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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the fair value for available for sale debt securities as of March 31, 2024 and December 31, 2023 (in thousands):
March 31, 2024
Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
U.S. Treasury obligations$276,863 — (24,476)252,387 
Agency-guaranteed obligations22,392 1,126 — 23,518 
Mortgage-backed securities1,446,173 119 (186,411)1,259,881 
Asset-backed securities29,978 702 (163)30,517 
State and municipal obligations64,211 — (8,446)55,765 
Corporate obligations50,425 — (6,187)44,238 
$1,890,042 1,947 (225,683)1,666,306 
December 31, 2023
Amortized
cost		Gross
unrealized
gains		Gross
unrealized
losses		Fair
value
U.S. Treasury obligations$276,618 — (22,740)253,878 
Agency-guaranteed obligations26,310 1,188 — 27,498 
Mortgage-backed securities1,462,159 377 (176,927)1,285,609 
Asset-backed securities31,809 594 (168)32,235 
State and municipal obligations64,454 — (7,870)56,584 
Corporate obligations40,448 — (6,140)34,308 
$1,901,798 2,159 (213,845)1,690,112 
Investment Securities Classified by Contractual Maturity
The amortized cost and fair value of available for sale debt securities as of March 31, 2024, by contractual maturity, are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
March 31, 2024
Amortized
cost		Fair
value
Due in one year or less$— — 
Due after one year through five years296,461 271,230 
Due after five years through ten years63,414 58,083 
Due after ten years83,994 77,112 
$443,869 406,425 
The amortized cost and fair value of investment securities in the held to maturity debt securities portfolio as of March 31, 2024 by contractual maturity are shown below (in thousands). Expected maturities may differ from contractual maturities due to prepayment or early call privileges of the issuer.
March 31, 2024
Amortized
cost		Fair
value
Due in one year or less$34,403 34,210 
Due after one year through five years181,204 177,227 
Due after five years through ten years114,993 110,547 
Due after ten years24,088 19,475 
$354,688 341,459 
Investment Securities Held to Maturity
The following tables present the amortized cost, gross unrealized gains, gross unrealized losses and the estimated fair value for held to maturity debt securities as of March 31, 2024 and December 31, 2023 (in thousands):
March 31, 2024
Amortized
cost		Gross
unrealized
gains 		Gross
unrealized
losses 		Fair
value
Treasury Obligations$5,767 — — 5,767 
Agency-sponsored obligations11,058 — (633)10,425 
State and municipal obligations331,292 93 (12,315)319,070 
Corporate obligations6,571 — (374)6,197 
$354,688 93 (13,322)341,459 
December 31, 2023
Amortized
cost		Gross
unrealized
gains 		Gross
unrealized
losses 		Fair
value
Treasury Obligations$5,146 1 — 5,147 
Agency-sponsored obligations11,058 — (652)10,406 
State and municipal obligations339,816 244 (9,700)330,360 
Corporate obligations7,091 — (403)6,688 
$363,111 245 (10,755)352,601 
Amortized Cost of held To Maturity Debt Securities by Year of Originations and Credit Rating The following table provides the amortized cost of held to maturity debt securities by credit rating as of March 31, 2024 and December 31, 2023 (in thousands):
March 31, 2024
Total PortfolioAAAAAABBBNot RatedTotal
Treasury obligations$5,767 — — — — 5,767 
Agency-sponsored obligations11,058 — — — — 11,058 
State and municipal obligations45,728 252,805 30,211 — 2,548 331,292 
Corporate obligations503 2,497 3,546 — 25 6,571 
$63,056 255,302 33,757 — 2,573 354,688 
December 31, 2023
Total PortfolioAAAAAABBBNot RatedTotal
Treasury obligations$5,146 — — — — 5,146 
Agency-sponsored obligations$11,058 — — — — 11,058 
State and municipal obligations43,749 156,438 137,231 — 2,398 339,816 
Corporate obligations504 2,510 4,052 — 25 7,091 
$60,457 158,948 141,283 — 2,423 363,111