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Securities (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Estimated Fair Value, and Allowance for Securities Credit Losses of Debt Securities Available-for-Sale and Held-to-Maturity
The amortized cost, estimated fair value, and allowance for securities credit losses of debt securities available-for-sale and held-to-maturity at December 31, 2023 and 2022 are as follows (in thousands):
 
Amortized
Cost (1)
Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value		Allowance for Securities Credit Losses
At December 31, 2023
Debt securities available-for-sale:
U.S. government and agency obligations$66,490 $— $(5,796)$60,694 $— 
Corporate debt securities10,096 11 (981)9,126 — 
Asset-backed securities295,796 — (4,252)291,544 — 
Mortgage-backed securities:
Agency residential298,107 183 (97)298,193 — 
Agency commercial 109,590 — (15,255)94,335 — 
Total mortgage-backed securities407,697 183 (15,352)392,528 — 
Total debt securities available-for-sale$780,079 $194 $(26,381)$753,892 $— 
Debt securities held-to-maturity:
State and municipal debt obligations$222,009 $251 $(14,550)$207,710 $(39)
Corporate debt securities69,809 391 (3,941)66,259 (987)
Mortgage-backed securities:
Agency residential765,632 901 (70,040)696,493 — 
Agency commercial82,734 10 (3,678)79,066 — 
Non-agency commercial20,684 — (1,774)18,910 (107)
Total mortgage-backed securities869,050 911 (75,492)794,469 (107)
Total debt securities held-to-maturity$1,160,868 $1,553 $(93,983)$1,068,438 $(1,133)
Total debt securities$1,940,947 $1,747 $(120,364)$1,822,330 $(1,133)
At December 31, 2022
Debt securities available-for-sale:
U.S. government and agency obligations$87,648 $1 $(7,635)$80,014 $— 
Corporate debt securities8,928 — (756)8,172 — 
Asset-backed securities296,222 — (19,349)276,873 — 
Agency commercial MBS110,606 — (18,017)92,589 — 
Total debt securities available-for-sale$503,404 $1 $(45,757)$457,648 $— 
Debt securities held-to-maturity:
State, municipal and sovereign debt obligations$260,249 $46 $(24,940)$235,355 $(60)
Corporate debt securities54,880 380 (1,765)53,495 (1,059)
Mortgage-backed securities:
Agency residential849,701 795 (83,302)767,194 — 
Agency commercial32,127 23 (1,189)30,961 — 
Non-agency commercial25,310 — (2,274)23,036 (9)
Total mortgage-backed securities907,138 818 (86,765)821,191 (9)
Total debt securities held-to-maturity$1,222,267 $1,244 $(113,470)$1,110,041 $(1,128)
Total debt securities$1,725,671 $1,245 $(159,227)$1,567,689 $(1,128)
(1)The amortized cost for held-to-maturity securities included net unrealized losses of $1.8 million and $2.3 million, at December 31, 2023 and 2022, respectively, related to securities transferred from available-for-sale to held-to-maturity in prior years. These unrealized losses continue to be reflected within accumulated other comprehensive income, net of subsequent amortization, which is to be recognized over the life of the securities.
