SECURITIES AVAILABLE FOR SALE (Tables)

3 Months Ended

Mar. 31, 2023

SECURITIES AVAILABLE FOR SALE

Summary of Securities Available for Sale

			Gross		Gross
			Unrealized		Unrealized
(in thousands)	Amortized Cost		Gains		Losses		Fair Value
March 31, 2023
Mortgage-backed securities:
US Government-sponsored enterprises	$	245,482	$	41	$	(31,223)	$	214,300
US Government agency		91,092		43		(10,197)		80,938
Private label		62,101		34		(3,635)		58,500
Obligations of states and political subdivisions thereof		122,686		5,543		(17,064)		111,165
Corporate bonds		101,505		17		(9,385)		92,137
Total securities available for sale	$	622,866	$	5,678	$	(71,504)	$	557,040

			Gross		Gross
			Unrealized		Unrealized
(in thousands)	Amortized Cost		Gains		Losses		Fair Value
December 31, 2022
Mortgage-backed securities:
US Government-sponsored enterprises	$	249,838	$	14	$	(34,825)	$	215,027
US Government agency		93,010		21		(10,765)		82,266
Private label		64,056		34		(3,936)		60,154
Obligations of states and political subdivisions thereof		121,939		7,149		(21,351)		107,737
Corporate bonds		102,505		33		(8,206)		94,332
Total securities available for sale	$	631,348	$	7,251	$	(79,083)	$	559,516

Schedule of Amortized Cost and Estimated Fair Value of Available for Sale (AFS) Securities, Segregated by Contractual Maturity

	Available for sale
(in thousands)	Amortized Cost		Fair Value
Within 1 year	$	195	$	196
Over 1 year to 5 years		37,278		34,483
Over 5 years to 10 years		57,610		57,009
Over 10 years		129,108		111,614
Total bonds and obligations		224,191		203,302
Mortgage-backed securities		398,675		353,738
Total securities available for sale	$	622,866	$	557,040

Schedule of Gains and Losses from Sale of AFS Securities

	Three Months Ended March 31,
(in thousands)	2023		2022
Gross gains on sales of available for sale securities	$	34	$	9
Gross losses on sales of available for sale securities		—		—
Net gains on sale of available for sale securities	$	34	$	9

Schedule of Securities with Unrealized Losses, Segregated by the Duration of Continuous Unrealized Loss Positions

	Less Than Twelve Months				Over Twelve Months				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(in thousands)	Losses		Value		Losses		Value		Losses		Value
March 31, 2023
Mortgage-backed securities:
US Government-sponsored enterprises	$	1,324	$	35,076	$	29,899	$	174,319	$	31,223	$	209,395
US Government agency		834		22,846		9,363		53,711		10,197		76,557
Private label		5		94		3,630		58,372		3,635		58,466
Obligations of states and political subdivisions thereof		184		9,439		16,880		94,281		17,064		103,720
Corporate bonds		3,877		43,045		5,508		45,992		9,385		89,037
Total securities available for sale	$	6,224	$	110,500	$	65,280	$	426,675	$	71,504	$	537,175

	Less Than Twelve Months				Over Twelve Months				Total
	Gross				Gross				Gross
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(in thousands)	Losses		Value		Losses		Value		Losses		Value
December 31, 2022
Mortgage-backed securities:
US Government-sponsored enterprises	$	7,005	$	82,483	$	27,820	$	127,745	$	34,825	$	210,228
US Government agency		2,902		42,865		7,863		34,988		10,765		77,853
Private label		841		15,694		3,095		44,396		3,936		60,090
Obligations of states and political subdivisions thereof		7,990		48,799		13,361		55,702		21,351		104,501
Corporate bonds		4,733		65,279		3,473		25,027		8,206		90,306
Total securities available for sale	$	23,471	$	255,120	$	55,612	$	287,858	$	79,083	$	542,978