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SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale | Amortized cost and estimated fair value of securities available for sale are as follows (in thousands):
|  | March 31, 2023
|  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Allowance for credit losses |  | Estimated Fair Value
U.S. Treasury notes and bonds |  | $ | 61,619 |  |  | $ | — |  |  | $ | 5,291 |  |  | $ | — |  |  | $ | 56,328 |
Mortgage-backed securities, residential |  | 508,906 |  |  | — |  |  | 76,252 |  |  | — |  |  | 432,654 |
Obligations of states and political subdivisions |  | 39,795 |  |  | 19 |  |  | 400 |  |  | — |  |  | 39,414 |
Corporate bonds and notes |  | 25,750 |  |  | — |  |  | 5,120 |  |  | — |  |  | 20,630 |
SBA loan pools |  | 78,769 |  |  | 130 |  |  | 1,870 |  |  | — |  |  | 77,029 |
Total |  | $ | 714,839 |  |  | $ | 149 |  |  | $ | 88,933 |  |  | $ | — |  |  | $ | 626,055 |
|  | December 31, 2022
|  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
U.S. Treasury notes and bonds |  | $ | 61,800 |  |  | $ | — |  |  | $ | 6,225 |  |  | $ | 55,574 |
Mortgage-backed securities, residential |  | 518,838 |  |  | — |  |  | 83,707 |  |  | 435,131 |
Obligations of states and political subdivisions |  | 39,828 |  |  | 2 |  |  | 938 |  |  | 38,892 |
Corporate bonds and notes |  | 25,750 |  |  | — |  |  | 3,780 |  |  | 21,970 |
SBA loan pools |  | 82,982 |  |  | 155 |  |  | 2,116 |  |  | 81,022 |
Total |  | $ | 729,198 |  |  | $ | 157 |  |  | $ | 96,766 |  |  | $ | 632,589 |
Schedule of Amortized Cost and Estimated Fair Value of Securities Held to Maturity | Amortized cost and estimated fair value of securities held to maturity are as follows (in thousands):
|  | March 31, 2023
|  | Amortized Cost |  | Unrecognized Gains |  |  | Unrecognized Losses |  | Allowance for credit losses |  | Estimated Fair Value
Obligations of states and political subdivisions |  | $ | 952 |  |  | $ | — |  |  |  | $ | — |  |  | $ | — |  |  | $ | 952 |
Time deposits with other financial institutions |  | 980 |  |  | — |  |  |  | 27 |  |  | — |  |  | 953 |
Total |  | $ | 1,932 |  |  | $ | — |  |  |  | $ | 27 |  |  | $ | — |  |  | $ | 1,905 |
|  | December 31, 2022
|  | Amortized Cost |  | Unrecognized Gains |  | Unrecognized Losses |  | Estimated Fair Value
Obligations of states and political subdivisions |  | $ | 952 |  |  | $ | — |  |  | $ | — |  |  | $ | 952 |
Time deposits with other financial institutions |  | 1,472 |  |  | — |  |  | 22 |  |  | 1,450 |
Total |  | $ | 2,424 |  |  | $ | — |  |  | $ | 22 |  |  | $ | 2,402 |
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | Securities not due at a single maturity date are shown separately (in thousands):
|  | March 31, 2023
|  | Available for Sale |  | Held to Maturity
|  | Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Within one year |  | $ | 3,141 |  |  | $ | 3,102 |  |  | $ | 1,004 |  |  | $ | 1,003 |
After one, but within five years |  | 104,669 |  |  | 98,309 |  |  | 928 |  |  | 902 |
After five, but within ten years |  | 18,883 |  |  | 14,501 |  |  | — |  |  | — |
After ten years |  | 471 |  |  | 460 |  |  | — |  |  | — |
|  | 127,164 |  |  | 116,372 |  |  | 1,932 |  |  | 1,905 |
Mortgage-backed securities, residential |  | 508,906 |  |  | 432,654 |  |  | — |  |  | — |
SBA loan pools |  | 78,769 |  |  | 77,029 |  |  | — |  |  | — |
Total |  | $ | 714,839 |  |  | $ | 626,055 |  |  | $ | 1,932 |  |  | $ | 1,905 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The following tables summarize the investment securities available for sale with unrealized losses at March 31, 2023 and December 31, 2022 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):
| Less than 12 months |  | 12 months or longer |  | Total
March 31, 2023 | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury notes and bonds | $ | 1,107 |  |  | $ | 16 |  |  | $ | 55,221 |  |  | $ | 5,275 |  |  | $ | 56,328 |  |  | $ | 5,291 |
Mortgage-backed securities, residential | 7,594 |  |  | 477 |  |  | 425,060 |  |  | 75,775 |  |  | 432,654 |  |  | 76,252 |
Obligations of states and political subdivisions | 20,209 |  |  | 176 |  |  | 12,962 |  |  | 224 |  |  | 33,171 |  |  | 400 |
Corporate bonds and notes | 2,750 |  |  | 250 |  |  | 12,064 |  |  | 4,870 |  |  | 14,814 |  |  | 5,120 |
SBA loan pools | 9,279 |  |  | 20 |  |  | 56,883 |  |  | 1,850 |  |  | 66,162 |  |  | 1,870 |
Total temporarily impaired securities | $ | 40,939 |  |  | $ | 939 |  |  | $ | 562,190 |  |  | $ | 87,994 |  |  | $ | 603,129 |  |  | $ | 88,933 |
| Less than 12 months |  | 12 months or longer |  | Total
December 31, 2022 | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. Treasury notes and bonds | $ | 1,011 |  |  | $ | 30 |  |  | $ | 54,563 |  |  | $ | 6,195 |  |  | $ | 55,574 |  |  | $ | 6,225 |
Mortgage-backed securities, residential | 79,891 |  |  | 7,621 |  |  | 355,240 |  |  | 76,086 |  |  | 435,131 |  |  | 83,707 |
Obligations of states and political subdivisions | 37,847 |  |  | 938 |  |  | — |  |  | — |  |  | 38,785 |  |  | 938 |
Corporate bonds and notes | 4,515 |  |  | 485 |  |  | 7,455 |  |  | 3,295 |  |  | 11,970 |  |  | 3,780 |
SBA loan pools | 14,333 |  |  | 925 |  |  | 51,123 |  |  | 1,191 |  |  | 65,456 |  |  | 2,116 |
Total temporarily impaired securities | $ | 137,597 |  |  | $ | 9,999 |  |  | $ | 468,381 |  |  | $ | 86,767 |  |  | $ | 606,916 |  |  | $ | 96,766 |

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