The following tables summarize the amortized cost, allowance for credit losses and fair value of the available-for-sale debt securities and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income at June 30, 2022 and December 31, 2021:


	June 30, 2022
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses for investments		Fair Value
Investment Securities
Available-for-sale debt securities
U.S. government agency securities	$	45,154	$	4	$	(3,099)	$	—	$	42,059
Mortgage-backed securities - residential	1,297,033		325		(132,426)		—		1,164,932
Mortgage-backed securities - commercial	21,539		—		(871)		—		20,668
Municipal securities	301,175		810		(28,821)		—		273,164
U.S. Treasury securities	112,844		—		(3,051)		—		109,793
Corporate securities	8,006		—		(381)		—		7,625
Total	$	1,785,751	$	1,139	$	(168,649)	$	—	$	1,618,241


	December 31, 2021
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses for investments		Fair Value
Investment Securities
Available-for-sale debt securities
U.S. government agency securities	$	34,023	$	18	$	(171)	$	—	$	33,870
Mortgage-backed securities - residential	1,281,285		6,072		(17,985)		—		1,269,372
Mortgage-backed securities - commercial	15,024		272		(46)		—		15,250
Municipal securities	322,052		16,718		(160)		—		338,610
U.S. Treasury securities	14,914		—		(6)		—		14,908
Corporate securities	6,500		40		(25)		—		6,515
Total	$	1,673,798	$	23,120	$	(18,393)	$	—	$	1,678,525

The components of amortized cost for debt securities on the consolidated balance sheets excludes accrued interest receivable since the Company elected to present accrued interest receivable separately on the consolidated balance sheets. As of June 30, 2022 and December 31, 2021, total accrued interest receivable on debt securities was $5,662 and $5,051, respectively.

As of June 30, 2022 and December 31, 2021, the Company had $3,103 and $3,367, in marketable equity securities recorded at fair value, respectively.

Securities pledged at June 30, 2022 and December 31, 2021 had carrying amounts of $1,312,460 and $1,226,646, respectively, and were pledged to secure a Federal Reserve Bank line of credit, public deposits and repurchase agreements.

There were no holdings of securities of any one issuer, other than U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders' equity during any period presented.

Investment securities transactions are recorded as of the trade date. At June 30, 2022 and December 31, 2021, there were no trade date receivables or payables that related to sales or purchases settled after period end.

The amortized cost and fair value of debt securities by contractual maturity at June 30, 2022 and December 31, 2021 are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgage underlying the security may be called or repaid without any penalties. Therefore, mortgage-backed securities are not included in the maturity categories in the following summary.


	June 30,				December 31,
	2022				2021
	Available-for-sale				Available-for-sale
	Amortized cost		Fair value		Amortized cost		Fair value
Due in one year or less	$	3,078	$	3,077	$	21,851	$	21,884
Due in one to five years	157,083		152,339		54,847		55,307
Due in five to ten years	58,406		55,967		45,714		46,975
Due in over ten years	248,612		221,258		255,077		269,737
	467,179		432,641		377,489		393,903
Mortgage-backed securities - residential	1,297,033		1,164,932		1,281,285		1,269,372
Mortgage-backed securities - commercial	21,539		20,668		15,024		15,250
Total debt securities	$	1,785,751	$	1,618,241	$	1,673,798	$	1,678,525


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Proceeds from sales	$	1,218	$	—	$	1,218	$	—
Proceeds from maturities, prepayments and calls	126,349		86,866		126,349		147,906
Gross realized gains	1		8		3		15
Gross realized losses	—		—		—		—

Additionally, the change in the fair value of equity securities and sale of equity securities resulted in a net loss of $110 and a net gain of $136 for the three months ended June 30, 2022 and 2021, respectively, and in a net loss of $264 and a net gain of $212 for the six months ended June 30, 2022 and 2021, respectively.

The following tables show gross unrealized losses for which an allowance for credit losses has not been recorded at June 30, 2022 and December 31, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


	June 30, 2022
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. government agency securities	$	41,061	$	(3,099)	$	—	$	—	$	41,061	$	(3,099)
Mortgage-backed securities - residential	928,511		(101,181)		191,387		(31,245)		1,119,898		(132,426)
Mortgage-backed securities - commercial	20,668		(871)		—		—		20,668		(871)
Municipal securities	216,587		(28,536)		939		(285)		217,526		(28,821)
U.S. Treasury securities	108,125		(3,051)		—		—		108,125		(3,051)
Corporate securities	7,743		(381)		—		—		7,743		(381)
Total	$	1,322,695	$	(137,119)	$	192,326	$	(31,530)	$	1,515,021	$	(168,649)


	December 31, 2021
	Less than 12 months				12 months or more				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized loss
U.S. government agency securities	$	18,360	$	(171)	$	—	$	—	$	18,360	$	(171)
Mortgage-backed securities - residential	$	871,368	$	(14,295)	$	102,799	$	(3,690)	$	974,167	$	(17,985)
Mortgage-backed securities - commercial	7,946		(46)		—		—		7,946		(46)
Municipal securities	11,414		(160)		—		—		11,414		(160)
U.S. Treasury securities	14,908		(6)		—		—		14,908		(6)
Corporate securities	4,119		(25)		—		—		4,119		(25)
Total	$	928,115	$	(14,703)	$	102,799	$	(3,690)	$	1,030,914	$	(18,393)

As of June 30, 2022 and December 31, 2021, the Company’s securities portfolio consisted of 509 and 511 securities, 416 and 80 of which were in an unrealized loss position, respectively.

During the three months ended June 30, 2022, the Company's available-for-sale debt securities portfolio unrealized value declined $66,577 to an unrealized loss position of $167,510 as of June 30, 2022 from an unrealized loss position of $100,933 as of March 31, 2022. During the six months ended June 30, 2022, the Company's available-for-sale debt securities portfolio unrealized value declined $172,237 from an unrealized gain position of $4,727 as of December 31, 2021.

During the three months ended June 30, 2021, the Company's available-for-sale debt securities portfolio unrealized value increased $3,076 to an unrealized gain position of $22,321 as of June 30, 2021 from an unrealized gain position of $19,245 as of March 31, 2021. During the six months ended June 30, 2021, the Company's available-for-sale debt securities portfolio unrealized value declined $12,231 from an unrealized gain position of $34,552 as of December 31, 2020.