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AFS Securities (Tables)

9 Months Ended

Sep. 30, 2023

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 at:

			September 30, 2023
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	231,318					$	—					$	22,136					$	209,182
States and political subdivisions			97,042						350						7,619						89,773
Auction rate money market preferred			3,200						—						630						2,570
Mortgage-backed securities			36,927						—						4,004						32,923
Collateralized mortgage obligations			191,187						—						15,557						175,630
Corporate			8,150						—						1,331						6,819
Total			$	567,824					$	350					$	51,277					$	516,897

			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

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 September 30, 2023 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			$	—					$	231,318					$	—					$	—					$	—					$	231,318
States and political subdivisions			11,998						31,826						20,807						32,411						—						97,042
Auction rate money market preferred			—						—						—						—						3,200						3,200
Mortgage-backed securities			—						—						—						—						36,927						36,927
Collateralized mortgage obligations			—						—						—						—						191,187						191,187
Corporate			—						—						8,150						—						—						8,150
Total amortized cost			$	11,998					$	263,144					$	28,957					$	32,411					$	231,314					$	567,824
Fair value			$	11,945					$	240,395					$	25,832					$	27,602					$	211,123					$	516,897

Schedule of Realized Gain (Loss) [Table Text Block]

A summary of the sales activity of AFS securities is as follows for the:

			Three Months Ended   September 30												Nine Months Ended   September 30
			2023						2022						2023						2022
Proceeds from sales of AFS securities			$	—					$	—					$	18,089					$	—
Realized gains (losses)			$	—					$	—					$	67					$	—
Applicable income tax expense (benefit)			$	—					$	—					$	14					$	—

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

The following information pertains to AFS securities with gross unrealized losses at September 30, 2023 and December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position.

			September 30, 2023
			Less Than Twelve Months												Twelve Months or More
			Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Total Unrealized Losses
U.S. Treasury			$	—					$	—					$	22,136					$	209,182					$	22,136
States and political subdivisions			962						24,474						6,657						53,180						7,619
Auction rate money market preferred			—						—						630						2,570						630
Mortgage-backed securities			1						38						4,003						32,885						4,004
Collateralized mortgage obligations			294						4,362						15,263						171,268						15,557
Corporate			—						—						1,331						6,819						1,331
Total			$	1,257					$	28,874					$	50,020					$	475,904					$	51,277
Number of securities in an unrealized loss position:									67												400						467

			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					$	190,370					$	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						39,070						—						—						3,239
Collateralized mortgage obligations			12,408						201,315						165						4,411						12,573
Corporate			—						—						1,022						7,128						1,022
Total			$	19,424					$	306,799					$	26,092					$	244,918					$	45,516
Number of securities in an unrealized loss position:									178												266						444

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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.

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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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