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Securities (Tables)
12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of available for sale securities from amortized cost to fair value
Amortized cost and approximate fair values of debt securities available for sale are summarized as follows:
December 31, 2021
Amortized
Cost
Gross UnrealizedEstimated
Fair Value
(in thousands)GainsLosses
U.S. government sponsored enterprise debt securities$443,892 $9,319 $(2,438)$450,773 
Corporate debt securities348,576 10,143 (929)357,790 
U.S. government agency debt securities362,323 1,953 (2,370)361,906 
U.S. treasury securities2,501 — 2,502 
Municipal bonds2,252 96 — 2,348 
 Total debt securities available for sale (1)$1,159,544 $21,512 $(5,737)$1,175,319 
__________________
(1)As of December 31, 2021, includes residential and commercial mortgage-backed securities with amortized cost of $654.7 million and $123.5 million, respectively, and fair value of $661.3 million and $123.8 million, respectively.

December 31, 2020
Amortized
Cost
Gross UnrealizedEstimated
Fair Value
(in thousands)GainsLosses
U.S. government sponsored enterprise debt securities$640,796 $21,546 $(1,007)$661,335 
Corporate debt securities292,033 10,787 (1,106)301,714 
U.S. government agency debt securities202,135 4,458 (2,015)204,578 
Municipal bonds50,309 4,635 — 54,944 
U.S. treasury securities2,505 — 2,512 
Total debt securities available for sale (1)$1,187,778 $41,433 $(4,128)$1,225,083 
__________________
(1)As of December 31, 2020, includes residential and commercial mortgage-backed securities with amortized cost of $647.0 million and $123.9 million, respectively, and fair value of $666.7 million and $128.4 million, respectively.
Schedule of realized gain (loss)
In the years ended December 31, 2021 and 2020, proceeds from sales, redemptions and calls, gross realized gains, gross realized losses of debt securities available for sale were as follows:
Years Ended December 31
(in thousands)20212020
Proceeds from sales, redemptions and calls of debt securities available for sale$114,923 $421,175 
Gross realized gains4,307 25,692 
Gross realized losses(33)(147)
Realized gains, net$4,274 $25,545 
Schedule of available for sale securities with unrealized losses
The Company’s investment in debt securities available for sale with unrealized losses that are deemed temporary, aggregated by length of time that individual securities have been in a continuous unrealized loss position, are summarized below:
December 31, 2021
Less Than 12 Months12 Months or MoreTotal
(in thousands)Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
U.S. government sponsored enterprise debt securities$54,562 $(1,434)$25,526 $(1,004)$80,088 $(2,438)
Corporate debt securities52,672 (259)10,286 (670)62,958 (929)
U.S. government agency debt securities200,051 (1,177)52,109 (1,193)252,160 (2,370)
$307,285 $(2,870)$87,921 $(2,867)$395,206 $(5,737)
December 31, 2020
Less Than 12 Months12 Months or MoreTotal
(in thousands)Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
U.S. government sponsored enterprise debt securities$71,825 $(661)$14,472 $(346)$86,297 $(1,007)
U.S. government agency debt securities9,254 (62)80,964 (1,953)90,218 (2,015)
Corporate debt securities31,777 (1,106)— — 31,777 (1,106)
$112,856 $(1,829)$95,436 $(2,299)$208,292 $(4,128)
Schedule of held to maturity securities
Amortized cost and approximate fair values of debt securities held to maturity are summarized as follows:
December 31, 2021
Amortized
Cost
Gross UnrealizedEstimated
Fair Value
(in thousands)GainsLosses
U.S. government agency debt securities$66,307 $62 $(363)$66,006 
U.S. government sponsored enterprise debt securities51,868 1,581 (378)53,071 
 Total debt securities held to maturity (1)$118,175 $1,643 $(741)$119,077 
__________________
(1)As of December 31, 2021, includes residential and commercial mortgage-backed securities with amortized cost of $89.4 million and $28.8 million, respectively, and fair value of $88.7 million and $30.4 million, respectively.

December 31, 2020
Amortized
Cost
Gross UnrealizedEstimated
Fair Value
(in thousands)GainsLosses
U.S. government agency debt securities$28,676 $809 $— $29,485 
U.S. government sponsored enterprise debt securities29,451 2,178 — 31,629 
 Total debt securities held to maturity (1)$58,127 $2,987 $— $61,114 
__________________
(1)As of December 31, 2020, includes residential and commercial mortgage-backed securities with amortized cost of $28.7 million and $29.5 million, respectively, and fair value of $29.5 million and $31.6 million, respectively.
The Company’s investment in debt securities held to maturity with unrealized losses that are deemed temporary, aggregated by length of time that individual securities have been in a continuous unrealized loss position, are summarized below:
December 31, 2021
Less Than 12 Months12 Months or MoreTotal
(in thousands)Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
Estimated
Fair Value
Unrealized
Loss
U.S. government agency debt securities$61,037 $(363)$— $— $61,037 $(363)
U.S. government sponsored enterprise debt securities22,669 (378)— — 22,669 (378)
$83,706 $(741)$— $— $83,706 $(741)
The were no unrealized losses on debt securities held to maturity at December 31, 2020.
Schedule of contractual maturities of securities
Contractual maturities of debt securities at December 31, 2021 are as follows:
Available for SaleHeld to Maturity
(in thousands)Amortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
Within 1 year$32,439 $32,706 $— $— 
After 1 year through 5 years115,340 116,975 9,343 9,293 
After 5 years through 10 years280,303 290,249 11,189 11,672 
After 10 years731,462 735,389 97,643 98,112 
$1,159,544 $1,175,319 $118,175 $119,077