
	June 30, 2022
	Amortized Cost		Gross Unrealized				Estimated Fair Value
(in thousands)			Gains		Losses
U.S. government-sponsored enterprise debt securities (1) (2)	$	452,019	$	548	$	(25,286)	$	427,281
Corporate debt securities (2)	352,603		350		(18,937)		334,016
U.S. government agency debt securities (1) (2)	385,081		167		(29,404)		355,844

Collateralized loan obligations	5,000		—		(225)		4,775
Municipal bonds (1)	1,917		—		(22)		1,895
U.S. treasury securities	994		—		(4)		990

Total debt securities available for sale	$	1,197,614	$	1,065	$	(73,878)	$	1,124,801

(1)Includes residential mortgage-backed securities. As of June 30, 2022, we had total residential-mortgage backed securities, included as part of total debt securities available for sale, with amortized cost of $708.8 million and fair value of $661.4 million.

(2)Includes commercial mortgage-backed securities. As of June 30, 2022, we had total commercial mortgage-backed securities, included as part of total debt securities available for sale, with amortized cost of $112.0 million and fair value of $104.1 million.


	December 31, 2021
	Amortized Cost		Gross Unrealized				Estimated Fair Value
(in thousands)			Gains		Losses
U.S. government sponsored enterprise debt securities (1) (2)	$	443,892	$	9,319	$	(2,438)	$	450,773
Corporate debt securities (2)	348,576		10,143		(929)		357,790
U.S. government agency debt securities (1) (2)	362,323		1,953		(2,370)		361,906

U.S. treasury securities	2,501		1		—		2,502
Municipal bonds (1)	2,252		96		—		2,348
Total debt securities available for sale	$	1,159,544	$	21,512	$	(5,737)	$	1,175,319

(1)Includes residential mortgage-backed securities. As of December 31, 2021, we had total residential-mortgage backed securities, included as part of total debt securities available for sale, with amortized cost of $654.7 million and fair value of $661.3 million.

(2)Includes residential mortgage-backed securities. As of December 31, 2021, we had total commercial mortgage-backed securities, included as part of total debt securities available for sale, with amortized cost of $123.5 million and fair value of $123.8 million.

The Company had investments in foreign corporate debt securities available for sale, primarily in Canada, of $10.1 million and $12.5 million at June 30, 2022 and December 31, 2021, respectively. At June 30, 2022 and December 31, 2021, the Company had no foreign sovereign or foreign government agency debt securities available for sale. Investments in foreign corporate debt securities available for sale are denominated in U.S. Dollars.


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Proceeds from sales, redemptions and calls of debt securities available for sale	$	145	$	29,261	$	14,158	$	73,115

Gross realized gains	$	—	$	1,254	$	49	$	4,201
Gross realized losses	—		—		—		—
Realized gains, net on sales of debt investment securities	$	—	$	1,254	$	49	$	4,201

The Company’s investment in debt securities available for sale with unrealized losses that are deemed temporary, aggregated by the length of time that individual securities have been in a continuous unrealized loss position, are summarized below:


	June 30, 2022
	Less Than 12 Months					12 Months or More					Total
(in thousands, except securities count)	Number of Securities	Estimated Fair Value		Unrealized Loss		Number of Securities	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
U.S. government-sponsored enterprise debt securities	214	$	358,450	$	(20,844)	59	$	27,285	$	(4,442)	$	385,735	$	(25,286)
Corporate debt securities	59	281,759		(17,673)		3	9,695		(1,264)		291,454		(18,937)
U.S. government agency debt securities	68	233,494		(20,012)		83	112,706		(9,391)		346,200		(29,404)
Municipal bonds	3	1,895		(22)		—	—		—		1,895		(22)

U.S. treasury securities	1	991		(4)		—	—		—		991		(4)
Collateralized loan obligations	1	4,775		(225)		—	—		—		4,775		(225)
	346	$	881,364	$	(58,780)	145	$	149,686	$	(15,097)	$	1,031,050	$	(73,878)


	December 31, 2021
	Less Than 12 Months					12 Months or More					Total
(in thousands, except securities count)	Number of Securities	Estimated Fair Value		Unrealized Loss		Number of Securities	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
U.S. government sponsored enterprise debt securities	29	$	54,562	$	(1,434)	59	$	25,526	$	(1,004)	$	80,088	$	(2,438)
Corporate debt securities	8	52,672		(259)		3	10,286		(670)		62,958		(929)
U.S. government agency debt securities	35	200,051		(1,177)		69	52,109		(1,193)		252,160		(2,370)



	72	$	307,285	$	(2,870)	131	$	87,921	$	(2,867)	$	395,206	$	(5,737)

At June 30, 2022 and December 31, 2021, the Company held certain debt securities issued or guaranteed by the U.S. government and U.S. government-sponsored entities and agencies. The Company believes these issuers present little credit risk. The Company considers these securities are not other-than-temporarily impaired because the decline in fair value is attributable to changes in interest rates and investment securities markets, generally, and not credit quality. The Company does not intend to sell these debt securities and it is more likely than not that it will not be required to sell the securities before their anticipated recovery.

