Securities (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Securities Available-for-Sale

The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale were as follows:

Securities Available-for-Sale:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
March 31, 2023
U.S. Treasury	$	1,984	$	1	$	—	$	—	$	1,985
Obligations of State and Political Subdivisions	917,686		1,201		(138,247)		—		780,640
MBS/CMO	811,898		—		(119,542)		—		692,356
US Gov’t Sponsored Entities & Agencies	230,099		—		(34,824)		—		195,275
Total	$	1,961,667	$	1,202	$	(292,613)	$	—	$	1,670,256
December 31, 2022
U.S. Treasury	$	64,097	$	22	$	—	$	—	$	64,119
Obligations of State and Political Subdivisions	939,193		673		(162,014)		—		777,852
MBS/CMO	846,519		—		(131,838)		—		714,681
US Gov’t Sponsored Entities & Agencies	245,017		—		(40,000)		—		205,017
Total	$	2,094,826	$	695	$	(333,852)	$	—	$	1,761,669

Schedule of Securities by Contractual Maturity

The amortized cost and fair value of Securities at March 31, 2023 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed Securities are not due at a single maturity date and are shown separately.

Securities Available-for-Sale:	Amortized Cost		Fair Value
Due in one year or less	$	4,154	$	4,156
Due after one year through five years	14,968		15,055
Due after five years through ten years	56,769		55,364
Due after ten years	843,779		708,050
MBS/CMO	811,898		692,356
US Gov’t Sponsored Entities & Agencies	230,099		195,275
Total	$	1,961,667	$	1,670,256

Schedule of Proceeds from the Sales of Securities

Proceeds from the Sales of Securities are summarized below:

	Three Months Ended		Three Months Ended
	March 31, 2023		March 31, 2022
Proceeds from Sales	$	93,752	$	91,946
Gross Gains on Sales	2		372
Income Taxes on Gross Gains	—		78

Schedule of Securities with Unrealized Losses

Below is a summary of securities with unrealized losses as of March 31, 2023 and December 31, 2022, presented by length of time the securities have been in a continuous unrealized loss position:

	Less than 12 Months				12 Months or More				Total
March 31, 2023	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	89,866		(3,578)		597,155		(134,669)		687,021		(138,247)
MBS/CMO	64,508		(3,421)		627,839		(116,121)		692,347		(119,542)
US Gov’t Sponsored Entities & Agencies	11,115		(777)		184,161		(34,047)		195,276		(34,824)
Total	$	165,489	$	(7,776)	$	1,409,155	$	(284,837)	$	1,574,644	$	(292,613)

	Less than 12 Months				12 Months or More				Total
December 31, 2022	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. Treasury	$	—	$	—	$	—	$	—	$	—	$	—
Obligations of State and Political Subdivisions	579,267		(117,423)		122,992		(44,591)		702,259		(162,014)
MBS/CMO	240,344		(20,920)		474,327		(110,918)		714,671		(131,838)
US Gov’t Sponsored Entities & Agencies	198,702		(38,818)		6,314		(1,182)		205,016		(40,000)
Total	$	1,018,313	$	(177,161)	$	603,633	$	(156,691)	$	1,621,946	$	(333,852)