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SECURITIES (Tables)
12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Summary 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) at December 31, 2023 and 2022 is provided in the tables below.
(dollars in thousands)Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Losses
Allowance for Credit LossesFair
Value
2023
U.S. government sponsored agencies$146,692 $0 $(27,213)$0 $119,479 
Mortgage-backed securities: residential522,275 118 (74,551)0 447,842 
State and municipal securities557,352 65 (73,010)0 484,407 
Total$1,226,319 $183 $(174,774)$0 $1,051,728 
2022
U.S. Treasury securities$3,057 $$(23)$$3,034 
U.S. government sponsored agencies156,184 (29,223)126,961 
Mortgage-backed securities: residential578,175 67 (85,934)492,308 
State and municipal securities663,367 157 (100,299)563,225 
Total$1,400,783 $224 $(215,479)$$1,185,528 
Schedule of Debt Securities, Held-to-Maturity
Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross gains and unrealized gains and losses at December 31, 2023 and 2022 is presented in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
2023
State and municipal securities$129,918 $0 $(10,703)$0 $119,215 
2022
State and municipal securities$128,242 $$(17,213)$$111,029 
Schedule of Available-For-Sale Securities By Maturity
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in one year or less$1,190 $1,191 $0 $0 
Due after one year through five years8,011 7,421 0 0 
Due after five years through ten years40,627 38,730 0 0 
Due after ten years654,216 556,544 129,918 119,215 
704,044 603,886 129,918 119,215 
Mortgage-backed securities522,275 447,842 0 0 
Total debt securities$1,226,319 $1,051,728 $129,918 $119,215 
Schedule of Sales of Securities Available For Sale
Security proceeds, gross gains and gross losses for 2023, 2022 and 2021 were as follows:
(dollars in thousands)202320222021
Sales of securities available-for-sale
Proceeds$105,175 $25,332 $13,964 
Gross gains439 140 797 
Gross losses(464)(119)
Number of securities115 30 
Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position
Information regarding available-for-sale securities securities with unrealized losses as of December 31, 2023 and 2022 is presented below. The tables distribute the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized LossesFair
Value
Unrealized LossesFair
Value
Unrealized Losses
2023            
U.S. government sponsored agencies$0 $0 $119,479 $27,213 $119,479 $27,213 
Mortgage-backed securities: residential52 0 442,765 74,551 442,817 74,551 
State and municipal securities31,345 440 440,446 72,570 471,791 73,010 
Total temporarily impaired$31,397 $440 $1,002,690 $174,334 $1,034,087 $174,774 
2022
U.S. Treasury securities$3,034 $23 $$$3,034 $23 
U.S. government sponsored agencies8,420 1,350 118,541 27,873 126,961 29,223 
Mortgage-backed securities: residential165,897 18,637 323,727 67,297 489,624 85,934 
State and municipal securities277,967 33,405 244,436 66,894 522,403 100,299 
Total temporarily impaired$455,318 $53,415 $686,704 $162,064 $1,142,022 $215,479 
Schedule of Debt Securities, Held-To-Maturity, Unrealized Loss Position, Fair Value
Information regarding held-to-maturity securities with unrealized losses as of December 31, 2023 and 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.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
2023
State and municipal securities$0 $0 $119,215 $10,703 $119,215 $10,703 
2022
State and municipal securities$0 $0 $111,029 $17,213 $111,029 $17,213 
Schedule of Quantitative Disclosure of Available-For-Sale Securities
The number of securities with unrealized losses as of December 31, 2023 and 2022 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
2023    
U.S. government sponsored agencies0 17 17 0 0 0 
Mortgage-backed securities: residential1 126 127 0 0 0 
State and municipal securities40 370 410 0 41 41 
Total temporarily impaired41 513 554 0 41 41 
2022
U.S. Treasury securities
U.S. government sponsored agencies16 17 
Mortgage-backed securities: residential95 41 136 
State and municipal securities269 223 492 41 41 
Total temporarily impaired372 280 652 41 41