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SECURITIES (Tables)
9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-For-Sale Securities
Information related to the amortized cost, fair value and allowance for credit losses of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) is provided in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
September 30, 2022
U.S. Treasury securities$1,994 $0 $(26)$0 $1,968 
U.S. government sponsored agencies159,169 0 (27,914)0 131,255 
Mortgage-backed securities: residential597,258 80 (92,582)0 504,756 
State and municipal securities689,902 10 (135,705)0 554,207 
Total$1,448,323 $90 $(256,227)$0 $1,192,186 
December 31, 2021
U.S. Treasury securities$900 $$$$900 
U.S. government sponsored agencies145,858 39 (2,445)143,452 
Mortgage-backed securities: residential487,157 4,455 (4,936)486,676 
Mortgage-backed securities: commercial522 523 
State and municipal securities742,532 25,749 (1,274)767,007 
Total$1,376,969 $30,244 $(8,655)$$1,398,558 
Debt Securities, Held-to-Maturity
Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross unrealized gains and losses is presented in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
September 30, 2022
State and municipal securities$127,820 $$(24,494)$$103,326 
Schedule of Available-For-Sale Securities By Maturity
Information regarding the amortized cost and fair value of available-for-sale and held-to-maturity debt securities by maturity as of September 30, 2022 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized CostFair
Value
Amortized CostFair
Value
Due in one year or less$2,233 $2,213 $0 $0 
Due after one year through five years8,401 8,324 0 0 
Due after five years through ten years67,060 62,754 0 0 
Due after ten years773,371 614,139 127,820 103,326 
851,065 687,430 127,820 103,326 
Mortgage-backed securities597,258 504,756 0 0 
Total debt securities$1,448,323 $1,192,186 $127,820 $103,326 
Schedule of Sales of Securities Available For Sale Available-for-sale securities proceeds, gross gains and gross losses are presented below.
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2022202120222021
Sales of securities available-for-sale
Proceeds$0 $$0 $13,964 
Gross gains0 0 797 
Gross losses0 0 
Number of securities0 0 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value Information regarding available-for-sale securities with unrealized losses as of September 30, 2022 and December 31, 2021 is presented on the following page. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
September 30, 2022            
U.S. Treasury securities$1,968 $26 $0 $0 $1,968 $26 
U.S. government sponsored agencies47,754 9,295 83,501 18,619 131,255 27,914 
Mortgage-backed securities: residential336,939 52,248 164,085 40,334 501,024 92,582 
State and municipal securities501,538 117,485 44,476 18,220 546,014 135,705 
Total available-for-sale$888,199 $179,054 $292,062 $77,173 $1,180,261 $256,227 
December 31, 2021
U.S. government sponsored agencies$85,968 $1,364 $28,676 $1,081 $114,644 $2,445 
Mortgage-backed securities: residential272,264 4,076 22,792 860 295,056 4,936 
State and municipal securities138,659 1,274 138,659 1,274 
Total available-for-sale$496,891 $6,714 $51,468 $1,941 $548,359 $8,655 
Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value
Information regarding held-to-maturity securities with unrealized losses as of September 30, 2022 is presented below. The table divides the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more. No investment securities were designated as held-to-maturity at December 31, 2021.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
September 30, 2022
State and municipal securities$103,326 $(24,494)$0 $0 $103,326 $(24,494)
Schedule of Quantitative Disclosure of Available-For-Sale Securities
The total number of securities with unrealized losses as of September 30, 2022 and December 31, 2021 is presented below.
Available-for-saleHeld-to-maturity
Less than
12 months
12 months
or more
TotalLess than
12 months
12 months
or more
Total
September 30, 2022    
U.S. Treasury securities5 0 5 0 0 0 
U.S. government sponsored agencies5 12 17 0 0 0 
Mortgage-backed securities: residential114 24 138 0 0 0 
State and municipal securities507 54 561 41 0 41 
Total temporarily impaired631 90 721 41 0 41 
December 31, 2021
U.S. government sponsored agencies13 
Mortgage-backed securities: residential29 32 
State and municipal securities80 80 
Total temporarily impaired117 125