One Year But Within Five Years						After Five Years But Within Ten Years						After Ten Years												Total
U.S. Treasury			$	—					$	231,622					$	—					$	—					$	—					$	231,622
States and political subdivisions			19,753						42,946						21,234						38,090						—						122,023
Auction rate money market preferred			—						—						—						—						3,200						3,200
Mortgage-backed securities			—						—						—						—						42,309						42,309
Collateralized mortgage obligations			—						—						—						—						218,301						218,301
Corporate			—						—						8,150						—						—						8,150
Total amortized cost			$	19,753					$	274,568					$	29,384					$	38,090					$	263,810					$	625,605
Fair value			$	19,666					$	251,479					$	27,703					$	34,493					$	247,140					$	580,481

Summary of the activity related to sales of available-for-sale securities

A summary of the sales activity of AFS securities during the years ended December 31 is displayed in the following table.

			2022						2021						2020
Proceeds from sales of AFS securities			$	—					$	—					$	26,855
Realized gains (losses)			$	—					$	—					$	71
Applicable income tax expense (benefit)			$	—					$	—					$	15

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The information on the following tables pertains to AFS securities with gross unrealized losses at December 31, 2022 and 2021 aggregated by investment category and length of time that individual securities have been in a continuous loss position.

			December 31, 2022
			Less Than Twelve Months												Twelve Months or More
			Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Total Unrealized Losses
U.S. Treasury			$	1,388					$	18,331					$	21,533					$	190,369					$	22,921
States and political subdivisions			2,389						48,083						2,514						40,667						4,903
Auction rate money market preferred			—						—						858						2,342						858
Mortgage-backed securities			3,239						39,069						—						—						3,239
Collateralized mortgage obligations			12,408						201,316						165						4,411						12,573
Corporate			—						—						1,022						7,128						1,022
Total			$	19,424					$	306,799					$	26,092					$	244,917					$	45,516
Number of securities in an unrealized loss position:									178												266						444

			December 31, 2021
			Less Than Twelve Months												Twelve Months or More
			Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Total Unrealized Losses
U.S. Treasury			$	2,676					$	209,703					$	—					$	—					$	2,676
States and political subdivisions			88						9,674						—						—						88
Collateralized mortgage obligations			10						11,165						—						—						10
Corporate			167						6,283						—						—						167
Total			$	2,941					$	236,825					$	—					$	—					$	2,941
Number of securities in an unrealized loss position:									40												—						40

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- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
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-Section 55
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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

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