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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Values of Investment Securities
The following table presents the amortized cost and estimated fair values of investment securities for the periods presented:
June 30, 2023
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Available for Sale(dollars in thousands)
U.S. Government securities$225,542 $ $(4,904)$220,638 
U.S. Government-sponsored agency securities1,044  (45)999 
State and municipal securities1,206,102 252 (152,446)1,053,908 
Corporate debt securities474,953  (50,574)424,379 
Collateralized mortgage obligations134,234  (13,776)120,458 
Residential mortgage-backed securities233,807 4 (28,923)204,888 
Commercial mortgage-backed securities640,928  (93,477)547,451 
   Total $2,916,610 $256 $(344,145)$2,572,721 
Held to Maturity
Residential mortgage-backed securities$431,704 $ $(56,114)$375,590 
Commercial mortgage-backed securities862,909  (151,807)711,102 
Total $1,294,613 $ $(207,921)$1,086,692 

December 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
Available for Sale(dollars in thousands)
U.S. Government securities$226,140 $— $(7,655)$218,485 
U.S. Government sponsored agency securities1,050 — (42)1,008 
State and municipal securities1,284,245 283 (178,816)1,105,712 
Corporate debt securities459,792 — (37,483)422,309 
Collateralized mortgage obligations147,155 — (13,122)134,033 
Residential mortgage-backed securities242,527 18 (29,847)212,698 
Commercial mortgage-backed securities631,604 — (79,082)552,522 
   Total $2,992,513 $301 $(346,047)$2,646,767 
Held to Maturity
Residential mortgage-backed securities$457,325 $— $(57,480)$399,845 
Commercial mortgage-backed securities863,931 — (138,727)725,204 
Total $1,321,256 $— $(196,207)$1,125,049 
Schedule of Amortized Cost and Fair Values of Debt Securities by Contractual Maturities
The amortized cost and estimated fair values of debt securities as of June 30, 2023, by contractual maturity, are shown in the following table. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
June 30, 2023
Available for SaleHeld to Maturity
 Amortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
 (dollars in thousands)
Due in one year or less$234,224 $229,237 $ $ 
Due from one year to five years90,789 87,328   
Due from five years to ten years545,358 494,049   
Due after ten years1,037,270 889,310   
1,907,641 1,699,924   
Residential mortgage-backed securities(1)
233,807 204,888 431,704 375,590 
Commercial mortgage-backed securities(1)
640,928 547,451 862,909 711,102 
Collateralized mortgage obligations(1)
134,234 120,458   
  Total$2,916,610 $2,572,721 $1,294,613 $1,086,692 
Summary of Gains and Losses from Equity and Debt Securities, and Losses Recognized from Other-than-Temporary Impairment
The following table presents information related to gross realized gains and losses on the sales of securities for the periods presented:
Gross Realized GainsGross Realized LossesNet  Gains (Losses)
Three months ended(dollars in thousands)
June 30, 2023$ $(4)$(4)
June 30, 2022— 
Six months ended
June 30, 2023$283 $(264)$19 
June 30, 20221,554 (1,527)27 
Gross Unrealized Losses and Fair Values of Investments by Category and Length of Time in Continuous Unrealized Loss Position
The following tables present the gross unrealized losses and estimated fair values of investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
June 30, 2023
Less than 12 months12 months or longerTotal
Number of SecuritiesEstimated
Fair Value
Unrealized
Losses
Number of SecuritiesEstimated
Fair Value
Unrealized
Losses
Estimated
Fair Value
Unrealized
Losses
Available for Sale(dollars in thousands)
U.S. Government securities $ $ 3 $220,638 $(4,904)$220,638 $(4,904)
U.S. Government-sponsored agency securities1999 (45)   999 (45)
State and municipal securities72 156,269 (3,092)302 869,492 (149,354)1,025,761 (152,446)
Corporate debt securities29 132,631 (11,734)42 288,993 (38,840)421,624 (50,574)
Collateralized mortgage obligations27 19,500 (1,543)67 100,958 (12,233)120,458 (13,776)
Residential mortgage-backed securities66 57,495 (3,864)29 146,358 (25,059)203,853 (28,923)
Commercial mortgage-backed securities61 86,631 (4,343)75 460,820 (89,134)547,451 (93,477)
Total available for sale256 $453,525 $(24,621)518 $2,087,259 $(319,524)$2,540,784 $(344,145)
Held to Maturity
Residential mortgage-backed securities99 $221,910 $(14,592)21 $153,680 $(41,522)$375,590 $(56,114)
Commercial mortgage-backed securities18 237,317 (22,707)42 473,785 (129,100)711,102 (151,807)
Total held to maturity117 $459,227 $(37,299)63 $627,465 $(170,622)$1,086,692 $(207,921)

December 31, 2022
Less than 12 months12 months or longerTotal
Number of SecuritiesEstimated
Fair Value
Unrealized
Losses
Number of SecuritiesEstimated
Fair Value
Unrealized
Losses
Estimated
Fair Value
Unrealized
Losses
Available for Sale(dollars in thousands)
U.S. Government Securities$96,906 $(2,814)$121,579 $(4,841)$218,485 $(7,655)
U.S. Government sponsored agency securities1,008 (42)— — — 1,008 (42)
State and municipal securities360 995,122 (157,397)29 61,089 (21,419)1,056,211 (178,816)
Corporate debt securities66 376,398 (31,333)37,157 (6,150)413,555 (37,483)
Collateralized mortgage obligations96 113,191 (7,650)20,842 (5,472)134,033 (13,122)
Residential mortgage-backed securities81 154,861 (18,301)55,293 (11,546)210,154 (29,847)
Commercial mortgage-backed securities114 371,109 (38,845)20 181,413 (40,237)552,522 (79,082)
Total available for sale719 $2,108,595 $(256,382)63 $477,373 $(89,665)$2,585,968 $(346,047)
Held to Maturity
Residential mortgage-backed securities106 $246,667 $(14,275)14 $153,178 $(43,205)$399,845 $(57,480)
Commercial mortgage-backed securities21 258,255 (24,029)39 466,949 (114,698)725,204 (138,727)
    Total held to maturity127 $504,922 $(38,304)53 $620,127 $(157,903)$1,125,049 $(196,207)