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Securities
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
(In Thousands, Except Number of Securities)
The amortized cost and fair value of securities available for sale were as follows as of the dates presented:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2022
Obligations of other U.S. Government agencies and corporations$170,000 $— $(5,340)$164,660 
Obligations of states and political subdivisions154,066 204 (9,368)144,902 
Residential mortgage backed securities:
Government agency mortgage backed securities508,415 37 (52,036)456,416 
Government agency collateralized mortgage obligations605,033 — (103,864)501,169 
Commercial mortgage backed securities:
Government agency mortgage backed securities11,166 — (1,053)10,113 
Government agency collateralized mortgage obligations211,435 — (25,589)185,846 
Other debt securities74,885 — (4,049)70,836 
$1,735,000 $241 $(201,299)$1,533,942 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2021
U.S. Treasury securities$3,007 $3 $— $3,010 
Obligations of states and political subdivisions153,847 5,532 (269)159,110 
Residential mortgage backed securities:
Government agency mortgage backed securities967,497 7,854 (6,816)968,535 
Government agency collateralized mortgage obligations1,008,514 457 (20,371)988,600 
Commercial mortgage backed securities:
Government agency mortgage backed securities14,717 365 (1)15,081 
Government agency collateralized mortgage obligations216,859 812 (3,419)214,252 
Other debt securities36,515 1,097 (148)37,464 
$2,400,956 $16,120 $(31,024)$2,386,052 
The amortized cost and fair value of securities held to maturity were as follows as of the dates presented:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2022
Obligations of states and political subdivisions$291,886 $17 $(48,325)$243,578 
Residential mortgage backed securities
Government agency mortgage backed securities483,560 — (24,432)459,128 
Government agency collateralized mortgage obligations423,315 — (30,706)392,609 
Commercial mortgage backed securities
Government agency mortgage backed securities17,006 — (3,261)13,745 
Government agency collateralized mortgage obligations45,430 — (6,559)38,871 
Other debt securities62,875 — (4,266)58,609 
$1,324,072 $17 $(117,549)$1,206,540 
Allowance for credit losses - held to maturity securities(32)
Held-to-maturity securities, net of allowance for credit losses$1,324,040 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2021
Obligations of states and political subdivisions$267,641 $333 $(685)$267,289 
Residential mortgage backed securities
Government agency mortgage backed securities60,507 1 (198)60,310 
Government agency collateralized mortgage obligations24,832 — (92)24,740 
Commercial mortgage backed securities
Government agency mortgage backed securities1,855 — — 1,855 
Government agency collateralized mortgage obligations39,505 — (117)39,388 
Other debt securities22,049 — (79)21,970 
$416,389 $334 $(1,171)$415,552 
Allowance for credit losses - held to maturity securities(32)
Held-to-maturity securities, net of allowance for credit losses$416,357 
During the year ended December 31, 2022, the Company transferred, at fair value, $882,927 of securities from the available for sale portfolio to the held to maturity portfolio. The related net unrealized loss of $99,675 (after tax loss of $74,307) remained in accumulated other comprehensive income (loss) and will be amortized over the remaining life of the securities, offsetting the related amortization of discount on the transferred securities. No gains or losses were recognized at the time of transfer.
There were no available for sale securities sold during the year ended December 31, 2022. Available for sale securities sold were as follows for the periods presented:
Carrying ValueNet ProceedsGain/(Loss)
Twelve months ended December 31, 2021
Obligations of states and political subdivisions$47 $49 $2 
Residential mortgage backed securities:
Government agency mortgage backed securities145,572 149,473 3,901 
Government agency collateralized mortgage obligations12,362 12,562 200 
Trust preferred securities12,021 9,961 (2,060)
Other debt securities4,283 4,410 127 
$174,285 $176,455 $2,170 
Carrying ValueNet ProceedsGain/(Loss)
Twelve months ended December 31, 2020
Obligations of states and political subdivisions$2,696 $2,561 $(135)
Residential mortgage backed securities:
Government agency mortgage backed securities16,093 16,294 201 
Government agency collateralized mortgage obligations26,071 26,051 (20)
$44,860 $44,906 $46 
Gross realized gains and gross realized losses on sales of securities available for sale were as follows for the periods presented:
 Year Ended December 31,
 20212020
Gross gains on sales of securities available for sale$4,322 $230 
Gross losses on sales of securities available for sale(2,152)(184)
Gains on sales of securities available for sale, net$2,170 $46 
At December 31, 2022 and 2021, securities with a carrying value of approximately $824,417 and $607,681, respectively, were pledged to secure government, public, trust, and other deposits. Securities with a carrying value of $18,184 and $21,493 were pledged as collateral for short-term borrowings and derivative instruments at December 31, 2022 and 2021, respectively.
The amortized cost and fair value of securities at December 31, 2022 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.