Schedule of Activity in the Allowance for Credit Losses for Debt Securities Held-to-Maturity
The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity for the years ended December 31, 2023 and 2022 (in thousands):
For the Years Ended,
20232022
Allowance for securities credit losses
Beginning balance$(1,128)$(1,467)
(Provision) benefit for credit losses(5)339 
Total ending allowance balance$(1,133)$(1,128)
Schedule of Amortized Cost of Debt Securities Held-to-Maturity at Aggregated by Credit Quality Indicator Under this approach, the amortized cost of debt securities held-to-maturity at December 31, 2023, aggregated by credit quality indicator, are as follows (in thousands):
Investment GradeNon-Investment Grade/Non-ratedTotal
As of December 31, 2023
State and municipal debt obligations$222,009 $— $222,009 
Corporate debt securities55,737 14,072 69,809 
Non-agency commercial MBS20,684 — 20,684 
Total debt securities held-to-maturity$298,430 $14,072 $312,502 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities at December 31, 2023 by contractual maturity are shown below (in thousands):
At December 31, 2023Amortized
Cost		Estimated
Fair Value
Less than one year$30,663 $30,443 
Due after one year through five years201,348 187,396 
Due after five years through ten years191,482 185,225 
Due after ten years240,707 232,269 
$664,200 $635,333 
Schedule of Estimated Fair Value and Unrealized Losses for Debt Securities Available-for-Sale and Held-to-Maturity
The estimated fair value and unrealized losses for debt securities available-for-sale and held-to-maturity at December 31, 2023 and December 31, 2022, segregated by the duration of the unrealized losses, are as follows (in thousands): 
 Less than 12 Months12 Months or LongerTotal
 Estimated
Fair Value		Unrealized
Losses		Estimated
Fair Value		Unrealized
Losses		Estimated
Fair Value		Unrealized
Losses
At December 31, 2023
Debt securities available-for-sale:
U.S. government and agency obligations$833 $(2)$59,861 $(5,794)$60,694 $(5,796)
Corporate debt securities1,543 (165)6,116 (816)7,659 (981)
Asset-backed securities— — 291,544 (4,252)291,544 (4,252)
MBS:
Agency residential 169,000 (97)— — 169,000 (97)
Agency commercial— — 94,335 (15,255)94,335 (15,255)
Total MBS169,000 (97)94,335 (15,255)263,335 (15,352)
Total debt securities available-for-sale171,376 (264)451,856 (26,117)623,232 (26,381)
Debt securities held-to-maturity:
State and municipal debt obligations6,671 (23)191,511 (14,527)198,182 (14,550)
Corporate debt securities3,084 (473)58,386 (3,468)61,470 (3,941)
MBS:
Agency residential95,776 (693)525,751 (69,347)621,527 (70,040)
Agency commercial18,902 (370)55,051 (3,308)73,953 (3,678)
Non-agency commercial— — 18,910 (1,774)18,910 (1,774)
Total MBS114,678 (1,063)599,712 (74,429)714,390 (75,492)
Total debt securities held-to-maturity124,433 (1,559)849,609 (92,424)974,042 (93,983)
Total debt securities$295,809 $(1,823)$1,301,465 $(118,541)$1,597,274 $(120,364)
At December 31, 2022
Debt securities available-for-sale:
U.S. government and agency obligations$27,232 $(450)$52,782 $(7,185)$80,014 $(7,635)
Corporate debt securities4,735 (193)3,437 (563)8,172 (756)
Asset-backed securities143,392 (9,179)133,481 (10,170)276,873 (19,349)
Agency commercial MBS8,782 (1,675)83,807 (16,342)92,589 (18,017)
Total debt securities available-for-sale184,141 (11,497)273,507 (34,260)457,648 (45,757)
Debt securities held-to-maturity:
State, municipal and sovereign debt obligations133,492 (11,952)97,135 (12,988)230,627 (24,940)
Corporate debt securities11,783 (598)36,152 (1,167)47,935 (1,765)
MBS:
Agency residential297,297 (12,388)397,036 (70,914)694,333 (83,302)
Agency commercial25,936 (1,150)2,062 (39)27,998 (1,189)
Non-agency commercial16,838 (1,621)6,198 (653)23,036 (2,274)
Total MBS340,071 (15,159)405,296 (71,606)745,367 (86,765)
Total debt securities held-to-maturity485,346 (27,709)538,583 (85,761)1,023,929 (113,470)
Total debt securities$669,487 $(39,206)$812,090 $(120,021)$1,481,577 $(159,227)
Schedule of Realized and Unrealized Gains or Losses on Equity Securities
The realized and unrealized gains or losses on equity securities for the year ended December 31, 2023 and 2022 are shown in the table below (in thousands):
For the Year Ended December 31,
202320222021
Net (loss) gain on equity investments$(3,732)$9,685 $7,145 
Less: Net (losses) gains recognized on equity investments sold(5,462)1,351 8,123 
Unrealized gains (losses) recognized on equity investments still held$1,730 $8,334 $(978)