Investment Securities (Tables)

9 Months Ended

Sep. 30, 2022

Investment Securities [Abstract]

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

 

Available-for-sale	September 30, 2022
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
	cost		gains		losses		value
U.S. Government agency securities	$	25,872	$	14	$	(1,604)	$	24,282
Asset-backed securities *		354,690		—		(13,709)		340,981
Tax-exempt obligations of states and political subdivisions		3,559		—		(102)		3,457
Taxable obligations of states and political subdivisions		45,696		54		(1,718)		44,032
Residential mortgage-backed securities		154,920		120		(10,726)		144,314
Collateralized mortgage obligation securities		46,479		—		(1,717)		44,762
Commercial mortgage-backed securities		194,856		—		(12,890)		181,966
Corporate debt securities		10,000		—		(3,200)		6,800
	$	836,072	$	188	$	(45,666)	$	790,594

	September 30, 2022
			Gross		Gross
	Amortized		unrealized		unrealized		Fair
* Asset-backed securities as shown above	cost		gains		losses		value
Federally insured student loan securities	$	18,692	$	—	$	(244)	$	18,448
Collateralized loan obligation securities		335,998		—		(13,465)		322,533
	$	354,690	$	—	$	(13,709)	$	340,981

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	$	27,387	$	27,232
Due after one year through five years		144,209		137,727
Due after five years through ten years		229,430		219,888
Due after ten years		435,046		405,747
	$	836,072	$	790,594

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	$	20,101	$	(1,571)	$	2,409	$	(33)	$	22,510	$	(1,604)
Asset-backed securities	58		179,430		(5,571)		161,551		(8,138)		340,981		(13,709)
Tax-exempt obligations of states and
political subdivisions	4		3,457		(102)		—		—		3,457		(102)
Taxable obligations of states and
political subdivisions	26		39,727		(1,718)		—		—		39,727		(1,718)
Residential mortgage-backed securities	132		124,133		(9,413)		8,513		(1,313)		132,646		(10,726)
Collateralized mortgage obligation securities	22		44,762		(1,717)		—		—		44,762		(1,717)
Commercial mortgage-backed securities	43		143,893		(7,450)		38,073		(5,440)		181,966		(12,890)
Corporate debt securities	1		—		—		6,800		(3,200)		6,800		(3,200)
Total unrealized loss position
investment securities	298	$	555,503	$	(27,542)	$	217,346	$	(18,124)	$	772,849	$	(45,666)

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)