 Held to MaturityAvailable for Sale
 Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due within one year$150 $149 $9,393 $9,377 
Due after one year through five years3,351 3,162 228,812 222,940 
Due after five years through ten years53,650 46,253 75,549 71,029 
Due after ten years234,720 194,000 75,078 67,926 
Residential mortgage backed securities:
Government agency mortgage backed securities483,560 459,128 508,415 456,416 
Government agency collateralized mortgage obligations423,315 392,609 605,033 501,169 
Commercial mortgage backed securities:
Government agency mortgage backed securities17,006 13,745 11,166 10,113 
Government agency collateralized mortgage obligations45,430 38,871 211,435 185,846 
Other debt securities62,890 58,623 10,119 9,126 
$1,324,072 $1,206,540 $1,735,000 $1,533,942 
The following tables present the gross unrealized losses and fair value of investment securities, aggregated by investment category and the length of time the investments have been in a continuous unrealized loss position, as of the dates presented:
 Less than 12 Months12 Months or MoreTotal
 #Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses
Available for Sale:
December 31, 2022
Obligations of other U.S. Government agencies and corporations5$164,660 $(5,340)—$— $— 5$164,660 $(5,340)
Obligations of states and political subdivisions8496,939 (4,869)1133,038 (4,499)95129,977 (9,368)
Residential mortgage backed securities:
Government agency mortgage backed securities97214,516 (15,115)29237,970 (36,921)126452,486 (52,036)
Government agency collateralized mortgage obligations16109,753 (8,552)36391,416 (95,312)52501,169 (103,864)
Commercial mortgage backed securities:
Government agency mortgage backed securities410,114 (1,053)—— — 410,114 (1,053)
Government agency collateralized mortgage obligations1667,026 (3,828)21118,821 (21,760)37185,847 (25,588)
Other debt securities2563,423 (3,167)17,412 (883)2670,835 (4,050)
Total247$726,431 $(41,924)98$788,657 $(159,375)345$1,515,088 $(201,299)
December 31, 2021
Obligations of states and political subdivisions8$34,303 $(216)3$3,892 $(53)11$38,195 $(269)
Residential mortgage backed securities:
Government agency mortgage backed securities41727,546 (6,312)112,305 (504)42739,851 (6,816)
Government agency collateralized mortgage obligations49966,126 (20,371)—— — 49966,126 (20,371)
Commercial mortgage backed securities:
Government agency mortgage backed securities11,791 (1)1432 — 22,223 (1)
Government agency collateralized mortgage obligations21160,919 (3,072)29,005 (347)23169,924 (3,419)
Other debt securities18,699 (148)—— — 18,699 (148)
Total121$1,899,384 $(30,120)7$25,634 $(904)128$1,925,018 $(31,024)
 Less than 12 months 12 months or more Total
Held to Maturity:# Fair Value Unrealized Losses# Fair Value Unrealized Losses# Fair Value Unrealized Losses
December 31, 2022
Obligations of states and political subdivisions105$191,442 $(35,870)24$49,697 $(12,454)129$241,139 $(48,324)
Residential mortgage backed securities:
Government agency mortgage backed securities894,258 (4,186)62364,870 (20,246)70459,128 (24,432)
Government agency collateralized mortgage obligations498,912 (5,479)14293,698 (25,227)18392,610 (30,706)
Commercial mortgage backed securities:
Government agency mortgage backed securities113,745 (3,261)—— — 113,745 (3,261)
Government agency collateralized mortgage obligations27,651 (626)731,220 (5,932)938,871 (6,558)
Other debt securities242,567 (2,013)816,042 (2,253)1058,609 (4,266)
Total122$448,575 $(51,435)115$755,527 $(66,112)237$1,204,102 $(117,547)
December 31, 2021
Obligations of states and political subdivisions24$62,131 $(685)—$— $— 24$62,131 $(685)
Residential mortgage backed securities:
Government agency mortgage backed securities5053,560 (181)15,354 (17)5158,914 (198)
Government agency collateralized mortgage obligations124,740 (92)—— — 124,740 (92)
Commercial mortgage backed securities:
Government agency collateralized mortgage obligations739,388 (117)—— — 739,388 (117)
Other debt securities821,972 (79)—— — 821,972 (79)
Total90$201,791 $(1,154)1$5,354 $(17)91$207,145 $(1,171)
The Company does not intend to sell any of the securities in an unrealized loss position, and it is not more likely than not that the Company will be required to sell any such security prior to the recovery of its amortized cost basis, which may be maturity. Furthermore, even though a number of these securities have been in a continuous unrealized loss position for a period greater than twelve months, the Company is collecting principal and interest payments from the respective issuers as scheduled. Based upon its review of securities with unrealized losses as of December 31, 2022, the Company determined that all such losses resulted from factors not deemed credit related. As a result, the Company did not record any impairment for the years ended December 31, 2022 and 2021.
At each of December 31, 2022 and 2021, the allowance for credit losses on held to maturity securities was $32. The Company monitors the credit quality of debt securities held to maturity using bond investment grades assigned by third party ratings agencies. Updated investment grades are obtained as they become available from the agencies. On December 31, 2022, 99.99% of the amortized cost of debt securities held to maturity were rated A or higher by the ratings agencies.