Investments in corporate debt available for sale as of June 30, 2022 include securities considered “investment-grade-quality” primarily issued by financial institutions, with a fair value of $257.0 million ($43.4 million at December 31, 2021), which had total unrealized losses of $15.2 million at that date ($0.3 million at December 31, 2021); and securities considered “non-investment-grade-quality” from issuers in the mortgage, communications, and technology industries, with a fair value of $34.5 million ($19.6 million at December 31, 2021), which had total unrealized losses of $3.7 million at that date ($0.6 million at December 31, 2021). Unrealized losses on corporate debt securities and municipal bonds are attributable to changes in interest rates and investment securities markets, generally, and as a result, temporary in nature. The Company considers these securities are not other-than-temporarily impaired because the issuers of these debt securities are considered to be high quality, and generally present little credit risk. The Company does not intend to sell these investments and it is more likely than not that it will not be required to sell these investments before their anticipated recovery.


	June 30, 2022
	Amortized Cost		Gross Unrealized				Estimated Fair Value
(in thousands)			Gains		Losses
U.S. government agency debt securities (1)	$	61,818	$	—	$	(5,512)	$	56,306
U.S. government sponsored enterprise debt securities(1) (2)	176,803		—		(6,585)		170,218
Total debt securities held to maturity	$	238,621	$	—	$	(12,097)	$	226,524

(1)Includes residential mortgage-backed securities. As of June 30, 2022, we had total residential mortgage-backed securities, included as part of total debt securities held to maturity, with amortized cost of $210.1 million and fair value of $199.8 million.

(2)Includes commercial mortgage-backed securities. As of June 30, 2022, we had total commercial mortgage-backed securities, included as part of total debt securities held to maturity, with amortized cost of $28.5 million and fair value of $26.6 million.


	December 31, 2021
	Amortized Cost		Gross Unrealized				Estimated Fair Value
(in thousands)			Gains		Losses
U.S. government agency debt securities (1)	$	66,307	$	62	$	(363)	$	66,006
U.S. government sponsored enterprise debt securities (1) (2)	51,868		1,581		(378)		53,071
Total debt securities held to maturity	$	118,175	$	1,643	$	(741)	$	119,077

(1)Includes residential mortgage-backed securities. As of December 31, 2021,we had total residential mortgage-backed securities, included as part of total debt securities held to maturity, with amortized cost of $89.4 million and fair value of $88.7 million.


	June 30, 2022
	Less Than 12 Months					12 Months or More					Total
(in thousands)	Number of Securities	Estimated Fair Value		Unrealized Loss		Number of Securities	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
U.S. government agency debt securities	11	$	54,810	$	(5,459)	1	$	1,496	$	(53)	$	56,306	$	(5,512)
U.S. government sponsored enterprise debt securities	33	161,295		(4,326)		1	8,923		(2,259)		170,218		(6,585)
	44	$	216,105	$	(9,785)	2	$	10,419	$	(2,312)	$	226,524	$	(12,097)


	December 31, 2021
	Less Than 12 Months					12 Months or More					Total
(in thousands)	Number of Securities	Estimated Fair Value		Unrealized Loss		Number of Securities	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
U.S. government agency debt securities	11	$	61,037	$	(363)	—	$	—	$	—	$	61,037	$	(363)
U.S. government sponsored enterprise debt securities	2	22,669		(378)		—	—		—		22,669		(378)
	13	$	83,706	$	(741)	—	$	—	$	—	$	83,706	$	(741)


	Available for Sale				Held to Maturity
(in thousands)	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Within 1 year	$	20,380	$	20,391	$	—	$	—
After 1 year through 5 years	91,671		89,715		7,170		6,366
After 5 years through 10 years	307,508		290,983		13,339		12,732
After 10 years	778,055		723,712		218,112		207,426

	$	1,197,614	$	1,124,801	$	238,621	$	226,524

As of June 30, 2022 and December 31, 2021, the Company had equity securities with readily available fair value not held for trading with an original cost of $12.7 million and $0.3 million, and fair value of $10.8 million $0.3 million, respectively. These equity securities have no stated maturities. The Company recognized net unrealized losses of $2.6 million and gains of $22 thousand in the three months ended June 30, 2022 and 2021, respectively, and unrealized losses of $1.9 million and unrealized losses of $0.4 million in the six months ended June 30, 2022 and 2021, respectively, related to the change in market value of these equity securities.

As of June 30, 2022 and December 31, 2021, the Company had $179.5 million and $142.8 million, respectively, in securities pledged as collateral. These securities were pledged to secure advances from the Federal Home Loan Bank, public funds and for other purposes as permitted by law.