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AFS Securities (Tables)

3 Months Ended

Mar. 31, 2024

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:

			March 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	231,114					$	—					$	16,888					$	214,226
States and political subdivisions			93,569						805						3,904						90,470
Auction rate money market preferred			3,200						—						187						3,013
Mortgage-backed securities			33,762						—						2,718						31,044
Collateralized mortgage obligations			182,542						—						10,711						171,831
Corporate			8,150						—						1,149						7,001
Total			$	552,337					$	805					$	35,557					$	517,585

			December 31, 2023
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	231,218					$	—					$	16,417					$	214,801
States and political subdivisions			94,837						1,032						2,993						92,876
Auction rate money market preferred			3,200						—						269						2,931
Mortgage-backed securities			35,321						—						2,506						32,815
Collateralized mortgage obligations			187,248						—						9,473						177,775
Corporate			8,150						—						1,200						6,950
Total			$	559,974					$	1,032					$	32,858					$	528,148

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 March 31, 2024 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			$	9,990					$	221,124					$	—					$	—					$	—					$	231,114
States and political subdivisions			15,105						27,636						19,913						30,915						—						93,569
Auction rate money market preferred			—						—						—						—						3,200						3,200
Mortgage-backed securities			—						—						—						—						33,762						33,762
Collateralized mortgage obligations			—						—						—						—						182,542						182,542
Corporate			—						—						8,150						—						—						8,150
Total amortized cost			$	25,095					$	248,760					$	28,063					$	30,915					$	219,504					$	552,337
Fair value			$	25,158					$	232,115					$	26,197					$	28,227					$	205,888					$	517,585

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   March 31
															2024						2023
Proceeds from sales of AFS securities															$	—					$	4,145
Realized gains (losses)															$	—					$	1
Applicable income tax expense (benefit)															$	—					$	—

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

The information in the following tables pertains to AFS securities with gross unrealized losses at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position.

			March 31, 2024
			Less Than Twelve Months												Twelve Months or More
			Gross Unrealized Losses						Fair Value						Gross Unrealized Losses						Fair Value						Total Unrealized Losses
U.S. Treasury			$	—					$	—					$	16,888					$	214,226					$	16,888
States and political subdivisions			86						14,347						3,818						41,225						3,904
Auction rate money market preferred			—						—						187						3,013						187
Mortgage-backed securities			1						3						2,717						31,041						2,718
Collateralized mortgage obligations			—						—						10,711						171,831						10,711
Corporate			—						—						1,149						7,001						1,149
Total			$	87					$	14,350					$	35,470					$	468,337					$	35,557
Number of securities in an unrealized loss position:									40												218						258

			December 31, 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			$	—					$	—					$	16,417					$	214,801					$	16,417
States and political subdivisions			42						7,172						2,951						37,011						2,993
Auction rate money market preferred			—						—						269						2,931						269
Mortgage-backed securities			1						10						2,505						32,805						2,506
Collateralized mortgage obligations			116						4,554						9,357						173,221						9,473
Corporate			—						—						1,200						6,950						1,200
Total			$	159					$	11,736					$	32,699					$	467,719					$	32,858
Number of securities in an unrealized loss position:									22												186						208

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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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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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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