AFS Securities (Tables)

6 Months Ended

Jun. 30, 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:


	June 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury	$	231,012	$	—	$	15,679	$	215,333
States and political subdivisions	86,789		464		4,202		83,051
Auction rate money market preferred	3,200		—		192		3,008
Mortgage-backed securities	32,120		—		2,579		29,541
Collateralized mortgage obligations	178,424		—		10,715		167,709
Corporate	8,150		—		1,146		7,004
Total	$	539,695	$	464	$	34,513	$	505,646


	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 June 30, 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	$	19,922	$	211,090	$	—	$	—	$	—	$	231,012
States and political subdivisions	15,613		24,254		18,442		28,480		—		86,789
Auction rate money market preferred	—		—		—		—		3,200		3,200
Mortgage-backed securities	—		—		—		—		32,120		32,120
Collateralized mortgage obligations	—		—		—		—		178,424		178,424
Corporate	—		—		8,150		—		—		8,150
Total amortized cost	$	35,535	$	235,344	$	26,592	$	28,480	$	213,744	$	539,695
Fair value	$	35,351	$	219,602	$	24,268	$	26,167	$	200,258	$	505,646

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 June 30				Six Months Ended June 30
	2024		2023		2024		2023
Proceeds from sales of AFS securities	$	—	$	13,944	$	—	$	18,089
Realized gains (losses)	—		66		—		67
Applicable income tax expense (benefit)	—		14		—		14

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 June 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position.


	June 30, 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	$	—	$	—	$	15,679	$	215,333	$	15,679
States and political subdivisions	379		26,922		3,823		40,571		4,202
Auction rate money market preferred	—		—		192		3,008		192
Mortgage-backed securities	—		—		2,579		29,541		2,579
Collateralized mortgage obligations	—		—		10,715		167,709		10,715
Corporate	—		—		1,146		7,004		1,146
Total	$	379	$	26,922	$	34,134	$	463,166	$	34,513
Number of securities in an unrealized loss position:			210				198		408


	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