Investment Securities (Tables)

6 Months Ended

Jun. 30, 2022

Investment Securities [Abstract]

Schedule Of Investment Securities Classified As Available-for-sale And Held-to-maturity

 

Available-for-sale	June 30, 2022
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
	cost		gains		losses		value
U.S. Government agency securities	$	29,598	$	32	$	(893)	$	28,737
Asset-backed securities *		356,788		—		(10,889)		345,899
Tax-exempt obligations of states and political subdivisions		3,559		18		(16)		3,561
Taxable obligations of states and political subdivisions		45,723		116		(526)		45,313
Residential mortgage-backed securities		160,885		172		(5,693)		155,364
Collateralized mortgage obligation securities		49,793		1		(842)		48,952
Commercial mortgage-backed securities		201,317		—		(8,448)		192,869
Corporate debt securities		10,000		—		(4,079)		5,921
	$	857,663	$	339	$	(31,386)	$	826,616

	June 30, 2022
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
* Asset-backed securities as shown above	cost		gains		losses		value
Federally insured student loan securities	$	20,010	$	—	$	(169)	$	19,841
Collateralized loan obligation securities		336,778		—		(10,720)		326,058
	$	356,788	$	—	$	(10,889)	$	345,899

Available-for-sale	December 31, 2021
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
	cost		gains		losses		value
U.S. Government agency securities	$	36,182	$	1,167	$	(47)	$	37,302
Asset-backed securities *		360,332		327		(241)		360,418
Tax-exempt obligations of states and political subdivisions		3,559		172		—		3,731
Taxable obligations of states and political subdivisions		45,984		2,422		—		48,406
Residential mortgage-backed securities		179,778		4,804		(281)		184,301
Collateralized mortgage obligation securities		60,778		1,083		—		61,861
Commercial mortgage-backed securities		248,599		4,106		(1,629)		251,076
Corporate debt securities		10,000		—		(3,386)		6,614
	$	945,212	$	14,081	$	(5,584)	$	953,709

	December 31, 2021
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
* Asset-backed securities as shown above	cost		gains		losses		value
Federally insured student loan securities	$	22,518	$	13	$	(73)	$	22,458
Collateralized loan obligation securities		337,814		314		(168)		337,960
	$	360,332	$	327	$	(241)	$	360,418

Amortized Cost And Fair Value Of Investment Securities By Contractual Maturity

	Available-for-sale
	Amortized		Fair
	cost		value
Due before one year	$	22,045	$	22,040
Due after one year through five years		147,226		144,670
Due after five years through ten years		241,267		234,669
Due after ten years		447,125		425,237
	$	857,663	$	826,616

Available-for-sale And Held-to-maturity Securities, Continuous Unrealized Loss Position

Available-for-sale		Less than 12 months				12 months or longer				Total
	Number of securities		Fair Value		Unrealized losses		Fair Value		Unrealized losses		Fair Value		Unrealized losses
Description of Securities
U.S. Government agency securities	12	$	24,453	$	(857)	$	2,434	$	(36)	$	26,887	$	(893)
Asset-backed securities	59		252,857		(7,312)		93,042		(3,577)		345,899		(10,889)
Tax-exempt obligations of states and
political subdivisions	1		1,143		(16)		—		—		1,143		(16)
Taxable obligations of states and
political subdivisions	21		36,616		(526)		—		—		36,616		(526)
Residential mortgage-backed securities	131		135,304		(5,227)		5,324		(466)		140,628		(5,693)
Collateralized mortgage obligation securities	20		48,815		(842)		—		—		48,815		(842)
Commercial mortgage-backed securities	42		155,933		(4,190)		36,935		(4,258)		192,868		(8,448)
Corporate debt securities	1		—		—		5,921		(4,079)		5,921		(4,079)
Total unrealized loss position
investment securities	287	$	655,121	$	(18,970)	$	143,656	$	(12,416)	$	798,777	$	(31,386)

The table below indicates the length of time individual securities had been in a continuous unrealized loss position at December 31, 2021 (dollars in thousands):

Available-for-sale		Less than 12 months				12 months or longer				Total
	Number of securities		Fair Value		Unrealized losses		Fair Value		Unrealized losses		Fair Value		Unrealized losses
Description of Securities
U.S. Government agency securities	2	$	—	$	—	$	2,700	$	(47)	$	2,700	$	(47)
Asset-backed securities	42		243,598		(235)		1,197		(6)		244,795		(241)
Residential mortgage-backed securities	30		21,640		(159)		5,160		(122)		26,800		(281)
Commercial mortgage-backed securities	12		3,334		(43)		91,355		(1,586)		94,689		(1,629)
Corporate debt securities	1		—		—		6,614		(3,386)		6,614		(3,386)
Total unrealized loss position
investment securities	87	$	268,572	$	(437)	$	107,026	$	(5,147)	$	375,598	$	(5,584)