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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Summary of Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Value of Investment Securities
The following tables summarize the amortized cost, gross unrealized gains and losses and approximate fair value of investment securities available for sale as of June 30, 2024 and December 31, 2023.

 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Available for sale at June 30, 2024    
U.S. Government-sponsored agency securities$108,842 $— $17,565 $91,277 
State and municipal1,178,364 25 153,482 1,024,907 
U.S. Government-sponsored mortgage-backed securities584,055 376 93,777 490,654 
Corporate obligations12,954 — 899 12,055 
Total available for sale$1,884,215 $401 $265,723 $1,618,893 

 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Available for sale at December 31, 2023    
U.S. Government-sponsored agency securities$111,521 $— $16,214 $95,307 
State and municipal1,181,029 364 116,222 1,065,171 
U.S. Government-sponsored mortgage-backed securities541,343 462 86,990 454,815 
Corporate obligations12,947 — 1,128 11,819 
Total available for sale$1,846,840 $826 $220,554 $1,627,112 
The following tables summarize the amortized cost, gross unrealized gains and losses, approximate fair value and allowance for credit losses on investment securities held to maturity as of June 30, 2024 and December 31, 2023.

Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Held to maturity at June 30, 2024   
U.S. Government-sponsored agency securities$365,081 $— $365,081 $— $66,005 $299,076 
State and municipal1,091,714 245 1,091,469 300 183,892 908,122 
U.S. Government-sponsored mortgage-backed securities676,145 — 676,145 — 105,607 570,538 
Foreign investment1,500 — 1,500 — 20 1,480 
Total held to maturity$2,134,440 $245 $2,134,195 $300 $355,524 $1,779,216 


Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Held to maturity at December 31, 2023    
U.S. Government-sponsored agency securities$374,002 $— $374,002 $— $64,159 $309,843 
State and municipal1,099,201 245 1,098,956 1,625 152,113 948,713 
U.S. Government-sponsored mortgage-backed securities709,794 — 709,794 — 99,448 610,346 
Foreign investment1,500 — 1,500 — 28 1,472 
Total held to maturity$2,184,497 $245 $2,184,252 $1,625 $315,748 $1,870,374 
Summary of Amortized Cost of Investment Securities Held to Maturity Aggregated by Credit Quality Indicator
On a quarterly basis, the Corporation monitors the credit quality of investment securities held to maturity through the use of credit ratings. The following table summarizes the amortized cost of investment securities held to maturity at June 30, 2024, aggregated by credit quality indicator.
Held to Maturity
State and municipalOtherTotal
Credit Rating:
Aaa$113,341 $70,588 $183,929 
Aa1161,380 — 161,380 
Aa2167,506 — 167,506 
Aa3133,319 — 133,319 
A1131,193 — 131,193 
A216,839 — 16,839 
A33,470 — 3,470 
Non-rated364,666 972,138 1,336,804 
Total$1,091,714 $1,042,726 $2,134,440 
Summary of Investment Securities in a Continuous Unrealized Loss Position
The following tables summarize, as of June 30, 2024 and December 31, 2023, investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and length of time in a continuous unrealized loss position.
Less than 12 Months12 Months or LongerTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Investment securities available for sale at June 30, 2024
U.S. Government-sponsored agency securities$— $— $91,277 $17,565 $91,277 $17,565 
State and municipal50,145 2,900 973,117 150,582 1,023,262 153,482 
U.S. Government-sponsored mortgage-backed securities57,352 903 399,051 92,874 456,403 93,777 
Corporate obligations— — 12,024 899 12,024 899 
Total investment securities available for sale$107,497 $3,803 $1,475,469 $261,920 $1,582,966 $265,723 

 
Less than 12 Months12 Months or LongerTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Investment securities available for sale at December 31, 2023
U.S. Government-sponsored agency securities$— $— $95,307 $16,214 $95,307 $16,214 
State and municipal55,514 1,076 963,584 115,146 1,019,098 116,222 
U.S. Government-sponsored mortgage-backed securities11,493 25 422,868 86,965 434,361 86,990 
Corporate obligations— — 11,788 1,128 11,788 1,128 
Total investment securities available for sale$67,007 $1,101 $1,493,547 $219,453 $1,560,554 $220,554 


The following tables summarize investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and the number of securities in the portfolio as of the dates indicated.

Gross
Unrealized
Losses		Number of Securities
Investment securities available for sale at June 30, 2024
U.S. Government-sponsored agency securities$17,565 14
State and municipal153,482 725
U.S. Government-sponsored mortgage-backed securities93,777 161
Corporate obligations899 10
Total investment securities available for sale$265,723 910 
Gross
Unrealized
Losses		Number of Securities
Investment securities available for sale at December 31, 2023
U.S. Government-sponsored agency securities$16,214 14
State and municipal116,222 691
U.S. Government-sponsored mortgage-backed securities86,990 150
Corporate obligations1,128 10
Total investment securities available for sale$220,554 865 
Summary of Investments in Debt and Equity Securities Reported in the Financial Statements at an Amount Less Than Their Historical Cost
Certain investment securities available for sale are reported in the financial statements at an amount less than their historical cost as indicated in the table below.
June 30, 2024December 31, 2023
Investments available for sale reported at less than historical cost:  
Historical cost$1,848,689 $1,781,108 
Fair value1,582,966 1,560,554 
Gross unrealized losses$265,723 $220,554 
Percent of the Corporation's investments available for sale97.8 %95.9 %
Summary of Amortized Cost and Fair Value of Available for Sale Securities and Held to Maturity Securities by Contractual Maturity
The amortized cost and fair value of investment securities available for sale and held to maturity at June 30, 2024 and December 31, 2023, by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity are shown separately.

 Available for SaleHeld to Maturity
 Amortized CostFair ValueAmortized CostFair Value
Maturity Distribution at June 30, 2024    
Due in one year or less$2,402 $2,383 $13,380 $13,249 
Due after one through five years24,675 22,920 113,750 106,226 
Due after five through ten years160,390 144,580 139,308 125,618 
Due after ten years1,112,693 958,356 1,191,857 963,585 
 1,300,160 1,128,239 1,458,295 1,208,678 
U.S. Government-sponsored mortgage-backed securities584,055 490,654 676,145 570,538 
Total investment securities$1,884,215 $1,618,893 $2,134,440 $1,779,216 

Available for SaleHeld to Maturity
Amortized CostFair ValueAmortized CostFair Value
Maturity Distribution at December 31, 2023    
Due in one year or less$1,390 $1,382 $3,041 $3,043 
Due after one through five years24,899 23,372 118,592 111,723 
Due after five through ten years127,948 120,385 135,805 126,461 
Due after ten years1,151,260 1,027,158 1,217,265 1,018,801 
 1,305,497 1,172,297 1,474,703 1,260,028 
U.S. Government-sponsored mortgage-backed securities541,343 454,815 709,794 610,346 
Total investment securities$1,846,840 $1,627,112 $2,184,497 $1,870,374 
Summary of Gross Gains and Losses on Sales and Redemptions of Available for Sale Securities
Gross gains and losses on the sales and redemptions of investment securities available for sale for the three and six months ended June 30, 2024 and 2023 are shown below.
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Sales and redemptions of investment securities available for sale:    
Gross gains$— $151 $— $759 
Gross losses(49)(1,543)(51)(3,722)
Net gains (losses) on sales and redemptions of investment securities available for sale$(49)$(1,392)$(51)$(2,963)