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INVESTMENT SECURITIES (Tables)
6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale
The amortized cost and estimated fair value of securities available-for-sale along with gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
Securities available-for-sale
Amortized
Cost
Allowance for Credit LossesGross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
June 30, 2023
U.S. Treasuries$779,382 $— $— $(20,716)$758,666 
U.S. government-sponsored agencies1,029 — — (57)972 
State, county and municipal securities33,340 — (1,113)32,228 
Corporate debt securities15,897 (82)— (760)15,055 
SBA pool securities25,799 — (1,976)23,826 
Mortgage-backed securities669,371 — 16 (39,778)629,609 
Total debt securities available-for-sale$1,524,818 $(82)$20 $(64,400)$1,460,356 
December 31, 2022
U.S. Treasuries$775,784 $— $131 $(16,381)$759,534 
U.S. government-sponsored agencies1,036 — — (57)979 
State, county and municipal securities35,358 — 17 (1,180)34,195 
Corporate debt securities16,397 (75)— (396)15,926 
SBA pool securities29,422 — (2,027)27,398 
Mortgage-backed securities701,008 — 113 (39,093)662,028 
Total debt securities available-for-sale$1,559,005 $(75)$264 $(59,134)$1,500,060 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities Held-to-Maturity
The amortized cost and estimated fair value of securities held-to-maturity along with gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
Securities held-to-maturity
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
June 30, 2023
State, county and municipal securities$31,905 $— $(5,297)$26,608 
Mortgage-backed securities110,608 — (15,325)95,283 
Total debt securities held-to-maturity$142,513 $— $(20,622)$121,891 
December 31, 2022
State, county and municipal securities$31,905 $— $(5,380)$26,525 
Mortgage-backed securities102,959 — (14,946)88,013 
Total debt securities held-to-maturity$134,864 $— $(20,326)$114,538 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities, Classified by Contractual Maturity Date The amortized cost and estimated fair value of debt securities available-for-sale and held-to-maturity as of June 30, 2023, by contractual maturity are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because
the mortgages underlying these securities may be called or repaid without penalty. Therefore, these securities are not included in the maturity categories in the following maturity summary:

Available-for-SaleHeld-to-Maturity
(dollars in thousands)
Amortized
Cost
Estimated Fair ValueAmortized
Cost
Estimated Fair Value
Due in one year or less$95,908 $94,723 $— $— 
Due from one year to five years724,844 704,037 — — 
Due from five to ten years12,849 12,129 — — 
Due after ten years21,846 19,858 31,905 26,608 
Mortgage-backed securities669,371 629,609 110,608 95,283 
 $1,524,818 $1,460,356 $142,513 $121,891 
Schedule of Available-for-Sale Securities with Unrealized Losses
The following table shows the gross unrealized losses and estimated fair value of available-for-sale securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at June 30, 2023 and December 31, 2022:

 Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities available-for-sale
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
June 30, 2023      
U.S. Treasuries$522,853 $(11,833)$235,813 $(8,883)$758,666 $(20,716)
U.S. government-sponsored agencies— — 972 (57)972 (57)
State, county and municipal securities19,141 (337)12,002 (776)31,143 (1,113)
Corporate debt securities867 (30)13,188 (730)14,055 (760)
SBA pool securities465 (28)23,198 (1,948)23,663 (1,976)
Mortgage-backed securities328,380 (16,691)299,788 (23,087)628,168 (39,778)
Total debt securities available-for-sale$871,706 $(28,919)$584,961 $(35,481)$1,456,667 $(64,400)
December 31, 2022      
U.S. Treasuries$725,250 $(16,381)$— $— $725,250 $(16,381)
U.S. government sponsored agencies979 (57)— — 979 (57)
State, county and municipal securities27,438 (1,180)— — 27,438 (1,180)
Corporate debt securities13,271 (126)1,155 (270)14,426 (396)
SBA pool securities17,806 (1,298)9,329 (729)27,135 (2,027)
Mortgage-backed securities620,544 (37,774)16,847 (1,319)637,391 (39,093)
Total debt securities available-for-sale$1,405,288 $(56,816)$27,331 $(2,318)$1,432,619 $(59,134)
Schedule of Held-to-Maturity Securities with Unrealized Losses
The following table shows the gross unrealized losses and estimated fair value of held-to-maturity securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at June 30, 2023 and December 31, 2022:

 Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities held-to-maturity
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
June 30, 2023
State, county and municipal securities$7,486 $(514)$19,122 $(4,783)$26,608 $(5,297)
Mortgage-backed securities31,528 (1,270)63,755 (14,055)95,283 (15,325)
Total debt securities held-to-maturity$39,014 $(1,784)$82,877 $(18,838)$121,891 $(20,622)
December 31, 2022
State, county and municipal securities$16,512 $(1,488)$10,013 $(3,892)$26,525 $(5,380)
Mortgage-backed securities32,471 (1,925)55,542 (13,021)88,013 (14,946)
Total debt securities held-to-maturity$48,983 $(3,413)$65,555 $(16,913)$114,538 $(20,326)
Schedule of Investments Available-for-sale, Allowance for Credit Loss The remaining $64.4 million in unrealized loss was determined to be from factors other than credit.
(dollars in thousands)Three Months Ended June 30,Six Months Ended June 30,
Allowance for credit losses
2023202220232022
Beginning balance$82 $— $75 $— 
Provision for other credit losses— 88 88 
Ending balance$82 $88 $82 $88 
Schedule of Gain (Loss) on Investments
Total net gain (loss) on securities reported on the consolidated statements of income and comprehensive income is comprised of the following for the three and six months ended June 30, 2023 and 2022:

Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2023202220232022
Unrealized holding gains (losses) on equity securities$(6)$(22)$— $(49)
Net realized gains on sales of other investments— 270 — 270 
Net gain (loss) on securities$(6)$248 $— $221