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INVESTMENT SECURITIES (Tables)
3 Months Ended
Mar. 31, 2024
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
March 31, 2024
U.S. Treasuries$712,985 $— $$(11,697)$701,296 
U.S. government-sponsored agencies1,020 — — (40)980 
State, county and municipal securities28,136 — (1,137)27,004 
Corporate debt securities10,946 (73)— (859)10,014 
SBA pool securities80,164 — (1,737)78,429 
Mortgage-backed securities631,284 — 24 (34,612)596,696 
Total debt securities available-for-sale$1,464,535 $(73)$39 $(50,082)$1,414,419 
December 31, 2023
U.S. Treasuries$732,636 $— $34 $(11,793)$720,877 
U.S. government-sponsored agencies1,023 — — (38)985 
State, county and municipal securities28,986 — (944)28,051 
Corporate debt securities10,946 (69)— (850)10,027 
SBA pool securities53,033 — (1,519)51,516 
Mortgage-backed securities621,013 — 67 (29,592)591,488 
Total debt securities available-for-sale$1,447,637 $(69)$112 $(44,736)$1,402,944 
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
March 31, 2024
State, county and municipal securities$33,668 $$(5,693)$27,977 
Mortgage-backed securities113,354 29 (14,779)98,604 
Total debt securities held-to-maturity$147,022 $31 $(20,472)$126,581 
December 31, 2023
State, county and municipal securities$31,905 $— $(5,051)$26,854 
Mortgage-backed securities109,607 — (13,730)95,877 
Total debt securities held-to-maturity$141,512 $— $(18,781)$122,731 
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 March 31, 2024, 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$306,980 $305,330 $— $— 
Due from one year to five years440,409 429,292 — — 
Due from five to ten years73,709 72,350 — — 
Due after ten years12,153 10,751 33,668 27,977 
Mortgage-backed securities631,284 596,696 113,354 98,604 
 $1,464,535 $1,414,419 $147,022 $126,581 
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 March 31, 2024 and December 31, 2023:

 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
March 31, 2024      
U.S. Treasuries$133,526 $(1,129)$562,763 $(10,568)$696,289 $(11,697)
U.S. government-sponsored agencies— — 980 (40)980 (40)
State, county and municipal securities5,362 (10)19,502 (1,127)24,864 (1,137)
Corporate debt securities499 (1)8,515 (858)9,014 (859)
SBA pool securities58,947 (147)19,333 (1,590)78,280 (1,737)
Mortgage-backed securities47,179 (289)548,200 (34,323)595,379 (34,612)
Total debt securities available-for-sale$245,513 $(1,576)$1,159,293 $(48,506)$1,404,806 $(50,082)
December 31, 2023      
U.S. Treasuries$159,667 $(827)$537,313 $(10,966)$696,980 $(11,793)
U.S. government sponsored agencies— — 985 (38)985 (38)
State, county and municipal securities1,923 — 19,754 (944)21,677 (944)
Corporate debt securities500 — 8,527 (850)9,027 (850)
SBA pool securities42 — 21,267 (1,519)21,309 (1,519)
Mortgage-backed securities126 — 566,707 (29,592)566,833 (29,592)
Total debt securities available-for-sale$162,258 $(827)$1,154,553 $(43,909)$1,316,811 $(44,736)
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 March 31, 2024 and December 31, 2023:

 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
March 31, 2024
State, county and municipal securities$453 $(6)$26,217 $(5,687)$26,670 $(5,693)
Mortgage-backed securities8,282 (266)85,738 (14,513)94,020 (14,779)
Total debt securities held-to-maturity$8,735 $(272)$111,955 $(20,200)$120,690 $(20,472)
December 31, 2023
State, county and municipal securities$— $— $26,854 $(5,051)$26,854 $(5,051)
Mortgage-backed securities13,612 (227)82,265 (13,503)95,877 (13,730)
Total debt securities held-to-maturity$13,612 $(227)$109,119 $(18,554)$122,731 $(18,781)
Schedule of Investments Available-for-sale, Allowance for Credit Loss The remaining $50.1 million in unrealized loss was determined to be from factors other than credit.
(dollars in thousands)Three Months Ended March 31,
Allowance for credit losses
20242023
Beginning balance$69 $75 
Provision for other credit losses
Ending balance$73 $82 
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 months ended March 31, 2024 and 2023:

Three Months Ended March 31,
(dollars in thousands)20242023
Unrealized holding gains (losses) on equity securities$(7)$
Net gain (loss) on securities$(7)$