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Securities (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Securities Available for Sale
The amortized cost and fair value of securities available for sale were as follows as of the dates presented in the tables below.

There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of June 30, 2024 or December 31, 2023.
 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
June 30, 2024
Obligations of states and political subdivisions$20,355 $68 $(2,273)$18,150 
Residential mortgage backed securities:
Government agency mortgage backed securities193,895 102 (26,380)167,617 
Government agency collateralized mortgage obligations420,707 — (89,746)330,961 
Commercial mortgage backed securities:
Government agency mortgage backed securities6,016 — (681)5,335 
Government agency collateralized mortgage obligations139,885 4 (22,782)117,107 
Other debt securities113,741 565 (3,791)110,515 
$894,599 $739 $(145,653)$749,685 
 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2023
Obligations of states and political subdivisions$36,374 $119 $(1,883)$34,610 
Residential mortgage backed securities:
Government agency mortgage backed securities301,400 172 (24,968)276,604 
Government agency collateralized mortgage obligations485,164 — (85,883)399,281 
Commercial mortgage backed securities:
Government agency mortgage backed securities6,029 — (637)5,392 
Government agency collateralized mortgage obligations161,299 24 (21,965)139,358 
Other debt securities72,383 109 (4,458)68,034 
$1,062,649 $424 $(139,794)$923,279 
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
June 30, 2024
Obligations of states and political subdivisions$286,354 $21 $(41,326)$245,049 
Residential mortgage backed securities
Government agency mortgage backed securities399,822 — (27,382)372,440 
Government agency collateralized mortgage obligations371,232 — (38,017)333,215 
Commercial mortgage backed securities:
Government agency mortgage backed securities16,972 — (3,058)13,914 
Government agency collateralized mortgage obligations44,191 — (7,521)36,670 
Other debt securities56,124 — (4,707)51,417 
$1,174,695 $21 $(122,011)$1,052,705 
Allowance for credit losses - held to maturity securities(32)
Held to maturity securities, net of allowance for credit losses$1,174,663 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
December 31, 2023
Obligations of states and political subdivisions$288,154 $74 $(33,688)$254,540 
Residential mortgage backed securities
Government agency mortgage backed securities426,264 — (20,314)405,950 
Government agency collateralized mortgage obligations387,208 — (31,670)355,538 
Commercial mortgage backed securities:
Government agency mortgage backed securities16,983 — (2,972)14,011 
Government agency collateralized mortgage obligations44,514 — (6,977)37,537 
Other debt securities58,373 — (4,119)54,254 
$1,221,496 $74 $(99,740)$1,121,830 
Allowance for credit losses - held to maturity securities(32)
Held to maturity securities, net of allowance for credit losses$1,221,464 
Schedule of Realized Gain (Loss)
Securities sold during the six months ended June 30, 2024 and the three and six months ended June 30, 2023 are presented in the tables below. With respect to the securities sold during the first six months ended June 30, 2024, the Company intended to sell these securities as of December 31, 2023, and completed the sale in January 2024. Therefore, the Company impaired the securities and recognized the loss in net income as of December 31, 2023. There were no securities sold during the second quarter of 2024.
Carrying Value Immediately Prior to SaleNet ProceedsImpairment Recognized in December 2023
Six months ended June 30, 2024
Obligations of states and political subdivisions$12,301 $11,360 $(941)
Residential mortgage backed securities:
Government agency mortgage backed securities107,389 95,922 (11,467)
Government agency collateralized mortgage obligations48,300 43,990 (4,310)
Commercial mortgage backed securities:
Government agency collateralized mortgage obligations28,547 25,913 (2,634)
$196,537 $177,185 $(19,352)
Carrying ValueNet ProceedsLoss
Three months ended June 30, 2023
Obligations of other U.S. Government agencies and corporations$170,000 $164,915 $(5,085)
Obligations of states and political subdivisions104,950 99,439 (5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities137,196 130,602 (6,594)
Government agency collateralized mortgage obligations54,028 51,101 (2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities5,048 4,825 (223)
Government agency collateralized mortgage obligations40,197 38,099 (2,098)
$511,419 $488,981 $(22,438)
Six months ended June 30, 2023
Obligations of other U.S. Government agencies and corporations$170,000 $164,915 $(5,085)
Obligations of states and political subdivisions104,950 99,439 (5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities137,196 130,602 (6,594)
Government agency collateralized mortgage obligations54,028 51,101 (2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities5,048 4,825 (223)
Government agency collateralized mortgage obligations40,197 38,099 (2,098)
$511,419 $488,981 $(22,438)
Schedule of Amortized Cost and Fair Value of Securities by Contractual Maturity
The amortized cost and fair value of securities at June 30, 2024 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$1,322 $1,292 $1,001 $996 
Due after one year through five years6,319 5,853 36,378 36,558 
Due after five years through ten years126,189 110,897 38,250 34,491 
Due after ten years208,648 178,424 50,766 49,727 
Residential mortgage backed securities:
Government agency mortgage backed securities399,822 372,440 193,895 167,617 
Government agency collateralized mortgage obligations371,232 333,215 420,707 330,961 
Commercial mortgage backed securities:
Government agency mortgage backed securities16,972 13,914 6,016 5,335 
Government agency collateralized mortgage obligations44,191 36,670 139,885 117,107 
Other debt securities— — 7,701 6,893 
$1,174,695 $1,052,705 $894,599 $749,685 
Schedule of Gross Unrealized Losses and Fair Value of Available-for-Sale Securities
The following tables present the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded 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:
June 30, 2024
Obligations of states and political subdivisions— $— $— 7$12,928 $(2,273)7$12,928 $(2,273)
Residential mortgage backed securities:
Government agency mortgage backed securities5 9,495 (109)36154,193 (26,271)41163,688 (26,380)
Government agency collateralized mortgage obligations— — — 37330,955 (89,746)37330,955 (89,746)
Commercial mortgage backed securities:
Government agency mortgage backed securities—— — 25,335 (681)25,335 (681)
Government agency collateralized mortgage obligations27,630 (131)25106,557 (22,651)27114,187 (22,782)
Other debt securities— — — 2037,415 (3,791)2037,415 (3,791)
Total7$17,125 $(240)127$647,383 $(145,413)134$664,508 $(145,653)
December 31, 2023
Obligations of states and political subdivisions3$2,914 $(2)9$15,198 $(1,881)12$18,112 $(1,883)
Residential mortgage backed securities:
Government agency mortgage backed securities1806 (25)35166,963 (24,943)36167,769 (24,968)
Government agency collateralized mortgage obligations— — — 37354,574 (85,883)37354,574 (85,883)
Commercial mortgage backed securities:
Government agency mortgage backed securities— — — 25,392 (637)25,392 (637)
Government agency collateralized mortgage obligations— — — 25108,575 (21,965)25108,575 (21,965)
Other debt securities23,099 (195)1935,072 (4,263)2138,171 (4,458)
Total6$6,819 $(222)127$685,774 $(139,572)133$692,593 $(139,794)
Schedule of Gross Unrealized Losses and Fair Value of Held-to-Maturity Securities
 Less than 12 Months12 Months or MoreTotal
 #Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses		#Fair
Value		Unrealized
Losses
Held to Maturity:
June 30, 2024
Obligations of states and political subdivisions1$2,351 $(33)127$241,015 $(41,293)128$243,366 $(41,326)
Residential mortgage backed securities:
Government agency mortgage backed securities—— — 70372,441 (27,382)70372,441 (27,382)
Government agency collateralized mortgage obligations—— — 18333,214 (38,017)18333,214 (38,017)
Commercial mortgage backed securities:
Government agency mortgage backed securities—— — 113,914 (3,058)113,914 (3,058)
Government agency collateralized mortgage obligations—— — 936,670 (7,521)936,670 (7,521)
Other debt securities—— — 1051,418 (4,707)1051,418 (4,707)
Total1$2,351 $(33)235$1,048,672 $(121,978)236$1,051,023 $(122,011)
December 31, 2023
Obligations of states and political subdivisions2$2,807 $(25)126$249,995 $(33,663)128$252,802 $(33,688)
Residential mortgage backed securities:
Government agency mortgage backed securities—— — 70405,950 (20,314)70405,950 (20,314)
Government agency collateralized mortgage obligations—— — 18355,538 (31,670)18355,538 (31,670)
Commercial mortgage backed securities:
Government agency mortgage backed securities—— — 114,011 (2,972)114,011 (2,972)
Government agency collateralized mortgage obligations—— — 937,537 (6,977)937,537 (6,977)
Other debt securities—— — 1054,254 (4,119)1054,254 (4,119)
Total2$2,807 $(25)234$1,117,285 $(99,715)236$1,120,092 $(99,740)